Growth stocks are the top investments for building wealth over time. These companies expand faster than their industry peers, and that momentum translates into rising share prices. However, growth stocks are often characterized by heightened volatility, with prices capable of rising sharply and correcting sharply in response to market sentiment or shifting expectations.
Thus, when investing in growth stocks, look for companies with solid underlying fundamentals, a durable business model, and potential to generate sustainable profitability. These Canadian stocks are well-positioned to outperform the broader market and deliver notable gains.
With that backdrop, here are two growth stocks to hold for the next decade.
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Growth stock #1: SECURE Waste Infrastructure
SECURE Waste Infrastructure (TSX:SES) is a compelling growth stock to buy and hold for the next decade. It operates across waste management and energy infrastructure, leveraging a portfolio of infrastructure-backed assets and a high proportion of production- and industrial-linked volumes. This structure provides stability across market cycles, generating recurring cash flows.
Recent macroeconomic uncertainty, particularly tariff-related pressures, has weighed on the company’s metals recycling segment. However, these headwinds appear temporary. At the same time, performance in SECURE’s core waste management and infrastructure operations remains strong, continuing to drive its financials and share price appreciation.
Over a three-year period, SECURE Waste stock has appreciated by over 303%, outperforming the broader market by a wide margin.
Looking ahead, SECURE Waste is well-positioned to sustain its growth trajectory. Supporting its outlook is the company’s pipeline of long-duration infrastructure projects. As these assets come online, they are expected to materially contribute to earnings, with a noticeable uplift in adjusted EBITDA anticipated from 2026 onward. At the same time, SECURE continues to invest in high-return organic opportunities and expand its infrastructure network to meet increasing demand.
Further, a recovery in the metals recycling segment could provide incremental earnings support and further accelerate growth.
Overall, SECURE Waste Infrastructure appears well-positioned to deliver attractive long-term returns, supported by recurring cash flows, disciplined capital allocation, and a solid growth pipeline.
Growth stock #2: Celestica
Celestica (TSX:CLS) is another top TSX growth stock to consider for the next decade. The data center infrastructure and advanced technology solutions provider is benefitting from strong AI-driven demand for its high-performance networking equipment, particularly as it scales production of 800G networking switches for major hyperscaler customers.
Although Celestica’s stock has risen significantly over the past three years, hyperscalers are expected to continue increasing capital expenditures on AI infrastructure, with a particular focus on complex data centre hardware and integrated systems, which will likely support its share price.
Celestica reported strong Q4 growth, driven by the ramp-up of AI/machine learning compute programs with a major hyperscaler client. This momentum is expected to build through 2026, with rising volumes and accelerating revenue. Looking ahead to 2027, demand should remain robust, supported by continued AI/ML deployments from hyperscalers and digital-native customers. Management forecasts stronger overall business performance, with communications segment revenue growing in the low 60% range, driven by production ramps across multiple 800G programs.
Celestica’s robust pipeline of opportunities positions it well for continued expansion. As investment in AI infrastructure continues to rise, Celestica appears well-positioned to capitalize on this trend and deliver attractive long-term returns.
