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Canadian (TSX) Construction Industry Analysis

UpdatedApr 16, 2026
DataAggregated Company Financials
Companies10
  • 7D3.8%
  • 3M-7.9%
  • 1Y9.6%
  • YTD-2.3%

Over the last 7 days, the Construction industry has risen 4.8%, driven by gains from WSP Global of 3.8%. In the last 12 months, the industry was up 8.4%. Looking forward, earnings are forecast to grow by 14% annually.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Thu, 16 Apr 2026CA$67.6bCA$45.8bCA$4.2b29.8x16.1x1.5x
Sat, 14 Mar 2026CA$65.5bCA$45.8bCA$4.2b28.8x15.6x1.4x
Mon, 09 Feb 2026CA$75.4bCA$44.9bCA$4.1b27.6x18.3x1.7x
Wed, 07 Jan 2026CA$71.0bCA$44.9bCA$4.1b28.8x17.2x1.6x
Fri, 05 Dec 2025CA$67.4bCA$44.9bCA$4.1b29.8x16.3x1.5x
Sun, 02 Nov 2025CA$75.3bCA$43.7bCA$3.9b31.6x19.2x1.7x
Tue, 30 Sep 2025CA$73.8bCA$43.4bCA$4.0b26.2x18.6x1.7x
Thu, 28 Aug 2025CA$73.8bCA$43.4bCA$4.0b25.6x18.6x1.7x
Sat, 26 Jul 2025CA$75.5bCA$41.9bCA$1.4b44.8x52.1x1.8x
Mon, 23 Jun 2025CA$72.2bCA$41.9bCA$1.4b42.9x49.8x1.7x
Wed, 21 May 2025CA$71.3bCA$42.0bCA$1.4b42x49.2x1.7x
Fri, 18 Apr 2025CA$62.0bCA$40.4bCA$1.4b38.1x43.6x1.5x
Sun, 16 Mar 2025CA$61.1bCA$40.5bCA$1.4b37.4x42.9x1.5x
Tue, 11 Feb 2025CA$62.7bCA$38.7bCA$1.4b36.6x45x1.6x
Thu, 09 Jan 2025CA$62.1bCA$38.7bCA$1.4b36.2x44.4x1.6x
Sat, 07 Dec 2024CA$65.7bCA$38.7bCA$1.4b40.1x47.1x1.7x
Mon, 04 Nov 2024CA$62.4bCA$37.7bCA$1.3b36.8x46.7x1.7x
Wed, 02 Oct 2024CA$56.1bCA$37.6bCA$1.4b33.2x39.7x1.5x
Fri, 30 Aug 2024CA$53.9bCA$37.6bCA$1.4b37.2x37.9x1.4x
Sun, 28 Jul 2024CA$56.1bCA$36.7bCA$1.4b39.3x41.1x1.5x
Tue, 25 Jun 2024CA$53.0bCA$37.0bCA$1.5b34.1x35x1.4x
Thu, 23 May 2024CA$51.5bCA$37.0bCA$1.5b30.8x34x1.4x
Sat, 20 Apr 2024CA$51.8bCA$36.5bCA$1.5b30.4x35.5x1.4x
Mon, 18 Mar 2024CA$54.0bCA$36.5bCA$1.5b30.6x37x1.5x
Wed, 14 Feb 2024CA$47.7bCA$35.8bCA$1.3b32.9x36.6x1.3x
Fri, 12 Jan 2024CA$46.3bCA$35.8bCA$1.3b31.6x35.5x1.3x
Sun, 10 Dec 2023CA$45.7bCA$35.8bCA$1.3b30.7x35x1.3x
Tue, 07 Nov 2023CA$42.6bCA$34.5bCA$1.2b28x36.6x1.2x
Thu, 05 Oct 2023CA$43.3bCA$34.6bCA$1.1b29.6x41.1x1.3x
Sat, 02 Sep 2023CA$44.0bCA$34.6bCA$1.1b31.1x41.8x1.3x
Mon, 31 Jul 2023CA$41.4bCA$33.1bCA$893.2m34.2x46.4x1.3x
Wed, 28 Jun 2023CA$38.6bCA$33.1bCA$858.5m30.3x44.9x1.2x
Fri, 26 May 2023CA$37.9bCA$33.1bCA$859.6m29x44x1.1x
Sun, 23 Apr 2023CA$39.2bCA$31.8bCA$800.4m38.8x49x1.2x
Price to Earnings Ratio

49x


Total Market Cap: CA$39.2bTotal Earnings: CA$800.4mTotal Revenue: CA$31.8bTotal Market Cap vs Earnings and Revenue0%0%0%
Canadian Construction Industry Price to Earnings3Y Average 36.1x202420252026
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 15.8x which is lower than its 3-year average PE of 36.2x.
  • The industry is trading close to its 3-year average PS ratio of 1.5x.
Past Earnings Growth
  • The earnings for companies in the Construction industry have grown 74% per year over the last three years.
  • Revenues for these companies have grown 13% 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 Market1.73%
Industrials1.28%
Construction3.80%
Construction and Engineering3.80%
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$228.303.8%
+CA$1.1b		-8.4%PE31.9x
ATRL AtkinsRéalis GroupCA$94.034.5%
+CA$660.7m		35.3%PE5.9x
STN StantecCA$125.072.9%
+CA$403.8m		3.8%PE29.8x
ARE Aecon GroupCA$46.737.4%
+CA$219.8m		171.5%PE211x
BDT Bird ConstructionCA$45.093.3%
+CA$79.2m		120.5%PE52.7x

Latest News

PWER
CA$0.28
Global Power Solutions
7D
7.5%
1Y
280.0%
BDT
CA$45.09
Bird Construction
7D
3.3%
1Y
120.5%
STN
CA$125.07
Stantec
7D
2.9%
1Y
3.8%
ATRL
CA$94.03
AtkinsRéalis Group
7D
4.5%
1Y
35.3%

ATRL: Nuclear And AI Infrastructure Pipeline Will Support Long Term Rerating

Analysts have trimmed their average price target for AtkinsRéalis Group by about CA$1. This reflects slightly higher discount rates and a modestly lower fair value estimate, while keeping revenue growth, profit margin, and future P/E assumptions broadly unchanged.
BDGI
CA$62.44
Badger Infrastructure Solutions
7D
-0.1%
1Y
67.3%

BDGI: Dividend Growth And Margin Strength Will Support Future Earnings Power

Narrative Update on Badger Infrastructure Solutions The analyst price target for Badger Infrastructure Solutions has been reduced by CA$5 to CA$80. Analysts cite more tempered revenue growth expectations, along with slightly stronger projected profit margins and a similar forward P/E profile, as the key factors behind this revision.
SUNN
CA$0.99
PowerBank
7D
26.9%
1Y
-69.3%
WSP
CA$228.30
WSP Global
7D
3.8%
1Y
-8.4%

WSP: Future Cash Flows Will Support Confidence In Premium Earnings Multiple

Analyst price targets for WSP Global have moved within a CA$284 to CA$343 range, as recent updates reflect mixed revisions supported by ongoing reassessments of the company's valuation framework and a slightly higher discount rate applied in current models. Analyst Commentary Recent research reports point to a mixed but generally constructive stance on WSP Global, with several analysts adjusting their models and price targets within a relatively tight CA$284 to CA$343 band.
ARE
CA$46.73
Aecon Group
7D
7.4%
1Y
171.5%

ARE: Future Returns Will Reflect Equity Raise Strength And Backlog Execution Risk

Aecon Group's updated analyst price target reflects a higher fair value estimate of CA$44.64, supported by recent target raises from multiple firms and analyst expectations for slightly stronger revenue growth and a higher future P/E multiple, partially balanced by modestly lower profit margin assumptions. Analyst Commentary Recent Street research around Aecon Group focuses on higher price targets and a mix of ratings that range from Hold and Sector Perform to Buy.
ACL
CA$0.18
A.C.L. Construction
7D
15.6%
1Y
n/a