3 long-term stocks are on track to double (or more) by 2032

Investing in the stock market for the long term is always the best way to avoid losing money. However, identifying long-term stocks with robust business models and low risk can be somewhat difficult.

Selecting the right long-term investment opportunities doesn’t always have to start with a company’s financial performance. While this is extremely important to consider, investors often look for stocks that operate in industries with more stability. They can come from sectors including consumer staples, industrials and healthcare to name a few.

In addition, companies often have promising growth prospects even amid economic uncertainty. For investors who want to double their money in a safe way, considering that these stable giants can definitely make you rich in the long run.

Now, let’s discover the top 3 long-term stocks on track to double or more by 2032!

Walmart (WMT)

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Walmart (NYSE:WMT), currently the world’s largest retailer, is one of the top long-term stocks on track to double. With a strong global presence and a push into online channels, Walmart is well positioned to compete with others Amazon in the next decade.

Walmart is off to an incredible start in 2024, with the stock significantly outperforming the broader market. The stock is currently up 27% year-to-date compared to S&P 500 12%. The company’s omnichannel strategy and booming advertising business are driving strong growth in both domestic and international markets. Walmart’s competitive pricing model and extensive global supply chain networks have made it difficult for its competitors. In Q1 FY25, revenue rose 6% year-on-year to $161 billion, with global e-commerce sales up 21% year-on-year. In addition, its global advertising business grew 24%, including a 26% increase from Walmart Connect. With an impeccable track record and a fundamental focus on its customers, Walmart is set to outperform over the long term.

The TJX Companies (TJX)

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The TJX Companies (NYSE:TJX) is another company with an incredible history of beating earnings estimates and growing. 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 economy at large. For example, during the recent stock market downturn of 2022, when the S&P 500 fell nearly 20%, TJX stock returned 7%. When inflation crushed the US economy and peaked in June, the company was largely unaffected and reported record earnings. Moreover, since the crisis, its earnings growth has continued, while it has increased its dividend per share considerably. In its latest quarterly results, revenue rose 6% year over year to $12.5 billion. Net income rose 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)

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Services of the Republic (NYSE:RSG) is a business that every investor will enjoy owning in any macroeconomic environment. As a leading provider of waste management and recycling solutions, Republic is a beacon of stability due to the constant demand for these essential services.

Republic Services is a great long-term stock for several reasons. However, what makes the company really stand out is its extensive network of landfills across the United States. The company owns and operates over 200 modern warehouses that ensure the safe and efficient disposal of various materials. In addition, Republic prides itself on sustainability, with waste-to-gas facilities to power 20% of its truck fleet. After a tremendous operational year in 2023, CEO Jan Vander Ark continues to fire on all cylinders. In the second quarter, revenue rose 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 grow your wealth through 2032.

As of the date of publication, Terel Miles did not hold (either directly or indirectly) any position 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.

At the time of publication, the responsible editor had (either directly or indirectly) no position in the securities mentioned in this article.