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Canadian (TSX) Pharma Industry Analysis

UpdatedFeb 21, 2026
DataAggregated Company Financials
Companies58
  • 7D-0.9%
  • 3M6.9%
  • 1Y8.7%
  • YTD-14.7%

The Pharma industry is up 7.7% in the last week, with Verano Holdings up 17%. In the last 12 months, the industry was up 15%. Earnings are forecast to grow by 54% annually.

Industry Valuation and Performance

Has the Canadian Pharma Industry valuation changed over the past few years?

DateMarket CapRevenueEarningsPEAbsolute PEPS
Sat, 21 Feb 2026CA$15.1bCA$11.2b-CA$1,902,820,914.1914.6x-8x1.3x
Mon, 19 Jan 2026CA$16.6bCA$11.3b-CA$1,960,732,761.7416.1x-8.4x1.5x
Wed, 17 Dec 2025CA$18.2bCA$11.2b-CA$1,943,474,869.3514.8x-9.3x1.6x
Fri, 14 Nov 2025CA$15.5bCA$11.3b-CA$1,866,913,276.1515.6x-8.3x1.4x
Sun, 12 Oct 2025CA$17.2bCA$11.3b-CA$2,040,987,138.2035.1x-8.4x1.5x
Tue, 09 Sep 2025CA$16.5bCA$11.2b-CA$2,030,693,710.6938x-8.1x1.5x
Thu, 07 Aug 2025CA$13.0bCA$11.8b-CA$2,566,130,719.0618.2x-5.1x1.1x
Sat, 05 Jul 2025CA$10.0bCA$11.7b-CA$2,527,662,971.2717.2x-4x0.9x
Mon, 02 Jun 2025CA$9.8bCA$11.8b-CA$2,508,706,169.3818.9x-3.9x0.8x
Wed, 30 Apr 2025CA$10.0bCA$11.9b-CA$2,508,362,684.3320.6x-4x0.8x
Fri, 28 Mar 2025CA$10.1bCA$12.3b-CA$2,587,874,919.4620.2x-3.9x0.8x
Sun, 23 Feb 2025CA$12.0bCA$12.1b-CA$2,216,825,481.5121.8x-5.4x1x
Tue, 21 Jan 2025CA$12.6bCA$12.1b-CA$2,407,039,631.2430.1x-5.2x1x
Thu, 19 Dec 2024CA$12.9bCA$12.2b-CA$2,607,575,768.1320.5x-4.9x1.1x
Sat, 16 Nov 2024CA$14.8bCA$12.0b-CA$2,680,566,269.3316.2x-5.5x1.2x
Mon, 14 Oct 2024CA$18.4bCA$11.8b-CA$2,699,739,851.4518.1x-6.8x1.6x
Wed, 11 Sep 2024CA$18.7bCA$11.6b-CA$2,704,334,320.5020.5x-6.9x1.6x
Fri, 09 Aug 2024CA$17.9bCA$11.7b-CA$2,608,458,462.8020.1x-6.9x1.5x
Sun, 07 Jul 2024CA$19.0bCA$11.7b-CA$3,213,209,526.1818.5x-5.9x1.6x
Tue, 04 Jun 2024CA$21.4bCA$11.9b-CA$3,475,946,996.6213.1x-6.2x1.8x
Thu, 02 May 2024CA$28.7bCA$11.9b-CA$3,436,057,737.3512.3x-8.4x2.4x
Sat, 30 Mar 2024CA$25.0bCA$11.9b-CA$3,497,553,191.879.3x-7.1x2.1x
Mon, 26 Feb 2024CA$23.1bCA$12.0b-CA$4,646,844,959.649.6x-5x1.9x
Wed, 24 Jan 2024CA$21.4bCA$12.4b-CA$6,756,214,925.009.4x-3.2x1.7x
Fri, 22 Dec 2023CA$16.4bCA$12.2b-CA$6,720,401,798.008.3x-2.4x1.3x
Sun, 19 Nov 2023CA$17.0bCA$12.5b-CA$6,839,337,145.007.1x-2.5x1.4x
Tue, 17 Oct 2023CA$18.2bCA$12.3b-CA$7,321,999,345.0013.2x-2.5x1.5x
Thu, 14 Sep 2023CA$21.7bCA$13.0b-CA$7,900,097,670.0015.4x-2.7x1.7x
Sat, 12 Aug 2023CA$14.2bCA$13.1b-CA$8,044,261,319.0011.9x-1.8x1.1x
Mon, 10 Jul 2023CA$16.6bCA$13.2b-CA$9,521,794,298.0012.4x-1.7x1.3x
Wed, 07 Jun 2023CA$14.6bCA$13.3b-CA$10,406,835,549.0010x-1.4x1.1x
Fri, 05 May 2023CA$15.9bCA$13.4b-CA$10,310,478,251.0012.7x-1.5x1.2x
Sun, 02 Apr 2023CA$16.3bCA$13.4b-CA$10,025,092,438.008.7x-1.6x1.2x
Tue, 28 Feb 2023CA$19.2bCA$13.7b-CA$10,318,893,033.009.9x-1.9x1.4x
Price to Earnings Ratio

-1.9x


Total Market Cap: CA$19.2bTotal Earnings: -CA$10,318,893,033.00Total Revenue: CA$13.7bTotal Market Cap vs Earnings and Revenue0%0%0%
Canadian Pharma Industry Price to Earnings3Y Average -4.9x202420252026
Current Industry PE
  • Investors are relatively neutral on the Canadian Pharmaceuticals 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 PS ratio of 1.4x.
Past Earnings Growth
  • The earnings for companies in the Pharmaceuticals industry have improved over the last three years.
  • Meanwhile revenues for these companies have declined 6.3% 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 industry?

CA Market1.43%
Healthcare-0.10%
Pharma-0.90%
Pharma-0.90%
Industry PEThere are no additional sub-industries under this industry.
Forecasted GrowthThere are no additional sub-industries under this industry.

Top Stock Gainers and Losers

Which companies have driven the market over the last 7 days?

CompanyLast Price7D1YValuation
WEED Canopy GrowthCA$1.6410.8%
+CA$60.5m		-29.0%PS2.2x
CRON Cronos GroupCA$3.673.4%
+CA$45.9m		32.0%PE28.4x
OGI Organigram GlobalCA$1.9612.6%
+CA$29.7m		7.7%PE14.6x
NGEN NervGen PharmaCA$6.024.9%
+CA$22.3m		109.0%PE-18.7x
HITI High TideCA$3.397.3%
+CA$20.2m		-8.4%PS0.5x

Latest News

OGI
CA$1.96
Organigram Global
7D
12.6%
1Y
7.7%
CURA
CA$3.23
Curaleaf Holdings
7D
-2.4%
1Y
56.8%

CURA: Refinancing And Hemp Exit Will Support Wider Future Moat

Analysts have slightly adjusted their CA$ fair value estimate for Curaleaf Holdings to reflect updated assumptions on revenue growth, profit margins, and future P/E expectations. This has led to a modest change in the implied price target.
GRIN
CA$0.49
Grown Rogue International
7D
-4.8%
1Y
-44.4%
GUD
CA$6.44
Knight Therapeutics
7D
1.9%
1Y
14.6%
TSND
CA$0.78
TerrAscend
7D
-6.0%
1Y
2.6%

TSND: Union Chill Expansion Will Support Future Retail Scale And Margins

Analysts have trimmed their CA$ price target for TerrAscend, citing a slightly higher discount rate, a modestly reduced revenue outlook, and an improved profit margin profile that together reset expectations around the stock's future P/E level. What's in the News Closed the previously announced transaction with Union Chill Cannabis Company LLC, adding a high performing Hunterdon County dispensary and bringing TerrAscend's New Jersey retail footprint to four locations (Key Developments).
NGEN
CA$6.02
NervGen Pharma
7D
4.9%
1Y
109.0%
CRON
CA$3.67
Cronos Group
7D
3.4%
1Y
32.0%
GTII
CA$8.84
Green Thumb Industries
7D
-4.5%
1Y
-13.3%

GTII: Federal Rescheduling Progress Will Support Future Upside Potential

Analysts have nudged their fair value price target for Green Thumb Industries to CA$20.39, reflecting updated assumptions around revenue growth, profit margins, and a modestly lower future P/E multiple. What's in the News President Trump has instructed Attorney General Pam Bondi to complete the rulemaking process to reschedule marijuana to Schedule III of the Controlled Substances Act by the end of January.
WEED
CA$1.64
Canopy Growth
7D
10.8%
1Y
-29.0%
TRUL
CA$8.34
Trulieve Cannabis
7D
-3.8%
1Y
33.4%

Some Confidence Is Lacking In Trulieve Cannabis Corp. (CSE:TRUL) As Shares Slide 30%

Feb 12
Some Confidence Is Lacking In Trulieve Cannabis Corp. (CSE:TRUL) As Shares Slide 30%
CL
CA$1.31
Cresco Labs
7D
-5.1%
1Y
2.3%

Cresco Labs Inc. (CSE:CL) Shares Slammed 29% But Getting In Cheap Might Be Difficult Regardless

Feb 12
Cresco Labs Inc. (CSE:CL) Shares Slammed 29% But Getting In Cheap Might Be Difficult Regardless
ACB
CA$5.13
Aurora Cannabis
7D
5.3%
1Y
-38.5%
CPH
CA$15.21
Cipher Pharmaceuticals
7D
4.2%
1Y
21.7%

CPH: Higher Margins And New Submission Will Support Future Upside

Analysts have trimmed their price target on Cipher Pharmaceuticals to reflect a more muted revenue growth outlook of 4.30% and a slightly higher discount rate of 6.25%, while still acknowledging a stronger projected profit margin of 39.46% and a broadly similar future P/E of 17.63. What's in the News Health Canada accepted Cipher Pharmaceuticals' new drug submission for Natroba (Spinosad), targeting head lice and scabies in the Canadian market (Key Developments).
VRNO
CA$1.31
Verano Holdings
7D
-8.4%
1Y
-11.5%

VRNO: Expanding Retail Footprint And New License Will Drive Future Upside

Analysts have trimmed their price target on Verano Holdings by about $0.07 as slight tweaks to fair value, discount rate, revenue growth, profit margin and forward P/E assumptions ripple through their models. What's in the News Opened MÜV Deltona in Florida on January 30, bringing the company’s Florida retail footprint to 83 MÜV locations and 160 dispensaries across the U.S., with promotional discounts of up to 50% at launch (Key Developments).
HITI
CA$3.39
High Tide
7D
7.3%
1Y
-8.4%
XLY
CA$0.12
Auxly Cannabis Group
7D
-8.0%
1Y
91.7%