5 Canadian Stocks That Will Keep You Wealthy Forever

Buy-and-hold investing can be challenging in today's markets, where stocks and investment products are often treated like gambling chips. However, being an investor rather than a speculator is a differentiating strategy that can pay off.

Investors buy stakes in real businesses because they think the companies will create growth, cash flows, profits, and value over years and decades. With this approach in mind, here are five Canadian stocks worth holding for the long haul: Fortis (TSX:FTS), AltaGas (TSX:ALA), Constellation Software (TSX:CSU), Firan Technology (TSX:FTG), and Royal Bank of Canada (TSX:RY).

Fortis is a utility company with a resilient portfolio of transmission and distribution assets across North America. Its income is predictable due to 99% of its assets being regulated. The company has delivered a 10% compounded annual total return over the past 10 years, although it hasn't beaten the market's returns.

AltaGas is an infrastructure play with potential for long-term cash flow growth. The natural gas utility business in the US is experiencing high single-digit growth, and its energy export business is booming due to rising demand in Asia. AltaGas yields 2.4% but is expected to deliver mid-single digit dividend growth.

Constellation Software has recently faced pessimism over AI disruption concerns, causing its stock price to drop. However, the company is delivering outstanding results with 20%-plus revenue growth and even better cash flow growth. Constellation owns over a thousand software companies catering to specific niches across the economy.

Firan Technology is a small-cap stock providing circuit boards, sensors, and cockpit components for the aerospace industry. The major aerospace original equipment manufacturers have decades-long backlogs supporting demand for Firan's specialized parts. This demand is fueling strong backlogs and attractive organic growth for Firan.