Buying and holding top-quality growth stocks can help create significant wealth over time. Canadian companies with solid fundamentals, an increasing earnings base, and a large addressable market will likely deliver above-average returns, making them no-brainer growth stocks to buy right now. Against this backdrop, here are two growth stocks to buy for less than $500.

Growth stock #1

goeasy (TSX:GSY) is a top no-brainer growth stock to buy now for its solid fundamentals, double-digit revenue and earnings growth rate, and market-beating returns. The company is a leader in the Canadian subprime lending space and rapidly gaining scale.

Since 2013, goeasy has grown its revenue at a CAGR of 19%, while its adjusted earnings per share (EPS) have soared at a CAGR of 28.6%. This growth has translated into exceptional shareholder returns, with the stock appreciating by a stellar 946% over the past decade. Further, goeasy's robust earnings growth has enabled it to consistently increase its dividend payments during the same period.

This momentum in its business will likely sustain as the company continues to witness solid loan demand. Its broad product range, omnichannel offerings, solid credit underwriting capabilities, significant funding capacity, and diversified funding sources will lead to double-digit earnings growth and support higher dividend payouts.

goeasy stock also appears attractive on valuation. Its price-to-earnings multiple of 8.9 indicates significant value, given its double-digit earnings growth potential and a healthy yield. goeasy's solid growth, rising dividends, and low valuation add to the stock's appeal, making it a top stock to buy and hold for the long term.

Growth stock #2

Aritzia (TSX:ATZ) is a solid growth stock to add to your portfolio. This clothing company's broad product assortment, an exclusive mix of fashion brands, control over the supply chain, and strategic presence in premier retail locations across Canada and the U.S. enables it to generate strong revenue and earnings, which drive its share price higher.

Aritzia's top line has grown at a CAGR of 19% since fiscal 2016. At the same time, its bottom line increased at a CAGR of 13%. Aritizia is poised to maintain this growth trajectory through geographic expansion, digital enhancements, and operational efficiencies.

One of Aritzia's key growth drivers is its ambitious plan to expand its footprint in the U.S. market. By opening 8–10 new boutiques annually through fiscal 2027, the company aims to increase its retail square footage by approximately 60%. These new boutiques, strategically located in high-growth markets, are expected to boost revenue and elevate brand awareness among a broader audience.

In addition to its brick-and-mortar expansion, Aritzia is enhancing its omnichannel capabilities. By integrating e-commerce with physical retail, the company is creating a seamless shopping experience that is likely to drive higher customer engagement and online sales. This strategy positions Aritzia to capture growth opportunities in both digital and traditional retail channels.

Aritzia is also investing in technology, supply chain improvements, and targeted marketing campaigns. These initiatives are designed to improve operational efficiency, reduce warehousing costs, and enhance profit margins.

Looking forward, Aritzia projects its revenue to grow at a CAGR of 15–17% through 2027. This anticipated growth is expected to translate into strong earnings, further supporting the upward momentum of its share price.