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Canadian (TSX) Real Estate Industry Analysis

UpdatedMay 25, 2025
DataAggregated Company Financials
Companies29
  • 7D-4.1%
  • 3M-4.8%
  • 1Y9.7%
  • YTD-9.5%

Over the last 7 days, the Real Estate industry has dropped 4.2%, driven by a pullback from Colliers International Group of 8.9%. In contrast, Invesque has gained 25%. In the past year, the industry has gained 9.8%. As for the next few years, earnings are expected to grow by 9.6% per annum.

Industry Valuation and Performance

Has the Canadian Real Estate Industry valuation changed over the past few years?

DateMarket CapRevenueEarningsPEAbsolute PEPS
Sun, 25 May 2025CA$28.1bCA$18.4bCA$1.1b8x25.6x1.5x
Tue, 22 Apr 2025CA$27.5bCA$18.2bCA$1.2b9.5x23.7x1.5x
Thu, 20 Mar 2025CA$28.7bCA$18.7bCA$1.2b9.4x24.8x1.5x
Sat, 15 Feb 2025CA$30.3bCA$18.7bCA$804.7m11.6x37.6x1.6x
Mon, 13 Jan 2025CA$30.3bCA$18.2bCA$762.3m11.7x39.8x1.7x
Wed, 11 Dec 2024CA$32.9bCA$17.9bCA$755.3m16x43.6x1.8x
Fri, 08 Nov 2024CA$32.2bCA$17.7bCA$778.1m7.6x41.4x1.8x
Sun, 06 Oct 2024CA$31.3bCA$16.8bCA$699.4m9.1x44.7x1.9x
Tue, 03 Sep 2024CA$30.5bCA$16.7bCA$695.7m8.8x43.9x1.8x
Thu, 01 Aug 2024CA$30.0bCA$16.8bCA$480.7m7x62.3x1.8x
Sat, 29 Jun 2024CA$27.6bCA$16.7bCA$538.8m8.7x51.2x1.7x
Mon, 27 May 2024CA$27.0bCA$16.7bCA$503.0m9x53.6x1.6x
Wed, 24 Apr 2024CA$32.4bCA$17.5bCA$443.6m16.1x72.9x1.8x
Fri, 22 Mar 2024CA$34.3bCA$17.4bCA$473.0m17.5x72.5x2x
Sun, 18 Feb 2024CA$33.6bCA$17.2bCA$257.2m15.8x130.6x2x
Tue, 16 Jan 2024CA$30.9bCA$17.1bCA$227.7m12.3x135.6x1.8x
Thu, 14 Dec 2023CA$29.5bCA$17.1bCA$279.8m12.7x105.5x1.7x
Sat, 11 Nov 2023CA$27.7bCA$17.4bCA$409.7m14.2x67.6x1.6x
Mon, 09 Oct 2023CA$27.7bCA$17.2bCA$582.3m8.4x47.6x1.6x
Wed, 06 Sep 2023CA$30.3bCA$17.1bCA$581.7m8.9x52x1.8x
Fri, 04 Aug 2023CA$30.0bCA$17.3bCA$1.2b8.6x25.4x1.7x
Sun, 02 Jul 2023CA$28.8bCA$17.0bCA$1.3b7.1x21.4x1.7x
Tue, 30 May 2023CA$28.1bCA$17.4bCA$1.4b7.2x20.2x1.6x
Thu, 27 Apr 2023CA$28.6bCA$17.1bCA$1.9b7.2x15.1x1.7x
Sat, 25 Mar 2023CA$28.2bCA$17.1bCA$1.8b7.2x15.3x1.6x
Mon, 20 Feb 2023CA$30.8bCA$16.8bCA$2.7b6.7x11.5x1.8x
Wed, 18 Jan 2023CA$28.6bCA$16.7bCA$2.7b6.6x10.6x1.7x
Fri, 16 Dec 2022CA$26.5bCA$17.0bCA$2.7b7.6x9.8x1.6x
Sun, 13 Nov 2022CA$28.1bCA$16.4bCA$2.3b6.8x12.1x1.7x
Tue, 11 Oct 2022CA$26.2bCA$16.5bCA$2.7b7.2x9.8x1.6x
Thu, 08 Sep 2022CA$28.3bCA$15.9bCA$2.6b7x10.8x1.8x
Sat, 06 Aug 2022CA$30.3bCA$15.6bCA$2.2b8.2x13.8x1.9x
Mon, 04 Jul 2022CA$27.7bCA$15.2bCA$1.5b7.3x18.4x1.8x
Wed, 01 Jun 2022CA$30.4bCA$15.0bCA$1.5b7.2x20.5x2x
Price to Earnings Ratio

20.5x


Total Market Cap: CA$30.4bTotal Earnings: CA$1.5bTotal Revenue: CA$15.0bTotal Market Cap vs Earnings and Revenue0%0%0%
Canadian Real Estate Industry Price to Earnings3Y Average 40.6x202320242025
Current Industry PE
  • Investors are pessimistic on the Canadian Real Estate industry, indicating that they anticipate long term growth rates will be lower than they have historically.
  • The industry is trading at a PE ratio of 25.7x which is lower than its 3-year average PE of 40.6x.
  • The 3-year average PS ratio of 1.7x is higher than the industry's current PS ratio of 1.5x.
Past Earnings Growth
  • The earnings for companies in the Real Estate industry have declined 9.5% per year over the last three years.
  • Meanwhile revenues for these companies have grown 6.9% 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 Real Estate industry?

CA Market-0.078%
Real Estate-2.71%
Real Estate-4.14%
Diversified Real Estate3.49%
Real Estate Operating Companies0.071%
Real Estate Development-2.68%
Real Estate Services-5.06%
Industry PE
  • Investors are most optimistic about the Real Estate Services industry even though it's trading below its 3-year average PE ratio of 65.9x.
    • Analysts are expecting annual earnings growth of 17.7%, which is lower than the prior year's growth of 46.8% per year.
  • Investors are most pessimistic about the Real Estate Development industry, which is trading below its 3-year average of 7.0x.
Forecasted Growth
  • Analysts are most optimistic on the Real Estate Services industry, expecting annual earnings growth of 18% over the next 5 years.
  • However this is lower than its past earnings growth rate of 47% per year.
  • In contrast, the Real Estate Development industry is expected to see its earnings decline by 69% 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
CMU Comet IndustriesCA$4.000%
CA$100.2m		0%PS10010.4x
IVQ InvesqueCA$0.1525.0%
+CA$27.4m		-53.1%PS0.6x
MPC Madison Pacific PropertiesCA$5.428.4%
+CA$25.0m		-8.9%PE22.4x
ISC Information ServicesCA$29.794.5%
+CA$23.9m		13.7%PE20.2x
WFC Wall FinancialCA$14.233.5%
+CA$15.4m		-29.2%PE16.7x
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MRC

CA$112.00

Morguard

7D

-1.3%

1Y

0.9%

BRE

CA$14.46

Bridgemarq Real Estate Services

7D

1.0%

1Y

6.2%

YEG

CA$0.20

Yorkton Equity Group

7D

2.6%

1Y

14.3%

MPC

CA$5.42

Madison Pacific Properties

7D

8.4%

1Y

-8.9%

DRM

CA$17.85

Dream Unlimited

7D

-5.2%

1Y

-8.9%

CIGI

CA$162.18

Colliers International Group

7D

-8.9%

1Y

6.3%

MRD

CA$13.61

Melcor Developments

7D

1.8%

1Y

15.6%

AIF

CA$54.75

Altus Group

7D

-2.4%

1Y

13.6%

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May 16
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WFC

CA$14.23

Wall Financial

7D

3.5%

1Y

-29.2%

IVQ

CA$0.15

Invesque

7D

25.0%

1Y

-53.1%

FSV

CA$237.67

FirstService

7D

-3.1%

1Y

21.3%

Is FirstService Corporation (TSE:FSV) Worth CA$246 Based On Its Intrinsic Value?

May 13
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ISC

CA$29.79

Information Services

7D

4.5%

1Y

13.7%

MEQ

CA$190.75

Mainstreet Equity

7D

-1.0%

1Y

12.5%

SVI

CA$3.79

StorageVault Canada

7D

-1.8%

1Y

-17.1%

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May 02
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REAL

CA$5.77

Real Matters

7D

-3.2%

1Y

0.3%

CMU

CA$4.00

Comet Industries

7D

0%

1Y

0%