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Canadian (TSX) Tech Sector Analysis

UpdatedFeb 10, 2026
DataAggregated Company Financials
Companies115
  • 7D0.4%
  • 3M-17.2%
  • 1Y-25.0%
  • YTD-13.9%

Last week, the Tech industry hasn't moved much but Celestica is up 11% in that time. As for the longer term, the industry has declined 25% in the last year. Earnings are forecast to grow by 24% annually.

Sector Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Tue, 10 Feb 2026CA$170.8bCA$61.4bCA$2.9b24.8x58.7x2.8x
Thu, 08 Jan 2026CA$202.9bCA$60.4bCA$2.7b24.5x74.8x3.4x
Sat, 06 Dec 2025CA$209.8bCA$60.4bCA$2.7b27.3x77.1x3.5x
Mon, 03 Nov 2025CA$223.2bCA$59.6bCA$2.9b39.3x76.8x3.7x
Wed, 01 Oct 2025CA$209.4bCA$58.3bCA$2.7b39.3x78.5x3.6x
Fri, 29 Aug 2025CA$220.4bCA$57.9bCA$2.6b41.7x85.4x3.8x
Sun, 27 Jul 2025CA$232.3bCA$55.8bCA$2.4b46.3x96.7x4.2x
Tue, 24 Jun 2025CA$219.9bCA$55.9bCA$2.4b34.4x91.1x3.9x
Thu, 22 May 2025CA$224.6bCA$56.1bCA$3.2b30.2x70.3x4x
Sat, 19 Apr 2025CA$204.0bCA$57.3bCA$2.5b25.2x81.4x3.6x
Mon, 17 Mar 2025CA$206.5bCA$58.7bCA$2.2b23.1x95.4x3.5x
Wed, 12 Feb 2025CA$230.8bCA$57.8b-CA$270,735,427.6621.6x-852.6x4x
Fri, 10 Jan 2025CA$206.8bCA$57.2b-CA$445,181,788.2824.3x-464.5x3.6x
Sun, 08 Dec 2024CA$215.6bCA$56.6b-CA$379,852,975.6025.3x-567.7x3.8x
Tue, 05 Nov 2024CA$194.0bCA$55.2b-CA$297,031,546.3423.4x-653.1x3.5x
Thu, 03 Oct 2024CA$192.7bCA$53.5b-CA$539,820,707.4222.8x-357x3.6x
Sat, 31 Aug 2024CA$187.7bCA$53.4b-CA$574,520,673.7421.9x-326.7x3.5x
Mon, 29 Jul 2024CA$195.5bCA$53.4b-CA$1,372,615,709.4331.8x-142.5x3.7x
Wed, 26 Jun 2024CA$175.0bCA$52.5b-CA$1,388,449,711.9224.8x-126x3.3x
Fri, 24 May 2024CA$176.4bCA$52.7b-CA$1,470,192,827.9729.6x-120x3.3x
Sun, 21 Apr 2024CA$172.5bCA$52.8b-CA$2,407,069,407.1823x-71.7x3.3x
Tue, 19 Mar 2024CA$171.1bCA$52.2b-CA$2,930,048,693.7721.5x-58.4x3.3x
Thu, 15 Feb 2024CA$164.5bCA$51.5b-CA$882,558,424.7120.5x-186.3x3.2x
Sat, 13 Jan 2024CA$164.4bCA$52.0b-CA$2,243,302,329.0021.8x-73.3x3.2x
Mon, 11 Dec 2023CA$158.4bCA$52.5b-CA$2,361,295,523.0022.1x-67.1x3x
Wed, 08 Nov 2023CA$144.1bCA$52.0b-CA$2,738,330,372.0022.7x-52.6x2.8x
Fri, 06 Oct 2023CA$142.7bCA$51.4b-CA$2,585,340,453.0022.9x-55.2x2.8x
Sun, 03 Sep 2023CA$148.8bCA$51.2b-CA$2,613,495,551.0024.3x-56.9x2.9x
Tue, 01 Aug 2023CA$145.9bCA$49.4b-CA$2,444,620,104.0019.8x-59.7x3x
Thu, 29 Jun 2023CA$143.1bCA$48.6b-CA$2,621,532,239.0020.9x-54.6x2.9x
Sat, 27 May 2023CA$141.7bCA$49.3b-CA$2,777,867,077.0024.8x-51x2.9x
Mon, 24 Apr 2023CA$137.7bCA$47.4b-CA$1,929,985,898.0023.3x-71.3x2.9x
Wed, 22 Mar 2023CA$127.9bCA$46.8b-CA$1,216,522,490.0022x-105.1x2.7x
Fri, 17 Feb 2023CA$135.7bCA$47.7b-CA$895,489,577.0024.7x-151.6x2.8x
Price to Earnings Ratio

-151.6x


Total Market Cap: CA$135.7bTotal Earnings: -CA$895,489,577.00Total Revenue: CA$47.7bTotal Market Cap vs Earnings and Revenue0%0%0%
Canadian Tech Sector Price to Earnings3Y Average -120.3x202420252026
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 58.7x which is higher than its 3-year average PE of -120x.
  • 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 8.8% 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 Market2.79%
Tech0.38%
Electronic Equipment and Components9.86%
Tech Hardware0%0
Communications-1.46%
Software-2.30%
Semiconductors-2.33%
IT-7.04%
Industry PE
  • Investors are most optimistic about the Software industry which is trading above its 3-year average PE ratio of 203x.
    • Analysts are expecting annual earnings growth of 24.4%, which is higher than its past year's earnings growth of 12.9% 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
CLS CelesticaCA$432.7611.0%
+CA$4.9b		132.3%PE44x
CSU Constellation SoftwareCA$2.47k7.9%
+CA$3.8b		-49.4%PE56.2x
GIB.A CGICA$109.921.1%
+CA$259.5m		-36.3%PE14.1x
ABXX Abaxx TechnologiesCA$45.0013.4%
+CA$194.3m		345.5%PS2031x
KXS KinaxisCA$126.502.8%
+CA$96.8m		-24.5%PE74x

Latest News

DSG
CA$91.44
Descartes Systems Group
7D
1.1%
1Y
-46.1%
ENGH
CA$17.73
Enghouse Systems
7D
-4.2%
1Y
-37.3%

AI Monetization And M&A Constraints Will Shape A Cautious Long Term Outlook

Catalysts About Enghouse Systems Enghouse Systems provides software and services across contact centers, networks and transportation, with a focus on recurring SaaS and maintenance revenue. What are the underlying business or industry changes driving this perspective?
LSPD
CA$12.38
Lightspeed Commerce
7D
-15.0%
1Y
-35.0%

LSPD: Execution On Product Expansion And Margins Will Drive Long-Term Upside

Analysts have trimmed their price targets on Lightspeed Commerce, leading to a modest reduction in the modeled fair value to about $19.78. This change reflects slightly lower revenue growth assumptions, a higher discount rate, and a lower future P/E, partially offset by improved profit margin expectations.
CLS
CA$432.76
Celestica
7D
11.0%
1Y
132.3%

CLS: Index Inclusions And AI Storage Platform Will Support Future Upside

Analysts have raised their fair value estimate for Celestica from US$555.29 to US$556.49, citing updated assumptions around revenue growth, profit margins, discount rate, and future P/E as the main drivers of the new target. What's in the News Celestica issued earnings guidance for the first quarter of 2026, projecting revenue between US$3.85b and US$4.15b, with growth of 51% at the midpoint (Corporate guidance).
HIVE
CA$3.25
HIVE Digital Technologies
7D
-3.6%
1Y
-20.0%

HIVE Digital Technologies Ltd. (CVE:HIVE) Might Not Be As Mispriced As It Looks After Plunging 35%

Feb 06
HIVE Digital Technologies Ltd. (CVE:HIVE) Might Not Be As Mispriced As It Looks After Plunging 35%
LMN
CA$20.00
Lumine Group
7D
-1.5%
1Y
-48.1%

Lumine Group Inc. (CVE:LMN) Shares May Have Slumped 25% But Getting In Cheap Is Still Unlikely

Feb 06
Lumine Group Inc. (CVE:LMN) Shares May Have Slumped 25% But Getting In Cheap Is Still Unlikely
KXS
CA$126.50
Kinaxis
7D
2.8%
1Y
-24.5%

AI Supply Chain Adoption Will Drive Long Runway For This Cloud Planning Leader

Catalysts About Kinaxis Kinaxis provides cloud based supply chain planning and orchestration software to large enterprises worldwide. What are the underlying business or industry changes driving this perspective?
DGX
CA$3.29
Digi Power X
7D
-13.4%
1Y
-29.2%
GIB.A
CA$109.92
CGI
7D
1.1%
1Y
-36.3%

GIB.A: Future Returns Will Rely On Consistent Execution And Share Repurchases

Analysts have trimmed their price target on CGI to about $151 from $154, reflecting slightly lower assumed profit margins and P/E multiples, even as they factor in modestly higher revenue growth following a mix of target cuts and one increase in recent research updates. Analyst Commentary Recent research on CGI shows a split between analysts who see upside based on execution and those who are more cautious given growth mix and valuation assumptions.
TOI
CA$92.13
Topicus.com
7D
-1.3%
1Y
-33.2%

Risks Still Elevated At These Prices As Topicus.com Inc. (CVE:TOI) Shares Dive 25%

Feb 04
Risks Still Elevated At These Prices As Topicus.com Inc. (CVE:TOI) Shares Dive 25%
CSU
CA$2,470.03
Constellation Software
7D
7.9%
1Y
-49.4%

Constellation Software Inc.'s (TSE:CSU) 29% Cheaper Price Remains In Tune With Earnings

Feb 04
Constellation Software Inc.'s (TSE:CSU) 29% Cheaper Price Remains In Tune With Earnings
BTQ
CA$4.25
BTQ Technologies
7D
7.3%
1Y
26.5%
BB
CA$4.70
BlackBerry
7D
1.3%
1Y
-37.6%
DDD
CA$0.75
Metavista3D
7D
-25.0%
1Y
-57.1%
QNC
CA$4.61
Quantum eMotion
7D
-4.6%
1Y
694.8%
ABXX
CA$45.00
Abaxx Technologies
7D
13.4%
1Y
345.5%