Looking to boost your retirement portfolio with top Canadian performers? Three standout TSX stocks have caught investors’ attention for their impressive track records and promising growth trajectories in 2025: an e-commerce giant, a leading cargo airline, and an energy powerhouse. Let’s explore why these most promising Canadian stocks deserve a spot on your watchlist.
Canadian Natural Resources (CNQ) stock: Energy giant with sustainable growth
Canadian Natural Resources (TSX:CNQ) continues to demonstrate why it’s a cornerstone of Canada’s energy sector. With the second-largest reserves among global energy companies and operations spanning from North America to the North Sea and offshore Africa, CNQ stands resilient against market fluctuations and tariff threats. The company’s extensive low-risk, low-decline crude oil reserves provide steady cash flow generation for the next 33 years, which is particularly valuable in today’s strong oil price environment.
For 2025, CNQ targets an ambitious 12% to 16% increase in production per share from 2024 levels, building on its impressive 9% compound annual growth rate since 2021. The company’s commitment to shareholder returns remains strong, with a policy to return 100% of excess cash flow to investors once net debt reaches $12 billion. After two dividend increases in 2024 totalling 13%, CNQ maintains its 25-year streak of consecutive dividend raises, currently yielding 4.9%.
With oil prices staying above US$70, investors can anticipate another record dividend this year as well as steady capital gains.
Shopify (SHOP) stock: E-commerce leader breaking new ground
Shopify’s (TSX:SHOP) remarkable performance continues to impress, with its stock price surging nearly 100% over the past three years and gaining 7.5% already in 2025. The e-commerce platform provider recently reported outstanding results, including a 25.8% increase in total revenue and a 50% year-over-year surge in gross merchandise volume. The company’s transformation from a $1.4 billion operating loss in 2023 to a $1.1 billion profit in 2024 showcases its successful path to profitability.
Seven consecutive quarters of 25%-plus revenue growth highlight Shopify’s momentum, while low international market penetration suggests significant room for expansion. The company’s investment in artificial intelligence, including Shopify Magic, positions it well for continued margin enhancement and market leadership in the e-commerce and payments space in 2025 and beyond.
Cargojet (CJT): Flying high on strategic advantages
Cargojet (TSX:CJT) has reached new heights, crossing the $1 billion revenue mark with a 14.1% year-over-year increase. The air cargo carrier’s impressive performance includes tripled earnings per share, from $2.06 in 2023 to $6.68 in 2024, while free cash flow nearly tripled to $183.7 million.
Despite global trade uncertainties amplified by new tariff regimes, Cargojet’s limited exposure to U.S. tariffs and strategic positioning in Canadian channels present unique opportunities for growth.
The company’s expansion plans include adding four new aircraft to its fleet in 2025 while growing relationships with major players like DHL and meeting increased demand for direct cargo flights between China and South America to support its growth trajectory. Trading at a forward price-to-earnings (P/E) multiple of 18 and a P/E-to-growth (PEG) ratio of 0.1, Cargojet stock appears undervalued, given its earnings growth potential. The company’s share-repurchase program and 1.3% dividend yield further enhance shareholder value in 2025.
Investor takeaway
Canadian Natural Resources stock, Shopify stock, and Cargojet stock are top Canadian stocks that offer diverse exposure across energy, e-commerce, and transportation sectors, each with compelling growth catalysts for 2025. Their strong financial performance, market leadership, and strategic positioning make them worthy considerations for investors seeking long-term growth opportunities in the Canadian stock market.
