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Canadian (TSX) IT Industry Analysis

UpdatedMar 06, 2026
DataAggregated Company Financials
Companies9
  • 7D2.5%
  • 3M-19.3%
  • 1Y-30.3%
  • YTD-17.8%

In the last week, the IT industry is up 2.5%, with CGI up 2.6%. During this same period, the Carrier Connect Data Solutions underperformed, falling 18%. In contrast, the industry has lost 30% 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
Sat, 07 Mar 2026CA$21.5bCA$16.8bCA$1.6b13x13.1x1.3x
Mon, 02 Feb 2026CA$25.1bCA$16.8bCA$1.6b13.2x15.4x1.5x
Wed, 31 Dec 2025CA$27.9bCA$16.5bCA$1.6b13.7x17.1x1.7x
Fri, 28 Nov 2025CA$27.2bCA$16.5bCA$1.6b11.5x16.7x1.7x
Sun, 26 Oct 2025CA$27.3bCA$16.1bCA$1.7b15.8x15.9x1.7x
Tue, 23 Sep 2025CA$28.4bCA$16.1bCA$1.7b16.6x16.6x1.8x
Thu, 21 Aug 2025CA$29.4bCA$16.1bCA$1.7b43.6x17.2x1.8x
Sat, 19 Jul 2025CA$31.0bCA$15.7bCA$1.7b36.3x18x2x
Mon, 16 Jun 2025CA$33.0bCA$15.7bCA$1.7b18.7x19.1x2.1x
Wed, 14 May 2025CA$33.8bCA$15.7bCA$1.7b10.1x19.6x2.2x
Fri, 11 Apr 2025CA$33.6bCA$18.0bCA$1.5b9.6x21.8x1.9x
Sun, 09 Mar 2025CA$35.1bCA$18.0bCA$1.5b10.8x22.8x1.9x
Tue, 04 Feb 2025CA$39.3bCA$18.0bCA$1.5b12.6x25.4x2.2x
Thu, 02 Jan 2025CA$36.2bCA$17.8bCA$1.5b11.8x24.2x2x
Sat, 30 Nov 2024CA$36.4bCA$17.8bCA$1.5b12.1x24.3x2x
Mon, 28 Oct 2024CA$36.3bCA$17.7bCA$1.5b11.5x24.7x2x
Wed, 25 Sep 2024CA$35.6bCA$17.7bCA$1.5b11.1x24.2x2x
Fri, 23 Aug 2024CA$35.0bCA$17.7bCA$1.5b10.5x23.8x2x
Sun, 21 Jul 2024CA$33.9bCA$17.7bCA$1.6b10.2x21.1x1.9x
Tue, 18 Jun 2024CA$32.2bCA$17.7bCA$1.6b9.6x20.2x1.8x
Thu, 16 May 2024CA$33.2bCA$17.8bCA$1.6b10.1x21.2x1.9x
Sat, 13 Apr 2024CA$34.7bCA$17.8bCA$1.5b6.3x22.9x1.9x
Mon, 11 Mar 2024CA$37.8bCA$17.8bCA$1.5b6.3x24.8x2.1x
Wed, 07 Feb 2024CA$35.8bCA$17.8bCA$1.5b10.9x23.8x2x
Fri, 05 Jan 2024CA$33.0bCA$17.7bCA$1.5b10.1x22.7x1.9x
Sun, 03 Dec 2023CA$33.5bCA$17.7bCA$1.5b10.3x23x1.9x
Tue, 31 Oct 2023CA$31.9bCA$17.3bCA$1.4b34x22.3x1.8x
Thu, 28 Sep 2023CA$32.0bCA$17.3bCA$1.4b34.6x22.4x1.9x
Sat, 26 Aug 2023CA$33.2bCA$17.3bCA$1.4b33.8x23.2x1.9x
Mon, 24 Jul 2023CA$32.5bCA$16.8bCA$1.4b22.5x23.3x1.9x
Wed, 21 Jun 2023CA$33.3bCA$16.9bCA$1.4b23.2x24x2x
Fri, 19 May 2023CA$34.0bCA$16.9bCA$1.4b23.8x24.3x2x
Sun, 16 Apr 2023CA$32.8bCA$16.2bCA$1.4b28.8x23.6x2x
Tue, 14 Mar 2023CA$38.3bCA$17.7bCA$1.4b26.8x27.2x2.2x
Price to Earnings Ratio

27.2x


Total Market Cap: CA$38.3bTotal Earnings: CA$1.4bTotal Revenue: CA$17.7bTotal Market Cap vs Earnings and Revenue0%0%0%
Canadian IT Industry Price to Earnings3Y Average 21.5x202420252026
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 21.5x.
  • 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 5.0% 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-2.97%
Tech2.56%
IT2.54%
IT Consulting2.62%
Data Processing Services0%0
Internet Services and Infrastructure-15.42%
Industry PE
  • Investors are most optimistic about the IT Consulting industry even though it's trading below its 3-year average PE ratio of 20.8x.
    • 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$103.413.7%
+CA$776.4m		-31.4%PE13.2x
HIDE Hydaway DigitalCA$0.7957.0%
+CA$10.2m		n/aPB40.2x
ALYA Alithya GroupCA$1.362.3%
+CA$3.0m		-28.0%PS0.3x
PVT PivotreeCA$1.774.1%
+CA$1.8m		70.2%PE13.3x
ICS Integrated Cyber SolutionsCA$1.151.8%
+CA$1.5m		1,110.5%PE-19.5x

Latest News

PVT
CA$1.77
Pivotree
7D
4.1%
1Y
70.2%
CCDS
CA$1.32
Carrier Connect Data Solutions
7D
-20.0%
1Y
371.4%
DM
CA$0.075
Datametrex AI
7D
-16.7%
1Y
-11.8%
HIDE
CA$0.79
Hydaway Digital
7D
57.0%
1Y
n/a
ICS
CA$1.15
Integrated Cyber Solutions
7D
1.8%
1Y
1,110.5%
ALYA
CA$1.36
Alithya Group
7D
2.3%
1Y
-28.0%
GIB.A
CA$103.41
CGI
7D
3.7%
1Y
-31.4%

GIB.A: Future Returns Will Rely On Buybacks And Steady Execution

Analyst price targets for CGI have been adjusted slightly, with a modest net change centered around CA$ level updates as firms recalibrate for a higher discount rate, make a small tweak to assumed future P/E, and incorporate fresh research from CIBC, Canaccord, TD Securities and Scotiabank. Analyst Commentary Recent research updates show a mixed but generally constructive view on CGI, with some firms trimming their price targets while others have raised theirs or reiterated constructive ratings after transferring coverage.
ECOM
CA$0.11
EMERGE Commerce
7D
4.8%
1Y
120.0%
SIX
CA$0.055
Sixty Six Capital
7D
-8.3%
1Y
0%