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Canadian (TSX) Market Analysis & Valuation

UpdatedJul 16, 2026
DataAggregated Company Financials
Companies2192
  • 7D1.3%
  • 3M3.4%
  • 1Y29.8%
  • YTD11.9%

Over the last 7 days, the market has risen 1.3%, driven by gains of 3.9% in the Financials sector. On the other hand, with a decline of 4.3%, the Information Technology sector is lagging behind. The market is up 30% over the last 12 months. As for the next few years, earnings are expected to grow by 11% per annum.

Trending IndustriesOil and GasGoldBiotechSoftwareRenewable Energy

Market Valuation and Performance

Has the Canadian Market valuation changed over the past few years?

DateMarket CapRevenueEarningsPEAbsolute PEPS
Thu, 16 Jul 2026CA$5.5tCA$2.2tCA$244.8b16.5x22.6x2.5x
Sat, 13 Jun 2026CA$5.5tCA$2.2tCA$243.9b16x22.4x2.4x
Mon, 11 May 2026CA$5.4tCA$2.2tCA$244.3b16.7x22.1x2.4x
Wed, 08 Apr 2026CA$5.2tCA$2.2tCA$241.3b16.1x21.6x2.4x
Fri, 06 Mar 2026CA$5.3tCA$2.1tCA$236.0b17.1x22.6x2.5x
Sun, 01 Feb 2026CA$5.0tCA$2.1tCA$224.1b16.8x22.4x2.4x
Tue, 30 Dec 2025CA$4.9tCA$2.1tCA$224.4b16.5x22x2.3x
Thu, 27 Nov 2025CA$4.8tCA$2.1tCA$224.4b16.2x21.3x2.2x
Sat, 25 Oct 2025CA$4.7tCA$2.2tCA$215.4b16.8x21.8x2.2x
Mon, 22 Sep 2025CA$4.7tCA$2.1tCA$208.7b16.4x22.3x2.2x
Wed, 20 Aug 2025CA$4.4tCA$2.1tCA$201.8b15.7x21.8x2.1x
Fri, 18 Jul 2025CA$4.3tCA$2.1tCA$191.9b16.1x22.6x2x
Sun, 15 Jun 2025CA$4.3tCA$2.1tCA$191.5b15.4x22.3x2x
Tue, 13 May 2025CA$4.1tCA$2.1tCA$180.1b14.7x22.6x1.9x
Thu, 10 Apr 2025CA$3.6tCA$2.1tCA$173.6b14.4x20.7x1.7x
Sat, 08 Mar 2025CA$3.9tCA$2.1tCA$173.8b14.8x22.5x1.8x
Mon, 03 Feb 2025CA$3.9tCA$2.1tCA$170.8b14.6x23.1x1.8x
Wed, 01 Jan 2025CA$3.9tCA$2.1tCA$169.1b14.2x22.8x1.8x
Fri, 29 Nov 2024CA$4.0tCA$2.1tCA$166.3b14.7x23.9x1.9x
Sun, 27 Oct 2024CA$3.9tCA$2.1tCA$167.7b15.3x23.3x1.8x
Tue, 24 Sep 2024CA$3.8tCA$2.1tCA$167.5b15.2x22.7x1.8x
Thu, 22 Aug 2024CA$3.7tCA$2.1tCA$169.8b14.9x21.7x1.8x
Sat, 20 Jul 2024CA$3.7tCA$2.1tCA$167.7b13.9x21.8x1.8x
Mon, 17 Jun 2024CA$3.5tCA$2.1tCA$167.4b14.1x20.8x1.7x
Wed, 15 May 2024CA$3.6tCA$2.0tCA$167.8b14.1x21.5x1.8x
Fri, 12 Apr 2024CA$3.6tCA$2.1tCA$174.4b14.1x20.5x1.7x
Sun, 10 Mar 2024CA$3.5tCA$2.1tCA$173.3b13.7x20.1x1.7x
Tue, 06 Feb 2024CA$3.3tCA$2.1tCA$172.9b12.8x19.4x1.6x
Thu, 04 Jan 2024CA$3.4tCA$2.1tCA$173.1b13x19.4x1.6x
Sat, 02 Dec 2023CA$3.2tCA$2.1tCA$176.2b12.3x18.4x1.6x
Mon, 30 Oct 2023CA$3.1tCA$2.1tCA$184.5b11.3x16.5x1.5x
Wed, 27 Sep 2023CA$3.2tCA$2.1tCA$184.4b11.6x17.3x1.5x
Fri, 25 Aug 2023CA$3.2tCA$2.1tCA$185.8b11.4x17.2x1.5x
Sun, 23 Jul 2023CA$3.3tCA$2.1tCA$200.2b11.7x16.5x1.6x
Price to Earnings Ratio

16.5x


Total Market Cap: CA$3.3tTotal Earnings: CA$200.2bTotal Revenue: CA$2.1tTotal Market Cap vs Earnings and Revenue0%0%0%
Canadian Market Price to Earnings3Y Average 21.3x202420252026
Current Market PE
  • Investors are relatively neutral on the Canadian market at the moment, indicating that they expect earnings will grow in line with historical growth rates.
  • The market is trading close to its 3-year average PE ratio of 21.3x.
Past Earnings Growth
  • The earnings for Canadian listed companies have grown 6.9% per year over the last three years, while revenues have remained steady.
  • This means that companies overall are more efficiently conducting business since profits are increasing while sales have been flat.

Sector Trends

Which sectors have driven the changes within the Canadian Market?

CA Market1.33%
Financials3.87%
Consumer Discretionary0.94%
Materials0.62%
Industrials0.59%
Energy0.08%
Telecom-0.20%
Real Estate-0.41%
Utilities-0.97%
Healthcare-1.07%
Consumer Staples-1.31%
Tech-4.30%
Sector PE
  • Investors favour the Tech sector the most for future growth which is trading above its 3-year average PE ratio.
    • The market's confidence is likely because analysts are expecting annual earnings growth of 21.6%, which is higher than its past year's earnings growth of 6.7% per year.
Forecasted Growth
  • Analysts are most optimistic on the Real Estate sector, expecting annual earnings growth of 41% over the next 5 years.
  • This is better than its past earnings decline of 6.5% per year.
  • In contrast, the Telecom sector is expected to see its earnings decline by 6.9% per year over the next few years.

Top Stock Gainers and Losers

Which companies have driven the market over the last 7 days?

CompanyLast Price7D1YValuationSector
RY Royal Bank of CanadaCA$305.744.8%
+CA$19.6b		69.3%PB3.3xFinancials
TD Toronto-Dominion BankCA$175.274.4%
+CA$12.2b		73.0%PB2.4xFinancials
BNS Bank of Nova ScotiaCA$126.865.4%
+CA$8.0b		68.4%PB1.8xFinancials
BMO Bank of MontrealCA$257.764.3%
+CA$7.5b		65.6%PB2.1xFinancials
CM Canadian Imperial Bank of CommerceCA$169.484.9%
+CA$7.2b		70.5%PB2.4xFinancials
See more

Market Insights

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Latest News

IMO
CA$169.02
Imperial Oil
7D
-1.6%
1Y
50.7%
BAM
CA$68.83
Brookfield Asset Management
7D
6.9%
1Y
-15.2%
CCO
CA$127.69
Cameco
7D
-4.9%
1Y
22.5%
BNS
CA$126.86
Bank of Nova Scotia
7D
5.4%
1Y
68.4%
BBD.B
CA$321.41
Bombardier
7D
-5.1%
1Y
96.5%
TD
CA$175.27
Toronto-Dominion Bank
7D
4.4%
1Y
73.0%
RY
CA$305.74
Royal Bank of Canada
7D
4.8%
1Y
69.3%
IFC
CA$295.17
Intact Financial
7D
-2.5%
1Y
-2.7%
Narrative Update • Jul 14

IFC: Catastrophe Headwinds And Higher P E Multiple Will Shape Forward Returns

Intact Financial's analyst price target has been revised higher by CA$6.62 to CA$320.54, as analysts factor in recent target increases from CIBC and Barclays while balancing earlier trims from RBC Capital and TD Securities. Analyst Commentary Recent research updates around Intact Financial give a mixed but useful read on how the stock is being framed in terms of valuation, execution and growth potential.
FFH
CA$2,326.80
Fairfax Financial Holdings
7D
-2.9%
1Y
-5.0%
Narrative Update • Jul 13

FFH: Share Repurchases Will Support Future Upside In Softer Insurance Cycle

Analysts have lifted their fair value estimate for Fairfax Financial Holdings from about CA$3,301.88 to roughly CA$3,446.01. This reflects updated views on revenue growth, margins and future P/E in light of recent Neutral-rated Street research that sees the stock as fairly valued in a softer commercial insurance and reinsurance cycle.
BMO
CA$257.76
Bank of Montreal
7D
4.3%
1Y
65.6%
CSU
CA$2,671.77
Constellation Software
7D
-4.2%
1Y
-46.3%
Narrative Update • Jul 10

CSU: Raised Outlook And Acquisitions Will Support Long-Term Earnings Power

Analysts have trimmed their consolidated price target for Constellation Software to about CA$4,008 from roughly CA$4,211. The change reflects updated models that factor in higher expense levels and hardware cost pressures, despite mixed target moves across firms.
MFC
CA$60.49
Manulife Financial
7D
3.8%
1Y
45.1%
NA
CA$235.32
National Bank of Canada
7D
5.5%
1Y
66.3%
CLS
CA$470.76
Celestica
7D
-7.7%
1Y
114.9%
CM
CA$169.48
Canadian Imperial Bank of Commerce
7D
4.9%
1Y
70.5%
ATD
CA$88.98
Alimentation Couche-Tard
7D
-4.5%
1Y
30.2%
Narrative Update • Jun 30

ATD: Record Q4 Execution And U.S. Momentum May Support Further Upside

The analyst price target for Alimentation Couche-Tard has been raised from about CA$93 to roughly CA$102. Analysts attribute the change to updated models around the recent fiscal Q4 report and continued supportive views from firms maintaining Outperform or equivalent ratings.