Investing in the stock market for the long term is always the most sound way to avoid losing money. However, identifying long-term stocks with robust business models and little risk can be somewhat tricky.
Selecting the right long-term investing opportunities doesn’t always have to start with a company’s financial performance. While this is extremely important to consider, investors often look to stocks that operate in industries with more stability. They can hail from sectors including consumer staples, industrials, and healthcare, to name a few.
Additionally, the companies often have promising growth prospects even in the midst of economic uncertainty. For investors looking to double their money in a safe manner, considering these stable giants can certainly make you rich over the long term.
Now, let’s discover the top 3 long-term stocks on track to double or more by 2032!
Walmart (WMT)
Walmart (NYSE:WMT), currently the world’s largest retailer, stands as one of the top long-term stocks on track to double. With a strong global presence and push into online channels, Walmart is well positioned to rival the likes of Amazon in the next decade.
Walmart is off to an incredible start in 2024, with the stock significantly outperforming the broader market. Presently, the stock has risen 27% year to date, as compared to the S&P 500’s 12%. The company’s omnichannel strategy and booming advertising business are driving robust growth in both domestic and international markets. Walmart’s competitive pricing model and extensive global supply chain networks have made it extremely hard on its competitors. In its Q1 FY25, revenue increased 6% year over year to $161 billion, with global e-commerce sales up 21% from the year prior. Additionally, its global advertising business grew by 24%, including a 26% bump from Walmart Connect. With an impeccable track record and fundamental focus on its customers, Walmart is set to outperform over the long term.
TJX Companies (TJX)
TJX Companies (NYSE:TJX) is another company with an incredible history of beating its earnings estimates and surging higher. Known for operating its popular retail brands including TJ Maxx, Marshalls, and HomeGoods, TJX remains a household name in the retail sector.
TJX Companies is a unique company that has shown resilience even during downturns in the stock market and the broader economy. For instance, during the recent 2022 stock market downturn when the S&P 500 fell nearly 20%, TJX’s stock returned 7%. When inflation crushed the U.S. economy and hit its peak in June, the company was largely unaffected and reported record earnings. Moreover, since the debacle its earnings growth expansion has continued while increasing its dividend per share handsomely. In its latest quarterly results, revenue increased 6% year over year to $12.5 billion. Net earnings swelled 20% year over year to $1.1 billion, or 93 cents per share. TJX’s solid business model and focus on high-quality merchandise at affordable prices make it well-positioned to return value to shareholders.
Republic Services (RSG)
Republic Services (NYSE:RSG) is a business that every investor will love owning in any macroeconomic environment. As a leading provider of waste management and recycling solutions, Republic is a beacon of stability due to the steady demand for these essential services.
Republic Services is a great long-term stock for a variety of reasons. However, what makes the company truly stand out is its extensive network of landfills across the United States. The company owns and operates more than 200 modern landfills that provide safe and effective disposal of various materials. Furthermore, Republic prides itself on sustainability, with waste facilities converting gas to power 20% of its trucking fleet. After a stellar operational year in 2023, CEO Jan Vander Ark continues to execute on all cylinders. In the second quarter, revenue increased 9% year over year to $4.05 billion. Additionally, net earnings increased 20% year over year to $511.5 million, with adjusted EBITDA margin up 115 basis points. With management raising its full-year earnings and cash flow guidance, RSG stock is among the best long-term stocks to multiply your wealth through 2032.
On the date of publication, Terel Miles did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
On the date of publication, the responsible editor did not have (either directly or indirectly) any positions in the securities mentioned in this article.
