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Canadian (TSX) Tech Sector Analysis

UpdatedApr 14, 2026
DataAggregated Company Financials
Companies115
  • 7D7.2%
  • 3M-12.8%
  • 1Y-7.6%
  • YTD-9.4%

In the last week, the Tech industry is up 7.2%, with Celestica up 24%. In the same time, Descartes Systems Group was down 7.1%. In the past year, the industry is down 7.6%. 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
Tue, 14 Apr 2026CA$175.9bCA$62.7bCA$2.5b34.9x69.4x2.8x
Thu, 12 Mar 2026CA$176.6bCA$62.3bCA$2.6b36.7x68.7x2.8x
Sat, 07 Feb 2026CA$168.7bCA$61.7bCA$2.9b26.1x57.8x2.7x
Mon, 05 Jan 2026CA$200.2bCA$60.1bCA$2.7b24.3x74.1x3.3x
Wed, 03 Dec 2025CA$204.4bCA$60.8bCA$2.7b27.1x75x3.4x
Fri, 31 Oct 2025CA$216.8bCA$59.5bCA$2.9b39.3x74.4x3.6x
Sun, 28 Sep 2025CA$205.9bCA$58.4bCA$2.7b38.8x77.1x3.5x
Tue, 26 Aug 2025CA$222.7bCA$58.2bCA$2.6b41.1x85.7x3.8x
Thu, 24 Jul 2025CA$227.1bCA$55.5bCA$2.4b44.5x94.7x4.1x
Sat, 21 Jun 2025CA$220.0bCA$55.9bCA$2.4b33.7x91.1x3.9x
Mon, 19 May 2025CA$225.2bCA$56.4bCA$3.2b29.4x70.3x4x
Wed, 16 Apr 2025CA$199.3bCA$57.6bCA$2.5b24.9x79.6x3.5x
Fri, 14 Mar 2025CA$208.2bCA$58.9bCA$2.2b22.4x95.5x3.5x
Sun, 09 Feb 2025CA$228.9bCA$57.7b-CA$288,023,684.4121.8x-794.6x4x
Tue, 07 Jan 2025CA$210.4bCA$57.1b-CA$437,802,149.9524.9x-480.6x3.7x
Thu, 05 Dec 2024CA$212.6bCA$56.4b-CA$371,760,852.7625x-572x3.8x
Sat, 02 Nov 2024CA$190.6bCA$55.2b-CA$578,166,086.7523.1x-329.6x3.4x
Mon, 30 Sep 2024CA$191.1bCA$53.5b-CA$541,836,049.9722.1x-352.8x3.6x
Wed, 28 Aug 2024CA$189.6bCA$53.4b-CA$597,910,154.2823.5x-317.1x3.6x
Fri, 26 Jul 2024CA$190.5bCA$53.4b-CA$1,372,194,916.3231.2x-138.9x3.6x
Sun, 23 Jun 2024CA$174.9bCA$52.6b-CA$1,383,323,604.1624.8x-126.5x3.3x
Tue, 21 May 2024CA$175.4bCA$52.4b-CA$1,457,303,752.0530.2x-120.3x3.3x
Thu, 18 Apr 2024CA$175.4bCA$52.8b-CA$2,411,271,065.8022x-72.8x3.3x
Sat, 16 Mar 2024CA$173.0bCA$52.2b-CA$2,936,027,742.6921.3x-58.9x3.3x
Mon, 12 Feb 2024CA$168.3bCA$51.2b-CA$993,982,923.3118.8x-169.3x3.3x
Wed, 10 Jan 2024CA$160.4bCA$52.0b-CA$2,241,531,748.0021.8x-71.6x3.1x
Fri, 08 Dec 2023CA$157.0bCA$52.6b-CA$2,511,605,680.0021.6x-62.5x3x
Sun, 05 Nov 2023CA$144.0bCA$51.8b-CA$2,713,954,616.0022.7x-53.1x2.8x
Tue, 03 Oct 2023CA$142.1bCA$51.3b-CA$2,576,764,974.0023.1x-55.2x2.8x
Thu, 31 Aug 2023CA$146.9bCA$51.1b-CA$2,653,965,176.0024.2x-55.3x2.9x
Sat, 29 Jul 2023CA$142.4bCA$49.4b-CA$2,450,826,241.0019.8x-58.1x2.9x
Mon, 26 Jun 2023CA$139.3bCA$48.5b-CA$2,606,482,614.0020.5x-53.4x2.9x
Wed, 24 May 2023CA$138.7bCA$48.9b-CA$2,757,454,549.0022.9x-50.3x2.8x
Fri, 21 Apr 2023CA$136.0bCA$46.9b-CA$1,955,939,189.0023.2x-69.6x2.9x
Price to Earnings Ratio

-69.6x


Total Market Cap: CA$136.0bTotal Earnings: -CA$1,955,939,189.00Total Revenue: CA$46.9bTotal Market Cap vs Earnings and Revenue0%0%0%
Canadian Tech Sector Price to Earnings3Y Average -110.2x202420252026
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 69.4x which is higher than its 3-year average PE of -110x.
  • The 3-year average PS ratio of 3.7x is higher than the industry's current PS ratio of 2.8x.
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 Market2.40%
Tech7.23%
Electronic Equipment and Components22.72%
Semiconductors6.81%
Communications1.11%
Tech Hardware0%0
Software-0.21%
IT-1.09%
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 31.5%, 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 9.2% 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$529.9928.2%
+CA$13.4b		359.3%PE53.2x
XNDU Xanadu Quantum TechnologiesCA$20.4894.1%
+CA$3.0b		n/aPS1286.5x
CSU Constellation SoftwareCA$2.52k5.8%
+CA$2.9b		-46.1%PE75.7x
KEEL Keel InfrastructureCA$3.9137.2%
+CA$639.0m		252.3%n/a
BB BlackBerryCA$5.4913.4%
+CA$371.2m		21.7%PE44.1x

Latest News

DCBO
CA$21.52
Docebo
7D
-9.0%
1Y
-47.6%
DSG
CA$94.26
Descartes Systems Group
7D
-2.3%
1Y
-34.8%

DSG: AI Logistics Execution And Reaccelerating Demand Will Support Future Upside

Analysts have trimmed their consolidated price target for Descartes Systems Group to reflect lower sector valuation multiples, with recent revisions ranging from CA$82 to CA$100. They still point to resilient growth, solid profitability and a view that the recent AI driven sell off may have gone too far.
HAI
CA$7.37
Haivision Systems
7D
-3.0%
1Y
82.9%

HAI: Upgrade And Buybacks Will Support Confidence In 2026 Earnings Delivery

Analysts have updated their outlook on Haivision Systems, with the consensus price target now aligned with a fair value estimate of CA$11.56. Recent research points to refined assumptions for discount rate, revenue growth, profit margin, and future P/E rather than a major shift in the underlying story.
BB
CA$5.49
BlackBerry
7D
13.4%
1Y
21.7%
CLS
CA$529.99
Celestica
7D
28.2%
1Y
359.3%
FTG
CA$20.23
Firan Technology Group
7D
-4.6%
1Y
136.3%
BLN
CA$8.93
Blackline Safety
7D
25.6%
1Y
40.2%
CSU
CA$2,515.75
Constellation Software
7D
5.8%
1Y
-46.1%

AI Reinvestment Risks And Acquisition Pressures Will Still Support Long Term Earnings Potential

Catalysts About Constellation Software Constellation Software acquires, owns and operates vertical market software businesses that provide mission critical solutions to customers around the world. What are the underlying business or industry changes driving this perspective?
DND
CA$3.86
Dye & Durham
7D
-3.5%
1Y
-54.3%

DND: Ongoing Review And Filing Progress Will Support Future Repricing Potential

Analysts have trimmed their average price target for Dye & Durham by CA$0.50 to CA$4.00. This change reflects recent target cuts and ongoing questions about the company’s financial health and progress on its review process.
CMG
CA$4.13
Computer Modelling Group
7D
-5.5%
1Y
-44.3%
XNDU
CA$20.48
Xanadu Quantum Technologies
7D
94.1%
1Y
n/a
TOI
CA$95.50
Topicus.com
7D
2.6%
1Y
-35.9%
ISTK
CA$0.42
Intellistake Technologies
7D
-13.4%
1Y
223.1%
HIVE
CA$3.33
HIVE Digital Technologies
7D
23.3%
1Y
65.7%
XTAO.U
US$0.35
xTAO
7D
-34.3%
1Y
n/a