Building long-term wealth in the stock market is less about reacting to day-to-day news and more about filtering out the noise and sticking to your plan. In addition, it mainly requires patience and, above all, fundamentally strong stock picks. Even with the TSX Composite at all-time highs, the market still has plenty of great opportunities. In fact, I find many of Canada’s strongest companies undervalued based on their long-term growth prospects.
In this article, I’ll cover three TSX-listed stocks that could offer serious upside in the long run and are worth holding onto.
Source: Getty Images
TFI International stock
The first stock that could fit nicely in a long-term investor’s portfolio is TFI International (TSX: TFII). This transportation and logistics giant, with operations across Canada, the U.S., and Mexico, has been through a rough patch lately.
TFI stock is currently trading at $123.87 per share, with a market cap of about $10.3 billion and a quarterly dividend with a nearly 2% annualized yield.
TFI reported a dip in earnings in the first quarter of 2025 as weak freight demand weighed on its results. But it still managed to post a 5% YoY (year-over-year) rise in its total revenue to US$1.96 billion with the help of new acquisitions like Daseke, which boosted its truckload segment’s performance.
More importantly for long-term investors, TFI continues to generate strong free cash flow and remains committed to rewarding shareholders through dividends and buybacks. With a disciplined strategy and growing presence in North America, this logistics stock has the potential to see a bounce back and deliver solid gains over the next decade.
Boyd Group stock
The second TSX stock worth a look for patient investors right now is Boyd Group Services (TSX: BYD), which is a major player in the auto collision and glass repair business across North America.
The company recently posted mixed first-quarter results, with its revenue slipping 1% YoY to US$778.3 million. But despite softer demand, it gained market share and managed to improve gross margins to 46.2% due mainly to better pricing and in-house service expansion. Interestingly, Boyd’s new leadership is currently focusing on a cost-cutting strategy to unlock $100 million in savings by 2029.
Boyd stock is currently trading at $206.11 per share, giving it a market cap of about $4.4 billion. The stock has slipped about 23% over the last year, but with a long-term annual revenue target of US$5 billion, it could reward patient holders in the years ahead.
Richelieu Hardware stock
Rounding out this list of long-term TSX opportunities is Richelieu Hardware (TSX: RCH), a firm that supplies specialty hardware and complementary products to manufacturers and retailers across North America.
RCH stock is currently trading at $34.77 per share with a market cap of about $1.9 billion and offers a modest annualized dividend yield of 1.8%. While it has dropped nearly 13% over the last 12 months, Richelieu remains focused on long-term growth moves. In the first quarter of 2025, the company’s sales rose 8.6% YoY, supported by five new acquisitions that expanded its presence in both Canada and the United States.
It also continues to invest in retail and distribution upgrades, preparing itself for future demand. Moreover, for long-term investors, Richelieu’s disciplined expansion strategy and consistent cash generation could make it a solid compounder over time.
