The NASDAQ Composite Index in the US is recognised as the go-to place for high-growth technology stocks.
However, it may surprise you to know that growth can also be found on other stock exchanges, too.
As an investor, it is a good idea to diversify your portfolio by purchasing stocks listed on different exchanges.
A recent example illustrates this — the NASDAQ recently fell into a bear market after falling more than 20% from its closing high in November last year.
Here are three stocks listed on three different exchanges that would be suitable for a growth investor.
Tractor Supply Company (NASDAQ: TSCO)
Although the NASDAQ may be better known as a platform for technology stock listings, Tractor Supply Company breaks this mould.
The company is the largest rural lifestyle retailer in the US and provides an extensive mix of products for customers to care for their homes, land and farms.
As of 25 December 2021, Tractor Supply operated 2,003 stores in 49 states.
For its fiscal 2021 (FY2021), the company reported a 19.9% year on year increase in net sales to US$12.7 billion.
Operating profit jumped by 31.1% year on year to US$1.3 billion, while net profit climbed 33.1% year on year to US$997 million.
The better performance was due to an increase in the number of people who adopted pets and shifted their focus to caring for their homes and farms during the pandemic.
An FY2021 dividend per share of US$2.08 was paid out, 38.7% higher than the US$1.50 per share in FY2020.
Tractor Supply’s loyalty programme, Neighbor’s Club, now boasts 23.6 million members, up from 19 million a year ago.
CEO Hal Lawton believes there is still a large total addressable market for the company’s products worth around US$180 billion.
Tractor Supply’s previous long-term store target of 2,500 stores has now been revised to 2,700, demonstrating that there is still a long runway for growth.
iFAST Corporation Limited (SGX: AIY)
Moving from the US to Singapore, we take a look at financial technology company iFAST Corporation Limited.
iFAST owns a platform for the buying and selling of securities such as unit trusts, equities, and bonds.
The group is present in five countries — Singapore, Malaysia, Hong Kong, China, and India.
iFAST has seen its top line more than doubled since FY2017, with revenue rising from S$101.1 million to S$216.2 million in FY2021.
Net profit has quadrupled during this period from S$7.7 million to S$30.6 million, while dividend per share has risen nearly 60% to S$0.048.
The group’s assets under administration (AUA) also hit a new record-high of S$19 billion as of 31 December 2021.
iFAST has unveiled a four-year plan on how it can become “bigger and better” by pursuing more licences and building a global business model.
Recently, the fintech company purchased an 85% stake in BFC Bank, a UK digital bank, for S$73 million.
This move will allow it to acquire more customers globally at a quicker pace, thus advancing its goal of hitting its target AUA of S$100 billion by 2028.
Techtronic Industries Co Ltd (SEHK: 0669)
Shifting from Singapore to Hong Kong, we have power tool manufacturer Techtronic Industries.
The company is a leader in power and hand tools, outdoor power equipment, and floor care products.
It carries brands such as Milwaukee, Ryobi and Hoover and employs over 48,000 employees.
For its FY2021 earnings, Techtronic reported a 34.6% year on year jump in revenue to US$13.2 billion.
The company’s gross margin has improved for the 13th consecutive year to 38.8% as it focused on launching high margin new products and enjoyed leverage from volume plus productivity gains.
Net profit climbed 37.2% year on year to US$1.1 billion, and the company hiked its dividend by 37% year on year to US$0.2381 per share.
Management is optimistic about 2022 as it maintains that it is on track with its internal performance targets in the first half.
The company promises to release innovative new products across its business units to ensure sales momentum continues and is confident of being able to deliver yet another year of strong performance.
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Disclaimer: Royston Yang owns shares of Tractor Supply and iFAST Corporation Limited.