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Canadian (TSX) Tech Sector Analysis

UpdatedApr 13, 2026
DataAggregated Company Financials
Companies115
  • 7D1.8%
  • 3M-17.0%
  • 1Y-12.5%
  • YTD-14.2%

In the last week, the Tech industry is up 1.8%, with Celestica up 20%. In the same time, Constellation Software was down 6.0%. In contrast, the industry has lost 12% in the last 12 months. As for the next few years, earnings are expected to grow by 25% per annum.

Sector Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Mon, 13 Apr 2026CA$175.8bCA$62.8bCA$2.5b33.1x69.2x2.8x
Wed, 11 Mar 2026CA$177.8bCA$62.3bCA$2.6b37.2x69.2x2.9x
Fri, 06 Feb 2026CA$167.1bCA$61.8bCA$2.9b26.8x57.1x2.7x
Sun, 04 Jan 2026CA$200.2bCA$60.1bCA$2.7b24.3x74.1x3.3x
Tue, 02 Dec 2025CA$213.9bCA$60.8bCA$2.7b26.2x78.5x3.5x
Thu, 30 Oct 2025CA$225.0bCA$59.4bCA$2.9b39.3x77.3x3.8x
Sat, 27 Sep 2025CA$212.1bCA$58.4bCA$2.7b38.8x79.5x3.6x
Mon, 25 Aug 2025CA$222.7bCA$58.1bCA$2.6b41x85.9x3.8x
Wed, 23 Jul 2025CA$230.0bCA$55.6bCA$2.4b41.9x95.9x4.1x
Fri, 20 Jun 2025CA$220.7bCA$55.8bCA$2.4b34.1x91.5x4x
Sun, 18 May 2025CA$225.2bCA$56.4bCA$3.2b29.4x70.3x4x
Tue, 15 Apr 2025CA$197.6bCA$57.3bCA$2.5b22.8x79.3x3.4x
Thu, 13 Mar 2025CA$206.3bCA$58.7bCA$2.2b22.8x94.8x3.5x
Sat, 08 Feb 2025CA$229.6bCA$57.7b-CA$288,026,328.7321.8x-797.3x4x
Mon, 06 Jan 2025CA$210.4bCA$57.3b-CA$451,793,942.0124.7x-465.7x3.7x
Wed, 04 Dec 2024CA$214.4bCA$56.4b-CA$386,282,491.6825.1x-555x3.8x
Fri, 01 Nov 2024CA$196.6bCA$55.1b-CA$581,618,829.9923.6x-338x3.6x
Sun, 29 Sep 2024CA$191.1bCA$53.5b-CA$541,836,049.9722.1x-352.8x3.6x
Tue, 27 Aug 2024CA$189.5bCA$53.5b-CA$604,169,796.8021.9x-313.7x3.5x
Thu, 25 Jul 2024CA$192.1bCA$52.7b-CA$1,430,567,844.8030.6x-134.3x3.6x
Sat, 22 Jun 2024CA$173.5bCA$52.6b-CA$1,383,324,083.9824.8x-125.4x3.3x
Mon, 20 May 2024CA$175.4bCA$52.4b-CA$1,456,221,464.5630.2x-120.4x3.3x
Wed, 17 Apr 2024CA$171.7bCA$52.9b-CA$2,428,247,749.4922.2x-70.7x3.2x
Fri, 15 Mar 2024CA$174.2bCA$52.3b-CA$2,887,591,972.0921.7x-60.3x3.3x
Sun, 11 Feb 2024CA$168.3bCA$51.2b-CA$993,982,923.3118.8x-169.3x3.3x
Tue, 09 Jan 2024CA$156.1bCA$51.9b-CA$2,230,348,058.0021.9x-70x3x
Thu, 07 Dec 2023CA$157.0bCA$52.5b-CA$2,513,182,385.0021.6x-62.5x3x
Sat, 04 Nov 2023CA$144.4bCA$51.8b-CA$2,713,962,383.0022.7x-53.2x2.8x
Mon, 02 Oct 2023CA$142.1bCA$51.1b-CA$2,554,978,378.0023.6x-55.6x2.8x
Wed, 30 Aug 2023CA$146.2bCA$51.2b-CA$2,674,007,148.0023.8x-54.7x2.9x
Fri, 28 Jul 2023CA$143.1bCA$49.4b-CA$2,440,261,473.0019.9x-58.6x2.9x
Sun, 25 Jun 2023CA$139.3bCA$48.5b-CA$2,606,482,614.0020.5x-53.4x2.9x
Tue, 23 May 2023CA$142.8bCA$48.9b-CA$1,867,395,899.0024.3x-76.5x2.9x
Thu, 20 Apr 2023CA$135.9bCA$46.9b-CA$1,954,692,210.0023.3x-69.5x2.9x
Price to Earnings Ratio

-69.5x


Total Market Cap: CA$135.9bTotal Earnings: -CA$1,954,692,210.00Total Revenue: CA$46.9bTotal Market Cap vs Earnings and Revenue0%0%0%
Canadian Tech Sector Price to Earnings3Y Average -110.3x202420252026
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 69.2x 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 Market1.88%
Tech1.81%
Electronic Equipment and Components17.92%
Semiconductors5.57%
Tech Hardware0%0
Communications-0.57%
Software-5.44%
IT-5.70%
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$486.2819.6%
+CA$9.2b		333.2%PE48.5x
XNDU Xanadu Quantum TechnologiesCA$12.448.0%
+CA$274.6m		n/aPS776x
BB BlackBerryCA$5.307.1%
+CA$194.5m		18.8%PE42.3x
BLN Blackline SafetyCA$8.9224.4%
+CA$152.3m		33.5%PS5.1x
ABXX Abaxx TechnologiesCA$56.605.8%
+CA$113.8m		536.7%PS1989.4x

Latest News

DCBO
CA$20.36
Docebo
7D
-15.9%
1Y
-50.4%
DSG
CA$87.31
Descartes Systems Group
7D
-11.5%
1Y
-38.1%

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.
KXS
CA$134.02
Kinaxis
7D
-5.9%
1Y
-19.4%

KXS: AI Supply Chain Acceleration And Agent Workflows Will Support Future Upside

Analysts have trimmed their price targets on Kinaxis to CA$200. This reflects updated assumptions around discount rates and long term P/E levels, while maintaining a constructive view on the stock.
BB
CA$5.30
BlackBerry
7D
7.1%
1Y
18.8%
CLS
CA$486.28
Celestica
7D
19.6%
1Y
333.2%
GRID
CA$5.85
Tantalus Systems Holding
7D
15.8%
1Y
204.7%

GRID: Future Upside Will Be Led By New Coverage And Grid Modernization

Analysts have inched their average price target for Tantalus Systems higher to CA$7.06 from CA$6.97, citing fresh coverage with an Outperform rating and a CA$7.00 target, along with ongoing refinement of fair value and P/E assumptions. Analyst Commentary Bullish Takeaways Bullish analysts point to the fresh Outperform rating as a signal of confidence that Tantalus Systems can execute on its business plan well enough to support the current CA$7.06 average price target.
BLN
CA$8.92
Blackline Safety
7D
24.4%
1Y
33.5%
PNG
CA$8.16
Kraken Robotics
7D
-5.6%
1Y
240.0%
CSU
CA$2,295.18
Constellation Software
7D
-6.0%
1Y
-49.7%

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?
GIB.A
CA$96.51
CGI
7D
-5.7%
1Y
-32.5%

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.
ABXX
CA$56.60
Abaxx Technologies
7D
5.8%
1Y
536.7%
XNDU
CA$12.44
Xanadu Quantum Technologies
7D
8.0%
1Y
n/a
QNC
CA$3.41
Quantum eMotion
7D
5.6%
1Y
498.2%
LMN
CA$21.60
Lumine Group
7D
-6.9%
1Y
-45.2%
TOI
CA$91.51
Topicus.com
7D
-6.1%
1Y
-39.6%
HIVE
CA$2.90
HIVE Digital Technologies
7D
6.2%
1Y
39.4%