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Canadian (TSX) Capital Markets Industry Analysis

UpdatedJun 17, 2026
DataAggregated Company Financials
Companies159
  • 7D1.8%
  • 3M14.4%
  • 1Y10.0%
  • YTD-0.7%

In the last week, the Capital Markets industry is up 1.8%, with Brookfield Asset Management up 3.5%. In the same time, Stack Capital Group was down 14%. This means that the industry has gained 10% over the past year. Looking forward, earnings are forecast to grow by 11% annually.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Wed, 17 Jun 2026CA$321.8bCA$133.0bCA$9.5b9.7x34x2.4x
Fri, 15 May 2026CA$313.2bCA$129.1bCA$9.0b9.3x34.7x2.4x
Sun, 12 Apr 2026CA$297.6bCA$128.2bCA$8.9b9.4x33.4x2.3x
Tue, 10 Mar 2026CA$295.1bCA$126.1bCA$8.6b9.2x34.4x2.3x
Thu, 05 Feb 2026CA$307.8bCA$124.2bCA$7.6b9x40.3x2.5x
Sat, 03 Jan 2026CA$323.7bCA$124.7bCA$7.6b8.9x42.4x2.6x
Mon, 01 Dec 2025CA$331.1bCA$126.5bCA$7.6b9.3x43.6x2.6x
Wed, 29 Oct 2025CA$339.6bCA$128.0bCA$7.3b9.5x46.4x2.7x
Fri, 26 Sep 2025CA$346.0bCA$128.1bCA$7.3b9.5x47.5x2.7x
Sun, 24 Aug 2025CA$338.3bCA$127.0bCA$7.2b12.9x46.9x2.7x
Tue, 22 Jul 2025CA$336.4bCA$131.8bCA$6.4b12.2x52.8x2.6x
Thu, 19 Jun 2025CA$297.6bCA$131.9bCA$6.4b11.2x46.7x2.3x
Sat, 17 May 2025CA$327.4bCA$134.1bCA$6.1b11.3x54x2.4x
Mon, 14 Apr 2025CA$274.3bCA$135.4bCA$4.3b11.7x63.2x2x
Wed, 12 Mar 2025CA$280.8bCA$140.1bCA$5.0b11.3x56x2x
Fri, 07 Feb 2025CA$235.7bCA$149.6bCA$5.7b12.1x41.1x1.6x
Sun, 05 Jan 2025CA$231.2bCA$150.8bCA$5.7b12.3x40.5x1.5x
Tue, 03 Dec 2024CA$232.3bCA$147.0bCA$5.6b12x41.4x1.6x
Thu, 31 Oct 2024CA$208.4bCA$152.7bCA$5.5b11.3x37.6x1.4x
Sat, 28 Sep 2024CA$195.2bCA$148.9bCA$5.4b10.5x35.9x1.3x
Mon, 26 Aug 2024CA$178.4bCA$148.8bCA$5.4b10.7x32.8x1.2x
Wed, 24 Jul 2024CA$179.5bCA$151.4bCA$5.4b9.3x33.4x1.2x
Fri, 21 Jun 2024CA$158.0bCA$150.4bCA$5.3b10x29.8x1.1x
Sun, 19 May 2024CA$166.6bCA$149.7bCA$5.3b11x31.6x1.1x
Tue, 16 Apr 2024CA$152.8bCA$157.5bCA$7.3b10.7x20.8x1x
Thu, 14 Mar 2024CA$159.6bCA$155.8bCA$7.9b12.5x20.3x1x
Sat, 10 Feb 2024CA$154.4bCA$164.7bCA$8.2b8.8x18.8x0.9x
Mon, 08 Jan 2024CA$145.4bCA$154.8bCA$6.5b9.1x22.4x0.9x
Wed, 06 Dec 2023CA$139.2bCA$157.1bCA$6.6b8.7x21.2x0.9x
Fri, 03 Nov 2023CA$122.9bCA$153.9bCA$4.9b10.4x25.3x0.8x
Sun, 01 Oct 2023CA$126.2bCA$152.2bCA$4.8b10.5x26.2x0.8x
Tue, 29 Aug 2023CA$130.4bCA$152.4bCA$4.8b10.5x27x0.9x
Thu, 27 Jul 2023CA$139.2bCA$148.3bCA$5.8b10.1x24.1x0.9x
Sat, 24 Jun 2023CA$125.9bCA$148.4bCA$5.9b9.1x21.3x0.8x
Price to Earnings Ratio

21.3x


Total Market Cap: CA$125.9bTotal Earnings: CA$5.9bTotal Revenue: CA$148.4bTotal Market Cap vs Earnings and Revenue0%0%0%
Canadian Capital Markets Industry Price to Earnings3Y Average 36.8x202420252026
Current Industry PE
  • Investors are relatively neutral on the Canadian Capital Markets industry at the moment, indicating that they anticipate long term growth rates to remain steady.
  • The industry is trading close to its 3-year average PE ratio of 36.8x.
  • The 3-year average PS ratio of 1.7x is lower than the industry's current PS ratio of 2.4x.
Past Earnings Growth
  • The earnings for companies in the Capital Markets industry have grown 17% per year over the last three years.
  • Meanwhile revenues for these companies have declined 3.6% 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 Market2.59%
Financials3.05%
Capital Markets1.83%
Investment Banking and Brokerage7.11%
Financial Exchanges and Data2.58%
Asset Management1.78%
Industry PE
  • Investors are most optimistic about the Asset Management industry, which is trading close to its 3-year average PE ratio of 36.7x.
    • Analysts are expecting annual earnings growth of 11.5%, which is lower than the prior year's growth of 23.7% per year.
Forecasted Growth
  • Analysts are most optimistic on the Asset Management industry, expecting annual earnings growth of 12% over the next 5 years.
  • However this is lower than its past earnings growth rate of 24% 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$68.063.5%
+CA$3.7b		-7.6%PE30.8x
BN BrookfieldCA$63.950.7%
+CA$1.0b		21.2%PE87.6x
SII SprottCA$183.2711.4%
+CA$483.2m		108.5%PE39.9x
X TMX GroupCA$51.742.6%
+CA$359.0m		-8.5%PE26.7x
IGM IGM FinancialCA$81.790.6%
+CA$109.3m		89.0%PE16.5x

Latest News

STCK
CA$23.82
Stack Capital Group
7D
-13.9%
1Y
89.0%
X
CA$51.74
TMX Group
7D
2.6%
1Y
-8.5%
Narrative Update • Jun 14

X: Index Acquisition And Record IPO Will Support Higher Future P/E Multiples

TMX Group's analyst price target has inched higher, reflecting mixed but generally supportive research updates from several firms that highlight modestly stronger revenue growth expectations, slightly lower discount rates, and relatively steady P/E assumptions despite some differences in individual targets, including a CA$1 trim from Barclays and increases ranging from CA$1 to CA$4 at other banks. Analyst Commentary Bullish Takeaways Bullish analysts are lifting price targets by CA$1 to CA$4, which signals increased confidence that recent revenue trends and cost control can support current valuation assumptions.
BAM
CA$68.06
Brookfield Asset Management
7D
3.5%
1Y
-7.6%
BN
CA$63.95
Brookfield
7D
0.7%
1Y
21.2%
ONEX
CA$110.88
Onex
7D
0.9%
1Y
5.7%
AGF.B
CA$19.11
AGF Management
7D
6.9%
1Y
58.3%
CF
CA$14.91
Canaccord Genuity Group
7D
7.3%
1Y
58.3%
QRC
CA$13.51
Queen's Road Capital Investment
7D
-1.4%
1Y
104.7%
IGM
CA$81.79
IGM Financial
7D
0.6%
1Y
89.0%
Narrative Update • Jun 06

IGM: Index Inclusion And Stable Fundamentals May Support Steady Forward Returns

IGM Financial's analyst price target has been raised by multiple firms, with recent increases of CA$3 to CA$10 reflecting analysts' updated views on the stock's risk profile and earnings potential. Analyst Commentary Recent research activity around IGM Financial has centered on price target revisions in the range of C$3 to C$10, which reflects how analysts are recalibrating their views on valuation, earnings power and execution risk.
CKI
CA$22.21
Clarke
7D
-3.4%
1Y
-1.3%
CVG
CA$75.02
Clairvest Group
7D
-0.9%
1Y
4.2%
SII
CA$183.27
Sprott
7D
11.4%
1Y
108.5%
WED
CA$22.22
Westaim
7D
-4.1%
1Y
-30.4%
SLT.U
US$3.98
Saltire Capital
7D
-7.4%
1Y
-58.0%
PXI
CA$0.21
Planet Ventures
7D
-25.0%
1Y
320.0%
PVF.UN
CA$17.70
Partners Value Investments
7D
-0.3%
1Y
30.1%