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Canadian (TSX) Market Analysis & Valuation

UpdatedJun 14, 2026
DataAggregated Company Financials
Companies2196
  • 7D1.5%
  • 3M7.1%
  • 1Y31.8%
  • YTD11.2%

Over the last 7 days, the market has risen 1.5%, driven by gains of 3.0% in the Financials sector. As for the past 12 months, the market is up 32%. 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
Sun, 14 Jun 2026CA$5.5tCA$2.2tCA$243.9b16x22.6x2.5x
Tue, 12 May 2026CA$5.4tCA$2.2tCA$244.1b16.8x22.1x2.4x
Thu, 09 Apr 2026CA$5.2tCA$2.2tCA$241.0b16.3x21.7x2.4x
Sat, 07 Mar 2026CA$5.3tCA$2.1tCA$239.5b16.8x22x2.5x
Mon, 02 Feb 2026CA$5.0tCA$2.1tCA$224.1b16.8x22.4x2.4x
Wed, 31 Dec 2025CA$5.0tCA$2.1tCA$224.3b16.4x22.1x2.3x
Fri, 28 Nov 2025CA$4.8tCA$2.1tCA$224.4b16.5x21.5x2.3x
Sun, 26 Oct 2025CA$4.7tCA$2.2tCA$215.4b16.8x21.9x2.2x
Tue, 23 Sep 2025CA$4.7tCA$2.1tCA$208.8b16.4x22.3x2.2x
Thu, 21 Aug 2025CA$4.4tCA$2.1tCA$201.9b15.8x21.7x2x
Sat, 19 Jul 2025CA$4.4tCA$2.1tCA$191.2b16.1x22.8x2x
Mon, 16 Jun 2025CA$4.3tCA$2.1tCA$191.5b15.4x22.3x2x
Wed, 14 May 2025CA$4.0tCA$2.1tCA$176.8b14.4x22.7x1.9x
Fri, 11 Apr 2025CA$3.8tCA$2.1tCA$173.3b14.1x21.8x1.8x
Sun, 09 Mar 2025CA$3.9tCA$2.1tCA$173.5b14.9x22.7x1.8x
Tue, 04 Feb 2025CA$3.9tCA$2.1tCA$170.9b14.4x23.1x1.8x
Thu, 02 Jan 2025CA$3.9tCA$2.1tCA$169.1b14.2x22.9x1.8x
Sat, 30 Nov 2024CA$4.0tCA$2.1tCA$166.3b14.9x23.9x1.9x
Mon, 28 Oct 2024CA$3.9tCA$2.1tCA$167.7b15.3x23.3x1.8x
Wed, 25 Sep 2024CA$3.8tCA$2.1tCA$167.5b15.3x22.7x1.8x
Fri, 23 Aug 2024CA$3.7tCA$2.1tCA$169.8b14.7x21.8x1.8x
Sun, 21 Jul 2024CA$3.6tCA$2.1tCA$167.7b14x21.7x1.8x
Tue, 18 Jun 2024CA$3.5tCA$2.1tCA$167.4b14.1x20.8x1.7x
Thu, 16 May 2024CA$3.6tCA$2.0tCA$167.9b14.2x21.5x1.8x
Sat, 13 Apr 2024CA$3.6tCA$2.1tCA$174.6b14.1x20.4x1.7x
Mon, 11 Mar 2024CA$3.5tCA$2.1tCA$173.3b13.7x20.1x1.7x
Wed, 07 Feb 2024CA$3.4tCA$2.1tCA$172.8b13.1x19.5x1.6x
Fri, 05 Jan 2024CA$3.4tCA$2.1tCA$173.1b13x19.5x1.6x
Sun, 03 Dec 2023CA$3.3tCA$2.1tCA$173.3b12.3x18.9x1.6x
Tue, 31 Oct 2023CA$3.1tCA$2.1tCA$184.5b11.6x16.6x1.5x
Thu, 28 Sep 2023CA$3.2tCA$2.1tCA$184.3b11.4x17.2x1.5x
Sat, 26 Aug 2023CA$3.2tCA$2.1tCA$184.8b11.5x17.4x1.5x
Mon, 24 Jul 2023CA$3.3tCA$2.1tCA$200.2b11.7x16.6x1.6x
Wed, 21 Jun 2023CA$3.2tCA$2.1tCA$200.3b11.1x15.9x1.5x
Price to Earnings Ratio

15.9x


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 21.1x202420252026
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 21.1x.
Past Earnings Growth
  • The earnings for Canadian listed companies have grown 6.8% per year over the last three years, while revenues have remained steady.
  • This means that companies overall are more efficiently conducting business since profits are increasing while sales have been flat.

Sector Trends

Which sectors have driven the changes within the Canadian Market?

CA Market1.46%
Financials3.01%
Consumer Discretionary2.82%
Materials2.31%
Real Estate1.78%
Telecom0.62%
Tech0.47%
Consumer Staples0.35%
Energy-0.18%
Utilities-0.21%
Industrials-1.15%
Healthcare-3.60%
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 3.1% per year.
Forecasted Growth
  • Analysts are most optimistic on the Real Estate sector, expecting annual earnings growth of 41% 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 8.3% 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$278.933.1%
+CA$11.6b		60.7%PB3xFinancials
TD Toronto-Dominion BankCA$164.014.0%
+CA$10.4b		70.4%PB2.2xFinancials
CM Canadian Imperial Bank of CommerceCA$158.714.5%
+CA$6.3b		71.4%PB2.3xFinancials
BNS Bank of Nova ScotiaCA$117.434.5%
+CA$6.2b		59.2%PB1.7xFinancials
BMO Bank of MontrealCA$235.252.6%
+CA$4.2b		61.9%PB2xFinancials
See more

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MFC
CA$56.32
Manulife Financial
7D
4.3%
1Y
33.0%
RY
CA$278.93
Royal Bank of Canada
7D
3.1%
1Y
60.7%
SU
CA$86.01
Suncor Energy
7D
-1.0%
1Y
54.5%
CM
CA$158.71
Canadian Imperial Bank of Commerce
7D
4.5%
1Y
71.4%
Narrative Update • Jun 12

CM: Future Earnings Will Reflect Q2 Execution And Portfolio Repositioning

Analysts have nudged the fair value estimate for Canadian Imperial Bank of Commerce higher to CA$155.18 from CA$148.46. This reflects updated price targets across the Street that factor in recent Q2 results, modestly adjusted discount rates and revenue growth forecasts, and slightly higher projected profit margins and future P/E assumptions.
FNV
CA$293.33
Franco-Nevada
7D
-3.7%
1Y
25.7%
BNS
CA$117.43
Bank of Nova Scotia
7D
4.5%
1Y
59.2%
CCO
CA$141.03
Cameco
7D
-2.1%
1Y
55.8%
CSU
CA$2,924.00
Constellation Software
7D
-1.5%
1Y
-39.5%
TRI
CA$114.09
Thomson Reuters
7D
-5.0%
1Y
-57.6%
K
CA$35.76
Kinross Gold
7D
-2.0%
1Y
66.6%
CNR
CA$166.47
Canadian National Railway
7D
-0.9%
1Y
18.0%
TD
CA$164.01
Toronto-Dominion Bank
7D
4.0%
1Y
70.4%
CLS
CA$550.22
Celestica
7D
6.1%
1Y
223.2%
Narrative Update • Jun 06

CLS: AI Data Center Demand And 2026 Outlook Will Drive Upside Potential

Analysts have raised their price target for Celestica to CA$648.86 from CA$577.12. This change reflects updated assumptions around revenue growth, profit margins and future P/E multiples that collectively indicate a higher estimated fair value for the stock.
TIH
CA$209.49
Toromont Industries
7D
-6.0%
1Y
72.3%
Narrative Update • Jun 05

TIH: Index Inclusion And Remanufacturing Investment Will Support A Measured Repricing Path

Toromont Industries' analyst fair value estimate has nudged up by about CA$2 to roughly CA$228, as analysts factor in refreshed price targets from several Canadian banks and modest tweaks to the discount rate, revenue growth, profit margin and future P/E assumptions. Analyst Commentary Bullish Takeaways Bullish analysts have raised price targets in a tight window, which aligns with the recent uplift in fair value estimates and suggests growing confidence in Toromont Industries' ability to support higher valuation assumptions.
BMO
CA$235.25
Bank of Montreal
7D
2.6%
1Y
61.9%
Narrative Update • Jun 05

BMO: Future Returns Will Balance U.S. ROE Plans And Credit Costs

The analyst price target for Bank of Montreal is updated to CA$225.11 from CA$206.79, reflecting researchers' focus on U.S. lending volume potential, improving return on equity trends, and evidence of positive operating leverage in recent results. Analyst Commentary Recent Street research on Bank of Montreal centers on the implications of its fiscal Q2 report, updated credit loss guidance, and the potential for U.S. growth, particularly in California.
FM
CA$43.39
First Quantum Minerals
7D
8.4%
1Y
106.3%