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Canadian (TSX) Transportation Industry Analysis

UpdatedApr 22, 2026
DataAggregated Company Financials
Companies5
  • 7D-0.6%
  • 3M12.1%
  • 1Y15.0%
  • YTD10.9%

Over the last 7 days, the Transportation industry has remained flat, although notably TFI International gained 7.3%. As for the the longer term, the industry is up 15% over the past 12 months. Earnings are forecast to grow by 7.0% annually.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Wed, 22 Apr 2026CA$209.9bCA$45.3bCA$9.4b22x22.4x4.6x
Fri, 20 Mar 2026CA$195.8bCA$45.3bCA$9.4b20.5x20.9x4.3x
Sun, 15 Feb 2026CA$207.1bCA$45.5bCA$9.4b21.9x22.1x4.6x
Tue, 13 Jan 2026CA$188.5bCA$45.5bCA$9.4b19.6x20x4.1x
Thu, 11 Dec 2025CA$187.2bCA$45.4bCA$9.4b19.9x19.9x4.1x
Sat, 08 Nov 2025CA$180.9bCA$45.6bCA$9.4b19.4x19.2x4x
Mon, 06 Oct 2025CA$195.1bCA$45.7bCA$9.4b19.5x20.8x4.3x
Wed, 03 Sep 2025CA$191.1bCA$45.5bCA$9.3b19.8x20.5x4.2x
Fri, 01 Aug 2025CA$188.9bCA$45.6bCA$9.3b18.7x20.2x4.1x
Sun, 29 Jun 2025CA$200.6bCA$45.7bCA$9.0b19.7x22.3x4.4x
Tue, 27 May 2025CA$204.1bCA$45.7bCA$9.0b19.6x22.7x4.5x
Thu, 24 Apr 2025CA$189.1bCA$45.3bCA$8.9b17.4x21.3x4.2x
Sat, 22 Mar 2025CA$197.3bCA$45.6bCA$8.9b17.9x22.2x4.3x
Mon, 17 Feb 2025CA$209.6bCA$45.3bCA$8.9b21.8x23.4x4.6x
Wed, 15 Jan 2025CA$207.7bCA$45.5bCA$9.8b20.5x21.3x4.6x
Fri, 13 Dec 2024CA$212.6bCA$45.4bCA$9.8b22.4x21.8x4.7x
Sun, 10 Nov 2024CA$216.3bCA$45.1bCA$9.7b22x22.2x4.8x
Tue, 08 Oct 2024CA$218.2bCA$44.2bCA$9.7b20.8x22.5x4.9x
Thu, 05 Sep 2024CA$224.1bCA$44.1bCA$9.7b22.3x23.2x5.1x
Sat, 03 Aug 2024CA$222.1bCA$44.3bCA$9.7b22.1x22.9x5x
Mon, 01 Jul 2024CA$221.1bCA$42.9bCA$10.2b21.9x21.7x5.2x
Wed, 29 May 2024CA$229.8bCA$42.8bCA$10.2b23.2x22.5x5.4x
Fri, 26 Apr 2024CA$230.5bCA$42.8bCA$10.2b19.7x22.5x5.4x
Sun, 24 Mar 2024CA$247.9bCA$41.6bCA$10.4b20.4x23.9x6x
Tue, 20 Feb 2024CA$237.5bCA$41.6bCA$10.4b19.9x22.9x5.7x
Thu, 18 Jan 2024CA$218.7bCA$40.3bCA$10.0b21x21.9x5.4x
Sat, 16 Dec 2023CA$215.3bCA$40.2bCA$10.0b19.1x21.6x5.4x
Mon, 13 Nov 2023CA$205.1bCA$40.5bCA$10.0b18.1x20.5x5.1x
Wed, 11 Oct 2023CA$204.9bCA$40.3bCA$10.6b17.2x19.3x5.1x
Fri, 08 Sep 2023CA$212.2bCA$40.4bCA$10.6b18x20x5.2x
Sun, 06 Aug 2023CA$220.3bCA$40.2bCA$10.6b17.6x20.8x5.5x
Tue, 04 Jul 2023CA$220.1bCA$40.3bCA$10.4b12.4x21.2x5.5x
Thu, 01 Jun 2023CA$215.4bCA$40.6bCA$10.4b11.6x20.7x5.3x
Sat, 29 Apr 2023CA$220.5bCA$40.5bCA$10.4b15.8x21.3x5.4x
Price to Earnings Ratio

21.3x


Total Market Cap: CA$220.5bTotal Earnings: CA$10.4bTotal Revenue: CA$40.5bTotal 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 declined 3.3% per year over the last three years.
  • Meanwhile revenues for these companies have grown 3.8% 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, which has decreased profits.

Industry Trends

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

CA Market-1.08%
Industrials0.26%
Transportation-0.64%
Cargo Ground Transportation6.68%
Trucking1.49%
Railroads-1.24%
Industry PE
  • Investors are most optimistic about the Cargo Ground Transportation industry which is trading above its 3-year average PE ratio of 19.9x.
    • Analysts are expecting annual earnings growth of 18.0%, 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
TFII TFI InternationalCA$184.957.3%
+CA$1.0b		70.2%PE35.8x
MTL Mullen GroupCA$18.261.3%
+CA$22.1m		47.7%PE19.2x
ARGH ArgoCA$0.341.5%
+CA$1.4m		-26.1%PS60.1x

Latest News

TFII
CA$184.95
TFI International
7D
7.3%
1Y
70.2%

TFII: Soft Freight Volumes And Subdued Guidance Will Cap Near Term Upside

Analysts have nudged the TFI International fair value estimate higher to CA$119.32 from CA$119.05, reflecting modestly stronger revenue growth assumptions, a slightly lower discount rate, and updated views on freight cycle recovery and less than truckload execution. Analyst Commentary Street research on TFI International has been active, with a mix of higher and lower price targets reflecting different views on freight recovery, execution in less than truckload, and the risk that near term guidance lags investor expectations.
CNR
CA$150.83
Canadian National Railway
7D
-2.2%
1Y
11.8%

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$18.26
Mullen Group
7D
1.3%
1Y
47.7%

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.
CP
CA$112.79
Canadian Pacific Kansas City
7D
-0.3%
1Y
12.0%
ARGH
CA$0.34
Argo
7D
1.5%
1Y
-26.1%