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Canadian (TSX) IT Industry Analysis

UpdatedMar 02, 2026
DataAggregated Company Financials
Companies9
  • 7D-2.1%
  • 3M-19.1%
  • 1Y-33.3%
  • YTD-20.2%

Over the last 7 days, the IT industry has dropped 2.1%, driven by a pullback from Alithya Group of 4.4%. The industry has fallen 33% in the last year. 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
Tue, 03 Mar 2026CA$21.5bCA$16.8bCA$1.6b12.8x13.1x1.3x
Thu, 29 Jan 2026CA$26.0bCA$16.8bCA$1.6b13.3x15.9x1.5x
Sat, 27 Dec 2025CA$28.1bCA$16.5bCA$1.6b13.6x17.2x1.7x
Mon, 24 Nov 2025CA$27.0bCA$16.5bCA$1.6b11.7x16.6x1.6x
Wed, 22 Oct 2025CA$27.2bCA$16.1bCA$1.7b15.8x15.9x1.7x
Fri, 19 Sep 2025CA$28.3bCA$16.1bCA$1.7b16.4x16.5x1.8x
Sun, 17 Aug 2025CA$29.0bCA$16.1bCA$1.7b49x17x1.8x
Tue, 15 Jul 2025CA$30.9bCA$15.7bCA$1.7b37.7x17.9x2x
Thu, 12 Jun 2025CA$33.3bCA$15.7bCA$1.7b16.1x19.4x2.1x
Sat, 10 May 2025CA$33.1bCA$15.7bCA$1.7b9.9x19.2x2.1x
Mon, 07 Apr 2025CA$32.2bCA$18.0bCA$1.5b9.7x20.9x1.8x
Wed, 05 Mar 2025CA$34.9bCA$18.0bCA$1.6b10.7x22.5x1.9x
Fri, 31 Jan 2025CA$38.0bCA$18.0bCA$1.5b12.9x24.6x2.1x
Sun, 29 Dec 2024CA$36.5bCA$17.8bCA$1.5b11.7x24.4x2x
Tue, 26 Nov 2024CA$36.1bCA$17.8bCA$1.5b11.7x24.1x2x
Thu, 24 Oct 2024CA$36.6bCA$17.7bCA$1.5b11.6x24.9x2.1x
Sat, 21 Sep 2024CA$35.8bCA$17.7bCA$1.5b11x24.4x2x
Mon, 19 Aug 2024CA$34.6bCA$17.7bCA$1.5b10.3x23.5x2x
Wed, 17 Jul 2024CA$33.6bCA$17.7bCA$1.6b10.3x20.8x1.9x
Fri, 14 Jun 2024CA$32.3bCA$17.8bCA$1.6b9.6x20.5x1.8x
Sun, 12 May 2024CA$33.2bCA$17.8bCA$1.6b6.3x21.2x1.9x
Tue, 09 Apr 2024CA$34.8bCA$17.8bCA$1.5b6.3x22.8x2x
Thu, 07 Mar 2024CA$37.2bCA$17.8bCA$1.5b11.4x24.5x2.1x
Sat, 03 Feb 2024CA$37.3bCA$17.9bCA$1.5b11.4x25.5x2.1x
Mon, 01 Jan 2024CA$34.2bCA$17.7bCA$1.5b10.5x23.5x1.9x
Wed, 29 Nov 2023CA$33.3bCA$17.7bCA$1.5b10.1x22.8x1.9x
Fri, 27 Oct 2023CA$31.3bCA$17.3bCA$1.4b32.8x21.9x1.8x
Sun, 24 Sep 2023CA$32.5bCA$17.3bCA$1.4b34.7x22.8x1.9x
Tue, 22 Aug 2023CA$32.4bCA$17.3bCA$1.4b32.1x22.7x1.9x
Thu, 20 Jul 2023CA$34.2bCA$16.8bCA$1.4b23.9x24.4x2x
Sat, 17 Jun 2023CA$33.3bCA$16.9bCA$1.4b22.8x24x2x
Mon, 15 May 2023CA$33.6bCA$16.9bCA$1.4b22.8x24x2x
Wed, 12 Apr 2023CA$32.1bCA$16.2bCA$1.4b28.8x23.1x2x
Fri, 10 Mar 2023CA$39.0bCA$17.7bCA$1.4b29.6x27.6x2.2x
Price to Earnings Ratio

27.6x


Total Market Cap: CA$39.0bTotal Earnings: CA$1.4bTotal Revenue: CA$17.7bTotal Market Cap vs Earnings and Revenue0%0%0%
Canadian IT Industry Price to Earnings3Y Average 21.6x202420252026
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 21.6x.
  • 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 Market1.82%
Tech-0.76%
IT-2.07%
Data Processing Services0%0
Internet Services and Infrastructure-0.16%
IT Consulting-2.08%
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$99.061.4%
+CA$297.8m		-33.9%PE12.7x
CCDS Carrier Connect Data SolutionsCA$1.56-9.3%
CA$6.2m		524.0%PS93.1x
HIDE Hydaway DigitalCA$0.658.3%
+CA$4.7m		n/aPB33.3x

Latest News

DM
CA$0.09
Datametrex AI
7D
-5.3%
1Y
0%
CCDS
CA$1.56
Carrier Connect Data Solutions
7D
-9.3%
1Y
524.0%
HIDE
CA$0.65
Hydaway Digital
7D
8.3%
1Y
n/a
ICS
CA$1.13
Integrated Cyber Solutions
7D
-1.7%
1Y
1,030.0%
ALYA
CA$1.30
Alithya Group
7D
-4.4%
1Y
-36.6%
GIB.A
CA$99.06
CGI
7D
1.4%
1Y
-33.9%

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.
MTLO
CA$0.005
Martello Technologies Group
7D
-50.0%
1Y
-50.0%
NERD
CA$0.03
Nerds on Site
7D
-14.3%
1Y
-33.3%
PVT
CA$1.70
Pivotree
7D
-2.3%
1Y
61.9%

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