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Canadian (TSX) Transportation Industry Analysis

UpdatedApr 16, 2026
DataAggregated Company Financials
Companies5
  • 7D-0.06%
  • 3M9.9%
  • 1Y12.8%
  • YTD9.6%

The Transportation industry is up 3.4% in the last week, with Canadian National Railway up 1.3%. This means that the industry has gained 14% over the past year. Earnings are forecast to grow by 6.9% annually.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Thu, 16 Apr 2026CA$211.7bCA$45.3bCA$9.4b21.8x22.6x4.7x
Sat, 14 Mar 2026CA$199.0bCA$45.3bCA$9.4b21.4x21.2x4.4x
Mon, 09 Feb 2026CA$198.8bCA$45.5bCA$9.4b20.9x21.2x4.4x
Wed, 07 Jan 2026CA$188.5bCA$45.4bCA$9.4b20x20x4.1x
Fri, 05 Dec 2025CA$190.0bCA$45.6bCA$9.4b20.1x20.2x4.2x
Sun, 02 Nov 2025CA$185.3bCA$45.6bCA$9.4b19.6x19.6x4.1x
Tue, 30 Sep 2025CA$186.3bCA$45.6bCA$9.4b19x19.9x4.1x
Thu, 28 Aug 2025CA$192.8bCA$45.5bCA$9.3b19.8x20.6x4.2x
Sat, 26 Jul 2025CA$189.3bCA$45.7bCA$9.0b19.2x21x4.1x
Mon, 23 Jun 2025CA$202.0bCA$45.7bCA$9.0b19.4x22.5x4.4x
Wed, 21 May 2025CA$212.8bCA$45.9bCA$9.0b20.2x23.7x4.6x
Fri, 18 Apr 2025CA$190.4bCA$45.2bCA$8.9b17.4x21.5x4.2x
Sun, 16 Mar 2025CA$200.1bCA$45.6bCA$8.9b18.1x22.5x4.4x
Tue, 11 Feb 2025CA$210.7bCA$45.4bCA$9.0b22x23.5x4.6x
Thu, 09 Jan 2025CA$215.2bCA$45.5bCA$9.8b20.5x22x4.7x
Sat, 07 Dec 2024CA$215.9bCA$45.3bCA$9.8b22.4x22.1x4.8x
Mon, 04 Nov 2024CA$212.3bCA$45.2bCA$9.7b20.6x21.8x4.7x
Wed, 02 Oct 2024CA$224.6bCA$44.1bCA$9.7b21.2x23.2x5.1x
Fri, 30 Aug 2024CA$221.6bCA$44.0bCA$9.7b22.4x22.9x5x
Sun, 28 Jul 2024CA$226.0bCA$43.9bCA$10.1b22.8x22.4x5.1x
Tue, 25 Jun 2024CA$219.1bCA$42.8bCA$10.2b21.5x21.5x5.1x
Thu, 23 May 2024CA$229.9bCA$42.9bCA$10.2b23.1x22.5x5.4x
Sat, 20 Apr 2024CA$237.4bCA$41.8bCA$10.4b19.9x22.8x5.7x
Mon, 18 Mar 2024CA$243.5bCA$41.6bCA$10.4b19.8x23.4x5.9x
Wed, 14 Feb 2024CA$231.5bCA$41.6bCA$10.4b19.4x22.2x5.6x
Fri, 12 Jan 2024CA$221.9bCA$40.2bCA$10.0b21.5x22.3x5.5x
Sun, 10 Dec 2023CA$210.5bCA$40.4bCA$10.0b18.6x21.1x5.2x
Tue, 07 Nov 2023CA$207.5bCA$40.5bCA$10.0b18.3x20.8x5.1x
Thu, 05 Oct 2023CA$203.9bCA$40.5bCA$10.6b16.4x19.2x5x
Sat, 02 Sep 2023CA$220.2bCA$40.4bCA$10.6b18.5x20.8x5.5x
Mon, 31 Jul 2023CA$223.7bCA$40.9bCA$10.8b13.9x20.8x5.5x
Wed, 28 Jun 2023CA$217.3bCA$40.2bCA$10.4b12.5x21x5.4x
Fri, 26 May 2023CA$213.5bCA$40.6bCA$10.4b15.3x20.6x5.3x
Sun, 23 Apr 2023CA$229.0bCA$39.9bCA$9.9b17.1x23.2x5.7x
Price to Earnings Ratio

23.2x


Total Market Cap: CA$229.0bTotal Earnings: CA$9.9bTotal Revenue: CA$39.9bTotal 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 industry is trading close to its 3-year average PS ratio of 4.9x.
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 4.4% 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 Market1.73%
Industrials1.28%
Transportation-0.059%
Trucking5.88%
Cargo Ground Transportation0.67%
Railroads-0.12%
Industry PE
  • Investors are most optimistic about the Cargo Ground Transportation industry which is trading above its 3-year average PE ratio of 19.8x.
    • Analysts are expecting annual earnings growth of 18.3%, 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 18% 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$150.971.3%
+CA$1.2b		10.5%PE19.5x
TFII TFI InternationalCA$168.471.0%
+CA$132.3m		58.7%PE32.5x
ARGH ArgoCA$0.365.9%
+CA$5.5m		1.4%PS63.3x

Latest News

CNR
CA$150.97
Canadian National Railway
7D
1.3%
1Y
10.5%

CNR: Shareholder Returns And Infrastructure Stability Will Support Future Earnings Compounding

Analysts have inched their price target on Canadian National Railway lower by about CA$0.30 to CA$154.75, citing slightly more conservative assumptions for fair value, discount rate, revenue growth, profit margin, and future P/E. Analyst Commentary Bullish Takeaways Bullish analysts focus on Canadian National Railway's ability to support their fair value work with detailed assumptions on revenue, margin profile, and P/E.
MTL
CA$17.64
Mullen Group
7D
-1.7%
1Y
42.3%

MTL: Margin Execution And Buybacks Will Support Future Cash Flow Confidence

Analysts have increased their price target on Mullen Group by CA$0.75, citing higher assumed profit margins and a lower future P/E estimate as key elements in the latest research updates. Analyst Commentary Bullish Takeaways Bullish analysts see the higher assumed profit margins as support for a higher justified valuation, which feeds directly into the CA$0.75 and CA$2.50 target moves.
TFII
CA$168.47
TFI International
7D
1.0%
1Y
58.7%

TFII: Freight Cycle Recovery And U.S. LTL Margin Progress Will Drive Upside

Analysts have trimmed the TFI International fair value estimate slightly to CA$194.26 from CA$195.63, reflecting updated assumptions for discount rate, modestly higher revenue growth and margins, and a lower future P/E. Recent Street research highlights a mix of higher price targets and one reduced target following Q4 results and outlook commentary.
CP
CA$111.38
Canadian Pacific Kansas City
7D
-1.4%
1Y
10.1%
ARGH
CA$0.36
Argo
7D
5.9%
1Y
1.4%