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Canadian (TSX) Commercial Services Industry Analysis

UpdatedJan 30, 2026
DataAggregated Company Financials
Companies21
  • 7D-3.4%
  • 3M-4.5%
  • 1Y1.8%
  • YTD-1.1%

Over the last 7 days, the Commercial Services industry has dropped 3.4%, driven by GFL Environmental declining 5.4%. Meanwhile, Calian Group actually outperformed within the industry, gaining 7.3% in the last week. Over the last year, the industry has been flat overall. As for the next few years, earnings are forecast to decline by 6.2% per annum.

Industry Valuation and Performance

Has the Canadian Commercial Services Industry valuation changed over the past few years?

DateMarket CapRevenueEarningsPEAbsolute PEPS
Fri, 30 Jan 2026CA$46.0bCA$21.8bCA$765.9m23x60.1x2.1x
Sun, 28 Dec 2025CA$46.7bCA$21.9bCA$769.6m24.1x60.7x2.1x
Tue, 25 Nov 2025CA$47.7bCA$22.1bCA$768.7m21.4x62.1x2.2x
Thu, 23 Oct 2025CA$47.2bCA$21.8bCA$613.6m22.4x76.9x2.2x
Sat, 20 Sep 2025CA$47.1bCA$21.7bCA$605.8m21.9x77.7x2.2x
Mon, 18 Aug 2025CA$48.3bCA$20.9bCA$597.9m24.4x80.8x2.3x
Wed, 16 Jul 2025CA$46.9bCA$20.8b-CA$215,143,667.0322.3x-217.8x2.3x
Fri, 13 Jun 2025CA$46.0bCA$20.7b-CA$204,300,508.9519.6x-225.3x2.2x
Sun, 11 May 2025CA$46.0bCA$20.9b-CA$213,490,876.6621.7x-215.3x2.2x
Tue, 08 Apr 2025CA$44.1bCA$20.9b-CA$219,945,727.0621.9x-200.6x2.1x
Thu, 06 Mar 2025CA$45.6bCA$21.0b-CA$157,432,321.3820.8x-289.6x2.2x
Sat, 01 Feb 2025CA$45.5bCA$21.0bCA$36.9m23.2x1233.7x2.2x
Mon, 30 Dec 2024CA$45.4bCA$21.0bCA$31.1m23.7x1458.1x2.2x
Wed, 27 Nov 2024CA$46.3bCA$20.8bCA$29.7m24.8x1560.1x2.2x
Fri, 25 Oct 2024CA$42.8bCA$20.5b-CA$89,476,719.0123.7x-477.9x2.1x
Sun, 22 Sep 2024CA$40.5bCA$20.4b-CA$101,448,046.1223.8x-398.9x2x
Tue, 20 Aug 2024CA$40.6bCA$20.4b-CA$103,623,611.0332.7x-391.6x2x
Thu, 18 Jul 2024CA$39.6bCA$20.3bCA$660.8m30.5x59.9x2x
Sat, 15 Jun 2024CA$38.4bCA$20.4bCA$622.6m31.6x61.6x1.9x
Mon, 13 May 2024CA$34.7bCA$20.1bCA$639.2m21.3x54.4x1.7x
Wed, 10 Apr 2024CA$36.4bCA$20.0bCA$601.3m29.9x60.5x1.8x
Fri, 08 Mar 2024CA$37.0bCA$19.7bCA$554.0m30.2x66.8x1.9x
Sun, 04 Feb 2024CA$37.4bCA$19.7bCA$219.5m22.7x170.3x1.9x
Tue, 02 Jan 2024CA$35.2bCA$19.6bCA$211.9m21.9x166.2x1.8x
Thu, 30 Nov 2023CA$23.2bCA$17.8b-CA$207,281,533.0017.4x-112.1x1.3x
Sat, 28 Oct 2023CA$23.1bCA$17.5b-CA$400,540,066.0026.5x-57.8x1.3x
Mon, 25 Sep 2023CA$25.6bCA$17.4b-CA$407,511,146.0031x-62.9x1.5x
Wed, 23 Aug 2023CA$26.3bCA$17.4b-CA$417,587,047.0018.6x-62.9x1.5x
Fri, 21 Jul 2023CA$28.2bCA$16.5b-CA$682,601,826.0027.4x-41.3x1.7x
Sun, 18 Jun 2023CA$28.2bCA$16.5b-CA$682,538,338.0026.2x-41.4x1.7x
Tue, 16 May 2023CA$28.2bCA$16.6b-CA$692,282,001.0022.1x-40.8x1.7x
Thu, 13 Apr 2023CA$25.3bCA$15.7b-CA$369,660,710.0020.1x-68.4x1.6x
Sat, 11 Mar 2023CA$24.4bCA$15.6b-CA$334,183,418.0016x-73.1x1.6x
Mon, 06 Feb 2023CA$23.6bCA$15.3b-CA$157,387,575.0014.9x-150.2x1.5x
Price to Earnings Ratio

-150.2x


Total Market Cap: CA$23.6bTotal Earnings: -CA$157,387,575.00Total Revenue: CA$15.3bTotal Market Cap vs Earnings and Revenue0%0%0%
Canadian Commercial Services Industry Price to Earnings3Y Average 101.7x202420252026
Current Industry PE
  • Investors are pessimistic on the Canadian Commercial Services 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 60.1x which is lower than its 3-year average PE of 102x.
  • The 3-year average PS ratio of 1.9x is lower than the industry's current PS ratio of 2.1x.
Past Earnings Growth
  • Total earnings for the Commercial Services industry have gone up over the last three years, and the industry is now profitable. Revenues have grown 13% per year.
  • This means that more sales are being generated by the industry overall, and subsequently profits are increasing too.

Industry Trends

Which industries have driven the changes within the Canadian Industrials industry?

CA Market-0.049%
Industrials-2.36%
Commercial Services-3.41%
Office Services and Supplies0%0
Diversified Support Services-1.53%
Security and Alarm Services-2.99%
Environmental and Facilities Services-5.36%
Commercial Printing-6.21%
Industry PE
  • Investors are most optimistic about the Security and Alarm Services industry which is trading above its 3-year average PE ratio of 4.0x.
    • It looks like they are confident that earnings will grow faster in the future than they have historically.
Forecasted Growth
  • Analysts are most optimistic on the Diversified Support Services industry, expecting annual earnings growth of 32% over the next 5 years.
  • This is better than its past earnings growth rate of 18% per year.
  • In contrast, the Environmental and Facilities Services industry is expected to see its earnings decline by 46% 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
CGY Calian GroupCA$66.567.3%
+CA$51.9m		33.0%PE36.9x
BQE BQE WaterCA$71.004.4%
+CA$3.9m		17.9%PE12.1x
NVRO EnviroGold GlobalCA$0.143.8%
+CA$2.4m		50.0%PS308.9x
SERV Elevate Service GroupCA$1.351.5%
+CA$1.2m		n/aPE-4.3x
GDI GDI Integrated Facility ServicesCA$36.330.1%
+CA$1.2m		2.3%PE20.4x

Latest News

EFN
CA$34.15
Element Fleet Management
7D
-1.8%
1Y
16.6%

Subdued Growth No Barrier To Element Fleet Management Corp.'s (TSE:EFN) Price

Jan 29
Subdued Growth No Barrier To Element Fleet Management Corp.'s (TSE:EFN) Price
CGY
CA$66.56
Calian Group
7D
7.3%
1Y
33.0%

CGY: Defence Contracts And Buybacks Will Support A Measured Future Return Profile

Analysts now see Calian Group’s fair value at about $67 per share, up from roughly $65.33. This reflects small adjustments to the discount rate, revenue growth, profit margin and expected future P/E assumptions.
SERV
CA$1.35
Elevate Service Group
7D
1.5%
1Y
n/a
BYD
CA$219.14
Boyd Group Services
7D
-2.6%
1Y
-8.9%

BYD: Future Upside Will Be Driven By Premium Earnings Execution Confidence

The analyst price target for Boyd Group Services has been nudged higher to C$272.60, with analysts pointing to refreshed DCF inputs, a modestly adjusted discount rate, and updated revenue growth, margin, and future P/E assumptions as key drivers of the change. Analyst Commentary Recent Street research on Boyd Group Services has clustered around higher price targets and positive ratings, with several bullish analysts refining their models rather than changing their overall stance on the company.
GFL
CA$58.28
GFL Environmental
7D
-5.4%
1Y
-7.7%

GFL: Fair Value View Will Balance Share Offering And Margin Reset

Analysts now place their fair value estimate for GFL Environmental at $60.00, up from $58.00, citing updated assumptions around discount rates, revenue growth, profit margins, and a much higher forward P/E multiple in their models. What's in the News GFL Environmental filed a follow on equity offering of 16,611,295 Subordinate Voting Shares, classified as common stock.
GIP
CA$2.55
Green Impact Partners
7D
-7.3%
1Y
-32.9%
ANRG
CA$2.42
Anaergia
7D
-8.7%
1Y
126.2%

ANRG: New Waste-To-Energy Contracts Will Support Stronger Future Cash Flows

Analysts have trimmed their price targets on Anaergia to reflect a slightly lower discount rate, along with updated assumptions for revenue growth, profit margins and future P/E. Their overall valuation view remains broadly unchanged in currency terms.
ROOF
CA$0.23
Northstar Clean Technologies
7D
0%
1Y
-33.8%
NVRO
CA$0.14
EnviroGold Global
7D
3.8%
1Y
50.0%
LUX
CA$0.045
Newlox Gold Ventures
7D
12.5%
1Y
n/a
KBL
CA$34.01
K-Bro Linen
7D
-1.6%
1Y
-10.5%

K-Bro Linen (TSE:KBL) Has Announced A Dividend Of CA$0.10

Jan 20
K-Bro Linen (TSE:KBL) Has Announced A Dividend Of CA$0.10
DCM
CA$1.66
DATA Communications Management
7D
-6.2%
1Y
-19.8%
GDI
CA$36.33
GDI Integrated Facility Services
7D
0.1%
1Y
2.3%
BQE
CA$71.00
BQE Water
7D
4.4%
1Y
17.9%

There's No Escaping BQE Water Inc.'s (CVE:BQE) Muted Earnings Despite A 26% Share Price Rise

Dec 27
There's No Escaping BQE Water Inc.'s (CVE:BQE) Muted Earnings Despite A 26% Share Price Rise
PYR
CA$0.24
PyroGenesis
7D
-9.4%
1Y
-56.4%
VTX
CA$0.20
Vertex Resource Group
7D
5.3%
1Y
-16.7%