Investing IdeasBrowse All StocksMarkets
Have your own idea? Try our Stock Screener
Header cover image

Canadian (TSX) Market Analysis & Valuation

UpdatedAug 27, 2025
DataAggregated Company Financials
Companies2234
  • 7D1.9%
  • 3M6.8%
  • 1Y18.7%
  • YTD12.8%

The market is up 1.9% over the last week, with the Materials sector leading the way, up 7.2%. On the other hand, with a decline of 3.1%, the Consumer Staples sector is lagging behind. In the last year, the market has climbed 19%. 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
Wed, 27 Aug 2025CA$4.4tCA$2.1tCA$202.9b16.1x21.9x2.1x
Fri, 25 Jul 2025CA$4.4tCA$2.1tCA$190.6b16.3x22.9x2.1x
Sun, 22 Jun 2025CA$4.3tCA$2.1tCA$191.8b15.3x22.3x2x
Tue, 20 May 2025CA$4.1tCA$2.1tCA$183.5b14.4x22.2x1.9x
Thu, 17 Apr 2025CA$3.8tCA$2.1tCA$173.1b15.2x22.2x1.8x
Sat, 15 Mar 2025CA$3.9tCA$2.1tCA$174.3b14.9x22.1x1.8x
Mon, 10 Feb 2025CA$4.0tCA$2.1tCA$168.6b14.6x24x1.9x
Wed, 08 Jan 2025CA$3.9tCA$2.1tCA$171.0b14.5x22.7x1.8x
Fri, 06 Dec 2024CA$4.0tCA$2.1tCA$169.1b14.6x23.6x1.9x
Sun, 03 Nov 2024CA$3.9tCA$2.1tCA$168.8b14.9x22.8x1.8x
Tue, 01 Oct 2024CA$3.8tCA$2.1tCA$167.7b15.4x22.8x1.8x
Thu, 29 Aug 2024CA$3.7tCA$2.1tCA$166.5b14.9x22.4x1.8x
Sat, 27 Jul 2024CA$3.6tCA$2.1tCA$167.8b14.2x21.7x1.8x
Mon, 24 Jun 2024CA$3.5tCA$2.1tCA$166.9b14.1x20.8x1.7x
Wed, 22 May 2024CA$3.6tCA$2.0tCA$167.0b14.2x21.8x1.8x
Fri, 19 Apr 2024CA$3.5tCA$2.1tCA$174.7b13.9x20x1.7x
Sun, 17 Mar 2024CA$3.5tCA$2.1tCA$173.4b13.5x20.2x1.7x
Tue, 13 Feb 2024CA$3.4tCA$2.1tCA$176.8b13.3x19x1.6x
Thu, 11 Jan 2024CA$3.4tCA$2.1tCA$173.3b13x19.5x1.6x
Sat, 09 Dec 2023CA$3.3tCA$2.1tCA$172.3b12.2x18.9x1.6x
Mon, 06 Nov 2023CA$3.2tCA$2.1tCA$180.7b12.1x17.7x1.5x
Wed, 04 Oct 2023CA$3.1tCA$2.1tCA$185.4b11.3x16.8x1.5x
Fri, 01 Sep 2023CA$3.3tCA$2.1tCA$184.6b11.8x17.7x1.5x
Sun, 30 Jul 2023CA$3.3tCA$2.1tCA$191.2b11.9x17.2x1.6x
Tue, 27 Jun 2023CA$3.2tCA$2.1tCA$200.0b11x15.8x1.5x
Thu, 25 May 2023CA$3.2tCA$2.1tCA$205.6b11x15.7x1.5x
Sat, 22 Apr 2023CA$3.4tCA$2.1tCA$217.9b10.8x15.5x1.6x
Mon, 20 Mar 2023CA$3.1tCA$2.1tCA$211.2b10.7x14.5x1.5x
Wed, 15 Feb 2023CA$3.4tCA$2.1tCA$237.5b10.9x14.3x1.6x
Fri, 13 Jan 2023CA$3.3tCA$2.1tCA$245.1b10.9x13.6x1.6x
Sun, 11 Dec 2022CA$3.3tCA$2.1tCA$244.0b10.7x13.5x1.6x
Tue, 08 Nov 2022CA$3.2tCA$2.0tCA$241.5b10x13.3x1.6x
Thu, 06 Oct 2022CA$3.2tCA$2.1tCA$240.8b9.9x13.5x1.5x
Sat, 03 Sep 2022CA$3.2tCA$2.0tCA$235.6b10.3x13.7x1.6x
Price to Earnings Ratio

13.7x


Total Market Cap: CA$3.2tTotal Earnings: CA$235.6bTotal Revenue: CA$2.0tTotal Market Cap vs Earnings and Revenue0%0%0%
Canadian Market Price to Earnings3Y Average 19x202320242025
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 21.9x which is higher than its 3-year average PE of 19.0x.
Past Earnings Growth
  • The earnings for Canadian listed companies have declined 4.9% per year over the last three years.
  • Meanwhile revenues for these companies have grown 2.5% 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 Market1.91%
Materials7.15%
Healthcare6.68%
Energy2.98%
Tech2.06%
Financials1.31%
Industrials0.53%
Real Estate-0.43%
Utilities-0.77%
Consumer Discretionary-0.89%
Telecom-1.06%
Consumer Staples-3.09%
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 22.2% 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 growth rate of 4.4% 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
BNS Bank of Nova ScotiaCA$84.988.2%
+CA$8.0b		26.4%PB1.3xFinancials
ABX Barrick MiningCA$37.0411.4%
+CA$6.4b		34.7%PE16.5xMaterials
BMO Bank of MontrealCA$165.165.3%
+CA$6.0b		47.4%PB1.4xFinancials
CVE Cenovus EnergyCA$23.1212.2%
+CA$4.5b		-8.4%PE15.7xEnergy
TD Toronto-Dominion BankCA$104.092.4%
+CA$4.1b		29.7%PB1.5xFinancials
See more

Market Insights

Header cover image
📊 Leveraged Upside and Downside With Bitcoin Treasury Companies
Michael Paige avatar
Michael Paige
|
|
Market sentiment on BTC treasury companies is moving, and with volatility rising, disagreements over their future prospects are as heated as ever.
Continue reading
₿ Bitcoin ETFs: Success Comes With Risks
Last Week

₿ Bitcoin ETFs: Success Comes With Risks

Latest News

ABX
CA$37.04
Barrick Mining
7D
11.4%
1Y
34.7%

Gold And Copper Capacity Expansion Will Capture Future Demand

Barrick Mining’s future P/E ratio has increased significantly, indicating higher growth expectations or a more expensive valuation despite a decline in net profit margin, resulting in a nearly unchanged consensus analyst price target of CA$37.98. What's in the News Barrick Mining issued 2025 guidance with expected gold production of 3.15–3.5 million ounces and copper production of 200,000–230,000 tonnes.
CVE
CA$23.12
Cenovus Energy
7D
12.2%
1Y
-8.4%

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.
TD
CA$104.09
Toronto-Dominion Bank
7D
2.4%
1Y
29.7%

Canadian Market Expansion And AI Investments Will Improve Future Operational Efficiency

Toronto-Dominion Bank’s consensus price target was modestly raised to CA$103.71 as analysts cited improved near-term earnings prospects driven by declining loan losses and higher net interest income, partially offset by ongoing sector headwinds and macroeconomic uncertainty. Analyst Commentary Improved sequential earnings prospects in Q3 based on declining losses on performing loans and higher net interest income.
BMO
CA$165.16
Bank of Montreal
7D
5.3%
1Y
47.4%

Portfolio Optimization And Digital Expansion Will Strengthen Future Performance

Despite a reduction in consensus revenue growth forecasts, a higher anticipated future P/E multiple has driven an increase in Bank of Montreal’s analyst price target from CA$158.53 to CA$163.71. What's in the News Bank of Montreal (BMO) and Royal Bank of Canada (RBC) are exploring the sale of their Canadian payments joint venture, Moneris Solutions, in a deal that could value the business at up to $2 billion; the process is in early stages and a sale is not guaranteed (Reuters, Key Developments, 2025-08-14).
BNS
CA$84.98
Bank of Nova Scotia
7D
8.2%
1Y
26.4%

Mortgage+ And Scene+ Initiatives Will Strengthen Future Client Acquisition And Earnings Stability

Despite a notable drop in revenue growth forecasts and a higher future P/E ratio, analysts have modestly raised Bank of Nova Scotia's consensus price target to CA$83.36. What's in the News Apollo's insurer Athene defended its asset allocation practices, showing that only 12% of its assets are "related party" compared to higher percentages at rival firms, including KKR's Global Atlantic and Brookfield's American National Insurance (Financial Times, 2025-08-18).
FNV
CA$257.04
Franco-Nevada
7D
6.9%
1Y
53.6%
IFC
CA$272.32
Intact Financial
7D
-2.2%
1Y
7.7%

Intact Financial Corporation's (TSE:IFC) Business Is Yet to Catch Up With Its Share Price

Aug 26
Intact Financial Corporation's (TSE:IFC) Business Is Yet to Catch Up With Its Share Price
L
CA$55.74
Loblaw Companies
7D
-5.1%
1Y
28.9%

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

Aug 21
Loblaw Companies (TSE:L) Has Announced A Dividend Of CA$0.1411
MFC
CA$41.63
Manulife Financial
7D
-1.2%
1Y
13.0%
WN
CA$87.58
George Weston
7D
-3.4%
1Y
19.2%
ATD
CA$68.84
Alimentation Couche-Tard
7D
-2.1%
1Y
-13.4%

Is There An Opportunity With Alimentation Couche-Tard Inc.'s (TSE:ATD) 44% Undervaluation?

Aug 18
Is There An Opportunity With Alimentation Couche-Tard Inc.'s (TSE:ATD) 44% Undervaluation?
EMP.A
CA$53.89
Empire
7D
-6.8%
1Y
40.9%

Empire Company Limited's (TSE:EMP.A) Price Is Out Of Tune With Earnings

Aug 12
Empire Company Limited's (TSE:EMP.A) Price Is Out Of Tune With Earnings
IMO
CA$121.39
Imperial Oil
7D
6.0%
1Y
18.8%
BCE
CA$34.46
BCE
7D
-2.8%
1Y
-27.3%
WPM
CA$133.72
Wheaton Precious Metals
7D
5.9%
1Y
59.4%

Salobo III Streaming Deals Will Shape Future Metals Markets

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.
DOL
CA$192.07
Dollarama
7D
-2.5%
1Y
40.1%