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Canadian (TSX) IT Industry Analysis

UpdatedApr 23, 2026
DataAggregated Company Financials
Companies9
  • 7D2.6%
  • 3M-14.2%
  • 1Y-27.7%
  • YTD-16.4%

The IT industry is up 2.6% in the last week, with CGI up 2.7%. In the past year, the industry is down 28%. As for the next few years, earnings are expected to grow by 9.1% per annum.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Fri, 24 Apr 2026CA$22.6bCA$16.8bCA$1.6b10.3x13.8x1.3x
Sun, 22 Mar 2026CA$21.5bCA$16.8bCA$1.6b12.8x13.1x1.3x
Tue, 17 Feb 2026CA$21.9bCA$16.8bCA$1.6b13x13.3x1.3x
Thu, 15 Jan 2026CA$28.2bCA$16.5bCA$1.6b14.1x17.3x1.7x
Sat, 13 Dec 2025CA$27.2bCA$16.5bCA$1.6b13.2x16.7x1.7x
Mon, 10 Nov 2025CA$26.5bCA$16.5bCA$1.7b15.8x16x1.6x
Wed, 08 Oct 2025CA$28.4bCA$16.1bCA$1.7b16.3x16.6x1.8x
Fri, 05 Sep 2025CA$29.6bCA$16.1bCA$1.7b17x17.3x1.8x
Sun, 03 Aug 2025CA$29.4bCA$16.1bCA$1.7b58.7x17.3x1.8x
Tue, 01 Jul 2025CA$31.7bCA$15.7bCA$1.7b27.3x18.4x2x
Thu, 29 May 2025CA$33.4bCA$15.7bCA$1.7b15.6x19.5x2.1x
Sat, 26 Apr 2025CA$33.1bCA$15.4bCA$1.7b10.3x19.2x2.1x
Mon, 24 Mar 2025CA$33.1bCA$18.0bCA$1.5b10.3x21.5x1.8x
Wed, 19 Feb 2025CA$39.6bCA$18.0bCA$1.5b12.3x25.6x2.2x
Fri, 17 Jan 2025CA$35.8bCA$17.8bCA$1.5b11.9x23.9x2x
Sun, 15 Dec 2024CA$37.0bCA$17.8bCA$1.5b12.2x24.7x2.1x
Tue, 12 Nov 2024CA$35.7bCA$17.9bCA$1.5b11.4x24x2x
Thu, 10 Oct 2024CA$36.3bCA$17.7bCA$1.5b11.6x24.7x2x
Sat, 07 Sep 2024CA$35.3bCA$17.7bCA$1.5b10.8x24x2x
Mon, 05 Aug 2024CA$35.0bCA$17.8bCA$1.6b10.4x21.5x2x
Wed, 03 Jul 2024CA$32.0bCA$17.7bCA$1.6b9.8x20x1.8x
Fri, 31 May 2024CA$31.8bCA$17.8bCA$1.6b9.6x20.3x1.8x
Sun, 28 Apr 2024CA$33.9bCA$17.8bCA$1.5b6.3x22.3x1.9x
Tue, 26 Mar 2024CA$36.3bCA$17.8bCA$1.5b6.3x23.8x2x
Thu, 22 Feb 2024CA$36.4bCA$17.8bCA$1.5b11x24.2x2x
Sat, 20 Jan 2024CA$34.8bCA$17.7bCA$1.5b11x23.9x2x
Mon, 18 Dec 2023CA$34.4bCA$17.7bCA$1.5b10.6x23.7x1.9x
Wed, 15 Nov 2023CA$33.2bCA$17.5bCA$1.5b42.7x22.4x1.9x
Fri, 13 Oct 2023CA$33.2bCA$17.3bCA$1.4b33.9x23.2x1.9x
Sun, 10 Sep 2023CA$33.5bCA$17.3bCA$1.4b35.7x23.5x1.9x
Tue, 08 Aug 2023CA$32.2bCA$17.2bCA$1.4b22.2x22.2x1.9x
Thu, 06 Jul 2023CA$33.7bCA$16.9bCA$1.4b23.4x24.3x2x
Sat, 03 Jun 2023CA$34.3bCA$16.8bCA$1.4b24.7x24.5x2x
Mon, 01 May 2023CA$33.3bCA$16.7bCA$1.4b22.7x23.6x2x
Price to Earnings Ratio

23.6x


Total Market Cap: CA$33.3bTotal Earnings: CA$1.4bTotal Revenue: CA$16.7bTotal Market Cap vs Earnings and Revenue0%0%0%
Canadian IT Industry Price to Earnings3Y Average 21x202420252026
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 13.8x which is lower than its 3-year average PE of 21.0x.
  • 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 5.1% 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-0.38%
Tech4.38%
IT2.61%
IT Consulting2.62%
Data Processing Services0%0
Internet Services and Infrastructure-1.20%
Industry PE
  • Investors are most optimistic about the IT Consulting industry even though it's trading below its 3-year average PE ratio of 20.5x.
    • 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
ECOM EMERGE CommerceCA$0.1115.8%
+CA$2.6m		144.4%PE37.6x
TTC Titan TechnologyCA$0.4060.0%
+CA$1.9m		n/an/a
SIX Sixty Six CapitalCA$0.0511.1%
+CA$1.2m		11.1%PE2x
ICS Integrated Cyber SolutionsCA$0.601.7%
+CA$747.1k		140.0%PE-10.1x
PVT PivotreeCA$1.660.6%
+CA$263.4k		46.9%PE10.3x

Latest News

ECOM
CA$0.11
EMERGE Commerce
7D
15.8%
1Y
144.4%
PVT
CA$1.66
Pivotree
7D
0.6%
1Y
46.9%
GIB.A
CA$100.04
CGI
7D
-3.1%
1Y
-31.7%

GIB.A: Future Upside Will Rely On AI Led Public Sector Wins

Analyst price targets for CGI have been trimmed by about CA$1.50, as mixed recent Street research, including small target cuts from Canaccord and CIBC alongside a raise from TD Securities and fresh coverage from Scotiabank, contributes to slightly higher discount rate assumptions and a modestly lower future P/E in updated models. Analyst Commentary The latest batch of research on CGI points to a mixed but generally engaged analyst base, with some trimming targets and others lifting or initiating them, all while fine tuning valuation frameworks rather than making wholesale changes to the thesis.
ICS
CA$0.60
Integrated Cyber Solutions
7D
1.7%
1Y
140.0%
SIX
CA$0.05
Sixty Six Capital
7D
11.1%
1Y
11.1%
HIDE
CA$0.58
Hydaway Digital
7D
-3.3%
1Y
n/a
CCDS
CA$1.14
Carrier Connect Data Solutions
7D
-12.3%
1Y
132.7%
ALYA
CA$1.39
Alithya Group
7D
-4.1%
1Y
-23.2%
NERD
CA$0.03
Nerds on Site
7D
-14.3%
1Y
-25.0%