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Canadian (TSX) Tech Sector Analysis

UpdatedMar 30, 2026
DataAggregated Company Financials
Companies115
  • 7D-1.8%
  • 3M-20.6%
  • 1Y-18.4%
  • YTD-19.1%

Over the last 7 days, the Tech industry has dropped 1.8%, driven by a pullback from Constellation Software of 7.1%. Meanwhile, Abaxx Technologies actually outperformed within the industry, gaining 24% in the last week. Overall the industry is down 18% in 12 months. 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, 31 Mar 2026CA$161.7bCA$63.3bCA$2.5b33.2x64x2.6x
Thu, 26 Feb 2026CA$163.1bCA$61.8bCA$2.7b35.7x60.4x2.6x
Sat, 24 Jan 2026CA$184.7bCA$60.0bCA$2.7b27.4x68.1x3.1x
Mon, 22 Dec 2025CA$204.0bCA$60.3bCA$2.7b24.5x75.1x3.4x
Wed, 19 Nov 2025CA$198.2bCA$60.7bCA$2.8b23.2x71x3.3x
Fri, 17 Oct 2025CA$221.6bCA$58.7bCA$2.7b39.3x83x3.8x
Sun, 14 Sep 2025CA$225.9bCA$58.2bCA$2.7b39.5x84.6x3.9x
Tue, 12 Aug 2025CA$227.2bCA$57.8bCA$2.5b43.8x90.1x3.9x
Thu, 10 Jul 2025CA$228.5bCA$55.8bCA$2.4b39.2x94.9x4.1x
Sat, 07 Jun 2025CA$219.3bCA$55.7bCA$2.4b33.8x91.3x3.9x
Mon, 05 May 2025CA$215.1bCA$55.5bCA$3.1b26.6x68.7x3.9x
Wed, 02 Apr 2025CA$200.1bCA$58.6bCA$2.3b21.4x87.9x3.4x
Fri, 28 Feb 2025CA$221.7bCA$58.3b-CA$283,389,306.5625.1x-782.4x3.8x
Sun, 26 Jan 2025CA$219.0bCA$57.1b-CA$433,871,228.8223.2x-504.8x3.8x
Tue, 24 Dec 2024CA$208.2bCA$57.2b-CA$446,284,119.3025.8x-466.5x3.6x
Thu, 21 Nov 2024CA$203.9bCA$56.1b-CA$376,657,099.7222.8x-541.3x3.6x
Sat, 19 Oct 2024CA$196.5bCA$54.2b-CA$578,076,303.8824.5x-339.9x3.6x
Mon, 16 Sep 2024CA$189.3bCA$53.7b-CA$619,422,827.0922.7x-305.6x3.5x
Wed, 14 Aug 2024CA$178.8bCA$54.0b-CA$601,433,754.1522.1x-297.3x3.3x
Fri, 12 Jul 2024CA$184.9bCA$52.3b-CA$1,386,982,154.7531.4x-133.3x3.5x
Sun, 09 Jun 2024CA$176.3bCA$52.8b-CA$1,428,541,532.5826.7x-123.4x3.3x
Tue, 07 May 2024CA$176.3bCA$53.0b-CA$1,555,776,440.4924.4x-113.3x3.3x
Thu, 04 Apr 2024CA$174.5bCA$52.2b-CA$2,928,115,106.2122.7x-59.6x3.3x
Sat, 02 Mar 2024CA$172.4bCA$51.5b-CA$889,054,491.1920.2x-193.9x3.3x
Mon, 29 Jan 2024CA$170.8bCA$52.1b-CA$2,246,396,043.0020.2x-76x3.3x
Wed, 27 Dec 2023CA$159.2bCA$51.8b-CA$2,304,900,322.0020.9x-69.1x3.1x
Fri, 24 Nov 2023CA$153.3bCA$52.7b-CA$2,478,635,039.0022.7x-61.8x2.9x
Sun, 22 Oct 2023CA$140.5bCA$51.4b-CA$2,581,319,039.0022.4x-54.4x2.7x
Tue, 19 Sep 2023CA$146.3bCA$51.0b-CA$2,641,510,106.0024.7x-55.4x2.9x
Thu, 17 Aug 2023CA$142.5bCA$51.1b-CA$2,661,645,552.0021.3x-53.5x2.8x
Sat, 15 Jul 2023CA$145.1bCA$48.8b-CA$2,347,647,934.0021.6x-61.8x3x
Mon, 12 Jun 2023CA$141.2bCA$48.8b-CA$2,629,384,065.0022.6x-53.7x2.9x
Wed, 10 May 2023CA$138.8bCA$47.9b-CA$1,922,926,719.0024.8x-72.2x2.9x
Fri, 07 Apr 2023CA$135.2bCA$46.9b-CA$1,978,451,703.0027x-68.3x2.9x
Price to Earnings Ratio

-68.3x


Total Market Cap: CA$135.2bTotal Earnings: -CA$1,978,451,703.00Total Revenue: CA$46.9bTotal Market Cap vs Earnings and Revenue0%0%0%
Canadian Tech Sector Price to Earnings3Y Average -112x202420252026
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 64.0x which is higher than its 3-year average PE of -112x.
  • The 3-year average PS ratio of 3.7x is higher than the industry's current PS ratio of 2.6x.
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 11% 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 Market2.28%
Tech-1.83%
Electronic Equipment and Components4.33%
Tech Hardware0%0
Communications-0.45%
IT-0.97%
Software-5.05%
Semiconductors-12.80%
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 29.7%, which is lower than the prior year's growth of 84.7% per year.
Forecasted Growth
  • Analysts are most optimistic on the Communications industry, expecting annual earnings growth of 34% 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
ABXX Abaxx TechnologiesCA$45.2411.6%
+CA$173.0m		358.8%PS3137.5x
CMG Computer Modelling GroupCA$4.1513.4%
+CA$39.5m		-48.5%PE19.5x
ENA Enablence TechnologiesCA$3.2340.4%
+CA$19.5m		115.3%PS7.7x
IMP Intermap TechnologiesCA$1.6014.3%
+CA$14.5m		-15.8%PS5.1x
MHUB Minehub TechnologiesCA$0.6425.5%
+CA$13.2m		14.3%n/a

Latest News

PNG
CA$7.53
Kraken Robotics
7D
-18.3%
1Y
209.9%
ABXX
CA$45.24
Abaxx Technologies
7D
11.6%
1Y
358.8%
CSU
CA$2,386.77
Constellation Software
7D
-6.0%
1Y
-47.6%
DSG
CA$98.84
Descartes Systems Group
7D
-1.8%
1Y
-31.8%

DSG: AI Logistics Execution And Organic Reacceleration Will Drive Future Upside

Analysts have trimmed Street price targets for Descartes Systems Group, with several reductions in the CA$82 to CA$105 range, as they factor in peer multiple compression while also highlighting steady EBITDA growth targets, organic growth acceleration and renewed interest following a stronger Q4 print. Analyst Commentary Recent research updates on Descartes Systems Group combine lower price targets with relatively constructive views on execution, profitability and growth.
QTRH
CA$1.14
Quarterhill
7D
8.6%
1Y
-22.4%

Quarterhill Inc. (TSE:QTRH) Just Reported And Analysts Have Been Lifting Their Price Targets

Mar 26
Quarterhill Inc. (TSE:QTRH) Just Reported And Analysts Have Been Lifting Their Price Targets
MHUB
CA$0.64
Minehub Technologies
7D
25.5%
1Y
14.3%
CMG
CA$4.15
Computer Modelling Group
7D
13.4%
1Y
-48.5%
CLS
CA$358.37
Celestica
7D
-9.0%
1Y
215.7%

CLS: AI Platform Collaboration And 2026 Outlook Will Support Further Upside

Analysts have made a modest adjustment to their CA$ price target on Celestica, reflecting an updated view of inputs such as discount rate, revenue growth, profit margin, and future P/E assumptions that remain broadly consistent with prior estimates. What's in the News Celestica and AMD agreed to collaborate on the Helios rack-scale AI platform, pairing AMD compute with Celestica’s networking switch design and manufacturing for Open Compute Project, Open-Rack-Wide systems targeting large AI clusters, with initial availability planned for late 2026 (Key Developments).
IMP
CA$1.60
Intermap Technologies
7D
14.3%
1Y
-15.8%
BITF
CA$2.56
Bitfarms
7D
-19.7%
1Y
126.5%

BITF: Liquidity Management Will Drive Upside As U.S. Crypto Rules Develop

Analysts now place their average Bitfarms price target at CA$6.99, a level similar to prior estimates. They factor liquidity concerns and uncertainty around crypto market structure legislation into their valuation framework.
ET
CA$16.29
Evertz Technologies
7D
0.6%
1Y
58.3%

ET: Higher CA$17 Range And Dividend Payouts Will Shape Balanced Outlook

Analysts have lifted the fair value estimate for Evertz Technologies to CA$17.25 from CA$14.88, aligning with recent Street target hikes toward CA$16 to CA$17.50 that are grounded in updated views on discount rates, profit margins, and future P/E assumptions. Analyst Commentary Recent Street research has clustered around higher fair value marks for Evertz Technologies, with price targets now ranging from CA$16 to CA$17.50.
LMN
CA$22.08
Lumine Group
7D
-5.2%
1Y
-45.5%
TOI
CA$93.85
Topicus.com
7D
-4.5%
1Y
-33.5%
ENA
CA$3.23
Enablence Technologies
7D
40.4%
1Y
115.3%
HIVE
CA$2.44
HIVE Digital Technologies
7D
-15.9%
1Y
16.2%
XTAO.U
US$0.76
xTAO
7D
68.9%
1Y
n/a