Canadian traders ought to determine high quality progress shares that commerce at an inexpensive valuation, enabling them to generate market-beating returns over time. On this article, I’ve shortlisted two such high Canadian shares to purchase and maintain in November 2025. Let’s see why.

Is that this TSX inventory undervalued?

Valued at a market cap of $21.6 billion, GFL Environmental (TSX:GFL) is a TSX inventory that has returned 170% to shareholders since its preliminary public providing in early 2020. Nonetheless, it is usually down 16% from all-time highs, permitting you to purchase the dip.

GFL Environmental gives non-hazardous strong waste administration and environmental providers in Canada and the USA. It provides providers equivalent to liquid waste administration, soil remediation providers, together with assortment, transportation, switch, recycling, and disposal providers for municipal, residential, business, and industrial prospects.

GFL Environmental delivered distinctive third-quarter (Q3) outcomes, reporting a file adjusted EBITDA (earnings earlier than curiosity, tax, depreciation, and amortization) margin of 31.6% regardless of difficult macro situations.

The Canadian waste administration large reported consolidated income progress of 9% 12 months over 12 months, pushed by a 6.3% pricing acceleration and optimistic quantity progress of 100 foundation factors.

Administration raised full-year steerage for the second consecutive time, now anticipating income between $6.575 billion and $6.6 billion with adjusted EBITDA approaching $1.975 billion, a 3% enchancment over unique steerage on a continuing forex foundation.

GFL achieved industry-leading margin growth of 90 foundation factors, with underlying strong waste margins increasing 250 foundation factors when excluding impacts from commodity costs, mergers and acquisitions, funding tax credit, and renewable pure fuel fluctuations.

Operational value self-discipline remained evident as bills as a share of income trended decrease, reflecting enhancements in labour turnover, course of optimization, and realization of self-help alternatives throughout the portfolio.

Voluntary worker turnover has declined to the excessive teenagers from north of 30% throughout COVID, approaching pre-pandemic ranges of 17% to 19%.

CEO Patrick Dovigi emphasised GFL’s aggressive capital deployment technique, as the corporate repurchased shares price $2.8 billion in 2025, exceeding its preliminary goal of $2.2 billion.

Mergers and acquisitions exercise remained strong with almost $650 million deployed 12 months so far, together with roughly $50 million after quarter finish. Dovigi expressed confidence that the merger and acquisition pipeline has by no means been stronger for the reason that firm went public, projecting deployments nicely in extra of $1 billion for 2026, doubtlessly 50% larger than 2025 ranges.

Analysts monitoring GFL inventory forecast adjusted earnings per share to develop from $0.59 in 2025 to $2.07 in 2029. The TSX inventory trades at a ahead price-to-earnings a number of of 67 instances, above its three-year common of 53 instances. If it reverts to its historic common of fifty instances, it ought to acquire over 40% from present ranges.

Is that this Canadian inventory purchase?

Valued at a market cap of US$458 million, SNDL (CNSX:SNDL) operates throughout the hashish and liquor retail sectors in Canada by way of 4 enterprise segments. SNDL reported file quarterly free money stream of US$16.7 million in Q3 of 2025, a milestone that showcases strengthening fundamentals.

The hashish large reported double-digit income progress in its mixed hashish segments, alongside margin growth throughout retail operations and a decline in promoting, common, and administrative bills of US$4 million in comparison with the prior 12 months.

Internet income for the quarter reached US$244 million, a 3.1% year-over-year improve, pushed by the hashish segments, whereas the liquor division continued to navigate market headwinds.

Gross revenue elevated US$1.2 million to US$64.2 million regardless of absorbing US$3.9 million in noncash inventory-related changes inside hashish operations that diminished gross margin by 160 foundation factors.

The stock changes greater than offset substantial margin growth in each the liquor and hashish retail segments, leading to a consolidated gross margin decline of 30 foundation factors in comparison with the prior 12 months.

Analysts forecast SNDL inventory to finish 2029 with adjusted earnings of US$0.63 per share, in comparison with a lack of US$0.30 per share in 2024. If the hashish inventory is priced at 10 instances earnings, which is kind of low-cost, it ought to acquire 250% by the top of 2028.