With enough time on your side, even a small initial investment can grow into a fortune on the stock market. It isn't uncommon for a successful, growth stock to multiply its market capitalization over several years as the company expands its sales base and improves its earnings power.

And you don't have to invest in unproven, risky businesses to get good results, either. With that idea in mind, let's look at three stocks that look primed to deliver excellent long-term returns for shareholders. Read on for some good reasons to buy Tractor Supply (TSCO 3.26%), Airbnb (ABNB 0.75%), and PepsiCo (PEP -0.62%).

1. Tractor Supply has room to run

Tractor Supply isn't nearly done with its high-growth phase. The rural lifestyle retailer in late January revealed that sales jumped 21% year over year in the fiscal fourth quarter even after having spiked a year earlier. The company is winning market share in its pet, livestock, and rural home furnishings niches. It is also boosting sales through a healthy balance between higher customer traffic and increased spending per visit.

There's room for these gains to continue for many years even as the company adds more stores to its base. Profitability and cash flow trends are solid, too, meaning you don't have to worry much about a recession severely disrupting the business. And, with the company's recent dividend boost (its 14th consecutive annual hike), an increasing amount of your returns will come from steadily rising dividend income.

The stock has gained 142% over the past three years and its price-to-earnings ratio sits at a somewhat premium 24.5. But that P/E is down significantly from where it was at the start of 2022 (around 30), suggesting a buying opportunity. 

2. Airbnb isn't fully booked

Investors pushed Airbnb stock lower in 2022 on fears of a recession potentially striking in 2023. But that short-term worry is creating an opportunity for long-term gains.

Booking trends were excellent in the most recent selling period, after all. Airbnb also achieved a record $318 million of net income in Q4 on just $1.9 billion of revenue. That result shows the power and efficiency of its platform-based business.

Sure, demand for rooms and homes will be pressured if economic growth rates continue to slow. But Airbnb isn't as sensitive to these factors as a hotel chain or a vacation booking platform because a large proportion of its business comes from longer-term stays. Its supply of homes can grow during a downturn, too, as people look for more ways to raise cash from underutilized space.

Airbnb stock is down 15.7% from a year ago, but it's up 65% year to date. That suggests the stock is recovering from the pandemic, but that there is still an opportunity for more recovery.

3. PepsiCo is still a growth stock

PepsiCo has been around for decades and already has a huge business in the consumer-packaged foods and beverage industries. But even a small investment today can pay big dividends down the road.

Organic sales in 2022 were up a blazing 14% on top of the prior year's 10% spike. Pepsi had no trouble passing along higher prices, either, which is partly a reflection of the brand strength within its portfolio. It helps that the company runs like a well-oiled machine so that PepsiCo avoided the type of supply chain issues that hurt consumer staple brand peers like McCormick.

PepsiCo's valuation is down lately as Wall Street frets about the likelihood of slower growth over the next few years as compared to 2021 and 2022. But, as PepsiCo wins more market share, boosts margins, and raises its dividend payment, investors should see great returns from holding this Blue-Chip stock over many years.