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Canadian (TSX) Pharma Industry Analysis

UpdatedJan 28, 2026
DataAggregated Company Financials
Companies59
  • 7D-3.6%
  • 3M-4.2%
  • 1Y14.1%
  • YTD-7.5%

Over the last 7 days, the Pharma industry has dropped 3.6%, driven by a pullback from Green Thumb Industries of 9.5%. On the other hand Cronos Group is actually up 5.4%. This takes the industry's 12 month performance to a gain of 14%. Earnings are forecast to grow by 63% annually.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Wed, 28 Jan 2026CA$15.7bCA$11.1b-CA$1,927,393,253.8716.4x-8.1x1.4x
Fri, 26 Dec 2025CA$16.4bCA$11.2b-CA$1,935,422,909.6516.1x-8.5x1.5x
Sun, 23 Nov 2025CA$13.1bCA$11.4b-CA$1,931,233,676.1114.7x-6.8x1.1x
Tue, 21 Oct 2025CA$17.1bCA$11.3b-CA$2,043,116,736.0033.8x-8.4x1.5x
Thu, 18 Sep 2025CA$15.6bCA$11.2b-CA$2,027,187,216.2640.7x-7.7x1.4x
Sat, 16 Aug 2025CA$16.8bCA$11.8b-CA$2,552,698,606.6934.3x-6.6x1.4x
Mon, 14 Jul 2025CA$11.3bCA$11.7b-CA$2,540,996,725.9619.1x-4.5x1x
Wed, 11 Jun 2025CA$9.8bCA$11.7b-CA$2,516,681,135.6918x-3.9x0.8x
Fri, 09 May 2025CA$10.3bCA$12.0b-CA$2,507,839,408.9418.9x-4.1x0.9x
Sun, 06 Apr 2025CA$9.0bCA$12.3b-CA$2,621,301,298.1117.7x-3.4x0.7x
Tue, 04 Mar 2025CA$11.6bCA$12.3b-CA$2,419,205,511.6221.7x-4.8x0.9x
Thu, 30 Jan 2025CA$11.9bCA$12.2b-CA$2,413,956,152.1929.8x-4.9x1x
Sat, 28 Dec 2024CA$12.7bCA$12.2b-CA$2,416,843,548.7624.6x-5.3x1x
Mon, 25 Nov 2024CA$14.0bCA$11.8b-CA$2,558,921,605.2618.4x-5.5x1.2x
Wed, 23 Oct 2024CA$19.1bCA$11.8b-CA$2,710,231,074.9618.2x-7x1.6x
Fri, 20 Sep 2024CA$18.1bCA$11.6b-CA$2,694,675,910.4121x-6.7x1.6x
Sun, 18 Aug 2024CA$19.9bCA$11.7b-CA$2,742,747,277.7822x-7.3x1.7x
Tue, 16 Jul 2024CA$20.0bCA$11.7b-CA$3,183,280,462.5419.3x-6.3x1.7x
Thu, 13 Jun 2024CA$20.8bCA$11.8b-CA$2,770,274,645.8813.1x-7.5x1.8x
Sat, 11 May 2024CA$24.1bCA$11.9b-CA$3,375,957,081.8813.1x-7.2x2x
Mon, 08 Apr 2024CA$25.7bCA$11.9b-CA$3,481,114,387.218.7x-7.4x2.2x
Wed, 06 Mar 2024CA$21.1bCA$12.0b-CA$4,226,344,866.438.7x-5x1.8x
Fri, 02 Feb 2024CA$24.2bCA$12.3b-CA$6,712,858,880.008.8x-3.6x2x
Sun, 31 Dec 2023CA$17.9bCA$12.2b-CA$6,710,823,789.009.4x-2.7x1.5x
Tue, 28 Nov 2023CA$17.8bCA$12.4b-CA$6,818,754,003.006.9x-2.6x1.4x
Thu, 26 Oct 2023CA$16.1bCA$12.5b-CA$7,362,526,198.0011.4x-2.2x1.3x
Sat, 23 Sep 2023CA$20.3bCA$12.9b-CA$7,885,382,537.0014.3x-2.6x1.6x
Mon, 21 Aug 2023CA$14.0bCA$13.0b-CA$8,056,955,654.0013.1x-1.7x1.1x
Wed, 19 Jul 2023CA$15.3bCA$13.1b-CA$9,705,045,950.0012.4x-1.6x1.2x
Fri, 16 Jun 2023CA$14.7bCA$13.2b-CA$9,396,356,334.0012.8x-1.6x1.1x
Sun, 14 May 2023CA$14.7bCA$13.4b-CA$10,278,987,555.0010.2x-1.4x1.1x
Tue, 11 Apr 2023CA$33.5bCA$13.3b-CA$9,962,454,155.0011x-3.4x2.5x
Thu, 09 Mar 2023CA$19.8bCA$13.9b-CA$10,360,817,202.009.1x-1.9x1.4x
Sat, 04 Feb 2023CA$20.6bCA$13.6b-CA$10,145,803,469.0011x-2x1.5x
Price to Earnings Ratio

-2x


Total Market Cap: CA$20.6bTotal Earnings: -CA$10,145,803,469.00Total Revenue: CA$13.6bTotal Market Cap vs Earnings and Revenue0%0%0%
Canadian Pharma Industry Price to Earnings3Y Average -4.8x202420252026
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 6.4% 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 Market1.72%
Healthcare-2.06%
Pharma-3.63%
Pharma-3.63%
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
CRON Cronos GroupCA$3.715.4%
+CA$72.7m		36.9%PE29x
VREO Vireo GrowthCA$0.762.7%
+CA$21.7m		1.3%PS3.2x
CWEB Charlotte's Web HoldingsCA$0.5920.4%
+CA$16.0m		274.6%PS1.4x
BNXT BioNxt SolutionsCA$0.6127.1%
+CA$15.9m		45.2%PS4722.3x
ACB Aurora CannabisCA$6.024.9%
+CA$15.9m		11.5%PS0.9x

Latest News

CWEB
CA$0.59
Charlotte's Web Holdings
7D
20.4%
1Y
274.6%

Charlotte's Web Holdings, Inc. (TSE:CWEB) Stock Rockets 27% As Investors Are Less Pessimistic Than Expected

Jan 28
Charlotte's Web Holdings, Inc. (TSE:CWEB) Stock Rockets 27% As Investors Are Less Pessimistic Than Expected
WEED
CA$1.60
Canopy Growth
7D
1.9%
1Y
-47.0%

WEED: Medical Expansion And New Product Formats Will Drive Future Upside

Analysts have trimmed their fair value estimate for Canopy Growth from US$3.76 to about US$3.20. This reflects updated assumptions around slower revenue growth, a slightly lower future P/E, and a broadly unchanged margin and discount rate profile.
CRDL
CA$1.36
Cardiol Therapeutics
7D
-3.5%
1Y
-30.6%
TRUL
CA$10.61
Trulieve Cannabis
7D
-5.1%
1Y
53.3%

TRUL: Future Rescheduling And Tax Relief Prospects Will Shape Upside Potential

Analysts have trimmed their fair value estimate for Trulieve Cannabis by about $0.12 to roughly $14.78, reflecting updated assumptions around slightly higher revenue growth, a wider profit margin profile, and a lower future P/E multiple. Analyst Commentary Some bearish analysts are using the latest fair value trim as a reminder that execution and growth expectations for Trulieve Cannabis still carry meaningful risk, even with a higher revenue and margin outlook built into the model.
CL
CA$1.51
Cresco Labs
7D
-8.5%
1Y
18.0%

CL: New German Entry Will Support Future Upside

Analysts have nudged their price target for Cresco Labs higher, now implying fair value of about $2.40 per share versus roughly $2.36 previously. The change reflects updated views on revenue growth, profit margins and future P/E assumptions.
BNXT
CA$0.61
BioNxt Solutions
7D
27.1%
1Y
45.2%
ACB
CA$6.02
Aurora Cannabis
7D
4.9%
1Y
11.5%
VRNO
CA$1.75
Verano Holdings
7D
-8.9%
1Y
1.2%

VRNO: Expanded US Footprint And New Licenses Will Support Future Upside

Analysts have lifted their price target on Verano Holdings slightly to about US$5.00, reflecting small tweaks to their fair value, revenue growth, profit margin, and future P/E assumptions. What's in the News Launched Swift Lifts as an independent pre roll brand with Short, Swift and Long Lifts, initially in Arizona, Illinois, Maryland, New Jersey and Nevada.
CURA
CA$3.34
Curaleaf Holdings
7D
-3.2%
1Y
83.5%

CURA: Regulatory Shift And Exit From Hemp Will Support Wider Moat

Analysts have made a small upward adjustment to their implied price outlook for Curaleaf Holdings, reflecting slightly higher fair value estimates and a modestly higher future P/E assumption in their models. What's in the News Curaleaf raised its fourth quarter 2025 net revenue guidance excluding discontinued businesses to at least US$330 million.
TSND
CA$0.91
TerrAscend
7D
-12.5%
1Y
18.2%

TSND: Expanded Retail Footprint And Licensing Will Support Future Profitability

Analysts have modestly revised their price target on TerrAscend, citing slightly firmer profit margin expectations and a small adjustment to revenue trends and future P/E assumptions. Together, these factors support a refined fair value estimate without a material change in the overall valuation level.
GTII
CA$9.86
Green Thumb Industries
7D
-9.5%
1Y
-0.4%

GTII: Federal Rescheduling And Labor Stability Will Support Key State Market Leadership

Analysts have modestly adjusted their price target on Green Thumb Industries to reflect slightly different assumptions for revenue growth, profit margin, and future P/E. This has resulted in a revised fair value estimate of about $13.52 per share.
CRON
CA$3.71
Cronos Group
7D
5.4%
1Y
36.9%

CRON: Rescheduling Policy Shift Will Temper Optimism On Future Earnings Profile

Analysts have raised their price target for Cronos Group to US$3.19 from US$2.90, pointing to updated assumptions around slightly higher discount rates, more conservative revenue growth and a modestly stronger profit margin profile, alongside a similar forward P/E outlook. What's in the News President Trump directed the Attorney General to complete the rulemaking process to reschedule marijuana to Schedule III of the Controlled Substances Act, which directly touches U.S. cannabis policy and mentions Cronos Group among other publicly traded peers in the sector (Marijuana Herald).
HITI
CA$3.38
High Tide
7D
-4.8%
1Y
-19.5%
NGEN
CA$6.25
NervGen Pharma
7D
-13.3%
1Y
120.1%
VREO
CA$0.76
Vireo Growth
7D
2.7%
1Y
1.3%
GRIN
CA$0.57
Grown Rogue International
7D
5.6%
1Y
-35.2%

Is Grown Rogue International (CSE:GRIN) Using Debt Sensibly?

Dec 25
Is Grown Rogue International (CSE:GRIN) Using Debt Sensibly?