If you’ve been investing your hard-earned savings through a Tax-Free Savings Account (TFSA), choosing the right stocks can make a bigger difference than trying to predict the market. A TFSA works best when it holds quality stocks that keep compounding quietly while avoiding unnecessary risks.
For a business to grow in the long run, strong execution, steady demand, and long-term expansion plans often matter more than short-term hype. When backed by improving earnings and a clear strategy, such Canadian stocks can thrive inside a TFSA and help you generate solid returns on investments. In this article, I’ll highlight two of the best stocks TFSA investors can buy right now and hold for years to come.
Dollarama stock
Staying with businesses that deliver everyday value like Dollarama (TSX:DOL) could be a smart place to start when building a TFSA portfolio. This Mont-Royal headquartered company operates a large network of discount stores across Canada. It also has growing exposure in the international market, through Dollarcity in Latin America and its newer Australian business.
After climbing 47% so far in 2025, DOL stock is currently trading at $200.92 per share, giving it a market cap of about $55 billion. This strong performance has been backed by stable consumer demand for its products and the company’s focus on strong execution.
In the third quarter of its fiscal 2026 (three months ended on November 2, 2025), Dollarama’s sales climbed 22.2% YoY (year-over-year) to $1.9 billion. Its home market comparable store sales during the quarter rose 6% with the help of higher transaction volumes and slightly larger basket sizes.
More importantly, the company’s profitability also moved higher with its quarterly net earnings growing 16.6% YoY to $321.7 million. Similarly, scale benefits and a favourable product mix, offsetting higher costs tied to Australia, also boosted its quarterly EBITDA (earnings before interest, taxes, depreciation, and amortization) last quarter to $612 million.
Moreover, Dollarama continues to open new stores, repurchase shares, and refine its international footprint. These factors brighten its growth outlook further and make it one of the best stocks for TFSA investors focused on long-term compounding.
Nutrien stock
To bring balance to your TFSA built around long-term growth, you could also consider buying Nutrien (TSX:NTR) – a stock tied to global food and agriculture demand. As a global provider of crop inputs and agricultural services, it serves farmers across multiple regions.
Following a 33% increase in its share price, NTR now trades at $87.24 apiece with a market cap close to $42 billion. Nutrien also offers an attractive annualized dividend yield of about 3.5%, which will add dependable income to your TFSA.
The recent strength in this TFSA-friendly stock could mainly be attributed to its improving operational performance. In the September 2025 quarter, Nutrien reported adjusted earnings of US$0.97 per share, compared to just US$0.39 per share a year ago. Similarly, higher fertilizer sales volumes and stronger results from its retail segment also drove its adjusted quarterly EBITDA sharply higher to US$1.4 billion.
Interestingly, the company has increased its focus on simplifying its portfolio lately. The recent sale of its Profertil stake for about US$600 million is expected to improve its cash flexibility and support its future capital allocation priorities, including debt reduction and additional share buybacks.
With crop nutrient demand expected to improve further in the coming years, Nutrien continues to rank among the top TFSA stocks for investors seeking income and long-term growth without much risk.
