4 TSX Growth Stocks I’d Buy for the Next Decade

These TSX growth stocks are solid investments for long-term investors seeking substantial capital appreciation over the next decade.

Business man on stock market financial trade indicator background.

Image source: Getty Images

You’re reading a free article with opinions that may differ from The Motley Fool’s premium investing services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn moresdf

Thanks to the recent selling, top TSX stocks have lost substantial value. While macro headwinds remain a concern, now is a perfect time to invest in stocks for the long term. Buying and holding onto top-quality TSX stocks for the next decade could result in substantial capital gains. With most TSX stocks looking attractive due to the recent selling, here are my top four picks to outperform the broader markets.  

goeasy

Leasing and lending services provider goeasy (TSX:GSY) could deliver stellar returns for its shareholders over the next decade. Its wide range of products, higher loan origination, new product launches, channel and geographic expansion, and strategic acquisitions could help the company to continue to deliver double-digit revenue growth in the coming years.  

Meanwhile, sales leverage, increased penetration of secured loans, higher repayment volumes, and improving efficiency could support its margins and earnings growth. goeasy is also a Dividend Aristocrat and could continue to enhance its shareholders’ returns through dividend growth. 

Shopify 

Down about 80% from its peak, Shopify (TSX:SHOP)(NYSE:SHOP) is a steal at current levels. Moreover, the recent stock split brings Shopify well within investors’ reach. While near-term growth concerns could limit the recovery of Shopify, its aggressive investments in sales, marketing, fulfillment, and POS provide a solid foundation for long-term growth. 

The growing penetration of e-commerce as a percentage of overall retail sales and ongoing digital shift provides a multi-year growth opportunity for Shopify. Moreover, its partnership with leading social media companies, value-added product launches, expansion of its existing products into new markets, the rollout of new merchant solutions, and strategic acquisitions bode well for Shopify and its shareholders. 

Cargojet 

Cargojet’s (TSX:CJT) market-leading positioning in the domestic air cargo market, its next-day delivery capabilities to most Canadian households, fuel-efficient fleet, and diversified revenue streams make me bullish on Cargojet stock. The air cargo company has delivered stellar returns in the past decade and is on track to beat the broader markets with its growth over the next decade. 

The growing e-commerce penetration and strong domestic network will likely accelerate its growth. Further, international growth opportunities, contractual arrangements with minimum revenue guarantee, retention of top customers, and the ability to pass on costs to customers are why Cargojet could deliver outsized returns over the next decade. 

Nuvei

Payment tech company Nuvei (TSX:NVEI)(NASDAQ:NVEI) is a solid bet to generate stellar returns in the coming years. Though its stock has trended lower this year, the momentum in its business has sustained. Moreover, management is confident of achieving stellar growth in the medium term, led by the continued shift towards the digital economy and Nuvei’s growing digital assets, crypto solutions, and increase in alternative payment options. 

Also, its growing customer base, cross-selling and up-selling of products at minimal sales and marketing costs, high retention rate, and opportunistic acquisitions will likely accelerate its growth. Nuvei will also benefit from its entry into new verticals and growing penetration of e-commerce. Further, new product launches will support its growth and recovery in its stock price. 

This article represents the opinion of the writer, who may disagree with the “official” recommendation position of a Motley Fool premium service or advisor. We’re Motley! Questioning an investing thesis — even one of our own — helps us all think critically about investing and make decisions that help us become smarter, happier, and richer, so we sometimes publish articles that may not be in line with recommendations, rankings or other content.

Fool contributor Sneha Nahata has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends CARGOJET INC., Nuvei Corporation, and Shopify.

More on Investing

Investing

KM Throwaway Post

Read more »

Investing

Carlos Test Yoast Metadata

Read more »

Investing

KM Ad Test

This is my excerpt.

Read more »

Investing

Test post for affiliate partner mockups

Updated: 9/17/2024. This post was not sponsored. The views and opinions expressed in this review are purely those of the…

Read more »

Investing

Testing Ecap Error

Premium content from Motley Fool Stock Advisor We here at Motley Fool Stock Advisor believe investors should own at least…

Read more »

Investing

TSX Today: Testing the Ad for James

la la la dee dah.

Read more »

Lady holding remote control pointed towards a TV
Investing

2 Streaming Stocks to Buy Now and 1 to Run From

There are streaming stocks on the TSX that are worth paying attention to in 2023 and beyond.

Read more »

A red umbrella stands higher than a crowd of black umbrellas.
Stocks for Beginners

Top Recession-Resilient TSX Stocks to Buy With $3,000

It's time to increase your exposure to defensives!

Read more »