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

Canadian (TSX) Market Analysis & Valuation

UpdatedFeb 09, 2026
DataAggregated Company Financials
Companies2199
  • 7D2.1%
  • 3M9.2%
  • 1Y28.4%
  • YTD3.2%

The market is up 2.1% over the last week, with the Financials sector leading the way, up 2.0%. In the last year, the market has climbed 28%. As for the next few years, earnings are expected to grow by 12% 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
Mon, 09 Feb 2026CA$5.1tCA$2.1tCA$226.8b17.4x22.6x2.4x
Wed, 07 Jan 2026CA$5.0tCA$2.1tCA$224.6b16.5x22.3x2.3x
Fri, 05 Dec 2025CA$4.9tCA$2.1tCA$225.9b16.1x21.6x2.3x
Sun, 02 Nov 2025CA$4.7tCA$2.2tCA$215.4b16.3x21.8x2.2x
Tue, 30 Sep 2025CA$4.7tCA$2.2tCA$209.2b16.4x22.4x2.2x
Thu, 28 Aug 2025CA$4.5tCA$2.1tCA$203.8b16.1x22x2.1x
Sat, 26 Jul 2025CA$4.4tCA$2.1tCA$190.8b16.2x22.9x2.1x
Mon, 23 Jun 2025CA$4.3tCA$2.1tCA$191.8b15.4x22.2x2x
Wed, 21 May 2025CA$4.1tCA$2.1tCA$183.4b14.4x22.2x1.9x
Fri, 18 Apr 2025CA$3.9tCA$2.1tCA$173.0b14.7x22.3x1.8x
Sun, 16 Mar 2025CA$3.9tCA$2.1tCA$174.3b14.9x22.4x1.8x
Tue, 11 Feb 2025CA$4.0tCA$2.1tCA$168.6b14.6x24x1.9x
Thu, 09 Jan 2025CA$3.9tCA$2.1tCA$171.0b14.6x22.7x1.8x
Sat, 07 Dec 2024CA$4.0tCA$2.1tCA$169.1b14.7x23.7x1.9x
Mon, 04 Nov 2024CA$3.9tCA$2.1tCA$168.8b14.9x22.8x1.8x
Wed, 02 Oct 2024CA$3.8tCA$2.1tCA$167.7b15.3x22.9x1.8x
Fri, 30 Aug 2024CA$3.7tCA$2.1tCA$167.3b15.3x22.2x1.8x
Sun, 28 Jul 2024CA$3.7tCA$2.1tCA$167.8b14.2x21.9x1.8x
Tue, 25 Jun 2024CA$3.5tCA$2.0tCA$166.8b14.1x20.8x1.7x
Thu, 23 May 2024CA$3.7tCA$2.0tCA$167.1b14.1x21.9x1.8x
Sat, 20 Apr 2024CA$3.5tCA$2.1tCA$174.7b13.9x20x1.7x
Mon, 18 Mar 2024CA$3.5tCA$2.1tCA$173.4b13.5x20.2x1.7x
Wed, 14 Feb 2024CA$3.3tCA$2.1tCA$177.1b13x18.7x1.6x
Fri, 12 Jan 2024CA$3.4tCA$2.1tCA$173.2b12.8x19.5x1.6x
Sun, 10 Dec 2023CA$3.3tCA$2.1tCA$172.3b12.2x18.9x1.6x
Tue, 07 Nov 2023CA$3.2tCA$2.1tCA$179.6b12x17.8x1.5x
Thu, 05 Oct 2023CA$3.1tCA$2.1tCA$185.5b11.2x16.8x1.5x
Sat, 02 Sep 2023CA$3.3tCA$2.1tCA$184.9b11.8x17.9x1.6x
Mon, 31 Jul 2023CA$3.3tCA$2.1tCA$191.3b11.9x17.3x1.6x
Wed, 28 Jun 2023CA$3.1tCA$2.1tCA$191.7b11.2x16.2x1.5x
Fri, 26 May 2023CA$3.2tCA$2.1tCA$205.6b11x15.7x1.5x
Sun, 23 Apr 2023CA$3.4tCA$2.1tCA$217.9b10.8x15.5x1.6x
Tue, 21 Mar 2023CA$3.1tCA$2.1tCA$211.3b10.6x14.7x1.5x
Thu, 16 Feb 2023CA$3.4tCA$2.1tCA$235.5b11x14.4x1.6x
Price to Earnings Ratio

14.4x


Total Market Cap: CA$3.4tTotal Earnings: CA$235.5bTotal Revenue: CA$2.1tTotal Market Cap vs Earnings and Revenue0%0%0%
Canadian Market Price to Earnings3Y Average 20.3x202420252026
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 22.6x which is higher than its 3-year average PE of 20.3x.
Past Earnings Growth
  • Both revenue and earnings for Canadian listed companies have remained mostly flat over the last three years.
  • This means sales and the cost of doing business have remained relatively consistent over this period and subsequently, so have profits.

Sector Trends

Which sectors have driven the changes within the Canadian Market?

CA Market2.10%
Consumer Staples8.59%
Consumer Discretionary5.06%
Energy2.29%
Healthcare2.27%
Financials1.99%
Materials1.55%
Real Estate1.53%
Industrials1.25%
Utilities1.24%
Telecom-0.92%
Tech-0.98%
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 24.2%, which is higher than its past year's earnings growth of 15.0% 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 growth rate of 9.5% per year.
  • In contrast, the Telecom sector is expected to see its earnings decline by 8.7% 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
TD Toronto-Dominion BankCA$131.993.7%
+CA$7.9b		59.4%PB1.8xFinancials
CNQ Canadian Natural ResourcesCA$53.407.0%
+CA$7.3b		21.6%PE16.7xEnergy
IMO Imperial OilCA$153.689.6%
+CA$6.5b		56.5%PE22.7xEnergy
CP Canadian Pacific Kansas CityCA$109.827.0%
+CA$6.5b		-1.7%PE23.8xIndustrials
ENB EnbridgeCA$68.744.2%
+CA$6.0b		7.2%PE26.9xEnergy
See more

Market Insights

Header cover image
Why alternative investments are making a splash 🖼️
Richard Bowman avatar
Richard Bowman
|
|
Is it the time to invest in alternatives? Here's how you can get exposure.
Continue reading
Why longer lifespans could reshape portfolios 🧓
Last Week

Why longer lifespans could reshape portfolios 🧓

Latest News

ABX
CA$61.75
Barrick Mining
7D
-2.6%
1Y
147.7%
TRI
CA$120.18
Thomson Reuters
7D
-19.3%
1Y
-53.1%
IMO
CA$153.68
Imperial Oil
7D
9.6%
1Y
56.5%

IMO: Future Returns Will Likely Weaken Versus C$115 Fair Value Estimate

Narrative Update Analysts have nudged their fair value estimate for Imperial Oil up from C$113 to about C$115.41. This reflects recent adjustments to sector price targets that factor in updated 2025 guidance and early 2026 commentary, while continuing to see gas as relatively more attractive than oil.
X
CA$45.42
TMX Group
7D
-11.7%
1Y
-8.5%
CP
CA$109.82
Canadian Pacific Kansas City
7D
7.0%
1Y
-1.7%
CNQ
CA$53.40
Canadian Natural Resources
7D
7.0%
1Y
21.6%
TD
CA$131.99
Toronto-Dominion Bank
7D
3.7%
1Y
59.4%
CCO
CA$155.18
Cameco
7D
-5.6%
1Y
115.4%

Future U S Nuclear Spending And Supply Discipline Will Constrain Long Term Upside

Catalysts About Cameco Cameco produces and supplies uranium and related fuel services for nuclear power generation and holds a significant ownership stake in Westinghouse. What are the underlying business or industry changes driving this perspective?
CM
CA$132.10
Canadian Imperial Bank of Commerce
7D
5.0%
1Y
48.4%

CM: Net Interest Margins And Credit Costs Will Shape Future Earnings Balance

Narrative update The analyst price target for Canadian Imperial Bank of Commerce has been raised, with recent Street research moving targets to C$117, C$123, C$127 and most recently C$138, as analysts point to factors such as net interest margin trends and provisions for credit losses as key drivers in their updated views. Analyst Commentary Recent research shows a series of higher price targets for Canadian Imperial Bank of Commerce, along with mixed views on how sustainable current drivers of earnings might be.
CSU
CA$2,434.02
Constellation Software
7D
-3.1%
1Y
-50.4%

Constellation Software Inc.'s (TSE:CSU) 29% Cheaper Price Remains In Tune With Earnings

Feb 04
Constellation Software Inc.'s (TSE:CSU) 29% Cheaper Price Remains In Tune With Earnings
ENB
CA$68.74
Enbridge
7D
4.2%
1Y
7.2%

ENB: Future Returns Will Depend On Gas Utility Execution And Dividend Growth

Analysts have trimmed their fair value estimate for Enbridge by about $0.24, as a slightly higher discount rate and softer revenue outlook are being weighed against a small improvement in expected profit margins and a steady future P/E. Recent price target changes reflect mixed views across the Street.
CNR
CA$138.55
Canadian National Railway
7D
5.9%
1Y
-5.5%

Canadian National Railway (TSE:CNR) Will Pay A Larger Dividend Than Last Year At CA$0.915

Feb 03
Canadian National Railway (TSE:CNR) Will Pay A Larger Dividend Than Last Year At CA$0.915
FM
CA$37.36
First Quantum Minerals
7D
-4.7%
1Y
88.7%

Cobre Panamá Uncertainty And Rising Zambian Costs Will Pressure Margins And Future Cash Flows

Catalysts About First Quantum Minerals First Quantum Minerals is a global mining company focused on producing copper, nickel and gold from operations in Zambia, Panama, Turkey, Finland and other jurisdictions. What are the underlying business or industry changes driving this perspective?
L
CA$67.09
Loblaw Companies
7D
6.6%
1Y
50.6%
GWO
CA$61.53
Great-West Lifeco
7D
-3.5%
1Y
19.0%

GWO: Capital Strength And Buybacks Will Support Balanced Medium Term Earnings Outlook

Narrative Update: Great-West Lifeco Our updated analyst price target for Great-West Lifeco moves higher to C$66.17 from C$64.50, reflecting analysts' higher Street targets and their focus on capital strength, cash flow and consolidation potential, alongside modest adjustments to our fair value inputs such as profit margin and future P/E assumptions. Analyst Commentary Recent Street research has trended toward higher price targets for Great-West Lifeco, with several firms revising their views and focusing on capital strength, cash flow generation and the potential role the company could play in sector consolidation.
POW
CA$64.50
Power Corporation of Canada
7D
-6.8%
1Y
37.3%