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Canadian (TSX) Market Analysis & Valuation

UpdatedSep 05, 2025
DataAggregated Company Financials
Companies2230
  • 7D1.4%
  • 3M8.1%
  • 1Y22.5%
  • YTD15.0%

The market has climbed 1.4% in the last 7 days, lead by the Materials sector with a gain of 4.3%. The market is up 23% 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
Fri, 05 Sep 2025CA$4.5tCA$2.1tCA$208.6b16.3x21.7x2.1x
Sun, 03 Aug 2025CA$4.3tCA$2.1tCA$195.2b15.8x22x2x
Tue, 01 Jul 2025CA$4.2tCA$2.1tCA$191.5b15.8x22.2x2x
Thu, 29 May 2025CA$4.2tCA$2.1tCA$191.6b14.9x21.9x2x
Sat, 26 Apr 2025CA$3.9tCA$2.1tCA$174.0b14.9x22.7x1.9x
Mon, 24 Mar 2025CA$4.0tCA$2.1tCA$173.6b14.9x22.9x1.9x
Wed, 19 Feb 2025CA$4.0tCA$2.1tCA$168.7b15.2x23.9x1.9x
Fri, 17 Jan 2025CA$3.9tCA$2.1tCA$171.2b14.7x22.5x1.8x
Sun, 15 Dec 2024CA$3.9tCA$2.1tCA$169.3b14.5x23.3x1.9x
Tue, 12 Nov 2024CA$3.9tCA$2.1tCA$167.5b14.8x23.4x1.8x
Thu, 10 Oct 2024CA$3.8tCA$2.1tCA$167.8b15.4x22.8x1.8x
Sat, 07 Sep 2024CA$3.6tCA$2.1tCA$167.4b14.8x21.8x1.7x
Mon, 05 Aug 2024CA$3.6tCA$2.1tCA$167.2b13.8x21.4x1.7x
Wed, 03 Jul 2024CA$3.5tCA$2.1tCA$166.4b14x21.2x1.7x
Fri, 31 May 2024CA$3.6tCA$2.1tCA$166.7b14.2x21.5x1.8x
Sun, 28 Apr 2024CA$3.5tCA$2.1tCA$173.1b13.9x20.4x1.7x
Tue, 26 Mar 2024CA$3.5tCA$2.0tCA$173.4b13.6x20.2x1.7x
Thu, 22 Feb 2024CA$3.4tCA$2.1tCA$175.0b13.6x19.5x1.6x
Sat, 20 Jan 2024CA$3.4tCA$2.1tCA$173.2b12.9x19.4x1.6x
Mon, 18 Dec 2023CA$3.3tCA$2.1tCA$172.9b12.4x19.1x1.6x
Wed, 15 Nov 2023CA$3.2tCA$2.1tCA$179.5b11.9x17.7x1.5x
Fri, 13 Oct 2023CA$3.2tCA$2.1tCA$185.2b11.5x17.2x1.5x
Sun, 10 Sep 2023CA$3.2tCA$2.1tCA$184.9b11.7x17.5x1.5x
Tue, 08 Aug 2023CA$3.3tCA$2.1tCA$184.4b11.7x17.8x1.6x
Thu, 06 Jul 2023CA$3.2tCA$2.1tCA$200.3b11.2x16.2x1.5x
Sat, 03 Jun 2023CA$3.2tCA$2.1tCA$200.0b11.1x16.2x1.5x
Mon, 01 May 2023CA$3.4tCA$2.1tCA$214.6b11.2x15.7x1.6x
Wed, 29 Mar 2023CA$3.2tCA$2.1tCA$219.2b10.5x14.8x1.5x
Fri, 24 Feb 2023CA$3.3tCA$2.1tCA$235.0b11x14.1x1.6x
Sun, 22 Jan 2023CA$3.4tCA$2.1tCA$245.1b10.7x13.7x1.6x
Tue, 20 Dec 2022CA$3.2tCA$2.1tCA$243.4b10.3x13x1.5x
Thu, 17 Nov 2022CA$3.3tCA$2.0tCA$238.4b10.3x13.8x1.6x
Sat, 15 Oct 2022CA$3.1tCA$2.1tCA$241.6b9.5x12.9x1.5x
Mon, 12 Sep 2022CA$3.4tCA$2.1tCA$239.0b10.6x14x1.6x
Price to Earnings Ratio

14x


Total Market Cap: CA$3.4tTotal Earnings: CA$239.0bTotal Revenue: CA$2.1tTotal 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 4.4% per year over the last three years.
  • Meanwhile revenues have been flat.
  • This means that either the cost of doing business or the level of investment back into businesses is increasing since sales have remained steady while profits have fallen.

Sector Trends

Which sectors have driven the changes within the Canadian Market?

CA Market1.37%
Materials4.27%
Consumer Staples2.81%
Tech2.74%
Consumer Discretionary1.53%
Financials1.27%
Real Estate0.71%
Industrials0.57%
Telecom0.36%
Energy-0.39%
Utilities-0.58%
Healthcare-6.76%
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 52% 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
BMO Bank of MontrealCA$173.135.5%
+CA$6.5b		54.4%PB1.5xFinancials
TD Toronto-Dominion BankCA$103.333.1%
+CA$5.2b		26.4%PB1.4xFinancials
ATD Alimentation Couche-TardCA$74.117.7%
+CA$4.5b		-1.7%PE19.6xConsumer Staples
CSU Constellation SoftwareCA$4.61k4.1%
+CA$3.9b		10.1%PE110.1xTech
WPM Wheaton Precious MetalsCA$142.056.2%
+CA$3.8b		75.7%PE59.1xMaterials
See more

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GWO
CA$54.69
Great-West Lifeco
7D
-0.6%
1Y
22.9%
CM
CA$109.42
Canadian Imperial Bank of Commerce
7D
3.3%
1Y
35.6%
ATD
CA$74.11
Alimentation Couche-Tard
7D
7.7%
1Y
-1.7%
ABX
CA$37.66
Barrick Mining
7D
4.1%
1Y
43.2%

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BAM
CA$81.62
Brookfield Asset Management
7D
-2.3%
1Y
46.6%
NTR
CA$78.79
Nutrien
7D
-2.6%
1Y
25.4%
TD
CA$103.33
Toronto-Dominion Bank
7D
3.1%
1Y
26.4%
CCO
CA$105.52
Cameco
7D
-2.4%
1Y
105.1%

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Cameco’s consensus revenue growth forecast has edged down from 2.8% to 2.6% per annum while net profit margin remains steady, resulting in a marginal increase in its analyst price target from CA$112.69 to CA$114.75. What's in the News Cameco and Orano Canada signed a 15-year, $500 million workforce transportation agreement with Indigenous-owned Rise Air to support northern Saskatchewan operations, marking the largest and longest partnership with the airline.
BNS
CA$87.85
Bank of Nova Scotia
7D
2.4%
1Y
28.4%
CSU
CA$4,605.40
Constellation Software
7D
4.1%
1Y
10.1%

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BMO
CA$173.13
Bank of Montreal
7D
5.5%
1Y
54.4%
IMO
CA$120.93
Imperial Oil
7D
-2.7%
1Y
28.2%
SU
CA$55.59
Suncor Energy
7D
-2.8%
1Y
8.3%
CVE
CA$22.80
Cenovus Energy
7D
-2.3%
1Y
-1.9%

Narrows Lake And West White Rose Will Secure Long-Life Production

Analysts have raised Cenovus Energy’s price target to CA$27.40, citing confidence in value creation from recent acquisitions—particularly the MEG Energy takeover—and execution on strategic priorities. Analyst Commentary Bullish analysts are raising price targets in recognition of Cenovus Energy’s value creation through its successful track record of upstream acquisitions.
PVF.UN
CA$17.00
Partners Value Investments
7D
-5.6%
1Y
78.9%
WPM
CA$142.05
Wheaton Precious Metals
7D
6.2%
1Y
75.7%

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