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Canadian (TSX) Transportation Industry Analysis

UpdatedJan 25, 2026
DataAggregated Company Financials
Companies5
  • 7D-1.6%
  • 3M0.4%
  • 1Y-12.0%
  • YTD-1.3%

Over the last 7 days, the Transportation industry has dropped 1.6%, driven by a pullback from Canadian National Railway of 1.8%. Overall the industry is down 12% in 12 months. Looking forward, earnings are forecast to grow by 7.2% annually.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Mon, 26 Jan 2026CA$188.1bCA$45.4bCA$9.4b19.7x20x4.1x
Wed, 24 Dec 2025CA$188.9bCA$45.3bCA$9.4b19.8x20.1x4.2x
Fri, 21 Nov 2025CA$179.5bCA$45.7bCA$9.4b18.8x19x3.9x
Sun, 19 Oct 2025CA$194.4bCA$45.7bCA$9.4b19.8x20.8x4.3x
Tue, 16 Sep 2025CA$188.2bCA$45.5bCA$9.4b19.6x20.1x4.1x
Thu, 14 Aug 2025CA$186.9bCA$45.5bCA$9.3b19.3x20x4.1x
Sat, 12 Jul 2025CA$205.9bCA$45.6bCA$9.0b20.2x22.9x4.5x
Mon, 09 Jun 2025CA$206.1bCA$45.7bCA$9.0b19.6x23x4.5x
Wed, 07 May 2025CA$191.2bCA$45.7bCA$9.0b18.2x21.3x4.2x
Fri, 04 Apr 2025CA$197.9bCA$45.4bCA$8.9b17.3x22.3x4.4x
Sun, 02 Mar 2025CA$209.5bCA$45.7bCA$8.9b19.4x23.6x4.6x
Tue, 28 Jan 2025CA$219.8bCA$45.5bCA$9.8b21.5x22.5x4.8x
Thu, 26 Dec 2024CA$210.2bCA$45.5bCA$9.8b21.3x21.5x4.6x
Sat, 23 Nov 2024CA$212.9bCA$45.2bCA$9.7b22.4x21.9x4.7x
Mon, 21 Oct 2024CA$219.3bCA$44.3bCA$9.7b21.3x22.6x5x
Wed, 18 Sep 2024CA$231.8bCA$44.1bCA$9.7b22.5x23.9x5.3x
Fri, 16 Aug 2024CA$214.1bCA$44.2bCA$9.7b22.1x22.1x4.8x
Sun, 14 Jul 2024CA$228.1bCA$42.8bCA$10.2b22.4x22.4x5.3x
Tue, 11 Jun 2024CA$225.0bCA$42.9bCA$10.2b22.3x22.1x5.2x
Thu, 09 May 2024CA$230.2bCA$42.9bCA$10.2b20x22.5x5.4x
Sat, 06 Apr 2024CA$241.3bCA$41.6bCA$10.4b20.1x23.2x5.8x
Mon, 04 Mar 2024CA$240.6bCA$41.6bCA$10.4b20.1x23.2x5.8x
Wed, 31 Jan 2024CA$222.9bCA$40.2bCA$10.7b19.1x20.9x5.5x
Fri, 29 Dec 2023CA$222.2bCA$40.1bCA$10.0b21.7x22.3x5.5x
Sun, 26 Nov 2023CA$207.9bCA$40.4bCA$10.0b18.9x20.8x5.1x
Tue, 24 Oct 2023CA$199.2bCA$40.4bCA$10.6b15.7x18.8x4.9x
Thu, 21 Sep 2023CA$214.5bCA$40.3bCA$10.6b17.6x20.3x5.3x
Sat, 19 Aug 2023CA$216.1bCA$40.3bCA$10.6b17.5x20.4x5.4x
Mon, 17 Jul 2023CA$216.1bCA$40.3bCA$10.4b11.9x20.8x5.4x
Wed, 14 Jun 2023CA$210.9bCA$40.3bCA$10.4b11.5x20.3x5.2x
Fri, 12 May 2023CA$223.3bCA$40.5bCA$10.3b15.8x21.6x5.5x
Sun, 09 Apr 2023CA$216.4bCA$39.9bCA$9.9b16.3x21.9x5.4x
Tue, 07 Mar 2023CA$222.0bCA$40.0bCA$9.9b17.1x22.5x5.6x
Thu, 02 Feb 2023CA$217.8bCA$40.4bCA$9.7b13.9x22.4x5.4x
Price to Earnings Ratio

22.4x


Total Market Cap: CA$217.8bTotal Earnings: CA$9.7bTotal Revenue: CA$40.4bTotal Market Cap vs Earnings and Revenue0%0%0%
Canadian Transportation Industry Price to Earnings3Y Average 21.7x202420252026
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 21.7x.
  • The 3-year average PS ratio of 5.0x 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 4.3% 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 Market1.21%
Industrials-1.11%
Transportation-1.59%
Trucking5.41%
Railroads-1.47%
Cargo Ground Transportation-3.07%
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 6.5% 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
MTL Mullen GroupCA$16.770.6%
+CA$9.6m		12.3%PE16.8x
ARGH ArgoCA$0.395.4%
+CA$4.0m		200.0%PS50.4x

Latest News

TFII
CA$149.68
TFI International
7D
-3.5%
1Y
-23.0%

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.
MTL
CA$16.77
Mullen Group
7D
0.6%
1Y
12.3%
CNR
CA$136.78
Canadian National Railway
7D
-1.8%
1Y
-9.7%

CNR: Share Repurchases Will Support Earnings Compounding And Future Upside Potential

Analysts have nudged their fair value estimate for Canadian National Railway slightly higher to $154.95 from $154.85, reflecting updated views on revenue growth, profit margins and future P/E assumptions. What's in the News From July 1, 2025 to September 30, 2025, Canadian National Railway repurchased 7,700,000 shares for CAD 1,041m, representing 1.23% of its shares.
CP
CA$99.77
Canadian Pacific Kansas City
7D
-1.2%
1Y
-12.9%
ARGH
CA$0.39
Argo
7D
5.4%
1Y
200.0%