The loonie looks shaky again. That can sting at the grocery store, but it can also create a useful opening on the TSX. When the Canadian dollar weakens, companies with U.S.-dollar revenue or global sales can get a lift once those dollars come home. Exporters can also look more competitive. The catch, of course, comes down to quality, especially with smaller companies where one bad quarter can spook investors fast.
A weak currency won’t save a weak business. Investors still need real demand, decent pricing power, and costs that don’t climb faster than revenue. So let’s look at two top choices on the TSX today.
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CJT
Cargojet (TSX: CJT) looks relevant especially now as trade, e-commerce, and supply chains still need speed. The company runs Canada’s leading overnight air-cargo network and also provides charter and ACMI services, which means aircraft, crew, maintenance, and insurance. That gives it a domestic base business, while international customers and U.S.-dollar-linked contracts add some currency upside.
The recent picture showed pressure, not panic. Cargojet reported first-quarter adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) of $81.9 million, up 1.4% from a year earlier, with an adjusted EBITDA margin of 32.2%. That followed a strong fourth quarter, when domestic network revenue rose 16.9% and adjusted EBITDA hit $95 million. Revenue pressure still showed up, especially around softer ACMI demand and trade uncertainty, but the core network held up well.
That margin strength gives the stock its hook. Cargojet stock recently traded at 34 times earnings with a 1.9% yield. That’s not screaming cheap, especially for a business with aircraft costs, debt, and trade sensitivity. Yet investors also get hard-to-replace logistics assets and a network many customers can’t easily swap out. If export activity improves or Canadian air-cargo capacity looks more attractive in U.S.-dollar terms, Cargojet stock could regain momentum.
MATR
Mattr (TSX: MATR) brings a different story. The company changed its name from Shawcor in 2024. Today, Mattr serves critical infrastructure markets through Composite Technologies and Connection Technologies. Its products touch electrification, transportation, communication, water management, and energy infrastructure.
Canada and the U.S. both need more grid capacity, better water systems, stronger communications networks, and energy reliability. Mattr doesn’t depend only on Canadian consumers spending more. It sells into broader infrastructure markets, which could make its global revenue more valuable in Canadian-dollar terms when the loonie weakens.
The latest earnings looked mixed, but useful. In the first quarter of 2026, revenue reached $321.8 million, up just 0.5% year over year. Operating income, however, climbed 22.3% to $22.6 million. Adjusted EBITDA from continuing operations fell 14.9% to $39.6 million, while diluted earnings per share (EPS) came in at $0.12. So investors didn’t get a clean growth story, but did get signs of operating improvement.
The fuller picture looks stronger. In 2025, Mattr’s revenue jumped 43.3% to $1.3 billion, while adjusted EBITDA rose 43.1% to $154.8 million. The stock recently traded around 97 times earnings, so again not cheap. Though margins can swing and demand can vary by end market.
Bottom line
Together, Cargojet stock and Mattr offer two practical ways to watch a weaker loonie. Cargojet brings logistics exposure and margin discipline. Mattr brings infrastructure exposure and a clearer post-Shawcor identity. Neither stock deserves a free pass just because the currency moved, and both need steady execution in 2026. But if the Canadian dollar keeps sliding, both names give investors something better than a currency guess: real businesses with reasons to benefit right when the market may start paying attention again.
