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Canadian (TSX) Market Analysis & Valuation

UpdatedJun 16, 2026
DataAggregated Company Financials
Companies2196
  • 7D2.1%
  • 3M7.9%
  • 1Y32.3%
  • YTD12.3%

The market is up 2.1% in the last 7 days, led by the Materials and Financials sectors. The market is up 32% over the last 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
Tue, 16 Jun 2026CA$5.5tCA$2.2tCA$243.9b16.4x22.6x2.5x
Thu, 14 May 2026CA$5.5tCA$2.2tCA$246.1b16.9x22.4x2.5x
Sat, 11 Apr 2026CA$5.3tCA$2.2tCA$241.1b16.7x21.9x2.4x
Mon, 09 Mar 2026CA$5.2tCA$2.1tCA$239.7b16.8x21.7x2.4x
Wed, 04 Feb 2026CA$5.1tCA$2.1tCA$223.9b17.3x22.6x2.4x
Fri, 02 Jan 2026CA$4.9tCA$2.1tCA$224.4b16.4x22x2.3x
Sun, 30 Nov 2025CA$4.9tCA$2.1tCA$224.1b16.4x21.7x2.3x
Tue, 28 Oct 2025CA$4.7tCA$2.2tCA$215.4b16.5x21.9x2.2x
Thu, 25 Sep 2025CA$4.7tCA$2.2tCA$209.0b16.4x22.4x2.2x
Sat, 23 Aug 2025CA$4.4tCA$2.1tCA$201.8b16.1x21.9x2.1x
Mon, 21 Jul 2025CA$4.3tCA$2.1tCA$191.2b16.1x22.7x2x
Wed, 18 Jun 2025CA$4.3tCA$2.1tCA$191.7b15.4x22.3x2x
Fri, 16 May 2025CA$4.0tCA$2.1tCA$180.5b14.3x22.4x1.9x
Sun, 13 Apr 2025CA$3.8tCA$2.1tCA$173.2b14.4x21.7x1.8x
Tue, 11 Mar 2025CA$3.9tCA$2.1tCA$175.3b14.7x22.5x1.8x
Thu, 06 Feb 2025CA$3.9tCA$2.1tCA$170.6b14.5x22.9x1.8x
Sat, 04 Jan 2025CA$3.9tCA$2.1tCA$169.2b14.4x23x1.8x
Mon, 02 Dec 2024CA$4.0tCA$2.1tCA$166.3b14.8x24x1.9x
Wed, 30 Oct 2024CA$3.9tCA$2.1tCA$168.1b15.4x23.3x1.8x
Fri, 27 Sep 2024CA$3.8tCA$2.1tCA$167.5b15.3x22.7x1.8x
Sun, 25 Aug 2024CA$3.7tCA$2.1tCA$166.6b15.2x22.3x1.8x
Tue, 23 Jul 2024CA$3.6tCA$2.1tCA$167.8b14.3x21.7x1.8x
Thu, 20 Jun 2024CA$3.5tCA$2.1tCA$167.4b14x20.7x1.7x
Sat, 18 May 2024CA$3.6tCA$2.0tCA$167.0b14.2x21.7x1.8x
Mon, 15 Apr 2024CA$3.5tCA$2.1tCA$174.6b14.1x20.2x1.7x
Wed, 13 Mar 2024CA$3.5tCA$2.1tCA$173.3b13.8x20.1x1.7x
Fri, 09 Feb 2024CA$3.4tCA$2.1tCA$174.6b12.9x19.2x1.6x
Sun, 07 Jan 2024CA$3.4tCA$2.1tCA$173.2b13x19.5x1.6x
Tue, 05 Dec 2023CA$3.3tCA$2.1tCA$172.0b12.2x19x1.6x
Thu, 02 Nov 2023CA$3.1tCA$2.1tCA$184.5b11.5x16.6x1.5x
Sat, 30 Sep 2023CA$3.2tCA$2.1tCA$185.1b11.5x17.2x1.5x
Mon, 28 Aug 2023CA$3.2tCA$2.1tCA$184.9b11.5x17.4x1.5x
Wed, 26 Jul 2023CA$3.3tCA$2.1tCA$200.1b11.8x16.6x1.6x
Fri, 23 Jun 2023CA$3.2tCA$2.1tCA$200.8b11x15.9x1.5x
Price to Earnings Ratio

15.9x


Total Market Cap: CA$3.2tTotal Earnings: CA$200.8bTotal 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 6.7% 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 Market2.13%
Materials7.07%
Consumer Discretionary3.96%
Financials3.25%
Real Estate1.72%
Consumer Staples1.30%
Utilities1.30%
Telecom0.57%
Tech0.40%
Industrials-1.14%
Energy-2.04%
Healthcare-4.24%
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$278.462.1%
+CA$8.1b		59.1%PB3xFinancials
TD Toronto-Dominion BankCA$164.273.0%
+CA$7.9b		70.3%PB2.2xFinancials
BNS Bank of Nova ScotiaCA$118.384.8%
+CA$6.6b		59.0%PB1.7xFinancials
WPM Wheaton Precious MetalsCA$173.408.3%
+CA$6.0b		39.1%PE31.3xMaterials
ABX Barrick MiningCA$58.626.5%
+CA$6.0b		101.4%PE11.5xMaterials
See more

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Latest News

CNQ
CA$61.69
Canadian Natural Resources
7D
-4.6%
1Y
36.4%
TD
CA$164.27
Toronto-Dominion Bank
7D
3.0%
1Y
70.3%
BAM
CA$67.37
Brookfield Asset Management
7D
5.0%
1Y
-9.6%
RY
CA$278.46
Royal Bank of Canada
7D
2.1%
1Y
59.1%
SU
CA$83.39
Suncor Energy
7D
-5.4%
1Y
51.0%
CM
CA$159.15
Canadian Imperial Bank of Commerce
7D
4.1%
1Y
70.5%
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.
BNS
CA$118.38
Bank of Nova Scotia
7D
4.8%
1Y
59.0%
CSU
CA$2,905.25
Constellation Software
7D
-1.9%
1Y
-40.0%
BN
CA$63.99
Brookfield
7D
3.7%
1Y
20.8%
TRI
CA$112.70
Thomson Reuters
7D
-2.9%
1Y
-58.3%
WPM
CA$173.40
Wheaton Precious Metals
7D
8.3%
1Y
39.1%
ABX
CA$58.62
Barrick Mining
7D
6.5%
1Y
101.4%
Narrative Update • Jun 09

ABX: Buybacks And Portfolio Shift Will Support Future Rerating Potential

Analysts have increased their fair value estimate for Barrick Mining from CA$95.63 to CA$96.49, citing updated assumptions for revenue growth, discount rate, profit margin, and future P/E, as reflected in recent Street research. Analyst Commentary Recent Street research on peer companies such as Abacus Global highlights how bullish analysts tend to respond when they see strong execution or a valuation that still looks appealing after a period of gains.
CNR
CA$164.27
Canadian National Railway
7D
-2.6%
1Y
15.5%
CVE
CA$37.96
Cenovus Energy
7D
-5.3%
1Y
90.8%
Narrative Update • Jun 08

CVE: Future Cash Returns Will Hinge On Volume And Free Cash Flow Inflection

Analysts have nudged the Cenovus Energy fair value estimate higher to CA$45.91 from CA$45.47, reflecting a series of recent price target increases to around CA$47. These increases are tied to expectations for a volume and free cash flow inflection as new projects come online and potential benefits from higher commodity prices.
TOU
CA$61.26
Tourmaline Oil
7D
-4.6%
1Y
-7.7%
IMO
CA$168.35
Imperial Oil
7D
-1.6%
1Y
52.6%
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.