Canadian stocks look supercharged in 2026 when three things line up at once. The Canadian stock has its own internal momentum, the industry tailwind shows up in real orders and spending, and the balance sheet leaves room to invest or buy back shares without drama. You also want a story that makes sense even if the economy stays a bit wobbly, because the market rarely hands out perfect conditions on schedule. When a Canadian stock can grow through execution instead of hope, investors tend to re-rate it fast. So let’s look at two to consider on the TSX today.
Source: Getty Images
ATS
ATS (TSX: ATS) sells automation solutions and equipment that help companies build, test, package, and run production more efficiently. It plays in areas that keep humming even when the economy slows, like life sciences, food, and consumer packaging, and it also rides longer-cycle themes like electrification and re-shoring. Investors have treated it like a quality industrial for years, but the latest quarter gave the “surge” crowd fresh fuel.
Over the last year, ATS kept leaning into scale and focus while the market warmed back up to industrial growth names. In early February, its strong results helped spark a sharp one-day jump in the shares, and the Canadian stock pushed up toward its 52-week high in mid-February.
The earnings numbers show why the story has legs. In its third quarter of fiscal 2026, ATS grew revenue 16.7% year over year to $760.7 million. It delivered adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) of $105.2 million, and adjusted basic earnings per share (EPS) rose to $0.48 from $0.32 a year earlier. Even better, it kept its order engine steady, with bookings of $821 million and backlog of $2.1 billion, which gives 2026 a nice runway instead of a cliff.
BYD
Boyd Group Services (TSX: BYD) operates one of the largest collision repair networks in North America, with brands like Gerber Collision & Glass in the United States and Boyd Autobody & Glass and Assured Automotive in Canada. It earns money repairing vehicles, managing insurer relationships, and scaling a standardized operating model across more locations. That business sounds simple, but it gets powerful when margins expand and same-store sales turn positive again.
Over the last year, Boyd delivered a genuine “busy year” of corporate moves. It surpassed 1,000 locations, added 24 collision repair locations in Q3 2025, and then went bigger with a definitive agreement to buy Joe Hudson’s Collision Center for $1.3 billion, which would add 258 locations concentrated in the U.S. Southeast. It also listed shares on the NYSE and raised significant financing alongside that listing, which signals confidence and gives it more flexibility for 2026 execution.
The earnings picture improved, too, and it matters because Boyd’s valuation asks for proof. In Q3 2025, sales rose 5% to US$790.2 million, while same-store sales grew 2.4%. Adjusted EBITDA jumped 22.8% to US$98.4 million, lifting the margin to 12.4% from 10.7%. Boyd also reported net earnings of US$10.8 million, or US$0.51 per share, and adjusted net earnings of US$13.3 million, or US$0.62 per share, which shows real operating progress instead of just acquisition noise.
Foolish takeaway
Now the forward view and valuation, because that’s where “surge” stories often break. ATS looks set up for 2026 as its backlog supports revenue, and its customers keep investing in automation to solve labour shortages, quality control, and speed-to-market problems. Boyd’s valuation carries more sensitivity right now, as the market expects a step-up in profitability and scale benefits as Boyd integrates acquisitions and pushes its margin program.
If you want two Canadian stocks with a credible shot at a 2026 surge, ATS and Boyd bring different kinds of momentum. ATS offers backlog-driven industrial growth with improving profitability, which can compound quietly and then suddenly re-rate. Boyd offers scale, consolidation, and margin recovery in a business that does not depend on consumer mood the way retail does. Neither Canadian stock gives you a guarantee, but both give you something better: clear catalysts, measurable execution targets, and the kind of operating momentum that can make 2026 feel like a real step forward instead of another waiting room.
