Robust, high-growth companies such as Imperial Oil are appealing to investors for many reasons. They bring about a strong upside to your portfolio, and less downside risk as opposed to financially challenged companies. If a buoyant growth prospect is what you’re after in your next investment, I’ve put together a list of high-growth stocks you may be interested in, based on the latest financial data from each company.
Imperial Oil Limited (TSX:IMO)
Imperial Oil Limited explores for, produces, and sells crude oil and natural gas in Canada. Formed in 1880, and run by CEO Richard Kruger, the company size now stands at 5,600 people and with the company’s market cap sitting at CAD CA$31.09B, it falls under the large-cap group.
Driven by the positive double-digit sales growth of 11.81% over the next few years, IMO is expected to deliver an excellent earnings growth of 55.59%. An affirming signal is when net income increase also comes with top-line growth. Even though some cost-reduction initiatives may have also pushed up margins, in the case of IMO, it does not appear extreme. We see this bottom-line expansion directly benefiting shareholders, with expected positive return on equity of 4.21%. IMO ticks the boxes for robust growth generation on all levels of line items, which makes it an appealing stock to dig into deeper. Want to know more about IMO? I recommend researching its fundamentals here.
Héroux-Devtek Inc. (TSX:HRX)
Héroux-Devtek Inc. engages in the design, development, manufacture, repair, and overhaul of aircraft landing gears, hydraulic flight control actuators, and fracture-critical components in Canada, the United States, the United Kingdom, and internationally. Started in 1942, and currently headed by CEO Gilles Labbé, the company size now stands at 1,408 people and with the company’s market cap sitting at CAD CA$509.32M, it falls under the small-cap category.
HRX’s forecasted bottom line growth is an optimistic 20.64%, driven by the underlying double-digit sales growth of 41.66% over the next few years. Profit growth, coupled with top-line expansion, is a positive indication. This is because net income isn’t artificially inflated by unsustainable activities such as one-off cost-reductions expected in the future. This prospective profitability should trickle down to shareholders, with analysts expecting the company to generate a positive return on equity of 5.35%. HRX’s impressive outlook on all aspects makes it a worthy company to spend more time to understand. Should you add HRX to your portfolio? Take a look at its other fundamentals here.
Opsens Inc. (TSX:OPS)
Opsens Inc. develops, manufactures, installs, and sells fiber optic sensors for interventional cardiology, fractional flow reserve (FFR), oil and gas, and industrial applications. The company now has 130 employees and with the market cap of CAD CA$93.76M, it falls under the small-cap group.
Want to know more about OPS? Check out its fundamental factors here.
For more financially robust companies with high growth potential to enhance your portfolio, use our free platform to explore our interactive list of these stocks.
To help readers see pass the short term volatility of the financial market, we aim to bring you a long-term focused research analysis purely driven by fundamental data. Note that our analysis does not factor in the latest price sensitive company announcements.
The author is an independent contributor and at the time of publication had no position in the stocks mentioned.