Stocks can help build significant wealth over time, especially when you focus on fundamentally strong companies with solid growth potential. For instance, several TSX stocks have delivered stellar returns over the years, thanks to strong financial performance, reliable business models, and the ability to adapt to changing market conditions.
Against this background, here are my top TSX stocks worth considering right now. These companies offer promising growth opportunities and strong fundamentals that could deliver attractive returns over the medium to long term.
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Top TSX stock #1: Waste Connections
Waste Connections (TSX: WCN) is one of my top TSX stocks to buy right now, supported by resilient waste management operations, pricing power, and a focus on enhancing shareholder value. The company provides integrated non-hazardous waste collection, transportation, disposal, and recycling services, alongside renewable fuel production.
Its latest quarterly performance highlights improving operating momentum. Organic growth benefited from core pricing increases of 5.5% and fuel and material surcharges of 1.3%. Meanwhile, volume declines moderated to 1.2%, reflecting stronger landfill activity, with special waste volumes rising 7% year-over-year and construction and demolition waste increasing 5%.
The company is also benefiting from stronger exploration and production waste revenue, which grew 6% sequentially. Recycled commodity prices have recovered, while recently launched renewable natural gas facilities are contributing to additional growth.
Another positive is its acquisition strategy. Waste Connections has completed acquisitions representing $130 million in annualized revenue so far this year. With more than $1 billion in available liquidity and manageable leverage of around 2.8 times adjusted EBITDA, it remains well-positioned to pursue further acquisitions.
Shareholder returns are equally encouraging. WCN recently raised its quarterly dividend by 10% and has repurchased more than $1 billion worth of shares year-to-date. Overall, its pricing power, improving volumes, disciplined expansion, and consistent capital returns make Waste Connections a solid long-term investment.
Top TSX stock #2: CES Energy
CES Energy (TSX: CEU) is one of the top TSX stocks to buy now, with solid growth prospects. It provides specialized chemical solutions that help oil and gas producers improve well performance, increase efficiency, and protect essential infrastructure. Importantly, its revenue is supported by both drilling activity and higher ongoing production requirements, providing a more diversified source of demand.
CES Energy also benefits from its strong presence in both Canada and the U.S., with an integrated operating model and flexible supply chain that help manage cost pressures and tariff-related risks. Higher chemical demand, new customer additions, market share gains, and strategic acquisitions have driven its recent growth.
Supporting its investment case is an asset-light business model that supports healthy cash flow and a solid balance sheet. This gives the company room to invest in growth and return cash to shareholders.
Looking ahead, stronger upstream activity, rising production intensity, and growing demand for advanced chemical solutions are likely to drive its financials and share price.
Top TSX stock #3: MDA Space
MDA Space (TSX: MDA) is another top stock to buy now. Shares of this leading space technology company have pulled back, providing a solid buying opportunity. The company is strategically positioned to capitalize on the expanding global space industry, supported by growing demand for satellite infrastructure, connectivity, and space-based intelligence.
MDA Space’s diversified operations across Satellite Systems, Robotics & Space Operations, and Geointelligence provide exposure to multiple growth markets. Rising government and defence budgets, alongside increasing commercial adoption of satellite services, could further strengthen its long-term prospects.
MDA Space is well-positioned to benefit from an estimated $40 billion opportunity pipeline. Moreover, its acquisitions of CLS and Blue Canyon Technologies expand its technological capabilities and market reach. Furthermore, its approximately $3.9 billion backlog at the end of the third quarter provides meaningful revenue visibility. Overall, MDA Space is well-positioned to deliver significant growth.
