Building long-term wealth in the stock market isn’t about constant buying and selling. More often, it comes down to owning strong businesses and simply giving them time to grow, exactly the way suggested by the Foolish Investing Philosophy. That’s why the best investments tend to be stocks that can deliver consistent performance through different market cycles.
And two Canadian stocks that fit this approach really well are Canadian Natural Resources (TSX:CNQ) and Telus (TSX:T). Both are established leaders in their sectors with solid fundamentals and clear long-term strategies. Let’s explore their growth stories one at a time.
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Canadian Natural Resources stock
If you don’t know it already, Canadian Natural Resources is one of the largest crude oil and natural gas producers in Canada, with operations spanning Western Canada, the North Sea, and Offshore Africa. Following an over 50% increase in the last six months alone, CNQ stock currently trades at $68.23 per share with a market cap of $142 billion.
The Canadian oil and gas producer has continued to execute well as it recently registered record annual production in 2025, backed by both organic growth and acquisitions. As a result, its adjusted net profit came in at $7.4 billion, while adjusted funds flow reached $15.5 billion. This strong cash generation helped the company reduce its net debt to just under $16 billion, strengthening its balance sheet.
Encouraged by these solid results, Canadian Natural Resources has already raised its production guidance for 2026, reflecting confidence in its operations and recent acquisitions. It also remains committed to shareholder returns as CNQ recently raised its quarterly dividend by 6.4%, marking the 26th consecutive year of dividend growth — a track record that highlights its consistency over time.
Telus stock
Telus is a leading communications tech giant that provides broadband and wireless services to consumers, businesses, and government clients. Its stock currently trades at $17.92 per share with a market cap of $28 billion.
So far in 2026, Telus stock has declined by about 4%, which may present an opportunity for long-term investors. It also offers a high dividend yield of 9.3%, making it even more attractive for income-focused portfolios.
Operationally, the company continues to show progress. In the fourth quarter of 2025 alone, Telus added 377,000 net customers, including 50,000 mobile phone users and 287,000 connected devices. While its ARPU (average revenue per user) declined, the company’s overall mobile network revenue still increased, indicating improved execution.
Telus is also working to strengthen its financial position as it plans to reduce its net debt-to-adjusted EBITDA (earnings before interest, taxes, depreciation, and amortization) ratio to 3.3 times or lower by the end of 2026 and around 3 times by 2027. For 2026, the company expects consolidated service revenue and adjusted EBITDA growth of 2% to 4%, free cash flow of $2.45 billion, and capital expenditures of about $2.3 billion.
Why I trust these stocks
Canadian Natural Resources and Telus operate in very different industries, but they share a common strength: reliability. Canadian Natural Resources continues to generate strong cash flow and reward shareholders through consistent dividend growth. Telus, meanwhile, is focused on expanding its customer base, improving cash flow, and reducing debt. For investors with a long-term mindset, such stocks can steadily build value over time.
