The companies with the fastest revenue growth.
Inputs to our calculation
Growth companies generate substantial and sustainable revenues that don't just grow, but grow faster and faster over time. They typically have some sort of competitive advantage (a new product, breakthrough patent, or overseas expansion), or a high barrier-to-entry that allows them to fend off competitors.
Growth companies usually pay no or smaller dividends, instead choosing to reinvest retained earnings into fueling their continued growth.
You'll normally find growth companies in the Technology sector (think Facebook, Google, Amazon, Netflix, etc.). These companies are normally considered relatively expensive (high price-to-earnings and price-to-book ratios), and trade at high valuation multiples.