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Canadian (TSX) Real Estate Industry Analysis
UpdatedMay 16, 2025
DataAggregated Company Financials
Companies29
- 7D2.3%
- 3M-3.0%
- 1Y11.7%
- YTD-5.6%
In the last week, the Real Estate industry is up 1.8%, with Colliers International Group up 6.1%. This means that the industry has gained 10% over the past year. Earnings are forecast to grow by 9.7% annually.
Industry Valuation and Performance
Has the Canadian Real Estate Industry valuation changed over the past few years?
| Date | Market Cap | Revenue | Earnings | PE | Absolute PE | PS |
|---|---|---|---|---|---|---|
| Fri, 16 May 2025 | CA$28.9b | CA$18.6b | CA$1.1b | 10.8x | 26.1x | 1.6x |
| Sun, 13 Apr 2025 | CA$26.9b | CA$18.3b | CA$1.2b | 9.4x | 23.1x | 1.5x |
| Tue, 11 Mar 2025 | CA$29.4b | CA$18.8b | CA$1.1b | 11.2x | 25.8x | 1.6x |
| Thu, 06 Feb 2025 | CA$31.8b | CA$18.5b | CA$794.6m | 11.6x | 40x | 1.7x |
| Sat, 04 Jan 2025 | CA$31.0b | CA$18.2b | CA$762.7m | 10.3x | 40.6x | 1.7x |
| Mon, 02 Dec 2024 | CA$33.2b | CA$17.7b | CA$677.7m | 15.8x | 49x | 1.9x |
| Wed, 30 Oct 2024 | CA$32.8b | CA$17.5b | CA$745.9m | 9.2x | 43.9x | 1.9x |
| Fri, 27 Sep 2024 | CA$31.6b | CA$16.7b | CA$697.5m | 9.2x | 45.2x | 1.9x |
| Sun, 25 Aug 2024 | CA$30.4b | CA$16.7b | CA$674.9m | 11.3x | 45x | 1.8x |
| Tue, 23 Jul 2024 | CA$30.6b | CA$16.8b | CA$533.5m | 8.7x | 57.3x | 1.8x |
| Thu, 20 Jun 2024 | CA$27.2b | CA$16.7b | CA$537.5m | 8.5x | 50.5x | 1.6x |
| Sat, 18 May 2024 | CA$27.7b | CA$16.5b | CA$523.7m | 8.5x | 52.9x | 1.7x |
| Mon, 15 Apr 2024 | CA$32.8b | CA$17.6b | CA$447.4m | 16.3x | 73.3x | 1.9x |
| Wed, 13 Mar 2024 | CA$33.4b | CA$17.3b | CA$507.6m | 16.8x | 65.8x | 1.9x |
| Fri, 09 Feb 2024 | CA$31.8b | CA$17.1b | CA$243.6m | 14.1x | 130.8x | 1.9x |
| Sun, 07 Jan 2024 | CA$30.4b | CA$17.0b | CA$289.8m | 12.5x | 104.9x | 1.8x |
| Tue, 05 Dec 2023 | CA$29.2b | CA$17.2b | CA$298.3m | 10.7x | 98.1x | 1.7x |
| Thu, 02 Nov 2023 | CA$26.8b | CA$17.6b | CA$605.1m | 9.9x | 44.3x | 1.5x |
| Sat, 30 Sep 2023 | CA$27.7b | CA$17.1b | CA$579.9m | 8.4x | 47.7x | 1.6x |
| Mon, 28 Aug 2023 | CA$29.5b | CA$17.1b | CA$580.9m | 8.8x | 50.7x | 1.7x |
| Wed, 26 Jul 2023 | CA$30.0b | CA$16.9b | CA$1.3b | 8.5x | 22.5x | 1.8x |
| Fri, 23 Jun 2023 | CA$27.7b | CA$16.9b | CA$1.3b | 7.1x | 20.8x | 1.6x |
| Sun, 21 May 2023 | CA$28.1b | CA$17.3b | CA$1.4b | 6.9x | 20.2x | 1.6x |
| Tue, 18 Apr 2023 | CA$29.1b | CA$16.8b | CA$1.9b | 7.1x | 15.6x | 1.7x |
| Thu, 16 Mar 2023 | CA$28.7b | CA$17.2b | CA$1.9b | 7.4x | 15.2x | 1.7x |
| Sat, 11 Feb 2023 | CA$30.4b | CA$16.7b | CA$2.7b | 6.6x | 11.5x | 1.8x |
| Mon, 09 Jan 2023 | CA$27.4b | CA$16.8b | CA$2.7b | 7.2x | 10.2x | 1.6x |
| Wed, 07 Dec 2022 | CA$26.9b | CA$17.0b | CA$2.7b | 6.4x | 10x | 1.6x |
| Fri, 04 Nov 2022 | CA$26.5b | CA$16.7b | CA$2.7b | 6.9x | 10x | 1.6x |
| Sun, 02 Oct 2022 | CA$26.5b | CA$16.5b | CA$2.7b | 7.3x | 9.9x | 1.6x |
| Tue, 30 Aug 2022 | CA$29.3b | CA$15.8b | CA$2.6b | 7.1x | 11.3x | 1.9x |
| Thu, 28 Jul 2022 | CA$29.4b | CA$15.2b | CA$1.4b | 7.5x | 21.8x | 1.9x |
| Sat, 25 Jun 2022 | CA$27.7b | CA$15.2b | CA$1.5b | 7.1x | 18.4x | 1.8x |
| Mon, 23 May 2022 | CA$29.5b | CA$15.2b | CA$1.5b | 6.8x | 19.8x | 1.9x |
Price to Earnings Ratio
19.8x
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 25.9x which is lower than its 3-year average PE of 40.6x.
- The industry is trading close to its 3-year average PS ratio of 1.7x.
Past Earnings Growth
- The earnings for companies in the Real Estate industry have declined 8.8% per year over the last three years.
- Meanwhile revenues for these companies have grown 7.2% 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 | 2.08% | |
| Real Estate | 1.47% | |
| Real Estate | 2.34% | |
| Diversified Real Estate | 17.75% | |
| Real Estate Development | 3.08% | |
| Real Estate Services | 2.69% | |
| Real Estate Operating Companies | -1.32% | |
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 65.0x.
- Analysts are expecting annual earnings growth of 17.6%, 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 7.1x.
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 71% per year over the next few years.
Top Stock Gainers and Losers
Which companies have driven the market over the last 7 days?
| Company | Last Price | 7D | 1Y | Valuation | |
|---|---|---|---|---|---|
| CIGI Colliers International Group | CA$178.66 | 4.2% +CA$362.0m | 12.7% | PE44.7x | |
| AIF Altus Group | CA$55.22 | 5.6% +CA$129.3m | 15.3% | PE497.2x | |
| FSV FirstService | CA$245.64 | 0.9% +CA$96.8m | 20.9% | PE61.1x | |
| WFC Wall Financial | CA$14.73 | 17.7% +CA$71.2m | -25.6% | PE17.3x | |
| ISC Information Services | CA$27.92 | 9.1% +CA$43.0m | 6.2% | PE18.9x |
