Most buyers spend years attempting to find a inventory that may ship 10 instances returns. The problem isn’t discovering firms with good merchandise. It’s discovering ones the place the expansion is actual, the funds are stable, and the timing is true.
Proper now, three TSX-listed firms — Capstone Copper (TSX:CS), VitalHub (TSX:VHI), and Electrovaya (TSX: ELVA) — are checking these bins. Every is rising quick, backed by robust fundamentals, and working in sectors which are solely getting greater.
Right here’s why they deserve a severe look.
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Capstone Copper: Document manufacturing and a copper worth tailwind
Copper is having a second. Costs are sitting close to US$5.7 per pound, and the long-term demand story, pushed by electrical autos, AI knowledge facilities, and energy grid upgrades, isn’t going away.
Capstone Copper is without doubt one of the best-positioned firms to learn. In 2025, it reported consolidated copper manufacturing of 225,000 tonnes, up 22% yr over yr (YoY).
Earnings earlier than curiosity, taxes, depreciation, and amortization (EBITDA) hit a quarterly report of US$308 million in This fall, a 79% bounce from the identical interval a yr earlier. Capstone has now posted report EBITDA for 5 consecutive quarters.
Chief Monetary Officer Raman Randhawa laid out what’s coming subsequent.
At copper costs between US$5.50 and US$6.50 per pound, the corporate expects 2026 EBITDA of US$1.2 billion to US$1.7 billion. By 2027, that quantity may strategy US$1.7 billion to US$2.3 billion, roughly 40% increased than present ranges.
The Mantoverde Optimize mission, budgeted at US$176 million, is predicted so as to add 20,000 tonnes of annual copper manufacturing at a capital depth of round US$9,000 per ton, which is low by business requirements.
Internet debt leverage has already dropped from 1.5 instances EBITDA on the finish of 2024 to 0.8 instances by the tip of 2025. The steadiness sheet is getting cleaner as money flows develop.
VitalHub: A healthcare software program firm approaching a serious milestone
Annual recurring income (ARR) of practically $100 million. Eleven consecutive quarters of constructive EBITDA. A web revenue in fiscal 2025. These aren’t the numbers most individuals affiliate with a small-cap Canadian tech inventory.
VitalHub builds software program for hospitals and healthcare programs, primarily in Canada, the UK, and Australia. Its merchandise assist handle affected person circulation, referrals, digital care, and scientific workflows.
Valued at a market cap of $490 million, the corporate reported complete income of $32 million in Q3, up 94% YoY, and closed the quarter with $123.8 million in money and nil debt.
CEO Dan Matlow mentioned the corporate is already “knocking on the door” of $100 million in ARR. That’s a threshold that tends to draw a unique class of institutional investor.
VitalHub has grown largely via acquisitions, the place it purchases underperforming healthcare software program companies, cuts prices by shifting growth work to its Sri Lanka workforce, and step by step improves margins. The playbook is repeatable.
Matlow mentioned the corporate plans to succeed in its goal EBITDA margin profile of 26% to twenty-eight% by mid- to late 2026. With $124 million in money and no debt, it has room to maintain shopping for.
Electrovaya: A worthwhile battery maker constructed for the AI financial system
Worthwhile lithium-ion battery producers primarily based in North America are uncommon, and Electrovaya is considered one of them.
It reported practically $70 million in trailing 12-month income, greater than $10 million in adjusted EBITDA, and 11 consecutive quarters of constructive EBITDA.
Electrovaya’s edge is its ceramic separator know-how. Most lithium-ion batteries use polymer separators, which may shrink and fail at excessive temperatures, inflicting fires.
Electrovaya’s separator is over 90% ceramic by weight, making its batteries considerably safer, a essential issue for warehouses, knowledge facilities, and defence purposes.
The corporate already powers 16 Fortune 100 firms via its core materials dealing with enterprise. It’s now increasing into robotics, airport floor gear, defence, and vitality storage for knowledge centres.
A brand new manufacturing facility in Jamestown, N.Y., is predicted to return on-line in 2027, including $150 million to $200 million in annual manufacturing capability. The ability qualifies for federal manufacturing tax credit, which can enhance margins.
CEO Raj Das Gupta mentioned he desires the plant totally utilized as rapidly as potential.