Against this backdrop, these are the best Canadian stocks to hold for the next 20 years. These companies have solid fundamentals and the potential to outperform the broader stock market.
Best Canadian Stock No. 1: Enerflex
Investors looking for an attractive stock to hold for the next twenty years may want to consider this Enerflex (TSX:EFX). The company provides energy infrastructure and transition solutions, with growth increasingly driven by the energy infrastructure segment. This company benefits from long-term contracts that generate recurring revenue and reliable cash flow.
Enerflex’s long-term growth is likely to be supported by its Engineered Systems division, which provides customized modular solutions and has a solid order book. Meanwhile, the Aftermarket Services department sees a steady demand for maintenance and parts.
Looking ahead, rising natural gas production in the Permian Basin, fleet expansion plans and a focus on profitability will likely boost financials and the stock price. Furthermore, the debt reduction and focus on strengthening free cash flow bode well for long-term growth.
Top Canadian Stock No. 2: Cameco
Cameco (TSX:CCO) is a top TSX stock for long-term wealth creation. It is a leading uranium producer, with interests in high-quality, low-cost reserves that support strong profitability in commodity cycles. In addition, its strategic interests in Westinghouse Electric and Global Laser Enrichment further extend its reach across the nuclear fuel value chain.
Looking ahead, accelerated decarbonization efforts, rising demand for electricity from AI-powered data centers and supply contracts should support long-term stable cash flows and growth. Furthermore, its integrated business model and ongoing exploration activities to support future production position it well to take advantage of the long-term opportunities in the energy transition.
Top Canadian Stock No. 3: MDA Space
MDA space (TSX:MDA) is an attractive stock to buy and hold for the next twenty years. The recent pullback in MDA Space stock presents a solid buying opportunity for long-term investors. The space technology company will benefit from growing demand for its satellite systems, robotics and geo-intelligence, supported by rising global data consumption and increased defense spending.
Space in particular is becoming a strategic priority for national security. As governments invest more heavily in space-based defense and surveillance, MDA is well positioned to benefit. The company is also likely to benefit from solid momentum in its advanced satellite communications technology, which supports broadband and 5G connectivity. In addition, increasing interest in Earth observation and space robotics provides further tailwinds. Backed by a robust project backlog and a solid balance sheet, MDA Space appears well-equipped to support growth and generate attractive returns.
Top Canadian Stock No. 4: TerraVest
TerraVest Industries (TSX:TVK) is another top TSX stock for long-term wealth creation. It is a diversified industrial company serving multiple end markets, with an emphasis on home heating products, energy transmission and storage equipment, and fiberglass tanks. The broad portfolio continues to perform well, supported by recent acquisitions that are already contributing to earnings, with further benefits expected next year.
While recent rate announcements have created some short-term demand weakness, TerraVest’s focus on domestic production limits potential exposure. Furthermore, continued investments in production efficiency and product expansion strengthen the company’s competitive position. Looking ahead, the strong balance sheet positions the company well to pursue strategic acquisitions, supporting long-term growth and shareholder value.
#Canadian #stocks #hold #years