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Canadian (TSX) Industrials Sector Analysis

UpdatedDec 30, 2025
DataAggregated Company Financials
Companies105
  • 7D0.2%
  • 3M-3.0%
  • 1Y-2.3%
  • YTD-2.7%

The Industrials industry has stayed flat over the last week. Furthermore, the industry has been flat for the past year as well. As for the next few years, earnings are expected to grow by 10% per annum.

Sector Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Tue, 30 Dec 2025CA$466.2bCA$207.8bCA$18.3b21.7x25.5x2.2x
Thu, 27 Nov 2025CA$455.7bCA$209.0bCA$18.4b21.3x24.8x2.2x
Sat, 25 Oct 2025CA$495.7bCA$206.0bCA$19.4b24.9x25.6x2.4x
Mon, 22 Sep 2025CA$486.8bCA$205.4bCA$19.3b23x25.2x2.4x
Wed, 20 Aug 2025CA$488.2bCA$204.8bCA$19.3b23.4x25.3x2.4x
Fri, 18 Jul 2025CA$528.3bCA$202.3bCA$16.6b23.7x31.8x2.6x
Sun, 15 Jun 2025CA$506.7bCA$201.6bCA$16.6b20x30.5x2.5x
Tue, 13 May 2025CA$484.3bCA$202.2bCA$15.8b20.3x30.6x2.4x
Thu, 10 Apr 2025CA$435.6bCA$199.9bCA$15.7b19.1x27.7x2.2x
Sat, 08 Mar 2025CA$486.1bCA$200.3bCA$15.9b19.7x30.6x2.4x
Mon, 03 Feb 2025CA$500.9bCA$199.4bCA$16.8b21.8x29.7x2.5x
Wed, 01 Jan 2025CA$484.6bCA$199.0bCA$17.6b20.9x27.5x2.4x
Fri, 29 Nov 2024CA$494.2bCA$198.0bCA$17.5b22.3x28.2x2.5x
Sun, 27 Oct 2024CA$484.4bCA$196.2bCA$17.3b23x28x2.5x
Tue, 24 Sep 2024CA$487.1bCA$194.5bCA$17.2b22.1x28.4x2.5x
Thu, 22 Aug 2024CA$471.3bCA$192.1bCA$17.1b22.4x27.5x2.5x
Sat, 20 Jul 2024CA$480.6bCA$167.4bCA$16.9b22.4x28.5x2.9x
Mon, 17 Jun 2024CA$469.6bCA$167.5bCA$16.9b21.4x27.9x2.8x
Wed, 15 May 2024CA$479.6bCA$166.8bCA$17.4b21x27.6x2.9x
Fri, 12 Apr 2024CA$487.3bCA$165.1bCA$17.9b20.2x27.2x3x
Sun, 10 Mar 2024CA$484.9bCA$164.4bCA$17.8b19.8x27.3x2.9x
Tue, 06 Feb 2024CA$464.3bCA$163.1bCA$16.7b19.4x27.8x2.8x
Thu, 04 Jan 2024CA$448.2bCA$164.7bCA$16.1b19.8x27.8x2.7x
Sat, 02 Dec 2023CA$420.1bCA$163.1bCA$15.7b18.6x26.7x2.6x
Mon, 30 Oct 2023CA$390.6bCA$161.5bCA$15.4b16.7x25.4x2.4x
Wed, 27 Sep 2023CA$411.8bCA$160.7bCA$15.8b17x26.1x2.6x
Fri, 25 Aug 2023CA$421.1bCA$160.9bCA$15.8b15.5x26.7x2.6x
Sun, 23 Jul 2023CA$422.8bCA$156.9bCA$13.7b19.1x30.7x2.7x
Tue, 20 Jun 2023CA$419.4bCA$157.0bCA$13.8b19.2x30.5x2.7x
Thu, 18 May 2023CA$427.0bCA$157.2bCA$13.7b19.8x31.1x2.7x
Sat, 15 Apr 2023CA$423.9bCA$153.4bCA$13.8b20.2x30.7x2.8x
Mon, 13 Mar 2023CA$415.1bCA$154.0bCA$14.0b19.5x29.7x2.7x
Wed, 08 Feb 2023CA$414.9bCA$150.6bCA$13.8b17.3x30x2.8x
Fri, 06 Jan 2023CA$400.0bCA$149.4bCA$12.7b17x31.4x2.7x
Price to Earnings Ratio

31.4x


Total Market Cap: CA$400.0bTotal Earnings: CA$12.7bTotal Revenue: CA$149.4bTotal Market Cap vs Earnings and Revenue0%0%0%
Canadian Industrials Sector Price to Earnings3Y Average 28.3x20242025
Current Industry PE
  • Investors are relatively neutral on the Canadian Industrials 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 PE ratio of 28.3x.
  • The 3-year average PS ratio of 2.6x is higher than the industry's current PS ratio of 2.2x.
Past Earnings Growth
  • The earnings for companies in the Industrials industry have grown 13% per year over the last three years.
  • Revenues for these companies have grown 12% per year.
  • This means that more sales are being generated by these companies overall, and subsequently their profits are increasing too.

Industry Trends

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

CA Market-0.39%
Industrials0.24%
Building1.02%
Marine and Shipping1.01%
Logistics0.85%
Commercial Services0.79%
Transportation0.53%
Electrical0.42%
Trade Distributors0.36%
Professional Services0.14%
Infrastructure0.075%
Construction-0.22%
Industrials-0.42%
Airlines-0.69%
Aerospace & Defense-0.96%
Machinery-1.03%
Industry PE
  • Investors are most optimistic about the Commercial Services industry even though it's trading below its 3-year average PE ratio of 95.7x.
    • Analysts are expecting annual earnings decline of 3.5%, which is lower than the prior year's growth of 12.6% per year.
Forecasted Growth
  • Analysts are most optimistic on the Building industry, expecting annual earnings growth of 125% over the next 5 years.
  • In contrast, the Logistics industry is expected to see its earnings decline by 6.8% 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
CNR Canadian National RailwayCA$136.250.7%
+CA$621.7m		-6.7%PE18.2x
CP Canadian Pacific Kansas CityCA$102.380.4%
+CA$360.3m		-1.6%PE21.6x
GFL GFL EnvironmentalCA$60.001.5%
+CA$315.8m		-6.4%PE251.8x
TIH Toromont IndustriesCA$168.181.6%
+CA$218.2m		48.6%PE27.6x
GDI GDI Integrated Facility ServicesCA$36.3024.2%
+CA$166.6m		-5.3%PE20.3x

Latest News

GDI
CA$36.30
GDI Integrated Facility Services
7D
24.2%
1Y
-5.3%
CP
CA$102.38
Canadian Pacific Kansas City
7D
0.4%
1Y
-1.6%
CAE
CA$42.66
CAE
7D
-0.7%
1Y
17.2%

CAE: Future Training Contracts And Execution Will Support Balanced Long-Term Returns

Our updated analyst price target for CAE reflects a modest upward revision, balancing RBC's slight cut to C$40 with TD Securities' increase to C$46, as analysts weigh steady growth expectations against valuation and execution risks. Analyst Commentary Recent revisions to price targets for CAE highlight a nuanced but generally constructive outlook, with analysts balancing solid long term growth prospects against near term execution and valuation concerns.
EIF
CA$83.79
Exchange Income
7D
-0.9%
1Y
42.4%

EIF: Rising Dividend And Execution Will Support Shares Near C$94

Exchange Income's analyst price target has been lifted from C$90.23 to approximately C$94, as analysts cite a series of upward target revisions and sustained positive ratings that reflect confidence in the company’s earnings outlook and valuation resilience. Analyst Commentary Recent research updates highlight a constructive stance on Exchange Income, with multiple upward revisions to price targets reinforcing confidence in the company’s ability to execute on its growth strategy and support a higher valuation range.
TIH
CA$168.18
Toromont Industries
7D
1.6%
1Y
48.6%

Returns At Toromont Industries (TSE:TIH) Appear To Be Weighed Down

Dec 26
Returns At Toromont Industries (TSE:TIH) Appear To Be Weighed Down
BBD.B
CA$235.90
Bombardier
7D
-1.8%
1Y
141.3%

BBD.B: Future Returns Will Rely On Execution Amid Stable Fair Value

Analysts have modestly raised their price targets on Bombardier, citing slightly higher fair value estimates around C$220 and confidence in stable revenue growth and profit margins. As a result, Street targets have moved up into the low C$200s range.
WSP
CA$249.75
WSP Global
7D
-0.6%
1Y
-1.3%
ATRL
CA$90.51
AtkinsRéalis Group
7D
0.3%
1Y
21.0%
EFN
CA$36.72
Element Fleet Management
7D
0.5%
1Y
26.4%
FTT
CA$74.20
Finning International
7D
-0.6%
1Y
94.8%

Is Finning International Inc. (TSE:FTT) Worth CA$73.5 Based On Its Intrinsic Value?

Dec 22
Is Finning International Inc. (TSE:FTT) Worth CA$73.5 Based On Its Intrinsic Value?
TRI
CA$182.48
Thomson Reuters
7D
0.1%
1Y
-20.9%
CNR
CA$136.25
Canadian National Railway
7D
0.7%
1Y
-6.7%
AC
CA$19.44
Air Canada
7D
-2.1%
1Y
-12.6%

AC: Share Repurchases Will Drive Future Upside Amid Near-Term Operational Headwinds

Analysts have modestly reduced their Air Canada price target by C$1. This reflects a series of lowered Street targets and a cautious outlook on near term upside amid operational headwinds and limited positive catalysts.
BLDP
CA$3.55
Ballard Power Systems
7D
-3.0%
1Y
47.9%

BLDP: Softer Order Backlog Will Likely Outweigh Near-Term Margin Surprise

Analysts have modestly raised their price targets on Ballard Power Systems into the roughly $2.50 to $3.40 per share range, up from prior levels closer to $1.00 to $2.00. They cite stronger than expected margins, improving long term sector dynamics, and early benefits from management's strategic actions, even as they await clearer visibility on sustained growth and backlog recovery.
ATS
CA$38.23
ATS
7D
-1.9%
1Y
-12.2%
GFL
CA$60.00
GFL Environmental
7D
1.5%
1Y
-6.4%