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

Canadian (TSX) Industrials Sector Analysis

UpdatedApr 02, 2026
DataAggregated Company Financials
Companies106
  • 7D0.2%
  • 3M-2.7%
  • 1Y-5.1%
  • YTD-2.9%

Canadian National Railway is up 3.0%, leading the way for the Industrials industry, which has gained 1.0%. During this same period, the MDA Space underperformed, falling 13%. In the past year, the industry is down 4.1%. 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
Thu, 02 Apr 2026CA$453.4bCA$240.9bCA$19.2b25.4x23.6x1.9x
Sat, 28 Feb 2026CA$482.0bCA$203.8bCA$18.9b26.7x25.5x2.4x
Mon, 26 Jan 2026CA$470.7bCA$207.9bCA$18.4b22.2x25.6x2.3x
Wed, 24 Dec 2025CA$465.2bCA$207.8bCA$18.3b21.9x25.4x2.2x
Fri, 21 Nov 2025CA$452.1bCA$209.1bCA$18.4b21x24.6x2.2x
Sun, 19 Oct 2025CA$491.0bCA$206.0bCA$19.4b23.8x25.4x2.4x
Tue, 16 Sep 2025CA$491.5bCA$204.6bCA$19.3b23.2x25.4x2.4x
Thu, 14 Aug 2025CA$490.0bCA$204.4bCA$19.3b23.6x25.4x2.4x
Sat, 12 Jul 2025CA$523.1bCA$202.0bCA$16.6b22.9x31.5x2.6x
Mon, 09 Jun 2025CA$511.5bCA$202.0bCA$16.6b20x30.8x2.5x
Wed, 07 May 2025CA$474.3bCA$200.1bCA$15.8b19.7x30.1x2.4x
Fri, 04 Apr 2025CA$479.6bCA$199.8bCA$15.8b19.1x30.4x2.4x
Sun, 02 Mar 2025CA$497.8bCA$200.4bCA$16.0b20.7x31.2x2.5x
Tue, 28 Jan 2025CA$501.8bCA$199.0bCA$17.6b21.9x28.5x2.5x
Thu, 26 Dec 2024CA$491.7bCA$199.0bCA$17.6b21.2x27.9x2.5x
Sat, 23 Nov 2024CA$490.0bCA$197.8bCA$17.5b22.5x28x2.5x
Mon, 21 Oct 2024CA$494.4bCA$195.2bCA$17.2b23.2x28.7x2.5x
Wed, 18 Sep 2024CA$493.0bCA$194.6bCA$17.2b22.6x28.7x2.5x
Fri, 16 Aug 2024CA$468.9bCA$192.4bCA$17.2b22.4x27.3x2.4x
Sun, 14 Jul 2024CA$477.2bCA$167.1bCA$16.9b22x28.3x2.9x
Tue, 11 Jun 2024CA$474.5bCA$167.6bCA$16.9b21.1x28.1x2.8x
Thu, 09 May 2024CA$478.1bCA$166.7bCA$17.4b20.2x27.5x2.9x
Sat, 06 Apr 2024CA$479.1bCA$164.9bCA$17.9b20.4x26.8x2.9x
Mon, 04 Mar 2024CA$483.9bCA$164.5bCA$17.7b20.1x27.3x2.9x
Wed, 31 Jan 2024CA$459.3bCA$164.7bCA$16.8b20.2x27.3x2.8x
Fri, 29 Dec 2023CA$450.3bCA$164.4bCA$16.1b19.2x28x2.7x
Sun, 26 Nov 2023CA$420.5bCA$163.5bCA$15.7b17.9x26.7x2.6x
Tue, 24 Oct 2023CA$397.4bCA$161.1bCA$15.8b16.7x25.1x2.5x
Thu, 21 Sep 2023CA$424.4bCA$160.6bCA$15.8b17.6x26.9x2.6x
Sat, 19 Aug 2023CA$423.4bCA$160.8bCA$15.8b16x26.8x2.6x
Mon, 17 Jul 2023CA$421.9bCA$156.9bCA$13.8b19x30.7x2.7x
Wed, 14 Jun 2023CA$414.8bCA$157.2bCA$13.8b18.8x30.1x2.6x
Fri, 12 May 2023CA$425.3bCA$157.3bCA$13.8b18.9x30.8x2.7x
Sun, 09 Apr 2023CA$418.5bCA$153.8bCA$13.9b19x30.2x2.7x
Price to Earnings Ratio

30.2x


Total Market Cap: CA$418.5bTotal Earnings: CA$13.9bTotal Revenue: CA$153.8bTotal 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 22.8x 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 2.2x.
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 9.7% 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 Market1.56%
Industrials0.22%
Commercial Services2.71%
Industrials2.37%
Professional Services1.28%
Airlines0.80%
Trade Distributors0.68%
Transportation0.11%
Construction-0.84%
Infrastructure-1.35%
Marine and Shipping-1.44%
Aerospace & Defense-1.90%
Machinery-2.01%
Logistics-2.54%
Electrical-3.98%
Building-8.41%
Industry PE
  • Investors are most optimistic about the Commercial Services industry even though it's trading below its 3-year average PE ratio of 111x.
    • Analysts are expecting annual earnings growth of 24.7%, 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 59% over the next 5 years.
  • This is better than its past earnings decline of 15% per year.
  • In contrast, the Infrastructure industry is expected to see its earnings growth to stay flat over the next few years.

Top Stock Gainers and Losers

Which companies have driven the market over the last 7 days?

CompanyLast Price7D1YValuation
GFL GFL EnvironmentalCA$60.4310.3%
+CA$2.0b		-12.8%PE102.4x
CNR Canadian National RailwayCA$143.391.9%
+CA$1.6b		-0.1%PE18.6x
BBD.B BombardierCA$259.155.1%
+CA$1.3b		198.1%PE19.5x
TRI Thomson ReutersCA$122.421.3%
+CA$688.0m		-51.3%PE26.5x
TFII TFI InternationalCA$153.634.3%
+CA$517.0m		32.8%PE29.3x

Latest News

MDA
CA$36.01
MDA Space
7D
-6.3%
1Y
30.3%
ARE
CA$42.20
Aecon Group
7D
-3.5%
1Y
141.7%

ARE: Balanced Medium Term Earnings Outlook Will Reflect Tighter Margins And Measured Risk Profile

Analysts have raised their price target on Aecon Group to $34.09 from $33.18, citing updated assumptions that include a 5.38% revenue growth outlook, a 3.91% profit margin, an 11.73x future P/E, and a slightly higher 8.26% discount rate. Analyst Commentary Recent valuation work on Aecon Group reflects a balanced mix of optimism and caution, with analysts updating their models around revenue growth, margins, and the applied P/E multiple.
BBD.B
CA$259.15
Bombardier
7D
5.1%
1Y
198.1%
TRI
CA$122.42
Thomson Reuters
7D
1.3%
1Y
-51.3%
EFN
CA$30.49
Element Fleet Management
7D
-1.9%
1Y
2.7%
HPS.A
CA$179.89
Hammond Power Solutions
7D
-7.6%
1Y
120.0%
BYD
CA$170.49
Boyd Group Services
7D
-10.4%
1Y
-18.1%
BDT
CA$40.85
Bird Construction
7D
7.7%
1Y
86.8%
CNR
CA$143.39
Canadian National Railway
7D
1.9%
1Y
-0.1%

A Look At The Fair Value Of Canadian National Railway Company (TSE:CNR)

Oct 05
A Look At The Fair Value Of Canadian National Railway Company (TSE:CNR)
GFL
CA$60.43
GFL Environmental
7D
10.3%
1Y
-12.8%
ATRL
CA$92.08
AtkinsRéalis Group
7D
-2.8%
1Y
30.7%
CP
CA$108.44
Canadian Pacific Kansas City
7D
-1.9%
1Y
4.4%
STN
CA$121.32
Stantec
7D
-0.9%
1Y
-0.6%

Stantec (TSE:STN) Might Have The Makings Of A Multi-Bagger

Mar 23
Stantec (TSE:STN) Might Have The Makings Of A Multi-Bagger
ATS
CA$40.13
ATS
7D
-4.5%
1Y
7.0%

ATS (TSE:ATS) Has A Pretty Healthy Balance Sheet

Jan 03
ATS (TSE:ATS) Has A Pretty Healthy Balance Sheet
TFII
CA$153.63
TFI International
7D
4.3%
1Y
32.8%

TFI International (TSE:TFII) Is Experiencing Growth In Returns On Capital

Oct 30
TFI International (TSE:TFII) Is Experiencing Growth In Returns On Capital
TIH
CA$197.77
Toromont Industries
7D
2.1%
1Y
71.7%