It's only a couple of weeks until a new year and a new decade. It will be fascinating to see what happens in the coming years.
What's unlikely to change is that buying good value growth shares should lead to good returns. That's why I've got my eyes on these three growth ideas:
Webjet Limited (ASX: WEB)
Webjet is a leading travel business which has been growing rapidly for many years. Its WebBeds B2B business is growing organically at a very nice rate and it is hoped that it can reach an earnings before interest, tax, depreciation and amortisation (EBITDA) margin of 50% in the future.
The share price of Webjet is so cheap at the moment that it could lead to a takeover offer from private equity.
If Webjet is taken over then it could lead to a quick gain, if not then today's valuation still looks cheap at only around 14x FY21's estimated earnings. It continues to come up with new products and initiatives that could grow profit further.
Brickworks Limited (ASX: BKW)
Brickworks is one of Australia's largest building products businesses. It's already seeing a turnaround in the construction sector after a slowdown in 2019. Brickworks is seeing monthly growth of its order book.
But, it's also working on improving its US building products businesses which could be a big profit centre over the coming years with the US.
Brickworks has an impressive industrial property trust which it has a 50% stake of, the other half belongs to Goodman Group (ASX: GMG). A huge warehouse is planned for Coles Group Limited (ASX: COL) in the next few years, which should cause a large increase in valuation and net rental for Brickworks.
Finally, Brickworks owns a large investment in Washington H. Soul Pattinson and Co. Ltd (ASX: SOL) which deliver long-term growth of earnings and dividends.
Brickworks has a very attractive future and I think it's priced cheaply for what you get.
Bapcor Ltd (ASX: BAP)
The Bapcor share price is down 11% despite economic conditions somewhat improving in Australia and globally.
It's the leading auto parts business in Australia and New Zealand with a number of chains of businesses including Burson and Autobarn. It also has a number of wholesale businesses which it is aiming to grow.
In FY19 it grew underlying earnings per share (EPS) by 10.3% and it's expecting another year of growth in FY20. Management think FY20 profit can grow by at least mid-single digits. Compounding growth with growing dividends is a good combination.
A bonus is that it's expanding into Asia, which could be a huge opportunity if it goes well.
Foolish takeaway
Each of these three shares have very exciting prospects over the next few years. At the current prices I'd go for Webjet, but Brickworks also looks very compelling with its asset backing and the return to growth for the Australian construction industry.
