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Manufacturing in Canada

This page gathers the figures we hold on manufacturing in Canada. Each section names its own source.

Each source groups industries its own way, so the edges of manufacturing differ a little from section to section.

What businesses sold for

The median and the middle half, in times EBITDA. The figure is the median. Under it are the middle half and the number of deals.
  1. Manufacturing8.0 times EBITDA, middle half 5.0 to 10.5, 30+ deals
  2. Building materials6.5 times EBITDA, 5+ deals
  3. Food and beverage manufacturing10.5 times EBITDA, middle half 8.5 to 12.5, 10+ deals
  4. Industrial and engineered products5.0 times EBITDA, middle half 4.5 to 10.0, 10+ deals
  5. Pharmaceutical and health products10.0 times EBITDA, 5+ deals
Deal details

Manufacturing: median 8.0 times EBITDA. The middle half of deals ran from 5.0 to 10.5 times (30+ deals of C$9.1 million to C$455 million, announced 2003 to 2026).

Building materials: median 6.5 times EBITDA (5+ deals of C$9.1 million to C$455 million, announced 2019 to 2026).

Food and beverage manufacturing: median 10.5 times EBITDA. The middle half of deals ran from 8.5 to 12.5 times (10+ deals of C$9.1 million to C$455 million, announced 2005 to 2025).

Industrial and engineered products: median 5.0 times EBITDA. The middle half of deals ran from 4.5 to 10.0 times (10+ deals of C$9.1 million to C$455 million, announced 2010 to 2025).

Pharmaceutical and health products: median 10.0 times EBITDA (5+ deals of C$9.1 million to C$455 million, announced 2014 to 2026).

Sizes are converted from our size range of A$10 million to A$500 million, at the fixed rate our database uses to place overseas deals: C$1 = A$1.10. The rate stays fixed, so the range always describes the same deals.

See what Canadian businesses sell for, by sector.

These are deals for Canadian businesses in our database, not every deal in the market.

Source: deals in our database with a published value. Counts by onestepright.

Compare sale multiples across countries.

Margins

In 2024, operating profit plus depreciation and amortisation came to 10.6% of revenue across the industry. The measure is close to EBITDA.

Operating profit came to 7.1% of revenue, and staff costs took 14.2%.

All of NAICS 31-33, computer and electronic manufacturing included.

Every incorporated business in the industry is added together, so the figures are not a typical business. The measure close to EBITDA is our calculation from Statistics Canada's figures.

Source: adapted from Statistics Canada, Balance sheet, income statement and taxation statistics with selected financial ratios, by non-financial industries (33-10-0500-01), 2024. Ratios computed by onestepright. This does not constitute an endorsement by Statistics Canada of this product.

Businesses that started and stopped

Started and stopped, 2023
  1. Started7.1%All private sector industries12.3%
  2. Stopped7.5%All private sector industries11.9%

Each is a share of the industry's businesses with employees in 2023.

Statistics Canada counts businesses with employees. A business counts as stopped when it no longer has employees. These are Statistics Canada's own rates.

Source: adapted from Statistics Canada, Business Dynamics measures, by industry (33-10-0164-01), 2023. This does not constitute an endorsement by Statistics Canada of this product.

What costs did

What earnings and raw material prices did in this industry. Each comes from its own Statistics Canada series and grouping of industries. Earnings move with the mix of jobs and hours as well as with pay, so they are not a pay rate.

What costs did, the year to June 2026
  1. Earnings+2.6%
  2. Raw material prices+21.0%

Each bar comes from its own Statistics Canada series, named below.

Source: adapted from Statistics Canada, Employment and average weekly earnings (including overtime) for all employees by industry, monthly, seasonally adjusted (14-10-0223-01), June 2025 and June 2026. Change computed by onestepright. This does not constitute an endorsement by Statistics Canada of this product.

Source: adapted from Statistics Canada, Raw materials price index, monthly (18-10-0268-01), June 2025 and June 2026. Change computed by onestepright from the published index. This does not constitute an endorsement by Statistics Canada of this product.

Your own cost mix

Enter the share of your costs that go on inputs and on staff. The box works out what those two changes add to your total costs, if your costs moved with the industry. Nothing you enter leaves this page.

Your own suppliers' prices and pay rises are the better figures, if you have them.

Prices businesses expect to charge

In the third quarter of 2026, 21.6% of manufacturing businesses expected to raise their prices over the next three months. Across all businesses, 20.6% did.

All of NAICS 31-33, computer and electronic manufacturing included.

Statistics Canada asked businesses with employees. Each business counts once, whatever its size.

Source: adapted from Statistics Canada, Business or organization expectations over the next three months, third quarter of 2026 (33-10-1178-01), 2026Q3. This does not constitute an endorsement by Statistics Canada of this product.

Adapted from Statistics Canada under the Statistics Canada Open Licence. This does not constitute an endorsement by Statistics Canada of this product.

See manufacturing in Australia.

See manufacturing in New Zealand.

See manufacturing in the United Kingdom.

See manufacturing in the United States.

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Manufacturing in Canada: deals, margins and costs · onestepright