Top Canadian Stocks to Buy for Growth in 2025

Are you looking to add some serious market-beating growth potential to your portfolio? If so, these two stocks should be on your watch list.

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After Canadian investors enjoyed another growth-filled year in 2024, things got off to a rocky start in 2025. But over the past two weeks, the S&P/TSX Composite Index has rebounded impressively well and is now up about 2% on the year. 

With the Canadian stock market up 20% over the past 12 months, there will be a pullback at some point. But if you’re investing for the long term, there’s no sense in patiently waiting for a dip on the sidelines. The TSX is full of top-quality stocks that you don’t need to think twice about when starting a position.

With that in mind, I’ve reviewed two top Canadian stocks that are both loaded with long-term growth potential. These two growth stocks have been outperforming the market’s returns for years, and I don’t see that changing anytime soon.

Shopify

It wasn’t all that long ago that Shopify (TSX:SHOP) was the largest company on the TSX. Back in late 2021, when the tech stock was last trading at all-time highs, there weren’t many hotter stocks on the TSX than Shopify. 

After a slight downfall in early 2020, similar to how many others fared, Shopify went on a massive run for the following year and a half. Unfortunately, shareholders shortly after had to pay the price for the sudden surge. 

Slowly but surely, Shopify has been clawing its way back to all-time highs. The stock is up a market-crushing 40% over the past year and is now down less than 30% from all-time highs. But even with the discount, shares are still up a whopping 150% over the past five years.

I wouldn’t bank on Shopify becoming a low-volatile investment in the near future. But as growth investors know, volatility is part of the game. 

Don’t miss your chance to load up on Shopify at a discount. At this rate, it won’t be trading below all-time highs for much longer.

Constellation Software

If Shopify is too volatile for your liking, Constellation Software (TSX:CSU) may be a better fit. The tech stock isn’t exactly cheap, at least from a stock price perspective, but you’re paying for a top-quality, market-beating company.

Shares are currently priced at more than $4,500 a share. That doesn’t necessarily mean it’s an expensive stock from a valuation perspective, but there’s no getting around the fact that you’ll need to pay up to be a shareholder.

The good news is that Constellation Software has a proven track record and doesn’t seem to be slowing down all that much — at least certainly not to the point of trailing the market’s returns.

Shares are up 25% over the past 12 months and a market-crushing 230% over the past five years.

Constellation Software is not a cheap stock but it’s well worth the price of admission.

Foolish bottom line

If you’re looking for market-beating returns, it will be hard to avoid volatility. It may be easier said than done, but the key is time and patience. Over the long term, the market-beating returns will make the volatility all worth it.

This article represents the opinion of the writer, who may disagree with the “official” recommendation position of a Motley Fool premium service or advisor. We’re Motley! Questioning an investing thesis — even one of our own — helps us all think critically about investing and make decisions that help us become smarter, happier, and richer, so we sometimes publish articles that may not be in line with recommendations, rankings or other content.

Fool contributor Nicholas Dobroruka has positions in Shopify. The Motley Fool has positions in and recommends Shopify. The Motley Fool recommends Constellation Software. The Motley Fool has a disclosure policy.

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