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Canadian (TSX) IT Industry Analysis

UpdatedFeb 09, 2026
DataAggregated Company Financials
Companies9
  • 7D-3.2%
  • 3M-5.9%
  • 1Y-33.4%
  • YTD-9.7%

Over the last 7 days, the IT industry has dropped 3.2%, driven by a pullback from CGI of 3.2%. On the other hand Hydaway Digital is actually up 32%. Overall the industry is down 33% in 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
Mon, 09 Feb 2026CA$24.3bCA$16.8bCA$1.6b13.6x14.9x1.5x
Wed, 07 Jan 2026CA$27.1bCA$16.5bCA$1.6b13.4x16.6x1.6x
Fri, 05 Dec 2025CA$28.0bCA$16.5bCA$1.6b12.3x17.1x1.7x
Sun, 02 Nov 2025CA$27.2bCA$16.1bCA$1.7b15.7x15.9x1.7x
Tue, 30 Sep 2025CA$27.4bCA$16.1bCA$1.7b15.9x16x1.7x
Thu, 28 Aug 2025CA$29.3bCA$16.1bCA$1.7b33.1x17.2x1.8x
Sat, 26 Jul 2025CA$31.1bCA$15.7bCA$1.7b51.1x18x2x
Mon, 23 Jun 2025CA$32.4bCA$15.7bCA$1.7b18.4x18.8x2.1x
Wed, 21 May 2025CA$33.9bCA$15.7bCA$1.7b10.2x19.6x2.2x
Fri, 18 Apr 2025CA$33.8bCA$18.0bCA$1.5b10.1x21.9x1.9x
Sun, 16 Mar 2025CA$34.5bCA$18.0bCA$1.5b10.7x22.4x1.9x
Tue, 11 Feb 2025CA$39.4bCA$18.0bCA$1.5b12.7x25.5x2.2x
Thu, 09 Jan 2025CA$35.8bCA$17.8bCA$1.5b11.9x23.9x2x
Sat, 07 Dec 2024CA$36.7bCA$17.8bCA$1.5b12.2x24.5x2.1x
Mon, 04 Nov 2024CA$35.9bCA$17.7bCA$1.5b11.7x24.4x2x
Wed, 02 Oct 2024CA$36.2bCA$17.7bCA$1.5b11.3x24.6x2x
Fri, 30 Aug 2024CA$34.8bCA$17.7bCA$1.5b10.6x23.7x2x
Sun, 28 Jul 2024CA$35.1bCA$17.7bCA$1.6b10.6x21.8x2x
Tue, 25 Jun 2024CA$31.9bCA$17.7bCA$1.6b9.5x19.9x1.8x
Thu, 23 May 2024CA$34.1bCA$17.8bCA$1.6b10.2x21.7x1.9x
Sat, 20 Apr 2024CA$34.3bCA$17.8bCA$1.5b6.3x22.6x1.9x
Mon, 18 Mar 2024CA$37.9bCA$17.8bCA$1.5b6.3x24.8x2.1x
Wed, 14 Feb 2024CA$36.0bCA$17.8bCA$1.5b11.1x24x2x
Fri, 12 Jan 2024CA$34.2bCA$17.7bCA$1.5b10.8x23.5x1.9x
Sun, 10 Dec 2023CA$34.1bCA$17.7bCA$1.5b10.6x23.5x1.9x
Tue, 07 Nov 2023CA$32.8bCA$17.3bCA$1.4b38.1x23x1.9x
Thu, 05 Oct 2023CA$32.2bCA$17.3bCA$1.4b34.9x22.6x1.9x
Sat, 02 Sep 2023CA$34.0bCA$17.3bCA$1.4b35.6x23.8x2x
Mon, 31 Jul 2023CA$31.7bCA$17.2bCA$1.5b21.7x21.9x1.8x
Wed, 28 Jun 2023CA$32.8bCA$16.9bCA$1.4b22.2x23.6x1.9x
Fri, 26 May 2023CA$33.3bCA$16.9bCA$1.4b22.9x23.7x2x
Sun, 23 Apr 2023CA$32.6bCA$16.2bCA$1.4b25.7x23.4x2x
Tue, 21 Mar 2023CA$30.8bCA$16.2bCA$1.4b28.4x22.2x1.9x
Thu, 16 Feb 2023CA$38.2bCA$17.6bCA$1.4b34.4x27x2.2x
Price to Earnings Ratio

27x


Total Market Cap: CA$38.2bTotal Earnings: CA$1.4bTotal Revenue: CA$17.6bTotal Market Cap vs Earnings and Revenue0%0%0%
Canadian IT Industry Price to Earnings3Y Average 21.8x202420252026
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 14.9x which is lower than its 3-year average PE of 21.8x.
  • The 3-year average PS ratio of 1.9x is higher than the industry's current PS ratio of 1.5x.
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 Market2.10%
Tech-0.98%
IT-3.24%
Data Processing Services0%0
Internet Services and Infrastructure-1.33%
IT Consulting-3.24%
Industry PE
  • Investors are most optimistic about the IT Consulting industry even though it's trading below its 3-year average PE ratio of 21.0x.
    • 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
HIDE Hydaway DigitalCA$0.4331.8%
+CA$5.2m		n/aPB19.3x
MTLO Martello Technologies GroupCA$0.01100.0%
+CA$2.9m		0%PS0.4x
CSTR CryptoStarCA$0.01100.0%
+CA$2.1m		-50.0%PS8.2x
DM Datametrex AICA$0.1023.5%
+CA$1.6m		-30.0%PS1.6x
PVT PivotreeCA$1.813.4%
+CA$1.6m		72.4%PE13.6x

Latest News

ICS
CA$1.25
Integrated Cyber Solutions
7D
-11.3%
1Y
825.9%
HIDE
CA$0.43
Hydaway Digital
7D
31.8%
1Y
n/a
GIB.A
CA$112.92
CGI
7D
-3.2%
1Y
-33.7%

GIB.A: Future Returns Will Rely On Consistent Execution And Share Repurchases

Analysts have trimmed their price target on CGI to about $151 from $154, reflecting slightly lower assumed profit margins and P/E multiples, even as they factor in modestly higher revenue growth following a mix of target cuts and one increase in recent research updates. Analyst Commentary Recent research on CGI shows a split between analysts who see upside based on execution and those who are more cautious given growth mix and valuation assumptions.
NERD
CA$0.03
Nerds on Site
7D
-33.3%
1Y
-25.0%
ALYA
CA$1.64
Alithya Group
7D
-7.3%
1Y
0%
SIX
CA$0.055
Sixty Six Capital
7D
-8.3%
1Y
-31.3%
CCDS
CA$1.90
Carrier Connect Data Solutions
7D
-5.5%
1Y
n/a
CSTR
CA$0.01
CryptoStar
7D
100.0%
1Y
-50.0%
PVT
CA$1.81
Pivotree
7D
3.4%
1Y
72.4%

Pivotree Inc. Just Beat Analyst Forecasts, And Analysts Have Been Updating Their Predictions

Nov 17
Pivotree Inc. Just Beat Analyst Forecasts, And Analysts Have Been Updating Their Predictions
DM
CA$0.10
Datametrex AI
7D
23.5%
1Y
-30.0%
MTLO
CA$0.01
Martello Technologies Group
7D
100.0%
1Y
0%