Market volatility is inevitable, but owning great businesses can make short-term swings far less important. That’s why successful investors focus on buying high-quality companies they can confidently hold for years, allowing earnings growth, dividends, and compounding to work in their favour.
When building a long-term portfolio, diversification remains essential. A balanced mix of growth stocks, reliable dividend payers, and businesses benefiting from secular trends can help deliver attractive returns while reducing risk over time.
The key is identifying companies with durable competitive advantages, strong fundamentals, consistent cash flows, and management teams capable of creating shareholder value through changing economic cycles.
With that in mind, here are five Canadian stocks I’d feel comfortable buying today and holding for the next decade.
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Top Canadian stock #1: CES Energy stock
CES Energy (TSX:CEU) is the top Canadian stock to hold for the next 10 years due to its significant growth potential. It supplies specialized chemical solutions that help oil and gas producers improve well performance, increase efficiency, and protect infrastructure. CES Energy’s large U.S. revenue base, vertically integrated operations, strong demand, and flexible supply chain support its growth and add resilience.
Despite softer rig counts, CES continues to grow through market share gains, new customers, acquisitions, and rising demand for advanced chemical treatments. Its asset-light model generates strong free cash flow, supporting growth initiatives, dividend increases, and share buybacks. Looking ahead, rising energy demand is likely to boost investments in advanced chemical solutions that enhance performance and efficiency, creating a favourable backdrop for CES Energy.
Top Canadian stock #2: Cameco
Cameco (TSX:CCO) is well-positioned for long-term growth as demand for nuclear power rises, making it a compelling stock to hold for the next 10 years. Expanding electricity needs driven by AI, electrification, decarbonization, and energy security are boosting the outlook for nuclear energy, supporting steady uranium demand.
The company benefits from a portfolio of high-grade, low-cost uranium assets. Further, its investments in Westinghouse Electric Company and Global Laser Enrichment expand its presence across the nuclear fuel cycle, reducing reliance on mining alone.
In addition, Cameco’s disciplined production strategy and long-term supply contracts provide more predictable earnings while limiting exposure to uranium price swings.
Top Canadian stock #3: Hydro One
Hydro One (TSX:H) is a solid long-term investment, offering stability, income, and growth. Its regulated electricity transmission and distribution business generates predictable earnings and steady cash flows, with no exposure to commodity price volatility or power generation risks. These strengths have supported consistent dividend growth and reliable capital appreciation.
Hydro One has increased its dividend by about 5% annually from 2016 to 2022. Moreover, in recent years, its dividend growth has accelerated to around 6%, backed by an expanding rate base. With management targeting a 6% annual rate base growth through 2027, earnings and dividends are expected to rise 6-8% annually. Moreover, a strong balance sheet and ongoing grid investments are likely to support Hydro One’s long-term growth outlook.
Top Canadian stock #4: 5N Plus
5N Plus (TSX:VNP) is a strong long-term investment with solid growth potential over the next decade. The company produces high-purity metals and semiconductor materials used in fast-growing industries such as renewable energy, space technology, and advanced manufacturing. As demand in these sectors rises, 5N Plus is well-positioned to benefit.
Management is expanding production capacity and improving efficiency, which could boost margins and earnings over time. Despite ongoing geopolitical and trade-related risks, the company’s diversified customer base, strong order backlog, and healthy demand provide a solid foundation for sustained long-term growth.
Top Canadian stock #5: MDA Space
MDA Space (TSX:MDA) stands out as a compelling long-term investment, with strong growth potential over the next decade as the global space industry expands. Its businesses in satellites, robotics, and geointelligence are benefiting from rising demand driven by government and commercial spending.
Growth in satellite networks, lunar exploration, orbital infrastructure, and Earth observation continues to create new opportunities. Financially, the company remains on solid ground, ending the first quarter of 2026 with a $3.7 billion order backlog and a nearly $40 billion opportunity pipeline over the next five years.
Backed by proven technology and diverse growth drivers, MDA Space is well-positioned to generate attractive long-term returns.
