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Canadian (TSX) Tech Sector Analysis

UpdatedJan 01, 2026
DataAggregated Company Financials
Companies117
  • 7D-1.8%
  • 3M-6.9%
  • 1Y-2.7%
  • YTD-3.1%

Over the last 7 days, the Tech industry has dropped 1.8%, driven by Celestica declining 4.0%. As for the longer term, the industry's performance has been flat for the past year. As for the next few years, earnings are expected to grow by 23% per annum.

Sector Valuation and Performance

Has the Canadian Tech Sector valuation changed over the past few years?

DateMarket CapRevenueEarningsPEAbsolute PEPS
Fri, 02 Jan 2026CA$202.4bCA$60.0bCA$2.7b24.2x74.9x3.4x
Sun, 30 Nov 2025CA$213.9bCA$60.7bCA$2.7b26.7x78.6x3.5x
Tue, 28 Oct 2025CA$221.2bCA$58.5bCA$2.7b39.3x83x3.8x
Thu, 25 Sep 2025CA$218.2bCA$58.3bCA$2.7b39.8x81.5x3.7x
Sat, 23 Aug 2025CA$217.4bCA$58.1bCA$2.6b41x83.9x3.7x
Mon, 21 Jul 2025CA$231.6bCA$55.9bCA$2.4b41.2x96.3x4.1x
Wed, 18 Jun 2025CA$217.8bCA$55.6bCA$2.4b34.3x90.5x3.9x
Fri, 16 May 2025CA$221.4bCA$56.3bCA$3.2b28.1x69.2x3.9x
Sun, 13 Apr 2025CA$197.7bCA$57.4bCA$2.5b24x79.3x3.4x
Tue, 11 Mar 2025CA$213.4bCA$59.0bCA$2.2b21.7x98.7x3.6x
Thu, 06 Feb 2025CA$226.0bCA$57.8b-CA$312,088,033.9321.8x-724.1x3.9x
Sat, 04 Jan 2025CA$208.7bCA$57.3b-CA$451,790,920.1224.7x-461.9x3.6x
Mon, 02 Dec 2024CA$213.7bCA$56.2b-CA$377,209,074.5325.7x-566.6x3.8x
Wed, 30 Oct 2024CA$194.7bCA$55.1b-CA$580,946,536.1223.4x-335.2x3.5x
Fri, 27 Sep 2024CA$191.5bCA$53.4b-CA$568,091,857.5422.8x-337.1x3.6x
Sun, 25 Aug 2024CA$189.5bCA$53.6b-CA$605,310,244.8622.1x-313.1x3.5x
Tue, 23 Jul 2024CA$188.0bCA$52.6b-CA$1,420,834,448.2331.2x-132.3x3.6x
Thu, 20 Jun 2024CA$174.6bCA$52.6b-CA$1,385,943,226.0626.9x-126x3.3x
Sat, 18 May 2024CA$175.2bCA$52.4b-CA$1,458,011,250.3830.2x-120.2x3.3x
Mon, 15 Apr 2024CA$173.5bCA$52.8b-CA$2,417,740,659.0721.7x-71.7x3.3x
Wed, 13 Mar 2024CA$174.1bCA$52.2b-CA$2,875,388,224.6621.8x-60.5x3.3x
Fri, 09 Feb 2024CA$166.3bCA$51.1b-CA$2,035,625,777.0519x-81.7x3.3x
Sun, 07 Jan 2024CA$156.1bCA$51.9b-CA$2,232,863,118.0021.2x-69.9x3x
Tue, 05 Dec 2023CA$155.1bCA$52.3b-CA$2,422,181,646.0022.4x-64x3x
Thu, 02 Nov 2023CA$139.3bCA$51.9b-CA$2,567,657,758.0022.7x-54.3x2.7x
Sat, 30 Sep 2023CA$141.3bCA$51.1b-CA$2,554,993,386.0023.6x-55.3x2.8x
Mon, 28 Aug 2023CA$144.1bCA$51.2b-CA$2,681,741,981.0024x-53.7x2.8x
Wed, 26 Jul 2023CA$145.3bCA$48.7b-CA$2,512,132,887.0020.3x-57.9x3x
Fri, 23 Jun 2023CA$140.4bCA$48.4b-CA$2,596,318,192.0020.8x-54.1x2.9x
Sun, 21 May 2023CA$142.8bCA$48.9b-CA$1,868,701,746.0024.3x-76.4x2.9x
Tue, 18 Apr 2023CA$137.3bCA$46.8b-CA$1,944,297,317.0025.8x-70.6x2.9x
Thu, 16 Mar 2023CA$133.3bCA$48.3b-CA$1,159,883,674.0023.1x-114.9x2.8x
Sat, 11 Feb 2023CA$134.1bCA$47.5b-CA$857,309,359.0024.7x-156.4x2.8x
Mon, 09 Jan 2023CA$122.6bCA$46.4bCA$628.7m21.8x194.9x2.6x
Price to Earnings Ratio

194.9x


Total Market Cap: CA$122.6bTotal Earnings: CA$628.7mTotal Revenue: CA$46.4bTotal Market Cap vs Earnings and Revenue0%0%0%
Canadian Tech Sector Price to Earnings3Y Average -117.6x202420252026
Current Industry PE
  • Investors are optimistic on the Canadian Information Technology industry, and appear confident in long term growth rates.
  • The industry is trading at a PE ratio of 74.9x which is higher than its 3-year average PE of -118x.
  • The industry is trading close to its 3-year average PS ratio of 3.7x.
Past Earnings Growth
  • The earnings for companies in the Information Technology industry have grown 63% per year over the last three years.
  • Revenues for these companies have grown 8.9% 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 Tech sector?

CA Market-0.51%
Tech-1.77%
Tech Hardware0%0
Communications-0.15%
Semiconductors-0.20%
Software-1.10%
IT-1.21%
Electronic Equipment and Components-3.74%
Industry PE
  • Investors are most optimistic about the Software industry which is trading above its 3-year average PE ratio of 171x.
    • Analysts are expecting annual earnings growth of 24.4%, which is higher than its past year's earnings growth of 6.9% per year.
Forecasted Growth
  • Analysts are most optimistic on the Electronic Equipment and Components industry, expecting annual earnings growth of 27% over the next 5 years.
  • However this is lower than its past earnings growth rate of 85% per year.
  • In contrast, the IT industry is expected to see its earnings grow by 9.3% 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
TOI Topicus.comCA$127.150.5%
+CA$52.5m		-0.1%PE252.6x
PNG Kraken RoboticsCA$6.402.2%
+CA$42.9m		131.0%PE119x
WERX Fintechwerx International Software ServicesCA$2.3649.4%
+CA$19.0m		n/an/a
DDD Metavista3DCA$0.8120.9%
+CA$15.9m		-63.2%PB10.1x
QBTQ SuperQ Quantum ComputingCA$1.5435.1%
+CA$12.0m		926.7%PB97.5x

Latest News

CSU
CA$3,301.40
Constellation Software
7D
-0.4%
1Y
-26.0%

Constellation Software (TSE:CSU) Has A Rock Solid Balance Sheet

Jan 01
Constellation Software (TSE:CSU) Has A Rock Solid Balance Sheet
GIB.A
CA$126.78
CGI
7D
-1.2%
1Y
-20.1%

CGI (TSE:GIB.A) Hasn't Managed To Accelerate Its Returns

Dec 31
CGI (TSE:GIB.A) Hasn't Managed To Accelerate Its Returns
DSG
CA$120.41
Descartes Systems Group
7D
-1.3%
1Y
-26.8%

Here's Why We Think Descartes Systems Group (TSE:DSG) Might Deserve Your Attention Today

Dec 31
Here's Why We Think Descartes Systems Group (TSE:DSG) Might Deserve Your Attention Today
DDD
CA$0.81
Metavista3D
7D
20.9%
1Y
-63.2%
PNG
CA$6.40
Kraken Robotics
7D
2.2%
1Y
131.0%

Does This Valuation Of Kraken Robotics Inc. (CVE:PNG) Imply Investors Are Overpaying?

Dec 29
Does This Valuation Of Kraken Robotics Inc. (CVE:PNG) Imply Investors Are Overpaying?
BITF
CA$3.23
Bitfarms
7D
-11.7%
1Y
29.2%

Bitfarms Ltd.'s (TSE:BITF) 25% Dip Still Leaving Some Shareholders Feeling Restless Over Its P/SRatio

Dec 28
Bitfarms Ltd.'s (TSE:BITF) 25% Dip Still Leaving Some Shareholders Feeling Restless Over Its P/SRatio
HIVE
CA$3.54
HIVE Digital Technologies
7D
-9.0%
1Y
-26.3%
DCBO
CA$30.49
Docebo
7D
1.3%
1Y
-52.3%

DCBO: Enterprise Expansion Will Drive Long-Term Returns Despite Near-Term Margin Pressure

Analysts have trimmed their price target on Docebo to $28 from $34, reflecting slightly lower fair value and profit margin assumptions, even as they highlight the company’s strong learning management platform, upmarket expansion, and enterprise focused growth strategy. Analyst Commentary Recent Street research presents a mixed but generally constructive view on Docebo, with targets and ratings reflecting both confidence in the company’s long term growth profile and caution around near term execution and profitability.
THNC
CA$1.94
Thinkific Labs
7D
7.2%
1Y
-41.0%

THNC: Share Repurchases Will Support Future Upside After Market Perform Downgrade

Narrative Update on Thinkific Labs Analysts have reduced their price target on Thinkific Labs to C$3.00, citing a more cautious outlook that offsets modest improvements in profit margin expectations and a slightly lower assumed future price to earnings multiple. Analyst Commentary Analysts have taken a more balanced stance on Thinkific Labs, reflecting both the company’s progress and the constraints on its near term growth and valuation potential at the current price target.
TOI
CA$127.15
Topicus.com
7D
0.5%
1Y
-0.1%

Some Investors May Be Worried About Topicus.com's (CVE:TOI) Returns On Capital

Dec 20
Some Investors May Be Worried About Topicus.com's (CVE:TOI) Returns On Capital
BB
CA$5.18
BlackBerry
7D
-5.1%
1Y
-3.0%
CLS
CA$406.01
Celestica
7D
-4.0%
1Y
190.1%
WERX
CA$2.36
Fintechwerx International Software Services
7D
49.4%
1Y
n/a
BTQ
CA$7.09
BTQ Technologies
7D
-12.8%
1Y
20.2%
MATA
CA$0.21
Matador Technologies
7D
53.6%
1Y
-66.4%
QBTQ
CA$1.54
SuperQ Quantum Computing
7D
35.1%
1Y
926.7%