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Canadian (TSX) Market Analysis & Valuation

UpdatedNov 08, 2025
DataAggregated Company Financials
Companies2215
  • 7D-0.7%
  • 3M7.3%
  • 1Y17.1%
  • YTD18.0%

In the last week, the market has been flat, with a notable exception in the Information Technology sector dropping 6.4%. More promisingly, the market is up 17% over the past year. 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
Sat, 08 Nov 2025CA$4.6tCA$2.1tCA$221.4b16.3x20.9x2.2x
Mon, 06 Oct 2025CA$4.8tCA$2.2tCA$209.3b16.7x22.7x2.2x
Wed, 03 Sep 2025CA$4.5tCA$2.1tCA$208.4b16.2x21.6x2.1x
Fri, 01 Aug 2025CA$4.3tCA$2.1tCA$192.8b16.1x22.5x2x
Sun, 29 Jun 2025CA$4.2tCA$2.1tCA$191.7b15.7x22.1x2x
Tue, 27 May 2025CA$4.1tCA$2.1tCA$191.5b14.9x21.6x2x
Thu, 24 Apr 2025CA$3.9tCA$2.1tCA$173.4b14.6x22.4x1.9x
Sat, 22 Mar 2025CA$4.0tCA$2.1tCA$173.4b14.9x22.9x1.9x
Mon, 17 Feb 2025CA$4.0tCA$2.1tCA$168.6b15x23.9x1.9x
Wed, 15 Jan 2025CA$3.8tCA$2.1tCA$171.2b14.2x22.4x1.8x
Fri, 13 Dec 2024CA$4.0tCA$2.1tCA$169.2b14.8x23.5x1.9x
Sun, 10 Nov 2024CA$3.9tCA$2.1tCA$167.8b14.8x23.4x1.8x
Tue, 08 Oct 2024CA$3.9tCA$2.1tCA$167.7b15.4x23x1.8x
Thu, 05 Sep 2024CA$3.7tCA$2.1tCA$167.6b15.1x22x1.8x
Sat, 03 Aug 2024CA$3.7tCA$2.1tCA$167.7b13.8x21.8x1.8x
Mon, 01 Jul 2024CA$3.5tCA$2.1tCA$166.5b14.1x21.2x1.7x
Wed, 29 May 2024CA$3.6tCA$2.0tCA$165.8b14.2x21.9x1.8x
Fri, 26 Apr 2024CA$3.5tCA$2.1tCA$173.1b13.9x20.3x1.7x
Sun, 24 Mar 2024CA$3.5tCA$2.0tCA$173.6b13.6x20.2x1.7x
Tue, 20 Feb 2024CA$3.4tCA$2.1tCA$177.5b13.4x19.2x1.6x
Thu, 18 Jan 2024CA$3.3tCA$2.1tCA$173.4b12.7x19.2x1.6x
Sat, 16 Dec 2023CA$3.3tCA$2.1tCA$172.9b12.4x19.3x1.6x
Mon, 13 Nov 2023CA$3.2tCA$2.1tCA$177.6b11.8x17.8x1.5x
Wed, 11 Oct 2023CA$3.2tCA$2.1tCA$185.0b11.5x17.1x1.5x
Fri, 08 Sep 2023CA$3.3tCA$2.1tCA$184.8b11.3x17.6x1.5x
Sun, 06 Aug 2023CA$3.3tCA$2.1tCA$185.4b11.8x17.7x1.6x
Tue, 04 Jul 2023CA$3.2tCA$2.1tCA$200.2b11x16.2x1.5x
Thu, 01 Jun 2023CA$3.2tCA$2.1tCA$200.4b11.2x16x1.5x
Sat, 29 Apr 2023CA$3.4tCA$2.1tCA$214.7b11.1x15.7x1.6x
Mon, 27 Mar 2023CA$3.1tCA$2.1tCA$214.7b10.5x14.6x1.5x
Wed, 22 Feb 2023CA$3.3tCA$2.1tCA$236.8b10.9x14x1.6x
Fri, 20 Jan 2023CA$3.4tCA$2.1tCA$245.4b10.7x13.7x1.6x
Sun, 18 Dec 2022CA$3.2tCA$2.0tCA$243.6b10.4x13.2x1.6x
Tue, 15 Nov 2022CA$3.3tCA$2.0tCA$240.0b10.4x13.7x1.6x
Price to Earnings Ratio

13.7x


Total Market Cap: CA$3.3tTotal Earnings: CA$240.0bTotal 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 2.7% 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-0.72%
Utilities1.07%
Consumer Discretionary0.48%
Energy0.44%
Telecom0.40%
Materials0.025%
Consumer Staples-0.094%
Financials-0.11%
Real Estate-2.03%
Industrials-4.14%
Healthcare-4.48%
Tech-6.44%
Sector PE
  • Investors favour the Tech sector the most for future growth which is trading above its 3-year average PE ratio.
    • Analysts expect its future annual earnings growth (23.0%) to be largely in line with prior year's earnings growth.
    • The market's confidence could indicate that the market believes that analysts are underestimating future growth.
Forecasted Growth
  • Analysts are most optimistic on the Healthcare sector, expecting annual earnings growth of 58% over the next 5 years.
  • This is better than its past earnings decline of 5.5% per year.
  • In contrast, the Telecom sector is expected to see its earnings decline by 12% 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$59.767.0%
+CA$4.0b		9.7%PE13.6xEnergy
ENB EnbridgeCA$66.942.4%
+CA$3.4b		13.6%PE23.5xEnergy
IFC Intact FinancialCA$280.177.1%
+CA$3.3b		5.2%PE16.7xFinancials
CM Canadian Imperial Bank of CommerceCA$118.922.3%
+CA$2.5b		32.8%PB1.8xFinancials
MFC Manulife FinancialCA$46.853.2%
+CA$2.5b		5.9%PE14.6xFinancials
See more

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BAM
CA$74.37
Brookfield Asset Management
7D
-2.0%
1Y
-5.2%
CSU
CA$3,385.76
Constellation Software
7D
-8.3%
1Y
-22.3%
IFC
CA$280.17
Intact Financial
7D
7.1%
1Y
5.2%
FFH
CA$2,210.63
Fairfax Financial Holdings
7D
-2.9%
1Y
20.4%
CCO
CA$129.43
Cameco
7D
-9.7%
1Y
77.0%
TRI
CA$192.99
Thomson Reuters
7D
-10.2%
1Y
-17.5%
IMO
CA$130.98
Imperial Oil
7D
5.6%
1Y
28.6%

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.
ENB
CA$66.94
Enbridge
7D
2.4%
1Y
13.6%
TD
CA$113.58
Toronto-Dominion Bank
7D
-1.4%
1Y
43.9%
SU
CA$59.76
Suncor Energy
7D
7.0%
1Y
9.7%

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.
CLS
CA$451.60
Celestica
7D
-6.5%
1Y
277.8%

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LUN
CA$24.91
Lundin Mining
7D
10.4%
1Y
79.3%

LUN: Share Price Outlook Will Reflect Improved Profit Margins And Execution Risks

Lundin Mining's analyst price target has been raised notably, from approximately $22.50 to $23.76. Analysts point to improved revenue growth expectations and higher projected profit margins, which are supporting a stronger outlook for the company.
ATD
CA$68.51
Alimentation Couche-Tard
7D
-3.9%
1Y
-11.1%
CM
CA$118.92
Canadian Imperial Bank of Commerce
7D
2.3%
1Y
32.8%

CM: Earnings Momentum and Higher Margins Are Expected to Sustain Fair Valuation

Analysts have recently raised their price targets on Canadian Imperial Bank of Commerce. Several firms have increased projections by C$5 to C$15, citing continued earnings outperformance and improving margins in both U.S. and Canadian divisions.
MFC
CA$46.85
Manulife Financial
7D
3.2%
1Y
5.9%
BNS
CA$93.54
Bank of Nova Scotia
7D
1.7%
1Y
24.6%