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Canadian (TSX) Market Analysis & Valuation

UpdatedJul 20, 2026
DataAggregated Company Financials
Companies2195
  • 7D-0.1%
  • 3M3.6%
  • 1Y28.6%
  • YTD11.4%

Over the last 7 days, the market has remained flat, although notably the Information Technology sector declined by 7.2%. More promisingly, the market is up 29% over the past year. 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
Mon, 20 Jul 2026CA$5.5tCA$2.2tCA$242.9b16.4x22.7x2.5x
Wed, 17 Jun 2026CA$5.6tCA$2.2tCA$244.0b16.4x22.8x2.5x
Fri, 15 May 2026CA$5.4tCA$2.2tCA$245.6b17.2x22.1x2.4x
Sun, 12 Apr 2026CA$5.3tCA$2.2tCA$241.4b16.7x22x2.4x
Tue, 10 Mar 2026CA$5.2tCA$2.1tCA$239.8b16.4x21.7x2.4x
Thu, 05 Feb 2026CA$5.1tCA$2.1tCA$224.7b17.3x22.7x2.4x
Sat, 03 Jan 2026CA$4.9tCA$2.1tCA$224.4b16.4x22x2.3x
Mon, 01 Dec 2025CA$4.9tCA$2.1tCA$224.1b16.5x21.7x2.3x
Wed, 29 Oct 2025CA$4.7tCA$2.2tCA$215.5b16.5x21.8x2.2x
Fri, 26 Sep 2025CA$4.7tCA$2.2tCA$209.1b16.5x22.3x2.2x
Sun, 24 Aug 2025CA$4.5tCA$2.1tCA$201.8b16.1x22.1x2.1x
Tue, 22 Jul 2025CA$4.3tCA$2.1tCA$191.0b16.4x22.8x2x
Thu, 19 Jun 2025CA$4.3tCA$2.1tCA$191.8b15.5x22.3x2x
Sat, 17 May 2025CA$4.1tCA$2.1tCA$183.1b14.3x22.3x1.9x
Mon, 14 Apr 2025CA$3.8tCA$2.1tCA$173.1b14.3x21.7x1.8x
Wed, 12 Mar 2025CA$3.9tCA$2.1tCA$175.3b14.6x22.1x1.8x
Fri, 07 Feb 2025CA$3.9tCA$2.1tCA$169.0b14.7x23.3x1.9x
Sun, 05 Jan 2025CA$3.9tCA$2.1tCA$169.3b14.4x23.2x1.8x
Tue, 03 Dec 2024CA$4.0tCA$2.1tCA$166.3b14.8x24x1.9x
Thu, 31 Oct 2024CA$3.9tCA$2.1tCA$168.1b15.3x23.2x1.8x
Sat, 28 Sep 2024CA$3.8tCA$2.1tCA$167.6b15.5x22.9x1.8x
Mon, 26 Aug 2024CA$3.7tCA$2.1tCA$166.6b15.1x22.3x1.8x
Wed, 24 Jul 2024CA$3.7tCA$2.1tCA$167.8b14x21.9x1.8x
Fri, 21 Jun 2024CA$3.5tCA$2.0tCA$167.3b14x20.7x1.7x
Sun, 19 May 2024CA$3.6tCA$2.0tCA$167.0b14.2x21.9x1.8x
Tue, 16 Apr 2024CA$3.5tCA$2.1tCA$174.6b14x20.2x1.7x
Thu, 14 Mar 2024CA$3.5tCA$2.1tCA$173.7b13.8x20.1x1.7x
Sat, 10 Feb 2024CA$3.4tCA$2.1tCA$174.2b13.1x19.3x1.6x
Mon, 08 Jan 2024CA$3.4tCA$2.1tCA$173.1b13x19.5x1.6x
Wed, 06 Dec 2023CA$3.3tCA$2.1tCA$172.0b12x19x1.6x
Fri, 03 Nov 2023CA$3.1tCA$2.1tCA$180.7b12.1x17.1x1.5x
Sun, 01 Oct 2023CA$3.2tCA$2.1tCA$185.2b11.5x17.1x1.5x
Tue, 29 Aug 2023CA$3.2tCA$2.1tCA$184.9b11.5x17.4x1.5x
Thu, 27 Jul 2023CA$3.3tCA$2.1tCA$199.1b11.8x16.7x1.6x
Price to Earnings Ratio

16.7x


Total Market Cap: CA$3.3tTotal Earnings: CA$199.1bTotal Revenue: CA$2.1tTotal Market Cap vs Earnings and Revenue0%0%0%
Canadian Market Price to Earnings3Y Average 21.3x202420252026
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 21.3x.
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-0.15%
Industrials1.67%
Financials1.47%
Consumer Discretionary1.02%
Real Estate0.75%
Utilities0.73%
Consumer Staples0.28%
Energy0.02%
Telecom0.0061%
Healthcare-1.64%
Materials-4.04%
Tech-7.15%
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 21.4%, 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 41% over the next 5 years.
  • This is better than its past earnings decline of 6.5% per year.
  • In contrast, the Telecom sector is expected to see its earnings decline by 4.7% 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
RY Royal Bank of CanadaCA$302.131.4%
+CA$5.9b		65.7%PB3.2xFinancials
TD Toronto-Dominion BankCA$173.311.5%
+CA$4.3b		70.2%PB2.4xFinancials
MFC Manulife FinancialCA$60.743.8%
+CA$3.8b		45.5%PE17.1xFinancials
CM Canadian Imperial Bank of CommerceCA$169.942.4%
+CA$3.6b		69.0%PB2.4xFinancials
ENB EnbridgeCA$79.421.9%
+CA$3.2b		30.2%PE26.9xEnergy
See more

Market Insights

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A strong brand today doesn't guarantee a strong brand forever. Even the most established names can see their pricing power fade over time. In an industry landscape being reshaped by new entrants, shifting tastes and disruptive technology, it's worth understanding how to tell a temporary dip from a permanent decline.
Continue reading
What makes a lasting brand?

Latest News

RY
CA$302.13
Royal Bank of Canada
7D
1.4%
1Y
65.7%
BAM
CA$67.71
Brookfield Asset Management
7D
2.6%
1Y
-17.8%
BB
CA$12.60
BlackBerry
7D
-16.9%
1Y
136.4%
TECK.B
CA$77.21
Teck Resources
7D
-6.7%
1Y
48.6%
WPM
CA$145.96
Wheaton Precious Metals
7D
-4.4%
1Y
16.7%
CLS
CA$421.82
Celestica
7D
-13.7%
1Y
89.1%
TD
CA$173.31
Toronto-Dominion Bank
7D
1.5%
1Y
70.2%
IMO
CA$171.89
Imperial Oil
7D
-1.7%
1Y
53.2%
MFC
CA$60.74
Manulife Financial
7D
3.8%
1Y
45.5%
Narrative Update • Jul 16

MFC: Asia Expansion And AI Focus Will Support Measured Medium Term Outlook

Analysts have raised their blended price target for Manulife Financial to CA$57.25 from CA$55.38, reflecting updated views on the company after a series of recent Street target changes between CA$54 and CA$61 and slight adjustments to fair value, revenue growth and profit margin assumptions. Analyst Commentary Street research on Manulife Financial has clustered around a range of CA$54 to CA$61, with several firms adjusting their price targets in recent months.
CCO
CA$119.93
Cameco
7D
-6.1%
1Y
13.7%
K
CA$31.67
Kinross Gold
7D
-4.6%
1Y
45.2%
SLF
CA$114.74
Sun Life Financial
7D
3.4%
1Y
37.0%
Narrative Update • Jul 12

SLF: Rich Multiple Will Rely On Ongoing U.S. Acquisition Execution

Analysts have modestly raised the Sun Life Financial fair value estimate to CA$101.79 from CA$99.29. This reflects a slightly higher assumed future P/E multiple supported by recent upward revisions to Street price targets tied to diversified earnings strength and returns on equity.
NA
CA$234.06
National Bank of Canada
7D
2.5%
1Y
64.2%
ABX
CA$48.92
Barrick Mining
7D
-3.7%
1Y
67.6%
Narrative Update • Jul 08

ABX: Rich Multiple And Execution Risks Will Pressure Future Share Returns

The analyst price target for Barrick Mining has shifted from CA$33.69 to CA$32.46 as analysts update their assumptions around fair value, discount rates, revenue growth, profit margins and future P/E expectations. Analyst Commentary With the recent adjustment in the analyst price target for Barrick Mining to CA$32.46, recent commentary has focused on how valuation assumptions, execution risks and growth expectations line up with this updated view of fair value.
CM
CA$169.94
Canadian Imperial Bank of Commerce
7D
2.4%
1Y
69.0%
ENB
CA$79.42
Enbridge
7D
1.9%
1Y
30.2%