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Canadian (TSX) Capital Markets Industry Analysis

UpdatedJul 03, 2026
DataAggregated Company Financials
Companies165
  • 7D1.9%
  • 3M6.4%
  • 1Y-1.2%
  • YTD-4.6%

The Capital Markets industry is up 1.9% in the last week, with Brookfield Asset Management up 2.7%. In the same time, Stack Capital Group was down 5.2%. The industry has been flat over the past 12 months despite the gain this week. As for the next few years, earnings are expected to grow by 14% per annum.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Sat, 04 Jul 2026CA$305.1bCA$134.7bCA$9.6b9.5x31.7x2.3x
Mon, 01 Jun 2026CA$317.2bCA$131.1bCA$9.3b10.1x34.3x2.4x
Wed, 29 Apr 2026CA$309.8bCA$126.9bCA$8.8b8.7x35x2.4x
Fri, 27 Mar 2026CA$285.7bCA$128.0bCA$8.4b9.3x33.9x2.2x
Sun, 22 Feb 2026CA$321.2bCA$127.0bCA$8.6b7.9x37.1x2.5x
Tue, 20 Jan 2026CA$335.7bCA$125.8bCA$7.7b9.6x43.6x2.7x
Thu, 18 Dec 2025CA$322.8bCA$125.1bCA$7.7b9x42.1x2.6x
Sat, 15 Nov 2025CA$323.1bCA$126.8bCA$7.8b9.7x41.5x2.5x
Mon, 13 Oct 2025CA$327.3bCA$128.6bCA$7.3b10.3x44.8x2.5x
Wed, 10 Sep 2025CA$329.3bCA$127.3bCA$7.2b10.3x45.5x2.6x
Fri, 08 Aug 2025CA$341.3bCA$132.6bCA$6.5b12.1x52.4x2.6x
Sun, 06 Jul 2025CA$317.3bCA$131.1bCA$6.3b11.9x50x2.4x
Tue, 03 Jun 2025CA$304.5bCA$131.9bCA$6.4b11.3x47.7x2.3x
Thu, 01 May 2025CA$294.8bCA$134.4bCA$4.3b10.8x68.4x2.2x
Sat, 29 Mar 2025CA$307.3bCA$139.1bCA$4.4b12.9x69.4x2.2x
Mon, 24 Feb 2025CA$330.7bCA$142.5bCA$5.4b12.1x61.3x2.3x
Wed, 22 Jan 2025CA$230.7bCA$149.7bCA$5.7b12x40.6x1.5x
Fri, 20 Dec 2024CA$223.3bCA$150.2bCA$5.7b12x39.2x1.5x
Sun, 17 Nov 2024CA$219.5bCA$147.4bCA$5.6b11.8x39.1x1.5x
Tue, 15 Oct 2024CA$202.8bCA$151.3bCA$5.5b10.9x36.9x1.3x
Thu, 12 Sep 2024CA$180.1bCA$149.4bCA$5.5b10.3x33x1.2x
Sat, 10 Aug 2024CA$169.6bCA$150.9bCA$5.4b9.8x31.1x1.1x
Mon, 08 Jul 2024CA$163.8bCA$149.9bCA$5.3b10.6x30.7x1.1x
Wed, 05 Jun 2024CA$165.4bCA$150.4bCA$5.3b10.7x31.4x1.1x
Fri, 03 May 2024CA$154.8bCA$156.4bCA$7.3b11.7x21.3x1x
Sun, 31 Mar 2024CA$159.0bCA$155.0bCA$7.3b10.9x21.9x1x
Tue, 27 Feb 2024CA$155.3bCA$156.1bCA$7.9b9.9x19.7x1x
Thu, 25 Jan 2024CA$152.0bCA$156.5bCA$6.6b9.6x23.2x1x
Sat, 23 Dec 2023CA$149.4bCA$153.7bCA$6.5b9.3x23.1x1x
Mon, 20 Nov 2023CA$132.8bCA$158.4bCA$6.4b8.5x20.6x0.8x
Wed, 18 Oct 2023CA$129.7bCA$152.8bCA$4.8b11x26.9x0.8x
Fri, 15 Sep 2023CA$137.1bCA$151.6bCA$4.8b11.2x28.5x0.9x
Sun, 13 Aug 2023CA$139.6bCA$153.2bCA$5.8b9x24.1x0.9x
Tue, 11 Jul 2023CA$130.3bCA$149.1bCA$5.7b9.5x22.8x0.9x
Price to Earnings Ratio

22.8x


Total Market Cap: CA$130.3bTotal Earnings: CA$5.7bTotal Revenue: CA$149.1bTotal Market Cap vs Earnings and Revenue0%0%0%
Canadian Capital Markets Industry Price to Earnings3Y Average 37x202420252026
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 31.7x which is lower than its 3-year average PE of 37.0x.
  • The 3-year average PS ratio of 1.7x is lower than the industry's current PS ratio of 2.3x.
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 Market0.26%
Financials0.62%
Capital Markets1.95%
Financial Exchanges and Data4.04%
Investment Banking and Brokerage1.92%
Asset Management1.86%
Industry PE
  • Investors are most optimistic about the Asset Management industry even though it's trading below its 3-year average PE ratio of 36.9x.
    • 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
BAM Brookfield Asset ManagementCA$65.754.0%
+CA$4.1b		-14.8%PE29.3x
BN BrookfieldCA$61.571.2%
+CA$1.6b		5.7%PE83.1x
IGM IGM FinancialCA$79.673.9%
+CA$690.4m		84.3%PE16.1x
X TMX GroupCA$47.243.8%
+CA$480.5m		-14.5%PE24.4x
ONEX OnexCA$110.325.5%
+CA$440.4m		-2.6%PE10.2x

Latest News

ONEX
CA$110.32
Onex
7D
5.5%
1Y
-2.6%
BAM
CA$65.75
Brookfield Asset Management
7D
4.0%
1Y
-14.8%
BN
CA$61.57
Brookfield
7D
1.2%
1Y
5.7%
X
CA$47.24
TMX Group
7D
3.8%
1Y
-14.5%
IGM
CA$79.67
IGM Financial
7D
3.9%
1Y
84.3%
DEFI
CA$0.78
DeFi Technologies
7D
16.4%
1Y
-80.5%
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.
PXI
CA$0.20
Planet Ventures
7D
-7.1%
1Y
21.9%
PDFI
CA$0.13
Prophecy DeFi
7D
-21.2%
1Y
-74.0%
STCK
CA$20.25
Stack Capital Group
7D
-0.9%
1Y
54.0%
SII
CA$167.70
Sprott
7D
5.6%
1Y
77.2%
JUN.A
CA$4.61
Juno International
7D
-9.6%
1Y
-31.2%
MIVO
CA$0.50
Miivo AI
7D
-9.1%
1Y
-3.8%
VST
CA$0.67
Victory Square Technologies
7D
-5.6%
1Y
211.6%
SLT.U
US$2.81
Saltire Capital
7D
-29.6%
1Y
n/a
FIH.U
US$18.10
Fairfax India Holdings
7D
-0.8%
1Y
-5.9%
PVF.UN
CA$17.35
Partners Value Investments
7D
1.0%
1Y
19.7%