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

Canadian (TSX) Tech Sector Analysis

UpdatedMar 08, 2026
DataAggregated Company Financials
Companies116
  • 7D5.3%
  • 3M-17.3%
  • 1Y-17.4%
  • YTD-12.8%

In the last week, the Tech industry is up 5.3%, with Constellation Software up 18%. During this same period, the Celestica underperformed, falling 10%. In the past year, the industry is down 17%. Earnings are forecast to grow by 23% annually.

Sector Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Mon, 09 Mar 2026CA$174.4bCA$61.7bCA$2.8b34.5x61.9x2.8x
Wed, 04 Feb 2026CA$171.5bCA$61.6bCA$2.9b28.6x58.3x2.8x
Fri, 02 Jan 2026CA$201.3bCA$60.0bCA$2.7b21x74.5x3.4x
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
Price to Earnings Ratio

-114.9x


Total Market Cap: CA$133.3bTotal Earnings: -CA$1,159,883,674.00Total Revenue: CA$48.3bTotal Market Cap vs Earnings and Revenue0%0%0%
Canadian Tech Sector Price to Earnings3Y Average -115.5x202420252026
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 61.9x which is higher than its 3-year average PE of -116x.
  • 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 8.6% 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 Market-3.75%
Tech5.34%
Software13.76%
IT3.62%
Communications0.076%
Tech Hardware0%0
Semiconductors-8.52%
Electronic Equipment and Components-9.66%
Industry PE
  • Investors are most optimistic about the Software industry which is trading above its 3-year average PE ratio of 173x.
    • Analysts are expecting annual earnings growth of 22.3%, which is higher than its past year's earnings growth of 17.0% per year.
Forecasted Growth
  • Analysts are most optimistic on the Electronic Equipment and Components industry, expecting annual earnings growth of 31% 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 9.1% 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
CSU Constellation SoftwareCA$2.96k17.6%
+CA$9.4b		-40.1%PE67.3x
LMN Lumine GroupCA$26.8026.2%
+CA$1.4b		-30.4%PE42.6x
TOI Topicus.comCA$109.6317.0%
+CA$1.3b		-25.4%PE138.7x
GIB.A CGICA$103.413.7%
+CA$776.4m		-31.4%PE13.2x
DSG Descartes Systems GroupCA$97.518.1%
+CA$626.8m		-32.4%PE39.7x

Latest News

GIB.A
CA$103.41
CGI
7D
3.7%
1Y
-31.4%

GIB.A: Future Upside Will Depend On Buybacks And Consistent Execution

Analysts have made modest adjustments to their CGI price targets, with cuts of CA$7 and CA$5 from some firms offset by a CA$8 increase from another. These changes reflect updated views on sector conditions and valuation assumptions.
LSPD
CA$13.00
Lightspeed Commerce
7D
5.6%
1Y
-20.7%

LSPD: Sector Reset And AI Investments Will Shape Balanced Risk Reward

The consensus analyst price target for Lightspeed Commerce has been reduced by CA$1.86. Analysts are incorporating slightly lower fair value estimates, a modestly higher discount rate, and more cautious revenue growth assumptions.
BITF
CA$2.76
Bitfarms
7D
-8.0%
1Y
54.2%

BITF: Liquidity Execution And Pending U.S. Crypto Rules Will Drive Future Upside

The analyst price target for Bitfarms has been reduced to CA$6.99 from CA$8.48 as analysts factor in higher perceived liquidity risks, less optimistic revenue and margin assumptions, and a much higher implied future P/E that reflects increased uncertainty around earnings quality. Analyst Commentary Analysts are reassessing Bitfarms with a sharper focus on liquidity, earnings visibility, and how regulatory timing could influence crypto related business models.
CSU
CA$2,963.34
Constellation Software
7D
17.6%
1Y
-40.1%
PNG
CA$8.36
Kraken Robotics
7D
-1.6%
1Y
271.6%
LMN
CA$26.80
Lumine Group
7D
26.2%
1Y
-30.4%
KXS
CA$135.23
Kinaxis
7D
4.4%
1Y
-16.6%
ABXX
CA$39.00
Abaxx Technologies
7D
-7.7%
1Y
249.8%
DSG
CA$97.51
Descartes Systems Group
7D
8.1%
1Y
-32.4%
CVO
CA$5.05
Coveo Solutions
7D
-11.7%
1Y
-10.5%
FTG
CA$19.31
Firan Technology Group
7D
-10.5%
1Y
169.3%

FTG: Lower Discount Rate And Firmer Margins Will Shape Measured Upside Potential

Analysts have raised their CA$17.50 price target on Firan Technology Group to about CA$21.67, citing updated assumptions for revenue growth, profit margins, discount rate and future P/E as key drivers of the higher valuation. What's in the News Firan Technology Group reported that from September 25, 2025 to November 30, 2025, it repurchased 0 shares for CA$0 million under its buyback program.
CLS
CA$339.51
Celestica
7D
-10.4%
1Y
169.9%
DCBO
CA$26.35
Docebo
7D
11.8%
1Y
-41.0%
TOI
CA$109.63
Topicus.com
7D
17.0%
1Y
-25.4%
HIVE
CA$2.80
HIVE Digital Technologies
7D
-4.8%
1Y
-3.4%
QNC
CA$4.51
Quantum eMotion
7D
-8.5%
1Y
627.4%