Favourite Stocks for 2026
In Canada, there are plenty of tech stocks that are considered great investments for Canadian investors. Some have been around for the past decade and even longer, while others are fairly new. Here are the top stock picks for 2025.
Constellation Software Inc. (CSU)
Constellation Software is a Canadian tech company that is headquartered in Toronto and listed on the Toronto Stock Exchange. They’re a provider of software and services to certain public and private sector markets. Their software is designed to meet their customers’ needs. Here are the current stats for this stock.
| Previous Close | 2,742.79 |
| Volume | 63.09K |
| Market Cap | 58.12B |
| PE Ratio | 56.61 |
| Dividend Yield | 0.20% |
Shopify Inc. Class A Subordinate Voting Shares (SHOP)
Shopify is a Canadian e-commerce company headquartered in Ottawa, Ontario. It’s specifically an e-commerce platform for point-of-sale systems and online stores. It was founded in 2006 and has continued to grow every year since. It’s a popular stock choice due to its consistent revenue growth. Here are the current stock specifics.
| Previous Close | $103.00 |
| Volume | 10,563,550 |
| Market Cap | 133.658 B |
| PE Ratio | 100.98 |
| Forward Dividend and Yield | — |
Topicus.com Inc (TOI)
Topicus.com is a provider of vertical market software and platforms for both the public and private sectors. They’re known for acquiring various software companies and for addressing their customers’ specific needs with the software they acquire. They’re a bit newer, founded in 2020. Here are the specifics of their market shares.
| Previous Close | $96.40 |
| Volume | 85.54K |
| Market Cap | 8.03B |
| PE Ratio | 1,112.91 |
| Forward Dividend and Yield | — |
| Annual Dividend Yield | — |
Tucows Inc. (TC)
Like the other stocks mentioned, Tucows is headquartered in Toronto, Ontario. However, it’s an American-Canadian publicly traded company composed of three companies that offer high-demand connectivity: Tucows Domains, Ting Internet, and Wavelo. It was originally founded in 1993 as a shareware and freeware download site. Here are the stats of the shares.
| Previous Close | $20.61 |
| Volume | 2.05K |
| Market Cap | 167.46M |
| PE Ratio | – |
| Forward Dividend and Yield | – |
| Annual Dividend Yield | – |
Apple CDR (CAD Hedged) (AAPL)
Another top Canadian stock is Apple. While Apple is based in the US, it sells and repairs electronic devices worldwide. They create all sorts of electronic devices and have different software options. When it comes to Apple stocks, there are many options, but here are the stats for one of the Canadian stocks.
| Previous Close | $43.72 |
| Volume | 19,400 |
| Market Cap | 6.436T |
| PE Ratio | 45.07 |
| Forward Dividend Yield | 0.42% |
Celestica Inc. (CLS)
Celestica is a Canadian company that was founded in Toronto in 1994. While they also operate in the states, they specialize in hardware platforms and supply chain electronics. Here are the stats for their Canadian stock.
| Previous Close | $367.37 |
| Volume | 2.39M |
| Market Cap | 42.15B USD |
| PE Ratio | 44.43 |
| Distribution | – |
| Dividend Yield | – |
Telesat Corporation Common and Variable (TSAT)
The Telesat Corporation was founded in 2020 and is headquartered in Ottawa, Ontario. They’re a satellite telecommunications company that provides critical communications to telecom customers worldwide, including broadcasters, enterprises, and consultants. They also provide advanced teleport solutions and have a global satellite fleet. Here are the stats for their stock.
| Previous Close | $74.40 |
| Volume | 2,455 |
| Market Cap | 3.823B |
| PE Ratio | – |
| Distribution | – |
| Dividend Yield | – |
TECSYS Inc. (TCS)
As another Canadian company, TECSYS has been around since 1983 and is headquartered in Montreal, Canada. They’re a software company that primarily serves the healthcare industry; however, they also serve the retail and general wholesale distribution industries. They offer industry-leading supply chain management software. Here’s what the stock looks like.
| Previous Close | $37.41 |
| Volume | 16.96K |
| Market Cap | 539.99M CAD |
| PE Ratio | 92.81 |
| Distribution | – |
| Dividend Yield | 0.96% |
Nvidia CDR (CAD Hedged) (NVDA)
Nvidia Corporation is an American company founded in 1993. They’re a technology company that operates around the world and is known for advancing AI, gaming, creative design, robotics, and even safe driving technologies. Here are the stats for their CAD-hedged stocks.
| Previous Close | $49.29 |
| Volume | 1,600 |
| Market Cap | 7.404T |
| PE Ratio | 78.24 |
| Distribution | – |
| Dividend Yield | 0.03% |
Coveo Solutions Inc. Subordinate Voting Shares (CVO)
This company is based in Canada and has been in business since 2004. They’re a technology company that specializes in AI Search and generative experiences. They also provide e-commerce and enterprise search software for many different companies, including e-commerce and digital workplaces. Here are the stock stats.
| Previous Close | $4.98 |
| Volume | 2229 559 |
| Market Cap | 477.496M |
| PE Ratio | – |
| Distribution | – |
| Dividend Yield | – |
Canadian AI Stocks
When it comes to tech stocks, it’s also important to remember that there are many categories. One popular category is AI stocks, given the AI market’s growth potential. Here are just a few options for the best Canadian AI stocks.
Blackberry (BB)
While BlackBerry is known for its smartphone business, that division was discontinued in 2022. Now, Blackberry is known as a leader in secure communications due to growing business momentum. They also offer a range of services, including secure embedded software, communications security, critical event management, and unified endpoint management. Artificial intelligence is a major component of this and helps the company position itself for long-term growth. This is what their tech stock looks like.
| Previous Close | $7.91 |
| Volume | 24.01M |
| Market Cap | 4.65B USD |
| PE Ratio | 88.86 |
| Distribution | – |
| Dividend Yield | – |
CGI Group (GIB.A)
This Canadian company, headquartered in Quebec, was founded in 1976. They’re actually one of the largest IT and business consulting firms in the world. They’re also a software development company and have been on the stock exchange since 1986. Having this much stock history can help determine the likelihood of profit for this stock, as well as the total revenue from its AI-relevance platform.
| Previous Close | $94.08 |
| Volume | 797.07K |
| Market Cap | 19.89B CAD |
| PE Ratio | 12.29 |
| Distribution | – |
| Dividend Yield | 0.72% |
Docebo (DCBO)
Docebo is another software company that specializes in learning management systems. They’ve been around since 2005 and focus on automating to increase productivity and reduce manual tasks. They aren’t just available in Canada, either; they have offices all over the world. Their year of gains, as well as the company’s strong performance, are reasons they’re a popular choice. Here’s what their stock looks like.
| Previous Close | $17.40 |
| Volume | 198.35K |
| Market Cap | 625.73M CAD |
| PE Ratio | – |
| Distribution | – |
| Dividend Yield | – |
Kinaxis (KSX)
Kinaxis has been around since 1984 and is headquartered in Ottawa, Ontario. They’re a software company specializing in supply chain management and sales and operations planning. They’re known for powering some of the largest supply chains, including Those of enovo, P&G, Schneider Electric, and Ford. Here’s what their stock looks like.
| Previous Close | $146.64 |
| Volume | 109.12K |
| Market Cap | 4.01B CAD |
| PE Ratio | 36.07 |
| Distribution | – |
| Dividend Yield | – |
Open Text (OTEX)
This Canadian company was founded in 1991 and is headquartered in Waterloo, Ontario. They’re a software company that focuses on enterprise management software. Specifically, they offer cloud solutions, including cloud computing, business AI, and composable AI search. It provides companies with viable alternatives that are becoming more popular by the day. Here’s what the stock looks like in comparison to their net earnings.
| Previous Close | $23.47 |
| Volume | 2.39M |
| Market Cap | 5.69B USD |
| PE Ratio | 11.46 |
| Distribution | – |
| Dividend Yield | 4.69% |
Canadian Tech Dividend Stocks
When it comes to Canadian tech stocks, it’s also important to note that some pay dividends and others don’t. Here are some of the best Canadian tech stocks that offer dividends.
Evertz Technologies (ET)
Headquartered in Burlington, Ontario, Evertz Technologies is a global technology company. They’re the leading manufacturer of broadcasting systems and the parent company of numerous subsidiaries. They’re also one of the largest and most advanced broadcast technology manufacturers in the world. Here’s what their stock looks like.
| Previous Close | $16.41 |
| Volume | 23.63K |
| Market Cap | 1.22B CAD |
| PE Ratio | 20.01 |
| Distribution | Quarterly |
| Dividend Yield | 5.08% |
C Com Satellite Systems (CMI)
C Com Satellite Systems is headquartered in Ottawa, Ontario, and has been in business since 1997. They’re the leading manufacturer of mobile satellite antennas, which are needed for the global delivery of broadband internet services and data center hardware. They’re continually improving their product to stay relevant in the market. These are the current stats of their stock.
| Previous Close | $0.95 |
| Volume | 8.61K |
| Market Cap | 40.14M CAD |
| PE Ratio | – |
| Distribution | – |
| Dividend Yield | – |
Softchoice (SFTC)
Softchoice Corp. is headquartered in Toronto, Ontario, and has been around since 1989. It is a computer systems design services company that provides software-focused IT solutions to its customers. While the fact that this company has been around for so long doesn’t guarantee monster returns, the longer a company has been in business, the more security there is in investing in it. Here are the current stats for this stock.
| Previous Close | $24.49 |
| Volume | – |
| Market Cap | 1.48B |
| PE Ratio | 26.30 |
| Distribution | Quarterly |
| Dividend Yield | 2.12% |
Vecima Networks (VCM)
Vecima Networks is headquartered in Victoria, BC, and has been in business since 1988. They develop both hardware and software for broadband access, content delivery and telematics. They’ve also been named a global leader for 3 years in a row. Here’s what their stock looks like.
| Previous Close | $13.50 |
| Volume | 7.57K |
| Market Cap | 38.25M CAD |
| PE Ratio | – |
| Distribution | Quarterly |
| Dividend Yield | 1.63% |
JEMTEC (JTC)
JEMTEC is located in Vancouver, BC. They’re a leading provider of GPS and electronic monitoring solutions. They’ve been around for over 36 years and have had their monitors used on over 75,000 individuals throughout Canada and other countries. Federal government agencies use these to monitor offenders and to support bail and immigration release plans. This company primarily serves government users, which makes it another best-bet stock for investors. These are the stats for their stock.
| Previous Close | $1.10 |
| Volume | 297 |
| Market Cap | 3.07M CAD |
| PE Ratio | 15.69 |
| Distribution | – |
| Dividend Yield | – |
Undervalued Canadian Tech Stocks
Another sector to consider when looking into different tech stocks is undervalued stocks. Many of these stocks are outperforming expectations and can be a great way to diversify your portfolio. Here are some of the most undervalued stocks that are actually performing quite well. These include both large and small-cap stocks.
Coveo Solutions Inc. (CVO)
Like many of the other tech companies that we have mentioned, Coveo Solutions Inc is a Canadian software company. This company has been around since 2004, providing generative AI programs in Canada to enable different digital experiences. Their long-term growth positions Coveo as one of the top stocks. Their goal is to help companies grow to their potential.
| Previous Close | $4.99 |
| Volume | 142.15K |
| Market Cap | 464.15M CAD |
| PE Ratio | – |
| Distribution | – |
| Dividend Yield | – |
BCE Inc (BCE)
BCE Inc has actually been around in Canada for a long time. You may know them by their former name of Bell Canada Enterprises Inc. It’s actually a publicly traded holding company for Bell Canada. It’s currently Canada’s largest communications company and provides advanced broadband networks to people around the world. For this reason, it’s a popular choice for growth investors. While things can change in the third and fourth quarters, BCE is in a solid position for growth.
| Previous Close | $34.08 |
| Volume | 3.67M |
| Market Cap | 31.76B CA |
| PE Ratio | 5.05 |
| Distribution | Quarterly |
| Dividend Yield | 5.14% |
VIQ Solutions Inc
Headquartered in Mississauga, Ontario and founded in 2004, VIQ Solutions Inc is a technology and service platform. They specialize in digital evidence capture, retrieval and even content management. With over 26 years of experience, they’re one of the leaders in the tech world for innovation and business technology. These are the stats for this Canadian stock.
| Previous Close | $0.085 |
| Volume | 200 |
| Market Cap | 5.933M |
| PE Ratio | – |
| Distribution | – |
| Dividend Yield | – |
Payfare (PAY)
Headquartered in Toronto, it has been around since 2012. It markets itself as a no-cost payout solution that allows workers to choose how and when they want to be paid. It’s available in multiple industries, including trucking, trades, construction, rideshare, healthcare, home services, and hospitality. Here is what their stock looks like.
| Previous Close | $4.00 |
| Volume | 122,906 |
| Market Cap | 191.82M |
| PE Ratio | 13.79 |
| Distribution | – |
| Dividend Yield | – |
WELL Health Technology
WELL Health Technologies was founded in 2010 and is headquartered in Vancouver, BC. Not only are they a digital health technology company, but they are also the largest owner and operator of outpatient health clinics in Canada. They also provide EMR services to clinics throughout Canada. They aim to leverage technology to make a difference in healthcare. This is what their stock looks like.
| Previous Close | $4.25 |
| Volume | 839,268 |
| Market Cap | 1.085B |
| PE Ratio | 38.64 |
| Distribution | – |
| Dividend Yield | – |
Canadian Tech Stock ETFs
ETFs, also referred to as Exchange Traded Funds, are funds that hold a portfolio of stocks in an identified group. In this case, tech stock ETFs are funds that contain a variety of different tech stocks. The thing about ETFs is that they look like traditional stocks on the market because they have their own ticker symbol. Many are also part of the broader market. Here are a few good choices for tech ETFs in Canada.
BMO NASDAQ 100 Equity Hedged to CAD Index ETF (TSX: ZQQ)
The idea behind this particular ETF is to replicate the performance of the net expenses for NASDAQ-listed companies. What it does is hold and invest in the same securities as they are reflected in the index. Because this is a Canadian EFT, the US currency exposure is hedged to Canadian currency. Here are some stats for this ETF.
| Previous Close | $202.10 |
| Net Assets | 2.95B |
| Maximum Annual Management Fee | 0.35% |
| Management Expense Ratio | 0.39% |
| Distribution | Annually |
| Inception Date | January 19, 2010 |
TD Global Technology Leaders Index ETF (TSX: TEC).
This ETF seeks to track a global equity index. This measures the returns of global mid- and large-capitalization technology issuers. It currently tracks the Solactive Global Technology Leaders Index. The portfolio managers look to achieve this by investing and holding proportionate shares of the current index. It can hold cash, cash equivalents, and a variety of money market instruments to do so. The current specs of this ETF are:
| Previous Close | $60.63 |
| Volume | 108.84K |
| Average Market Cap ($MM) | 3150746 |
| Management Expense Ratio | 0.39% |
| Dividend Yield | 0.%47 |
| Risk Analysis | Medium to High |
iShares S&P/TSX Capped Information Technology Index ETF (TSX: XIT)
The purpose of this ETF is to seek long-term capital growth by replicating the S&P/TSX Capped Information Technology Index and its net expenses. This ETF has targeted exposure to Canadian information technology stocks and shows a view of this industry sector, not related to its net income. The key factors associated with this ETF are:
| Previous Close | $70.15 |
| Net Assets | 712.43 M |
| Management Fee | 0.55% |
| Management Expense Ratio | 0.60% |
| Distribution Frequency | Semi-Annually |
| Inception Date | March 19, 2001 |
Other Notable Stock Options
With so many great options for Canadian tech stocks, it’s impossible to mention them all. There are so many out there that are just as good as the ones we mentioned. Some of these include:
| Tech Company | Stock Price |
| Cisco CDR (CAD Hedged) | $29.97 |
| Dayforce Inc. | $95.35 |
| Advanced Micro Devices CDR (CAD Hedged) | $85.08 |
| Constellation Software Inc Unsecured Subordinated Floating Rate Debentures Series 1 | $119.91 |
| CGI Inc Class A Subordinate Voting Shares | $94.08 |
| Lightspeed Commerce Inc Subordinate Voting Shares | $12.29 |
| Descartes Systems Group | $101.05 |
Tech ETFs Vs Individual Tech Stocks
When you’re looking into tech ETFs or individual stocks, what you invest in depends on your risk tolerance. For those who prefer low-risk investments, ETFs are the better choice. They’re already diversified with a variety of different stocks. Individual tech stocks are riskier, and you’re putting all of your eggs in one basket.
How US Tech Stocks are Taxed for Canadians
When it comes to paying taxes on US stock gains, these are paid to the Canada Revenue Agency. How you invest will dictate how you pay taxes.
Capital Gains: Since the US doesn’t tax capital gains for Canadian residents on publicly traded stocks, any gains or losses you may have are declared on your Canadian income tax return. Your cost base and sale proceeds must be converted to CAD using the Bank of Canada exchange rate on the transaction dates. Your gains are taxed using the appropriate inclusion rate.
Dividends: If you receive dividends from a US corporation, all of your cash dividends are subject to US non-resident withholding taxes. Under the Canada-US tax treaty, the rate is reduced from 30% to 15%. You can claim the 15% as a foreign tax credit if the funds are in a taxable non-registered account.
Account Types: If you invest in a TFSA, this is not recognized as a retirement account by the IRS. This means that you can’t claim the foreign tax credit. However, an RRSP is accepted and exempt from the 15% withholding tax.
How to Research Canadian Tech Stocks Effectively
When researching tech stocks on the Canadian stock market, it’s important to consider both broad screening tools and fundamental analysis. The Canadian tech sector mainly focuses on enterprise software, IT services and niche solutions, so a combination of these two is necessary.
- The first thing that you want ot do is identify sector benchmarks. This can be done by looking at the top constituents on the S&P/TSX Capped Information Technology Index. This can show you the market leaders.
- After that, you’re going to look for specific financial metrics. You can use stock screeners to search for free cash flow, return on equity and revenue growth vs. profitability.
- You also want to review verified financial statements and cross-reference them with their quarterly and annual filings to detect any irregularities.
- You should also use technical analysis and consider investing in tech ETFs to broaden your exposure.
Canadian Fintech Stocks Gaining Momentum
In Canada, many tech companies are gaining traction and attracting inventors. Some of the things that are attracting these investors include:
- Market capitalization
- Earnings growth
- Price targets
- Recurring revenue
- Expansion and acquisitions
Some of these stocks include:
- Propel Holdings Inc.
- Shopify Inc.
- Lightspeed Commerce Inc. (Lightspeed Stock)
Quantum Computing Stocks Listed on the TSX
Currently, and over the past few years, there haven’t been any quantum computing stocks that are listed on the TSX. However, if you’re an investor seeking direct exposure to the Canadian quantum market, there’s Quantum eMotion Corp, which is listed on the TSX Venture Exchange.
Canadian Cybersecurity Stocks for Portfolio Diversity
Many software companies in Canada are listed on the TSX, but the majority of cybersecurity stocks are in ETFs. That said, you still have access to individual information, including their organic growth, business models, execution risk, data protection levels, and growth trajectory. That said, some of the most popular individual stocks include:
- Blackberry Limited (BB)
- OpenText Corporation (OTEX)
- Calian Group Ltd. (CGY)
Canadian Semiconductor and Chip Stocks
Here are a few of the most notable on the TSX.
5N Plus Inc: This company continues to be the global leader in the production of specialty semiconductors and performance materials for renewable energy, aerospace, and advanced electronics.
POET Technologies Inc: With a growing demand for design and microelectronics, this company is known for their operational excellence in combining electronic and photonic devices into a single chip.
Global X Artificial Intelligence Semiconductor Index ETF: This tracks the PHLX US AI Semiconductor Index.
iShare Semiconductor Index ETF: This ETF provides broad exposure to US-listed global chip and semiconductor equipment manufacturers.
Cloud Computing Stocks Available on the TSX
While the stock market can be extremely volatile, it’s important to pay close attention to the stocks you’re investing in. This includes paying attention to analyst estimates, operating leverage, network upgrades, global supply chains, share prices, and product lines. It’s also a good idea to check whether they operate on a subscription basis.
That said, some of the stocks available include:
- Evolve Cloud Computing Index Fund (DATA)
- First Trust Cloud Computing ETF
- Celestica Inc (CLS)
- Kinaxis Inc. (KXS)
- OpenText Corp (OTEX)
- Docebo Inc (DCBO)
Growth Vs. Value Canadian Tech Stocks
When it comes to Canadian tech stocks, there are differences between growth stocks and value stocks. Let’s take a look at those.
| Growth Stocks | Value Stocks |
| The focus is on rapid revenue scaling, total addressable market, and innovation. | The focus is on profitability, free cash flow, and competitive moats. |
| They have higher P/E and P/S ratios and are priced for future expectations. | They have lower multiples and are more resistant to economic cycles. |
| They are highly volatile. | These have much lower volatility rates. |
| Rarely have dividends. | Commonly offer dividends. |
