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Canadian (TSX) Industrials Sector Analysis

UpdatedMay 14, 2026
DataAggregated Company Financials
Companies104
  • 7D-3.7%
  • 3M1.1%
  • 1Y-7.7%
  • YTD-1.2%

Over the last 7 days, the Industrials industry has dropped 1.1%, driven by a pullback from Thomson Reuters of 7.6%. However, the industry is down 4.5% over the past year. Looking forward, earnings are forecast to grow by 14% annually.

Sector Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Thu, 14 May 2026CA$473.5bCA$241.3bCA$19.3b26.4x24.5x2x
Sat, 11 Apr 2026CA$470.2bCA$240.6bCA$19.2b25x24.5x2x
Mon, 09 Mar 2026CA$469.0bCA$201.9bCA$19.0b25.5x24.7x2.3x
Wed, 04 Feb 2026CA$459.3bCA$207.9bCA$18.3b22.7x25.1x2.2x
Fri, 02 Jan 2026CA$461.5bCA$207.9bCA$18.3b22.4x25.2x2.2x
Sun, 30 Nov 2025CA$460.6bCA$208.7bCA$18.4b21.2x25.1x2.2x
Tue, 28 Oct 2025CA$495.4bCA$206.0bCA$19.3b24.1x25.6x2.4x
Thu, 25 Sep 2025CA$479.6bCA$205.7bCA$19.4b23x24.8x2.3x
Sat, 23 Aug 2025CA$492.5bCA$204.7bCA$19.3b23.8x25.5x2.4x
Mon, 21 Jul 2025CA$522.3bCA$202.2bCA$16.6b23.5x31.4x2.6x
Wed, 18 Jun 2025CA$510.8bCA$202.0bCA$16.6b19.7x30.8x2.5x
Fri, 16 May 2025CA$503.4bCA$203.0bCA$16.5b20.5x30.4x2.5x
Sun, 13 Apr 2025CA$460.3bCA$199.3bCA$15.7b18.7x29.4x2.3x
Tue, 11 Mar 2025CA$489.6bCA$200.5bCA$15.9b19.7x30.8x2.4x
Thu, 06 Feb 2025CA$487.8bCA$198.9bCA$16.8b21.8x29x2.5x
Sat, 04 Jan 2025CA$488.9bCA$199.2bCA$17.6b20.8x27.7x2.5x
Mon, 02 Dec 2024CA$499.6bCA$198.0bCA$17.5b22.2x28.5x2.5x
Wed, 30 Oct 2024CA$488.2bCA$196.2bCA$17.3b23x28.2x2.5x
Fri, 27 Sep 2024CA$485.4bCA$194.2bCA$17.1b22.5x28.3x2.5x
Sun, 25 Aug 2024CA$479.1bCA$191.8bCA$17.1b22.8x28x2.5x
Tue, 23 Jul 2024CA$480.2bCA$167.4bCA$16.9b22.7x28.4x2.9x
Thu, 20 Jun 2024CA$463.1bCA$167.4bCA$16.8b20.4x27.5x2.8x
Sat, 18 May 2024CA$477.3bCA$167.4bCA$17.4b21.1x27.5x2.9x
Mon, 15 Apr 2024CA$481.6bCA$165.3bCA$17.9b20.1x26.8x2.9x
Wed, 13 Mar 2024CA$484.4bCA$164.4bCA$17.8b20.6x27.2x2.9x
Fri, 09 Feb 2024CA$468.7bCA$163.1bCA$17.3b19.8x27.1x2.9x
Sun, 07 Jan 2024CA$449.6bCA$164.7bCA$16.1b19.9x27.9x2.7x
Tue, 05 Dec 2023CA$436.1bCA$165.2bCA$16.2b18.5x27x2.6x
Thu, 02 Nov 2023CA$399.1bCA$161.5bCA$15.5b16.9x25.7x2.5x
Sat, 30 Sep 2023CA$411.4bCA$160.8bCA$15.8b17.3x26.1x2.6x
Mon, 28 Aug 2023CA$424.0bCA$160.9bCA$15.8b17.1x26.8x2.6x
Wed, 26 Jul 2023CA$427.0bCA$156.8bCA$13.7b19x31.1x2.7x
Fri, 23 Jun 2023CA$419.2bCA$156.8bCA$13.8b19x30.5x2.7x
Sun, 21 May 2023CA$432.0bCA$157.4bCA$13.7b19.4x31.5x2.7x
Price to Earnings Ratio

31.5x


Total Market Cap: CA$432.0bTotal Earnings: CA$13.7bTotal Revenue: CA$157.4bTotal Market Cap vs Earnings and Revenue0%0%0%
Canadian Industrials Sector Price to Earnings3Y Average 27.6x202420252026
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 24.5x which is lower than its 3-year average PE of 27.6x.
  • The 3-year average PS ratio of 2.5x is higher than the industry's current PS ratio of 2.0x.
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 15% 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 Market0.64%
Industrials-3.69%
Infrastructure7.01%
Electrical4.37%
Aerospace & Defense3.74%
Marine and Shipping1.90%
Trade Distributors1.14%
Transportation-0.077%
Logistics-0.17%
Airlines-1.50%
Machinery-2.24%
Commercial Services-5.98%
Industrials-6.07%
Building-8.40%
Professional Services-10.51%
Construction-13.52%
Industry PE
  • Investors are most optimistic about the Aerospace & Defense industry which is trading above its 3-year average PE ratio of 13.2x.
    • Analysts are expecting annual earnings growth of 16.8%, which is higher than its past year's earnings growth of 9.8% per year.
Forecasted Growth
  • Analysts are most optimistic on the Machinery industry, expecting annual earnings growth of 61% over the next 5 years.
  • This is better than its past earnings decline of 9.5% per year.
  • In contrast, the Airlines industry is expected to see its earnings grow by 5.0% 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
MDA MDA SpaceCA$52.4919.3%
+CA$1.2b		119.2%PE69.2x
FTT Finning InternationalCA$104.974.2%
+CA$556.2m		103.8%PE26.5x
HPS.A Hammond Power SolutionsCA$347.2014.0%
+CA$508.6m		242.1%PE63x
CNR Canadian National RailwayCA$153.410.3%
+CA$285.6m		3.2%PE19.8x
WTE Westshore Terminals InvestmentCA$38.797.0%
+CA$156.9m		71.3%PE26.4x

Latest News

MDA
CA$52.49
MDA Space
7D
19.3%
1Y
119.2%
BYD
CA$134.54
Boyd Group Services
7D
-16.6%
1Y
-37.4%
FTT
CA$104.97
Finning International
7D
4.2%
1Y
103.8%
TRI
CA$112.62
Thomson Reuters
7D
-10.5%
1Y
-57.2%
HPS.A
CA$347.20
Hammond Power Solutions
7D
14.0%
1Y
242.1%
RUS
CA$58.52
Russel Metals
7D
3.0%
1Y
39.1%
EFN
CA$27.20
Element Fleet Management
7D
-12.2%
1Y
-14.7%
BBUC
CA$44.72
Brookfield Business
7D
-6.2%
1Y
26.0%
STN
CA$106.92
Stantec
7D
-14.8%
1Y
-19.2%
Narrative Update • May 11

STN: Arctic Radar Contract And Buybacks Will Drive Future Upside

Analysts have slightly adjusted their price target on Stantec to CA$164.09 from CA$165.45, reflecting updated views on its discount rate, revenue growth outlook, profit margins, and expected future P/E multiple. What's in the News Stantec has been selected by Nevada Organic Phosphate Inc.
WSP
CA$194.00
WSP Global
7D
-14.1%
1Y
-25.8%
BBD.B
CA$267.00
Bombardier
7D
-10.0%
1Y
195.0%
Narrative Update • May 10

BBD.B: Elevated P/E Will Test Execution Against Cautious Rating Shifts

Analysts have lifted their CA$ fair value estimate for Bombardier by about CA$12 to reflect updated assumptions on revenue growth, profit margins and P/E, with several firms recently raising price targets even as one turned more cautious on the stock. Analyst Commentary Recent Street research shows a cluster of higher price targets on Bombardier, with several firms adjusting their valuations by different amounts in CA$ terms.
CNR
CA$153.41
Canadian National Railway
7D
0.3%
1Y
3.2%
ATRL
CA$83.66
AtkinsRéalis Group
7D
-13.9%
1Y
10.2%
CP
CA$117.38
Canadian Pacific Kansas City
7D
0.1%
1Y
3.3%
WTE
CA$38.79
Westshore Terminals Investment
7D
7.0%
1Y
71.3%
AFN
CA$25.15
Ag Growth International
7D
25.7%
1Y
-35.1%
Narrative Update • Apr 26

AFN: Governance Reset And Reorganization Will Support Renewed Confidence

Analysts have lowered their average price targets on Ag Growth International, with recent cuts of CA$10, CA$13 and CA$19 contributing to a more cautious stance on the shares. Analyst Commentary Recent research updates point to a more cautious tone around Ag Growth International, with several firms cutting price targets and some moving to more negative ratings on the shares.