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Canadian (TSX) Tech Sector Analysis

UpdatedFeb 16, 2026
DataAggregated Company Financials
Companies115
  • 7D-6.1%
  • 3M-19.6%
  • 1Y-29.5%
  • YTD-19.8%

Over the last 7 days, the Tech industry has dropped 6.1%, driven by a pullback from Celestica of 12%. Meanwhile, Railtown AI Technologies actually outperformed within the industry, gaining 44% in the last week. Overall the industry is down 30% in 12 months. Earnings are forecast to grow by 24% annually.

Sector Valuation and Performance

Has the Canadian Tech Sector valuation changed over the past few years?

DateMarket CapRevenueEarningsPEAbsolute PEPS
Tue, 17 Feb 2026CA$160.3bCA$61.6bCA$2.9b25.3x54.9x2.6x
Thu, 15 Jan 2026CA$207.4bCA$60.5bCA$2.7b25.1x76.4x3.4x
Sat, 13 Dec 2025CA$203.3bCA$60.2bCA$2.7b25.7x75x3.4x
Mon, 10 Nov 2025CA$208.4bCA$60.8bCA$2.8b38.8x74.7x3.4x
Wed, 08 Oct 2025CA$213.9bCA$58.4bCA$2.7b38.8x80.2x3.7x
Fri, 05 Sep 2025CA$225.2bCA$58.1bCA$2.7b40.5x84.4x3.9x
Sun, 03 Aug 2025CA$228.3bCA$57.3bCA$2.6b41.6x88.4x4x
Tue, 01 Jul 2025CA$225.7bCA$55.6bCA$2.4b37.6x94.1x4.1x
Thu, 29 May 2025CA$221.5bCA$56.0bCA$2.4b29x90.8x4x
Sat, 26 Apr 2025CA$210.4bCA$55.4bCA$2.7b26.9x78.8x3.8x
Mon, 24 Mar 2025CA$204.6bCA$58.6bCA$2.2b24.1x93.9x3.5x
Wed, 19 Feb 2025CA$230.4bCA$57.5b-CA$239,675,278.2222.7x-961.3x4x
Fri, 17 Jan 2025CA$207.6bCA$57.2b-CA$443,335,386.3823.2x-468.3x3.6x
Sun, 15 Dec 2024CA$215.4bCA$56.8b-CA$405,954,241.1425.1x-530.7x3.8x
Tue, 12 Nov 2024CA$202.2bCA$56.0b-CA$350,841,481.8423.4x-576.2x3.6x
Thu, 10 Oct 2024CA$191.7bCA$54.0b-CA$565,185,135.1322.8x-339.1x3.6x
Sat, 07 Sep 2024CA$183.2bCA$53.6b-CA$615,341,960.2521.2x-297.8x3.4x
Mon, 05 Aug 2024CA$182.2bCA$53.6b-CA$1,306,832,691.0226.8x-139.4x3.4x
Wed, 03 Jul 2024CA$179.6bCA$52.4b-CA$1,455,856,281.0730.5x-123.4x3.4x
Fri, 31 May 2024CA$174.0bCA$52.6b-CA$1,429,758,246.1327.3x-121.7x3.3x
Sun, 28 Apr 2024CA$173.1bCA$53.1b-CA$2,281,393,552.1126.7x-75.9x3.3x
Tue, 26 Mar 2024CA$172.0bCA$52.3b-CA$2,934,970,131.8221x-58.6x3.3x
Thu, 22 Feb 2024CA$168.7bCA$51.4b-CA$892,530,689.7220.1x-189x3.3x
Sat, 20 Jan 2024CA$167.0bCA$52.1b-CA$2,246,949,887.0020.7x-74.3x3.2x
Mon, 18 Dec 2023CA$160.4bCA$52.0b-CA$2,326,903,617.0022.6x-68.9x3.1x
Wed, 15 Nov 2023CA$149.8bCA$52.6b-CA$2,473,265,388.0022.1x-60.6x2.9x
Fri, 13 Oct 2023CA$144.3bCA$51.4b-CA$2,580,565,372.0022.7x-55.9x2.8x
Sun, 10 Sep 2023CA$144.5bCA$51.3b-CA$2,602,026,183.0023.3x-55.5x2.8x
Tue, 08 Aug 2023CA$142.5bCA$50.0b-CA$3,021,822,288.0021x-47.2x2.8x
Thu, 06 Jul 2023CA$144.5bCA$48.9b-CA$2,372,668,842.0020.8x-60.9x3x
Sat, 03 Jun 2023CA$144.2bCA$48.9b-CA$2,647,605,122.0023.1x-54.5x2.9x
Mon, 01 May 2023CA$138.4bCA$48.2b-CA$1,916,714,002.0023.1x-72.2x2.9x
Wed, 29 Mar 2023CA$130.8bCA$46.6b-CA$1,227,718,400.0028.4x-106.5x2.8x
Fri, 24 Feb 2023CA$133.9bCA$47.8b-CA$1,099,754,550.0023.8x-121.7x2.8x
Price to Earnings Ratio

-121.7x


Total Market Cap: CA$133.9bTotal Earnings: -CA$1,099,754,550.00Total Revenue: CA$47.8bTotal Market Cap vs Earnings and Revenue0%0%0%
Canadian Tech Sector Price to Earnings3Y Average -118.9x202420252026
Current Industry PE
  • Investors are optimistic on the Canadian Information Technology industry, and appear confident in long term growth rates.
  • The industry is trading at a PE ratio of 54.9x which is higher than its 3-year average PE of -119x.
  • The 3-year average PS ratio of 3.7x is higher than the industry's current PS ratio of 2.6x.
Past Earnings Growth
  • Total earnings for the Information Technology industry have gone up over the last three years, and the industry is now profitable. Revenues have grown 8.8% per year.
  • This means that more sales are being generated by the industry overall, and subsequently profits are increasing too.

Industry Trends

Which industries have driven the changes within the Canadian Tech sector?

CA Market1.92%
Tech-6.09%
Communications2.77%
Tech Hardware0%0
Software-3.72%
Semiconductors-6.17%
Electronic Equipment and Components-8.72%
IT-10.04%
Industry PE
  • Investors are most optimistic about the Software industry which is trading above its 3-year average PE ratio of 206x.
    • Analysts are expecting annual earnings growth of 23.9%, which is higher than its past year's earnings growth of 12.9% per year.
Forecasted Growth
  • Analysts are most optimistic on the Electronic Equipment and Components industry, expecting annual earnings growth of 31% over the next 5 years.
  • However this is lower than its past earnings growth rate of 85% per year.
  • In contrast, the IT 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
RAIL Railtown AI TechnologiesCA$0.5244.4%
+CA$33.0m		11.8%PE-19.2x
VCM Vecima NetworksCA$11.1510.0%
+CA$24.6m		-5.1%PS1x
CYBE CyberCatch HoldingsCA$2.1645.9%
+CA$20.1m		260.0%PS176x
HAI Haivision SystemsCA$8.715.7%
+CA$13.0m		72.5%PE2087.7x
BLN Blackline SafetyCA$6.202.3%
+CA$12.2m		-14.6%PS3.6x

Latest News

VCM
CA$11.15
Vecima Networks
7D
10.0%
1Y
-5.1%

Vecima Networks Inc. (TSE:VCM) Analysts Are Pretty Bullish On The Stock After Recent Results

Feb 15
Vecima Networks Inc. (TSE:VCM) Analysts Are Pretty Bullish On The Stock After Recent Results
PNG
CA$7.39
Kraken Robotics
7D
-8.5%
1Y
188.7%

Kraken Robotics (CVE:PNG) Is Experiencing Growth In Returns On Capital

Feb 15
Kraken Robotics (CVE:PNG) Is Experiencing Growth In Returns On Capital
TOI
CA$85.28
Topicus.com
7D
-7.4%
1Y
-42.2%
GIB.A
CA$101.55
CGI
7D
-7.6%
1Y
-40.5%
LMN
CA$18.30
Lumine Group
7D
-8.5%
1Y
-53.4%
HAI
CA$8.71
Haivision Systems
7D
5.7%
1Y
72.5%

HAI: Upgrade And Buybacks Will Test Confidence In 2026 Guidance Execution

Analysts have lifted their price target on Haivision Systems from CA$8.13 to CA$10.19, pointing to adjustments in fair value, discount rate, revenue growth, profit margin, and future P/E assumptions following recent research updates such as the Canaccord upgrade. Analyst Commentary Bullish Takeaways Bullish analysts link the higher fair value estimate to a view that the revised assumptions on revenue growth and profit margins better reflect the company’s current positioning and recent research updates.
RAIL
CA$0.52
Railtown AI Technologies
7D
44.4%
1Y
11.8%
CSU
CA$2,356.67
Constellation Software
7D
-4.6%
1Y
-52.2%
DSG
CA$89.57
Descartes Systems Group
7D
-2.0%
1Y
-45.8%

DSG: Freight Headwinds And Buyback Plan Will Shape Bullish Upside Potential

Analysts have reduced their average 12 month price target on Descartes Systems Group to CA$134.07, with recent cuts from firms such as Scotiabank, Wolfe Research and Morgan Stanley offset by upgrades that point to a potential inflection in growth and relatively low valuation levels. Analyst Commentary Recent research paints a mixed picture for Descartes Systems Group, with some analysts leaning more positive on the long term setup while others are trimming expectations in the near term.
CLS
CA$381.72
Celestica
7D
-11.8%
1Y
103.7%

CLS: Index Inclusions And AI Storage Platform Will Support Future Upside

Analysts have raised their fair value estimate for Celestica from US$555.29 to US$556.49, citing updated assumptions around revenue growth, profit margins, discount rate, and future P/E as the main drivers of the new target. What's in the News Celestica issued earnings guidance for the first quarter of 2026, projecting revenue between US$3.85b and US$4.15b, with growth of 51% at the midpoint (Corporate guidance).
BITF
CA$2.93
Bitfarms
7D
-4.9%
1Y
46.5%

BITF: Liquidity Progress And Clearer Crypto Rules Will Support Future Expansion

Narrative Update: Bitfarms Analyst Price Target Shift Analysts have trimmed their price target on Bitfarms by a small amount to reflect increased focus on liquidity risk and a less supportive regulatory backdrop for crypto, while keeping only minor adjustments to the discount rate, revenue growth, profit margin, and future P/E assumptions. Analyst Commentary Recent research commentary on Bitfarms has shifted toward risk control, with a particular focus on liquidity and the policy backdrop for crypto.
BB
CA$4.71
BlackBerry
7D
0.2%
1Y
-41.5%
BLN
CA$6.20
Blackline Safety
7D
2.3%
1Y
-14.6%
IMP
CA$1.87
Intermap Technologies
7D
8.1%
1Y
-32.2%

Intermap Technologies Corporation's (TSE:IMP) Stock Retreats 25% But Revenues Haven't Escaped The Attention Of Investors

Jan 10
Intermap Technologies Corporation's (TSE:IMP) Stock Retreats 25% But Revenues Haven't Escaped The Attention Of Investors
CYBE
CA$2.16
CyberCatch Holdings
7D
45.9%
1Y
260.0%
ET
CA$15.00
Evertz Technologies
7D
1.1%
1Y
25.4%