2 of the best buy-and-hold stocks on the TSX today

Foolish long-term investing has always been one of the easiest and most effective ways to build wealth. While daily headlines about emerging technology trends may tempt you into short-term trades, the real magic often lies in buying great companies and holding on to them for years or even decades. The Toronto Stock Exchange has no shortage of fundamentally solid companies, but few of them stand out as true buy-and-hold-forever stocks.

Lately, I’ve noticed two TSX-listed stocks that have tailwinds in clean energy and semiconductor materials and are posting strong financial results. If you think long term, these are exactly the kind of companies that can deliver results. Let me walk you through these two TSX stocks that could be ideal for a buy-and-hold approach today.

Ballard Power Stock

Stands first Ballard Energy Systems (TSX:BLDP) — a company that has spent years laying the foundation for growth and is finally starting to see results. Based in Burnaby, this company is known for its proton exchange membrane (PEM) fuel cell technology used in buses, trains and stationary power systems.

After years of weak performance, BLDP stock has seen a spectacular recovery of late, rising 143% in the past eight months. With this, the stock now trades at $3.94 per share with a market cap of approximately $1.2 billion.

Much of this TSX stock’s recent recovery could be attributed primarily to its improved execution. In the third quarter of this year, the company’s total revenue rose 120% year-on-year (year-on-year) to $32.5 million, thanks to strong demand from its bus and rail customers. For the quarter, Ballard’s gross margin also turned positive at 15%, compared to negative 56% a year ago.

This turnaround is largely due to its restructuring efforts, which have helped drive operating costs down 36% and cash burn. As a result, adjusted EBITDA (earnings before interest, taxes, depreciation and amortization) also showed great progress, narrowing losses from $60.1 million a year ago to $31.2 million this quarter.

With over US$525 million in cash and no debt on the balance sheet, Ballard has sufficient capital to support product introduction and ramp up long-term projects. As more governments and industries transition to clean hydrogen and low-emission transportation in the coming years, BLDP could become a solid long-term choice in the fuel cell sector for buy-and-hold investors.

5N Plus stock

Now let’s take a look 5N Plus (TSX:VNP), a TSX stock delivering record-breaking results in a niche but fast-growing sector. Simply put, this Montreal-based company produces specialty semiconductors and advanced performance materials used in aerospace, solar energy and medical imaging.

VNP shares have been one of the best performing TSX stocks this year and are now trading at $19.89 per share with a market cap of about $1.77 billion, after rising 214% in the past year.

This rally is clearly supported by the strong financial figures. In the latest quarter ending September 2025, 5N Plus achieved a 33% year-on-year increase in revenue to $104.9 million – the highest in 10 years. This revenue growth led to a notable 86% increase in adjusted quarterly EBITDA to US$29.1 million, driven by strong demand in the renewable energy and aerospace sectors, and better pricing for the bismuth-based product line.

Interestingly, 5N also has one of the healthiest balance sheets in its sector, with a net debt to EBITDA ratio of just 0.74. That gives it the flexibility to continue expanding its business while delivering value to long-term investors. With high margin growth, rising demand in core sectors and clear earnings momentum, this TSX stock could be a great buy-and-hold opportunity for long-term investors.