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Canadian (TSX) Market Analysis & Valuation

UpdatedDec 27, 2025
DataAggregated Company Financials
Companies2204
  • 7D0.9%
  • 3M6.6%
  • 1Y26.8%
  • YTD26.2%

The market has been flat over the last week. As for the longer term, the market has risen 27% in the past 12 months. Looking forward, earnings are forecast to grow by 12% 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, 28 Dec 2025CA$5.0tCA$2.1tCA$224.3b16.5x22.1x2.3x
Tue, 25 Nov 2025CA$4.7tCA$2.1tCA$224.6b15.9x20.9x2.2x
Thu, 23 Oct 2025CA$4.7tCA$2.2tCA$209.4b16.6x22.2x2.2x
Sat, 20 Sep 2025CA$4.6tCA$2.1tCA$208.7b16.4x22.1x2.2x
Mon, 18 Aug 2025CA$4.4tCA$2.1tCA$201.7b15.8x21.8x2.1x
Wed, 16 Jul 2025CA$4.3tCA$2.1tCA$191.8b16.1x22.6x2x
Fri, 13 Jun 2025CA$4.3tCA$2.1tCA$191.7b15.5x22.2x2x
Sun, 11 May 2025CA$4.1tCA$2.1tCA$180.0b14.7x22.6x1.9x
Tue, 08 Apr 2025CA$3.7tCA$2.1tCA$173.9b13.8x21.4x1.8x
Thu, 06 Mar 2025CA$3.9tCA$2.1tCA$172.1b14.8x22.7x1.8x
Sat, 01 Feb 2025CA$4.0tCA$2.1tCA$170.8b14.6x23.3x1.9x
Mon, 30 Dec 2024CA$3.9tCA$2.1tCA$169.2b14.1x22.9x1.8x
Wed, 27 Nov 2024CA$4.0tCA$2.1tCA$166.4b14.6x23.7x1.9x
Fri, 25 Oct 2024CA$3.9tCA$2.1tCA$167.3b15.5x23.4x1.9x
Sun, 22 Sep 2024CA$3.8tCA$2.1tCA$167.5b15.2x22.7x1.8x
Tue, 20 Aug 2024CA$3.7tCA$2.1tCA$169.9b14.6x21.7x1.8x
Thu, 18 Jul 2024CA$3.7tCA$2.0tCA$167.6b14x22x1.8x
Sat, 15 Jun 2024CA$3.5tCA$2.1tCA$167.4b14x20.9x1.7x
Mon, 13 May 2024CA$3.6tCA$2.0tCA$168.8b14x21.4x1.8x
Wed, 10 Apr 2024CA$3.6tCA$2.0tCA$174.2b14.1x20.6x1.8x
Fri, 08 Mar 2024CA$3.5tCA$2.1tCA$173.1b14.1x20.2x1.7x
Sun, 04 Feb 2024CA$3.4tCA$2.1tCA$170.5b13x19.9x1.6x
Tue, 02 Jan 2024CA$3.4tCA$2.1tCA$172.8b13.3x19.5x1.6x
Thu, 30 Nov 2023CA$3.2tCA$2.1tCA$179.4b11.9x17.9x1.6x
Sat, 28 Oct 2023CA$3.1tCA$2.1tCA$184.8b11.3x16.6x1.5x
Mon, 25 Sep 2023CA$3.2tCA$2.1tCA$184.3b11.7x17.4x1.5x
Wed, 23 Aug 2023CA$3.2tCA$2.1tCA$185.8b11.3x17.2x1.5x
Fri, 21 Jul 2023CA$3.3tCA$2.1tCA$199.6b11.5x16.5x1.6x
Sun, 18 Jun 2023CA$3.2tCA$2.1tCA$200.3b11.3x16.1x1.5x
Tue, 16 May 2023CA$3.3tCA$2.1tCA$206.0b11x16.1x1.5x
Thu, 13 Apr 2023CA$3.4tCA$2.1tCA$217.5b10.6x15.5x1.6x
Sat, 11 Mar 2023CA$3.3tCA$2.1tCA$220.6b10.7x14.7x1.5x
Mon, 06 Feb 2023CA$3.4tCA$2.1tCA$246.5b11.4x13.8x1.6x
Wed, 04 Jan 2023CA$3.2tCA$2.1tCA$246.3b10.5x13x1.5x
Price to Earnings Ratio

13x


Total Market Cap: CA$3.2tTotal Earnings: CA$246.3bTotal Revenue: CA$2.1tTotal Market Cap vs Earnings and Revenue0%0%0%
Canadian Market Price to Earnings3Y Average 20x20242025
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 22.1x which is higher than its 3-year average PE of 20.0x.
Past Earnings Growth
  • The earnings for Canadian listed companies have declined 3.1% 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 Market0.90%
Materials2.27%
Energy1.06%
Utilities0.93%
Financials0.68%
Industrials0.47%
Tech0.44%
Telecom0.20%
Consumer Discretionary-0.037%
Real Estate-0.12%
Consumer Staples-0.33%
Healthcare-2.28%
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 24.6%, 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 67% 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 21% 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
BN BrookfieldCA$63.752.0%
+CA$2.9b		16.0%PE126xFinancials
CNQ Canadian Natural ResourcesCA$45.072.5%
+CA$2.2b		3.7%PE14.1xEnergy
TD Toronto-Dominion BankCA$129.160.9%
+CA$2.0b		69.0%PB1.7xFinancials
BAM Brookfield Asset ManagementCA$73.131.5%
+CA$1.8b		-7.2%PE33xFinancials
CLS CelesticaCA$422.883.8%
+CA$1.8b		208.4%PE49.7xTech
See more

Market Insights

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Latest News

BMO
CA$178.40
Bank of Montreal
7D
-0.3%
1Y
27.5%

BMO: Future Returns Will Balance U.S. Credit Recovery And Capital Deployment

The analyst price target for Bank of Montreal has nudged higher by about C$1 to roughly C$182, as analysts factor in slightly stronger long term earnings power supported by rising Street targets, even as they temper expectations for further upside because much of the U.S. credit improvement is already reflected in the share price. Analyst Commentary Street research on Bank of Montreal reflects a more balanced stance, with recent target hikes offset by rating downgrades as the stock recovers from prior U.S. credit issues.
BN
CA$63.75
Brookfield
7D
2.0%
1Y
16.0%
WSP
CA$250.00
WSP Global
7D
2.0%
1Y
-2.1%
RY
CA$233.85
Royal Bank of Canada
7D
0.5%
1Y
34.1%

RY: Future Returns Will Depend On Diversified Mix Amid Measured Upgrade Momentum

The analyst price target for Royal Bank of Canada has been modestly increased from about C$229 to roughly C$233, as analysts factor in stronger expected revenue growth, slightly higher profit margins, and the bank’s resilient positioning relative to peers. Analyst Commentary Bullish analysts highlight that the recent uptick in the consensus price target reflects growing confidence in Royal Bank of Canada’s earnings trajectory and its ability to outgrow peers on a risk adjusted basis.
SCR
CA$29.15
Strathcona Resources
7D
-26.3%
1Y
-0.03%

The Market Doesn't Like What It Sees From Strathcona Resources Ltd.'s (TSE:SCR) Earnings Yet As Shares Tumble 32%

Dec 24
The Market Doesn't Like What It Sees From Strathcona Resources Ltd.'s (TSE:SCR) Earnings Yet As Shares Tumble 32%
IVN
CA$15.65
Ivanhoe Mines
7D
7.6%
1Y
-10.6%

After Leaping 27% Ivanhoe Mines Ltd. (TSE:IVN) Shares Are Not Flying Under The Radar

Dec 24
After Leaping 27% Ivanhoe Mines Ltd. (TSE:IVN) Shares Are Not Flying Under The Radar
CP
CA$101.94
Canadian Pacific Kansas City
7D
-0.5%
1Y
-2.5%
MG
CA$73.47
Magna International
7D
-3.6%
1Y
20.9%
CM
CA$126.61
Canadian Imperial Bank of Commerce
7D
-1.2%
1Y
39.7%

CM: Net Interest Margins And Credit Costs Will Continue To Shape Earnings Outlook

The analyst price target for Canadian Imperial Bank of Commerce has been modestly raised to C$124.88 from C$122.57 as analysts factor in stronger revenue growth, slightly higher profit margins, and improving expectations around net interest margin sustainability and credit trends. Analyst Commentary Recent Street research reflects a generally constructive stance on Canadian Imperial Bank of Commerce, with a series of incremental price target increases and a mix of positive and more cautious views on the bank's earnings trajectory.
CNR
CA$134.95
Canadian National Railway
7D
-0.4%
1Y
-8.2%
CSU
CA$3,316.17
Constellation Software
7D
-1.7%
1Y
-26.9%
TD
CA$129.16
Toronto-Dominion Bank
7D
0.9%
1Y
69.0%
L
CA$61.45
Loblaw Companies
7D
-0.7%
1Y
28.6%
CLS
CA$422.88
Celestica
7D
3.8%
1Y
208.4%
CNQ
CA$45.07
Canadian Natural Resources
7D
2.5%
1Y
3.7%
BAM
CA$73.13
Brookfield Asset Management
7D
1.5%
1Y
-7.2%