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Canadian (TSX) Tech Sector Analysis

UpdatedMar 10, 2026
DataAggregated Company Financials
Companies116
  • 7D7.9%
  • 3M-15.6%
  • 1Y-14.4%
  • YTD-11.1%

The Tech industry is up 5.3% in the last week, with Constellation Software up 16%. In the same time, Abaxx Technologies was down 11%. However, the industry is down 17% over the past year. Looking forward, earnings are forecast to grow by 23% annually.

Sector Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Tue, 10 Mar 2026CA$174.4bCA$61.7bCA$2.8b37x62.1x2.8x
Thu, 05 Feb 2026CA$166.2bCA$61.7bCA$2.9b28.1x56.8x2.7x
Sat, 03 Jan 2026CA$201.3bCA$60.1bCA$2.7b21.1x74.5x3.4x
Mon, 01 Dec 2025CA$213.9bCA$60.7bCA$2.7b26.7x78.6x3.5x
Wed, 29 Oct 2025CA$224.0bCA$59.4bCA$2.9b39.3x77.1x3.8x
Fri, 26 Sep 2025CA$219.2bCA$58.4bCA$2.7b38.8x82.1x3.8x
Sun, 24 Aug 2025CA$222.7bCA$58.1bCA$2.6b41x85.9x3.8x
Tue, 22 Jul 2025CA$231.1bCA$55.8bCA$2.4b42.4x96.2x4.1x
Thu, 19 Jun 2025CA$218.2bCA$55.8bCA$2.4b34.1x90.5x3.9x
Sat, 17 May 2025CA$223.7bCA$56.4bCA$3.2b29.4x69.8x4x
Mon, 14 Apr 2025CA$197.7bCA$57.4bCA$2.5b24x79.3x3.4x
Wed, 12 Mar 2025CA$207.6bCA$59.0bCA$2.2b22.4x95.9x3.5x
Fri, 07 Feb 2025CA$231.4bCA$57.8b-CA$290,037,599.0521.8x-797.8x4x
Sun, 05 Jan 2025CA$210.4bCA$57.3b-CA$451,793,942.0124.7x-465.7x3.7x
Tue, 03 Dec 2024CA$213.7bCA$56.3b-CA$383,062,580.7825.7x-557.9x3.8x
Thu, 31 Oct 2024CA$196.5bCA$55.0b-CA$578,299,131.8023.6x-339.8x3.6x
Sat, 28 Sep 2024CA$194.5bCA$53.5b-CA$542,127,089.5422.1x-358.7x3.6x
Mon, 26 Aug 2024CA$189.5bCA$53.6b-CA$606,975,060.8622.1x-312.3x3.5x
Wed, 24 Jul 2024CA$190.7bCA$52.6b-CA$1,426,388,231.0931.2x-133.7x3.6x
Fri, 21 Jun 2024CA$174.6bCA$52.6b-CA$1,385,767,320.1526.7x-126x3.3x
Sun, 19 May 2024CA$175.4bCA$52.4b-CA$1,456,221,464.5630.2x-120.4x3.3x
Tue, 16 Apr 2024CA$173.5bCA$52.8b-CA$2,419,940,898.8521.6x-71.7x3.3x
Thu, 14 Mar 2024CA$174.1bCA$52.1b-CA$2,872,228,420.3121.9x-60.6x3.3x
Sat, 10 Feb 2024CA$168.3bCA$51.2b-CA$993,985,406.8918.8x-169.3x3.3x
Mon, 08 Jan 2024CA$156.1bCA$51.9b-CA$2,232,863,118.0021.2x-69.9x3x
Wed, 06 Dec 2023CA$156.5bCA$52.5b-CA$2,543,512,505.0022.2x-61.5x3x
Fri, 03 Nov 2023CA$140.8bCA$51.7b-CA$2,478,856,207.0023.3x-56.8x2.7x
Sun, 01 Oct 2023CA$142.1bCA$51.1b-CA$2,554,978,378.0023.6x-55.6x2.8x
Tue, 29 Aug 2023CA$144.1bCA$51.2b-CA$2,681,741,981.0024x-53.7x2.8x
Thu, 27 Jul 2023CA$142.9bCA$49.1b-CA$2,467,869,099.0019.9x-57.9x2.9x
Sat, 24 Jun 2023CA$139.3bCA$48.5b-CA$2,606,483,602.0020.5x-53.4x2.9x
Mon, 22 May 2023CA$142.8bCA$48.9b-CA$1,867,410,782.0024.3x-76.5x2.9x
Wed, 19 Apr 2023CA$136.2bCA$46.8b-CA$1,942,921,688.0023.5x-70.1x2.9x
Fri, 17 Mar 2023CA$135.0bCA$48.1b-CA$1,164,892,564.0022.8x-115.9x2.8x
Price to Earnings Ratio

-115.9x


Total Market Cap: CA$135.0bTotal Earnings: -CA$1,164,892,564.00Total Revenue: CA$48.1bTotal Market Cap vs Earnings and Revenue0%0%0%
Canadian Tech Sector Price to Earnings3Y Average -115.4x202420252026
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 61.9x which is higher than its 3-year average PE of -115x.
  • 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 8.6% 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-4.27%
Tech7.94%
Software13.09%
IT3.88%
Communications0.11%
Tech Hardware0%0
Electronic Equipment and Components-0.50%
Semiconductors-1.74%
Industry PE
  • Investors are most optimistic about the Software industry which is trading above its 3-year average PE ratio of 176x.
    • Analysts are expecting annual earnings growth of 22.3%, which is higher than its past year's earnings growth of 17.0% 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
CSU Constellation SoftwareCA$2.98k15.9%
+CA$8.7b		-38.0%PE67.6x
TOI Topicus.comCA$111.0618.0%
+CA$1.4b		-21.6%PE140.4x
LMN Lumine GroupCA$26.0524.8%
+CA$1.3b		-33.5%PE41.4x
GIB.A CGICA$102.943.9%
+CA$825.3m		-31.7%PE13.2x
DSG Descartes Systems GroupCA$98.186.6%
+CA$519.4m		-29.5%PE40x

Latest News

PNG
CA$9.17
Kraken Robotics
7D
-0.9%
1Y
324.5%
BITF
CA$2.86
Bitfarms
7D
-3.1%
1Y
76.5%
TCS
CA$29.66
Tecsys
7D
17.5%
1Y
-24.7%
GIB.A
CA$102.94
CGI
7D
3.9%
1Y
-31.7%

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.
LSPD
CA$13.06
Lightspeed Commerce
7D
3.3%
1Y
-17.2%

LSPD: Sector Reset And AI Investments Will Shape Balanced Risk Reward

The consensus analyst price target for Lightspeed Commerce has been reduced by CA$1.86. Analysts are incorporating slightly lower fair value estimates, a modestly higher discount rate, and more cautious revenue growth assumptions.
CSU
CA$2,975.00
Constellation Software
7D
15.9%
1Y
-38.0%
LMN
CA$26.05
Lumine Group
7D
24.8%
1Y
-33.5%
KXS
CA$143.64
Kinaxis
7D
11.3%
1Y
-10.7%
ABXX
CA$38.18
Abaxx Technologies
7D
-11.2%
1Y
251.9%
DSG
CA$98.18
Descartes Systems Group
7D
6.6%
1Y
-29.5%
CVO
CA$5.00
Coveo Solutions
7D
-10.4%
1Y
-5.1%
FTG
CA$19.65
Firan Technology Group
7D
-5.9%
1Y
179.5%

FTG: Lower Discount Rate And Firmer Margins Will Shape Measured Upside Potential

Analysts have raised their CA$17.50 price target on Firan Technology Group to about CA$21.67, citing updated assumptions for revenue growth, profit margins, discount rate and future P/E as key drivers of the higher valuation. What's in the News Firan Technology Group reported that from September 25, 2025 to November 30, 2025, it repurchased 0 shares for CA$0 million under its buyback program.
CLS
CA$363.51
Celestica
7D
-0.4%
1Y
210.2%
TOI
CA$111.06
Topicus.com
7D
18.0%
1Y
-21.6%
HIVE
CA$2.81
HIVE Digital Technologies
7D
-6.6%
1Y
13.3%
BTQ
CA$4.22
BTQ Technologies
7D
-4.5%
1Y
57.5%