Finding Canadian stocks that can double in just five years is obviously not easy. But that doesn’t mean it’s impossible either. The best way to actually have a shot at finding these high-potential investments is to focus on buying high-quality growth stocks that still have plenty of runway left.
Growth stocks can be some of the best investments you can make because when earnings compound quickly, the share price usually follows over the long haul. That’s the whole strategy. You buy a business that can grow its earnings steadily, then you hold it as the business grows and compounds over time.
At the same time, though, you have to be realistic. Investing can bring excitement, especially when past performance can show you what a company is capable of and give you confidence in management, but it never guarantees anything.
Furthermore, the bigger a company gets, the harder it becomes to keep growing at the same pace. Doubling is a lot easier when a company is still relatively small or has a massive growth runway.
That’s why the Canadian stocks below are some of the best to buy now. None of them is guaranteed to double; no stock is. However, these three stocks are all still small enough, still growing fast enough, and still high-quality enough that a five-year doubling scenario is certainly on the table.
So, if you’re looking for top Canadian growth stocks to buy now, here are three of the very best.
Source: Getty Images
A top specialty finance stock with years of potential ahead of it
If you’re looking for a high-quality Canadian growth stock to buy now goeasy (TSX: GSY) is one of the best to consider, and not just because it could realistically double over the next five years.
Considering goeasy is trading dirt-cheap right now, its significant growth potential over the next five years, and its attractive and sustainable dividend with a current yield of 4.3%, it’s one of the most compelling investments on the market.
Not only has it already doubled between May 2023 and September 2025, but with goeasy trading at just 6.8 times forward earnings, and with analysts estimating a 25% increase in its normalized earnings per share in 2026 and another 20% jump in 2027, it’s undoubtedly one of the best stocks to buy now.
Plus, it’s also still a relatively small business with a market cap of just $2.1 billion, despite its dominant position in its niche market, which gives it a lot more runway than a mature financial giant.
A consumer discretionary stock that’s doubled four times in five years
One stock that’s been on fire lately and continues to have a tonne of growth potential is Aritzia (TSX: ATZ). Just five years ago, Aritzia was trading around $25 per share. Today, the stock is trading above $125 a share, and its 52-week high is just shy of $140 per share.
The reason for its explosive growth and continued prospects for growth in the near term is that Aritzia has built a brand that consistently resonates with consumers. Furthermore, it still has a massive growth runway in the U.S.
Furthermore, in addition to the growth potential Aritzia has as it expands its store count, its e-commerce platform, marketing strategy, and product mix have all contributed to the increasing popularity of Aritzia’s brand.
A dirt-cheap Canadian stock with massive growth potential
While Aritzia and goeasy have already seen massive gains in their share prices, one top growth stock that continues to remain undervalued is WELL Health Technologies (TSX: WELL).
Currently, WELL is trading at just 13 times forward earnings and 0.7 times its forward sales, which is unbelievably cheap for a growth stock of its potential. For comparison, Aritzia is trading at 34.7 times its forward earnings and 3.4 times its estimated sales over the next 12 months.
So, not only can the stock not stay this cheap forever, but WELL is also continuing to grow and improve its operations. As the company sells off non-core assets and focuses more on scaling its core business and improving margins, the stock only becomes more compelling for investors.
Already, its average analyst target price is sitting at a roughly 80% premium to where WELL is trading today, and that’s just where analysts estimate the stock will be a year from now.
So, if you’re looking for top Canadian growth stocks to buy today, WELL is certainly a top pick.
