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Canadian (TSX) Transportation Industry Analysis

UpdatedJan 31, 2026
DataAggregated Company Financials
Companies5
  • 7D-1.4%
  • 3M-0.06%
  • 1Y-13.6%
  • YTD-2.7%

The Transportation industry has been flat over the last week, but Canadian National Railway has lost 4.2%. As for the longer term, the industry has declined 12% in the last year. Earnings are forecast to grow by 7.8% annually.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Sat, 31 Jan 2026CA$189.4bCA$45.3bCA$9.3b19.7x20.4x4.2x
Mon, 29 Dec 2025CA$188.3bCA$45.3bCA$9.4b19.8x20x4.2x
Wed, 26 Nov 2025CA$182.6bCA$45.7bCA$9.4b19.4x19.3x4x
Fri, 24 Oct 2025CA$194.3bCA$45.7bCA$9.4b19.2x20.8x4.2x
Sun, 21 Sep 2025CA$188.1bCA$45.5bCA$9.4b19.3x20.1x4.1x
Tue, 19 Aug 2025CA$186.3bCA$45.5bCA$9.3b19.1x19.9x4.1x
Thu, 17 Jul 2025CA$203.9bCA$45.7bCA$9.0b19.6x22.7x4.5x
Sat, 14 Jun 2025CA$204.6bCA$45.6bCA$9.0b19.6x22.8x4.5x
Mon, 12 May 2025CA$193.8bCA$45.9bCA$9.0b18.7x21.6x4.2x
Wed, 09 Apr 2025CA$186.2bCA$45.5bCA$8.9b16.7x21x4.1x
Fri, 07 Mar 2025CA$204.2bCA$45.6bCA$8.9b18.7x23x4.5x
Sun, 02 Feb 2025CA$220.7bCA$45.6bCA$9.0b22.6x24.6x4.8x
Tue, 31 Dec 2024CA$208.2bCA$45.5bCA$9.8b20.5x21.3x4.6x
Thu, 28 Nov 2024CA$213.8bCA$45.2bCA$9.7b22.3x22x4.7x
Sat, 26 Oct 2024CA$215.2bCA$45.1bCA$9.7b21x22.1x4.8x
Mon, 23 Sep 2024CA$226.7bCA$44.1bCA$9.7b22.1x23.4x5.1x
Wed, 21 Aug 2024CA$217.3bCA$44.2bCA$9.7b22x22.4x4.9x
Fri, 19 Jul 2024CA$232.8bCA$42.9bCA$10.2b22.9x22.9x5.4x
Sun, 16 Jun 2024CA$221.8bCA$42.9bCA$10.2b21.6x21.8x5.2x
Tue, 14 May 2024CA$231.8bCA$42.9bCA$10.2b24x22.7x5.4x
Thu, 11 Apr 2024CA$246.7bCA$41.7bCA$10.4b20.4x23.7x5.9x
Sat, 09 Mar 2024CA$242.5bCA$41.6bCA$10.4b19.8x23.3x5.8x
Mon, 05 Feb 2024CA$230.2bCA$41.5bCA$10.4b19.4x22.1x5.5x
Wed, 03 Jan 2024CA$222.5bCA$40.2bCA$10.0b21.5x22.3x5.5x
Fri, 01 Dec 2023CA$205.9bCA$40.4bCA$10.0b19.2x20.6x5.1x
Sun, 29 Oct 2023CA$197.6bCA$40.6bCA$10.0b17.5x19.8x4.9x
Tue, 26 Sep 2023CA$210.9bCA$40.2bCA$10.6b17.7x19.9x5.2x
Thu, 24 Aug 2023CA$216.5bCA$40.3bCA$10.6b17.4x20.5x5.4x
Sat, 22 Jul 2023CA$216.2bCA$40.2bCA$10.4b13.3x20.9x5.4x
Mon, 19 Jun 2023CA$214.4bCA$40.2bCA$10.4b11.7x20.7x5.3x
Wed, 17 May 2023CA$225.4bCA$40.5bCA$10.3b15.8x21.8x5.6x
Fri, 14 Apr 2023CA$219.5bCA$39.7bCA$9.9b16.7x22.3x5.5x
Sun, 12 Mar 2023CA$216.9bCA$40.2bCA$9.9b16.8x21.9x5.4x
Tue, 07 Feb 2023CA$219.0bCA$40.0bCA$9.7b17.4x22.6x5.5x
Price to Earnings Ratio

22.6x


Total Market Cap: CA$219.0bTotal Earnings: CA$9.7bTotal Revenue: CA$40.0bTotal Market Cap vs Earnings and Revenue0%0%0%
Canadian Transportation Industry Price to Earnings3Y Average 21.6x202420252026
Current Industry PE
  • Investors are relatively neutral on the Canadian Transportation 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 PE ratio of 21.6x.
  • The 3-year average PS ratio of 4.9x is higher than the industry's current PS ratio of 4.1x.
Past Earnings Growth
  • The earnings for companies in the Transportation industry have remained mostly flat over the last three years.
  • Meanwhile revenues for these companies have grown 4.2% per year.
  • This means that although more sales are being generated, either the cost of doing business or the level of investment back into businesses has increased and as a result, profits have held steady.

Industry Trends

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

CA Market-3.80%
Industrials-3.19%
Transportation-1.43%
Railroads-1.34%
Cargo Ground Transportation-2.46%
Trucking-5.13%
Industry PE
  • Investors are most optimistic about the Cargo Ground Transportation industry which is trading above its 3-year average PE ratio of 19.0x.
    • Analysts are expecting annual earnings growth of 16.0%, which is higher than its past year's earnings decline of 26.1% per year.
Forecasted Growth
  • Analysts are most optimistic on the Cargo Ground Transportation industry, expecting annual earnings growth of 16% over the next 5 years.
  • This is better than its past earnings decline of 26% per year.
  • In contrast, the Railroads industry is expected to see its earnings grow by 7.1% 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
CP Canadian Pacific Kansas CityCA$101.221.5%
+CA$979.1m		-12.4%PE21.9x

Latest News

CP
CA$101.22
Canadian Pacific Kansas City
7D
1.5%
1Y
-12.4%
CNR
CA$130.99
Canadian National Railway
7D
-4.2%
1Y
-13.7%
MTL
CA$16.08
Mullen Group
7D
-4.1%
1Y
7.9%

MTL: Higher P/E Expectations May Support Upside As Fair Value Rises

Narrative Update Analysts have lifted their implied fair value estimate for Mullen Group from C$17.40 to C$18.58, reflecting recent price target changes and updated assumptions around revenue, profit margins and future P/E expectations. Analyst Commentary Recent research updates show analysts adjusting their price targets higher for Mullen Group, which feeds directly into the latest implied fair value estimate.
TFII
CA$146.33
TFI International
7D
-2.2%
1Y
-23.6%

TFII: Freight Softness And Q4 Guidance Reset Will Likely Cap Near-Term Upside

Analysts have lifted their price targets on TFI International, and our fair value estimate now sits at about US$122.72. This reflects updated views on freight capacity tightening, regulatory-driven supply exits and the potential for improved margins into 2026.
ARGH
CA$0.37
Argo
7D
-5.1%
1Y
184.6%