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Canadian (TSX) Market Analysis & Valuation

UpdatedNov 10, 2025
DataAggregated Company Financials
Companies2211
  • 7D-0.7%
  • 3M7.3%
  • 1Y17.2%
  • YTD18.2%

The market has been flat in the last week, however the Information Technology sector is down 6.5%. Meanwhile, the market is actually up 17% over the past year. Looking forward, earnings are forecast to grow by 12% 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, 10 Nov 2025CA$4.7tCA$2.1tCA$220.4b16.3x21.1x2.2x
Wed, 08 Oct 2025CA$4.8tCA$2.2tCA$209.3b16.6x22.7x2.2x
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
Price to Earnings Ratio

13.8x


Total Market Cap: CA$3.3tTotal Earnings: CA$238.4bTotal Revenue: CA$2.0tTotal Market Cap vs Earnings and Revenue0%0%0%
Canadian Market Price to Earnings3Y Average 19.6x202320242025
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 19.6x.
Past Earnings Growth
  • The earnings for Canadian listed companies have declined 2.6% 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 Market-0.68%
Utilities1.10%
Consumer Discretionary0.50%
Energy0.49%
Telecom0.41%
Materials0.048%
Consumer Staples-0.06%
Financials-0.093%
Real Estate-1.96%
Industrials-4.11%
Healthcare-4.46%
Tech-6.45%
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 25.3%, which is higher than its past year's earnings growth of 21.8% per year.
Forecasted Growth
  • Analysts are most optimistic on the Healthcare sector, expecting annual earnings growth of 62% over the next 5 years.
  • This is better than its past earnings growth rate of 2.0% per year.
  • In contrast, the Telecom sector is expected to see its earnings decline by 11% 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
SU Suncor EnergyCA$59.767.3%
+CA$4.2b		10.5%PE13.6xEnergy
ENB EnbridgeCA$66.942.2%
+CA$3.1b		12.4%PE26.1xEnergy
TRP TC EnergyCA$73.264.2%
+CA$3.0b		6.0%PE20.5xEnergy
IFC Intact FinancialCA$280.176.4%
+CA$2.9b		4.5%PE16.7xFinancials
IMO Imperial OilCA$130.983.8%
+CA$2.4b		27.5%PE16.3xEnergy
See more

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LUN
CA$24.91
Lundin Mining
7D
11.0%
1Y
81.7%
BAM
CA$74.37
Brookfield Asset Management
7D
-2.7%
1Y
-7.6%
CSU
CA$3,385.76
Constellation Software
7D
-5.6%
1Y
-24.0%
ENB
CA$66.94
Enbridge
7D
2.2%
1Y
12.4%
CCO
CA$129.43
Cameco
7D
-8.7%
1Y
78.4%

CCO: Recent Asset Sales And M&A Activity Will Drive Shareholder Value

Analysts have raised their price target for Cameco to $146.44 from $124.81. They cite accelerating revenue growth and improving profit margins as key drivers behind the upward revision.
IFC
CA$280.17
Intact Financial
7D
6.4%
1Y
4.5%
FFH
CA$2,210.63
Fairfax Financial Holdings
7D
-1.3%
1Y
18.8%
TRI
CA$192.99
Thomson Reuters
7D
-11.8%
1Y
-18.1%
IMO
CA$130.98
Imperial Oil
7D
3.8%
1Y
27.5%

IMO: Profit Margins May Worsen as 20% Workforce Cuts Loom

Imperial Oil’s analyst price target has been raised modestly, with updates reflecting higher fair value estimates. Analysts point to balance sheet strength and shareholder returns as supporting factors.
TD
CA$113.58
Toronto-Dominion Bank
7D
-1.4%
1Y
43.3%
NTR
CA$79.83
Nutrien
7D
4.1%
1Y
17.4%

NTR: Portfolio Streamlining and Supply Tightness Will Shape Upside Amid Sector Scrutiny

Nutrien’s average analyst price target has edged slightly lower in recent weeks, as analysts weigh a modestly improving profit margin and fair value estimate against easing revenue growth and persistent caution over the agricultural cycle. Analyst Commentary Recent analyst activity around Nutrien highlights both opportunities and challenges for the company as it navigates ongoing market volatility and shifting sector dynamics.
SU
CA$59.76
Suncor Energy
7D
7.3%
1Y
10.5%

SU: Shares Will Remain Resilient As Cash Flow Yields Stay Strong

Suncor Energy's analyst fair value estimate has increased from C$62.55 to C$64.10. Analysts point to improving free cash flow yield, higher profit margin expectations, and sector resilience as key drivers for the upward revision.
TRP
CA$73.26
TC Energy
7D
4.2%
1Y
6.0%
CLS
CA$451.60
Celestica
7D
-8.0%
1Y
283.0%

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RY
CA$204.01
Royal Bank of Canada
7D
-1.5%
1Y
18.1%

RY: Price Momentum And Profitable Growth Will Balance Sector Headwinds Ahead

Analysts have recently increased their average price target for Royal Bank of Canada to C$218, reflecting expectations for continued earnings growth and stronger profitability metrics. Analyst Commentary Recent research from the street reflects a wide range of analyst opinion on Royal Bank of Canada, with several making notable adjustments to price targets and ratings.
BNS
CA$93.54
Bank of Nova Scotia
7D
1.3%
1Y
24.3%