2 Growth Stocks That Could Double Your Money By 2032

Those who have held shares of Netflix (NASDAQ: NFLX) or Shopify (NASDAQ: SHOP) for a while are sitting pretty, as both companies have delivered outstanding returns over the long run, even with significant volatility along the way. Although they are far more mature corporations now, there is plenty left in their growth tanks.

Over the next six years, Netflix and Shopify could both achieve a 12.25% compound annual growth rate (CAGR), which would be sufficient to double investors' capital over this period. That's not an easy feat. Here's why they can pull it off.

Image source: Getty Images.

1. Netflix

Over the past month, Netflix has garnered plenty of headlines with its proposed blockbuster acquisition of Warner Bros. The deal is far from certain to close, given the many moving parts, including opposition from some lawmakers. However, investors shouldn't let all that noise distract them too much from Netflix's core business.

The leader in streaming had another solid year in 2025. In addition to its strong subscriber numbers that continue to drive revenue in the right direction, Netflix is ramping up its relatively new ad business. Both of these should be important tailwinds over the next five years. Netflix still commands just a tiny fraction of television viewing time even in the U.S., but streaming continues to gain over cable.

Meanwhile, the company has a proven strategy, powered by its strong content library and the ability to license (or create) new movies or TV shows based on minute data on consumer habits. These strengths are hard for competitors to replicate at a similar scale, and that's partly because Netflix has the largest ecosystem in the industry.

Furthermore, the company is looking to expand its offerings, notably by making a push into sports, an area currently dominated by other leading streaming services. But don't bet against Netflix here -- its brand name alone is sure to attract a large number of sports fans as the company offers more options in that niche. This should lead to more subscribers, higher revenue (including from advertising), more data, and higher-quality content. The playbook won't change.

It doesn't need to. Over the next six years, Netflix could post the 12.25% CAGR it needs to double investors' money by 2032, thanks to it. The stock remains a buy despite recent volatility.

2. Shopify

Two-and-a-half years ago, Shopify streamlined its operations by divesting its logistics business and focusing on its high-growth, lower-cost core e-commerce offerings. The results have been outstanding. Since then, revenue growth has remained strong and, perhaps even more importantly, margins and profits have improved. Shopify's trailing 12-month net income has been in the green for several quarters now. The company could ride that wave over the next six years, as there remain massive opportunities in e-commerce.

Even in the U.S., online retail transactions account for less than 20% of the total transactions in the country, a figure that has increased significantly over the past decade. Shopify has established itself as a leader in its niche market, helping merchants build online storefronts.

Shopify specializes in building websites geared toward online commerce, rather than general-purpose websites. Its platform comes with thousands of customization options and can support the scale and volume of mid-level and large online retailers. Shopify also offers a range of additional services, including inventory management, payment processing, and marketing, all while enabling its merchants to sell their products on popular social media platforms.

All these perks have allowed it to attract millions of merchants, most of whom it should lock into its ecosystem for a while, given its high switching costs. Given Shopify's economic moat, growth prospects, and rapidly expanding revenue, earnings, and free cash flow, the stock appears to be a buy-and-hold investment for the next six years (and beyond).

Prosper Junior Bakiny has positions in Shopify. The Motley Fool has positions in and recommends Netflix, Shopify, and Warner Bros. Discovery. The Motley Fool has a disclosure policy.