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Canadian (TSX) Market Analysis & Valuation

UpdatedJun 07, 2026
DataAggregated Company Financials
Companies2192
  • 7D-1.0%
  • 3M4.6%
  • 1Y30.5%
  • YTD9.6%

In the last week, the market has stayed flat, however the Consumer Staples sector stood out, gaining 5.1%. As for the longer term, the market has risen 30% in the past 12 months. 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
Sun, 07 Jun 2026CA$5.4tCA$2.2tCA$243.9b15.9x22.3x2.4x
Tue, 05 May 2026CA$5.4tCA$2.2tCA$241.1b16.3x22.2x2.5x
Thu, 02 Apr 2026CA$5.2tCA$2.2tCA$240.6b16x21.4x2.4x
Sat, 28 Feb 2026CA$5.4tCA$2.1tCA$238.8b17.6x22.7x2.5x
Mon, 26 Jan 2026CA$5.2tCA$2.1tCA$224.5b17.5x23.2x2.4x
Wed, 24 Dec 2025CA$5.0tCA$2.1tCA$224.4b16.5x22.1x2.3x
Fri, 21 Nov 2025CA$4.7tCA$2.1tCA$224.6b15.9x21x2.2x
Sun, 19 Oct 2025CA$4.7tCA$2.2tCA$209.5b16.6x22.5x2.2x
Tue, 16 Sep 2025CA$4.6tCA$2.1tCA$208.6b16.3x22.1x2.1x
Thu, 14 Aug 2025CA$4.4tCA$2.1tCA$202.8b16x21.6x2.1x
Sat, 12 Jul 2025CA$4.3tCA$2.1tCA$191.6b16x22.4x2x
Mon, 09 Jun 2025CA$4.3tCA$2.1tCA$191.9b15.4x22.2x2x
Wed, 07 May 2025CA$4.0tCA$2.1tCA$175.3b14.7x22.7x1.9x
Fri, 04 Apr 2025CA$4.0tCA$2.1tCA$173.6b14.7x23.2x1.9x
Sun, 02 Mar 2025CA$4.0tCA$2.1tCA$172.7b15x23.3x1.9x
Tue, 28 Jan 2025CA$4.0tCA$2.1tCA$171.2b15x23.1x1.9x
Thu, 26 Dec 2024CA$3.9tCA$2.1tCA$169.2b14x22.9x1.8x
Sat, 23 Nov 2024CA$4.0tCA$2.1tCA$167.0b14.4x23.7x1.9x
Mon, 21 Oct 2024CA$4.0tCA$2.1tCA$168.1b15.6x23.5x1.9x
Wed, 18 Sep 2024CA$3.8tCA$2.1tCA$167.5b15.2x22.6x1.8x
Fri, 16 Aug 2024CA$3.6tCA$2.1tCA$170.2b14.8x21.4x1.7x
Sun, 14 Jul 2024CA$3.6tCA$2.0tCA$166.7b14x21.9x1.8x
Tue, 11 Jun 2024CA$3.5tCA$2.1tCA$167.4b14.3x21x1.7x
Thu, 09 May 2024CA$3.6tCA$2.1tCA$172.5b14x20.8x1.7x
Sat, 06 Apr 2024CA$3.5tCA$2.0tCA$174.3b14.1x20.4x1.7x
Mon, 04 Mar 2024CA$3.5tCA$2.1tCA$176.7b13.7x19.5x1.7x
Wed, 31 Jan 2024CA$3.4tCA$2.1tCA$174.0b12.9x19.6x1.6x
Fri, 29 Dec 2023CA$3.4tCA$2.1tCA$172.7b13.3x19.6x1.6x
Sun, 26 Nov 2023CA$3.2tCA$2.1tCA$179.1b11.8x18x1.5x
Tue, 24 Oct 2023CA$3.1tCA$2.1tCA$185.2b11x16.7x1.5x
Thu, 21 Sep 2023CA$3.3tCA$2.1tCA$184.4b12x17.8x1.6x
Sat, 19 Aug 2023CA$3.2tCA$2.1tCA$185.8b11.5x17.3x1.5x
Mon, 17 Jul 2023CA$3.3tCA$2.1tCA$199.9b11.4x16.3x1.5x
Wed, 14 Jun 2023CA$3.2tCA$2.1tCA$199.7b11x16.1x1.5x
Price to Earnings Ratio

16.1x


Total Market Cap: CA$3.2tTotal Earnings: CA$199.7bTotal 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 6.9% 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 Market-0.95%
Consumer Staples5.08%
Energy1.74%
Real Estate1.21%
Financials1.12%
Utilities0.93%
Industrials0.26%
Consumer Discretionary0.20%
Tech0.097%
Healthcare-0.37%
Telecom-1.12%
Materials-9.97%
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 22.3%, which is higher than its past year's earnings growth of 3.0% per year.
Forecasted Growth
  • Analysts are most optimistic on the Real Estate sector, expecting annual earnings growth of 40% 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$270.602.3%
+CA$8.6b		55.0%PB2.9xFinancials
ENB EnbridgeCA$78.543.8%
+CA$6.3b		23.3%PE26.6xEnergy
L Loblaw CompaniesCA$65.536.3%
+CA$4.5b		18.3%PE28.8xConsumer Staples
ATD Alimentation Couche-TardCA$82.606.0%
+CA$4.3b		14.5%PE20xConsumer Staples
TRP TC EnergyCA$95.834.3%
+CA$4.1b		37.9%PE28.3xEnergy
See more

Market Insights

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Latest News

ENB
CA$78.54
Enbridge
7D
3.8%
1Y
23.3%
Narrative Update • Jun 06

ENB: Future Returns Will Reflect Regulated Assets AI Demand And Pipeline Expansion

Analysts have raised their Enbridge fair value estimate to CA$78.24 from CA$76.14, citing recent price target increases across the Street after Q1 updates and refreshed models in the energy infrastructure space. Analyst Commentary Street research on Enbridge has centered on refreshed models after Q1 updates, with several firms adjusting price targets while keeping a generally balanced stance on the stock.
K
CA$36.50
Kinross Gold
7D
-12.8%
1Y
76.5%
PAAS
CA$66.24
Pan American Silver
7D
-15.9%
1Y
68.9%
BAM
CA$64.38
Brookfield Asset Management
7D
-3.4%
1Y
-18.3%
RY
CA$270.60
Royal Bank of Canada
7D
2.3%
1Y
55.0%
BMO
CA$229.23
Bank of Montreal
7D
2.4%
1Y
54.6%
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.
IMO
CA$169.62
Imperial Oil
7D
3.7%
1Y
68.3%
Narrative Update • Jun 05

IMO: Future Cash Returns Will Depend On Alberta Pipeline Execution

Imperial Oil's updated fair value estimate edges higher to CA$204.82 from CA$204.58. This reflects modest tweaks to revenue growth, profit margin and future P/E assumptions as analysts recalibrate their price targets, including a slight trim from CA$157 to CA$156 and several recent upward revisions from other firms.
LUG
CA$78.01
Lundin Gold
7D
-15.3%
1Y
8.5%
Narrative Update • Jun 05

LUG: High Margin Cash Flows And Silver Stream Dividend May Drive Upside

The analyst price target for Lundin Gold has shifted from CA$116.54 to CA$111.10 as analysts factor in slightly lower revenue growth assumptions, a modestly higher discount rate and updated views on future P/E multiples, while still highlighting the stock's high margin Fruta del Norte production and stable CA$1b per year cash flow at spot prices. Analyst Commentary Recent research updates show analysts reassessing Lundin Gold's valuation framework while still focusing on the cash generation profile of Fruta del Norte.
CCO
CA$144.09
Cameco
7D
-7.0%
1Y
74.1%
ABX
CA$54.91
Barrick Mining
7D
-6.8%
1Y
102.2%
WPM
CA$161.89
Wheaton Precious Metals
7D
-12.7%
1Y
33.2%
Narrative Update • Jun 02

WPM: Robust Pipeline And Higher Dividend Will Support Future Upside Potential

Analysts have nudged their CA$ price targets for Wheaton Precious Metals slightly higher, reflecting updated models after recent quarterly results, modestly higher fair value estimates near CA$222, a small adjustment to discount rates, and refreshed assumptions for growth, margins, and future P/E multiples. Analyst Commentary Across recent research, price targets for Wheaton Precious Metals have been revised in both directions, with several increases clustered around quarterly updates and refreshed company guidance.
CSU
CA$2,969.32
Constellation Software
7D
5.2%
1Y
-39.5%
ATD
CA$82.60
Alimentation Couche-Tard
7D
6.0%
1Y
14.5%
Narrative Update • Jun 01

ATD: Share Buybacks And Bullish Coverage Are Expected To Support Upside

Narrative Update Overview The analyst price target for Alimentation Couche-Tard has been nudged higher by CA$0.13, as analysts factor in recent bullish initiations alongside a mix of modest target raises and trims, while keeping assumptions around discount rate, revenue growth, profit margins, and future P/E multiples broadly in line with prior views. Analyst Commentary Recent research updates on Alimentation Couche-Tard show a mix of fresh bullish initiations and some cautious target trims, which is why the overall price target shift is relatively modest.
LUN
CA$37.22
Lundin Mining
7D
-9.6%
1Y
157.6%
L
CA$65.53
Loblaw Companies
7D
6.3%
1Y
18.3%
Narrative Update • May 28

L: Margin Discipline And Buybacks Will Support Higher Future Share Pricing

Analysts have trimmed their CA$ price target on Loblaw Companies by CA$6. This reflects updated views on the stock's risk profile and slightly adjusted assumptions around revenue growth, profit margins and forward P/E multiples.
TRP
CA$95.83
TC Energy
7D
4.3%
1Y
37.9%