10 Best High Growth Stocks Outside Big Tech

4. Phillips 66 (NYSE:PSX)

EPS Growth Over the Next 5 Years: 48.40%

Hedge Fund Holders: 69

Phillips 66 operates refineries, midstream pipelines, chemicals, and marketing operations. By mid-September, its shares had risen more than 110% for the year, as the Middle East war reduced global refining capacity and increased margins. The company’s third-quarter results, released on October 28, showed how powerful that backdrop had become: adjusted earnings increased to $5.6 billion, or $14.08 per share, from $3.8 billion, or $9.41 per share, in the second quarter.

Revenue and cash generation also improved. Total revenues and other income reached $51.5 billion, with operating cash flow of $7.3 billion. Net debt decreased by 23% sequentially to $12.7 billion from $16.5 billion, and the company returned $2.8 billion to shareholders during the quarter. The results were driven by refinement. Refining adjusted pre-tax income increased from $3.09 billion to $6.06 billion, driven by record Central Corridor processed inputs of 848,000 barrels per day and a 41% distillate yield in the third quarter.

The recent rally is still depends on unusually wide refining margins. BMO warns that even a minor decrease might cause a significant downturn, while Morgan Stanley expects fuel markets to remain tight through mid-2027 but values Phillips 66 at a premium to peers on EV/EBITDA. The shareholder-return program, which aims to return more than half of operating cash flow, will also be more difficult to maintain if crack spreads stabilize. Even so, BMO believes the stock can reach new highs due to its record refining profitability, lower net debt, and ongoing shareholder returns. Read why BMO sees new highs ahead.

3. Reddit, Inc. (NYSE:RDDT)

EPS Growth Over the Next 5 Years: 51.32%

Hedge Fund Holders: 91

Reddit, Inc. runs the community platform where members debate everything from hobbies to finances, and it makes the majority of its money from advertising. The company’s second-quarter revenue increased 61% to $805 million, the eighth straight quarter above 60%, with net income of $253 million and adjusted EBITDA of $343 million, representing a 43% margin. At the same time, daily active uniques rose 18% to 130.3 million, weekly actives exceeded half a billion, international revenue grew 84%, and gross margin reached 91.3%.

The weaker spot is the quality of user growth. Logged-in users increased only 7%, while logged-out users, who frequently arrive via search, climbed 27%, and management reported choppy search referral volume late in the quarter. The company’s third-quarter projection of $860 million to $870 million suggests a growth rate of 47% to 49%, down from 61%.

Reddit currently trades at 31.32x trailing earnings and 18.87x forward earnings, with analysts forecasting fiscal 2026 EPS of $5.27 and $6.94. The lower forward multiple suggests that the market expects profitability to continue expanding rapidly, though the stock’s premium is dependent on Reddit maintaining both user engagement and advertising growth.

Investors will get the next update on those trends when Reddit announces Q3 results after the close on October 29. The Street expects revenue of around $874.8 million and adjusted EPS of $1.33, indicating around 50% revenue growth and 66% earnings growth year-over-year. The key risk to the bull case is user trends, especially as AI search and algorithm changes impact referral traffic. Read whether user trends are the bigger risk here.