If you are looking for market-beating returns over the next decade, then the three growth shares listed below could be the ones to buy.
I think their strong growth prospects means that investors could at least double their money with them over the next 10 years.
Here's why I would buy them:
Altium Limited (ASX: ALU)
I think Altium has the potential to deliver very strong returns for investors over the next decade. This is due to its high quality electronic design software, its massive market opportunity, and its exposure to the rapidly growing Internet of Things (IoT) market. This year Altium expects to achieve 50,000 subscribers. After which, it is aiming for 100,000 subscribers by FY 2025. Combined with its other growing businesses such as NEXUS and Octopart, I feel Altium is well-placed to grow its earnings at a rapid rate for many years to come.
Domino's Pizza Enterprises Ltd (ASX: DMP)
Another great option could be Domino's Pizza. Its growth over the last few years has been a little up and down, but I remain confident the long term trajectory is upwards. Especially given its same store sales and store expansion goals. Over the next five years the pizza chain operator is aiming to deliver annual same store sales growth of 3% to 6% and annual organic new store additions of 7% to 9%. If it can at least maintain its margins, this should support strong earnings growth over the next decade.
Pushpay Holdings Ltd (ASX: PPH)
A final growth share to buy for market-beating returns is Pushpay. The donor management system provider has just released its full year results and revealed a stunning ~1,500% increase in EBITDAF in FY 2020, The good news is that more strong growth is expected over the next 12 months, with management aiming to double its EBITDAF in FY 2021. But it isn't about to rest on its laurels any time soon. The company has set itself a target of winning a 50% share of the medium and large church market. This represents a US$1 billion revenue opportunity for Pushpay. This compares to the operating revenue of US$127.5 million it recorded in FY 2020.
