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Canadian (TSX) Transportation Industry Analysis

UpdatedJan 18, 2026
DataAggregated Company Financials
Companies5
  • 7D1.2%
  • 3M-0.2%
  • 1Y-7.0%
  • YTD0.2%

The Transportation industry is up 1.2% in the last week, with Canadian Pacific Kansas City up 1.4%. During this same period, the Argo underperformed, falling 7.5%. In the past year, the industry is down 7.0%. As for the next few years, earnings are expected to grow by 7.2% per annum.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Sun, 18 Jan 2026CA$191.1bCA$45.5bCA$9.4b19.9x20.3x4.2x
Tue, 16 Dec 2025CA$189.1bCA$45.4bCA$9.4b19.8x20.1x4.2x
Thu, 13 Nov 2025CA$184.0bCA$45.6bCA$9.4b19.9x19.5x4x
Sat, 11 Oct 2025CA$192.9bCA$45.7bCA$9.4b18.8x20.6x4.2x
Mon, 08 Sep 2025CA$193.3bCA$45.6bCA$9.4b20x20.7x4.2x
Wed, 06 Aug 2025CA$183.2bCA$45.5bCA$9.3b18.9x19.6x4x
Fri, 04 Jul 2025CA$206.5bCA$45.6bCA$9.0b20.3x23x4.5x
Sun, 01 Jun 2025CA$206.1bCA$45.7bCA$9.0b19.4x22.9x4.5x
Tue, 29 Apr 2025CA$188.8bCA$45.3bCA$8.8b18.1x21.4x4.2x
Thu, 27 Mar 2025CA$195.8bCA$45.6bCA$8.9b18.5x22x4.3x
Sat, 22 Feb 2025CA$208.1bCA$45.5bCA$8.9b19.9x23.4x4.6x
Mon, 20 Jan 2025CA$211.2bCA$45.6bCA$9.8b20.6x21.6x4.6x
Wed, 18 Dec 2024CA$210.5bCA$45.5bCA$9.8b22x21.5x4.6x
Fri, 15 Nov 2024CA$216.4bCA$45.3bCA$9.7b22.1x22.2x4.8x
Sun, 13 Oct 2024CA$223.3bCA$44.3bCA$9.7b21.6x23.1x5x
Tue, 10 Sep 2024CA$224.6bCA$44.1bCA$9.7b21.6x23.2x5.1x
Thu, 08 Aug 2024CA$215.2bCA$44.3bCA$9.7b21.6x22.2x4.9x
Sat, 06 Jul 2024CA$224.4bCA$42.8bCA$10.2b22.1x22.1x5.2x
Mon, 03 Jun 2024CA$228.1bCA$42.8bCA$10.2b23x22.4x5.3x
Wed, 01 May 2024CA$223.4bCA$42.9bCA$10.2b19.3x21.9x5.2x
Fri, 29 Mar 2024CA$245.9bCA$41.6bCA$10.4b20.3x23.7x5.9x
Sun, 25 Feb 2024CA$241.1bCA$41.6bCA$10.4b20.2x23.2x5.8x
Tue, 23 Jan 2024CA$223.2bCA$40.3bCA$10.0b21.5x22.4x5.5x
Thu, 21 Dec 2023CA$217.4bCA$40.2bCA$10.0b19.4x21.8x5.4x
Sat, 18 Nov 2023CA$208.5bCA$40.5bCA$10.0b18.3x20.9x5.1x
Mon, 16 Oct 2023CA$202.8bCA$40.4bCA$10.6b16.3x19.1x5x
Wed, 13 Sep 2023CA$211.7bCA$40.3bCA$10.6b17.6x20x5.3x
Fri, 11 Aug 2023CA$221.0bCA$40.3bCA$10.6b17.6x20.9x5.5x
Sun, 09 Jul 2023CA$212.6bCA$40.3bCA$10.4b12.2x20.5x5.3x
Tue, 06 Jun 2023CA$217.8bCA$40.4bCA$10.4b12.1x21x5.4x
Thu, 04 May 2023CA$220.6bCA$40.6bCA$10.4b15.7x21.3x5.4x
Sat, 01 Apr 2023CA$218.7bCA$39.9bCA$9.9b16.7x22.1x5.5x
Mon, 27 Feb 2023CA$217.0bCA$40.0bCA$9.9b16.7x22x5.4x
Wed, 25 Jan 2023CA$225.9bCA$39.2bCA$8.7b13.2x25.8x5.8x
Price to Earnings Ratio

25.8x


Total Market Cap: CA$225.9bTotal Earnings: CA$8.7bTotal Revenue: CA$39.2bTotal 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 4.2x.
Past Earnings Growth
  • The earnings for companies in the Transportation industry have grown 2.5% per year over the last three years.
  • Revenues for these companies have grown 5.1% per year.
  • This means that more sales are being generated by these companies overall, and subsequently their profits are increasing too.

Industry Trends

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

CA Market1.66%
Industrials1.23%
Transportation1.22%
Railroads1.27%
Cargo Ground Transportation0.61%
Trucking-7.50%
Industry PE
  • Investors are most optimistic about the Cargo Ground Transportation industry which is trading above its 3-year average PE ratio of 18.9x.
    • 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
CP Canadian Pacific Kansas CityCA$100.941.4%
+CA$1.2b		-6.8%PE21.3x
CNR Canadian National RailwayCA$139.281.2%
+CA$978.6m		-5.2%PE18.6x
TFII TFI InternationalCA$155.150.4%
+CA$55.1m		-20.1%PE28.1x
MTL Mullen GroupCA$16.672.1%
+CA$32.5m		11.1%PE16.7x

Latest News

MTL
CA$16.67
Mullen Group
7D
2.1%
1Y
11.1%

MTL: Future Acquisitions And Higher P/E Expectations May Shape Balanced Outlook

Analysts have raised their price targets on Mullen Group, and our fair value estimate has increased from C$16.50 to C$17.40, supported by recent target increases from several firms and updated assumptions on the discount rate and future P/E multiples. Analyst Commentary Bullish Takeaways Bullish analysts have lifted price targets into a C$17 to C$20 range, which lines up with a view that the shares can support a higher valuation multiple than previously assumed.
CNR
CA$139.28
Canadian National Railway
7D
1.2%
1Y
-5.2%

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.
TFII
CA$155.15
TFI International
7D
0.4%
1Y
-20.1%

TFII: Freight Cycle Recovery And Capital Returns Will Balance Near Term Softness

Analysts have lifted their implied fair value estimate for TFI International by about $2.74 to roughly $146.89 per share. This reflects updated assumptions for slightly faster revenue growth, a somewhat lower discount rate and a modestly higher future P/E multiple, in line with a series of recent price target increases across the Street.
CP
CA$100.94
Canadian Pacific Kansas City
7D
1.4%
1Y
-6.8%
ARGH
CA$0.37
Argo
7D
-7.5%
1Y
236.4%