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

Canadian (TSX) Tech Sector Analysis

UpdatedJan 31, 2026
DataAggregated Company Financials
Companies114
  • 7D-8.1%
  • 3M-23.3%
  • 1Y-21.9%
  • YTD-13.7%

Over the last 7 days, the Tech industry has dropped 8.1%, driven by Constellation Software declining 9.6%. The industry has fallen 22% in the last year. Looking forward, 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, 01 Feb 2026CA$175.9bCA$61.6bCA$2.9b25.7x61.2x2.9x
Tue, 30 Dec 2025CA$204.2bCA$60.0bCA$2.7b22.5x75.4x3.4x
Thu, 27 Nov 2025CA$210.6bCA$60.9bCA$2.7b22.2x77.4x3.5x
Sat, 25 Oct 2025CA$216.6bCA$58.5bCA$2.7b39.3x81.3x3.7x
Mon, 22 Sep 2025CA$228.5bCA$58.0bCA$2.7b39.6x85.6x3.9x
Wed, 20 Aug 2025CA$218.2bCA$58.2bCA$2.6b40.6x84x3.8x
Fri, 18 Jul 2025CA$229.8bCA$55.9bCA$2.4b39.4x95.5x4.1x
Sun, 15 Jun 2025CA$216.9bCA$55.5bCA$2.4b33.7x90.2x3.9x
Tue, 13 May 2025CA$219.7bCA$56.0bCA$3.2b27.6x68x3.9x
Thu, 10 Apr 2025CA$187.8bCA$57.9bCA$2.5b22.8x74.9x3.2x
Sat, 08 Mar 2025CA$209.9bCA$58.3bCA$2.0b22.5x107.6x3.6x
Mon, 03 Feb 2025CA$224.0bCA$58.3b-CA$337,105,034.3822.1x-664.6x3.8x
Wed, 01 Jan 2025CA$208.7bCA$57.2b-CA$444,623,276.5425.3x-469.3x3.6x
Fri, 29 Nov 2024CA$212.2bCA$56.3b-CA$388,023,994.9826.2x-547x3.8x
Sun, 27 Oct 2024CA$193.7bCA$55.0b-CA$574,107,204.6624.1x-337.4x3.5x
Tue, 24 Sep 2024CA$191.5bCA$53.6b-CA$580,473,685.6123x-330x3.6x
Thu, 22 Aug 2024CA$187.8bCA$53.7b-CA$582,320,604.2622.1x-322.5x3.5x
Sat, 20 Jul 2024CA$187.4bCA$52.5b-CA$1,416,509,864.0331.6x-132.3x3.6x
Mon, 17 Jun 2024CA$175.8bCA$52.7b-CA$1,391,174,741.7328.1x-126.3x3.3x
Wed, 15 May 2024CA$173.1bCA$52.4b-CA$1,554,461,416.8530x-111.3x3.3x
Fri, 12 Apr 2024CA$174.8bCA$52.6b-CA$2,384,284,249.7521.2x-73.3x3.3x
Sun, 10 Mar 2024CA$174.6bCA$52.2b-CA$2,876,007,458.0821.5x-60.7x3.3x
Tue, 06 Feb 2024CA$166.1bCA$51.3b-CA$2,062,483,905.8419.6x-80.5x3.2x
Thu, 04 Jan 2024CA$155.6bCA$51.9b-CA$2,231,561,921.0021.3x-69.7x3x
Sat, 02 Dec 2023CA$152.9bCA$52.1b-CA$2,434,124,178.0022.6x-62.8x2.9x
Mon, 30 Oct 2023CA$134.7bCA$51.9b-CA$2,571,513,519.0022.4x-52.4x2.6x
Wed, 27 Sep 2023CA$139.6bCA$51.1b-CA$2,647,156,527.0024.3x-52.7x2.7x
Fri, 25 Aug 2023CA$142.8bCA$51.2b-CA$2,680,418,882.0024.2x-53.3x2.8x
Sun, 23 Jul 2023CA$145.3bCA$48.8b-CA$2,521,691,617.0020.5x-57.6x3x
Tue, 20 Jun 2023CA$141.8bCA$48.5b-CA$2,611,089,661.0021.2x-54.3x2.9x
Thu, 18 May 2023CA$139.9bCA$48.8b-CA$1,895,361,124.0022.9x-73.8x2.9x
Sat, 15 Apr 2023CA$138.4bCA$46.7b-CA$1,935,827,043.0026.7x-71.5x3x
Mon, 13 Mar 2023CA$132.4bCA$48.5b-CA$1,188,945,464.0022.8x-111.4x2.7x
Wed, 08 Feb 2023CA$135.6bCA$47.6b-CA$913,204,224.0024.2x-148.5x2.9x
Price to Earnings Ratio

-148.5x


Total Market Cap: CA$135.6bTotal Earnings: -CA$913,204,224.00Total Revenue: CA$47.6bTotal Market Cap vs Earnings and Revenue0%0%0%
Canadian Tech Sector Price to Earnings3Y Average -121.1x202420252026
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 61.2x which is higher than its 3-year average PE of -121x.
  • The 3-year average PS ratio of 3.7x is higher than the industry's current PS ratio of 2.9x.
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 9.0% 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-3.80%
Tech-8.11%
Communications2.01%
Tech Hardware0%0
IT-4.55%
Electronic Equipment and Components-7.48%
Semiconductors-9.27%
Software-9.46%
Industry PE
  • Investors are most optimistic about the Software industry which is trading above its 3-year average PE ratio of 196x.
    • Analysts are expecting annual earnings growth of 24.8%, 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 30% 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 9.2% 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
DCBO DoceboCA$26.634.5%
+CA$32.8m		-56.2%PE24.9x
HAI Haivision SystemsCA$8.4112.3%
+CA$25.0m		66.5%PE1994.9x
ET Evertz TechnologiesCA$14.462.2%
+CA$23.4m		11.2%PE17x
GRID Tantalus Systems HoldingCA$5.767.7%
+CA$21.2m		206.4%PS4.2x
URAI Inturai VenturesCA$0.3941.8%
+CA$12.8m		420.0%n/a

Latest News

CLS
CA$382.63
Celestica
7D
-7.9%
1Y
113.2%
GIB.A
CA$116.70
CGI
7D
-4.6%
1Y
-31.9%
KXS
CA$137.50
Kinaxis
7D
-7.8%
1Y
-17.8%

KXS: Share Buybacks And New CEO Will Support Future Upside

Analysts have trimmed their fair value estimate for Kinaxis from about $227.33 to $219.45 as they factor in updated assumptions around discount rates, revenue growth, profit margins, and a lower projected future P/E multiple. What's in the News Kinaxis appointed Razat Gaurav as Chief Executive Officer effective January 12, 2026.
HAI
CA$8.41
Haivision Systems
7D
12.3%
1Y
66.5%

HAI: Fair Value View Will Rely On 2026 Guidance Execution

Analysts have lifted their price target on Haivision Systems from $7.63 to $8.13, citing updated views on fair value, discount rate, revenue growth, profit margin and future P/E assumptions reflected in recent research. Analyst Commentary Bullish Takeaways Bullish analysts see the higher price target as better aligned with their refreshed view of fair value, given updated assumptions on revenue growth and profit margins.
DSG
CA$101.69
Descartes Systems Group
7D
-9.1%
1Y
-39.6%
DCBO
CA$26.63
Docebo
7D
4.5%
1Y
-56.2%
DDD
CA$1.05
Metavista3D
7D
10.5%
1Y
-52.3%
LMN
CA$22.43
Lumine Group
7D
-8.8%
1Y
-41.8%
GRID
CA$5.76
Tantalus Systems Holding
7D
7.7%
1Y
206.4%
ALYA
CA$1.77
Alithya Group
7D
6.0%
1Y
6.6%
BITF
CA$3.16
Bitfarms
7D
-16.4%
1Y
49.1%

BITF: Delayed Market Structure Rules Will Support Future AI And HPC Expansion

Analysts have reduced their Bitfarms price target to about US$8.48, reflecting slightly higher assumed discount rates and a marginally richer forward P/E multiple as they factor in ongoing uncertainty around potential delays in crypto related market structure legislation. Analyst Commentary Bullish Takeaways Bullish analysts see the updated US$8.48 target as still reflecting upside potential if crypto related legislation eventually provides clearer market structure, which could support higher sustained earnings to justify a richer P/E multiple.
CSU
CA$2,512.96
Constellation Software
7D
-9.6%
1Y
-47.1%
TOI
CA$101.00
Topicus.com
7D
-9.2%
1Y
-25.9%

Some Investors May Be Worried About Topicus.com's (CVE:TOI) Returns On Capital

Dec 20
Some Investors May Be Worried About Topicus.com's (CVE:TOI) Returns On Capital
VCM
CA$10.09
Vecima Networks
7D
2.5%
1Y
-27.4%
ET
CA$14.46
Evertz Technologies
7D
2.2%
1Y
11.2%
URAI
CA$0.39
Inturai Ventures
7D
41.8%
1Y
420.0%