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Canadian (TSX) Transportation Industry Analysis

UpdatedMar 28, 2026
DataAggregated Company Financials
Companies5
  • 7D2.6%
  • 3M5.2%
  • 1Y6.7%
  • YTD4.0%

All of the companies in the Transportation industry have been up over the last week, with the industry up 2.6%. This takes the industry's 12 month performance to a gain of 6.7%. Looking forward, earnings are forecast to grow by 6.7% annually.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Sat, 28 Mar 2026CA$197.8bCA$45.5bCA$9.4b20.9x21.1x4.4x
Mon, 23 Feb 2026CA$212.1bCA$45.3bCA$9.4b22.4x22.6x4.7x
Wed, 21 Jan 2026CA$191.5bCA$45.5bCA$9.4b19.2x20.3x4.2x
Fri, 19 Dec 2025CA$187.5bCA$45.4bCA$9.4b19.7x19.9x4.1x
Sun, 16 Nov 2025CA$183.4bCA$45.6bCA$9.4b19.5x19.4x4x
Tue, 14 Oct 2025CA$190.1bCA$45.7bCA$9.4b18.8x20.3x4.2x
Thu, 11 Sep 2025CA$187.6bCA$45.6bCA$9.4b19.2x20.1x4.1x
Sat, 09 Aug 2025CA$185.6bCA$45.5bCA$9.3b18.4x19.9x4.1x
Mon, 07 Jul 2025CA$204.9bCA$45.6bCA$9.0b20.2x22.8x4.5x
Wed, 04 Jun 2025CA$205.1bCA$45.7bCA$9.0b19.6x22.8x4.5x
Fri, 02 May 2025CA$187.6bCA$45.6bCA$8.9b18.1x21x4.1x
Sun, 30 Mar 2025CA$190.7bCA$45.6bCA$8.9b17.5x21.5x4.2x
Tue, 25 Feb 2025CA$208.1bCA$45.6bCA$8.9b19.2x23.4x4.6x
Thu, 23 Jan 2025CA$215.2bCA$45.5bCA$9.8b20.8x22x4.7x
Sat, 21 Dec 2024CA$205.1bCA$45.5bCA$9.8b20.9x21x4.5x
Mon, 18 Nov 2024CA$212.3bCA$45.3bCA$9.7b21.8x21.8x4.7x
Wed, 16 Oct 2024CA$222.8bCA$44.3bCA$9.7b21.6x23x5x
Fri, 13 Sep 2024CA$226.2bCA$44.1bCA$9.7b22.1x23.4x5.1x
Sun, 11 Aug 2024CA$213.6bCA$44.2bCA$9.7b21.6x22.1x4.8x
Tue, 09 Jul 2024CA$222.2bCA$42.8bCA$10.2b21.9x21.8x5.2x
Thu, 06 Jun 2024CA$224.5bCA$42.9bCA$10.2b21.7x22.1x5.2x
Sat, 04 May 2024CA$224.1bCA$42.9bCA$10.2b19.5x21.9x5.2x
Mon, 01 Apr 2024CA$245.1bCA$41.6bCA$10.4b20.3x23.6x5.9x
Wed, 28 Feb 2024CA$241.4bCA$41.6bCA$10.4b20.2x23.2x5.8x
Fri, 26 Jan 2024CA$221.9bCA$40.2bCA$10.7b19x20.8x5.5x
Sun, 24 Dec 2023CA$221.3bCA$40.1bCA$10.0b21.3x22.2x5.5x
Tue, 21 Nov 2023CA$208.7bCA$40.5bCA$10.0b18.4x20.9x5.2x
Thu, 19 Oct 2023CA$199.9bCA$40.4bCA$10.6b16x18.9x4.9x
Sat, 16 Sep 2023CA$213.5bCA$40.3bCA$10.6b17.5x20.2x5.3x
Mon, 14 Aug 2023CA$221.6bCA$40.3bCA$10.6b17.8x20.9x5.5x
Wed, 12 Jul 2023CA$211.7bCA$40.3bCA$10.4b12x20.4x5.3x
Fri, 09 Jun 2023CA$213.0bCA$40.4bCA$10.4b11.9x20.5x5.3x
Sun, 07 May 2023CA$222.7bCA$40.4bCA$10.3b15.8x21.5x5.5x
Tue, 04 Apr 2023CA$218.4bCA$39.8bCA$9.9b16.6x22.1x5.5x
Price to Earnings Ratio

22.1x


Total Market Cap: CA$218.4bTotal Earnings: CA$9.9bTotal Revenue: CA$39.8bTotal 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 4.4x.
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 4.5% 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 Market2.21%
Industrials0.19%
Transportation2.63%
Trucking7.94%
Cargo Ground Transportation6.69%
Railroads2.34%
Industry PE
  • Investors are most optimistic about the Cargo Ground Transportation industry which is trading above its 3-year average PE ratio of 19.5x.
    • Analysts are expecting annual earnings growth of 16.8%, which is higher than its past year's earnings decline of 22.7% per year.
Forecasted Growth
  • Analysts are most optimistic on the Cargo Ground Transportation industry, expecting annual earnings growth of 17% over the next 5 years.
  • This is better than its past earnings decline of 23% per year.
  • In contrast, the Railroads industry is expected to see its earnings grow by 6.0% 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
CNR Canadian National RailwayCA$140.824.0%
+CA$3.2b		0.9%PE18.2x
CP Canadian Pacific Kansas CityCA$108.641.0%
+CA$862.7m		9.3%PE23.5x
TFII TFI InternationalCA$145.467.1%
+CA$797.0m		32.0%PE27.7x
MTL Mullen GroupCA$16.753.7%
+CA$57.5m		32.1%PE17.6x
ARGH ArgoCA$0.347.9%
+CA$6.8m		41.7%PS59.4x

Latest News

ARGH
CA$0.34
Argo
7D
7.9%
1Y
41.7%
CNR
CA$140.82
Canadian National Railway
7D
4.0%
1Y
0.9%
MTL
CA$16.75
Mullen Group
7D
3.7%
1Y
32.1%

MTL: Dividend Track Record And Buybacks Will Support Higher Cash Flow Confidence

Narrative Update Analysts have lifted their price targets on Mullen Group by CA$2.00 to a range of CA$17.00 to CA$19.50 at the high end, citing updated views that feed into a slightly lower discount rate and a small adjustment to the forward P/E used in their models. Analyst Commentary Recent research points to a slightly more constructive tone on Mullen Group, with price targets now clustered in the CA$17.00 to CA$19.50 range.
TFII
CA$145.46
TFI International
7D
7.1%
1Y
32.0%

TFII: Freight Recovery Uncertainty And Soft Volumes Will Limit Near Term Upside

Analysts have adjusted their fair value estimate for TFI International to CA$119.05 from CA$122.72, as higher price targets are balanced against updated assumptions for discount rate, revenue growth, profit margins, and future P/E, informed by recent research pointing to cautious Q1 guidance but potential benefits from freight cycle recovery and less than truckload improvements. Analyst Commentary Recent research on TFI International points to a mixed tone.
CP
CA$108.64
Canadian Pacific Kansas City
7D
1.0%
1Y
9.3%