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Canadian (TSX) Market Analysis & Valuation

UpdatedJul 01, 2026
DataAggregated Company Financials
Companies2205
  • 7D-0.6%
  • 3M5.6%
  • 1Y29.0%
  • YTD10.1%

In the last week, the market has stayed flat, however the Healthcare sector stood out, gaining 4.0%. As for the longer term, the market has risen 29% in the past 12 months. 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
Thu, 02 Jul 2026CA$5.5tCA$2.3tCA$245.7b16.1x22.2x2.4x
Sat, 30 May 2026CA$5.5tCA$2.2tCA$243.1b16.8x22.5x2.5x
Mon, 27 Apr 2026CA$5.3tCA$2.2tCA$241.2b16.9x22.2x2.5x
Wed, 25 Mar 2026CA$5.0tCA$2.1tCA$238.9b15.9x20.9x2.3x
Fri, 20 Feb 2026CA$5.2tCA$2.1tCA$230.9b17.4x22.7x2.5x
Sun, 18 Jan 2026CA$5.1tCA$2.1tCA$225.2b17.2x22.8x2.4x
Tue, 16 Dec 2025CA$4.9tCA$2.1tCA$224.8b16.2x21.8x2.3x
Thu, 13 Nov 2025CA$4.7tCA$2.1tCA$222.1b16.8x21.2x2.2x
Sat, 11 Oct 2025CA$4.7tCA$2.2tCA$209.4b16.4x22.5x2.2x
Mon, 08 Sep 2025CA$4.6tCA$2.1tCA$208.6b16.3x21.8x2.1x
Wed, 06 Aug 2025CA$4.3tCA$2.1tCA$195.1b16.1x22x2x
Fri, 04 Jul 2025CA$4.3tCA$2.1tCA$191.4b15.9x22.3x2x
Sun, 01 Jun 2025CA$4.2tCA$2.1tCA$192.2b14.9x21.6x2x
Tue, 29 Apr 2025CA$3.9tCA$2.1tCA$173.9b14.9x22.7x1.9x
Thu, 27 Mar 2025CA$4.0tCA$2.1tCA$173.4b15.3x23.2x1.9x
Sat, 22 Feb 2025CA$4.0tCA$2.1tCA$169.1b14.8x23.6x1.9x
Mon, 20 Jan 2025CA$3.9tCA$2.1tCA$171.3b14.3x22.8x1.8x
Wed, 18 Dec 2024CA$3.9tCA$2.1tCA$169.4b14.2x23.1x1.8x
Fri, 15 Nov 2024CA$3.9tCA$2.1tCA$167.2b14.8x23.3x1.8x
Sun, 13 Oct 2024CA$3.9tCA$2.1tCA$168.0b15.7x23.2x1.8x
Tue, 10 Sep 2024CA$3.7tCA$2.1tCA$167.4b14.9x22x1.8x
Thu, 08 Aug 2024CA$3.5tCA$2.1tCA$167.4b13.6x21.1x1.7x
Sat, 06 Jul 2024CA$3.6tCA$2.0tCA$166.4b13.9x21.5x1.7x
Mon, 03 Jun 2024CA$3.6tCA$2.0tCA$166.2b14.4x21.7x1.8x
Wed, 01 May 2024CA$3.5tCA$2.1tCA$173.3b13.9x20.2x1.7x
Fri, 29 Mar 2024CA$3.5tCA$2.0tCA$175.1b13.8x20.2x1.7x
Sun, 25 Feb 2024CA$3.4tCA$2.1tCA$173.8b14.1x19.8x1.7x
Tue, 23 Jan 2024CA$3.4tCA$2.1tCA$173.3b12.9x19.4x1.6x
Thu, 21 Dec 2023CA$3.3tCA$2.1tCA$173.0b13x19.4x1.6x
Sat, 18 Nov 2023CA$3.2tCA$2.1tCA$179.9b12x17.9x1.6x
Mon, 16 Oct 2023CA$3.2tCA$2.1tCA$185.2b11.6x17.1x1.5x
Wed, 13 Sep 2023CA$3.3tCA$2.1tCA$184.7b11.8x17.7x1.5x
Fri, 11 Aug 2023CA$3.3tCA$2.1tCA$184.6b11.7x17.9x1.5x
Sun, 09 Jul 2023CA$3.2tCA$2.1tCA$200.3b11.2x16x1.5x
Price to Earnings Ratio

16x


Total Market Cap: CA$3.2tTotal Earnings: CA$200.3bTotal Revenue: CA$2.1tTotal Market Cap vs Earnings and Revenue0%0%0%
Canadian Market Price to Earnings3Y Average 21.2x202420252026
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 21.2x.
Past Earnings Growth
  • The earnings for Canadian listed companies have grown 8.5% per year over the last three years.
  • Revenues for these companies have grown 2.4% per year.
  • This means that more sales are being generated by these companies overall, and subsequently their profits are increasing too.

Sector Trends

Which sectors have driven the changes within the Canadian Market?

CA Market-0.59%
Healthcare4.02%
Real Estate1.70%
Industrials1.56%
Tech1.15%
Consumer Discretionary0.83%
Financials0.81%
Utilities-0.012%
Consumer Staples-0.78%
Materials-1.58%
Energy-3.86%
Telecom-6.96%
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 22.8%, 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 43% over the next 5 years.
  • This is better than its past earnings decline of 5.4% per year.
  • In contrast, the Telecom sector is expected to see its earnings decline by 8.1% 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$293.681.6%
+CA$6.3b		63.6%PB3.1xFinancials
TD Toronto-Dominion BankCA$172.440.9%
+CA$2.5b		69.7%PB2.3xFinancials
BMO Bank of MontrealCA$250.671.1%
+CA$2.0b		62.7%PB2.1xFinancials
BB BlackBerryCA$17.9122.5%
+CA$1.9b		206.7%PE123.5xTech
POW Power Corporation of CanadaCA$88.422.9%
+CA$1.6b		68.6%PE20.6xFinancials
See more

Market Insights

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Latest News

CNQ
CA$56.12
Canadian Natural Resources
7D
-3.6%
1Y
31.1%
CCO
CA$144.56
Cameco
7D
-6.5%
1Y
42.9%
ABX
CA$52.15
Barrick Mining
7D
-3.8%
1Y
84.0%
BMO
CA$250.67
Bank of Montreal
7D
1.8%
1Y
66.1%
ENB
CA$76.91
Enbridge
7D
-2.9%
1Y
24.6%
FFH
CA$2,332.74
Fairfax Financial Holdings
7D
3.7%
1Y
-5.1%
Narrative Update • Jun 29

FFH: Debt Funded Kennedy Wilson Deal Will Pressure Future Risk Profile

Fairfax Financial Holdings' analyst price target has been adjusted to CA$2,350. This reflects a modest uplift from prior fair value estimates as analysts point to steady revenue assumptions, a slightly higher forward P/E multiple, and expectations for softer commercial insurance and reinsurance markets that may pressure combined ratios, while leaving the stock viewed as fairly valued at current levels.
RY
CA$293.68
Royal Bank of Canada
7D
1.8%
1Y
63.6%
CNR
CA$169.25
Canadian National Railway
7D
3.7%
1Y
19.3%
BB
CA$17.91
BlackBerry
7D
42.8%
1Y
186.1%
Narrative Update • Jun 26

BB: QNX And Secure Communications Momentum Will Struggle To Justify Current Premium

BlackBerry's implied fair value has moved from CA$5.68 to CA$10.22 as analysts lift price targets into a CA$9.50 to CA$12.00 range. They cite stronger profitability, higher assumed revenue growth and margins, and a richer future P/E multiple supported by QNX and secure communications momentum.
BAM
CA$63.62
Brookfield Asset Management
7D
-4.6%
1Y
-15.6%
Narrative Update • Jun 26

BAM: Fundraising Momentum And AI Infrastructure Ventures Will Drive Future Upside

The analyst price target for Brookfield Asset Management has been reduced by about CA$5.60 to reflect updated assumptions around fair value, discount rates and profitability, even as analysts highlight ongoing fundraising momentum and exposure to long term themes such as digital infrastructure, AI, energy and broader infrastructure. Analyst Commentary Recent research on Brookfield Asset Management reflects a mix of optimism around its fundraising pipeline and long term themes, alongside more cautious views tied to valuation assumptions and execution risks.
CLS
CA$517.24
Celestica
7D
3.6%
1Y
143.1%
SU
CA$76.30
Suncor Energy
7D
-5.0%
1Y
49.6%
Narrative Update • Jun 25

SU: Buybacks And Operational Momentum Will Drive Future Cash Return Expectations

The analyst price target for Suncor Energy has been adjusted slightly higher to CA$100.26 from CA$99.16, reflecting analysts' view that recent price target increases across several firms and a generally constructive stance on the company's operational progress are now more fully captured in the valuation. Analyst Commentary Recent research on Suncor Energy shows a mix of optimism and caution as analysts react to the company’s operational progress and current share valuation.
TRP
CA$93.92
TC Energy
7D
-4.9%
1Y
41.3%
Narrative Update • Jun 24

TRP: Q1 Execution And Fair Value Positioning Will Shape Forward Risk Reward

Analysts have modestly lifted their TC Energy price target to CA$103, with the change linked to updated sector models, Q1 guidance commentary, and a recent shift toward viewing the stock as closer to estimated intrinsic fair value. Analyst Commentary Recent research coverage on TC Energy has focused on how current valuation lines up with analysts’ estimates of intrinsic fair value, especially after the latest Q1 updates and sector model revisions.
GWO
CA$90.37
Great-West Lifeco
7D
3.1%
1Y
74.5%
BN
CA$60.51
Brookfield
7D
-3.1%
1Y
7.7%
TD
CA$172.44
Toronto-Dominion Bank
7D
1.5%
1Y
72.2%
Narrative Update • Jun 18

TD: Future Will Reflect Cost Controls AI Push And Mixed Execution

Toronto-Dominion Bank's analyst price target has moved higher, with the fair value estimate rising by CA$3.93 to CA$159.57. Analysts highlight recent target increases across the Street, supported by views of slightly stronger revenue growth, a modestly higher future P/E and firmer profit margins.