My Top 5 Canadian Stocks to Buy Right Now for Massive Returns in a Decade

Buy and hold these top Canadian stocks to generate massive returns over the next decade.

Businessperson's Hand Putting Coin In Piggybank

Image source: Getty Images

Stocks remain one of the top asset classes to generate massive returns in the long term. Thus, investing in fundamentally strong stocks can help you achieve your long-term financial goals faster. However, stocks are volatile, and investors should take caution and consider investing in the shares of companies with the ability to grow revenue even on a large scale. Also, one should consider the company’s ability to generate or achieve sustainable earnings in the long term. 

With this background, here are five Canadian stocks with the potential to deliver massive returns over the next decade. 


Shares of e-commerce platform provider Shopify (TSX:SHOP) are a must in a long-term portfolio to create wealth. This tech stock has rebounded strongly from its lows and is up about 82% year to date. Despite the recent appreciation in its value, Shopify stock is well below its highs, implying it has more room to run. 

My bullish view about Shopify stock reflects the company’s ability to drive sales even on a large scale. Further, secular sector trends like the ongoing shift in selling models towards omnichannel platforms and innovative products like Payments and Capital position it well to deliver strong growth. Also, its focus on streamlining its operations and easing pressure on margins augurs well for the company to achieve sustainable profit in the long term. 


Docebo (TSX:DCBO) offers a cloud-based SaaS (Software-as-a-Service) platform for enterprise learning. The company benefits from its growing customer base and high subscription revenues. Moreover, an increasing number of its customers are adopting multi-year contracts through its land and expand strategy, which bodes well for long-term growth. 

Moreover, Docebo stock can be a solid addition for investors seeking exposure to AI (Artificial intelligence) stocks. The company expanded its generative AI capability with the recent acquisition of Edugo.AI. Overall, its growing enterprise customer base and increasing AI capabilities position it well to deliver solid returns. 


goeasy (TSX:GSY) stock has cooled off a bit due to macro concerns. However, this subprime lender continues to grow its revenue and earnings at a breakneck pace, implying one must accumulate its stock near the current levels to generate significant wealth over the next decade. 

Its vast product offerings, omnichannel presence, solid loan originations, stable credit performance, and operating leverage position it well to deliver double-digit sales revenue and earnings growth in the coming years. Moreover, investors can benefit from goeasy’s solid dividend payouts. 


Aritzia (TSX:ATZ) stock could be a solid addition near the current levels. The stock has witnessed a pullback on concerns over near-term margin headwinds. However, the demand for its offerings remains strong, and the company will benefit from the expansion of boutiques in high-growth markets. 

The company expects to grow its top line at a mid-teens rate in the medium term, while its earnings growth rate is forecasted to outpace sales. Overall, the solid demand, opening of new boutiques, strength in the e-commerce channel, and improving sales mix position it well to outperform the broader markets.

Brookfield Renewable Partners

With the increased focus on decarbonization, favourable policies, and a growing influx of capital, renewable energy stocks appear attractive long-term bets. Brookfield Renewable Partners (TSX:BEP.UN) can be a solid addition to your portfolio within the green energy space. 

Besides the secular sector trend, Brookfield Renewable Partners is expected to gain from its highly diversified renewable assets, power purchase agreements, solid development pipeline, and inflation indexation. Also, investors will likely benefit from its continued dividend growth. 

This article represents the opinion of the writer, who may disagree with the “official” recommendation position of a Motley Fool premium service or advisor. We’re Motley! Questioning an investing thesis — even one of our own — helps us all think critically about investing and make decisions that help us become smarter, happier, and richer, so we sometimes publish articles that may not be in line with recommendations, rankings or other content.

Fool contributor Sneha Nahata has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Aritzia and Shopify. The Motley Fool recommends Brookfield Renewable Partners and Docebo. The Motley Fool has a disclosure policy.

More on Investing

Hands holding trophy cup on sky background
Dividend Stocks

3 of the Top Dividend Stocks in Canada

Top TSX dividend stocks are still on sale.

Read more »

Index funds

Got $500 to Invest in Stocks? Put it in This Index Fund

Here's why I like this index fund.

Read more »

A colourful firework display
Tech Stocks

3 TFSA Stock Picks With Explosive Potential

Want some explosive growth in your TFSA. These small-cap stocks have risks, but they could also have some massive reward.

Read more »

Dollar symbol and Canadian flag on keyboard

1 Canadian Stock to Buy and Hold Forever in Your TFSA

Shopify (TSX:SHOP) stock is back on the retreat, but it's still a top tech buy for TFSA investors seeking value…

Read more »

tsx today
Stock Market

TSX Today: What to Watch for in Stocks on Thursday, July 25

The U.S. GDP quarterly growth numbers will remain on TSX investors’ radar today as they continue to assess the Bank…

Read more »

Family relationship with bond and care

Retiring Soon? Add These Dividend-Paying Stocks to Your Portfolio

Here are two of the best TSX dividend stocks you can add to your retirement portfolio today and hold for…

Read more »

man touches brain to show a good idea
Dividend Stocks

Pembina Vs. Brookfield Renewable: Which High-Yield Dividend Stock Is Better?

Both Pembina Pipeline (TSX:PPL) and Brookfield Renewable Partners (TSX:BEP.UN) look like strong dividend stocks, but is one better?

Read more »

Road signs rerouting traffic
Tech Stocks

Forget Nvidia Stock: 2 Tech Stocks to Buy Instead

There are clear winners, and then there are popular choices. And Nvidia stock (NASDAQ:NVDA) has erred towards simply popular.

Read more »