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Canadian (TSX) Healthcare Sector Analysis

UpdatedJan 13, 2026
DataAggregated Company Financials
Companies127
  • 7D4.6%
  • 3M0.8%
  • 1Y25.5%
  • YTD3.8%

The Healthcare industry has gained 2.4% in the last week and Bright Minds Biosciences up 18%. Meanwhile, ME Therapeutics Holdings actually underperformed within the industry, shrinking 25% in the last week. This takes the industry's 12 month performance to a gain of 21%. Looking forward, earnings are forecast to grow by 68% annually.

Sector Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Tue, 13 Jan 2026CA$37.3bCA$19.3b-CA$2,230,442,226.9923x-16.7x1.9x
Thu, 11 Dec 2025CA$33.1bCA$19.2b-CA$2,171,039,317.9320.7x-15.2x1.7x
Sat, 08 Nov 2025CA$32.9bCA$19.0b-CA$2,278,859,972.4526.2x-14.4x1.7x
Mon, 06 Oct 2025CA$38.2bCA$19.4b-CA$2,314,607,436.3142.5x-16.5x2x
Wed, 03 Sep 2025CA$36.3bCA$19.4b-CA$2,298,959,977.4043x-15.8x1.9x
Fri, 01 Aug 2025CA$29.1bCA$19.7b-CA$2,767,710,620.3720x-10.5x1.5x
Sun, 29 Jun 2025CA$27.1bCA$19.5b-CA$2,792,012,378.7220.8x-9.7x1.4x
Tue, 27 May 2025CA$40.8bCA$19.6b-CA$2,683,648,869.7821.5x-15.2x2.1x
Thu, 24 Apr 2025CA$25.1bCA$19.6b-CA$2,783,188,856.9426.3x-9x1.3x
Sat, 22 Mar 2025CA$26.5bCA$20.1b-CA$2,930,164,300.0720.3x-9x1.3x
Mon, 17 Feb 2025CA$28.6bCA$19.7b-CA$2,496,592,271.1127.4x-11.5x1.5x
Wed, 15 Jan 2025CA$27.8bCA$19.8b-CA$2,724,097,532.7430.4x-10.2x1.4x
Fri, 13 Dec 2024CA$28.9bCA$19.7b-CA$2,889,290,237.5324.6x-10x1.5x
Sun, 10 Nov 2024CA$30.6bCA$19.6b-CA$2,951,093,510.4817.4x-10.4x1.6x
Tue, 08 Oct 2024CA$32.7bCA$19.3b-CA$2,957,926,227.1321.4x-11.1x1.7x
Thu, 05 Sep 2024CA$31.5bCA$19.2b-CA$2,962,816,314.7821.6x-10.6x1.6x
Sat, 03 Aug 2024CA$33.7bCA$19.3b-CA$3,678,050,580.8320x-9.2x1.7x
Mon, 01 Jul 2024CA$32.6bCA$19.3b-CA$3,791,878,559.9918.8x-8.6x1.7x
Wed, 29 May 2024CA$33.7bCA$19.5b-CA$4,040,547,494.0917.4x-8.3x1.7x
Fri, 26 Apr 2024CA$33.9bCA$19.2b-CA$4,028,595,993.6113.8x-8.4x1.8x
Sun, 24 Mar 2024CA$36.4bCA$19.4b-CA$4,017,342,218.9813.7x-9.1x1.9x
Tue, 20 Feb 2024CA$34.1bCA$19.3b-CA$5,205,221,298.8215.4x-6.6x1.8x
Thu, 18 Jan 2024CA$36.5bCA$20.1b-CA$7,692,333,027.0010.3x-4.7x1.8x
Sat, 16 Dec 2023CA$32.5bCA$20.0b-CA$7,664,937,282.0010.7x-4.2x1.6x
Mon, 13 Nov 2023CA$32.4bCA$20.1b-CA$7,760,225,517.0017.2x-4.2x1.6x
Wed, 11 Oct 2023CA$33.8bCA$19.9b-CA$8,367,104,212.0017.4x-4x1.7x
Fri, 08 Sep 2023CA$35.8bCA$20.6b-CA$8,972,517,344.0017.8x-4x1.7x
Sun, 06 Aug 2023CA$30.8bCA$20.7b-CA$10,842,305,164.0020.4x-2.8x1.5x
Tue, 04 Jul 2023CA$30.4bCA$20.6b-CA$10,593,336,675.0021.7x-2.9x1.5x
Thu, 01 Jun 2023CA$30.7bCA$20.9b-CA$11,640,827,853.0017.6x-2.6x1.5x
Sat, 29 Apr 2023CA$31.7bCA$21.6b-CA$11,306,542,129.0016x-2.8x1.5x
Mon, 27 Mar 2023CA$31.3bCA$22.1b-CA$11,401,078,486.0016.6x-2.7x1.4x
Wed, 22 Feb 2023CA$35.3bCA$22.0b-CA$11,673,288,145.0019.5x-3x1.6x
Fri, 20 Jan 2023CA$35.5bCA$21.9b-CA$11,534,140,148.0019.2x-3.1x1.6x
Price to Earnings Ratio

-3.1x


Total Market Cap: CA$35.5bTotal Earnings: -CA$11,534,140,148.00Total Revenue: CA$21.9bTotal Market Cap vs Earnings and Revenue0%0%0%
Canadian Healthcare Sector Price to Earnings3Y Average -8.3x202420252026
Current Industry PE
  • Investors are optimistic on the Canadian Healthcare industry, and appear confident in long term growth rates.
  • The 3-year average PS ratio of 1.6x is lower than the industry's current PS ratio of 1.9x.
Past Earnings Growth
  • The earnings for companies in the Healthcare industry have improved over the last three years.
  • Meanwhile revenues for these companies have declined 4.1% per year.
  • This means that less sales are being generated overall, but since the cost of doing business is lower, losses have been shrinking.

Industry Trends

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

CA Market1.53%
Healthcare4.65%
Medical Equipment16.33%
Life Sciences13.48%
Pharma8.52%
Healthcare Services1.27%
Biotech0.77%
Healthtech-1.41%
Industry PE
  • Investors are most optimistic about the Healthcare Services industry which is trading above its 3-year average PE ratio.
    • Analysts are expecting annual earnings growth of 83.2%, which is higher than its past year's earnings growth of 42.4% per year.
Forecasted Growth
  • Analysts are most optimistic on the Healthcare Services industry, expecting annual earnings growth of 83% over the next 5 years.
  • This is better than its past earnings growth rate of 42% per year.
  • In contrast, the Biotech industry is expected to see its earnings grow by 2.1% 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
GTII Green Thumb IndustriesCA$12.2013.4%
+CA$334.1m		21.3%PE46.8x
CURA Curaleaf HoldingsCA$3.7812.2%
+CA$316.7m		89.9%PS1.6x
TRUL Trulieve CannabisCA$12.6013.5%
+CA$254.0m		78.7%PS1.3x
DRUG Bright Minds BiosciencesCA$124.82-0.1%
CA$241.8m		122.9%PB14.8x
CL Cresco LabsCA$1.9217.1%
+CA$100.6m		45.5%PS0.8x

Latest News

TRUL
CA$12.60
Trulieve Cannabis
7D
11.5%
1Y
71.2%

TRUL: Retail Expansion And Rescheduling Progress Will Support Higher Future Earnings Multiples

Analysts have made a small upward adjustment to their Trulieve Cannabis fair value estimate, reflecting only modest tweaks to long term profit margin and future P/E assumptions rather than a wholesale shift in their outlook. Analyst Commentary Recent Street research around comparable business services and data providers offers some useful clues for how analysts may be thinking about Trulieve Cannabis valuation and execution, even though the coverage is focused on different companies.
WEED
CA$1.71
Canopy Growth
7D
3.6%
1Y
-50.3%

WEED: Medical And Adult Use Product Expansion Will Drive Future Upside

Analysts have made only very small tweaks to their inputs for Canopy Growth, keeping the fair value estimate steady at $3.76 while slightly adjusting assumptions for discount rate, revenue growth, profit margin, and future P/E. Together, these changes support a largely unchanged price target outlook.
CL
CA$1.92
Cresco Labs
7D
17.1%
1Y
45.5%

CL: German Entry And Higher Margins Will Support Future Upside

Analysts have raised their price target for Cresco Labs from US$2.30 to about US$2.36, reflecting updated views on the company’s profit margin outlook and a lower assumed future P/E multiple. What's in the News Cresco Labs launched Cresco branded flower in Germany, marking its first commercial entry into the European Union and extending its growth plans beyond the U.S. cannabis market (Key Developments).
DRUG
CA$124.82
Bright Minds Biosciences
7D
20.0%
1Y
122.9%
HBFG
CA$1.98
Happy Belly Food Group
7D
-10.8%
1Y
55.9%
VRNO
CA$1.86
Verano Holdings
7D
11.4%
1Y
5.7%

VRNO: New State Licenses And Dispensary Expansion Will Support Future Upside

Analysts have trimmed their fair value estimate for Verano Holdings from about US$5.03 to roughly US$4.96 per share, citing updated views on revenue growth, profit margins, and a lower future P/E assumption. What's in the News Opened Zen Leaf Charleston, the sixth dispensary in West Virginia and the 159th location across the U.S., adding to an existing footprint that includes a 40,000 square foot cultivation and processing facility in the state (Key Developments).
CURA
CA$3.78
Curaleaf Holdings
7D
10.5%
1Y
84.4%

CURA: Regulatory Shifts Will Widen Moat And Support Destination Brand Position

Analysts have lifted their price target on Curaleaf Holdings to C$5.00 from C$4.81, pointing to regulatory momentum and what they see as a stronger product offering that could help the company reinforce its position with consumers. Analyst Commentary Recent commentary has focused on how regulatory shifts and Curaleaf's product positioning could influence the company’s valuation and execution over time.
METX
CA$3.00
ME Therapeutics Holdings
7D
-25.0%
1Y
-21.1%
GTII
CA$12.20
Green Thumb Industries
7D
14.1%
1Y
16.7%

Here's Why Green Thumb Industries (CSE:GTII) Can Manage Its Debt Responsibly

Jan 06
Here's Why Green Thumb Industries (CSE:GTII) Can Manage Its Debt Responsibly
NGEN
CA$7.79
NervGen Pharma
7D
-2.6%
1Y
152.9%
VREO
CA$0.86
Vireo Growth
7D
16.2%
1Y
11.7%
XLY
CA$0.14
Auxly Cannabis Group
7D
-6.7%
1Y
250.0%
ATLE
CA$0.17
Atlas Energy
7D
-8.1%
1Y
-51.4%
BNXT
CA$0.43
BioNxt Solutions
7D
-33.1%
1Y
4.8%
HBP
CA$2.17
Helix BioPharma
7D
-10.7%
1Y
141.1%
EBM
CA$0.83
Eastwood Bio-Medical Canada
7D
-12.6%
1Y
66.0%