Canadian space company MDA Space (TSX:MDA)(NYSE:MDA) is having a terrific year on the markets, with its share price rising by around 70% thus far in 2026. And that’s with the stock recently pulling back from its highs. As of Tuesday’s close, it was trading at just over $44 on the Toronto Stock Exchange. It’s down roughly 35% from its 52-week high of $67.90
The Ontario-based company makes and designs space systems, robotics, and satellite infrastructure. Back in August, the company reported its latest quarterly earnings numbers, with revenue growing by 34% to $499 million. It also reported a backlog of $4 billion, signifying strong demand for its products and services.
The company’s also been involved in acquisitions to boost its long-term growth opportunities, acquiring both Collecte Localisation Satellites and Blue Canyon Technologies. It makes for a promising growth investment, especially with the Canadian government looking to focus more on investing domestically, including looking at building its own space launch and satellite capabilities. MDA could be a huge benefactor of those opportunities.
At a market cap of $7 billion, MDA is also a fairly small company. It could have a lot of upside at its modest size. Currently, the stock is trading at around 56 times its trailing earnings, but on a forward-earnings basis, it’s at a multiple of 25. While its valuation is not dirt cheap, it can make for a compelling long-term growth investment, particularly for investors who are willing to be patient and buy and hold, as MDA may be in a prime position to benefit from the country’s focus on investing in domestic space projects and infrastructure.
