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Canadian (TSX) IT Industry Analysis

UpdatedJan 24, 2026
DataAggregated Company Financials
Companies8
  • 7D-4.1%
  • 3M0.09%
  • 1Y-23.6%
  • YTD-2.2%

Over the last 7 days, the IT industry has dropped 4.1%, driven by a pullback from CGI of 4.2%. Meanwhile, Carrier Connect Data Solutions actually outperformed within the industry, gaining 8.7% in the last week. The industry has fallen 24% in the last year. Looking forward, earnings are forecast to grow by 9.2% annually.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Sat, 24 Jan 2026CA$26.4bCA$16.5bCA$1.6b13.7x16.2x1.6x
Mon, 22 Dec 2025CA$28.1bCA$16.5bCA$1.6b13.3x17.2x1.7x
Wed, 19 Nov 2025CA$26.5bCA$16.5bCA$1.6b11.6x16.3x1.6x
Fri, 17 Oct 2025CA$27.1bCA$16.1bCA$1.7b15.8x15.8x1.7x
Sun, 14 Sep 2025CA$28.8bCA$16.1bCA$1.7b16.7x16.8x1.8x
Tue, 12 Aug 2025CA$29.5bCA$16.1bCA$1.7b57.2x17.4x1.8x
Thu, 10 Jul 2025CA$31.8bCA$15.7bCA$1.7b40.4x18.4x2x
Sat, 07 Jun 2025CA$32.9bCA$15.7bCA$1.7b16x19.2x2.1x
Mon, 05 May 2025CA$32.4bCA$15.7bCA$1.7b10.1x18.8x2.1x
Wed, 02 Apr 2025CA$33.5bCA$18.0bCA$1.5b10.2x21.7x1.9x
Fri, 28 Feb 2025CA$37.3bCA$18.0bCA$1.5b11.4x24.2x2.1x
Sun, 26 Jan 2025CA$37.0bCA$17.8bCA$1.5b12.5x24.7x2.1x
Tue, 24 Dec 2024CA$36.2bCA$17.8bCA$1.5b11.9x24.2x2x
Thu, 21 Nov 2024CA$35.4bCA$17.8bCA$1.5b11.7x23.7x2x
Sat, 19 Oct 2024CA$37.1bCA$17.7bCA$1.5b11.8x25.2x2.1x
Mon, 16 Sep 2024CA$36.5bCA$17.7bCA$1.5b11.1x24.8x2.1x
Wed, 14 Aug 2024CA$33.8bCA$17.8bCA$1.5b10.1x23x1.9x
Fri, 12 Jul 2024CA$32.8bCA$17.7bCA$1.6b10x20.4x1.9x
Sun, 09 Jun 2024CA$32.8bCA$17.8bCA$1.6b9.8x20.8x1.8x
Tue, 07 May 2024CA$33.8bCA$17.8bCA$1.6b6.3x21.5x1.9x
Thu, 04 Apr 2024CA$35.6bCA$17.8bCA$1.5b6.3x23.4x2x
Sat, 02 Mar 2024CA$37.2bCA$17.8bCA$1.5b11.5x24.8x2.1x
Mon, 29 Jan 2024CA$35.4bCA$17.7bCA$1.5b10.9x24.3x2x
Wed, 27 Dec 2023CA$34.1bCA$17.7bCA$1.5b10.5x23.5x1.9x
Fri, 24 Nov 2023CA$33.5bCA$17.7bCA$1.5b10.2x22.9x1.9x
Sun, 22 Oct 2023CA$32.2bCA$17.3bCA$1.4b34.1x22.5x1.9x
Tue, 19 Sep 2023CA$33.6bCA$17.3bCA$1.4b36.5x23.5x1.9x
Thu, 17 Aug 2023CA$32.8bCA$17.3bCA$1.4b32.6x22.9x1.9x
Sat, 15 Jul 2023CA$34.2bCA$16.8bCA$1.4b23.7x24.4x2x
Mon, 12 Jun 2023CA$33.6bCA$16.9bCA$1.4b23.9x24.2x2x
Wed, 10 May 2023CA$33.2bCA$16.7bCA$1.4b23.9x23.7x2x
Fri, 07 Apr 2023CA$31.7bCA$16.2bCA$1.4b24.2x22.8x1.9x
Sun, 05 Mar 2023CA$37.9bCA$17.6bCA$1.4b29.6x26.8x2.1x
Tue, 31 Jan 2023CA$35.6bCA$17.3bCA$1.4b33x26.1x2.1x
Price to Earnings Ratio

26.1x


Total Market Cap: CA$35.6bTotal Earnings: CA$1.4bTotal Revenue: CA$17.3bTotal Market Cap vs Earnings and Revenue0%0%0%
Canadian IT Industry Price to Earnings3Y Average 22x202420252026
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 16.2x which is lower than its 3-year average PE of 22.0x.
  • The 3-year average PS ratio of 1.9x is higher than the industry's current PS ratio of 1.6x.
Past Earnings Growth
  • The earnings for companies in the IT industry have grown 6.1% 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 Market1.16%
Tech-3.62%
IT-4.11%
Internet Services and Infrastructure3.69%
Data Processing Services0%0
IT Consulting-4.13%
Industry PE
  • Investors are most optimistic about the IT Consulting industry even though it's trading below its 3-year average PE ratio of 21.1x.
    • Analysts are expecting annual earnings growth of 9.2%, which is higher than its past year's earnings decline of 2.0% 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 2.0% 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$1.878.7%
+CA$4.2m		n/aPS88.6x
MTLO Martello Technologies GroupCA$0.01100.0%
+CA$2.9m		0%PS0.4x
CSTR CryptoStarCA$0.01100.0%
+CA$2.1m		-60.0%PS8.2x
ALYA Alithya GroupCA$1.670.6%
+CA$997.5k		1.2%PS0.3x
PVT PivotreeCA$1.821.1%
+CA$526.5k		78.4%PE13.7x

Latest News

ALYA
CA$1.67
Alithya Group
7D
0.6%
1Y
1.2%
ICS
CA$1.77
Integrated Cyber Solutions
7D
-6.8%
1Y
2,112.5%
GIB.A
CA$122.39
CGI
7D
-4.2%
1Y
-23.8%

GIB.A: Future Upside Will Depend On Resilient Organic Execution In Softer Markets

Analysts have trimmed their price targets on CGI, with one recent cut to $81 from $105 and another to C$149 from C$180. These changes reflect concerns about softer organic growth in certain regions and sectors, as well as the potential for downside risk to earnings estimates.
SIX
CA$0.055
Sixty Six Capital
7D
-15.4%
1Y
-42.1%
NERD
CA$0.09
Nerds on Site
7D
-10.0%
1Y
28.6%
HIDE
CA$0.27
Hydaway Digital
7D
5.9%
1Y
n/a
CCDS
CA$1.87
Carrier Connect Data Solutions
7D
8.7%
1Y
n/a
ECOM
CA$0.12
EMERGE Commerce
7D
-4.2%
1Y
109.1%

EMERGE Commerce Ltd.'s (CVE:ECOM) Share Price Boosted 35% But Its Business Prospects Need A Lift Too

Dec 13
EMERGE Commerce Ltd.'s (CVE:ECOM) Share Price Boosted 35% But Its Business Prospects Need A Lift Too
CSTR
CA$0.01
CryptoStar
7D
100.0%
1Y
-60.0%
PVT
CA$1.82
Pivotree
7D
1.1%
1Y
78.4%

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
MTLO
CA$0.01
Martello Technologies Group
7D
100.0%
1Y
0%