3 TSX Stocks Set to Drive Canada’s 2026 Nation-Building Efforts

By Amy Legate-Wolfe at The Motley Fool Canada

Canada’s 2026 nation-building push looks a lot more concrete than abstract this year. Ottawa is talking less about broad ambitions and more about roads, rail, ports, transit, water systems, housing-enabling infrastructure, and Arctic defence projects.

The federal government’s 2026–27 departmental plan points to investments in critical infrastructure to support housing and growth, while the high-speed rail project between Toronto and Québec City remains one of the biggest transportation bets Canada has seen in decades. Add in new Arctic radar spending and northern infrastructure funds, and you get a clear theme: Canada wants to build, connect, and secure at the same time. So, how do investors get on board?

ATRL

AtkinsRéalis (TSX:ATRL) sits right where big national projects begin: engineering, nuclear, and transportation design. Over the last year, it landed major work tied directly to Canada’s buildout, including the East Harbour Transit Hub in Toronto and its role in the consortium advancing the country’s high-speed rail project. It also deepened its nuclear footprint through the Pickering life-extension work, which matters in a country that needs more reliable power.

The numbers back that up. AtkinsRéalis reported 2025 services revenue of $10.8 billion, up 16.1%, while backlog hit a record $21.2 billion. Nuclear revenue jumped 54.6% for the year, showing where a lot of the momentum sits. In the fourth quarter alone, services revenue reached $2.9 billion, and adjusted net income from its core services business came to $3.36 per share for 2025. For investors who want exposure to transit, nuclear refurbishment, and big public works, it still looks built for the moment.

STN

Stantec (TSX:STN) is less about flashy mega-project headlines and more about the nuts and bolts that make communities function. This is a design and engineering firm with exposure to water, transportation, buildings, environmental services, and energy. That mix aligns well with a country trying to add housing, modernize utilities, and strengthen northern and defence infrastructure. Recent wins keep that case alive, including design work for Canada’s Arctic Over-the-Horizon Radar project and a place on Department of National Defence facility upgrades.

Its latest results were strong enough to make the story feel real, not theoretical. Stantec reported 2025 net revenue of $6.5 billion, up 10.7%, adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) of $1.1 billion, adjusted earnings per share (EPS) of $5.30, and a backlog of $8.6 billion, up 9.5%. Management also guided for 2026 adjusted EBITDA margin of 17.6% to 18.2%, which suggests it still sees healthy demand ahead. The business keeps compounding as well, winning long-duration work like the multibillion-pound Scottish Water program.

CPKC

Then there’s Canadian Pacific Kansas City (TSX:CP). Nation-building is not just about pouring concrete. It’s also about moving grain, autos, energy products, industrial inputs, and consumer goods across a giant country and into export markets. CPKC stock gives investors exposure to that backbone. Its single-line rail network across Canada, the United States, and Mexico makes it a strong pick for a period when Canada wants better trade corridors, more domestic investment, and more industrial development near transport hubs. The company’s new Site Ready locations across North America only add to that theme.

Financially, CPKC stock keeps doing what a top rail operator should do: grind out steady growth and improve efficiency. In 2025, revenue rose 4% to $15.1 billion, reported diluted EPS climbed to $4.51, and core adjusted diluted EPS reached $4.61. Its core adjusted operating ratio improved to a record 59.9%, and management is looking for low double-digit core adjusted EPS growth in 2026. Bottom line here is that railways control irreplaceable networks.

Bottom line

If Canada’s 2026 story really is about building more, connecting more, and securing more, these three stocks look well placed. AtkinsRéalis brings the engineering and nuclear muscle, Stantec brings the community and infrastructure know-how, and CPKC stock brings the transport network that helps everything else work. All three make a solid case for investors who want to own the companies helping Canada get the job done.

The post 3 TSX Stocks Set to Drive Canada’s 2026 Nation-Building Efforts appeared first on The Motley Fool Canada.

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Fool contributor Amy Legate-Wolfe has no position in any of the stocks mentioned. The Motley Fool recommends Canadian Pacific Kansas City and Stantec. The Motley Fool has a disclosure policy.

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