Readers of this column are fully aware that a growth-stock rally is under way. But they may not know that an appetite for growth has rumbled its way overseas, too.

On Friday, the Financial Times reported that European fund managers, like their American counterparts, are increasingly turning to tech and other high-growth sectors to produce returns.

Moreover, some managers, including Jacob Tusch-Lec of U.K. fund manager Artemis, say that growth has gone cheap in Europe. "You can definitely pick up a lot of good growth out there without paying for it," Tusch-Lec told the FT.

Should you want to? Absolutely. Fast movers like Ryanair (NASDAQ:RYAAY), which is a Tusch-Lec pick for 2007, offer three important advantages:

  1. Businesses that make investors billions always begin as growth stocks.
  2. The best of them feature massive and identifiable competitive advantages.
  3. Growth as a strategy has the capacity to deliver 20% or greater annual returns for decades at a time.

How we do it
But not all growth stocks will do. Our weekly hunt is for the next great multibagger. But unlike David Gardner and his team at Motley Fool Rule Breakers, who scour everything from financial statements to trade magazines to clinical reports in their research, we're going to rely on the Motley Fool CAPS investor intelligence database.

Specifically, we're looking for stocks that are expected to grow earnings by an average of at least 20% annually over the next five years, and which have earned a five-star rating in CAPS. Five-star stocks are those that the community, on the whole, believes will outperform the S&P 500.

Let's have the list
Now, with that preamble behind us, here are five more top growth stocks:


No. of CAPS Ratings

Bullish CAPS Ratings

5-Year Growth Est.

Helix Energy Sol. (NYSE:HLX)
















Airspan Networks (NASDAQ:AIRN)




Source: Motley Fool CAPS, Yahoo! Finance

Bear in mind that this isn't a list of recommendations. Instead, I offer these stocks as candidates for further research -- and this is as interesting a group of candidates as I've yet seen. Surf-culture stalwart Volcom is a Motley Fool Hidden Gems pick, and Airspan makes its second appearance on this list.

But my pick of the top five is oil services firm Helix Energy Solutions. I'm convinced that its extraordinary growth, coupled with a below-industry average P/E, is a recipe for market-beating gains. There's also this top-rated pitch from CAPS player mlgilbert:

"The stock has been beaten down, but I feel that the oil services stocks will be growing as long as oil stays above $40-$50 ... Last I heard, they were still fully booked trying to fix the damage on the rigs from last year's hurricanes. Has diversified into getting paid to take over production of mature wells and use their technology to squeeze out the remainder before decommissioning."

Intrigued? Do your own due diligence, then check in with thousands of other investors at CAPS. If you'd like, add your own commentary. You'll be helping your fellow Fools and testing your ideas at the same time. Click here to get started now; the service is 100% free.

See you back here next week for five more top growth stocks.

How great is growth? Three of the dozens of stocks in the market-beating Motley Fool Rule Breakers portfolio have more than tripled in two years. Care to find out who they are? Click here to get 30 days of free access to the service.

Fool contributor Tim Beyers, ranked 1,095 out of more than 20,000 players in Motley Fool CAPS, is a sucker for growth stocks and a regular contributor to David's Motley Fool Rule Breakers service. Tim does not own shares of any of the companies mentioned in this story at the time of publication. Get the skinny on all of the stocks in Tim's portfolio by checking his Fool profile. The Motley Fool's disclosure policy is your portfolio's competitive advantage.