Investing IdeasBrowse All StocksMarkets
Have your own idea? Try our Stock Screener
Header cover image

Canadian (TSX) Industrials Sector Analysis

UpdatedApr 06, 2026
DataAggregated Company Financials
Companies107
  • 7D2.7%
  • 3M-2.6%
  • 1Y1.8%
  • YTD-2.0%

GFL Environmental is up 15%, leading the way for the Industrials industry, which has gained 2.7%. Despite this gain, the industry's performance has been flat over the past year. Earnings are forecast to grow by 12% annually.

Sector Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Mon, 06 Apr 2026CA$458.3bCA$241.2bCA$19.2b24.9x23.9x1.9x
Wed, 04 Mar 2026CA$485.8bCA$201.7bCA$18.9b26x25.7x2.4x
Fri, 30 Jan 2026CA$461.8bCA$207.4bCA$18.2b22.6x25.4x2.2x
Sun, 28 Dec 2025CA$464.5bCA$207.8bCA$18.3b22.4x25.4x2.2x
Tue, 25 Nov 2025CA$451.7bCA$209.1bCA$18.4b21x24.6x2.2x
Thu, 23 Oct 2025CA$493.9bCA$205.9bCA$19.4b24.3x25.5x2.4x
Sat, 20 Sep 2025CA$483.8bCA$205.4bCA$19.3b23x25x2.4x
Mon, 18 Aug 2025CA$487.5bCA$204.7bCA$19.3b23.3x25.2x2.4x
Wed, 16 Jul 2025CA$532.7bCA$202.2bCA$16.6b22.7x32x2.6x
Fri, 13 Jun 2025CA$510.3bCA$201.7bCA$16.6b20.1x30.8x2.5x
Sun, 11 May 2025CA$484.3bCA$202.0bCA$15.8b20.1x30.6x2.4x
Tue, 08 Apr 2025CA$452.2bCA$200.3bCA$15.8b18.3x28.7x2.3x
Thu, 06 Mar 2025CA$481.0bCA$200.1bCA$15.9b20.8x30.3x2.4x
Sat, 01 Feb 2025CA$505.6bCA$199.4bCA$16.8b21.8x30x2.5x
Mon, 30 Dec 2024CA$489.8bCA$199.1bCA$17.6b21.2x27.8x2.5x
Wed, 27 Nov 2024CA$497.2bCA$198.1bCA$17.5b22.4x28.3x2.5x
Fri, 25 Oct 2024CA$489.3bCA$196.0bCA$17.3b23x28.3x2.5x
Sun, 22 Sep 2024CA$487.1bCA$194.5bCA$17.2b22.1x28.4x2.5x
Tue, 20 Aug 2024CA$471.1bCA$192.2bCA$17.1b22.4x27.5x2.5x
Thu, 18 Jul 2024CA$486.6bCA$167.3bCA$16.9b22.4x28.8x2.9x
Sat, 15 Jun 2024CA$470.0bCA$167.5bCA$16.9b21.4x27.9x2.8x
Mon, 13 May 2024CA$481.2bCA$166.8bCA$17.4b21x27.7x2.9x
Wed, 10 Apr 2024CA$485.7bCA$164.8bCA$17.9b20.2x27.1x2.9x
Fri, 08 Mar 2024CA$485.1bCA$164.3bCA$17.8b19.8x27.3x3x
Sun, 04 Feb 2024CA$469.9bCA$166.2bCA$16.6b20.2x28.3x2.8x
Tue, 02 Jan 2024CA$451.5bCA$164.4bCA$16.1b19.4x28.1x2.7x
Thu, 30 Nov 2023CA$414.0bCA$163.4bCA$15.7b18.5x26.3x2.5x
Sat, 28 Oct 2023CA$390.4bCA$161.5bCA$15.4b16.7x25.4x2.4x
Mon, 25 Sep 2023CA$416.5bCA$160.6bCA$15.8b17.6x26.4x2.6x
Wed, 23 Aug 2023CA$421.8bCA$160.8bCA$15.8b14.4x26.7x2.6x
Fri, 21 Jul 2023CA$422.6bCA$156.8bCA$13.7b18.8x30.7x2.7x
Sun, 18 Jun 2023CA$421.4bCA$157.0bCA$13.8b19.3x30.6x2.7x
Tue, 16 May 2023CA$429.3bCA$157.1bCA$13.8b19x31.2x2.7x
Thu, 13 Apr 2023CA$423.0bCA$153.6bCA$13.8b20.2x30.6x2.8x
Price to Earnings Ratio

30.6x


Total Market Cap: CA$423.0bTotal Earnings: CA$13.8bTotal Revenue: CA$153.6bTotal Market Cap vs Earnings and Revenue0%0%0%
Canadian Industrials Sector Price to Earnings3Y Average 27.8x202420252026
Current Industry PE
  • Investors are pessimistic on the Canadian Industrials industry, indicating that they anticipate long term growth rates will be lower than they have historically.
  • The industry is trading at a PE ratio of 23.9x which is lower than its 3-year average PE of 27.8x.
  • The 3-year average PS ratio of 2.6x is higher than the industry's current PS ratio of 1.9x.
Past Earnings Growth
  • The earnings for companies in the Industrials industry have grown 12% per year over the last three years.
  • Revenues for these companies have grown 16% 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 Market3.31%
Industrials2.69%
Industrials11.18%
Commercial Services7.39%
Aerospace & Defense4.99%
Logistics3.50%
Construction3.05%
Electrical2.89%
Transportation2.24%
Trade Distributors1.84%
Airlines1.25%
Professional Services1.06%
Infrastructure0.94%
Machinery0.013%
Building-0.15%
Marine and Shipping-1.32%
Industry PE
  • Investors are most optimistic about the Commercial Services industry even though it's trading below its 3-year average PE ratio of 112x.
    • Analysts are expecting annual earnings growth of 23.7%, which is higher than its past year's earnings growth of 2.4% per year.
Forecasted Growth
  • Analysts are most optimistic on the Machinery industry, expecting annual earnings growth of 58% over the next 5 years.
  • This is better than its past earnings decline of 15% per year.
  • In contrast, the Logistics industry is expected to see its earnings decline by 7.8% 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$144.932.6%
+CA$2.3b		7.4%PE18.8x
GFL GFL EnvironmentalCA$62.0110.1%
+CA$2.2b		1.3%PE105.9x
CP Canadian Pacific Kansas CityCA$109.831.6%
+CA$1.6b		12.4%PE23.8x
BBD.B BombardierCA$246.556.2%
+CA$1.4b		223.7%PE18.5x
ATRL AtkinsRéalis GroupCA$90.855.8%
+CA$802.5m		42.9%PE5.7x

Latest News

GFL
CA$62.01
GFL Environmental
7D
10.1%
1Y
1.3%
TRI
CA$125.58
Thomson Reuters
7D
-1.0%
1Y
-45.8%
BDGI
CA$60.49
Badger Infrastructure Solutions
7D
-0.8%
1Y
70.6%
ATRL
CA$90.85
AtkinsRéalis Group
7D
5.8%
1Y
42.9%
AFN
CA$18.12
Ag Growth International
7D
-3.0%
1Y
-42.6%
MDA
CA$37.85
MDA Space
7D
15.3%
1Y
58.5%

MDA: Defence And Government Contracts Will Support Upside As Gateway Pause Impact Stays Limited

The analyst price target for MDA Space has shifted from CA$41.94 to CA$53.63 as analysts factor in recent target increases across several firms and view the impact of NASA's Gateway pause as limited for the company. Analyst Commentary Recent research on MDA Space centers on updated price targets and the impact of NASA's Gateway pause, with most commentary focusing on how current contracts and future execution could influence the company’s valuation.
CP
CA$109.83
Canadian Pacific Kansas City
7D
1.6%
1Y
12.4%
WSP
CA$219.79
WSP Global
7D
2.2%
1Y
-3.1%
TFII
CA$155.08
TFI International
7D
6.0%
1Y
42.5%
DXT
CA$11.81
Dexterra Group
7D
-1.5%
1Y
61.1%

DXT: Integrated Services Pivot And Hybrid Model Will Support Future Upside

Narrative Update The updated analyst price target for Dexterra Group edges slightly lower to about CA$15.22 from CA$15.28, with analysts citing the company’s more streamlined operations, its focus on integrated facilities management, and a hybrid delivery model as key supports for the valuation reset. Analyst Commentary Analysts looking at Dexterra Group are focusing on how the business mix and operating model support the current valuation and price targets.
NFI
CA$18.28
NFI Group
7D
-2.9%
1Y
72.6%
CNR
CA$144.93
Canadian National Railway
7D
2.6%
1Y
7.4%
BYD
CA$171.60
Boyd Group Services
7D
-1.6%
1Y
-14.1%
BBD.B
CA$246.55
Bombardier
7D
6.2%
1Y
223.7%

BBD.B: Elevated P/E And Mixed Ratings Will Test Execution Over Expansion Plan

Analysts have lifted their fair value estimate for Bombardier from CA$193.28 to CA$222.11, echoing recent price target increases at several firms while still balancing more cautious views reflected in recent downgrades. Analyst Commentary Recent research on Bombardier reflects a mixed backdrop, with several price target increases sitting alongside a cluster of downgrades and more cautious opinions.
NVRO
CA$0.13
EnviroGold Global
7D
-10.3%
1Y
18.2%
NBM
CA$0.59
NEO Battery Materials
7D
-7.8%
1Y
-11.9%