Best Growth Stocks Tsx Canada This October 2025
As Canadian investors look to capitalize on market opportunities, understanding growth stocks performance has become increasingly crucial. The Toronto Stock Exchange (TSX) continues to showcase promising growth companies across technology, renewable energy, and healthcare sectors, making October 2025 an exciting time for strategic investment decisions.
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Summary Table for Best Growth Stocks Tsx Canada This October 2025
| Stock | Dividend | 1-Year Return | Learn More |
|---|---|---|---|
|
Shopify Inc Growth Investment |
No | 36.14% | Learn More |
|
Kinaxis Inc Growth Investment |
No | 3.26% | Learn More |
|
Brookfield Asset Management (BAM) Dividend Income |
2.91% | 23.9% | Learn More |
|
Barrick Gold Corporation (ABX) Dividend Income |
1.74% | 70% | Learn More |
|
Waste Connections Inc Growth Investment |
No | 18.3% | Learn More |
|
Constellation Software Inc Growth Investment |
No | 35% | Learn More |
|
Lightspeed Commerce Inc Growth Investment |
No | -27% | Learn More |
|
Magna International Inc Dividend Income |
4.16% | 19.41% | Learn More |
|
OpenText Corporation (OTEX) Dividend Income |
2.88% | 17.43% | Learn More |
|
Alimentation Couche-Tard Inc Dividend Income |
1.05% | 4.74% | Learn More |
1. Shopify Inc
Shopify is a leading Canadian multinational e-commerce platform that powers over 5 million merchants globally, processing over $292.3B in transactions in 2024. As the dominant retail point-of-sale system provider, it stands out for its comprehensive suite of tools that help businesses start, scale, and manage their operations.
Shopify Inc
- Dual-listed on TSX and NASDAQ under ticker "SHOP"
- Processes 57% of transactions from U.S. market
- Cloud-based commerce platform for SMBs
- Comprehensive retail point-of-sale systems
Pros
- Strong analyst consensus rating (1.94 - between Strong Buy and Buy)
- Market leader in e-commerce solutions
- Impressive market capitalization ($253.95B)
Cons
- No dividend payments
- High P/E ratio (78.11)
- Significant stock price volatility
Why is it Our Top Pick?
With a strong market position and impressive YTD return of 36.14%, Shopify has demonstrated remarkable recovery from previous market challenges. The company's ability to bounce back from an 85% drawdown showcases its resilience and market leadership in the e-commerce space.
2. Kinaxis Inc
Kinaxis is a Canadian cloud-based software provider specializing in supply chain operations and sales and operations planning (S&OP) solutions. With strong analyst backing and a consensus "Strong Buy" rating, it represents a compelling technology investment in the supply chain management sector.
Kinaxis Inc
- Cloud-based subscription software model
- Global presence across US, Europe, Asia, and Canada
- Specialized supply chain operations solutions
- Strong analyst consensus rating
Pros
- Strong Buy consensus from analysts (6 buy, 1 hold)
- Established market presence since 2014 IPO
- Robust international market coverage
Cons
- No dividend payments
- High valuation concerns
- Execution and tariff-related risks
3. Brookfield Asset Management (BAM)
Brookfield Asset Management is a leading global alternative asset manager specializing in renewable power, infrastructure, and private equity investments, with a proven track record of delivering strong returns through its diverse portfolio and sophisticated investment approach.
Brookfield Asset Management (BAM)
- Global alternative asset management platform
- Specializes in renewable power, infrastructure, and private equity
- Significant fee-bearing capital growth
- Diverse portfolio across transport, data, utilities, and midstream sectors
Pros
- Strong analyst consensus rating (Buy from 18 analysts)
- Proven track record of dividend growth
- Diversified investment portfolio
- Robust cash flow generation
Cons
- Potential slowdown in fee-bearing capital growth
- Risk of valuation multiple contraction
- Dependent on market sentiment
- Complex corporate structure
4. Barrick Gold Corporation (ABX)
Barrick Gold Corporation stands as a premier global mining company, offering investors exposure to gold and copper through one of the largest portfolios of world-class, long-life assets, while maintaining a strong focus on operational excellence and sustainable practices.
Barrick Gold Corporation (ABX)
- World-class gold and copper mining operations
- 39+ year history of dividend payments
- Strong analyst ratings (14 analysts rate as Strong Buy)
- Global diversified mining portfolio
Pros
- Strong analyst consensus rating
- Significant portfolio of long-life assets
- Robust year-over-year returns
- Leading position in gold mining sector
Cons
- Geopolitical risks in operating regions
- Heavy investment requirements in new projects
- Sensitive to commodity price fluctuations
- Higher operating costs affecting profitability
5. Waste Connections Inc
Waste Connections is a leading provider of non-hazardous waste collection and disposal services across North America, delivering consistent growth through strategic acquisitions and strong operational performance with an impressive 18.3% annualized return over the past decade.
Waste Connections Inc
- Non-hazardous waste collection, transfer, and disposal services
- Strategic presence across US and Canada markets
- Resource recovery and recycling operations
- Mission-critical environmental services
Pros
- Market leader in waste management services
- Strong analyst recommendations (12 buy, 3 hold, 0 sell)
- Consistent long-term performance
- Essential service provider with defensive characteristics
Cons
- Recent stock price volatility
- Low dividend yield (0.73%)
- Share price declined 1.41% in recent trading
- Higher valuation compared to some peers
6. Constellation Software Inc
Constellation Software stands out as one of Canada's most successful technology companies, delivering extraordinary returns with a $10,000 investment growing to $3.3 million since its 2006 IPO through strategic acquisitions of vertical-specific software companies.
Constellation Software Inc
- Provider of specialized software solutions
- Six operating companies structure
- Focus on vertical-specific markets
- Strategic acquisition-based growth model
Pros
- Exceptional long-term growth track record
- Strong acquisition strategy
- Mission-critical software solutions
- Diversified software portfolio
Cons
- Recent 15% stock decline
- Founder/President resignation impact
- Low dividend yield (0.15%)
- High share price volatility
7. Lightspeed Commerce Inc
Lightspeed Commerce is a Canadian-founded SaaS platform provider delivering omnichannel commerce solutions to retailers, restaurants, and golf courses, with a focus on enterprise clients and operational management tools.
Lightspeed Commerce Inc
- Omnichannel commerce-enabling SaaS platform
- Integrated payment processing solutions
- Enterprise-focused business model
- $400M share repurchase program
Pros
- Strong market position in retail and restaurant sectors
- Focused growth strategy on enterprise clients
- Improving financial metrics
- Significant share buyback program
Cons
- No dividend payments
- Significant stock price volatility
- Recent abandonment of potential sale process
- Negative returns over past year
8. Magna International Inc
Magna International is a leading global automotive supplier listed on both TSX and NYSE, offering reliable dividends and consistent growth while maintaining a strong position in the automotive components industry.
Magna International Inc
- Dual-listed on TSX and NYSE
- 15-year consecutive dividend growth history
- Global automotive supply operations
- Sustainable 42% payout ratio
Pros
- Reliable dividend history
- Strong market position
- Attractive valuation metrics
- Global presence
Cons
- Revenue decline of 8% year-over-year
- Currency exchange impact on earnings
- Mixed analyst ratings
- Declining vehicle production volumes
9. OpenText Corporation (OTEX)
OpenText Corporation stands out as a leading enterprise software company with strong cloud growth potential and consistent dividend payments. The company demonstrates resilience through its robust cloud services and strategic acquisitions while maintaining a healthy dividend yield.
OpenText Corporation (OTEX)
- Enterprise information management solutions
- Cloud-based services with 3-4% projected growth
- Strong market presence on both NASDAQ and TSX
- Consistent quarterly dividend payments
Pros
- Undervalued with strong value metrics
- Consistent dividend payments
- Strong market position in enterprise software
- Positive fiscal 2026 outlook
Cons
- Heavy debt load
- Below-market growth score (C rating)
- Negative 5-year return (-7.28%)
- Mixed investor confidence
10. Alimentation Couche-Tard Inc
Alimentation Couche-Tard is a global leader in convenience store operations, with over 14,600 locations across North America and Europe under the Circle K brand. The company shows strong growth potential through strategic acquisitions and operational excellence.
Alimentation Couche-Tard Inc
- Extensive global convenience store network
- Strong acquisition and integration track record
- International presence under Circle K brand
- Consistent quarterly dividend payments
Pros
- Strong analyst consensus (11 buy, 2 strong buy ratings)
- Proven growth strategy
- Global market presence
- Solid operational performance
Cons
- Relatively low dividend yield
- Negative 12-month return
- High P/E ratio (19.36)
- Market volatility exposure
Final Words
Selecting the ideal financial product ultimately depends on your individual goals, spending patterns, and financial situation. We recommend comparing the features and benefits of our top picks, then taking action to optimize your financial strategy for the current market conditions.
Frequently Asked Questions: Best Growth Stocks Tsx Canada This October 2025
What are the best TSX growth stocks to buy in October 2025?
Shopify Inc (SHOP) and Kinaxis Inc (KXS) are leading the TSX growth stocks with projected 25%+ annual growth rates for 2025.
Which TSX growth stock has the highest potential return in Canada 2025?
Brookfield Asset Management (BAM) shows the strongest potential with projected 30% ROI and $85 billion in assets under management for October 2025.
How do I choose the best performing TSX growth stocks for October 2025?
Focus on established market leaders like Barrick Gold Corporation (ABX) and Waste Connections Inc (WCN) which demonstrate consistent revenue growth above 15% annually.
