Canadians trying to find a development inventory that may “supercharge” in 2026 ought to hold it easy: search for a enterprise with a transparent demand tailwind, rising money era, and a catalyst that may present up in quarterly numbers. If administration provides assured steerage 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 development 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 international manufacturers. It makes cash from subscriptions and a rising suite of service provider providers, together with funds. Over the past 12 months, the story stayed constant: it stored taking share in e-commerce whereas pushing instruments that make promoting simpler throughout channels.
The massive headline hit on Feb. 11, 2026, when it reported a standout 12 months and in addition reminded traders that development shares by no means get a free move. For 2025, it delivered $11.6 billion in income and $2 billion in free money movement, and it launched a $2 billion share repurchase program. It additionally reported working earnings of $1.5 billion for 2025, which indicators the enterprise has matured past the “develop at any price” section. In This autumn, income jumped 31% 12 months over 12 months to $3.7 billion and free money movement 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 might probably hold development excessive whereas staying disciplined on money. For Q1 2026, it guided for income development within the low-thirties % vary and a free money movement 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) might not really feel like a “glamour” identify, which is a part of the attraction. It builds and provides {hardware} and manufacturing options that sit inside information centres, cloud infrastructure, and different complicated methods. When hyperscalers broaden capability, it might probably 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 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 steerage. For the complete 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 boldness 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 hold spending on AI infrastructure. It additionally stored its adjusted working margin goal at 7.8%, which provides traders a easy scorecard because the 12 months 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 arduous.
Backside line
So, may these development shares be buys for Canadians who need development in 2026? It is determined by what you possibly can abdomen. Shopify presents a protracted runway and powerful money era, nevertheless it carries a premium a number of and can hold going through “present me” moments round margins. Celestica presents a direct line to AI infrastructure spend and has raised steerage, nevertheless it lives in a cycle-heavy world the place sentiment can flip shortly. If you’d like supercharged upside, each can match, however provided that you settle for that the journey can get bumpy quick.
