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Canadian (TSX) IT Industry Analysis

UpdatedMar 21, 2026
DataAggregated Company Financials
Companies9
  • 7D1.4%
  • 3M-22.0%
  • 1Y-29.5%
  • YTD-20.3%

The IT industry has been flat over the last week, but Integrated Cyber Solutions has lost 14%. Unfortunately though, the industry is down 30% over the past 12 months. 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
Sat, 21 Mar 2026CA$21.2bCA$16.8bCA$1.6b12.8x13x1.3x
Mon, 16 Feb 2026CA$21.9bCA$16.8bCA$1.6b13x13.4x1.3x
Wed, 14 Jan 2026CA$28.4bCA$16.5bCA$1.6b14.1x17.4x1.7x
Fri, 12 Dec 2025CA$27.2bCA$16.5bCA$1.6b12.7x16.7x1.7x
Sun, 09 Nov 2025CA$26.5bCA$16.5bCA$1.7b15.8x16x1.6x
Tue, 07 Oct 2025CA$28.5bCA$16.1bCA$1.7b16.4x16.7x1.8x
Thu, 04 Sep 2025CA$29.7bCA$16.1bCA$1.7b17.2x17.3x1.8x
Sat, 02 Aug 2025CA$29.8bCA$16.1bCA$1.7b58.7x17.6x1.9x
Mon, 30 Jun 2025CA$31.7bCA$15.7bCA$1.7b28.3x18.4x2x
Wed, 28 May 2025CA$33.2bCA$15.7bCA$1.7b10.2x19.2x2.1x
Fri, 25 Apr 2025CA$32.8bCA$15.4bCA$1.7b10.3x19.1x2.1x
Sun, 23 Mar 2025CA$33.1bCA$18.0bCA$1.5b10.3x21.5x1.8x
Tue, 18 Feb 2025CA$39.6bCA$18.0bCA$1.5b12.4x25.6x2.2x
Thu, 16 Jan 2025CA$35.6bCA$17.8bCA$1.5b11.8x23.7x2x
Sat, 14 Dec 2024CA$36.9bCA$17.8bCA$1.5b12.2x24.6x2.1x
Mon, 11 Nov 2024CA$35.7bCA$17.9bCA$1.5b11.2x24x2x
Wed, 09 Oct 2024CA$35.9bCA$17.7bCA$1.5b11.5x24.4x2x
Fri, 06 Sep 2024CA$35.6bCA$17.7bCA$1.5b10.7x24.2x2x
Sun, 04 Aug 2024CA$35.0bCA$17.8bCA$1.6b10.4x21.5x2x
Tue, 02 Jul 2024CA$32.0bCA$17.7bCA$1.6b9.6x20x1.8x
Thu, 30 May 2024CA$33.3bCA$17.8bCA$1.6b9.8x21.2x1.9x
Sat, 27 Apr 2024CA$33.9bCA$17.8bCA$1.5b6.3x22.3x1.9x
Mon, 25 Mar 2024CA$36.3bCA$17.8bCA$1.5b6.3x23.8x2x
Wed, 21 Feb 2024CA$36.4bCA$17.8bCA$1.5b11.2x24.2x2x
Fri, 19 Jan 2024CA$34.8bCA$17.7bCA$1.5b10.9x23.9x2x
Sun, 17 Dec 2023CA$34.3bCA$17.7bCA$1.5b10.6x23.6x1.9x
Tue, 14 Nov 2023CA$33.2bCA$17.5bCA$1.5b39.2x22.4x1.9x
Thu, 12 Oct 2023CA$33.2bCA$17.3bCA$1.4b34.6x23.2x1.9x
Sat, 09 Sep 2023CA$33.6bCA$17.3bCA$1.4b35.7x23.5x1.9x
Mon, 07 Aug 2023CA$32.2bCA$17.2bCA$1.4b22.2x22.2x1.9x
Wed, 05 Jul 2023CA$33.5bCA$16.9bCA$1.4b23.2x24.1x2x
Fri, 02 Jun 2023CA$33.9bCA$16.8bCA$1.4b25x24.2x2x
Sun, 30 Apr 2023CA$33.3bCA$16.7bCA$1.4b22.7x23.6x2x
Tue, 28 Mar 2023CA$31.2bCA$16.2bCA$1.4b26.8x22.6x1.9x
Price to Earnings Ratio

22.6x


Total Market Cap: CA$31.2bTotal 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 12.9x 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 5.7% 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-3.75%
Tech-0.15%
IT1.38%
IT Consulting1.40%
Data Processing Services0%0
Internet Services and Infrastructure-7.61%
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$99.731.4%
+CA$302.0m		-29.6%PE12.8x
MTLO Martello Technologies GroupCA$0.01100.0%
+CA$2.9m		-33.3%PS0.5x
CSTR CryptoStarCA$0.01100.0%
+CA$2.3m		-33.3%PS9x
ECOM EMERGE CommerceCA$0.105.3%
+CA$882.4k		122.2%PE34.1x

Latest News

DM
CA$0.045
Datametrex AI
7D
-18.2%
1Y
-43.8%
HIDE
CA$0.75
Hydaway Digital
7D
-3.2%
1Y
n/a
ECOM
CA$0.10
EMERGE Commerce
7D
5.3%
1Y
122.2%
GIB.A
CA$99.73
CGI
7D
1.4%
1Y
-29.6%

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.
PVT
CA$1.70
Pivotree
7D
-2.3%
1Y
70.0%
CCDS
CA$1.00
Carrier Connect Data Solutions
7D
-10.7%
1Y
112.8%
CSTR
CA$0.01
CryptoStar
7D
100.0%
1Y
-33.3%
ICS
CA$0.73
Integrated Cyber Solutions
7D
-14.1%
1Y
305.6%
ALYA
CA$1.33
Alithya Group
7D
-2.9%
1Y
-31.8%
MTLO
CA$0.01
Martello Technologies Group
7D
100.0%
1Y
-33.3%