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Canadian (TSX) Electrical Industry Analysis

UpdatedDec 18, 2025
DataAggregated Company Financials
Companies14
  • 7D-4.7%
  • 3M16.7%
  • 1Y46.0%
  • YTD31.5%

Over the last 7 days, the Electrical industry has remained flat, although notably Electrovaya gained 22%. As for the the longer term, the industry is up 47% over the past 12 months. Looking forward, earnings are forecast to grow by 22% annually.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Thu, 18 Dec 2025CA$4.2bCA$1.3b-CA$121,662,121.8424.2x-34.5x3.1x
Sat, 15 Nov 2025CA$4.2bCA$1.3b-CA$363,802,700.9624.3x-11.7x3.3x
Mon, 13 Oct 2025CA$3.8bCA$1.3b-CA$367,027,636.5719.1x-10.4x3x
Wed, 10 Sep 2025CA$3.1bCA$1.3b-CA$361,259,119.9718.3x-8.6x2.4x
Fri, 08 Aug 2025CA$3.1bCA$1.3b-CA$387,217,451.3313x-8x2.5x
Sun, 06 Jul 2025CA$2.9bCA$1.2b-CA$365,828,026.1411.6x-8x2.4x
Tue, 03 Jun 2025CA$2.4bCA$1.2b-CA$354,747,376.399.5x-6.6x1.9x
Thu, 01 May 2025CA$2.3bCA$1.2b-CA$715,169,864.6010.3x-3.2x1.9x
Sat, 29 Mar 2025CA$2.2bCA$1.2b-CA$728,328,408.069.3x-3x1.8x
Mon, 24 Feb 2025CA$2.4bCA$1.2b-CA$729,872,990.365.9x-3.2x1.9x
Wed, 22 Jan 2025CA$2.9bCA$1.2b-CA$727,537,268.455.8x-4x2.3x
Fri, 20 Dec 2024CA$2.8bCA$1.2b-CA$720,617,256.376.3x-3.9x2.3x
Sun, 17 Nov 2024CA$2.7bCA$1.2b-CA$724,584,083.4422.2x-3.7x2.2x
Tue, 15 Oct 2024CA$3.2bCA$1.2b-CA$276,009,962.3227.2x-11.5x2.6x
Thu, 12 Sep 2024CA$2.8bCA$1.2b-CA$273,480,543.4821.4x-10.2x2.3x
Sat, 10 Aug 2024CA$3.0bCA$1.2b-CA$292,550,748.0420.6x-10.1x2.4x
Mon, 08 Jul 2024CA$3.0bCA$1.2b-CA$286,582,237.9721.7x-10.3x2.5x
Wed, 05 Jun 2024CA$3.4bCA$1.2b-CA$289,085,716.0723.1x-11.7x2.8x
Fri, 03 May 2024CA$3.1bCA$1.2b-CA$263,736,582.1322.7x-11.8x2.6x
Sun, 31 Mar 2024CA$3.6bCA$1.2b-CA$250,580,519.1627.2x-14.3x3.1x
Tue, 27 Feb 2024CA$3.3bCA$1.1b-CA$278,656,449.8621.7x-11.8x3x
Thu, 25 Jan 2024CA$3.2bCA$1.1b-CA$285,543,144.0017.5x-11.4x2.9x
Sat, 23 Dec 2023CA$3.1bCA$1.1b-CA$291,482,988.0014.9x-10.8x2.8x
Mon, 20 Nov 2023CA$3.2bCA$1.1b-CA$306,850,829.0015.2x-10.6x2.9x
Wed, 18 Oct 2023CA$3.2bCA$1.1b-CA$285,754,479.0011.8x-11.1x2.9x
Fri, 15 Sep 2023CA$3.2bCA$1.1b-CA$279,650,033.0010.3x-11.6x3x
Sun, 13 Aug 2023CA$3.5bCA$1.1b-CA$269,199,854.0011.7x-13x3.3x
Tue, 11 Jul 2023CA$3.2bCA$1.0b-CA$298,385,642.0011.4x-10.7x3.1x
Thu, 08 Jun 2023CA$3.2bCA$1.0b-CA$300,423,086.0010.8x-10.5x3.1x
Sat, 06 May 2023CA$3.4bCA$1.0b-CA$325,751,197.0010.3x-10.3x3.2x
Mon, 03 Apr 2023CA$3.7bCA$990.4m-CA$344,624,777.0010.1x-10.8x3.8x
Wed, 01 Mar 2023CA$3.6bCA$982.1m-CA$366,462,653.009.1x-9.9x3.7x
Fri, 27 Jan 2023CA$3.6bCA$938.8m-CA$341,016,023.007.3x-10.5x3.8x
Sun, 25 Dec 2022CA$2.8bCA$941.5m-CA$342,578,055.006.9x-8.2x3x
Price to Earnings Ratio

-8.2x


Total Market Cap: CA$2.8bTotal Earnings: -CA$342,578,055.00Total Revenue: CA$941.5mTotal Market Cap vs Earnings and Revenue0%0%0%
Canadian Electrical Industry Price to Earnings3Y Average -10x202320242025
Current Industry PE
  • 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 3.2x.
Past Earnings Growth
  • The earnings for companies in the Electrical industry have improved over the last three years.
  • Revenues for these companies have grown 12% 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 Market-1.04%
Industrials-0.91%
Electrical-4.67%
Heavy Electrical Equipment0%0
Electrical Components-4.67%
Industry PE
    Forecasted Growth
    • Analysts are most optimistic on the Electrical Components industry, expecting annual earnings growth of 22% over the next 5 years.
    • This is better than its past earnings growth rate of 6.0% per year.
    • In contrast, the Electrical Components industry is expected to see its earnings grow by 22% 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
    		ELVA ElectrovayaCA$8.7217.2%
    +CA$61.3m    		175.1%PE90.1x
    		GMG Graphene Manufacturing GroupCA$1.7433.8%
    +CA$51.9m    		159.7%PS847.7x
    		SPRQ SPARQ SystemsCA$0.702.9%
    +CA$2.3m    		-9.1%PS32.5x
    		HEAT Hillcrest Energy TechnologiesCA$0.1313.6%
    +CA$2.0m    		-24.2%PE-2.2x
    		GRD Grounded LithiumCA$0.0740.0%
    +CA$1.6m    		55.6%PS44.9x

    Latest News

    ELVA
    CA$8.72
    Electrovaya
    7D
    17.2%
    1Y
    175.1%

    ELVA: Equity Raise And Japan Expansion Will Shape Balanced Return Outlook

    Analysts have raised their price target on Electrovaya from approximately $6.01 to $9.49 per share, citing a richer expected valuation multiple and slightly stronger long term profitability, despite moderating top line growth assumptions. What's in the News Electrovaya Inc.
    GMG
    CA$1.74
    Graphene Manufacturing Group
    7D
    33.8%
    1Y
    159.7%
    EMM
    CA$0.09
    Giyani Metals
    7D
    -5.3%
    1Y
    20.0%
    DYA
    CA$0.085
    dynaCERT
    7D
    -5.6%
    1Y
    -50.0%
    HPS.A
    CA$164.00
    Hammond Power Solutions
    7D
    -9.1%
    1Y
    34.8%

    HPS.A: Future Margin Durability Will Underpin Further Upside Momentum

    Analysts have lifted their price target for Hammond Power Solutions to about C$211 from C$154, reflecting increased confidence in the company’s growth trajectory and margin durability, despite a slightly higher discount rate assumption. Analyst Commentary Bullish analysts point to the higher price targets as evidence that the market is still catching up to Hammond Power Solutions’ accelerating growth and improving profitability profile.
    BLDP
    CA$3.49
    Ballard Power Systems
    7D
    -9.4%
    1Y
    58.6%

    BLDP: Weak Order Backlog Will Likely Offset Margin Improvements Ahead

    Analysts have lifted their price target on Ballard Power Systems to a range of approximately $2.50 to $3.40 from prior levels near $1 to $2 per share, citing stronger than expected Q3 revenue and gross margins, improving 2026 margin prospects, and a more supportive clean tech cycle, even as they await clearer visibility on long term growth and order momentum. Analyst Commentary Research coverage on Ballard Power Systems has shifted toward a more constructive stance, with several firms lifting their price targets while largely maintaining cautious ratings.
    SUN
    CA$0.085
    Stardust Solar Energy
    7D
    -15.0%
    1Y
    -39.3%
    SPRQ
    CA$0.70
    SPARQ Systems
    7D
    2.9%
    1Y
    -9.1%
    HEAT
    CA$0.13
    Hillcrest Energy Technologies
    7D
    13.6%
    1Y
    -24.2%
    HMM.A
    CA$11.23
    Hammond Manufacturing
    7D
    -2.5%
    1Y
    6.6%
    GRD
    CA$0.07
    Grounded Lithium
    7D
    40.0%
    1Y
    55.6%
    NBM
    CA$0.49
    NEO Battery Materials
    7D
    -3.9%
    1Y
    -21.0%
    SWAN
    CA$0.94
    Black Swan Graphene
    7D
    -4.1%
    1Y
    38.2%

    We're Hopeful That Black Swan Graphene (CVE:SWAN) Will Use Its Cash Wisely

    Oct 27
    We're Hopeful That Black Swan Graphene (CVE:SWAN) Will Use Its Cash Wisely
    NHHH
    CA$0.068
    FuelPositive
    7D
    3.8%
    1Y
    125.0%