Canadian traders who get overly fixated on U.S. expertise shares as progress performs might simply miss the explosive high Canadian progress shares to purchase in 2026. Progress is occurring at dwelling too, and one of many TSX progress shares I’ll discuss has already generated 101% in complete returns throughout the previous 12 months and stays unstoppable. The actual wealth-compounding is occurring within the Canadian mid-cap firms which are quietly dominating their respective niches.
In the event you’re seeking to beat the TSX in 2026, it’s time to look previous the veil of volatility-inducing tariff headlines and give attention to companies with accelerating earnings and big runways for growth.
Listed below are three high Canadian progress shares that appear to be absolute steals proper now.
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Alternate Earnings Corp: A high progress inventory to purchase for 2026
Alternate Earnings Corp (TSX:EIF) is a extensively diversified industrial manufacturing inventory that’s enriching its shareholders after sustaining double-digit income and earnings progress charges over the previous 5 years. Usually often called a month-to-month dividend inventory for passive revenue functions, Alternate Earnings is a classy acquisitions-led progress inventory to purchase in 2026.
EIF focuses on shopping for worthwhile, area of interest aviation and manufacturing companies that present important providers. It owns companies with large aggressive moats that constantly generate optimistic money stream, replenishing the precious money useful resource administration used to finance new acquisitions that maintain double-digit progress momentum.
The corporate has since introduced a brand new acquisition this 12 months. It acquired MnM Plane Part Holdings (MACH 2) this month.
Furthermore, the corporate’s aerospace and aviation phase offers with defence contractors and authorities defence businesses. As Canada, Europe and the Center-East improve their defence budgets, I speculate that Alternate Earnings might earn a great portion of the brand new safety spend.
Regardless of its constant double-digit income and earnings progress, EIF inventory trades at a ahead P/E of simply 25 occasions. While you think about its earnings progress trajectory, the inventory carries a ahead price-earnings-to-growth (PEG) ratio of roughly 1. The expansion inventory continues to be pretty valued regardless of a 94% rally throughout the previous 12 months. Its rising month-to-month dividends, which yield 2.8% at present, lifted complete returns for traders to 102% over the previous 12 months.
Discovering a confirmed progress compounder with a PEG ratio at or beneath 1 is uncommon. It is a uncommon alternative to purchase a dividend-paying enterprise with an thrilling funding returns profile.
An undervalued progress inventory: Safe Waste Infrastructure
If you wish to play the vitality sector with out the stomach-churning volatility of oil costs, Safe Waste Infrastructure (TSX:SES) inventory is your finest wager. Previously often called Safe Power Companies inventory, Safe Waste Infrastructure offers the crucial waste administration and environmental infrastructure that the vitality business requires. As environmental laws tighten, the waste administration firm’s specialised services turn out to be extra precious. The corporate’s providers ought to see rising recurring demand as Canadian vitality firms develop manufacturing.
The corporate has spent the final 12 months optimizing its large asset base within the Montney area following a collection of consolidations. The result’s a resilient, high-margin infrastructure enterprise that generates unbelievable quantities of money stream from environmental waste administration, vitality infrastructure, and oilfield providers. Whereas the market treats it like a cyclical vitality inventory, its income has been far stickier than many traders appear to acknowledge.
U.S. metal tariffs in 2025 ate into money stream, however the firm has recalibrated its metals recycling phase to mitigate tariff-related disruptions. Administration guides for vital working earnings progress in 2026 and has simply elevated dividends by 5% in a present of confidence within the firm’s money stream and enterprise outlook.
Up 12.6% up to now this 12 months, SES inventory at present trades at a ahead P/E of solely 15.8 occasions. Its PEG ratio sits deep in undervalued territory at 0.7, suggesting the market is considerably underestimating the enterprise’s future earnings progress potential.