The Canadian equity market has delivered a strong performance over the past year, rising approximately 41.7% despite ongoing global trade tensions, geopolitical challenges, and broader economic uncertainty. Even with these risks still present, several Canadian growth stocks continue to stand out as compelling long-term investment opportunities.
Many of these TSX stocks are positioned to generate durable growth, supported by sustained demand for their products, technologies, and services, as well as solid execution.
Against this background, here are five growth stocks to buy and hold forever.
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Growth stock #1: Bird Construction
Bird Construction (TSX:BDT) is a compelling growth stock to buy and hold forever. The construction and maintenance company has strengthened its competitive position by diversifying revenue streams and focusing on projects with balanced risk, a strategy that has helped expand EBITDA margins and overall profitability.
Recent acquisitions, including Trinity Communication Services and Fraser River Pile & Dredge, have broadened its capabilities and expanded its target markets. Further, its multi-billion-dollar backlog provides a solid base for future growth.
With strong liquidity and exposure to major Canadian infrastructure, energy, defence, and maintenance projects, Bird appears well-positioned to deliver steady growth, which should support its share price.
Growth stock #2: Aritzia
Aritzia (TSX:ATZ) is a top TSX growth stock to buy and hold forever. The Canadian fashion retailer continues to benefit from strong demand for its exclusive brands, frequent new style launches, and an expanding retail and digital presence.
Over the past year, Aritzia has grown its boutique network by roughly 25% across Canada and the U.S., where it now operates 71 locations and sees potential for more than 150 stores.
Management plans to keep opening new boutiques while enhancing existing locations. Meanwhile, its e-commerce platform is gaining traction through ongoing digital investments. With projected revenue growth of 15–17% annually through fiscal 2027, Aritzia remains well-positioned to deliver solid long-term returns despite near-term cost pressures.
Growth stock #3: MDA Space
The global space economy is attracting significant investment as demand rises for Earth observation, defence capabilities, and satellite communications. With space becoming a strategic priority for both governments and private companies, firms in this sector are positioned for strong long-term returns.
MDA Space (TSX:MDA) is a notable player in the space ecosystem, operating across satellite systems, geointelligence, and advanced robotics. Strong demand has already driven a substantial rise in its stock price.
The space technology company is well placed to benefit from rising defence and space spending. With a $4 billion backlog and a $40 billion growth pipeline across government and commercial markets, MDA Space has strong revenue visibility. Supported by favourable industry trends and expanding opportunities, MDA Space appears well-positioned for sustained growth.
Growth stock #4: SECURE Waste Infrastructure
SECURE Waste Infrastructure (TSX:SES) is an attractive growth stock to buy and hold forever. Its portfolio of infrastructure-backed assets and production-linked volumes provides steady, recurring cash flows that help stabilize performance across market cycles.
Although tariff-related pressures have recently weighed on its metals recycling segment, the company’s core waste and infrastructure operations remain robust.
With a pipeline of long-duration infrastructure projects expected to boost adjusted EBITDA from 2026 onward, and potential recovery in metals recycling, the waste management and energy infrastructure business appears well-positioned to continue delivering solid long-term returns for investors.
Growth stock 5: CES Energy stock
CES Energy (TSX:CEU) is a compelling growth stock to buy and hold. It provides advanced consumable chemical solutions that help oil and gas producers boost output, improve efficiency, and protect upstream infrastructure.
Strong demand for its advanced chemicals has powered the stock higher. Despite the rally, CES Energy’s growth prospects remain solid as operators increase service activity and adopt higher-value chemical solutions. Strategic acquisitions have strengthened its capabilities and financial performance, while its asset-light model generates consistent free cash flow.
With a large U.S. revenue base and a vertically integrated North American platform, CES Energy remains relatively insulated from tariff risks and well-positioned for continued growth.
