Are these 3 ASX companies the best growth stocks for the next decade?

Over the past decade, long-term investors could have made a killing by investing in those stocks that would grow rapidly over the period, dragging their share prices along with them.

The S&P/ASX 200 (Index; ^AXJO) (ASX: XJO) has advanced by 43.8%, including dividends since October 2004, but stocks like REA Group Ltd (ASX: REA) have climbed 5,000%. Even venerable stalwarts like the banks have smashed the index, with Commonwealth Bank of Australia (ASX: CBA) up 331% in the past decade.

So can these three stocks generate the types of returns investors want to beat the index?

Let’s take a look….

iSentia Group Ltd (ASX: ISD)

With a market cap of $550 million, the provider of media monitoring services to thousands of customers across Australasia and Asia and has been around for more than 30 years. It may look expensive sporting a P/E ratio of 21x for the 2015 financial year, but iSentia is forecasting compound annual growth in net profit of 43.6% between 2013 and 2015.

Veda Group Ltd (ASX: VED)

The credit scoring company is even bigger than iSentia, with a market cap approaching $2 billion, and nearly double its IPO price of $1.25. On a P/E ratio basis Veda is even more expensive – 25x earnings for the 2015 financial year. But Veda is a defensive stock likely to perform in all markets, and analysts are forecasting high double-digit growth in earnings over the next couple of years. If you want quality, you sometimes might have to pay up for it.,With the shares down 4.3% today, now might be an opportunity.

Newzulu Ltd (ASX: NWZ)

An interesting company with a tiny market cap of just $19 million, Newzulu could revolutionise traditional news media. The company crowdsources news stories and has around 150,000 citizen journalists in more than 150 countries. It’s even a valuable source of verifying news stories for the likes of Australian Associated Press (AAP) and a number of other well-known news sources. Newzulu is high risk and has yet to turn a profit, but that might not be far away.

I’ve got all three on my watchlist, and you may want to keep an eye on them as well.

Here's another company that could smash the index over the next 10 years...

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I already own the stock, and think you should too.

Motley Fool writer/analyst Mike King doesn't own shares in any companies mentioned. You can follow Mike on Twitter @TMFKinga

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