2 Stocks That Could Turn $100,000 Into $1 Million

A $100,000 investment needs exceptional compounders, and these two stocks have the potential to continue growing.

Key Points
  • Long-term wealth building often starts with companies tied to durable industry trends.
  • 5N Plus (TSX:VNP) is benefiting from strong demand across specialty semiconductor and renewable energy markets.
  • Hammond Power Solutions (TSX:HPS.A) is growing quickly as electrification and data centre demand expand.

If you want to build a seven-figure portfolio in the long run, two of the most important decisions you’ll make are which companies you buy and how long you’re willing to hold them. Businesses with durable competitive advantages and exposure to long-term growth trends can create remarkable wealth when given enough time to compound.

Right now, two TSX-listed growth stocks stand out because they are already benefiting from powerful demand trends. One serves advanced technology markets tied to semiconductors, renewable energy, and space applications. The other enables electrification through essential power equipment used in data centres, infrastructure, and industrial projects. Let’s look at why these two TSX stocks could reward patient investors over the long run, and even potentially provide the returns needed to grow a $100,000 portfolio toward the million-dollar mark.

dividends grow over time

Source: Getty Images

5N Plus stock

The first stock to consider is 5N Plus (TSX: VNP), a Saint-Laurent-based producer of specialty semiconductors and performance materials. Its products serve several high-value markets, including terrestrial and space solar power, medical imaging, infrared imaging, optoelectronics, and advanced electronics.

After skyrocketing by 340% over the last year, VNP stock currently trades at $38.59 per share, giving the company a market cap of about $3.5 billion.

5N Plus posted solid revenue growth of 33% year-over-year (YoY) in the first quarter of 2026 to US$117.9 million. Similarly, its adjusted EBITDA (earnings before interest, taxes, depreciation, and amortization) jumped 41% YoY to US$29.2 million with the help of higher volumes in terrestrial renewable energy and stronger pricing for space solar power and bismuth-based products.

At the same time, the company’s adjusted gross margin expanded to 35.1% of sales from 34.2% a year ago. With a backlog of US$434.4 million, representing 336 days of annualized revenue, 5N Plus continues to maintain strong visibility into future demand.

If demand for specialty semiconductors and engineered materials keeps rising at this pace, VNP stock could continue to rally in the years to come.

Hammond Power Solutions stock

Another business with major momentum is Hammond Power Solutions (TSX: HPS.A). This Canadian manufacturer produces dry-type transformers, power quality products, and related magnetics used across electrical distribution networks.

Hammond’s products may not get much attention, but they are critical to the infrastructure behind electrification, renewable power, commercial buildings, and data centres. That makes the company a quiet beneficiary of some of the strongest long-term capital spending trends in the market.

After surging by 192% for the last 12 months, Hammond stock currently trades at $335 per share with a market cap of about $3.1 billion. The stock also offers a small dividend yield of about 0.3%, paid quarterly.

In the first quarter, Hammond’s sales surged by 31.5% YoY to $265 million. This growth was mainly driven by strong demand in the United States and Mexico, especially from custom product shipments and data centre activity. Its gross margin also improved to 30.1%, while the adjusted EBITDA margin came in strong at 15.5%.

Interestingly, the company’s backlog in the latest quarter rose 94.6% YoY, backed by large data centre projects. Its new Mexico factory also recently began shipping, adding capacity and helping Hammond improve lead times as demand continues to grow.

Could these stocks continue soaring?

Neither 5N Plus nor Hammond Power Solutions is cheap after such massive rallies. Still, strong earnings growth, large backlogs, and exposure to durable demand trends give both TSX stocks room to keep compounding.

For investors with a long-term approach, these two growth stocks could be among the most compelling opportunities on the TSX today.

Fool contributor Jitendra Parashar has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Hammond Power Solutions. The Motley Fool has a disclosure policy.

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