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Canadian (TSX) Market Analysis & Valuation

UpdatedJun 10, 2026
DataAggregated Company Financials
Companies2194
  • 7D-2.5%
  • 3M4.4%
  • 1Y30.6%
  • YTD9.5%

In the last week, the market has stayed flat, however the Healthcare sector stood out, gaining 4.8%. As for the longer term, the market has risen 30% in the past 12 months. 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
Wed, 10 Jun 2026CA$5.4tCA$2.2tCA$243.9b15.8x22.3x2.4x
Fri, 08 May 2026CA$5.3tCA$2.2tCA$243.2b16.4x21.9x2.4x
Sun, 05 Apr 2026CA$5.2tCA$2.2tCA$241.4b16.2x21.5x2.4x
Tue, 03 Mar 2026CA$5.4tCA$2.1tCA$238.8b17.6x22.6x2.5x
Thu, 29 Jan 2026CA$5.2tCA$2.1tCA$224.0b17.4x23.2x2.4x
Sat, 27 Dec 2025CA$5.0tCA$2.1tCA$224.3b16.5x22.1x2.3x
Mon, 24 Nov 2025CA$4.7tCA$2.1tCA$224.6b15.9x20.9x2.2x
Wed, 22 Oct 2025CA$4.7tCA$2.2tCA$209.5b16.2x22.6x2.2x
Fri, 19 Sep 2025CA$4.6tCA$2.1tCA$208.7b16.4x22x2.1x
Sun, 17 Aug 2025CA$4.4tCA$2.1tCA$201.7b15.8x21.8x2.1x
Tue, 15 Jul 2025CA$4.3tCA$2.1tCA$191.8b16.1x22.5x2x
Thu, 12 Jun 2025CA$4.3tCA$2.1tCA$191.8b15.4x22.2x2x
Sat, 10 May 2025CA$4.0tCA$2.1tCA$179.9b14.7x22.5x1.9x
Mon, 07 Apr 2025CA$3.7tCA$2.1tCA$173.9b14x21.4x1.8x
Wed, 05 Mar 2025CA$4.0tCA$2.1tCA$172.2b14.5x23x1.8x
Fri, 31 Jan 2025CA$3.9tCA$2.1tCA$172.0b14.8x22.9x1.8x
Sun, 29 Dec 2024CA$3.9tCA$2.1tCA$169.2b14.1x22.9x1.8x
Tue, 26 Nov 2024CA$4.0tCA$2.1tCA$166.4b14.5x23.8x1.9x
Thu, 24 Oct 2024CA$3.9tCA$2.1tCA$167.9b15.4x23.4x1.9x
Sat, 21 Sep 2024CA$3.8tCA$2.1tCA$167.5b15.2x22.7x1.8x
Mon, 19 Aug 2024CA$3.7tCA$2.1tCA$170.0b14.7x21.7x1.8x
Wed, 17 Jul 2024CA$3.7tCA$2.0tCA$167.6b14x21.8x1.8x
Fri, 14 Jun 2024CA$3.5tCA$2.1tCA$167.4b14x20.9x1.7x
Sun, 12 May 2024CA$3.6tCA$2.1tCA$168.5b14x21.5x1.8x
Tue, 09 Apr 2024CA$3.6tCA$2.0tCA$174.2b14x20.5x1.7x
Thu, 07 Mar 2024CA$3.5tCA$2.1tCA$173.1b14.1x19.9x1.7x
Sat, 03 Feb 2024CA$3.4tCA$2.1tCA$170.5b13x19.9x1.6x
Mon, 01 Jan 2024CA$3.4tCA$2.1tCA$172.8b13.3x19.5x1.6x
Wed, 29 Nov 2023CA$3.2tCA$2.1tCA$178.6b11.8x18x1.5x
Fri, 27 Oct 2023CA$3.1tCA$2.1tCA$184.4b11.2x16.7x1.5x
Sun, 24 Sep 2023CA$3.2tCA$2.1tCA$184.3b11.7x17.4x1.5x
Tue, 22 Aug 2023CA$3.2tCA$2.1tCA$185.8b11.4x17.3x1.5x
Thu, 20 Jul 2023CA$3.3tCA$2.1tCA$199.6b11.5x16.5x1.6x
Sat, 17 Jun 2023CA$3.2tCA$2.1tCA$200.3b11.3x16.1x1.5x
Price to Earnings Ratio

16.1x


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 Market-2.46%
Consumer Staples5.17%
Healthcare4.30%
Financials2.27%
Real Estate1.86%
Utilities0.61%
Consumer Discretionary0.60%
Telecom-0.54%
Industrials-0.71%
Energy-3.97%
Tech-8.89%
Materials-12.00%
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 22.5%, which is higher than its past year's earnings growth of 3.0% per year.
Forecasted Growth
  • Analysts are most optimistic on the Healthcare sector, expecting annual earnings growth of 40% over the next 5 years.
  • This is roughly in line with its past earnings growth rate.
  • 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$276.014.3%
+CA$15.9b		57.3%PB3xFinancials
L Loblaw CompaniesCA$66.307.6%
+CA$5.4b		18.6%PE29.2xConsumer Staples
TD Toronto-Dominion BankCA$159.932.1%
+CA$5.4b		65.3%PB2.2xFinancials
CM Canadian Imperial Bank of CommerceCA$154.532.9%
+CA$4.0b		64.9%PB2.2xFinancials
WN George WestonCA$104.547.9%
+CA$2.9b		16.1%PE39.3xConsumer Staples
See more

Market Insights

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Latest News

LUN
CA$37.16
Lundin Mining
7D
-15.7%
1Y
161.5%
ABX
CA$54.53
Barrick Mining
7D
-8.7%
1Y
98.9%
ATD
CA$82.33
Alimentation Couche-Tard
7D
3.9%
1Y
10.8%
BNS
CA$113.87
Bank of Nova Scotia
7D
2.0%
1Y
53.9%
L
CA$66.30
Loblaw Companies
7D
7.6%
1Y
18.6%
WN
CA$104.54
George Weston
7D
7.9%
1Y
16.1%
RY
CA$276.01
Royal Bank of Canada
7D
4.3%
1Y
57.3%
Narrative Update • Jun 07

RY: Future Returns Will Rely On Fee Income Strength And Disciplined AI Use

Analysts have lifted the Royal Bank of Canada fair value estimate from CA$250.25 to about CA$265.46. They point to a series of higher Street price targets clustered around CA$260 to CA$279 and cite fee income strength, a slightly lower discount rate, and a modestly higher profit margin assumption, even as expected revenue growth and future P/E are set at somewhat more restrained levels.
CCO
CA$142.51
Cameco
7D
-14.6%
1Y
63.2%
Narrative Update • Jun 07

CCO: Future Earnings Profile Will Reflect Uranium Contracting And Premium P E Multiple

Analysts have trimmed their CA$ fair value estimate for Cameco to about CA$178, a reduction of roughly CA$2. They cite updated assumptions around slightly higher revenue growth, a modestly stronger profit margin, and a lower future P/E multiple.
TD
CA$159.93
Toronto-Dominion Bank
7D
2.1%
1Y
65.3%
CLS
CA$515.94
Celestica
7D
-21.0%
1Y
210.6%
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.
FNV
CA$295.61
Franco-Nevada
7D
-9.4%
1Y
31.3%
Narrative Update • Jun 06

FNV: Cobre Panama Restart And New Deals Will Drive Future Upside

Analysts have nudged their fair value estimate for Franco-Nevada slightly higher to CA$410.64, reflecting updated assumptions on revenue growth, margins and P/E, alongside recent price target increases and upgrades tied to expectations around Cobre Panama and a pipeline of potential new deals. Analyst Commentary Recent research around Franco-Nevada has leaned constructive, with several firms adjusting ratings and price targets as they revisit assumptions on Cobre Panama, transaction activity and commodity exposure.
SU
CA$85.32
Suncor Energy
7D
-5.6%
1Y
65.8%
Narrative Update • Jun 06

SU: Buybacks And Operational Momentum Will Shape Future Margin Expectations

Analysts have nudged the implied fair value for Suncor Energy higher to CA$99.16 from CA$97.05, citing a mix of higher price targets across several firms and updated assumptions around profitability, discount rates, and future P/E multiples that now more fully reflect the recent operational turnaround. Analyst Commentary Recent research shows a mix of optimism and caution around Suncor Energy, with several firms revising price targets and ratings as the operational turnaround becomes more embedded in current valuations.
CNQ
CA$62.38
Canadian Natural Resources
7D
-4.6%
1Y
41.7%
Narrative Update • Jun 05

CNQ: Future Buybacks And Pipeline Decisions Will Shape Shareholder Returns

The fair value estimate for Canadian Natural Resources has been adjusted from CA$69.75 to CA$71.05 as analysts incorporate a series of higher Street price targets and updated assumptions for revenue growth, margins, and future P/E multiples. Analyst Commentary Recent Street research on Canadian Natural Resources has been active, with multiple firms updating ratings and price targets.
NA
CA$207.27
National Bank of Canada
7D
3.0%
1Y
54.1%
Narrative Update • Jun 03

NA: Future Returns Will Reflect Dividend Strength And Balanced Execution Risks

Analysts have raised the fair value estimate for National Bank of Canada to CA$202.77 from CA$188.15, reflecting recent increases in Street price targets, including moves up to CA$221, CA$217, CA$214, CA$206.50 and CA$188 following fiscal Q2 results and updated estimates across the major Canadian banks. Analyst Commentary Recent Street commentary on National Bank of Canada centers on a series of price target revisions across multiple firms following fiscal Q2 results and refreshed estimates for the large Canadian banks.
WPM
CA$156.89
Wheaton Precious Metals
7D
-13.0%
1Y
30.1%
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.
CM
CA$154.53
Canadian Imperial Bank of Commerce
7D
2.9%
1Y
64.9%