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Canadian (TSX) Tech Sector Analysis

UpdatedMar 22, 2026
DataAggregated Company Financials
Companies116
  • 7D-0.2%
  • 3M-19.2%
  • 1Y-18.6%
  • YTD-17.6%

Over the last 7 days, the Tech industry has remained flat. Unfortunately though, the industry is down 18% over the past 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
Sun, 22 Mar 2026CA$164.8bCA$62.8bCA$2.6b32.1x63.8x2.6x
Tue, 17 Feb 2026CA$160.3bCA$61.6bCA$2.9b25.3x54.9x2.6x
Thu, 15 Jan 2026CA$207.4bCA$60.5bCA$2.7b25.1x76.4x3.4x
Sat, 13 Dec 2025CA$203.3bCA$60.2bCA$2.7b25.7x75x3.4x
Mon, 10 Nov 2025CA$208.4bCA$60.8bCA$2.8b38.8x74.7x3.4x
Wed, 08 Oct 2025CA$213.9bCA$58.4bCA$2.7b38.8x80.2x3.7x
Fri, 05 Sep 2025CA$225.2bCA$58.1bCA$2.7b40.5x84.4x3.9x
Sun, 03 Aug 2025CA$228.3bCA$57.3bCA$2.6b41.6x88.4x4x
Tue, 01 Jul 2025CA$225.7bCA$55.6bCA$2.4b37.6x94.1x4.1x
Thu, 29 May 2025CA$221.5bCA$56.0bCA$2.4b29x90.8x4x
Sat, 26 Apr 2025CA$210.4bCA$55.4bCA$2.7b26.9x78.8x3.8x
Mon, 24 Mar 2025CA$204.6bCA$58.6bCA$2.2b24.1x93.9x3.5x
Wed, 19 Feb 2025CA$230.4bCA$57.5b-CA$239,675,278.2222.7x-961.3x4x
Fri, 17 Jan 2025CA$207.6bCA$57.2b-CA$443,335,386.3823.2x-468.3x3.6x
Sun, 15 Dec 2024CA$215.4bCA$56.8b-CA$405,954,241.1425.1x-530.7x3.8x
Tue, 12 Nov 2024CA$202.2bCA$56.0b-CA$350,841,481.8423.4x-576.2x3.6x
Thu, 10 Oct 2024CA$191.7bCA$54.0b-CA$565,185,135.1322.8x-339.1x3.6x
Sat, 07 Sep 2024CA$183.2bCA$53.6b-CA$615,341,960.2521.2x-297.8x3.4x
Mon, 05 Aug 2024CA$182.2bCA$53.6b-CA$1,306,832,691.0226.8x-139.4x3.4x
Wed, 03 Jul 2024CA$179.6bCA$52.4b-CA$1,455,856,281.0730.5x-123.4x3.4x
Fri, 31 May 2024CA$174.0bCA$52.6b-CA$1,429,758,246.1327.3x-121.7x3.3x
Sun, 28 Apr 2024CA$173.1bCA$53.1b-CA$2,281,393,552.1126.7x-75.9x3.3x
Tue, 26 Mar 2024CA$172.0bCA$52.3b-CA$2,934,970,131.8221x-58.6x3.3x
Thu, 22 Feb 2024CA$168.7bCA$51.4b-CA$892,530,689.7220.1x-189x3.3x
Sat, 20 Jan 2024CA$167.0bCA$52.1b-CA$2,246,949,887.0020.7x-74.3x3.2x
Mon, 18 Dec 2023CA$160.4bCA$52.0b-CA$2,326,903,617.0022.6x-68.9x3.1x
Wed, 15 Nov 2023CA$149.8bCA$52.6b-CA$2,473,265,388.0022.1x-60.6x2.9x
Fri, 13 Oct 2023CA$144.3bCA$51.4b-CA$2,580,565,372.0022.7x-55.9x2.8x
Sun, 10 Sep 2023CA$144.5bCA$51.3b-CA$2,602,026,183.0023.3x-55.5x2.8x
Tue, 08 Aug 2023CA$142.5bCA$50.0b-CA$3,021,822,288.0021x-47.2x2.8x
Thu, 06 Jul 2023CA$144.5bCA$48.9b-CA$2,372,668,842.0020.8x-60.9x3x
Sat, 03 Jun 2023CA$144.2bCA$48.9b-CA$2,647,605,122.0023.1x-54.5x2.9x
Mon, 01 May 2023CA$138.4bCA$48.2b-CA$1,916,714,002.0023.1x-72.2x2.9x
Wed, 29 Mar 2023CA$130.8bCA$46.6b-CA$1,227,718,400.0028.4x-106.5x2.8x
Price to Earnings Ratio

-106.5x


Total Market Cap: CA$130.8bTotal Earnings: -CA$1,227,718,400.00Total Revenue: CA$46.6bTotal Market Cap vs Earnings and Revenue0%0%0%
Canadian Tech Sector Price to Earnings3Y Average -113.4x202420252026
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 64.9x which is higher than its 3-year average PE of -113x.
  • The 3-year average PS ratio of 3.7x is higher than the industry's current PS ratio of 2.7x.
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 Market-3.67%
Tech-0.15%
IT1.38%
Electronic Equipment and Components1.31%
Communications0.036%
Tech Hardware0%0
Software-1.01%
Semiconductors-21.15%
Industry PE
  • Investors are most optimistic about the Communications industry even though it's trading below its 3-year average PE ratio of 238x.
    • Analysts are expecting annual earnings growth of 31.5%, which is higher than its past year's earnings growth of 2.8% per year.
Forecasted Growth
  • Analysts are most optimistic on the Communications industry, expecting annual earnings growth of 31% 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
CLS CelesticaCA$369.271.9%
+CA$805.9m		168.2%PE37.2x
GIB.A CGICA$99.731.4%
+CA$302.0m		-29.6%PE12.8x
ABXX Abaxx TechnologiesCA$38.059.7%
+CA$123.0m		276.4%PS1720.6x
KXS KinaxisCA$137.722.0%
+CA$74.7m		-13.8%PE39.3x
ENGH Enghouse SystemsCA$15.955.0%
+CA$41.4m		-39.7%PE12.6x

Latest News

ENGH
CA$15.95
Enghouse Systems
7D
5.0%
1Y
-39.7%

ENGH: Share Repurchases And Dividend Policy Will Support Future Upside Potential

Enghouse Systems' updated Analyst Price Target has shifted from CA$21.25 to CA$18.13 as analysts factor in lower fair value estimates, along with more cautious assumptions for revenue growth, profit margins and future P/E multiples, as reflected in recent Street target cuts to CA$17, CA$18.50 and CA$20. Analyst Commentary Recent Street commentary on Enghouse Systems centers on lower price targets in a relatively tight range of CA$17 to CA$20, with ratings clustered around Hold, Neutral and Sector Perform.
BTQ
CA$3.29
BTQ Technologies
7D
-18.8%
1Y
20.1%
CLS
CA$369.27
Celestica
7D
1.9%
1Y
168.2%

Celestica Inc. (CLS): The Hyperscale Backbone and "Design-to-Delivery" Expansion

Celestica (CLS) concluded the March 17, 2026, trading session at $386.07 CAD on the Toronto Stock Exchange (TSX), marking a 4.13% daily gain as it continues its historic vertical ascent. On the NYSE, the stock is trading at $281.95 USD.
BLO
CA$0.73
Cannabix Technologies
7D
43.1%
1Y
28.1%
KXS
CA$137.72
Kinaxis
7D
2.0%
1Y
-13.8%
CVO
CA$4.26
Coveo Solutions
7D
-9.7%
1Y
-21.5%

CVO: Future Upside Will Rely On Execution Of Sovereign AI Partnership

Analysts have trimmed their average price target on Coveo Solutions by CA$0.37, reflecting updated views on fair value, discount rates, growth assumptions and margins following recent target reductions from several firms. Analyst Commentary Recent target cuts from several firms point to a more conservative stance on Coveo Solutions, with analysts refining their views on valuation, growth, and execution risk rather than making wholesale changes to their overall thesis.
QNC
CA$3.28
Quantum eMotion
7D
-21.2%
1Y
368.6%
DCBO
CA$26.62
Docebo
7D
2.0%
1Y
-38.3%
SPAI
CA$3.21
Sparc Al
7D
49.3%
1Y
872.7%
PNG
CA$8.93
Kraken Robotics
7D
-5.8%
1Y
242.1%
CSU
CA$2,499.22
Constellation Software
7D
-1.0%
1Y
-46.0%
LMN
CA$23.97
Lumine Group
7D
-4.4%
1Y
-38.3%
GIB.A
CA$99.73
CGI
7D
1.4%
1Y
-29.6%

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.
BB
CA$4.43
BlackBerry
7D
-3.1%
1Y
-28.9%
ABXX
CA$38.05
Abaxx Technologies
7D
9.7%
1Y
276.4%
HIVE
CA$2.78
HIVE Digital Technologies
7D
-5.1%
1Y
18.3%