It may come as a surprise, but did you know that buying the right growth stocks can enable you to grow your wealth significantly over time? The key is in selecting companies that demonstrate solid growth and have a long runway to continue increasing their revenue, profits, and free cash flow. By holding these stocks over the years, you can multiply your wealth and build a valuable nest egg for your retirement.

Here are three stocks that could see their share prices increase significantly in the next five years.

Person drinking coffee.

Image source: Getty Images.

Garmin

Garmin (GRMN 1.55%) designs and manufactures a wide range of products for the automotive, aviation, marine, and outdoor recreation markets. The company saw strong demand for its innovative products, and posted higher revenue, net income, and free cash flow, as shown in the table below.

Metric 2022 2023 2024
Revenue $4.860 billion $5.228 billion $6.297 billion
Operating income $1.028 billion $1.092 billion $1.594 billion
Net income $973.585 million $1.290 billion $1.411 billion
Free cash flow $543.973 million $1.183 billion $1.239 billion

Data source: Garmin. Fiscal years end Dec. 31.

The business continued to report healthy growth in its top and bottom lines for the first quarter of 2025. Revenue rose 11.1% year over year to $1.54 billion, while operating income increased by almost 12% year over year to $332.8 million. Net income came in at $332.8 million, 20% higher than a year ago. Garmin also generated a positive free cash flow of $380.7 million for the quarter. It declared an annual cash dividend of $3.60, amounting to $0.90 per share per quarter. This level of dividend was 20% higher than the $3 annual cash dividend paid out in the prior year.

Garmin's innovative new products look set to increase the company's earnings and free cash flow. In April, the company debuted vivoactive 6, its newest health and fitness smartwatch. This product has up to 11 days of battery life, making it convenient for people to use of the watch's myriad features to track their workouts and lifestyle. Later in the month, Garmin introduced Instinct 3-Tactical Edition, a new line of smartwatches made for extreme sports and rugged activities.

Management updated its 2025 guidance for revenue to come in at around $6.85 billion, representing a nearly 9% year-over-year increase. Garmin's cutting-edge products and useful features should continue to endear it to new generations of customers, helping it continue its growth trajectory.

BlackLine

BlackLine (BL 0.25%) operates a cloud platform that allows organizations to streamline their financial operations, helping to improve accuracy and efficiency. The company is seeing steadily increasing demand for its services, and it reported higher revenue over the last three years. The business also broke even in 2023 and generated significantly higher free cash flow.

Metric 2022 2023 2024
Revenue $522.938 million $589.996 million $653.336 million
Operating income ($56.198 million) $14.348 million $18.536 million
Net income ($29.391 million) $52.833 million $161.174 million
Free cash flow $25.831 million $99.016 million $163.996 million

Data source: BlackLine. Fiscal years end Dec. 31.

For Q1 2025, BlackLine reported continued strong financial performance. Revenue rose 6% year over year to $166.9 million, while operating income more than doubled year over year to $3.6 million. However, net income fell by 44% year over year, mainly due to lower net interest income and a significantly higher tax bill. Free cash flow remained healthy at $32.6 million for the quarter. BlackLine's remaining performance obligations increased by 11% year over year to $913.2 million.

The company continued demonstrating healthy growth, with the total number of customers increasing by 1% year over year to 4,455. More customers also migrated over to BlackLine's new platform pricing model, bringing the total users to 393,892, an increase from 387,050 a year ago. Management expects 2025's revenue to be in the range of $692 million to $705 million, with the midpoint of $698.5 million representing year-over-year growth of 6.9%.

BlackLine expanded its artificial intelligence (AI) capabilities by embedding AI agents in every aspect of its financial workflow, ranging from recordkeeping to invoice-to-cash. This move enables its customers to make decisions faster and to obtain real-time insights. With the demand for digitalization staying strong and the company introducing useful innovations for its cloud platform, BlackLine looks set for continued growth.

Dutch Bros

Dutch Bros (BROS 1.71%) is a specialty coffee chain with 1,012 locations across 18 U.S. states as of March 31, 2025. The company has demonstrated strong growth over the years as it aggressively opened new stores. The business broke even in 2023 and became free cash flow positive by 2024.

Metric 2022 2023 2024
Revenue $739.012 million $965.776 million $1.281 billion
Operating income ($2.612 million) $46.222 million $106.093 million
Net income ($4.753 million) $1.718 million $35.258 million
Free cash flow ($127.997 million) ($88.542 million) $24.694 million

Data source: Dutch Bros. Fiscal years end Dec. 31.

Q1 2025 saw the company report yet another robust set of earnings. Revenue climbed 29% year over year to $355.2 million, while operating income rose 21.5% year over year to $31.1 million. Net income more than doubled year over year to $15.4 million. Dutch Bros ended Q1 2024 with 876 stores and saw its store count increase by 15.5% year over year to 1,012. Systemwide same-shop sales also grew 4.7% for the quarter, due to an increase in ticket size (3.4 percentage points) and the number of transactions (1.3 percentage points).

Dutch Bros intends to continue its expansion plan by opening at least 160 new shops this year. Revenue is projected to be around $1.565 billion for 2025, representing a year-over-year growth of 22.3%. Same-store sales growth is expected to be positive, in the range of 2% to 4%.

Management recently communicated its long-term growth plan during its Investor Day session, with a target of 2,029 shops by 2029. Annual revenue growth is expected to be in the range of around 20% per year, with shop contribution margin at around 30%. Dutch Bros estimates that its total addressable market is more than 7,000 shops nationwide, giving the business ample opportunity to continue growing its presence and increase its top and bottom lines.