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Canadian (TSX) Electrical Industry Analysis

UpdatedJul 26, 2026
DataAggregated Company Financials
Companies13
  • 7D-1.3%
  • 3M4.2%
  • 1Y80.5%
  • YTD42.7%

Over the last 7 days, the Electrical industry has dropped 1.3%, driven by Electrovaya declining 11%. Meanwhile, Ballard Power Systems actually outperformed within the industry, gaining 7.9% in the last week. Over the past 12 months, the industry was up 82%. As for the next few years, earnings are expected to grow by 33% per annum.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Sun, 26 Jul 2026CA$6.9bCA$2.8b-CA$86,603,467.2666.2x-80.2x2.5x
Tue, 23 Jun 2026CA$7.6bCA$1.5b-CA$90,079,863.7965.3x-84.5x5.1x
Thu, 21 May 2026CA$6.9bCA$1.5b-CA$85,476,169.1653.9x-80.3x4.6x
Sat, 18 Apr 2026CA$5.3bCA$1.4b-CA$92,872,957.2537.3x-57.1x3.8x
Mon, 16 Mar 2026CA$4.5bCA$1.4b-CA$101,924,695.6427.1x-44.6x3.3x
Wed, 11 Feb 2026CA$4.7bCA$1.3b-CA$120,099,236.4429.5x-39.1x3.5x
Fri, 09 Jan 2026CA$4.6bCA$1.3b-CA$123,118,896.2423.8x-37.1x3.4x
Sun, 07 Dec 2025CA$4.2bCA$1.3b-CA$125,244,037.3425.3x-33.9x3.2x
Tue, 04 Nov 2025CA$5.0bCA$1.3b-CA$364,159,730.9831.7x-13.9x3.9x
Thu, 02 Oct 2025CA$3.5bCA$1.3b-CA$365,385,934.1418.8x-9.5x2.7x
Sat, 30 Aug 2025CA$3.1bCA$1.3b-CA$359,183,432.5117.7x-8.7x2.5x
Mon, 28 Jul 2025CA$3.1bCA$1.3b-CA$384,744,908.2811.6x-7.9x2.4x
Wed, 25 Jun 2025CA$2.7bCA$1.2b-CA$370,737,773.4710.7x-7.3x2.2x
Fri, 23 May 2025CA$2.4bCA$1.2b-CA$368,997,905.859.3x-6.5x2x
Sun, 20 Apr 2025CA$2.1bCA$1.2b-CA$717,209,300.379.4x-3x1.7x
Tue, 18 Mar 2025CA$2.2bCA$1.2b-CA$731,093,117.259.9x-3.1x1.9x
Thu, 13 Feb 2025CA$2.4bCA$1.2b-CA$724,061,242.176.1x-3.4x2x
Sat, 11 Jan 2025CA$2.9bCA$1.2b-CA$730,460,226.486.2x-4x2.3x
Mon, 09 Dec 2024CA$2.9bCA$1.2b-CA$709,722,463.6515x-4.1x2.4x
Wed, 06 Nov 2024CA$2.8bCA$1.2b-CA$471,538,771.9820.5x-5.9x2.3x
Fri, 04 Oct 2024CA$3.1bCA$1.2b-CA$272,737,647.0224.9x-11.4x2.6x
Sun, 01 Sep 2024CA$2.9bCA$1.2b-CA$303,989,578.4522.6x-9.7x2.4x
Tue, 30 Jul 2024CA$3.1bCA$1.2b-CA$279,707,727.3819.6x-11.2x2.6x
Thu, 27 Jun 2024CA$2.9bCA$1.2b-CA$288,658,045.9623.1x-10.2x2.5x
Sat, 25 May 2024CA$3.5bCA$1.2b-CA$290,248,580.0316.9x-12.1x3x
Mon, 22 Apr 2024CA$3.4bCA$1.2b-CA$259,507,982.0024.8x-13x2.9x
Wed, 20 Mar 2024CA$3.2bCA$1.1b-CA$257,367,250.4122.9x-12.4x2.8x
Fri, 16 Feb 2024CA$3.4bCA$1.1b-CA$272,421,081.3620.4x-12.4x3.1x
Sun, 14 Jan 2024CA$3.2bCA$1.1b-CA$283,627,415.0016.3x-11.1x2.8x
Tue, 12 Dec 2023CA$3.2bCA$1.1b-CA$296,534,770.0015.5x-10.9x2.9x
Thu, 09 Nov 2023CA$3.2bCA$1.1b-CA$310,717,185.0012.7x-10.3x2.9x
Sat, 07 Oct 2023CA$3.0bCA$1.1b-CA$283,374,837.0010.3x-10.7x2.8x
Mon, 04 Sep 2023CA$3.3bCA$1.1b-CA$275,033,670.0011.4x-12x3.1x
Wed, 02 Aug 2023CA$3.5bCA$1.0b-CA$298,553,504.0013.5x-11.6x3.4x
Price to Earnings Ratio

-11.6x


Total Market Cap: CA$3.5bTotal Earnings: -CA$298,553,504.00Total Revenue: CA$1.0bTotal Market Cap vs Earnings and Revenue0%0%0%
Canadian Electrical Industry Price to Earnings3Y Average -20x202420252026
Current Industry PE
  • Investors are relatively neutral on the Canadian Electrical industry at the moment, indicating that they anticipate long term growth rates to remain steady.
  • The industry is trading close to its 3-year average PS ratio of 2.9x.
Past Earnings Growth
  • The earnings for companies in the Electrical industry have improved over the last three years.
  • Revenues for these companies have grown 39% per year.
  • This means that more sales are being generated by these companies overall, and subsequently losses are decreasing too.

Industry Trends

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

CA Market0.56%
Industrials-1.40%
Electrical-1.33%
Heavy Electrical Equipment0%0
Electrical Components-1.33%
Industry PE
    Forecasted Growth
    • Analysts are most optimistic on the Electrical Components industry, expecting annual earnings growth of 33% over the next 5 years.
    • This is better than its past earnings decline of 27% per year.
    • In contrast, the Electrical Components industry is expected to see its earnings grow by 33% 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
    		BLDP Ballard Power SystemsCA$4.097.9%
    +CA$90.4m    		40.5%PS8.5x
    		SPRQ SPARQ SystemsCA$1.181.7%
    +CA$2.3m    		66.2%PS53x
    		SWAN Black Swan GrapheneCA$0.892.3%
    +CA$1.1m    		-38.6%PB4x
    		HEAT Hillcrest Energy TechnologiesCA$0.163.2%
    +CA$1.0m    		77.8%PE-4.6x
    		ABND Abound EnergyCA$0.1530.4%
    +CA$609.9k    		-9.1%PS583.5x

    Latest News

    ELVA
    CA$11.78
    Electrovaya
    7D
    -11.4%
    1Y
    91.2%
    Narrative Update • Jul 24

    ELVA: Amazon Concentration Risk Will Test Jamestown Expansion And Margin Assumptions

    Electrovaya's updated analyst price target shifts to CA$9.48 from CA$11.11, reflecting analysts' incorporation of recent price target increases tied to the long running Amazon relationship, new supply and energy storage agreements, and progress at the Jamestown facility, alongside adjustments to revenue growth, profit margin, discount rate, and assumed future P/E. Analyst Commentary Recent Street research on Electrovaya has centered on its long running relationship with Amazon, progress at the Jamestown manufacturing facility, and the company’s ability to scale energy storage and material handling battery sales while managing execution risk and valuation expectations.
    HPS.A
    CA$274.54
    Hammond Power Solutions
    7D
    -1.6%
    1Y
    137.6%
    MATR
    CA$17.81
    Mattr
    7D
    -2.6%
    1Y
    44.1%
    Narrative Update • Jul 21

    MATR: Upgraded 2026 Outlook Will Eventually Expose Execution Shortfall Risk

    Mattr’s analyst price target has increased from CA$22 to CA$23 on recent reports, with analysts citing very strong Q1 and preliminary Q2 updates, stronger margin guidance, and an improved 2026 outlook as key drivers behind the revised fair value inputs and higher projected profit margins. Analyst Commentary Recent Street research on Mattr highlights a clear shift in sentiment, with several firms lifting ratings and price targets following strong Q1 results, upgraded 2026 guidance, and a very strong preliminary Q2 update.
    SWAN
    CA$0.89
    Black Swan Graphene
    7D
    2.3%
    1Y
    -38.6%
    BLDP
    CA$4.09
    Ballard Power Systems
    7D
    7.9%
    1Y
    40.5%
    Narrative Update • Jul 20

    BLDP: Recent Contract Momentum Will Likely Support Improving Profitability Outlook

    Ballard Power Systems' updated analyst fair value estimate has moved from CA$4.16 to CA$4.62. This reflects analysts' latest price target revisions that balance improving margins and contract wins against tempered expectations following the recent cut to a CA$3.50 target by one firm ahead of Q2 results.
    EMM
    CA$0.075
    Giyani Metals
    7D
    -21.1%
    1Y
    15.4%
    QESS
    CA$0.31
    Aegis Critical Energy Defence
    7D
    -10.1%
    1Y
    121.4%
    HEAT
    CA$0.16
    Hillcrest Energy Technologies
    7D
    3.2%
    1Y
    77.8%
    GMG
    CA$2.03
    Graphene Manufacturing Group
    7D
    -5.6%
    1Y
    141.7%
    ABND
    CA$0.15
    Abound Energy
    7D
    30.4%
    1Y
    -9.1%
    UVC
    CA$0.68
    Illumisoft Lighting
    7D
    -12.8%
    1Y
    n/a
    GRD
    CA$0.06
    Grounded Lithium
    7D
    9.1%
    1Y
    -7.7%
    HPSS
    CA$0.06
    Hybrid Power Solutions
    7D
    9.1%
    1Y
    9.1%
    SPRQ
    CA$1.18
    SPARQ Systems
    7D
    1.7%
    1Y
    66.2%
    HMM.A
    CA$17.00
    Hammond Manufacturing
    7D
    -2.9%
    1Y
    75.3%