3 TSX Stocks With the Potential to Turn $100,000 Into $1 Million Sooner Than You'd Expect

3 TSX Stocks With the Potential to Turn $100,000 Into $1 Million Sooner Than You’d Expect

These three TSX stocks could help turn a six-figure investment into something much bigger.

Jitendra Parashar

Author Bio Jitendra Parashar is a financial journalist who has been writing for The Motley Fool Canada since June 2020. With more than 13 years of experience in financial journalism, equity research, and market analysis, he helps investors understand market developments and identify long-term investment opportunities. Before joining The Motley Fool Canada, Jitendra spent several years at Market Realist covering U.S. equities, major economic developments, and developments in the automotive and technology industries. He also worked in commodity and currency research at brokerage firms, gaining insight into how economic trends, central bank decisions, and geopolitical events influence financial markets. Jitendra writes for beginner investors, dividend seekers, and Canadians looking to build wealth over the long term. He also contributes to the daily TSX Today series, explaining key Canadian market developments and highlighting news investors should watch. Based in India, Jitendra follows Canadian and U.S. markets closely. Outside of work, he enjoys travelling in the Himalayas, street and nature photography, and exploring programming and artificial intelligence. Education MBA in Finance and International Business Bachelor's degree in Journalism Areas of Expertise Canadian and U.S. financial markets, long-term equity investing, dividend investing, macroeconomic and geopolitical trends, automotive stocks, emerging technologies, and artificial intelligence. Social Media Profiles LinkedIn Muck Rack Favorite Investment Quote “Simplicity is the master key to financial success.” — John C. Bogle

Published April 27, 8:30 pm EDT

Big wealth in the stock market mainly comes from investing in high-growth companies with the potential to deliver outsized returns over time. While turning $100,000 into $1 million may sound too ambitious, it becomes far more achievable when you invest in companies with strong momentum, expanding opportunities, and clear long-term strategies.

In this article, I’ll highlight three TSX stocks that could help you get there faster than you might expect.

dividends grow over time — Source: Getty Images

MDA Space stock

One company that continues to stand out in the innovation space is MDA Space (TSX: MDA), a key player in satellite communications and space infrastructure, which is benefiting from rising global demand for space-based technologies.

The company’s latest financial results highlight just how strong its growth has been. In the fourth quarter of 2025, MDA reported revenue of $499 million, up 44% year-over-year (YoY). For the full year, its revenue surged 51% to $1.6 billion. On the profitability side, its adjusted EBITDA (earnings before interest, taxes, depreciation, and amortization) reached $96 million in the quarter and $324 million for the year, showing improving operational performance despite some margin pressure.

What really strengthens the investment appeal is its backlog and future pipeline. MDA ended 2025 with a backlog of $4 billion and a massive $40 billion pipeline, including $10 billion tied to government and repeat contracts. On top of that, the company is investing in advanced technologies and expanding its capabilities through strategic partnerships and contracts.

With increasing demand for defence and satellite solutions, MDA stock appears well-positioned for strong growth.

BlackBerry stock

BlackBerry (TSX: BB) has gone through a major transformation over the years, and that transition is now starting to show results. BB stock currently trades at $6.92 per share with a market cap of $4.1 billion, and it has climbed 48% over the last year.

In the fourth quarter of fiscal 2026 (ended in February), BlackBerry posted revenue of US$156 million, up 10% YoY. For the full year, revenue reached US$549.1 million, with adjusted EBITDA rising sharply by 71% to US$36.1 million.

A major growth driver for BlackBerry is its QNX segment, which delivered record quarterly revenue of US$78.7 million, up 20% YoY. Notably, its QNX segment focuses on software for critical systems, including automotive and industrial applications.

The company is also expanding partnerships with major players like Mercedes-Benz and BMW, while collaborating with NVIDIA to advance artificial intelligence (AI) solutions. These initiatives could play a key role in accelerating its rally in the years to come.

NexGen Energy stock

NexGen Energy (TSX: NXE) offers exposure to the fast-growing demand for clean energy. NXE stock currently trades at $16.94 per share with a market cap of $10.3 billion, and it has surged 140% over the past year.

At the heart of its potential is the Rook I Project, which includes the high-grade Arrow Deposit. According to its feasibility study, the project holds measured resources of 209.6 million pounds of U3O8, along with additional indicated and inferred resources.

As countries increasingly turn to nuclear energy for reliable and low-carbon power, companies like NexGen could see strong long-term demand — which could drive its share prices higher.

Foolish takeaway

Turning a small investment into a sizable portfolio takes patience, discipline, and smart stock picks, but companies in high-growth industries with strong execution could offer the best chances. MDA Space, BlackBerry, and NexGen Energy each bring unique strengths, from cutting-edge technology to energy transition exposure. While no investment is guaranteed, these TSX stocks offer solid growth potential that could significantly compound wealth over time.