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

Canadian (TSX) Industrials Sector Analysis

UpdatedNov 04, 2025
DataAggregated Company Financials
Companies104
  • 7D-1.8%
  • 3M-4.6%
  • 1Y1.5%
  • YTD0.8%

Over the last 7 days, the Industrials industry has dropped 1.8%, driven by Canadian Pacific Kansas City declining 4.6%. Meanwhile, Finning International actually outperformed within the industry, gaining 5.6% in the last week. As for the longer term, the industry's performance has been flat for the past year. 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
Tue, 04 Nov 2025CA$481.9bCA$206.3bCA$19.4b23.3x24.8x2.3x
Thu, 02 Oct 2025CA$481.9bCA$205.8bCA$19.4b22.9x24.9x2.3x
Sat, 30 Aug 2025CA$496.9bCA$204.5bCA$19.3b23x25.8x2.4x
Mon, 28 Jul 2025CA$514.3bCA$202.2bCA$16.7b23.9x30.9x2.5x
Wed, 25 Jun 2025CA$511.3bCA$202.2bCA$16.6b19.7x30.8x2.5x
Fri, 23 May 2025CA$510.4bCA$202.7bCA$16.8b20.3x30.4x2.5x
Sun, 20 Apr 2025CA$468.0bCA$199.2bCA$15.7b19x29.9x2.3x
Tue, 18 Mar 2025CA$477.3bCA$200.6bCA$15.9b19.2x30x2.4x
Thu, 13 Feb 2025CA$499.5bCA$198.0bCA$16.9b22x29.6x2.5x
Sat, 11 Jan 2025CA$485.0bCA$199.2bCA$17.6b21.5x27.5x2.4x
Mon, 09 Dec 2024CA$503.2bCA$198.4bCA$17.6b22.1x28.6x2.5x
Wed, 06 Nov 2024CA$485.4bCA$196.2bCA$17.6b22.9x27.6x2.5x
Fri, 04 Oct 2024CA$483.7bCA$194.5bCA$17.2b21.7x28.2x2.5x
Sun, 01 Sep 2024CA$481.4bCA$194.2bCA$17.1b22.5x28.2x2.5x
Tue, 30 Jul 2024CA$476.7bCA$168.3bCA$16.7b23.3x28.5x2.8x
Thu, 27 Jun 2024CA$468.4bCA$167.4bCA$16.8b21.6x27.8x2.8x
Sat, 25 May 2024CA$475.3bCA$167.6bCA$17.4b20.6x27.3x2.8x
Mon, 22 Apr 2024CA$473.6bCA$165.3bCA$17.9b20.4x26.4x2.9x
Wed, 20 Mar 2024CA$486.3bCA$164.6bCA$17.8b20.3x27.2x3x
Fri, 16 Feb 2024CA$474.7bCA$163.2bCA$17.2b20.1x27.6x2.9x
Sun, 14 Jan 2024CA$453.2bCA$164.8bCA$16.1b20.3x28.1x2.8x
Tue, 12 Dec 2023CA$434.9bCA$165.2bCA$16.2b18.7x26.9x2.6x
Thu, 09 Nov 2023CA$409.9bCA$161.9bCA$15.6b18.4x26.2x2.5x
Sat, 07 Oct 2023CA$410.6bCA$161.0bCA$15.8b17.5x26x2.6x
Mon, 04 Sep 2023CA$432.5bCA$160.9bCA$15.8b17.5x27.4x2.7x
Wed, 02 Aug 2023CA$433.1bCA$157.3bCA$14.2b18x30.4x2.8x
Fri, 30 Jun 2023CA$421.5bCA$157.1bCA$13.8b19x30.6x2.7x
Sun, 28 May 2023CA$419.7bCA$157.7bCA$13.7b19x30.6x2.7x
Tue, 25 Apr 2023CA$438.3bCA$153.8bCA$13.8b20.5x31.7x2.8x
Thu, 23 Mar 2023CA$401.6bCA$139.8bCA$12.6b20.4x31.8x2.9x
Sat, 18 Feb 2023CA$417.5bCA$151.5bCA$14.5b17.8x28.8x2.8x
Mon, 16 Jan 2023CA$415.5bCA$148.9bCA$12.7b16.6x32.7x2.8x
Wed, 14 Dec 2022CA$417.6bCA$149.3bCA$12.7b17x32.8x2.8x
Fri, 11 Nov 2022CA$400.5bCA$147.2bCA$12.9b15.1x31x2.7x
Price to Earnings Ratio

31x


Total Market Cap: CA$400.5bTotal Earnings: CA$12.9bTotal Revenue: CA$147.2bTotal Market Cap vs Earnings and Revenue0%0%0%
Canadian Industrials Sector Price to Earnings3Y Average 28.7x202320242025
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 24.8x which is lower than its 3-year average PE of 28.7x.
  • The 3-year average PS ratio of 2.6x is higher than the industry's current PS ratio of 2.3x.
Past Earnings Growth
  • The earnings for companies in the Industrials industry have grown 15% 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-0.17%
Industrials-1.75%
Electrical10.36%
Building10.03%
Trade Distributors3.74%
Marine and Shipping2.63%
Airlines1.33%
Industrials1.15%
Machinery0.74%
Infrastructure0.24%
Commercial Services-1.26%
Transportation-1.76%
Construction-1.96%
Logistics-2.89%
Professional Services-3.65%
Aerospace & Defense-7.01%
Industry PE
  • Investors are most optimistic about the Commercial Services industry even though it's trading below its 3-year average PE ratio of 84.9x.
    • Analysts are expecting annual earnings growth of 2.8%, which is lower than the prior year's growth of 10.1% per year.
Forecasted Growth
  • Analysts are most optimistic on the Machinery industry, expecting annual earnings growth of 79% over the next 5 years.
  • This is better than its past earnings growth rate of 11% per year.
  • In contrast, the Infrastructure industry is expected to see its earnings decline by 2.1% 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
FTT Finning InternationalCA$75.255.6%
+CA$527.4m		83.3%PE18.9x
TIH Toromont IndustriesCA$165.913.5%
+CA$458.0m		35.2%PE27.2x
HPS.A Hammond Power SolutionsCA$215.0016.5%
+CA$362.4m		83.9%PE31.7x
EIF Exchange IncomeCA$77.731.0%
+CA$232.6m		42.8%PE32.1x
ARE Aecon GroupCA$30.9512.9%
+CA$210.8m		8.3%PE231.4x

Latest News

CP
CA$99.36
Canadian Pacific Kansas City
7D
-4.6%
1Y
-8.5%
WSP
CA$267.70
WSP Global
7D
-3.4%
1Y
7.0%

WSP: Recent Merger Offer Will Drive Sector Leadership And Long-Term Upside

Analysts have modestly raised their price targets for WSP Global, with the fair value estimate increasing from C$318.21 to C$320.14. They cite continued positive revenue growth expectations and recent upward revisions by major research firms.
TIH
CA$165.91
Toromont Industries
7D
3.5%
1Y
35.2%
FTT
CA$75.25
Finning International
7D
5.6%
1Y
83.3%

Is Now An Opportune Moment To Examine Finning International Inc. (TSE:FTT)?

Nov 02
Is Now An Opportune Moment To Examine Finning International Inc. (TSE:FTT)?
STN
CA$153.91
Stantec
7D
-2.0%
1Y
34.3%

Stantec (TSE:STN) Shareholders Will Want The ROCE Trajectory To Continue

Nov 02
Stantec (TSE:STN) Shareholders Will Want The ROCE Trajectory To Continue
GFL
CA$61.51
GFL Environmental
7D
-3.1%
1Y
7.0%

GFL: Index Addition And Infrastructure Deal Will Support Margin Expansion

Analysts have revised their price target for GFL Environmental to $75.53. They are maintaining stability in their outlook while noting improvements in profit margin forecasts, despite slightly lower revenue growth expectations.
HPS.A
CA$215.00
Hammond Power Solutions
7D
16.5%
1Y
83.9%
CAE
CA$38.84
CAE
7D
-3.1%
1Y
54.7%
BYD
CA$224.71
Boyd Group Services
7D
4.2%
1Y
2.5%
MDA
CA$27.40
MDA Space
7D
-20.8%
1Y
13.2%
ARE
CA$30.95
Aecon Group
7D
12.9%
1Y
8.3%
EIF
CA$77.73
Exchange Income
7D
1.0%
1Y
42.8%

Improved Profit Margins And Network Integration Will Sustain Future Expansion

Exchange Income's analyst price target has been raised from approximately C$81.31 to C$83.54, as analysts cite improved profit margins and a sustained growth outlook in their updated assessments. Analyst Commentary Recent street research updates have reflected growing optimism from analysts regarding Exchange Income's prospects, with several upward revisions to price targets across multiple firms.
AC
CA$18.85
Air Canada
7D
1.7%
1Y
-13.3%

Labor Uncertainty And New Routes Will Shape Upcoming Performance

Analysts have lowered Air Canada's average price target in recent weeks, with cuts ranging from C$1 to C$2 per report. They cited headwinds such as weaker recent results, persistent labor risks, and a lack of near-term positive catalysts.
ATRL
CA$97.88
AtkinsRéalis Group
7D
-0.9%
1Y
43.5%

AtkinsRéalis Group (TSE:ATRL) Seems To Use Debt Quite Sensibly

Oct 28
AtkinsRéalis Group (TSE:ATRL) Seems To Use Debt Quite Sensibly
BBD.B
CA$199.70
Bombardier
7D
0.6%
1Y
97.1%

Strong Performance and Expanding Services Will Drive Demand in Coming Years

Analysts have raised their price target for Bombardier to C$225 from C$195, citing improved fair value estimates and a continued positive outlook, supported by recent research updates. Analyst Commentary Recent updates from the Street reflect increased optimism regarding Bombardier's outlook, with several analysts revising their estimates upwards in response to improved company performance and ongoing strong execution.
TRI
CA$218.92
Thomson Reuters
7D
-3.7%
1Y
-4.6%

Agentic AI Will Transform Legal And Accounting Workflows

Analysts have slightly reduced their price target for Thomson Reuters, adjusting it from $277.20 to $276.64 per share due to minor shifts in projected growth and profitability metrics. What's in the News Thomson Reuters announced a strategic partnership with Supio, integrating Supio's AI-powered CaseAware platform to enhance case preparation tools for personal injury law firms in the US.