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Canadian (TSX) Market Analysis & Valuation

UpdatedSep 01, 2025
DataAggregated Company Financials
Companies2240
  • 7D1.4%
  • 3M7.0%
  • 1Y19.6%
  • YTD13.9%

Over the last 7 days, the market has risen 1.4%, driven by gains of 2.2% in the Financials sector. In the last year, the market has climbed 20%. Looking forward, earnings are forecast to grow by 11% annually.

Trending IndustriesOil and GasGoldBiotechSoftwareRenewable Energy

Market Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Mon, 01 Sep 2025CA$4.5tCA$2.1tCA$207.8b16x21.7x2.1x
Wed, 30 Jul 2025CA$4.4tCA$2.1tCA$191.4b16.4x22.8x2x
Fri, 27 Jun 2025CA$4.2tCA$2.1tCA$190.9b15.6x22.1x2x
Sun, 25 May 2025CA$4.1tCA$2.1tCA$193.6b14.7x21.4x2x
Tue, 22 Apr 2025CA$3.9tCA$2.1tCA$173.0b14.7x22.4x1.8x
Thu, 20 Mar 2025CA$3.9tCA$2.1tCA$172.6b15.1x22.8x1.8x
Sat, 15 Feb 2025CA$4.1tCA$2.1tCA$168.6b15x24.1x1.9x
Mon, 13 Jan 2025CA$3.9tCA$2.1tCA$171.3b14.5x22.5x1.8x
Wed, 11 Dec 2024CA$4.0tCA$2.1tCA$169.2b14.6x23.6x1.9x
Fri, 08 Nov 2024CA$3.9tCA$2.1tCA$168.5b14.9x23.2x1.8x
Sun, 06 Oct 2024CA$3.8tCA$2.1tCA$167.4b15.4x23x1.8x
Tue, 03 Sep 2024CA$3.7tCA$2.1tCA$167.6b15.4x22.3x1.8x
Thu, 01 Aug 2024CA$3.7tCA$2.1tCA$167.8b14.2x22.1x1.8x
Sat, 29 Jun 2024CA$3.5tCA$2.1tCA$166.5b14.2x21.2x1.7x
Mon, 27 May 2024CA$3.6tCA$2.0tCA$166.4b14.2x21.8x1.8x
Wed, 24 Apr 2024CA$3.5tCA$2.0tCA$174.5b13.9x20.3x1.7x
Fri, 22 Mar 2024CA$3.5tCA$2.0tCA$173.9b13.6x20.2x1.7x
Sun, 18 Feb 2024CA$3.4tCA$2.1tCA$177.4b13.5x19.2x1.6x
Tue, 16 Jan 2024CA$3.4tCA$2.1tCA$173.2b12.9x19.6x1.6x
Thu, 14 Dec 2023CA$3.2tCA$2.1tCA$172.3b12.3x18.8x1.6x
Sat, 11 Nov 2023CA$3.2tCA$2.1tCA$177.6b11.9x17.8x1.5x
Mon, 09 Oct 2023CA$3.1tCA$2.1tCA$185.2b11.2x16.9x1.5x
Wed, 06 Sep 2023CA$3.3tCA$2.1tCA$184.8b11.4x17.8x1.6x
Fri, 04 Aug 2023CA$3.3tCA$2.1tCA$182.3b12x17.9x1.6x
Sun, 02 Jul 2023CA$3.2tCA$2.1tCA$200.0b11x16.2x1.5x
Tue, 30 May 2023CA$3.2tCA$2.1tCA$200.3b11.1x16.1x1.5x
Thu, 27 Apr 2023CA$3.3tCA$2.1tCA$216.4b10.6x15.3x1.6x
Sat, 25 Mar 2023CA$3.1tCA$2.1tCA$214.7b10.5x14.6x1.5x
Mon, 20 Feb 2023CA$3.4tCA$2.1tCA$236.6b11x14.2x1.6x
Wed, 18 Jan 2023CA$3.4tCA$2.1tCA$245.1b10.8x13.7x1.6x
Fri, 16 Dec 2022CA$3.2tCA$2.1tCA$244.2b10.5x13.2x1.6x
Sun, 13 Nov 2022CA$3.3tCA$2.0tCA$241.1b10.4x13.8x1.6x
Tue, 11 Oct 2022CA$3.2tCA$2.1tCA$241.1b9.7x13.1x1.5x
Thu, 08 Sep 2022CA$3.2tCA$2.0tCA$235.7b10.3x13.5x1.6x
Price to Earnings Ratio

13.5x


Total Market Cap: CA$3.2tTotal Earnings: CA$235.7bTotal Revenue: CA$2.0tTotal Market Cap vs Earnings and Revenue0%0%0%
Canadian Market Price to Earnings3Y Average 19.1x202320242025
Current Market PE
  • Investors are optimistic on the Canadian market, and appear confident in strong long term growth rates.
  • The market is trading at a PE ratio of 21.7x which is higher than its 3-year average PE of 19.1x.
Past Earnings Growth
  • The earnings for Canadian listed companies have declined 4.1% per year over the last three years.
  • Meanwhile revenues for these companies have grown 2.4% per year.
  • This means that although more sales are being generated, either the cost of doing business or the level of investment back into businesses has increased, which has decreased profits.

Sector Trends

Which sectors have driven the changes within the Canadian Market?

CA Market1.40%
Materials3.08%
Financials2.22%
Healthcare1.66%
Energy0.99%
Tech0.80%
Industrials0.72%
Real Estate0.04%
Consumer Staples-0.47%
Telecom-0.73%
Consumer Discretionary-0.97%
Utilities-1.01%
Sector PE
  • Investors favour the Tech sector the most for future growth which is trading above its 3-year average PE ratio.
    • Analysts are expecting annual earnings growth of 19.5%, which is lower than the prior year's growth of 30.1% per year.
Forecasted Growth
  • Analysts are most optimistic on the Healthcare sector, expecting annual earnings growth of 54% over the next 5 years.
  • This is better than its past earnings decline of 5.5% per year.
  • In contrast, the Energy sector is expected to see its earnings grow by 3.9% 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$199.585.7%
+CA$14.0b		22.5%PB2.3xFinancials
BNS Bank of Nova ScotiaCA$85.777.8%
+CA$7.4b		27.5%PB1.3xFinancials
BMO Bank of MontrealCA$166.195.3%
+CA$5.1b		47.4%PB1.4xFinancials
CM Canadian Imperial Bank of CommerceCA$106.095.4%
+CA$4.6b		34.7%PB1.6xFinancials
CP Canadian Pacific Kansas CityCA$104.612.8%
+CA$2.7b		-6.5%PE23xIndustrials
See more

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NTR
CA$79.15
Nutrien
7D
-2.0%
1Y
21.3%
CM
CA$106.09
Canadian Imperial Bank of Commerce
7D
5.4%
1Y
34.7%
DOL
CA$187.26
Dollarama
7D
-3.0%
1Y
37.2%

Expansion In Canada, Mexico And Australia Will Unlock New Markets

Analysts have modestly lowered Dollarama’s price target to CA$196.73, balancing confidence in resilient sales and margin improvements against concerns over slower earnings growth, macroeconomic headwinds, and valuation pressures. Analyst Commentary Bullish analysts cite continued strength in same-store sales growth and sustained high demand for value retail.
BNS
CA$85.77
Bank of Nova Scotia
7D
7.8%
1Y
27.5%
RY
CA$199.58
Royal Bank of Canada
7D
5.7%
1Y
22.5%
NA
CA$144.36
National Bank of Canada
7D
-4.1%
1Y
16.9%
FTS
CA$68.35
Fortis
7D
-1.8%
1Y
15.3%
CSU
CA$4,550.34
Constellation Software
7D
1.8%
1Y
3.4%

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BMO
CA$166.19
Bank of Montreal
7D
5.3%
1Y
47.4%
CP
CA$104.61
Canadian Pacific Kansas City
7D
2.8%
1Y
-6.5%
BAM
CA$82.65
Brookfield Asset Management
7D
-0.8%
1Y
50.4%
L
CA$56.09
Loblaw Companies
7D
-1.2%
1Y
27.6%

Loblaw Companies (TSE:L) Has Announced A Dividend Of CA$0.1411

Aug 21
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QSP.UN
CA$86.51
Restaurant Brands International Limited Partnership
7D
-2.4%
1Y
-7.3%
BCE
CA$34.27
BCE
7D
-2.0%
1Y
-27.4%
K
CA$28.71
Kinross Gold
7D
5.0%
1Y
135.7%

Persistent Inflation And Uncertainty Will Sustain High Gold Prices

Despite a sharp reduction in forecasted revenue growth and a notable increase in the forward P/E multiple, analysts have raised Kinross Gold's consensus price target from CA$24.41 to CA$26.17. What's in the News Kinross Gold reaffirmed 2025 production guidance, remaining on track to produce 2 million ounces at a cost of sales of $1,120 per ounce and all-in sustaining cost of $1,500 per ounce, with production expected to be evenly split between the remaining quarters.
WPM
CA$137.92
Wheaton Precious Metals
7D
4.2%
1Y
65.6%

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Wheaton Precious Metals’ fair value has increased—reflected in the higher analyst price target—as consensus expectations for future revenue growth and valuations have both risen substantially. What's in the News Q1 2025 gold production increased slightly to 92,681 ounces, while silver and palladium output declined to 4,733 ounces and 2,661 ounces, respectively.