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Canadian (TSX) Capital Markets Industry Analysis

UpdatedJul 01, 2026
DataAggregated Company Financials
Companies165
  • 7D-2.8%
  • 3M4.9%
  • 1Y-0.2%
  • YTD-6.2%

Over the last 7 days, the Capital Markets industry has dropped 2.8%, driven by pullbacks in Brookfield Asset Management and Brookfield of 4.6% and 3.1%, respectively. As for the longer term, the industry's performance has been flat for the past year. Earnings are forecast to grow by 14% annually.

Industry Valuation and Performance

Has the Canadian Capital Markets Industry valuation changed over the past few years?

DateMarket CapRevenueEarningsPEAbsolute PEPS
Wed, 01 Jul 2026CA$300.7bCA$134.7bCA$9.6b9.4x31.3x2.2x
Fri, 29 May 2026CA$319.8bCA$131.1bCA$9.3b10.1x34.5x2.4x
Sun, 26 Apr 2026CA$314.4bCA$126.8bCA$8.8b9.9x35.6x2.5x
Tue, 24 Mar 2026CA$278.0bCA$127.3bCA$8.6b8.9x32.4x2.2x
Thu, 19 Feb 2026CA$327.3bCA$126.4bCA$8.0b8.7x40.8x2.6x
Sat, 17 Jan 2026CA$333.4bCA$126.2bCA$7.7b9.6x43.2x2.6x
Mon, 15 Dec 2025CA$325.8bCA$125.0bCA$7.7b8.8x42.5x2.6x
Wed, 12 Nov 2025CA$334.4bCA$128.6bCA$7.6b9.7x44.1x2.6x
Fri, 10 Oct 2025CA$342.4bCA$128.8bCA$7.3b10.3x46.8x2.7x
Sun, 07 Sep 2025CA$336.0bCA$127.3bCA$7.2b10.3x46.4x2.6x
Tue, 05 Aug 2025CA$330.5bCA$132.8bCA$6.3b12.5x52.1x2.5x
Thu, 03 Jul 2025CA$309.7bCA$130.9bCA$6.3b11.9x49x2.4x
Sat, 31 May 2025CA$304.9bCA$132.1bCA$6.4b11.2x47.7x2.3x
Mon, 28 Apr 2025CA$302.5bCA$135.1bCA$4.3b10.6x69.8x2.2x
Wed, 26 Mar 2025CA$313.6bCA$138.9bCA$5.0b11.8x62.5x2.3x
Fri, 21 Feb 2025CA$340.9bCA$142.0bCA$5.4b12.2x63.3x2.4x
Sun, 19 Jan 2025CA$231.3bCA$151.0bCA$5.7b12x40.5x1.5x
Tue, 17 Dec 2024CA$232.7bCA$148.9bCA$5.7b12.3x41.1x1.6x
Thu, 14 Nov 2024CA$224.2bCA$152.6bCA$5.7b12.6x39.3x1.5x
Sat, 12 Oct 2024CA$200.1bCA$151.3bCA$5.5b10.9x36.4x1.3x
Mon, 09 Sep 2024CA$173.1bCA$149.3bCA$5.5b10.1x31.7x1.2x
Wed, 07 Aug 2024CA$173.7bCA$151.5bCA$5.3b8.8x32.6x1.1x
Fri, 05 Jul 2024CA$167.3bCA$149.8bCA$5.3b10.4x31.4x1.1x
Sun, 02 Jun 2024CA$165.0bCA$149.9bCA$5.3b10.8x31.4x1.1x
Tue, 30 Apr 2024CA$155.0bCA$156.2bCA$7.3b10.6x21.2x1x
Thu, 28 Mar 2024CA$156.3bCA$156.8bCA$8.7b10.5x18x1x
Sat, 24 Feb 2024CA$156.6bCA$156.2bCA$8.0b9.6x19.6x1x
Mon, 22 Jan 2024CA$150.2bCA$155.5bCA$6.5b9.5x23x1x
Wed, 20 Dec 2023CA$147.6bCA$154.5bCA$6.5b9.1x22.8x1x
Fri, 17 Nov 2023CA$133.1bCA$158.9bCA$6.5b8.3x20.6x0.8x
Sun, 15 Oct 2023CA$127.4bCA$153.0bCA$4.8b11x26.4x0.8x
Tue, 12 Sep 2023CA$137.4bCA$152.2bCA$4.8b10.9x28.5x0.9x
Thu, 10 Aug 2023CA$134.9bCA$151.7bCA$6.4b8.1x21.1x0.9x
Sat, 08 Jul 2023CA$130.9bCA$149.1bCA$5.7b9.4x22.9x0.9x
Price to Earnings Ratio

22.9x


Total Market Cap: CA$130.9bTotal Earnings: CA$5.7bTotal Revenue: CA$149.1bTotal Market Cap vs Earnings and Revenue0%0%0%
Canadian Capital Markets Industry Price to Earnings3Y Average 36.9x202420252026
Current Industry PE
  • Investors are pessimistic on the Canadian Capital Markets industry, indicating that they anticipate long term growth rates will be lower than they have historically.
  • The industry is trading at a PE ratio of 31.3x which is lower than its 3-year average PE of 36.9x.
  • The 3-year average PS ratio of 1.7x is lower than the industry's current PS ratio of 2.2x.
Past Earnings Growth
  • The earnings for companies in the Capital Markets industry have grown 19% per year over the last three years.
  • Meanwhile revenues for these companies have declined 3.3% per year.
  • This means that less sales are being generated overall, but since cost of doing business is lower, profits have been increasing.

Industry Trends

Which industries have driven the changes within the Canadian Financials industry?

CA Market-0.59%
Financials0.81%
Capital Markets-2.83%
Investment Banking and Brokerage0.31%
Asset Management-2.83%
Financial Exchanges and Data-3.38%
Industry PE
  • Investors are most optimistic about the Asset Management industry even though it's trading below its 3-year average PE ratio of 36.8x.
    • Analysts are expecting annual earnings growth of 13.9%, which is lower than the prior year's growth of 28.8% per year.
Forecasted Growth
  • Analysts are most optimistic on the Asset Management industry, expecting annual earnings growth of 14% over the next 5 years.
  • However this is lower than its past earnings growth rate of 29% per year.
  • In contrast, the Financial Exchanges and Data industry is expected to see its earnings grow by 10% per year over the next few years.

Top Stock Gainers and Losers

Which companies have driven the market over the last 7 days?

CompanyLast Price7D1YValuation
PVF.UN Partners Value InvestmentsCA$17.352.1%
+CA$244.3m		26.7%PE129.9x
FIH.U Fairfax India HoldingsUS$18.306.4%
+US$147.6m		-1.6%PE9.8x
IGM IGM FinancialCA$79.180.6%
+CA$116.2m		84.1%PE16x
ONEX OnexCA$106.060.6%
+CA$50.3m		-5.4%PE9.9x
WED WestaimCA$23.004.5%
+CA$33.3m		-25.2%PS6.2x

Latest News

X
CA$46.43
TMX Group
7D
-3.4%
1Y
-19.6%
CVG
CA$77.60
Clairvest Group
7D
3.5%
1Y
0.1%
AGF.B
CA$20.16
AGF Management
7D
3.0%
1Y
52.5%
ONEX
CA$106.06
Onex
7D
0.6%
1Y
-5.4%
IGM
CA$79.18
IGM Financial
7D
0.6%
1Y
84.1%
BAM
CA$63.62
Brookfield Asset Management
7D
-4.6%
1Y
-15.6%
Narrative Update • Jun 26

BAM: Fundraising Momentum And AI Infrastructure Ventures Will Drive Future Upside

The analyst price target for Brookfield Asset Management has been reduced by about CA$5.60 to reflect updated assumptions around fair value, discount rates and profitability, even as analysts highlight ongoing fundraising momentum and exposure to long term themes such as digital infrastructure, AI, energy and broader infrastructure. Analyst Commentary Recent research on Brookfield Asset Management reflects a mix of optimism around its fundraising pipeline and long term themes, alongside more cautious views tied to valuation assumptions and execution risks.
AD.UN
CA$23.90
Alaris Equity Partners Income Trust
7D
-0.8%
1Y
24.9%
DEFI
CA$0.77
DeFi Technologies
7D
8.5%
1Y
-81.1%
Narrative Update • Jun 24

DEFI: Capability Building Through Crypto Downturn Will Support Future Upside Repricing

Analysts have trimmed their average price targets for DeFi Technologies, with recent cuts such as CA$3 to CA$2, CA$1 to CA$0.90 and other reductions reflecting a shift toward more conservative assumptions, while still highlighting the company’s focus on building capabilities through the crypto downturn. Analyst Commentary Recent Street research on DeFi Technologies has focused on recalibrating expectations, with price targets adjusted to CA$2 and CA$0.90, while still pointing to how the company is positioning itself during the crypto downturn.
BN
CA$60.51
Brookfield
7D
-3.1%
1Y
7.7%
SII
CA$159.80
Sprott
7D
-1.0%
1Y
69.8%
JUN.A
CA$4.60
Juno International
7D
-9.8%
1Y
-27.6%
QRC
CA$13.25
Queen's Road Capital Investment
7D
-1.8%
1Y
86.4%
CKI
CA$22.32
Clarke
7D
-1.2%
1Y
-8.0%
WED
CA$23.00
Westaim
7D
4.5%
1Y
-25.2%
FIH.U
US$18.30
Fairfax India Holdings
7D
6.4%
1Y
-1.6%
PVF.UN
CA$17.35
Partners Value Investments
7D
2.1%
1Y
26.7%