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Great stocks can be found in any market environment, even if share prices fluctuate with time. However, solid businesses with great financials and durable growth pathways will typically reflect that with relatively steady share price increases over time. If you're looking for top stocks to buy and hold for the long term, here are two companies to consider adding to the mix.

1. Eli Lilly

Shares of Eli Lilly (NYSE: LLY) have had a tremendous 106% run-up over the past 12 months. The company's expansion into the diabetes and weight loss drug markets has been a notable factor here. Both its diabetes drug Mounjaro and its weight loss drug Zepbound contain the same active ingredient -- the GLP-1 (glucagon-like peptide 1) receptor agonist tirzepatide.

Eli Lilly shares the GLP-1 market with Novo Nordisk, which markets its agonist, semaglutide, under the name Ozempic for diabetes and Wegovy for weight loss. Together, they are expected to dominate that space for some time. A recent report by J.P. Morgan estimates the global GLP-1 drug market will hit a valuation of about $71 billion by 2032, and forecasts that Eli Lilly and Novo Nordisk will each control approximately 45% of sales in the space.

As icing on the cake, Eli Lilly just clocked another huge win when the Food and Drug Administration delivered its long-awaited approval of Kisunla for the treatment of early symptomatic Alzheimer's disease. Analysts are broadly expecting it to be another blockbuster, with peak sales potential of $5 billion or more annually.

Mounjaro brought in total sales of $1.8 billion in the first quarter of 2024 alone, and another blockbuster, cancer drug Verzenio, added $1.1 billion to the pharmaceutical giant's top line. Zepbound was only approved in November, but already is bringing in more than $500 million in quarterly revenue for the company. Eli Lilly's total revenue for Q1 came to $8.8 billion, a 26% increase from one year ago, and net income soared 67% to $2.2 billion.

The company has been a reliable dividend payer with a solid track record of elevating its payouts. Its stellar stock performance has compressed its yield to a modest 0.6%, but Eli Lilly maintains a payout ratio of approximately 69% of earnings. For long-term healthcare investors, this stock looks like a no-brainer choice to buy and hold for the long run.

2. Dutch Bros

Drive-thru coffee chain Dutch Bros (NYSE: BROS) started out as a pushcart by railroad tracks in 1992. Now, the company has 876 locations in 17 states and is a top brand in the quick-service beverage industry. Shares are up about 35% from 12 months ago, and up 26% from the start of this year.

There is certainly no shortage of fast-casual coffee chains in the U.S., though Starbucks remains a dominant force in this space. However, Dutch Bros has managed to differentiate itself through methodical, steady growth. It also stopped franchising locations in the last few years, so all new shops are company-owned.

In the first quarter, Dutch Bros opened 45 new shops across 14 states, while total revenues rose 40% year over year to $275 million. Company-operated shop revenues grew 43% to $248 million, while company-operated shop gross profit nearly doubled to $54 million.

The company wasn't profitable on a GAAP (generally accepted accounting principles) basis in Q1, but over its past four reported quarters, it pulled in profits of about $12.6 million and raked in $178 million in operating cash flow.

Management intends to expand its footprint to more than 4,000 shops over the next decade and beyond. It has opened 30 or more shops every quarter for the past 11 quarters, and began beta testing a mobile order and pay app in Q1. The company plans to have mobile ordering capabilities in most of its shops by the end of 2024.

Dutch Bros' simple business model revolves around a proven source of consumer spending. Investors interested in smaller chains with ample growth opportunities might find this coffee shop stock an appealing place to park some cash.

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JPMorgan Chase is an advertising partner of The Ascent, a Motley Fool company. Rachel Warren has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends JPMorgan Chase and Starbucks. The Motley Fool recommends Novo Nordisk. The Motley Fool has a disclosure policy.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.