Despite continued uncertainty in the stock market for Canadian investors, particularly due to the constant threat of tariffs, there are plenty of high-quality growth stocks investors can still buy with confidence.
Uncertainty typically leads to volatility, and volatility creates excellent buying opportunities. That’s why it’s essential to look for the highest-quality companies in Canada and ensure you understand the businesses well.
So, if you’re looking for top Canadian growth stocks to buy now, here are three of the best.
One of the very best growth stocks to buy for your portfolio
Without question, one of the top growth stocks that you can buy today and plan to hold for years to come is WELL Health Technologies (TSX:WELL).
WELL has been an excellent growth stock for many years now. In fact, in the three years from the end of 2021 through 2024, WELL’s revenue has increased from just $302 million to just shy of $1 billion, a compound annual growth rate (CAGR) of more than 48%.
However, even with that incredible jump in revenue, the best may still be yet to come for WELL, especially as it continues to increase its profitability.
Not only does it continue to acquire more outpatient clinics in Canada and is already the largest owner/operator of these clinics in the country, but it’s quickly improving the profitability of these businesses, leading to rapid growth in its earnings before interest, taxes, depreciation, and amortization (EBITDA).
For example, while its revenue is expected to increase by 16.3% in 2025, analysts estimate its EBITDA will jump by 19.7% as its margins continue to improve. Furthermore, its normalized earnings per share (EPS) are expected to increase by 27.7% in 2025, showing its significant growth potential and why it’s a top stock to buy now.
Going forward, WELL continues to search for more clinics to acquire for its portfolio, which will not only boost revenue but also help to continue scaling its operating costs.
Plus, in addition to its acquisition of clinics, WELL is also worth considering due to its defensive nature. There is still a tonne of uncertainty about the economy going forward. However, as a healthcare stock, WELL operates in one of the most defensive industries.
So, if you’re looking for top Canadian growth stocks to buy now, WELL is certainly one of the best, especially while it trades nearly 20% off its 52-week high.
An impressive specialty finance stock
Speaking of stocks that have grown their revenue rapidly in recent years, goeasy (TSX:GSY) is another top growth stock to buy now.
Over the past five years, goeasy has grown its revenue from just over $600 million in 2019 to what analysts estimate will be slightly more than $1.5 billion when it reports earnings later today. That’s a CAGR of 20.1%.
Furthermore, also like WELL, while its top-line growth has been impressive, its growth in profitability is even more spectacular.
In 2019, goeasy reported a normalized EPS of $5.17. Meanwhile, analysts estimate that goeasy managed to generate normalized EPS of $16.59 in 2024, which would be a CAGR of 26.3%.
Therefore, it’s no surprise that the stock has earned investors a total return of more than 188% in the past five years, a CAGR of 23.5%. It’s also no surprise that analysts estimate another 20% increase in its normalized EPS in 2025, showing why it’s one of the top growth stocks to buy now.
A top Canadian retail stock to buy in February
Finally, another stock that’s been on a roll lately is Aritzia (TSX:ATZ), the vertically integrated design house. Just like both WELL and goeasy, Aritzia’s growth over the past few years has been astronomical.
Despite significant headwinds like the pandemic and surging inflation, its revenue increased at a CAGR of 21.7% in the five years from fiscal 2019 to fiscal 2024.
And when it reports its earnings for fiscal 2025 over the next few months, analysts estimate another 15.2% increase in revenue. It’s also expected to see a recovery in its normalized EPS to $1.85 after higher costs weighed on its profitability in fiscal 2024.
Therefore, before it officially recovers fully and continues its rapid pace of growth, Aritzia is easily one of the top growth stocks to buy now.
