2 great Canadian stocks to own for the long term

At the end of the year, many Canadian investors are assessing their portfolios and reconsidering their long-term strategy. Amid all the noise of interest rate decisions, inflation updates, artificial intelligence (AI) news and geopolitical headlines, it’s easy to overlook the value of simply owning great companies for the long term. But time and time again, that’s exactly what works for the world’s most successful investors. On the TSXSome well-established companies continue to deliver results year after year, even as market sentiment changes.

In this article, I highlight two top Canadian stocks that offer the kind of resilience, growth potential and dividend reliability that make them ideal choices to hold for years to come.

Food Couche-Tard Stock

The first stock on my list, Food Couche-Tard (TSX:ATD), continues to show the world how consistency in day-to-day service can lead to remarkable growth. The Laval-based retailer currently has stores in 29 countries and territories under popular banners such as Circle K and Couche-Tard, giving the company the ability to perform during any cycle.

ATD stock is now trading at about $76.33 per share, having risen 11% over the past three months, giving it a market cap of nearly $71 billion. It also offers a small but reliable dividend yield of 1.1%, paid out quarterly.

In the second quarter of fiscal 2026 (three months ending in October), Couche-Tard’s net profits rose 4.5% year-over-year (year-over-year) to $740.6 million, thanks to a 2.6% increase in total revenue. This performance was mainly driven by stronger merchandise sales and healthy fuel margins as the company continues to manage costs efficiently despite inflationary pressures.

Meanwhile, Couche-Tard’s continued expansion through quality acquisitions, digital programs and new store construction continues to strengthen its footprint. With more than 73 stores under construction and new initiatives such as the GetGo integration in the US, the company appears well positioned for consistent earnings growth. Considering this Fundamentally, ATD remains one of the best Canadian stocks to buy and hold for the long term, especially for investors looking for a mix of stability, global scale and reliable income.

Canadian National Railway stock

Canadian National Railway (TSX:CNR), or CN, could be another durable and reliable stock that long-term investors can bet on without hesitation. The Montreal-based rail transportation giant is quietly powering the North American economy by building nearly 20,000 miles of track connecting Canada’s coasts to the U.S. Midwest and Gulf Coast.

CN stock is currently trading around $133.83 per share with a market cap of $82.5 billion. It also offers a dividend yield of 2.7% at this market price.

Even as macroeconomic uncertainties continue to impact the transportation sector, CN posted a strong 5% year-over-year increase in its net profit to $1.14 billion in the latest quarter. This increase was mainly supported by growth in intermodal and coal shipments, which offset slight weakness in grain and metals. During the quarter, the company’s operating ratio also improved by 170 basis points to 61.4%, demonstrating that management’s efficiency programs are paying off.

During the quarter, CN achieved $75 million in labor cost savings, improved train and car speeds, while also improving fuel efficiency. By 2026, it plans to spend roughly $2.8 billion on capital projects, down from this year’s $3.35 billion, as it cuts costs while investing in capacity additions and technology.

Backed by stable earnings, prudent spending and a key role in North American trading, this Canadian stock remains a long-term favorite for investors looking for lasting power and returns.