Every investor dreams of finding that perfect stock – the one that multiplies consistently over time and turns even a small investment into something life-changing. While the TSX has been delivering strong gains this year, spotting the next great stock isn’t easy. Some true winners often remain unnoticed until they explode higher.
For Foolish investors with patience, a well-placed $20,000 today can do far more than they might expect. With strong financials, durable business models, and the right growth drivers in place, some Canadian stocks have what it takes to multiply your investment many times over.
In this article, I’ll talk about two top growth stocks that I think could even turn a $20,000 investment into $200,000 over time.
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MDA Space stock
If you’re looking for solid long-term upside, MDA Space (TSX:MDA) could be one of the most attractive high-growth stocks on the TSX right now. This Toronto-based aerospace firm builds everything from communications satellites to robotic arms for space missions, and it has been riding a rocket of growth lately.
Shares of MDA Space have soared nearly 154% over the last year to currently trade at $29.96 per share, giving the company a market cap of $3.7 billion.
In the first quarter of 2025, MDA Space delivered another blockbuster performance with its revenues up 68% YoY (year-over-year) to $351 million, driven mainly by strong momentum in its satellite systems business. That included big contract wins like Globalstar’s next-gen low Earth orbit constellation. On the profitability side, the company’s net profit more than doubled from a year ago, highlighting how scalable its operations are becoming as demand ramps up.
MDA’s $4.8 billion backlog gives it strong revenue visibility. Meanwhile, the company plans to acquire SatixFy Communications, which could expand its satellite offering as demand for next-gen digital space communications surges.
With a strong balance sheet, over $376 million in cash, and clear growth drivers in place, this space tech stock could reward patient investors with outstanding returns over time.
Aritzia stock
Investors looking for solid growth potential in the long run may also want to take a look at Aritzia (TSX:ATZ). This Vancouver-based women’s fashion retailer is showing all the right signs of long-term strength. Shares of Aritzia have jumped over 73% in the past year and are currently trading at $66.56 per share, pushing its market cap to around $7.7 billion. The company doesn’t currently offer a dividend, but with numbers like these, growth is clearly the main story here.
In the fourth quarter of fiscal 2025 (ended in February), Aritzia’s revenue jumped 31% YoY to $895.1 million, while adjusted net profit climbed 156% YoY to $98 million. Notably, its U.S. business was a huge driver in the latest quarter, accounting for 61% of revenue. The company also expanded its e-commerce sales by 42% YoY and opened several flagship boutiques, including in Manhattan.
What’s helping Aritzia scale profitably is its tight control over costs and smart inventory management that’s boosting its margins. With plans for more store openings and digital upgrades, ATZ stock could be one stock worth holding onto for years for some eye-popping returns.
