Tax season has come to a close, and some taxpayers may be receiving their refunds. Even if it’s just $1,000, as long as your tax return was filed correctly, this money can be used to start investing. Investors should look for companies with clear growth momentum, strong earnings guidance, and the potential to deliver positive surprises in their next financial reports. While AI companies cannot file your taxes for you, that doesn’t mean there aren’t opportunities among top Canadian companies on the Toronto Stock Exchange (TSX).
If you have $1,000 to invest right now, Calian looks particularly pragmatic. The company operates across defense, aerospace, healthcare, and IT services, making it more balanced than many smaller Canadian tech firms. Over the past year, government and institutional spending on mission-critical services has remained stable, and Calian has aligned with this demand while adjusting weaker segments of its portfolio.
In fiscal 2025, the company’s revenue grew 4% to CA$774.1 million, but adjusted EBITDA fell 15% to CA$78.4 million, as some business segments lagged. More recent data is more optimistic: In the first quarter of fiscal 2026, revenue increased 12% to CA$208 million, adjusted EBITDA rose 28% to CA$22.8 million, and adjusted diluted earnings per share jumped 46% to CA$1.03.
Currently, Calian has a market cap of approximately CA$802 million, with a trailing P/E ratio of 30.55 and a forward P/E ratio of 16.05. This suggests the stock isn’t cheap based on historical performance, but valuations would look more reasonable if earnings continue to improve. The company has solid operational capabilities in defense and aerospace, along with remaining upside. Additionally, it offers a 1.6% dividend yield as extra return.
Kraken Robotics represents a bolder choice, which is precisely why a $1,000 position could make sense here. The company manufactures underwater batteries, sonar systems, and marine robots for defense and marine engineering. Over the past year, as demand has remained strong, the company has expanded through the acquisition of 3D at Depth and amplified growth expectations via the planned acquisition of Covelya. This is not a run-of-the-mill industrial growth story, but a company striving to become a larger underwater technology platform.
For investors with a $1,000 tax refund in hand and considering TSX-listed stocks, Calian offers a stable, diversified business mix with improving earnings momentum, supplemented by dividend income. Kraken Robotics, on the other hand, presents a higher-risk, high-potential growth story in underwater technology. Both align with the stock-picking approach of seeking companies with clear momentum and earnings guidance, and both are worth monitoring closely for validation in their next quarterly reports.
