Has the Canadian Healthcare Sector valuation changed over the past few years?

Investors are optimistic on the Canadian Healthcare industry, and appear confident in long term growth rates. The 3-year average PS ratio of 1.7x is lower than the industry's current PS ratio of 2.0x.

Which industries have driven the changes within the Canadian Healthcare sector?

Investors are most optimistic about the Healthcare Services industry which is trading above its 3-year average PE ratio of 19.4x. Analysts are expecting annual earnings growth of 66.1%, which is higher than its past year's earnings growth of 45.8% per year.

Canadian (TSX) Healthcare Sector Analysis

Date	Market Cap	Revenue	Earnings	PE	Absolute PE	PS
Sat, 12 Sep 2026	CA$40.1b	CA$20.4b	-CA$1,100,000,510.89	19.2x	-36.5x	2x
Mon, 10 Aug 2026	CA$33.3b	CA$17.6b	-CA$1,634,390,314.04	19x	-20.4x	1.9x
Wed, 08 Jul 2026	CA$34.5b	CA$17.3b	-CA$1,960,961,135.17	23.5x	-17.6x	2x
Fri, 05 Jun 2026	CA$35.5b	CA$18.7b	-CA$2,117,987,969.69	17.7x	-16.7x	1.9x
Sun, 03 May 2026	CA$36.7b	CA$17.4b	-CA$1,899,899,917.08	27.5x	-19.3x	2.1x
Tue, 31 Mar 2026	CA$29.9b	CA$17.6b	-CA$1,946,781,976.83	18.7x	-15.3x	1.7x
Thu, 26 Feb 2026	CA$33.6b	CA$17.6b	-CA$2,139,963,884.53	20.6x	-15.7x	1.9x
Sat, 24 Jan 2026	CA$34.4b	CA$17.5b	-CA$2,183,706,427.60	22.4x	-15.8x	2x
Mon, 22 Dec 2025	CA$36.3b	CA$19.2b	-CA$2,218,049,355.91	18.3x	-16.4x	1.9x
Wed, 19 Nov 2025	CA$31.0b	CA$19.3b	-CA$2,168,680,474.37	18.8x	-14.3x	1.6x
Fri, 17 Oct 2025	CA$38.3b	CA$19.5b	-CA$2,334,666,435.77	41.2x	-16.4x	2x
Sun, 14 Sep 2025	CA$33.8b	CA$19.4b	-CA$2,309,057,574.71	41.2x	-14.6x	1.7x
Tue, 12 Aug 2025	CA$31.7b	CA$19.7b	-CA$2,698,143,101.07	29x	-11.8x	1.6x
Thu, 10 Jul 2025	CA$28.4b	CA$19.5b	-CA$2,787,249,766.78	24.2x	-10.2x	1.5x
Sat, 07 Jun 2025	CA$27.0b	CA$19.5b	-CA$2,818,943,002.62	22.8x	-9.6x	1.4x
Mon, 05 May 2025	CA$27.9b	CA$19.5b	-CA$2,751,222,867.36	26x	-10.1x	1.4x
Wed, 02 Apr 2025	CA$26.0b	CA$20.0b	-CA$2,842,550,155.53	19.4x	-9.1x	1.3x
Fri, 28 Feb 2025	CA$27.8b	CA$19.9b	-CA$2,506,042,121.43	23.1x	-11.1x	1.4x
Sun, 26 Jan 2025	CA$28.3b	CA$19.8b	-CA$2,714,894,200.53	33.5x	-10.4x	1.4x
Tue, 24 Dec 2024	CA$28.7b	CA$19.8b	-CA$2,739,171,100.10	25x	-10.5x	1.4x
Thu, 21 Nov 2024	CA$30.0b	CA$19.9b	-CA$2,939,873,055.84	17.4x	-10.2x	1.5x
Sat, 19 Oct 2024	CA$34.1b	CA$19.4b	-CA$2,973,484,725.38	20.6x	-11.5x	1.8x
Mon, 16 Sep 2024	CA$32.6b	CA$19.3b	-CA$2,982,041,003.58	21.4x	-10.9x	1.7x
Wed, 14 Aug 2024	CA$32.3b	CA$19.2b	-CA$3,142,515,822.58	23.3x	-10.3x	1.7x
Fri, 12 Jul 2024	CA$32.0b	CA$19.1b	-CA$3,643,813,555.42	20x	-8.8x	1.7x
Sun, 09 Jun 2024	CA$33.5b	CA$19.4b	-CA$3,302,737,566.33	17.7x	-10.1x	1.7x
Tue, 07 May 2024	CA$36.2b	CA$19.2b	-CA$3,994,047,069.56	16.9x	-9.1x	1.9x
Thu, 04 Apr 2024	CA$32.6b	CA$17.9b	-CA$4,056,486,376.96	12.2x	-8x	1.8x
Sat, 02 Mar 2024	CA$33.0b	CA$19.3b	-CA$5,027,415,033.30	13.2x	-6.6x	1.7x
Mon, 29 Jan 2024	CA$37.7b	CA$20.1b	-CA$7,670,250,299.00	11.3x	-4.9x	1.9x
Wed, 27 Dec 2023	CA$32.2b	CA$19.9b	-CA$7,642,151,504.00	13.5x	-4.2x	1.6x
Fri, 24 Nov 2023	CA$33.3b	CA$20.2b	-CA$7,873,898,101.00	16.1x	-4.2x	1.6x
Sun, 22 Oct 2023	CA$32.0b	CA$20.0b	-CA$8,402,080,042.00	17.8x	-3.8x	1.6x
Tue, 19 Sep 2023	CA$37.7b	CA$20.5b	-CA$8,932,134,692.00	17.4x	-4.2x	1.8x


CA Market	-1.85%
Healthcare	-2.25%
Life Sciences	-0.62%
Pharma	-1.05%
Healthcare Services	-3.16%
Biotech	-3.63%
Healthtech	-6.77%
Medical Equipment	-8.75%

Company	Last Price	7D	1Y	Valuation
APTX Apotex Health	CA$35.55	5.7% +CA$438.7m	n/a	PS2.5x
IAN iAnthus Capital Holdings	CA$0.01	100.0% +CA$34.9m	0%	PS0.4x
MSCL Satellos Bioscience	CA$13.20	6.0% +CA$15.9m	64.2%	PB3.4x
SHRX Sharp Therapeutics	CA$1.37	50.5% +CA$14.5m	174.0%	PE-6x
NTLX Neurothera Labs	CA$4.39	30.7% +CA$14.1m	n/a	PS63.9x

Announcement • Sep 10

WELL Health Technologies Corp Announces change of Chief Financial Officer

WELL Health Technologies Corp. announced a planned transition in its finance leadership including the appointment of Evelyn Sutherland as Chief Financial Officer, effective September 21, 2026. Ms. Sutherland has served on the Board of WELL’s subsidiary WELLSTAR Technologies Corp. (“WELLSTAR”) over the past year, helping guide WELLSTAR through its go-public process, and brings direct knowledge of WELL’s strategy, governance and culture to the role. Eva Fong, who helped lead WELL’s evolution from an early-stage start-up into one of Canada’s leading healthcare technology companies, will transition from the CFO role and assume a strategic Executive Advisor position with the Company. Ms. Sutherland brings more than 20 years of senior financial leadership experience across public and private organizations. Throughout her career, Ms. Sutherland has overseen private and public company financial reporting, financing initiatives, investor engagement, treasury management, enterprise risk management and strategic capital allocation, and has completed more than 50 acquisitions and divestitures. Her breadth of experience leading finance organizations at scale will support WELL’s continued growth as a leading healthcare technology company. Ms. Sutherland has worked across multiple industries, including retail, consumer services, utilities and real estate, bringing a broad operating and commercial perspective. Most recently, she served as Chief Financial Officer of Staples Canada, and previously, she held Chief Financial Officer positions at Enercare Inc., KEYreit and United Purchasing Group of Canada (Yum! Brands). She also served on the Board of Directors of Andlauer Healthcare Group until its acquisition by UPS in 2025, where she chaired the Corporate Governance & Nominating Committee and served on the Audit Committee. In addition, she served for eight years on the Board of the Canadian Mental Health Association, York Region and South Simcoe, including as Treasurer and Chair of the Audit Committee. Ms. Sutherland is a Fellow Chartered Professional Accountant (FCPA, FCA) with extensive experience in capital markets, treasury, investor relations, corporate finance and mergers and acquisitions. During Ms. Fong’s tenure, WELL established a strong financial and accounting foundation while executing an ambitious growth strategy. She played a key role in executing the Company’s capital allocation program which featured a significant number of acquisitions. Under her leadership, the Company strengthened its financial reporting, internal controls, treasury functions, financial discipline and strategic M&A expertise, positioning WELL to continue executing its long-term strategy from a position of financial strength. Ms. Fong also built a collaborative, high-performing culture at WELL from the ground up, developing the finance team, processes and capabilities required to support WELL’s rapid growth and increasing organizational complexity.

Canadian (TSX) Healthcare Sector Analysis

Sector Valuation and Performance

Industry Trends

Top Stock Gainers and Losers

Latest News

Independent Director recently sold CA$516k worth of stock

Chairman of the Board & CEO exercised options to buy CA$98k worth of stock.

WELL Health Technologies Corp Announces change of Chief Financial Officer

Seraxis Holdings, Inc. entered into a definitive agreement to acquire Sernova Biotherapeutics Inc (TSX:SVA) in a merger of equals, reverse merger transaction.

Satellos Bioscience Inc Announces Forazapadin As Assigned International Nonproprietary Name For Lead Drug Candidate SAT-3247

High number of new and inexperienced directors

New minor risk - Insider selling

Cronos Group Inc. Expands Spinach Brand with New Edible Multipack and Vape Flavors

Apotex Health Corp. (TSX:APTX) completed the acquisition of remaining 70% stake in Talicia Holdings Inc. from RedHill Biopharma Ltd. (NasdaqCM:RDHL) for $53 million.

First half 2026 earnings released

New major risk - Revenue and earnings growth

Sienna Senior Living Workers Protest Over Staffing and Conditions at Granite Ridge Care Community

New minor risk - Profitability

Dividend of CA$0.052 announced

New major risk - Financial position

The Green Thumb Industries Inc. (CSE:GTII) Second-Quarter Results Are Out And Analysts Have Published New Forecasts