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Canadian (TSX) IT Industry Analysis

UpdatedMar 25, 2026
DataAggregated Company Financials
Companies9
  • 7D0.4%
  • 3M-22.8%
  • 1Y-31.4%
  • YTD-20.9%

The IT industry is up 2.8% in the last week, with CGI up 2.8%. In the same time, Integrated Cyber Solutions was down 17%. In contrast, the industry has lost 29% in the last 12 months. Looking forward, earnings are forecast to grow by 9.1% annually.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Wed, 25 Mar 2026CA$21.9bCA$16.8bCA$1.6b12.7x13.4x1.3x
Fri, 20 Feb 2026CA$21.8bCA$16.8bCA$1.6b12.9x13.3x1.3x
Sun, 18 Jan 2026CA$27.6bCA$16.5bCA$1.6b13.6x16.9x1.7x
Tue, 16 Dec 2025CA$27.3bCA$16.5bCA$1.6b13.2x16.7x1.7x
Thu, 13 Nov 2025CA$26.6bCA$16.5bCA$1.7b16x16.1x1.6x
Sat, 11 Oct 2025CA$28.3bCA$16.1bCA$1.7b16x16.5x1.8x
Mon, 08 Sep 2025CA$29.8bCA$16.1bCA$1.7b17.3x17.4x1.8x
Wed, 06 Aug 2025CA$29.4bCA$16.1bCA$1.7b55.7x17.3x1.8x
Fri, 04 Jul 2025CA$32.1bCA$15.7bCA$1.7b45.7x18.6x2x
Sun, 01 Jun 2025CA$33.0bCA$15.7bCA$1.7b14.6x19.2x2.1x
Tue, 29 Apr 2025CA$33.0bCA$15.4bCA$1.7b10.4x19.2x2.1x
Thu, 27 Mar 2025CA$33.7bCA$18.0bCA$1.5b10.2x21.9x1.9x
Sat, 22 Feb 2025CA$37.2bCA$18.0bCA$1.5b11.6x24.1x2.1x
Mon, 20 Jan 2025CA$36.1bCA$17.8bCA$1.5b11.9x24.1x2x
Wed, 18 Dec 2024CA$36.3bCA$17.8bCA$1.5b12.1x24.3x2x
Fri, 15 Nov 2024CA$36.4bCA$17.8bCA$1.5b11.4x24.4x2x
Sun, 13 Oct 2024CA$36.9bCA$17.7bCA$1.5b11.6x25.1x2.1x
Tue, 10 Sep 2024CA$35.7bCA$17.7bCA$1.5b10.9x24.3x2x
Thu, 08 Aug 2024CA$33.7bCA$17.8bCA$1.6b10x20.6x1.9x
Sat, 06 Jul 2024CA$32.6bCA$17.7bCA$1.6b9.8x20.4x1.8x
Mon, 03 Jun 2024CA$31.9bCA$17.8bCA$1.6b9.6x20.3x1.8x
Wed, 01 May 2024CA$33.5bCA$17.8bCA$1.5b6.3x21.7x1.9x
Fri, 29 Mar 2024CA$35.8bCA$17.8bCA$1.5b6.3x23.5x2x
Sun, 25 Feb 2024CA$37.4bCA$17.8bCA$1.5b11.5x24.9x2.1x
Tue, 23 Jan 2024CA$35.1bCA$17.7bCA$1.5b10.8x24.2x2x
Thu, 21 Dec 2023CA$34.8bCA$17.7bCA$1.5b10.6x23.9x2x
Sat, 18 Nov 2023CA$33.9bCA$17.7bCA$1.5b10.3x23.3x1.9x
Mon, 16 Oct 2023CA$32.2bCA$17.3bCA$1.4b33.4x22.6x1.9x
Wed, 13 Sep 2023CA$33.9bCA$17.3bCA$1.4b36.3x23.7x2x
Fri, 11 Aug 2023CA$33.0bCA$17.2bCA$1.4b33.1x23.1x1.9x
Sun, 09 Jul 2023CA$33.7bCA$16.9bCA$1.4b22.9x24.3x2x
Tue, 06 Jun 2023CA$34.3bCA$16.8bCA$1.4b24.1x24.5x2x
Thu, 04 May 2023CA$33.7bCA$16.7bCA$1.4b23x24.1x2x
Sat, 01 Apr 2023CA$31.8bCA$16.2bCA$1.4b26.8x22.8x2x
Price to Earnings Ratio

22.8x


Total Market Cap: CA$31.8bTotal Earnings: CA$1.4bTotal Revenue: CA$16.2bTotal Market Cap vs Earnings and Revenue0%0%0%
Canadian IT Industry Price to Earnings3Y Average 21.3x202420252026
Current Industry PE
  • Investors are pessimistic on the Canadian IT industry, indicating that they anticipate long term growth rates will be lower than they have historically.
  • The industry is trading at a PE ratio of 13.1x which is lower than its 3-year average PE of 21.3x.
  • The 3-year average PS ratio of 1.9x is higher than the industry's current PS ratio of 1.3x.
Past Earnings Growth
  • The earnings for companies in the IT industry have grown 5.6% per year over the last three years, while revenues have remained mostly flat.
  • This means that companies overall are more efficiently conducting business since profits are increasing while sales have been flat.

Industry Trends

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

CA Market-2.66%
Tech-1.09%
IT0.41%
IT Consulting0.42%
Data Processing Services0%0
Internet Services and Infrastructure-3.20%
Industry PE
  • Investors are most optimistic about the IT Consulting industry even though it's trading below its 3-year average PE ratio of 20.7x.
    • Analysts are expecting annual earnings growth of 9.1%, which is higher than its past year's earnings decline of 4.6% per year.
Forecasted Growth
  • Analysts are most optimistic on the IT Consulting industry, expecting annual earnings growth of 9.1% over the next 5 years.
  • This is better than its past earnings decline of 4.6% per year.
  • In contrast, the IT Consulting 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
GIB.A CGICA$98.910.4%
+CA$93.6m		-31.5%PE12.7x
CCDS Carrier Connect Data SolutionsCA$1.154.5%
+CA$1.6m		180.5%PS42.3x

Latest News

ICS
CA$0.52
Integrated Cyber Solutions
7D
-30.7%
1Y
173.7%
GIB.A
CA$98.91
CGI
7D
0.4%
1Y
-31.5%

GIB.A: Future Upside Will Rely On Buybacks And Arctic AI Contracts

Analyst price targets for CGI have been adjusted in a mixed fashion, with some firms trimming estimates by CA$5 to CA$7 and others lifting them by CA$8. Analysts are reassessing the stock using slightly lower discount rate and P/E assumptions while keeping long term growth and margin expectations broadly unchanged.
DM
CA$0.05
Datametrex AI
7D
-23.1%
1Y
-41.2%
SIX
CA$0.05
Sixty Six Capital
7D
-9.1%
1Y
-9.1%
HIDE
CA$0.75
Hydaway Digital
7D
-7.4%
1Y
n/a
PVT
CA$1.71
Pivotree
7D
-1.7%
1Y
71.0%
CCDS
CA$1.15
Carrier Connect Data Solutions
7D
4.5%
1Y
180.5%
ALYA
CA$1.34
Alithya Group
7D
-1.5%
1Y
-29.5%