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Canadian (TSX) Communications Industry Analysis

UpdatedJul 01, 2026
DataAggregated Company Financials
Companies12
  • 7D14.4%
  • 3M11.8%
  • 1Y17.0%
  • YTD26.6%

Over the last 7 days, the Communications industry has remained flat, although notably Nuran Wireless gained 55%. The past year has been better, since the industry has gained 6.5% in that time. Looking forward, earnings are forecast to grow by 36% annually.

Industry Valuation and Performance

Has the Canadian Communications Industry valuation changed over the past few years?

DateMarket CapRevenueEarningsPEAbsolute PEPS
Wed, 01 Jul 2026CA$2.2bCA$1.5b-CA$53,988,101.5424.2x-41.6x1.5x
Fri, 29 May 2026CA$2.2bCA$1.5b-CA$29,729,982.1819.1x-75.5x1.5x
Sun, 26 Apr 2026CA$2.2bCA$1.5b-CA$30,932,699.5620.3x-70.7x1.5x
Tue, 24 Mar 2026CA$2.1bCA$1.5bCA$13.2m19.8x160.5x1.4x
Thu, 19 Feb 2026CA$2.1bCA$1.5bCA$13.4m25x158.7x1.5x
Sat, 17 Jan 2026CA$1.9bCA$1.5bCA$4.9m18.1x385.5x1.3x
Mon, 15 Dec 2025CA$2.0bCA$1.5bCA$4.0m17.2x496.1x1.4x
Wed, 12 Nov 2025CA$1.8bCA$1.5bCA$3.6m16.3x508.2x1.2x
Fri, 10 Oct 2025CA$1.9bCA$1.5bCA$5.1m16.5x368.7x1.3x
Sun, 07 Sep 2025CA$1.8bCA$1.5bCA$22.5m20.3x78.8x1.2x
Tue, 05 Aug 2025CA$1.8bCA$1.5bCA$28.7m16.7x61.4x1.2x
Thu, 03 Jul 2025CA$1.8bCA$1.5bCA$29.4m19.4x61.4x1.2x
Sat, 31 May 2025CA$1.8bCA$1.5bCA$33.1m36.7x53.5x1.2x
Mon, 28 Apr 2025CA$1.7bCA$1.5bCA$43.5m21.9x38x1.1x
Wed, 26 Mar 2025CA$1.7bCA$1.5bCA$46.2m24.5x37.1x1.1x
Fri, 21 Feb 2025CA$1.9bCA$1.5bCA$30.0m25.1x62.6x1.2x
Sun, 19 Jan 2025CA$2.1bCA$1.5bCA$38.6m17.7x54.4x1.4x
Tue, 17 Dec 2024CA$2.1bCA$1.5bCA$39.8m19.1x52.7x1.4x
Thu, 14 Nov 2024CA$2.1bCA$1.5bCA$46.0m23.2x45.5x1.4x
Sat, 12 Oct 2024CA$2.1bCA$1.5bCA$50.4m25.2x41.8x1.4x
Mon, 09 Sep 2024CA$2.2bCA$1.5bCA$22.7m21.2x96.8x1.5x
Wed, 07 Aug 2024CA$2.1bCA$1.5bCA$11.0m21.4x189.6x1.4x
Fri, 05 Jul 2024CA$2.1bCA$1.5bCA$11.9m22.6x173.7x1.4x
Sun, 02 Jun 2024CA$2.3bCA$1.5bCA$14.1m23.4x160.1x1.5x
Tue, 30 Apr 2024CA$2.1bCA$1.5bCA$7.2m22.8x290.1x1.4x
Thu, 28 Mar 2024CA$2.3bCA$1.5bCA$7.2m33x319.5x1.5x
Sat, 24 Feb 2024CA$2.1bCA$1.6bCA$49.8m21.9x42.8x1.3x
Mon, 22 Jan 2024CA$3.7bCA$2.5bCA$9.3m21.2x395.1x1.4x
Wed, 20 Dec 2023CA$3.7bCA$2.5bCA$6.0m23x620.4x1.5x
Fri, 17 Nov 2023CA$3.5bCA$2.5bCA$2.6m21.6x1336.5x1.4x
Sun, 15 Oct 2023CA$3.5bCA$2.5bCA$9.0m24x389.2x1.4x
Tue, 12 Sep 2023CA$3.5bCA$2.5b-CA$100,305,391.0023.8x-35.2x1.4x
Thu, 10 Aug 2023CA$3.6bCA$2.4b-CA$185,438,418.0018.4x-19.5x1.5x
Sat, 08 Jul 2023CA$3.6bCA$2.4b-CA$183,889,042.0018.2x-19.6x1.5x
Price to Earnings Ratio

-19.6x


Total Market Cap: CA$3.6bTotal Earnings: -CA$183,889,042.00Total Revenue: CA$2.4bTotal Market Cap vs Earnings and Revenue0%0%0%
Canadian Communications Industry Price to Earnings3Y Average 234.7x202420252026
Current Industry PE
  • Investors are optimistic on the Canadian Communications industry, and appear confident in long term growth rates.
  • The 3-year average PS ratio of 1.4x is lower than the industry's current PS ratio of 1.5x.
Past Earnings Growth
  • The earnings for companies in the Communications industry have improved over the last three years.
  • Meanwhile revenues for these companies have declined 14% per year.
  • This means that less sales are being generated overall, but since the cost of doing business is lower, losses have been shrinking.

Industry Trends

Which industries have driven the changes within the Canadian Tech industry?

CA Market-0.59%
Tech1.15%
Communications14.37%
Communications Equipment14.37%
Industry PEThere are no additional sub-industries under this industry.
Forecasted GrowthThere are no additional sub-industries under this industry.

Top Stock Gainers and Losers

Which companies have driven the market over the last 7 days?

CompanyLast Price7D1YValuation
ET Evertz TechnologiesCA$19.1017.6%
+CA$216.2m		54.0%PE22.6x
QTRH QuarterhillCA$2.4040.4%
+CA$82.8m		70.2%PS1.3x
NUR Nuran WirelessCA$7.9058.0%
+CA$37.9m		-64.9%PS36.5x
VCM Vecima NetworksCA$13.090.5%
+CA$1.5m		42.0%PS1.1x
DCSI Direct Communication SolutionsCA$1.5050.0%
+CA$1.2m		-50.0%PS0.4x

Latest News

QTRH
CA$2.40
Quarterhill
7D
40.4%
1Y
70.2%
HAI
CA$4.45
Haivision Systems
7D
0.9%
1Y
-11.0%
Narrative Update • Jun 29

HAI: Higher Margins And Lower P/E Will Support Future Upside

Haivision Systems' consensus analyst price target has been reduced by CA$2.50 as analysts adjust their fair value assumptions alongside updated views on revenue growth, profit margins, discount rates and future P/E expectations. What's in the News Haivision Systems reported that from February 1, 2026 to April 30, 2026, it repurchased 0 shares for CAD 0 million under its existing buyback program.
STC
CA$5.41
Sangoma Technologies
7D
-0.2%
1Y
-35.9%
Narrative Update • Jun 26

STC: Share Repurchase And Guidance Revision Will Support Future Upside Potential

Analysts have trimmed their fair value estimate for Sangoma Technologies to about CA$9.92 from roughly CA$11.36, reflecting updated views on discount rates, revenue growth, profit margins, and future P/E assumptions. Analyst Commentary Recent valuation work on Sangoma Technologies reflects a mix of optimism about the company’s ability to execute and caution around the assumptions that feed into fair value, including discount rates, revenue growth, profit margins, and future P/E levels.
ET
CA$19.10
Evertz Technologies
7D
17.6%
1Y
54.0%
Narrative Update • Jun 25

ET: Stable CA$17 View Suggests Dividends Will Continue To Shape Trade-Offs

Analysts have kept their CA$17.25 price target on Evertz Technologies broadly stable. They cite largely unchanged views on fair value, discount rate, revenue growth, profit margin, and future P/E assumptions.
TTZ
CA$0.55
Total Telcom
7D
7.8%
1Y
155.8%
ENA
CA$9.72
Enablence Technologies
7D
-3.9%
1Y
783.6%
CTTT
CA$0.17
Critical Infrastructure Technologies
7D
-5.7%
1Y
230.0%
DCSI
CA$1.50
Direct Communication Solutions
7D
50.0%
1Y
-50.0%
YTY
CA$0.045
Wi2Wi
7D
-10.0%
1Y
80.0%
VCM
CA$13.09
Vecima Networks
7D
0.5%
1Y
42.0%
NUR
CA$7.90
Nuran Wireless
7D
58.0%
1Y
-64.9%
CMI
CA$0.92
C-Com Satellite Systems
7D
-3.2%
1Y
-5.2%