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Canadian (TSX) IT Industry Analysis

UpdatedApr 14, 2026
DataAggregated Company Financials
Companies9
  • 7D-1.1%
  • 3M-22.1%
  • 1Y-28.9%
  • YTD-19.0%

Over the last 7 days, the IT industry has dropped 1.1%, driven by a pullback from CGI of 1.1%. On the other hand Carrier Connect Data Solutions is actually up 13%. However, the industry is down 29% over the past year. As for the next few years, earnings are expected to grow by 9.2% per annum.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Tue, 14 Apr 2026CA$20.8bCA$16.8bCA$1.6b10.3x12.7x1.2x
Thu, 12 Mar 2026CA$21.7bCA$16.8bCA$1.6b12.7x13.3x1.3x
Sat, 07 Feb 2026CA$24.4bCA$16.8bCA$1.6b13.6x14.9x1.5x
Mon, 05 Jan 2026CA$27.1bCA$16.5bCA$1.6b13.6x16.6x1.6x
Wed, 03 Dec 2025CA$27.2bCA$16.5bCA$1.6b11.9x16.7x1.7x
Fri, 31 Oct 2025CA$26.7bCA$16.1bCA$1.7b15.7x15.6x1.7x
Sun, 28 Sep 2025CA$27.4bCA$16.1bCA$1.7b15.8x16x1.7x
Tue, 26 Aug 2025CA$29.9bCA$16.1bCA$1.7b43.4x17.5x1.9x
Thu, 24 Jul 2025CA$30.9bCA$15.7bCA$1.7b43x17.9x2x
Sat, 21 Jun 2025CA$33.1bCA$15.7bCA$1.7b18.4x19.2x2.1x
Mon, 19 May 2025CA$33.9bCA$15.7bCA$1.7b10.2x19.6x2.2x
Wed, 16 Apr 2025CA$33.4bCA$18.0bCA$1.5b10x21.7x1.9x
Fri, 14 Mar 2025CA$34.8bCA$18.0bCA$1.5b10.5x22.6x1.9x
Sun, 09 Feb 2025CA$39.4bCA$18.0bCA$1.5b12.5x25.5x2.2x
Tue, 07 Jan 2025CA$36.6bCA$17.8bCA$1.5b11.9x24.4x2.1x
Thu, 05 Dec 2024CA$36.4bCA$17.8bCA$1.5b12x24.3x2x
Sat, 02 Nov 2024CA$35.6bCA$17.7bCA$1.5b11.7x24.2x2x
Mon, 30 Sep 2024CA$35.8bCA$17.7bCA$1.5b11.3x24.4x2x
Wed, 28 Aug 2024CA$34.5bCA$17.7bCA$1.5b10.6x23.5x1.9x
Fri, 26 Jul 2024CA$34.5bCA$17.7bCA$1.6b10.5x21.4x1.9x
Sun, 23 Jun 2024CA$31.9bCA$17.7bCA$1.6b9.5x19.9x1.8x
Tue, 21 May 2024CA$34.0bCA$17.8bCA$1.6b10.2x21.7x1.9x
Thu, 18 Apr 2024CA$34.5bCA$17.8bCA$1.5b6.3x22.7x1.9x
Sat, 16 Mar 2024CA$38.1bCA$17.8bCA$1.5b6.3x25x2.1x
Mon, 12 Feb 2024CA$36.6bCA$17.8bCA$1.5b11.2x24.3x2.1x
Wed, 10 Jan 2024CA$33.8bCA$17.7bCA$1.5b10.4x23.2x1.9x
Fri, 08 Dec 2023CA$33.9bCA$17.7bCA$1.5b10.6x23.3x1.9x
Sun, 05 Nov 2023CA$32.8bCA$17.3bCA$1.4b36.8x23x1.9x
Tue, 03 Oct 2023CA$32.2bCA$17.3bCA$1.4b34.4x22.6x1.9x
Thu, 31 Aug 2023CA$33.8bCA$17.3bCA$1.4b34.8x23.6x2x
Sat, 29 Jul 2023CA$31.5bCA$17.2bCA$1.5b21.7x21.7x1.8x
Mon, 26 Jun 2023CA$32.4bCA$16.9bCA$1.4b22.3x23.3x1.9x
Wed, 24 May 2023CA$33.3bCA$16.9bCA$1.4b23.2x23.8x2x
Fri, 21 Apr 2023CA$32.2bCA$16.2bCA$1.4b27.3x23.1x2x
Price to Earnings Ratio

23.1x


Total Market Cap: CA$32.2bTotal Earnings: CA$1.4bTotal Revenue: CA$16.2bTotal Market Cap vs Earnings and Revenue0%0%0%
Canadian IT Industry Price to Earnings3Y Average 21.1x202420252026
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 12.7x which is lower than its 3-year average PE of 21.1x.
  • The 3-year average PS ratio of 1.9x is higher than the industry's current PS ratio of 1.2x.
Past Earnings Growth
  • The earnings for companies in the IT industry have grown 5.6% 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 Market2.40%
Tech7.23%
IT-1.09%
Internet Services and Infrastructure2.61%
Data Processing Services0%0
IT Consulting-1.10%
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 9.2%, 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 9.2% 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 9.2% 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
CCDS Carrier Connect Data SolutionsCA$1.3512.5%
+CA$4.8m		229.3%PS49.7x
ECOM EMERGE CommerceCA$0.0955.6%
+CA$882.4k		111.1%PE32.4x
TTC Titan TechnologyCA$0.2519.0%
+CA$509.9k		n/an/a
NERD Nerds on SiteCA$0.0320.0%
+CA$458.2k		-25.0%PS0.2x

Latest News

ECOM
CA$0.095
EMERGE Commerce
7D
5.6%
1Y
111.1%
PVT
CA$1.66
Pivotree
7D
-2.4%
1Y
66.0%
ICS
CA$0.59
Integrated Cyber Solutions
7D
-6.3%
1Y
90.3%
GIB.A
CA$101.29
CGI
7D
-1.1%
1Y
-29.1%

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

Analyst price targets on CGI have been adjusted in a mixed way, with some firms trimming their views by CA$5 to CA$7 and others lifting targets by CA$8, as analysts factor in modest tweaks to the discount rate, revenue growth, profit margin, and future P/E assumptions. Analyst Commentary Recent research updates on CGI reflect a split view, with some analysts trimming price targets and others lifting them as they recalibrate models for discount rates, revenue outlook, margins, and P/E assumptions.
DM
CA$0.06
Datametrex AI
7D
-14.3%
1Y
-20.0%
SIX
CA$0.04
Sixty Six Capital
7D
-11.1%
1Y
0%
HIDE
CA$0.63
Hydaway Digital
7D
-8.7%
1Y
n/a
CCDS
CA$1.35
Carrier Connect Data Solutions
7D
12.5%
1Y
229.3%
ALYA
CA$1.39
Alithya Group
7D
-5.4%
1Y
-14.2%
NERD
CA$0.03
Nerds on Site
7D
20.0%
1Y
-25.0%