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Canadian (TSX) Capital Markets Industry Analysis

UpdatedSep 21, 2025
DataAggregated Company Financials
Companies174
  • 7D4.0%
  • 3M14.6%
  • 1Y34.2%
  • YTD12.2%

Over the last 7 days, the Capital Markets industry has risen 4.0%, driven by gains in Brookfield and Brookfield Asset Management of 5.6% and 5.5%, respectively. Meanwhile, Partners Value Investments actually underperformed within the industry, shrinking 11% in the last week. In the last 12 months, the industry was up 34%. As for the next few years, earnings are expected to grow by 22% per annum.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Sun, 21 Sep 2025CA$348.5bCA$126.8bCA$7.2b9.6x48.3x2.7x
Tue, 19 Aug 2025CA$326.3bCA$126.7bCA$7.1b11.8x45.8x2.6x
Thu, 17 Jul 2025CA$318.3bCA$131.7bCA$6.4b12.2x49.9x2.4x
Sat, 14 Jun 2025CA$304.9bCA$130.9bCA$6.3b11.4x48.1x2.3x
Mon, 12 May 2025CA$324.8bCA$129.3bCA$4.7b10.8x69.5x2.5x
Wed, 09 Apr 2025CA$263.1bCA$138.6bCA$4.3b12.4x60.8x1.9x
Fri, 07 Mar 2025CA$308.9bCA$139.2bCA$4.9b12x62.5x2.2x
Sun, 02 Feb 2025CA$242.4bCA$151.7bCA$5.8b12.3x42.1x1.6x
Tue, 31 Dec 2024CA$228.1bCA$149.9bCA$5.7b12.3x40.1x1.5x
Thu, 28 Nov 2024CA$228.8bCA$146.8bCA$5.5b11.3x41.4x1.6x
Sat, 26 Oct 2024CA$207.3bCA$152.6bCA$5.5b10.8x37.4x1.4x
Mon, 23 Sep 2024CA$192.8bCA$149.3bCA$5.5b10.5x35.4x1.3x
Wed, 21 Aug 2024CA$175.7bCA$149.9bCA$5.5b10.6x32.2x1.2x
Fri, 19 Jul 2024CA$177.9bCA$150.8bCA$5.4b9.8x33.3x1.2x
Sun, 16 Jun 2024CA$159.9bCA$150.9bCA$5.3b10.3x30x1.1x
Tue, 14 May 2024CA$165.9bCA$150.4bCA$5.3b11.1x31.2x1.1x
Thu, 11 Apr 2024CA$156.6bCA$156.4bCA$7.3b10.5x21.5x1x
Sat, 09 Mar 2024CA$158.3bCA$156.0bCA$7.9b12.2x20.1x1x
Mon, 05 Feb 2024CA$150.8bCA$155.7bCA$6.5b9.1x23.1x1x
Wed, 03 Jan 2024CA$146.4bCA$154.4bCA$6.5b9.2x22.6x0.9x
Fri, 01 Dec 2023CA$141.7bCA$158.5bCA$8.0b7.8x17.7x0.9x
Sun, 29 Oct 2023CA$120.2bCA$155.1bCA$4.9b10x24.7x0.8x
Tue, 26 Sep 2023CA$129.6bCA$151.0bCA$4.8b10.7x27x0.9x
Thu, 24 Aug 2023CA$130.6bCA$153.0bCA$5.3b9.8x24.7x0.9x
Sat, 22 Jul 2023CA$139.6bCA$148.5bCA$5.8b9.7x24.2x0.9x
Mon, 19 Jun 2023CA$132.2bCA$148.5bCA$5.9b9.4x22.3x0.9x
Wed, 17 May 2023CA$125.2bCA$151.7bCA$5.9b9.8x21.2x0.8x
Fri, 14 Apr 2023CA$132.8bCA$147.9bCA$8.1b8.2x16.3x0.9x
Sun, 12 Mar 2023CA$126.2bCA$151.5bCA$7.5b9.1x16.8x0.8x
Tue, 07 Feb 2023CA$139.0bCA$144.0bCA$9.3b10.9x14.9x1x
Thu, 05 Jan 2023CA$126.0bCA$144.4bCA$9.4b10.1x13.4x0.9x
Sat, 03 Dec 2022CA$154.7bCA$139.5bCA$6.6b11.3x23.4x1.1x
Mon, 31 Oct 2022CA$125.1bCA$136.4bCA$8.7b11x14.4x0.9x
Wed, 28 Sep 2022CA$127.1bCA$137.2bCA$8.7b8.9x14.6x0.9x
Price to Earnings Ratio

14.6x


Total Market Cap: CA$127.1bTotal Earnings: CA$8.7bTotal Revenue: CA$137.2bTotal Market Cap vs Earnings and Revenue0%0%0%
Canadian Capital Markets Industry Price to Earnings3Y Average 31.2x202320242025
Current Industry PE
  • Investors are optimistic on the Canadian Capital Markets industry, and appear confident in long term growth rates.
  • The industry is trading at a PE ratio of 48.3x which is higher than its 3-year average PE of 31.2x.
  • The 3-year average PS ratio of 1.3x is lower than the industry's current PS ratio of 2.7x.
Past Earnings Growth
  • The earnings for companies in the Capital Markets industry have declined 6.1% per year over the last three years,
  • Revenues have also declined 2.6% per year.
  • This means overall sales from these companies are declining and profits are subsequently falling as well.

Industry Trends

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

CA Market1.10%
Financials1.94%
Capital Markets4.04%
Asset Management4.30%
Financial Exchanges and Data-0.95%
Investment Banking and Brokerage-1.28%
Industry PE
  • Investors are most optimistic about the Asset Management industry which is trading above its 3-year average PE ratio of 31.4x.
    • Analysts are expecting annual earnings growth of 22.7%, which is higher than its past year's earnings growth of 4.6% per year.
Forecasted Growth
  • Analysts are most optimistic on the Asset Management industry, expecting annual earnings growth of 23% over the next 5 years.
  • This is better than its past earnings growth rate of 4.6% per year.
  • In contrast, the Financial Exchanges and Data industry is expected to see its earnings grow by 20% 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
BN BrookfieldCA$99.025.6%
+CA$8.0b		39.9%PE162.7x
BAM Brookfield Asset ManagementCA$82.675.5%
+CA$7.0b		30.2%PE39.8x
SII SprottCA$100.574.1%
+CA$103.2m		72.6%PE37.8x
FIH.U Fairfax India HoldingsUS$18.362.6%
+US$62.0m		23.1%PE38x
SEC Senvest CapitalCA$364.007.8%
+CA$64.3m		11.0%PE5.1x

Latest News

AGF.B
CA$14.24
AGF Management
7D
6.5%
1Y
67.7%
X
CA$53.39
TMX Group
7D
-0.9%
1Y
22.9%

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Analysts have raised TMX Group’s price target to CA$61.79, citing durable earnings momentum, anticipated valuation multiple expansion, and a strong combination of resilience and growth, supported by robust trading activity and a favorable rate environment. Analyst Commentary Bullish analysts believe TMX's earnings momentum is durable and underappreciated at current share levels.
FSZ
CA$6.84
Fiera Capital
7D
-1.3%
1Y
-12.1%
PNP
CA$13.91
Pinetree Capital
7D
10.4%
1Y
93.7%
BAM
CA$82.67
Brookfield Asset Management
7D
5.5%
1Y
30.2%
HODL
CA$8.36
Sol Strategies
7D
-18.6%
1Y
450.0%
BN
CA$99.02
Brookfield
7D
5.6%
1Y
39.9%
DEFI
CA$3.31
DeFi Technologies
7D
-1.8%
1Y
13.7%

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The consensus analyst price target for DeFi Technologies has been reduced as a result of a higher projected future P/E multiple, indicating lower expected earnings growth or increased valuation risk, lowering the fair value estimate from CA$7.80 to CA$7.40. What's in the News DeFi Technologies' DeFi Advisory division secured a second mandate with TenX Protocols, acting as Strategic Advisor and earning an initial $600,000 in fees, with further upside from strategic transactions; subsidiary Stillman Digital appointed exclusive OTC partner to TenX, expected to drive significant digital asset trading volume.
SII
CA$100.57
Sprott
7D
4.1%
1Y
72.6%
PALI
CA$1.56
Palisades Goldcorp
7D
-9.8%
1Y
-23.2%
CF
CA$10.29
Canaccord Genuity Group
7D
-1.5%
1Y
19.4%
VST
CA$0.98
Victory Square Technologies
7D
25.6%
1Y
988.9%
ONEX
CA$123.29
Onex
7D
-0.8%
1Y
32.9%
SEC
CA$364.00
Senvest Capital
7D
7.8%
1Y
11.0%
PVF.UN
CA$16.01
Partners Value Investments
7D
-11.0%
1Y
44.2%
FIH.U
US$18.36
Fairfax India Holdings
7D
2.6%
1Y
23.1%

Fairfax India Holdings Corporation's (TSE:FIH.U) Business Is Trailing The Market But Its Shares Aren't

May 06
Fairfax India Holdings Corporation's (TSE:FIH.U) Business Is Trailing The Market But Its Shares Aren't