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 offers assured steerage and nonetheless has room to shock, even higher. Valuation issues, too. If the worth 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 hundreds of thousands of retailers, from first-time entrepreneurs to international manufacturers. It makes cash from subscriptions and a rising suite of service provider companies, together with funds. Over the past yr, the story stayed constant: it stored 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 yr and likewise reminded traders that progress shares by no means get a free move. For 2025, it delivered $11.6 billion in income and $2 billion in free money circulation, and it launched a $2 billion share repurchase program. It additionally reported working earnings of $1.5 billion for 2025, which alerts the enterprise has matured past the “develop at any value” part. In This autumn, income jumped 31% yr over yr to $3.7 billion and free money circulation 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 actually preserve progress excessive whereas staying disciplined on money. For Q1 2026, it guided for income progress within the low-thirties p.c vary and a free money circulation 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 danger is margin wobble whereas it funds new bets, plus any slowdown in client spending that hits retailers first.
CLS
Celestica (TSX:CLS) could not really feel like a “glamour” title, which is a part of the attraction. It builds and provides {hardware} and manufacturing options that sit inside information centres, cloud infrastructure, and different advanced techniques. When hyperscalers increase capability, it could actually win larger packages, scale manufacturing, and widen margins. That places it within the slipstream of AI spending without having to invent the following app.
Its final yr has revolved across the AI data-centre buildout and the way rapidly 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 steerage. For the complete yr, it reported income of $12.4 billion, up 28%, whereas adjusted EPS grew 56% yr over yr.
What makes 2026 fascinating 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 prospects preserve spending on AI infrastructure. It additionally stored its adjusted working margin goal at 7.8%, which supplies traders a easy scorecard because the yr unfolds. The danger is that {hardware} cycles can cool quick if prospects 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 is determined by what you’ll be able to abdomen. Shopify provides a protracted runway and robust money technology, but it surely carries a premium a number of and can preserve dealing with “present me” moments round margins. Celestica provides a direct line to AI infrastructure spend and has raised steerage, but it surely lives in a cycle-heavy world the place sentiment can flip rapidly. If you need supercharged upside, each can match, however provided that you settle for that the journey can get bumpy quick.