Canadians attempting to find a progress inventory that may “supercharge” in 2026 ought to preserve it easy: search for a enterprise with a transparent demand tailwind, rising money technology, and a catalyst that may present up in quarterly numbers. If administration provides assured steering and nonetheless has room to shock, even higher. Valuation issues, too. If the value already assumes perfection, nice outcomes can nonetheless disappoint. Additionally search for a moat that holds. So let’s see the place these two progress shares sit.
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SHOP
Shopify (TSX:SHOP) runs the commerce working system for tens of millions of retailers, from first-time entrepreneurs to world manufacturers. It makes cash from subscriptions and a rising suite of service provider companies, together with funds. During the last 12 months, the story stayed constant: it saved taking share in e-commerce whereas pushing instruments that make promoting simpler throughout channels.
The large headline hit on Feb. 11, 2026, when it reported a standout 12 months and likewise reminded traders that progress shares by no means get a free cross. For 2025, it delivered $11.6 billion in income and $2 billion in free money circulate, and it launched a $2 billion share repurchase program. It additionally reported working revenue of $1.5 billion for 2025, which indicators the enterprise has matured past the “develop at any price” part. In This autumn, income jumped 31% 12 months over 12 months to $3.7 billion and free money circulate got here in at $715 million, whereas gross service provider worth (GMV) reached about $123.8 billion.
The 2026 setup hinges on whether or not it could possibly preserve progress excessive whereas staying disciplined on money. For Q1 2026, it guided for income progress within the low-thirties % vary and a free money circulate margin within the low-to-mid teenagers. That outlook suggests heavier funding as synthetic intelligence (AI) shifts how individuals store and the way retailers run operations. The chance is margin wobble whereas it funds new bets, plus any slowdown in shopper spending that hits retailers first.
CLS
Celestica (TSX:CLS) might not really feel like a “glamour” title, which is a part of the enchantment. It builds and provides {hardware} and manufacturing options that sit inside knowledge centres, cloud infrastructure, and different advanced methods. When hyperscalers develop capability, it could possibly win greater applications, scale manufacturing, and widen margins. That places it within the slipstream of AI spending with no need to invent the subsequent app.
Its final 12 months has revolved across the AI data-centre buildout and the way shortly it’s changing demand into earnings. In late January 2026, it reported This autumn 2025 income of $3.65 billion and non-GAAP adjusted earnings per share (EPS) of $1.89, above the excessive finish of its steering. For the total 12 months, it reported income of $12.4 billion, up 28%, whereas adjusted EPS grew 56% 12 months over 12 months.
What makes 2026 attention-grabbing is the arrogance within the ahead numbers. It raised its 2026 annual outlook to income of $17 billion and non-GAAP adjusted EPS of $8.75, pointing to a different step up as clients preserve spending on AI infrastructure. It additionally saved its adjusted working margin goal at 7.8%, which provides traders a easy scorecard because the 12 months unfolds. The chance is that {hardware} cycles can cool quick if clients pause orders, and the expansion inventory has already had an enormous run, so any stumble can hit laborious.
Backside line
So, might these progress shares be buys for Canadians who need progress in 2026? It depends upon what you may abdomen. Shopify provides an extended runway and powerful money technology, however it carries a premium a number of and can preserve going through “present me” moments round margins. Celestica provides a direct line to AI infrastructure spend and has raised steering, however it lives in a cycle-heavy world the place sentiment can flip shortly. In order for you supercharged upside, each can match, however provided that you settle for that the journey can get bumpy quick.
