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Canadian (TSX) Industrials Sector Analysis

UpdatedJan 04, 2026
DataAggregated Company Financials
Companies106
  • 7D-0.4%
  • 3M-5.1%
  • 1Y-4.2%
  • YTD0%

Over the last 7 days, the Industrials industry has remained flat, although notably Thomson Reuters declined by 4.5%. Unfortunately though, the industry is down 4.2% over the past 12 months. Looking forward, earnings are forecast to grow by 10% annually.

Sector Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Sun, 04 Jan 2026CA$462.8bCA$207.9bCA$18.3b22.4x25.3x2.2x
Tue, 02 Dec 2025CA$460.5bCA$208.8bCA$18.4b21x25.1x2.2x
Thu, 30 Oct 2025CA$491.1bCA$205.9bCA$19.3b23.2x25.4x2.4x
Sat, 27 Sep 2025CA$481.0bCA$205.8bCA$19.4b22.8x24.8x2.3x
Mon, 25 Aug 2025CA$498.5bCA$204.7bCA$19.3b23.8x25.8x2.4x
Wed, 23 Jul 2025CA$517.0bCA$201.9bCA$16.6b23.9x31.1x2.6x
Fri, 20 Jun 2025CA$507.9bCA$202.1bCA$16.6b19.7x30.6x2.5x
Sun, 18 May 2025CA$515.1bCA$203.1bCA$16.8b20.8x30.6x2.5x
Tue, 15 Apr 2025CA$460.3bCA$199.3bCA$15.7b18.8x29.4x2.3x
Thu, 13 Mar 2025CA$471.4bCA$200.3bCA$15.9b19.5x29.7x2.4x
Sat, 08 Feb 2025CA$499.9bCA$198.9bCA$16.7b22.1x29.9x2.5x
Mon, 06 Jan 2025CA$492.2bCA$199.2bCA$17.6b21.4x27.9x2.5x
Wed, 04 Dec 2024CA$500.0bCA$198.2bCA$17.6b22x28.5x2.5x
Fri, 01 Nov 2024CA$488.6bCA$196.3bCA$17.3b23x28.3x2.5x
Sun, 29 Sep 2024CA$486.1bCA$194.4bCA$17.2b22.1x28.3x2.5x
Tue, 27 Aug 2024CA$479.3bCA$195.1bCA$17.1b22.5x28x2.5x
Thu, 25 Jul 2024CA$482.6bCA$167.8bCA$16.9b22x28.6x2.9x
Sat, 22 Jun 2024CA$466.3bCA$167.4bCA$16.8b20.3x27.7x2.8x
Mon, 20 May 2024CA$477.7bCA$167.4bCA$17.4b21.1x27.4x2.9x
Wed, 17 Apr 2024CA$480.7bCA$165.4bCA$18.0b20.2x26.8x2.9x
Fri, 15 Mar 2024CA$487.4bCA$164.5bCA$17.8b19.9x27.3x3x
Sun, 11 Feb 2024CA$474.0bCA$163.1bCA$17.2b19.8x27.5x2.9x
Tue, 09 Jan 2024CA$449.6bCA$164.7bCA$16.1b19.9x27.9x2.7x
Thu, 07 Dec 2023CA$435.7bCA$165.3bCA$16.2b18.5x27x2.6x
Sat, 04 Nov 2023CA$411.7bCA$161.1bCA$15.7b18x26.2x2.6x
Mon, 02 Oct 2023CA$410.7bCA$160.8bCA$15.8b17.3x26x2.6x
Wed, 30 Aug 2023CA$427.7bCA$160.8bCA$15.8b16.7x27.1x2.7x
Fri, 28 Jul 2023CA$428.6bCA$156.6bCA$13.6b19.5x31.5x2.7x
Sun, 25 Jun 2023CA$414.8bCA$156.9bCA$13.8b19x30.1x2.6x
Tue, 23 May 2023CA$432.0bCA$157.4bCA$13.7b19.4x31.5x2.7x
Thu, 20 Apr 2023CA$431.4bCA$153.6bCA$13.8b20.5x31.2x2.8x
Sat, 18 Mar 2023CA$419.0bCA$153.9bCA$13.9b20x30.1x2.7x
Mon, 13 Feb 2023CA$416.1bCA$150.6bCA$14.4b17.3x29x2.8x
Wed, 11 Jan 2023CA$407.3bCA$149.0bCA$12.7b16.7x32.1x2.7x
Price to Earnings Ratio

32.1x


Total Market Cap: CA$407.3bTotal Earnings: CA$12.7bTotal Revenue: CA$149.0bTotal Market Cap vs Earnings and Revenue0%0%0%
Canadian Industrials Sector Price to Earnings3Y Average 28.3x202420252026
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 25.3x which is lower than its 3-year average PE 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 Market0.17%
Industrials-0.37%
Electrical3.76%
Marine and Shipping1.55%
Transportation1.15%
Trade Distributors0.77%
Logistics0.52%
Industrials0.28%
Construction0.097%
Machinery-0.041%
Aerospace & Defense-0.43%
Airlines-0.55%
Commercial Services-1.22%
Building-2.08%
Infrastructure-2.55%
Professional Services-4.45%
Industry PE
  • Investors are most optimistic about the Commercial Services industry even though it's trading below its 3-year average PE ratio of 96.6x.
    • Analysts are expecting annual earnings decline of 3.6%, 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 6.6% 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$137.782.1%
+CA$1.7b		-7.0%PE18.4x
CP Canadian Pacific Kansas CityCA$102.320.4%
+CA$342.3m		-4.2%PE21.6x
BBD.B BombardierCA$240.690.6%
+CA$153.7m		140.4%PE41.8x
STN StantecCA$132.070.9%
+CA$135.7m		15.5%PE31.2x
TFII TFI InternationalCA$146.391.0%
+CA$116.0m		-24.2%PE26.8x

Latest News

CNR
CA$137.78
Canadian National Railway
7D
2.1%
1Y
-7.0%

Canadian National Railway Company's (TSE:CNR) Price In Tune With Earnings

Jan 03
Canadian National Railway Company's (TSE:CNR) Price In Tune With Earnings
GFL
CA$58.89
GFL Environmental
7D
-0.5%
1Y
-8.6%
STN
CA$132.07
Stantec
7D
0.9%
1Y
15.5%

A Look At The Fair Value Of Stantec Inc. (TSE:STN)

Jan 01
A Look At The Fair Value Of Stantec Inc. (TSE:STN)
EIF
CA$81.84
Exchange Income
7D
-2.7%
1Y
40.2%
CP
CA$102.32
Canadian Pacific Kansas City
7D
0.4%
1Y
-4.2%
CAE
CA$42.45
CAE
7D
-1.3%
1Y
20.6%

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.
TIH
CA$167.81
Toromont Industries
7D
0.7%
1Y
48.1%

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

Dec 26
Returns At Toromont Industries (TSE:TIH) Appear To Be Weighed Down
TFII
CA$146.39
TFI International
7D
1.0%
1Y
-24.2%

TFII: Extended Freight Downturn Will Likely Cap Upside Despite 2026 Recovery Hopes

TFI International's analyst price target has edged higher as modestly stronger long term freight cycle expectations and improving service metrics lead analysts to slightly lift revenue growth assumptions and valuation multiples, despite near term earnings pressure. Analyst Commentary Analyst sentiment around TFI International remains mixed, with modest upward revisions to some price targets offset by a series of cuts that reflect ongoing concern about near term earnings pressure and the timing of a freight cycle recovery.
BBD.B
CA$240.69
Bombardier
7D
0.6%
1Y
140.4%

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.
ATRL
CA$90.38
AtkinsRéalis Group
7D
-0.08%
1Y
20.5%
BDGI
CA$72.97
Badger Infrastructure Solutions
7D
-2.5%
1Y
102.9%
EFN
CA$35.86
Element Fleet Management
7D
-2.0%
1Y
22.5%
FTT
CA$75.26
Finning International
7D
1.1%
1Y
100.6%

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$173.66
Thomson Reuters
7D
-4.5%
1Y
-25.9%
BYD
CA$216.35
Boyd Group Services
7D
-2.3%
1Y
0.6%
AC
CA$19.77
Air Canada
7D
1.4%
1Y
-11.5%

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.