The Canadian market has been flat in the last week but is up 13% over the past year, with earnings forecasted to grow by 15% annually. In this context, growth companies with high insider ownership can be particularly attractive as they often signal strong confidence from those closest to the business.

Top 10 Growth Companies With High Insider Ownership In Canada

Click here to see the full list of 37 stocks from our Fast Growing TSX Companies With High Insider Ownership screener.

Here's a peek at a few of the choices from the screener.

Payfare

Simply Wall St Growth Rating: ★★★★★☆

Overview: Payfare Inc. (TSX:PAY) is a financial technology company offering instant payout and digital banking solutions to gig economy workers in Canada, the United States, and Mexico, with a market cap of CA$417.92 million.

Operations: Payfare Inc. generates revenue primarily from its Internet Software & Services segment, which amounted to CA$205.11 million.

Insider Ownership: 14.7%

Payfare Inc. showcases strong growth potential with revenue expected to increase by 23.1% annually, outpacing the Canadian market average. Recent earnings reports highlight significant improvements, with Q2 sales reaching C$55.99 million and net income doubling to C$4.9 million year-over-year. The extension of its partnership with Lyft and new features for the Lyft Direct debit card enhance its financial services offerings for drivers, supporting continued expansion and profitability in this niche market.

• Delve into the full analysis future growth report here for a deeper understanding of Payfare.

• Upon reviewing our latest valuation report, Payfare's share price might be too optimistic.

Propel Holdings

Simply Wall St Growth Rating: ★★★★★☆

Overview: Propel Holdings Inc. is a financial technology company with a market cap of CA$1.04 billion.

Operations: Propel Holdings generates revenue of $382.44 million by providing lending-related services to borrowers, banks, and other institutions.

Insider Ownership: 40%

Propel Holdings demonstrates strong growth potential with forecasted annual revenue and earnings growth significantly outpacing the Canadian market. Recent Q2 results showed sales of US$106.75 million, up from US$71.69 million, and net income nearly doubling to US$11.12 million year-over-year. The company has increased its dividend for the third time in 2024, reflecting confidence in sustained profitability. However, substantial insider selling over the past three months may raise some concerns about long-term insider confidence.

• Click here and access our complete growth analysis report to understand the dynamics of Propel Holdings.

• Insights from our recent valuation report point to the potential overvaluation of Propel Holdings shares in the market.

TerraVest Industries

Simply Wall St Growth Rating: ★★★★☆☆

Overview: TerraVest Industries Inc. manufactures and sells goods and services to energy, agriculture, mining, transportation, and other markets in Canada and the United States with a market cap of CA$1.89 billion.

Operations: The company's revenue segments include Service (CA$201.78 million), Processing Equipment (CA$117.58 million), Compressed Gas Equipment (CA$243.77 million), and HVAC and Containment Equipment (CA$292.90 million).

Insider Ownership: 21.9%

TerraVest Industries has demonstrated strong growth, with recent earnings showing a significant increase in revenue and net income. For the nine months ended June 30, 2024, revenue was CAD 681.16 million compared to CAD 504.42 million a year ago, and net income rose from CAD 28.77 million to CAD 51.66 million. Despite high debt levels and past shareholder dilution, the company is trading below its estimated fair value and forecasts suggest continued robust earnings growth of over 20% annually.

• Dive into the specifics of TerraVest Industries here with our thorough growth forecast report.

• Our valuation report unveils the possibility TerraVest Industries' shares may be trading at a premium.

Where To Now?

• Investigate our full lineup of 37 Fast Growing TSX Companies With High Insider Ownership right here.

• Invested in any of these stocks? Simplify your portfolio management with Simply Wall St and stay ahead with our alerts for any critical updates on your stocks.

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Ready To Venture Into Other Investment Styles?

• Explore high-performing small cap companies that haven't yet garnered significant analyst attention.

• Diversify your portfolio with solid dividend payers offering reliable income streams to weather potential market turbulence.

• Find companies with promising cash flow potential yet trading below their fair value.

This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.The analysis only considers stock directly held by insiders. It does not include indirectly owned stock through other vehicles such as corporate and/or trust entities. All forecast revenue and earnings growth rates quoted are in terms of annualised (per annum) growth rates over 1-3 years.

Companies discussed in this article include TSX:PAY TSX:PRL and TSX:TVK.

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