Investing IdeasBrowse All StocksMarkets
Have your own idea? Try our Stock Screener
Header cover image

Canadian (TSX) Tech Sector Analysis

UpdatedApr 08, 2026
DataAggregated Company Financials
Companies114
  • 7D0.8%
  • 3M-17.6%
  • 1Y-10.5%
  • YTD-16.6%

Over the last 7 days, the Tech industry has risen 5.9%, driven by gains from Celestica of 5.4%. In the past year, the industry is down 9.4%. Looking forward, earnings are forecast to grow by 25% annually.

Sector Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Wed, 08 Apr 2026CA$169.8bCA$63.0bCA$2.5b35.5x67.8x2.7x
Fri, 06 Mar 2026CA$168.4bCA$62.0bCA$2.8b36.7x59.6x2.7x
Sun, 01 Feb 2026CA$172.3bCA$61.6bCA$2.9b25.7x60x2.8x
Tue, 30 Dec 2025CA$204.2bCA$60.0bCA$2.7b22.5x75.4x3.4x
Thu, 27 Nov 2025CA$210.6bCA$60.9bCA$2.7b22.2x77.4x3.5x
Sat, 25 Oct 2025CA$216.6bCA$58.5bCA$2.7b39.3x81.3x3.7x
Mon, 22 Sep 2025CA$228.5bCA$58.0bCA$2.7b39.6x85.6x3.9x
Wed, 20 Aug 2025CA$218.2bCA$58.2bCA$2.6b40.6x84x3.8x
Fri, 18 Jul 2025CA$229.8bCA$55.9bCA$2.4b39.4x95.5x4.1x
Sun, 15 Jun 2025CA$216.9bCA$55.5bCA$2.4b33.7x90.2x3.9x
Tue, 13 May 2025CA$219.7bCA$56.0bCA$3.2b27.6x68x3.9x
Thu, 10 Apr 2025CA$187.8bCA$57.9bCA$2.5b22.8x74.9x3.2x
Sat, 08 Mar 2025CA$209.9bCA$58.3bCA$2.0b22.5x107.6x3.6x
Mon, 03 Feb 2025CA$224.0bCA$58.3b-CA$337,105,034.3822.1x-664.6x3.8x
Wed, 01 Jan 2025CA$208.7bCA$57.2b-CA$444,623,276.5425.3x-469.3x3.6x
Fri, 29 Nov 2024CA$212.2bCA$56.3b-CA$388,023,994.9826.2x-547x3.8x
Sun, 27 Oct 2024CA$193.7bCA$55.0b-CA$574,107,204.6624.1x-337.4x3.5x
Tue, 24 Sep 2024CA$191.5bCA$53.6b-CA$580,473,685.6123x-330x3.6x
Thu, 22 Aug 2024CA$187.8bCA$53.7b-CA$582,320,604.2622.1x-322.5x3.5x
Sat, 20 Jul 2024CA$187.4bCA$52.5b-CA$1,416,509,864.0331.6x-132.3x3.6x
Mon, 17 Jun 2024CA$175.8bCA$52.7b-CA$1,391,174,741.7328.1x-126.3x3.3x
Wed, 15 May 2024CA$173.1bCA$52.4b-CA$1,554,461,416.8530x-111.3x3.3x
Fri, 12 Apr 2024CA$174.8bCA$52.6b-CA$2,384,284,249.7521.2x-73.3x3.3x
Sun, 10 Mar 2024CA$174.6bCA$52.2b-CA$2,876,007,458.0821.5x-60.7x3.3x
Tue, 06 Feb 2024CA$166.1bCA$51.3b-CA$2,062,483,905.8419.6x-80.5x3.2x
Thu, 04 Jan 2024CA$155.6bCA$51.9b-CA$2,231,561,921.0021.3x-69.7x3x
Sat, 02 Dec 2023CA$152.9bCA$52.1b-CA$2,434,124,178.0022.6x-62.8x2.9x
Mon, 30 Oct 2023CA$134.7bCA$51.9b-CA$2,571,513,519.0022.4x-52.4x2.6x
Wed, 27 Sep 2023CA$139.6bCA$51.1b-CA$2,647,156,527.0024.3x-52.7x2.7x
Fri, 25 Aug 2023CA$142.8bCA$51.2b-CA$2,680,418,882.0024.2x-53.3x2.8x
Sun, 23 Jul 2023CA$145.3bCA$48.8b-CA$2,521,691,617.0020.5x-57.6x3x
Tue, 20 Jun 2023CA$141.8bCA$48.5b-CA$2,611,089,661.0021.2x-54.3x2.9x
Thu, 18 May 2023CA$139.9bCA$48.8b-CA$1,895,361,124.0022.9x-73.8x2.9x
Sat, 15 Apr 2023CA$138.4bCA$46.7b-CA$1,935,827,043.0026.7x-71.5x3x
Price to Earnings Ratio

-71.5x


Total Market Cap: CA$138.4bTotal Earnings: -CA$1,935,827,043.00Total Revenue: CA$46.7bTotal Market Cap vs Earnings and Revenue0%0%0%
Canadian Tech Sector Price to Earnings3Y Average -111x202420252026
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 67.8x which is higher than its 3-year average PE of -111x.
  • The 3-year average PS ratio of 3.7x is higher than the industry's current PS ratio of 2.7x.
Past Earnings Growth
  • Total earnings for the Information Technology industry have gone up over the last three years, and the industry is now profitable. Revenues have grown 10% per year.
  • This means that more sales are being generated by the industry overall, and subsequently profits are increasing too.

Industry Trends

Which industries have driven the changes within the Canadian Tech sector?

CA Market1.35%
Tech0.85%
Electronic Equipment and Components5.46%
Communications0.55%
Tech Hardware0%0
IT-0.66%
Software-1.12%
Semiconductors-2.83%
Industry PE
  • Investors are most optimistic about the Electronic Equipment and Components industry even though it's trading below its 3-year average PE ratio of 134x.
    • Analysts are expecting annual earnings growth of 31.6%, which is lower than the prior year's growth of 65.3% per year.
Forecasted Growth
  • Analysts are most optimistic on the Communications industry, expecting annual earnings growth of 36% over the next 5 years.
  • This is better than its past earnings growth rate of 2.8% per year.
  • In contrast, the IT industry is expected to see its earnings grow by 9.1% 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
CLS CelesticaCA$413.535.4%
+CA$2.4b		321.8%PE41.1x
XNDU Xanadu Quantum TechnologiesCA$10.55-1.4%
CA$404.7m		n/aPS95.2x
BB BlackBerryCA$4.847.3%
+CA$194.7m		18.3%PE97.4x
LMN Lumine GroupCA$22.812.9%
+CA$166.8m		-44.6%PE35.5x
PNG Kraken RoboticsCA$8.486.0%
+CA$147.3m		300.0%PE157.9x

Latest News

CLS
CA$413.53
Celestica
7D
5.4%
1Y
321.8%
BB
CA$4.84
BlackBerry
7D
7.3%
1Y
18.3%
DCBO
CA$23.66
Docebo
7D
-3.0%
1Y
-38.5%

DCBO: Buybacks And Solid Bookings Are Expected To Support Upside Repricing

Narrative update Analysts have trimmed their average price targets on Docebo, with recent cuts such as Scotiabank moving to CA$25 from CA$32, Morgan Stanley to CA$26 from CA$28, and Stifel to CA$28 from CA$34. These revisions reflect expectations for softer near-term organic subscription growth and contract headwinds, even as analysts point to solid gross bookings and a core business that appears healthier than the headline metrics suggest.
GIB.A
CA$101.00
CGI
7D
-0.7%
1Y
-26.5%

GIB.A: Future Upside Will Rely On AI Led Public Sector Contracts

Analyst price targets on CGI have been adjusted in a mixed way, with some firms trimming their views by CA$5 to CA$7 and others lifting targets by CA$8, as analysts factor in modest tweaks to the discount rate, revenue growth, profit margin, and future P/E assumptions. Analyst Commentary Recent research updates on CGI reflect a split view, with some analysts trimming price targets and others lifting them as they recalibrate models for discount rates, revenue outlook, margins, and P/E assumptions.
LSPD
CA$12.33
Lightspeed Commerce
7D
-0.9%
1Y
7.5%

LSPD: Multi Year Product Execution And Profit Discipline Will Support Upside Potential

Analysts have trimmed their average 12 month price target on Lightspeed Commerce by a few Canadian dollars to around CA$20, citing a series of recent target reductions from firms revisiting their assumptions on discount rates, long term growth, and sector valuations. Analyst Commentary Recent Street research on Lightspeed Commerce has focused on recalibrating price targets rather than changing overall ratings, with several firms trimming their estimates by between $1 and $4 and one large bank setting a target of $14 alongside an Equal Weight stance.
ABXX
CA$55.55
Abaxx Technologies
7D
7.4%
1Y
478.0%
FTG
CA$21.20
Firan Technology Group
7D
13.8%
1Y
202.4%
PNG
CA$8.48
Kraken Robotics
7D
6.0%
1Y
300.0%
BTQ
CA$3.22
BTQ Technologies
7D
-11.3%
1Y
49.1%
DSG
CA$96.45
Descartes Systems Group
7D
-3.2%
1Y
-28.0%
XNDU
CA$10.55
Xanadu Quantum Technologies
7D
-1.4%
1Y
n/a
CSU
CA$2,378.34
Constellation Software
7D
-2.6%
1Y
-44.5%
KXS
CA$139.66
Kinaxis
7D
-0.5%
1Y
-13.0%

KXS: AI Supply Chain Orchestration And GPU Acceleration Will Support Future Upside

Kinaxis' updated fair value estimate edges up to CA$209.65 from CA$205.52, even as Street price targets consolidate around CA$200. Analysts point to recent target trims at several firms while still backing the long term earnings profile reflected in slightly adjusted discount rate, profit margin and future P/E assumptions.
QNC
CA$3.09
Quantum eMotion
7D
-2.8%
1Y
483.0%
LMN
CA$22.81
Lumine Group
7D
2.9%
1Y
-44.6%
TOI
CA$93.05
Topicus.com
7D
1.2%
1Y
-32.4%