Undervalued Stocks in the S&P/TSX Composite Index November 2025

November 03, 2025

November 2025

BIP.UN:TSE

S&P/TSX Composite Index

The S&P/TSX Composite Index is a Canadian index that represents roughly 70% of the total market capitalization on the Toronto Stock Exchange, with about 250 companies included in it.

Our Valuation

A stock is considered undervalued if it trades at a discount to our valuation. To determine a stock’s intrinsic value, we developed an algorithm that uses 6 valuation models to determine the value of a company.* To learn more about stockcalc’s valuation methods, click here.

Undervalued stocks in the S&P/TSX Composite Index

Stocks in this category are held primarily for potential income and capital appreciation.

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Symbol	Name	Close Price ($)	Valuation ($)	Difference (%)	Average Vol (30D)	Market Cap ($M)	Yield (%)	P/E Ratio
BIP.UN	Brookfield Infr Partners	45.45	70.15	54.35	413762	20993	5.14	0.0
AQN	Algonquin Power	7.52	9.95	32.33	1778104	5795	5.61	19.4
MG	Magna International	49.82	64.03	28.53	2516783	14049	5.39	9.0
RCI.B	Rogers Communications	36.84	47.27	28.30	1453090	19857	5.43	11.4
ABX	Barrick Mining	26.32	30.19	14.71	3883097	45402	2.13	14.4
BCE	BCE	29.90	34.14	14.19	4019207	27517	13.34	71.2
CAR.UN	CAPREIT	44.76	50.43	12.67	400825	7295	3.37	63.3
OTEX	Open Text	38.86	43.57	12.11	869347	10253	3.74	11.5
EMA	Emera	62.91	69.32	10.19	1478615	18703	4.60	21.4
CNR	Canadian National Railway	144.26	158.18	9.65	1423077	90639	2.37	20.2

All data provided as at market close May 29, 2025.

Company Details

Brookfield Infr Partners

BIP.UN:TSX

Close Price

45.45

Our Valuation

70.15

% Difference

54.35

Market Cap ($M)

20993

P/E Ratio

0.0

Brookfield Infrastructure Partners LP is a Bermuda exempted limited partnership that owns and operates quality, long-life assets that generate stable cash flows, by virtue of barriers to entry or other characteristics that tend to appreciate in value over time. It focuses on acquiring infrastructure assets that have low maintenance capital costs and high barriers to entry. The company's segments consist of Utilities, Transport, Midstream, and Data.

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Algonquin Power

AQN:TSX

Close Price

7.52

Our Valuation

9.95

% Difference

32.33

Market Cap ($M)

5795

P/E Ratio

19.4

Algonquin Power & Utilities Corp is a Canada-based diversified international generation, transmission, and distribution company.

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Magna International

MG:TSX

Close Price

49.82

Our Valuation

64.03

% Difference

28.53

Market Cap ($M)

14049

P/E Ratio

9.0

Magna International prides itself on an entrepreneurial culture and a corporate constitution that outlines the distribution of profits to various stakeholders. This automotive supplier's product groups include exteriors, interiors, seating, roof systems, body and chassis, powertrain, vision and electronic systems, closure systems, electric vehicle systems, tooling and engineering, and contract vehicle assembly. In 2024, 48% of Magna's USD 42.

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Rogers Communications

RCI.B:TSX

Close Price

36.84

Our Valuation

47.27

% Difference

28.30

Market Cap ($M)

19857

P/E Ratio

11.4

Rogers Communications is the largest wireless service provider in Canada, with its more than 11 million subscribers equating to one third of the total Canadian market. Its wireless business accounted for more than half of total revenue and has increasingly been providing a bigger portion of total company sales over the last several years.

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Barrick Mining

ABX:TSX

Close Price

26.32

Our Valuation

30.19

% Difference

14.71

Market Cap ($M)

45402

P/E Ratio

14.4

Based in Toronto, Barrick Gold is one of the world's largest gold miners. In 2024, the firm produced nearly 3.9 million attributable ounces of gold and about 430 million pounds of copper. At year-end 2024, Barrick had about two decades of gold reserves along with significant copper reserves. After buying Randgold in 2019 and combining its Nevada mines in a joint venture with competitor Newmont later that year, it operates mines in 19 countries in the Americas, Africa, the Middle East, and Asia.

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BCE

BCE:TSX

Close Price

29.90

Our Valuation

34.14

% Difference

14.19

Market Cap ($M)

27517

P/E Ratio

71.2

BCE provides wireless, broadband, television, and landline phone services in Canada. It is one of the Big Three national wireless carriers, with over 10 million customers constituting about 30% of the market. It is also the incumbent local exchange carrier—the legacy telephone provider—throughout much of the eastern half of Canada, including in the most populous Canadian provinces: Ontario and Quebec. BCE has a media segment that holds television, radio, and digital media assets.

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CAPREIT

CAR.UN:TSX

Close Price

44.76

Our Valuation

50.43

% Difference

12.67

Market Cap ($M)

7295

P/E Ratio

63.3

Canadian Apartment Properties Real Estate Investment Trust, or CAPREIT, is a real estate investment trust. It owns and manages interests in multi-unit residential rental properties, including mainly apartments and townhomes, located in Canada, the Netherlands, Germany, and Belgium. The company operates in the following reportable segments; Canada and Europe.

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Open Text

OTEX:TSX

Close Price

38.86

Our Valuation

43.57

% Difference

12.11

Market Cap ($M)

10253

P/E Ratio

11.5

Open Text Corp is engaged in the design, development, marketing, and sale of Information Management software and solutions. Its software allows clients to archive, aggregate, retrieve, and search unstructured information (such as documents, e-mail, and presentations). Its platform and services provide secure and scalable solutions for enterprises, SMBs, governments, and consumers around the world.

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Emera

EMA:TSX

Close Price

62.91

Our Valuation

69.32

% Difference

10.19

Market Cap ($M)

18703

P/E Ratio

21.4

Emera is a geographically diverse energy and services company investing in electricity generation, transmission, and distribution as well as gas transmission and utility energy services. Emera has operations throughout North America and the Caribbean countries.

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Canadian National Railway

CNR:TSX

Close Price

144.26

Our Valuation

158.18

% Difference

9.65

Market Cap ($M)

90639

P/E Ratio

20.2

Canadian National's railway spans Canada from coast to coast and extends through Chicago to the Gulf of Mexico. In 2024, CN generated CAD 17 billion in revenue by hauling intermodal containers (22% of consolidated revenue), petroleum and chemicals (20%), grain and fertilizers (20%), forest products (11%), metals and minerals (12%), automotive shipments (5%), and coal (5%). Other items constitute the remaining revenue.

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