Where I’d Invest My Savings in the TSX Today

There’s never a perfect time to invest. But waiting for everything to feel certain often means missing out on great opportunities. Right now, the TSX is full of quietly strong performers, companies that aren’t necessarily making headlines every day but are building real momentum. If I had to put my savings to work on the TSX today, I’d go with a trio of very different but very promising stocks. Those are Shopify (TSX:SHOP), North American Construction Group (TSX:NOA), and Headwater Exploration (TSX:HWX). And all three have recent results to back up their potential.

Shopify

Shopify might not feel like a hidden gem. It’s one of Canada’s most recognizable tech names. But what often gets missed is how much Shopify has matured. It’s not just about helping small businesses set up an online store anymore. It’s grown into a full e-commerce ecosystem, serving major global brands and building tools that handle everything from payments to logistics to marketing, all while layering in artificial intelligence (AI).

In the fourth quarter of 2024, Shopify posted revenue of $2.81 billion, up 31% from the year before. Adjusted earnings per share (EPS) came in at $0.44, well ahead of analyst expectations. What’s striking is how Shopify is balancing growth with improving profitability. Gross margins ticked up, and the company reaffirmed its focus on disciplined spending while still investing in AI products like Shopify Magic. It’s also expanding internationally, particularly in Europe, where e-commerce adoption still has room to grow. Despite past volatility, Shopify is proving it’s more than a pandemic-era success story; it’s built for long-term global growth on the TSX today.

NOA

If Shopify is a bet on the future of commerce, North American Construction Group is a bet on something more concrete, literally. Based in Alberta, NOA is a heavy civil construction company that specializes in mining support services. It’s been around for decades but has really come into its own in recent years, riding a wave of infrastructure projects and natural resource development.

In 2024, NOA reported revenue of $1.1 billion, a 15% increase over 2023. Net income also jumped, supported by high equipment utilization and smart cost control. What makes NOA attractive right now is that it’s not dependent on any one project or commodity. It works across oil sands, mine development, and site services, giving it revenue diversity and protection against downturns in any single sector. The company continues to grow its fleet, renew long-term contracts, and maintain a strong safety record. It also pays a dividend, which is a nice bonus in a growth-oriented pick on the TSX today.

Headwater

Then there’s Headwater Exploration, a small but fast-growing oil and gas producer focused in Western Canada. HWX is one of those companies that has quietly outperformed thanks to smart execution and capital discipline. It isn’t chasing aggressive production growth at all costs. Instead, it’s focused on maintaining low debt, generating free cash flow, and delivering strong returns on invested capital.

In 2024, Headwater brought in $300 million in revenue, up 25% from the previous year. Net income rose to $60 million, thanks in part to higher commodity prices and efficient operations. Its core asset, the Marten Hills Clearwater play, continues to exceed expectations. Headwater has also been reinvesting carefully in its development program, funding new wells without overextending itself financially. Its balance sheet is one of the cleanest in the sector, with no long-term debt and a growing cash position. For investors who want exposure to energy without taking on big risk, HWX offers a strong mix of stability and upside.

Bottom line

What I like most about this mix of stocks is that they each play a different role in the TSX today. Shopify brings long-term innovation and exposure to the global digital economy. North American Construction adds infrastructure and hard assets with the bonus of a dividend. Headwater taps into energy markets with disciplined management and high-quality assets. All three reported strong 2024 results and are starting 2025 with solid momentum.

Putting my savings into these names wouldn’t be about chasing quick gains. It would be about owning companies that are executing well, managing their capital wisely, and building real value over time. And in a market where headlines can change quickly, that’s the kind of foundation I’d want to count on.

The post Where I’d Invest My Savings in the TSX Today 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 has positions in and recommends Shopify. The Motley Fool has a disclosure policy.

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