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Canadian (TSX) Construction Industry Analysis

UpdatedJan 15, 2026
DataAggregated Company Financials
Companies10
  • 7D2.9%
  • 3M-4.7%
  • 1Y19.1%
  • YTD5.2%

Over the last 7 days, the Construction industry has risen 2.9%, driven by gains from WSP Global of 3.7%. This takes the industry's 12 month performance to a gain of 19%. Looking forward, earnings are forecast to grow by 12% annually.

Industry Valuation and Performance

Has the Canadian Construction Industry valuation changed over the past few years?

DateMarket CapRevenueEarningsPEAbsolute PEPS
Thu, 15 Jan 2026CA$73.6bCA$44.9bCA$4.1b30.5x17.8x1.6x
Sat, 13 Dec 2025CA$67.1bCA$44.9bCA$4.1b30.4x16.3x1.5x
Mon, 10 Nov 2025CA$72.3bCA$44.3bCA$4.0b28.5x18x1.6x
Wed, 08 Oct 2025CA$75.8bCA$43.4bCA$3.9b27.7x19.2x1.7x
Fri, 05 Sep 2025CA$73.9bCA$43.4bCA$4.0b24.7x18.7x1.7x
Sun, 03 Aug 2025CA$74.6bCA$42.4bCA$1.6b46.7x47.3x1.8x
Tue, 01 Jul 2025CA$74.1bCA$41.9bCA$1.4b44x51.1x1.8x
Thu, 29 May 2025CA$73.0bCA$41.9bCA$1.4b42.7x50.4x1.7x
Sat, 26 Apr 2025CA$62.5bCA$40.6bCA$1.4b38.1x44.9x1.5x
Mon, 24 Mar 2025CA$61.4bCA$40.5bCA$1.4b37.2x43.1x1.5x
Wed, 19 Feb 2025CA$61.8bCA$38.7bCA$1.4b35.8x44.4x1.6x
Fri, 17 Jan 2025CA$61.4bCA$38.7bCA$1.4b36.1x43.9x1.6x
Sun, 15 Dec 2024CA$63.8bCA$38.7bCA$1.4b38.5x45.7x1.6x
Tue, 12 Nov 2024CA$61.1bCA$38.4bCA$1.4b36.7x43.7x1.6x
Thu, 10 Oct 2024CA$57.9bCA$37.6bCA$1.4b35.1x41x1.5x
Sat, 07 Sep 2024CA$52.2bCA$37.6bCA$1.4b35.2x36.7x1.4x
Mon, 05 Aug 2024CA$54.3bCA$37.0bCA$1.4b38.6x38.8x1.5x
Wed, 03 Jul 2024CA$54.2bCA$37.0bCA$1.5b33.9x35.7x1.5x
Fri, 31 May 2024CA$50.7bCA$37.0bCA$1.5b30.9x33.5x1.4x
Sun, 28 Apr 2024CA$52.9bCA$36.3bCA$1.5b31.2x36.2x1.5x
Tue, 26 Mar 2024CA$55.4bCA$36.5bCA$1.5b32.1x38x1.5x
Thu, 22 Feb 2024CA$49.6bCA$35.8bCA$1.3b33.2x38.1x1.4x
Sat, 20 Jan 2024CA$47.2bCA$35.8bCA$1.3b33x36.2x1.3x
Mon, 18 Dec 2023CA$45.0bCA$35.8bCA$1.3b30.1x34.6x1.3x
Wed, 15 Nov 2023CA$44.8bCA$35.8bCA$1.3b28.4x34.4x1.3x
Fri, 13 Oct 2023CA$44.7bCA$34.6bCA$1.1b30.6x42.5x1.3x
Sun, 10 Sep 2023CA$43.7bCA$34.6bCA$1.1b30.5x41.5x1.3x
Tue, 08 Aug 2023CA$41.8bCA$33.4bCA$964.1m32.2x43.4x1.3x
Thu, 06 Jul 2023CA$39.3bCA$33.1bCA$858.7m31.9x45.8x1.2x
Sat, 03 Jun 2023CA$39.0bCA$33.1bCA$859.1m30.2x45.4x1.2x
Mon, 01 May 2023CA$39.1bCA$31.9bCA$808.5m38.9x48.3x1.2x
Wed, 29 Mar 2023CA$37.7bCA$31.8bCA$800.6m39.1x47.1x1.2x
Fri, 24 Feb 2023CA$37.5bCA$30.8bCA$822.3m42.2x45.6x1.2x
Sun, 22 Jan 2023CA$36.1bCA$30.6bCA$765.0m44.4x47.2x1.2x
Price to Earnings Ratio

47.2x


Total Market Cap: CA$36.1bTotal Earnings: CA$765.0mTotal Revenue: CA$30.6bTotal Market Cap vs Earnings and Revenue0%0%0%
Canadian Construction Industry Price to Earnings3Y Average 38.7x202420252026
Current Industry PE
  • Investors are pessimistic on the Canadian Construction 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 17.8x which is lower than its 3-year average PE of 38.7x.
  • The 3-year average PS ratio of 1.5x is lower than the industry's current PS ratio of 1.6x.
Past Earnings Growth
  • The earnings for companies in the Construction industry have grown 75% per year over the last three years.
  • Revenues for these companies have grown 14% 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 industry?

CA Market2.82%
Industrials1.98%
Construction2.85%
Construction and Engineering2.85%
Industry PEThere are no additional sub-industries under this industry.
Forecasted GrowthThere are no additional sub-industries under this industry.

Top Stock Gainers and Losers

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

CompanyLast Price7D1YValuation
WSP WSP GlobalCA$266.583.7%
+CA$1.3b		9.1%PE41.1x
ATRL AtkinsRéalis GroupCA$94.843.4%
+CA$518.1m		30.5%PE6x
BDGI Badger Infrastructure SolutionsCA$77.458.0%
+CA$193.0m		109.7%PE30.5x
STN StantecCA$136.500.3%
+CA$45.6m		23.1%PE32.2x
ARE Aecon GroupCA$32.020.5%
+CA$31.8m		31.8%PE242.4x

Latest News

STN
CA$136.50
Stantec
7D
0.3%
1Y
23.1%

STN: New Global Energy Mandates Will Support Long Term Earnings Momentum

Analysts have kept their price target for Stantec broadly steady at about $168.82, with only minor tweaks to inputs such as the discount rate, expected revenue growth, and profit margin assumptions driving this small recalibration. What's in the News Stantec secured the second phase of the European Commission's Global Technical Assistance Facility for Sustainable Energy, a €27.7 million (C$45.4 million) assignment that runs to October 2028 and supports sustainable energy access and energy transition efforts across multiple regions, coordinated from Belgium (Key Developments).
BDGI
CA$77.45
Badger Infrastructure Solutions
7D
8.0%
1Y
109.7%

BDGI: Fair Outlook Will Emphasize Margin Drift And Pause In Buybacks

Analysts have trimmed their price target for Badger Infrastructure Solutions to about $80.06 from $80.50, reflecting updated assumptions for slightly higher discount rates and revenue growth, paired with modestly lower profit margin and future P/E expectations. What's in the News From July 1, 2025 to August 25, 2025, Badger Infrastructure Solutions reported no share repurchases.
WSP
CA$266.58
WSP Global
7D
3.7%
1Y
9.1%

WSP: Future Cash Flows Will Support Confidence In Jacobs Takeover Proposal

Analysts have trimmed their average fair value estimate for WSP Global to about $331.62 from roughly $322.11, reflecting a mix of slightly different P/E assumptions, modestly adjusted revenue and margin forecasts, and recent price target moves in the range of C$305 to C$342. Analyst Commentary Recent Street research on WSP Global clusters around higher price targets and positive ratings, with only modest target trims at the margin.
ARE
CA$32.02
Aecon Group
7D
0.5%
1Y
31.8%

ARE: Backlog And New Contracts Will Support Balanced Medium Term Earnings Outlook

Aecon Group’s analyst price targets have recently shifted higher, with moves such as RBC Capital’s increase to C$30 from C$26 and other targets in the C$32 to C$35 range. Analysts are reassessing the company using updated assumptions for growth, margins and valuation multiples.
ATRL
CA$94.84
AtkinsRéalis Group
7D
3.4%
1Y
30.5%

ATRL: Defence And Nuclear Contracts Will Support Long Term Earnings Momentum

Analysts have made a modest trim to their fair value estimate for AtkinsRéalis Group to about $116.0. This reflects a slightly higher discount rate and tweaks to growth and margin assumptions, even as recent Street research has clustered around higher price targets in the C$110 to C$125 range. Analyst Commentary Street research on AtkinsRéalis Group has clustered in a relatively tight band, with several price targets now sitting between C$110 and C$125.
BDT
CA$29.30
Bird Construction
7D
-1.1%
1Y
27.8%

Bird Construction (TSE:BDT) Is Due To Pay A Dividend Of CA$0.07

Dec 21
Bird Construction (TSE:BDT) Is Due To Pay A Dividend Of CA$0.07
PWER
CA$0.50
Global Power Solutions
7D
19.0%
1Y
566.7%