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

Investors are optimistic on the Canadian Electrical industry, and appear confident in long term growth rates. The 3-year average PS ratio of 2.8x is lower than the industry's current PS ratio of 5.1x.

Canadian (TSX) Electrical Industry Analysis

Date	Market Cap	Revenue	Earnings	PE	Absolute PE	PS
Wed, 24 Jun 2026	CA$7.6b	CA$1.5b	-CA$90,079,863.79	65.3x	-84.5x	5.1x
Fri, 22 May 2026	CA$7.0b	CA$1.5b	-CA$85,796,694.23	54.3x	-82x	4.7x
Sun, 19 Apr 2026	CA$5.4b	CA$1.4b	-CA$92,872,957.25	37.3x	-58.2x	3.8x
Tue, 17 Mar 2026	CA$4.5b	CA$1.4b	-CA$101,924,695.64	27.1x	-44.6x	3.3x
Thu, 12 Feb 2026	CA$4.6b	CA$1.3b	-CA$120,389,871.02	30.8x	-38.6x	3.5x
Sat, 10 Jan 2026	CA$4.5b	CA$1.3b	-CA$123,746,579.14	24.4x	-36.6x	3.4x
Mon, 08 Dec 2025	CA$4.2b	CA$1.3b	-CA$125,244,037.34	25.3x	-33.9x	3.2x
Wed, 05 Nov 2025	CA$5.1b	CA$1.3b	-CA$365,925,192.29	30.1x	-13.9x	3.9x
Fri, 03 Oct 2025	CA$3.6b	CA$1.3b	-CA$365,969,963.73	18.8x	-9.8x	2.8x
Sun, 31 Aug 2025	CA$3.1b	CA$1.3b	-CA$359,262,378.51	17.7x	-8.6x	2.4x
Tue, 29 Jul 2025	CA$3.1b	CA$1.3b	-CA$385,687,557.29	11.9x	-7.9x	2.4x
Thu, 26 Jun 2025	CA$2.7b	CA$1.2b	-CA$370,556,485.68	10.8x	-7.3x	2.2x
Sat, 24 May 2025	CA$2.4b	CA$1.2b	-CA$364,714,370.31	9.1x	-6.6x	2x
Mon, 21 Apr 2025	CA$2.1b	CA$1.2b	-CA$717,209,300.37	9.4x	-3x	1.7x
Wed, 19 Mar 2025	CA$2.3b	CA$1.2b	-CA$731,458,798.66	9.9x	-3.1x	1.9x
Fri, 14 Feb 2025	CA$2.5b	CA$1.2b	-CA$720,848,008.20	6x	-3.4x	2x
Sun, 12 Jan 2025	CA$2.9b	CA$1.2b	-CA$730,460,226.48	6.2x	-3.9x	2.3x
Tue, 10 Dec 2024	CA$2.9b	CA$1.2b	-CA$710,508,761.62	15x	-4.1x	2.4x
Thu, 07 Nov 2024	CA$2.7b	CA$1.2b	-CA$474,588,031.58	20.9x	-5.8x	2.2x
Sat, 05 Oct 2024	CA$3.0b	CA$1.2b	-CA$272,950,554.56	25x	-11x	2.5x
Mon, 02 Sep 2024	CA$2.9b	CA$1.2b	-CA$303,989,578.45	22.6x	-9.7x	2.4x
Wed, 31 Jul 2024	CA$3.0b	CA$1.2b	-CA$279,699,701.89	20.1x	-10.8x	2.5x
Fri, 28 Jun 2024	CA$3.0b	CA$1.2b	-CA$288,548,833.89	23.6x	-10.3x	2.5x
Sun, 26 May 2024	CA$3.6b	CA$1.2b	-CA$290,248,580.03	16.9x	-12.4x	3x
Tue, 23 Apr 2024	CA$3.4b	CA$1.2b	-CA$259,507,982.00	24.8x	-13x	2.9x
Thu, 21 Mar 2024	CA$3.2b	CA$1.1b	-CA$256,212,317.33	22.6x	-12.4x	2.8x
Sat, 17 Feb 2024	CA$3.4b	CA$1.1b	-CA$272,743,902.83	20.4x	-12.3x	3.1x
Mon, 15 Jan 2024	CA$3.2b	CA$1.1b	-CA$283,627,415.00	16.3x	-11.1x	2.8x
Wed, 13 Dec 2023	CA$3.2b	CA$1.1b	-CA$296,872,010.00	15.5x	-10.7x	2.8x
Fri, 10 Nov 2023	CA$3.1b	CA$1.1b	-CA$310,873,467.00	13.1x	-10.1x	2.8x
Sun, 08 Oct 2023	CA$3.0b	CA$1.1b	-CA$283,374,837.00	10.3x	-10.7x	2.8x
Tue, 05 Sep 2023	CA$3.3b	CA$1.1b	-CA$275,033,670.00	11.4x	-12x	3.1x
Thu, 03 Aug 2023	CA$3.5b	CA$1.1b	-CA$299,604,346.00	12x	-11.6x	3.2x
Sat, 01 Jul 2023	CA$3.2b	CA$1.0b	-CA$297,849,510.00	11.2x	-10.6x	3.1x


CA Market	-0.94%
Industrials	-0.89%
Electrical	9.94%
Electrical Components	9.94%
Heavy Electrical Equipment	0%	0

Company	Last Price	7D	1Y	Valuation
HPS.A Hammond Power Solutions	CA$335.00	3.6% +CA$137.3m	185.9%	PE60.8x
BLDP Ballard Power Systems	CA$5.93	2.2% +CA$39.2m	195.0%	PS12.2x
ELVA Electrovaya	CA$14.07	4.6% +CA$30.7m	196.8%	PE97.9x
UVC Illumisoft Lighting	CA$0.80	21.2% +CA$6.5m	n/a	PS51.9x
GMG Graphene Manufacturing Group	CA$2.34	2.2% +CA$6.3m	277.4%	PS722.3x

Announcement • Jun 15

Aegis Critical Energy Defence Corp.'s HyprC Systems Inc. Announces the Launch of Its Next-Generation High-C-Rate Battery Platform

Aegis Critical Energy Defence Corp.'s HyprC Systems Inc. announced the launch of its next-generation high-C-rate battery platform, designed for the world's most demanding power applications in ports, AI data centres and hybrid nuclear energy systems. The launch is supported by a targeted multi-year investment program and a major research collaboration with McMaster University, to be led by Professor Saeid Habibi, a recognised leader in advanced control systems, fault diagnostics and battery energy storage research. The program will also support technology Aegis is developing in partnership with a major European automaker, where high- performance EV batteries will be designed into and used in the project. HyprC's platform is engineered for missions where power is a tactical asset and failure is not an option, providing instant, repeatable power at extreme C-rates for critical infrastructure and high-growth sectors. HyprC's advanced battery chemistry and system design focus on very high charge and discharge rate targeting 2 to 6 C - class and beyond, with minimal heat generation. The platform will target designs capable of supporting tens of thousands of deep cycles and deliver robust performance in harsh therm mechanical and electrical environments typical of heavy industry, defence and high-density compute. These attributes would enable customers to design smaller, lighter, safer and more economical systems than is possible with legacy low-rate batteries, directly addressing the needs of multiple high value markets: Ports & Logistics Modern ports experience ‘violent’ power swings from equipment such as ship-to-shore cranes, AGVs reach stackers and yard equipment. HyprC's systems are designed to: Enable rapid opportunity charging between shifts Maintain stable voltage under heavy lift loads Deliver a lower lifetime cost versus diesel and traditional batteries Support 24/7 operations while helping operators meet decarbonisation and air-quality targets For port operators, this combination offers the potential for reduced operating costs, increased asset utilisation and improved regulatory compliance, positioning HyprC as an enabling technology for the next generation of low-emission, high-throughput terminals. AI Data Centres AI infrastructure and GPU-intensive workloads are pushing conventional UPS systems and low-rate batteries to their limits. HyprC's high-C-rate battery platform is positioned as a disruptive alternative for data centres by: Reducing physical footprint: Higher C-rate and power density mean fewer batteries for the same or greater power Lowering total cost: Less hardware, racking and building volume help reduce capex and opex Cutting insurance costs: Fewer cells and safer thermal behaviour reduce perceived fire risk Improving safety: Lower heat generation and robust thermal design reduce fire load and incident probability Stabilising the grid and protecting IT: Instant response smooths GPU power spikes, providing clean, reliable power Enabling new revenue streams: Supporting peak shaving, frequency regulation, demand response and backup, turning storage into a revenue-generating strategic asset For AI data-centre operators and critical-infrastructure managers, HyprC offers a smaller, cheaper, safer and more profitable way to power next-generation compute and energy systems. Hybrid Nuclear Energy Systems HyprC's platform also supports small and micro modular reactor (SMR/MMR) based hybrid energy architectures. By combining Aegis's battery energy storage systems with cyber-secure energy management controls, the system is designed to enable resilient, next-generation nuclear-battery hybrid configurations. This creates a pathway into emerging nuclear-aligned markets where robust, intelligent energy storage and management are expected to be critical enablers of new SMR/MMR projects. Strategic Research Collaboration with McMaster University Aegis and HyprC are advancing a major research collaboration with McMaster University, to be led by Professor Saeid Habibi. The initiative is structured around applications to Canadian governmental granting agencies, with the planned project duration of four years. The research program focuses on areas of direct strategic importance to Aegis and HyprC's high-C-rate battery and critical-infrastructure platform, including: Development and validation of advanced testing methodologies for high-C-rate battery systems Performance characterisation under demanding, real-world operating conditions Intelligent control approaches for battery energy storage systems deployed in critical infrastructure, including ports, data centres, utility networks, defence-aligned applications and nuclear-aligned applications such as SMR/MMR-based hybrid energy systems This work is intended to: Strengthen the technical foundation underpinning the Company's product roadmap Support technology Aegis is developing in partnership with a major European automaker Enable deployable, mission-critical solutions that meet stringent reliability, safety and security requirements across both non-nuclear and nuclear pathways.

Announcement • Jun 04

NEO Battery Materials Ltd Launches High-Power And Energy FPV Strike Drone Battery

NEO Battery Materials Ltd. had announced the official launch of its high-power and energy battery products specifically engineered for First-Person View (FPV) strike drones or loitering munitions (LMs), demonstrating a 82% increase in energy density and doubling in flight range compared to Chinese incumbents. NEO's new high-performance battery products address the significant supply deficit in the global defense battery market, offering one of the first non-Chinese pouch battery alternatives for FPV strike drones. The Company's Drone Battery Platform offers a secure supply for defense drone/robotics applications and ensures compliance with the U.S. Fiscal year 2026 National Defense Authorization Act, supporting eligibility for direct procurement into the Department of War and allied military organizations. Both 6.5 and 11.5 Ah products are precision-engineered to deliver improved stability and flight time under the high-intensity discharge conditions required for one-way strike drones. At identical size and dimensions, NEO's 6.5 Ah packs delivered an 82% increase in energy density compared to a commercial Chinese pack, enhancing from 129 to 235 watt-hours per kilogram (Wh/kg) or raising capacity from 3.3 to 6.5 Ah. In a simulated 250 km/h strike mission, the optimization translated into a 102.9% increase in flight range from 24.4 km to 49.5 km, given the same amperage (current delivery). The higher-capacity 11.5 Ah variant demonstrated a stronger power profile and lower temperature rise compared to a leading silicon battery product. Based on a 10C or 6-minute discharge test, NEO's cell retained 78.8% of capacity compared to 48% for its benchmark. NEO developed the product lines to meet growing demand in Ukraine and the United States, where the transition toward a non-Chinese drone supply chain has become a procurement priority. The Company is in discussions across Ukraine, the U.S., South Korea, and Japan regarding the integration of these cells into active defense systems. Serving a dual-use purpose, the FPV strike drone battery portfolio will be further distributed to drones for precision agriculture, security/inspection, and industrial logistics. To accommodate non-military use, both products are expected to retain a cycle life of approximately 1,000 (dis) charging cycles. NEO will actively support allied governments in building strategic drone inventories. Countries including Poland, Estonia, the Czech Republic, India, and Singapore are incorporating large-scale stockpiling of FPV strike drones for their national preparedness strategies. By providing a reliable alternative to Chinese-dependent components, NEO positions itself to directly support international efforts to secure drone manufacturing and ensure national security concerns are addressed through supply chain resilience. The FPV drone battery product lines are undergoing UN 38.3, KC, and other relevant certifications to validate transport and usage safety. These qualifications will enable export readiness and support seamless commercial integration across international defense and industrial markets. NEO is advancing a portfolio of next-generation battery technologies, including customized, premium cells with energy densities in the 300-150 Wh/kg range for high-performance, bespoke drone and aerospace platforms. These programs position NEO to expand beyond the mass-market FPV segment into higher-value defense and aerospace applications, supporting a multi-tier growth strategy and long-term margin expansion. For this product launch and short-term strategy, however, the Company is prioritizing the mass-market segment, where competitive price points relative to Chinese products are required to enable higher-volume deployment of FPV strike drones and loitering munitions.

Canadian (TSX) Electrical Industry Analysis

Industry Valuation and Performance

Industry Trends

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Latest News

New major risk - Negative shareholders equity

BLDP: Recent Contract Wins Will Likely Fail To Justify Elevated Expectations

Investor sentiment improves as stock rises 18%

dynaCERT Inc. announced that it expects to receive CAD 5 million in funding

Hillcrest Energy Technologies Ltd. announced that it has received CAD 1.195248 million in funding

Aegis Critical Energy Defence Corp.'s HyprC Systems Inc. Announces the Launch of Its Next-Generation High-C-Rate Battery Platform

Hybrid Power Solutions Inc. announced that it has received CAD 1.697 million in funding

ELVA: Forklift Battery Strength And Jamestown Ramp Will Offset Airport Demand Risks

NEO Battery Materials Ltd Launches High-Power And Energy FPV Strike Drone Battery

Graphene Manufacturing Group Ltd Applies for Additional Environmental Approvals to Produce Graphene in USA

New minor risk - Share price stability

New minor risk - Share price stability

First quarter 2026 earnings released: EPS: CA$0.47 (vs CA$0.42 in 1Q 2025)

Executive Director exercised options to buy CA$315k worth of stock.