When it comes to investing for the long term, I focus on stocks that could grow, adapt, and dominate their industries. That’s why I’m putting my money into top Canadian growth stocks like Aritzia (TSX:ATZ) and BlackBerry (TSX:BB) — two Canadian companies that I believe have the potential to thrive over the next 10 years.
Aritzia has nailed its brand strategy and is rapidly expanding in the U.S. market, while BlackBerry has made an impressive pivot into secure communication and IoT (Internet of Things) technology. Both companies are playing the long game, and I want to be along for the ride.
In this article, I’ll break down why I’m all in on Aritzia and BlackBerry — and why they could be some of the best Canadian stocks to own for the next decade.
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Aritzia stock
Aritzia has certainly been on a roll of late, and that’s exactly what has me excited about its future. Now, let’s talk about what’s been happening with the stock recently.
If you don’t know it already, it’s a Vancouver-based fashion designer and retailer that’s mastered the art of blending style and business. Right now, ATZ stock is trading at $72.04 per share with a market cap of $8.1 billion.
Aritzia doesn’t currently pay a dividend, which makes sense given its strong focus on reinvesting for growth. But just because there’s no dividend doesn’t mean investors aren’t seeing gains. Over the past year, Aritzia’s stock has surged by over 79%, outpacing the broader market by a wide margin.
In its latest quarter ended in November 2024, the company’s revenue jumped by 11.5% YoY (year over year) to $728.7 million, with U.S. sales soaring 23.6%. Meanwhile, adjusted EBITDA (earnings before interest, taxes, depreciation, and amortization) climbed nearly 49%.
More importantly, Aritzia is playing the long game. With an aggressive expansion strategy in the U.S., a growing digital presence, and a brand that keeps pulling in loyal shoppers, I believe this company isn’t slowing down anytime soon. If Aritzia keeps executing like this, it could be one of the most rewarding growth stocks on the TSX.
BlackBerry stock
Now, let’s talk about BlackBerry. Over the last year, BB stock has doubled in value to currently trade at $7.53 per share with a market cap of $4.4 billion.
One of the biggest recent developments is BlackBerry’s decision to sell its Cylance cybersecurity division to Arctic Wolf for $160 million. This deal not only brings in fresh capital but also allows BlackBerry to streamline its focus on its core IoT and secure communications businesses. Meanwhile, BlackBerry’s QNX platform continues to dominate the automotive sector, powering over 255 million vehicles globally.
Moreover, the company’s financials have shown signs of improvement in recent years. In its latest quarter ended November 2024, BlackBerry delivered US$162 million in revenue, exceeding guidance for both its cybersecurity and IoT segments. In addition, it achieved positive free cash flow ahead of schedule, which could be seen as a big step toward long-term profitability.
With BlackBerry doubling down on its high-margin, enterprise-focused segments and rapidly growing demand for its services, I believe BB stock has plenty of runway for growth over the next decade.
