Fast growing Canadian tech stocks

Canadian tech revival

Three of the fastest growing Canadian tech stocks.


There’s much more to Canadian technology than BlackBerry. Several other domestic innovators are quietly raking in the cash, says Agilith Capital portfolio manager Patrick Horan. The S&P/TSX Capped Info Tech Index is up 31% for the last 12 months—far better than the overall market. Consider these three quickly growing cash cows. Fast growing Canadian tech stocks:

TOP PICK! SiriusXM Canada (TSX: XSR)

This Toronto satellite radio company­—which is not a subsidiary or even part of the U.S. SiriusXM—has an attractive 4.5% dividend that expanded by 20% in 2013, says Horan.

8.5: 2015 EV/EBITDA earnings

Mitel Networks (TSX: MNW)

This Ottawa-based global telecommunications firm, originally founded by Michael Cowpland and Terry Matthews, works with large corporations and recently merged with Europe’s Aastra.

6.8: 2015 EV/EBITDA earnings

CGI Group (TSX: GIB.A)

Despite a few bumpy months, this busy Montreal IT firm is generating tons of cash and buying back shares for the first time in a year. Horan expects shares to rise from $35 to $40.

6.7: 2015 EV/EBITDA earnings

EV/EBITDA is a ratio used to evaluate the value of a company (enterprise value) by taking debt into account. A low ratio indicates that a company might be undervalued