Dollarama (TSX:DOL) continues to stand out as one of the top-performing growth stocks on the TSX. Over the last five years, its share price has surged by an impressive 300%. Despite ongoing concerns around tariffs and broader economic uncertainty, the stock has climbed nearly 40% since the start of the year, demonstrating notable resilience.
The company recently released results for the first quarter of fiscal 2026, covering the period ending May 4. Quarterly sales reached $1.5 billion, representing an 8.2% increase from a year earlier. Same-store sales also delivered strong results, advancing by 4.9%. Net income came in at $273.8 million, marking a 26.9% rise year over year.
Dollarama’s growth trajectory remains solid, and the company is not short on expansion prospects. It continues to scale its presence in Canada and Mexico, while a potential acquisition of Australian discount retailer The Reject Shop could open new international markets. These initiatives signal the company’s ambition to grow well beyond its current footprint.
Following its recent earnings release, multiple analysts have boosted their target prices for the stock, with several projecting it could top $200. However, the average target remains around $186, suggesting the stock is already trading near consensus expectations. If strong performance persists, that benchmark could move higher as more analysts reassess their valuations.
Valuation-wise, Dollarama trades at a premium—over 40 times earnings—making it far from cheap. But given its brand strength and ongoing expansion potential, the stock remains attractive for long-term growth investors. Year to date, Dollarama shares are up close to 40%.