In general, the strength of a company’s business is eventually reflected in its stock returns. However, we all know stock prices are highly volatile and often subject to rampant speculation. Warren Buffett once said, “In the short run, the market is a voting machine, but in the long run, it is a weighing machine.” What this implies is that a stock’s price at any particular moment might be driven more by its popularity (contesting, anyone?). But in the long run, the price will eventually reflect the weight of its underlying business, thus making the stock market a weighing machine.
Warren Buffett loves these businesses with deep moat and believes they have long run way and can delivery fantastic shareholder returns in the long run.
Here we might add that the “long run” should mean at least 20 years, or even longer.
In the following, we present the top 10 super businesses, or super stocks, over the really long run — 50 years as of October 2025.
| Symbol | Name | 1YrCAGR | 3YrCAGR | 5YrCAGR | 10YrCAGR | 15YrCAGR | 20YrCAGR | 25YrCAGR | 30YrCAGR | 35YrCAGR | 40YrCAGR | 45YrCAGR | 50YrCAGR |
| MDU | MDU Resources Group, Inc. | 25.21% | 25.04% | 19.99% | 13.68% | 9.75% | 7.39% | 8.98% | 10.76% | 11.60% | 17.47% | 24.83% | 23.09% |
| MCD | McDonald’s Corporation | 6.16% | 5.93% | 9.74% | 13.19% | 12.48% | 15.16% | 12.30% | 11.79% | 13.88% | 14.43% | 22.57% | 21.17% |
| WMT | Walmart Inc. | 26.85% | 30.85% | 18.84% | 20.47% | 14.61% | 12.05% | 10.04% | 13.53% | 13.19% | 15.43% | 19.19% | 20.28% |
| CSL | Carlisle Companies Incorporated | -22.07% | 12.13% | 22.66% | 15.51% | 17.59% | 13.65% | 13.40% | 13.91% | 15.88% | 15.02% | 13.45% | 17.71% |
| HUBB | Hubbell Incorporated | 10.28% | 27.37% | 28.62% | 19.59% | 18.04% | 14.78% | 15.76% | 12.65% | 22.49% | 22.50% | 20.01% | 17.48% |
| LMT | Lockheed Martin Corporation | -7.78% | 2.93% | 9.91% | 11.24% | 17.27% | 14.25% | 14.00% | 12.01% | 15.37% | 12.36% | 14.95% | 16.36% |
| ETN | Eaton Corporation plc | 13.20% | 38.79% | 32.17% | 24.27% | 18.66% | 16.83% | 17.83% | 16.10% | 17.06% | 15.66% | 15.81% | 15.83% |
| SPGI | S&P Global Inc. | 1.89% | 16.22% | 9.69% | 19.37% | 20.61% | 14.24% | 13.64% | 15.83% | 15.85% | 14.42% | 14.82% | 15.70% |
| SYY | Sysco Corporation | 3.36% | -2.18% | 8.96% | 8.94% | 9.44% | 7.39% | 7.02% | 10.58% | 11.10% | 13.74% | 15.20% | 15.66% |
| MSA | MSA Safety Incorporated | -4.85% | 6.69% | 4.83% | 15.32% | 14.42% | 9.20% | 15.94% | 14.42% | 12.75% | 13.56% | 12.59% | 15.41% |
Well, many of these companies are household names. These include McDonald’s, Walmart and Lockheed Martin. The stock returns of the top three companies, MDU Resources, McDonald’s and Walmart, are extremely impressive, as all have achieved more than 20% annualized returns. As a reference, Warren Buffett’s Berkshire Hathaway is estimated to have returned about 20% annually over the past 50 years. Unlike the three companies, Berkshire Hathaway relies on a combination of its own businesses and its shrewd investments in other stocks to achieve this superior return.
Let’s take a look at other shorter periods. Here is for the past 45 years, or since 1980.
| Symbol | Name | 1YrCAGR | 3YrCAGR | 5YrCAGR | 10YrCAGR | 15YrCAGR | 20YrCAGR | 25YrCAGR | 30YrCAGR | 35YrCAGR | 40YrCAGR | 45YrCAGR |
| MDU | MDU Resources Group, Inc. | 25.21% | 25.04% | 19.99% | 13.68% | 9.75% | 7.39% | 8.98% | 10.76% | 11.60% | 17.47% | 24.83% |
| MCD | McDonald’s Corporation | 6.16% | 5.93% | 9.74% | 13.19% | 12.48% | 15.16% | 12.30% | 11.79% | 13.88% | 14.43% | 22.57% |
| PGR | The Progressive Corporation | -13.04% | 18.45% | 19.99% | 22.91% | 20.19% | 13.66% | 16.69% | 16.98% | 18.02% | 18.59% | 20.98% |
| DHR | Danaher Corporation | -10.72% | -0.74% | 1.54% | 18.58% | 18.26% | 16.35% | 15.46% | 17.95% | 20.15% | 21.34% | 20.57% |
| HUBB | Hubbell Incorporated | 10.28% | 27.37% | 28.62% | 19.59% | 18.04% | 14.78% | 15.76% | 12.65% | 22.49% | 22.50% | 20.01% |
| HRL | Hormel Foods Corporation | -27.56% | -20.17% | -12.71% | -2.15% | 6.59% | 7.33% | 8.84% | 9.11% | 9.46% | 13.03% | 19.96% |
| SYK | Stryker Corporation | 2.45% | 18.37% | 13.98% | 15.65% | 15.82% | 12.86% | 12.75% | 15.84% | 17.69% | 18.82% | 19.51% |
| CHD | Church & Dwight Co., Inc. | -17.67% | 4.57% | -0.38% | 8.14% | 12.88% | 13.25% | 15.15% | 15.55% | 14.48% | 16.56% | 19.25% |
| WMT | Walmart Inc. | 26.85% | 30.85% | 18.84% | 20.47% | 14.61% | 12.05% | 10.04% | 13.53% | 13.19% | 15.43% | 19.19% |
| AFL | Aflac Incorporated | -0.89% | 20.62% | 28.77% | 15.43% | 12.05% | 10.31% | 9.61% | 14.16% | 16.35% | 16.03% | 19.08% |
Here, we see MDU, MCD, WMT and HUBB are still in the list.
Moving to 30 years or since 1995:
| Symbol | Name | 1YrCAGR | 3YrCAGR | 5YrCAGR | 10YrCAGR | 15YrCAGR | 20YrCAGR | 25YrCAGR | 30YrCAGR |
| AU | AngloGold Ashanti plc | 150.76% | 78.15% | 27.35% | 25.01% | 3.81% | 3.94% | 8.12% | 50.91% |
| WFRD | Weatherford International plc | -6.08% | 21.07% | 104.08% | 151.19% | 79.23% | 81.18% | 64.19% | 49.72% |
| MNST | Monster Beverage Corporation | 26.58% | 12.42% | 11.70% | 11.47% | 20.06% | 23.05% | 33.13% | 33.93% |
| INSM | Insmed Incorporated | 176.47% | 123.95% | 42.61% | 25.55% | 24.81% | 14.70% | 1.88% | 32.00% |
| TPL | Texas Pacific Land Corporation | -19.10% | 7.90% | 46.27% | 35.94% | 34.96% | 26.98% | 30.22% | 26.63% |
| AAPL | Apple Inc. | 18.51% | 21.61% | 20.72% | 25.87% | 25.38% | 28.77% | 31.48% | 26.01% |
| NVR | NVR, Inc. | -20.24% | 19.59% | 12.89% | 15.96% | 17.69% | 12.52% | 18.69% | 24.60% |
| HEI | HEICO Corporation | 25.04% | 24.18% | 24.33% | 28.20% | 24.32% | 24.04% | 22.87% | 23.36% |
| APH | Amphenol Corporation | 105.22% | 55.67% | 38.88% | 27.25% | 24.04% | 23.10% | 19.19% | 22.91% |
| ROST | Ross Stores, Inc. | 14.52% | 19.53% | 14.39% | 13.17% | 18.23% | 18.27% | 21.20% | 22.86% |
We are seeing a quite different picture. Also, AU has had an amazing 50% annualized return for the past 30 years! Also, we are seeing AAPL (Apple) in the list.
Moving to last 25 years or since 2000:
| Symbol | Name | 1YrCAGR | 3YrCAGR | 5YrCAGR | 10YrCAGR | 15YrCAGR | 20YrCAGR | 25YrCAGR |
| WFRD | Weatherford International plc | -6.08% | 21.07% | 104.08% | 151.19% | 79.23% | 81.18% | 64.19% |
| MNST | Monster Beverage Corporation | 26.58% | 12.42% | 11.70% | 11.47% | 20.06% | 23.05% | 33.13% |
| AAPL | Apple Inc. | 18.51% | 21.61% | 20.72% | 25.87% | 25.38% | 28.77% | 31.48% |
| NVDA | NVIDIA Corporation | 45.69% | 147.05% | 74.64% | 76.42% | 55.30% | 39.62% | 31.46% |
| TPL | Texas Pacific Land Corporation | -19.10% | 7.90% | 46.27% | 35.94% | 34.96% | 26.98% | 30.22% |
| TSCO | Tractor Supply Company | 2.65% | 9.08% | 17.10% | 13.07% | 20.68% | 17.95% | 29.11% |
| FIX | Comfort Systems USA, Inc. | 147.98% | 99.36% | 84.84% | 41.86% | 35.79% | 28.09% | 27.41% |
| ODFL | Old Dominion Freight Line, Inc. | -32.25% | 0.52% | 8.08% | 21.26% | 23.40% | 20.39% | 26.33% |
| DECK | Deckers Outdoor Corporation | -52.31% | 11.53% | 13.88% | 24.07% | 15.41% | 24.87% | 25.36% |
| TYL | Tyler Technologies, Inc. | -22.25% | 13.94% | 4.46% | 10.76% | 23.51% | 22.59% | 23.91% |
Now, we see Nvidia (NVDA), today’s most valuable company appeared in the list. Nvidia actually had a 37.85% annualized return since its IPO in 1999.
IIt’s also telling to see several best super stocks since 2000 have had large year to date loss. These include Old Dominion Freight Line, Deckers Outdoor, Tyler Technologies and Texas Pacific Land. However many of these companies do have superior business models with wide moats. One can start from these businesses and do further research.