Canada’s biggest investment story over the next few years may not come from artificial intelligence or the next consumer trend. It could come from something much more familiar: building things. Expanding rail networks, upgrading ports, modernizing energy infrastructure, and improving transportation corridors all require years of planning, billions of dollars in investment, and companies with the expertise to turn ambitious plans into reality. As governments and businesses invest in expanding the country’s trade corridors and critical infrastructure, TSX investors today have an opportunity to own the companies helping make it happen.
In this article, I’ll look at two top Canadian stocks that could be among the biggest beneficiaries of Canada’s nation-building push in 2026 and beyond.
Source: Getty Images
A railway built to move Canada’s economy
The first stock that sits at the centre of Canada’s nation-building push is Canadian National Railway (TSX:CNR) or CN. Its rail network connects ports, manufacturing hubs, agricultural regions, and energy producers across Canada and into the United States, making it a critical part of North America’s supply chain.
After climbing 19% over the last year, CN stock currently trades at $172.43 per share with a market cap of $106 billion. The company also rewards investors with quarterly dividends that currently yield about 2.1%.
In May, propane shipments from South Beamer, Alberta, to Watson Island, British Columbia, reached a monthly record, with carloads increasing 40% year over year (YoY). The railway also transported 3 million tonnes of grain during the month, highlighting the strength of its diversified freight business.
CN also entered 2026 on a solid footing, delivering record first-quarter revenue ton miles while generating $900 million in free cash flow, up 44% YoY. Continued improvements in network efficiency, employee productivity, and fuel efficiency highlight the company’s ability to handle rising freight demand while maintaining disciplined operations.
Going forward, CN’s Alberta Corridor Export Rail Terminal partnership with Keyera and AltaGas could further strengthen Canada’s energy export capabilities. As the country works to expand global trade opportunities, CN’s efficient transportation infrastructure should remain increasingly important, which should help its share price soar.
Engineering the country’s future
While railways move materials, major infrastructure projects can’t start without engineering expertise. That’s why I find WSP Global (TSX:WSP) attractive. This Montreal-based engineering and consulting firm works across transportation, buildings, environmental services, energy, and infrastructure projects around the world. As governments and businesses invest in new developments, WSP is likely to benefit from growing demand for technical planning and project execution.
WSP stock recently traded at $178.48 per share, giving the company a market cap of roughly $24 billion. Although the stock has declined over the past year, that weakness may present an attractive opportunity for long-term investors looking to own a high-quality engineering stock.
In the first quarter, WSP generated revenue of $4.6 billion while its net revenue rose 10.8% YoY to $3.7 billion. Similarly, its adjusted EBITDA (earnings before interest, taxes, depreciation, and amortization) climbed 16.5% from a year ago to $622.2 million, reflecting continued operational strength.
Interestingly, WSP’s backlog reached $19.7 billion at the end of the first quarter, reflecting 19% growth from the previous year. That expanding backlog provides excellent visibility into future revenue and demonstrates healthy demand across its project portfolio.
Its recently completed TRC acquisition further strengthens WSP’s capabilities in environmental consulting and energy transition projects, expanding its opportunities as infrastructure investment continues to accelerate.
