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Canadian (TSX) Tech Sector Analysis

UpdatedDec 28, 2025
DataAggregated Company Financials
Companies114
  • 7D0.4%
  • 3M-1.0%
  • 1Y-2.5%
  • YTD-1.5%

Last week, the Tech industry hasn't moved much but Celestica is up 3.8% in that time. Furthermore, the industry has been flat for the past year as well. As for the next few years, earnings are expected to grow by 25% per annum.

Sector Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Sun, 28 Dec 2025CA$204.9bCA$59.9bCA$2.7b22.8x75.8x3.4x
Tue, 25 Nov 2025CA$198.3bCA$61.1bCA$2.7b22.3x72.6x3.2x
Thu, 23 Oct 2025CA$212.8bCA$58.5bCA$2.7b38.8x79.9x3.6x
Sat, 20 Sep 2025CA$225.7bCA$58.0bCA$2.7b39.6x84.5x3.9x
Mon, 18 Aug 2025CA$217.7bCA$58.0bCA$2.6b42.1x83.9x3.8x
Wed, 16 Jul 2025CA$228.9bCA$55.8bCA$2.4b38.9x95.2x4.1x
Fri, 13 Jun 2025CA$220.4bCA$55.5bCA$2.4b35.3x91.7x4x
Sun, 11 May 2025CA$219.7bCA$55.8bCA$3.2b26.5x68.1x3.9x
Tue, 08 Apr 2025CA$189.9bCA$58.2bCA$2.5b21.7x75.4x3.3x
Thu, 06 Mar 2025CA$211.4bCA$58.1b-CA$248,657,227.5423.6x-850.2x3.6x
Sat, 01 Feb 2025CA$223.8bCA$58.3b-CA$338,669,817.5822.1x-660.9x3.8x
Mon, 30 Dec 2024CA$210.8bCA$57.3b-CA$446,473,467.7725.5x-472.2x3.7x
Wed, 27 Nov 2024CA$209.3bCA$56.3b-CA$383,074,888.0126.7x-546.3x3.7x
Fri, 25 Oct 2024CA$193.1bCA$54.9b-CA$568,168,252.9924.1x-339.8x3.5x
Sun, 22 Sep 2024CA$191.5bCA$53.6b-CA$580,473,685.6123x-330x3.6x
Tue, 20 Aug 2024CA$188.1bCA$53.8b-CA$590,310,885.7622.1x-318.6x3.5x
Thu, 18 Jul 2024CA$190.5bCA$52.4b-CA$1,404,932,417.5732.2x-135.6x3.6x
Sat, 15 Jun 2024CA$175.8bCA$52.7b-CA$1,391,175,777.0528.1x-126.4x3.3x
Mon, 13 May 2024CA$174.0bCA$52.4b-CA$1,568,450,704.0327.7x-110.9x3.3x
Wed, 10 Apr 2024CA$175.3bCA$52.4b-CA$2,344,148,755.9921.1x-74.8x3.3x
Fri, 08 Mar 2024CA$176.1bCA$52.1b-CA$2,867,027,467.7822.1x-61.4x3.4x
Sun, 04 Feb 2024CA$174.6bCA$52.4b-CA$2,180,113,557.0019.7x-80.1x3.3x
Tue, 02 Jan 2024CA$159.4bCA$51.8b-CA$2,295,861,082.0020.4x-69.4x3.1x
Thu, 30 Nov 2023CA$154.1bCA$52.5b-CA$2,417,539,846.0022.7x-63.8x2.9x
Sat, 28 Oct 2023CA$135.7bCA$51.9b-CA$2,571,470,178.0021.7x-52.8x2.6x
Mon, 25 Sep 2023CA$140.2bCA$51.0b-CA$2,637,799,261.0024.1x-53.1x2.7x
Wed, 23 Aug 2023CA$142.0bCA$51.2b-CA$2,665,176,910.0023.7x-53.3x2.8x
Fri, 21 Jul 2023CA$146.1bCA$48.7b-CA$2,515,356,767.0021.3x-58.1x3x
Sun, 18 Jun 2023CA$142.2bCA$48.5b-CA$2,608,564,630.0021.1x-54.5x2.9x
Tue, 16 May 2023CA$139.4bCA$48.1b-CA$1,874,649,540.0021.9x-74.4x2.9x
Thu, 13 Apr 2023CA$136.9bCA$46.9b-CA$1,956,749,284.0028.5x-70x2.9x
Sat, 11 Mar 2023CA$132.8bCA$48.5b-CA$1,202,106,066.0022.8x-110.5x2.7x
Mon, 06 Feb 2023CA$135.9bCA$47.5b-CA$347,403,671.0023.8x-391.3x2.9x
Wed, 04 Jan 2023CA$122.1bCA$46.9bCA$628.9m21.5x194.2x2.6x
Price to Earnings Ratio

194.2x


Total Market Cap: CA$122.1bTotal Earnings: CA$628.9mTotal Revenue: CA$46.9bTotal Market Cap vs Earnings and Revenue0%0%0%
Canadian Tech Sector Price to Earnings3Y Average -117.1x20242025
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 75.8x which is higher than its 3-year average PE of -117x.
  • The industry is trading close to its 3-year average PS ratio of 3.7x.
Past Earnings Growth
  • The earnings for companies in the Information Technology industry have grown 63% per year over the last three years.
  • Revenues for these companies have grown 8.5% per year.
  • This means that more sales are being generated by these companies overall, and subsequently their profits are increasing too.

Industry Trends

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

CA Market0.90%
Tech0.44%
Electronic Equipment and Components3.69%
Communications2.16%
IT0.23%
Tech Hardware0%0
Software-0.84%
Semiconductors-3.09%
Industry PE
  • Investors are most optimistic about the Software industry which is trading above its 3-year average PE ratio of 167x.
    • Analysts are expecting annual earnings growth of 27.4%, which is higher than its past year's earnings growth of 6.9% per year.
Forecasted Growth
  • Analysts are most optimistic on the Software industry, expecting annual earnings growth of 27% over the next 5 years.
  • This is better than its past earnings growth rate of 6.9% per year.
  • In contrast, the IT industry is expected to see its earnings grow by 9.3% 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
CLS CelesticaCA$422.883.8%
+CA$1.8b		208.4%PE49.7x
ABXX Abaxx TechnologiesCA$53.0014.2%
+CA$238.3m		369.0%PS2352.8x
BB BlackBerryCA$5.465.4%
+CA$165.2m		-3.2%PE111.7x
BITF BitfarmsCA$3.664.9%
+CA$101.6m		56.4%PS5.8x
LMN Lumine GroupCA$27.351.0%
+CA$69.3m		-33.6%PE52.1x

Latest News

BITF
CA$3.66
Bitfarms
7D
4.9%
1Y
56.4%

Bitfarms Ltd.'s (TSE:BITF) 25% Dip Still Leaving Some Shareholders Feeling Restless Over Its P/SRatio

Dec 28
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ACT
CA$15.11
Aduro Clean Technologies
7D
-6.5%
1Y
65.3%
GIB.A
CA$128.36
CGI
7D
0.2%
1Y
-19.0%

GIB.A: Future Upside Will Depend On Generative AI And Tariff Resolution

Analysts have trimmed their fair value estimate for CGI slightly to $154.25 from about $155.08, reflecting a modestly higher discount rate and lower future P E assumptions as they balance concerns over softer organic growth in certain regions with ongoing opportunities tied to generative AI and easing tariff headwinds. Analyst Commentary Street research on CGI reflects a more balanced risk reward profile, with recent target cuts and rating changes highlighting both near term execution risks and longer term upside tied to structural themes like generative AI.
LMN
CA$27.35
Lumine Group
7D
1.0%
1Y
-33.6%

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Dec 20
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TOI
CA$126.52
Topicus.com
7D
0.4%
1Y
5.9%

Some Investors May Be Worried About Topicus.com's (CVE:TOI) Returns On Capital

Dec 20
Some Investors May Be Worried About Topicus.com's (CVE:TOI) Returns On Capital
BB
CA$5.46
BlackBerry
7D
5.4%
1Y
-3.2%
PNG
CA$6.26
Kraken Robotics
7D
3.3%
1Y
131.9%
CSU
CA$3,316.17
Constellation Software
7D
-1.7%
1Y
-26.9%
CVO
CA$6.81
Coveo Solutions
7D
-3.0%
1Y
2.9%

CVO: AI Demand And Cost Discipline Will Drive Shares Higher

Analysts have trimmed their price targets on Coveo Solutions, with the average moving lower in line with reduced fair value estimates to roughly C$13 from about C$15. They cite a slightly higher discount rate and more conservative profitability assumptions, despite firmer revenue growth expectations.
CLS
CA$422.88
Celestica
7D
3.8%
1Y
208.4%
DGX
CA$3.68
Digi Power X
7D
-9.6%
1Y
41.0%
DSG
CA$121.96
Descartes Systems Group
7D
-1.4%
1Y
-26.0%
ABXX
CA$53.00
Abaxx Technologies
7D
14.2%
1Y
369.0%
QNC
CA$5.02
Quantum eMotion
7D
-3.1%
1Y
325.4%
BTQ
CA$8.13
BTQ Technologies
7D
-8.1%
1Y
122.1%
KXS
CA$175.27
Kinaxis
7D
-0.9%
1Y
-0.3%