The US tends to dominate the market when it comes to growth shares. The tech-heavy S&P 500 is packed full of bloated megacaps with high valuations. Yet it’s only up about 10% this year.
Meanwhile, back home, the FTSE 100 is more popular for high-yielding dividend stocks. That’s because UK investors have historically been more income-inclined.
That can make UK shares feel boring. But for those who look beyond the megacaps, hidden growth gems exist.
I’ve found three that are far outpacing the S&P 500 this year.
CMC Markets
CMC Markets (LSE: CMCX) is a multi‑asset online trading and investing platform that quietly turned a strong year of volatility into record results. Recent FY2026 results revealed net operating income up 15% to £392.6m, while profit before tax climbed 20% to £101.3m.
Management is aggressively chasing institutional and B2B partnerships, Australian stockbroking alliances, and API deals with online banks. It’s also mentioned plans for a UK ‘Super App’. With return on equity (ROE) at around 17%, it appears to be using shareholder capital efficiently.
The flip side is that CMC is entering a heavy investment phase, with operating expenses rising as it funds this growth. That adds a degree of execution risk.
If you’re bullish about the rise of retail and ‘gamified’ trading, it’s one worth considering. I think it’s got real potential.
Hardide
Hardide (LSE: HDD) is an AIM‑listed penny stock that provides specialist coatings. The shares hover around 70p–80p, with a market cap close of £57.5m.
For the year to 30 September 2025, revenue increased 27% to £6m and EBITDA reached £1m, moving the business firmly into profitable territory. Return on equity (ROE) looks high at 33%, but partly reflects a modest equity base.
Management is focused on aerospace and energy customers, with growth plans centred on North America. It’s a good angle, but also exposes the shares to customer concentration and industrial cycles.
Valuation is where things get uncomfortable. Recent ratios show a price‑to‑book (P/B) ratio of 7.78, far above many industrial peers and consistent with extreme overvaluation.
That means the current price is probably highly speculative. It could still go further, but I’d only consider a very small position at this point.
Keller Group
Keller Group (LSE: KLR) is a global ground‑engineering contractor, with a solid foundation in infrastructure and construction. I find that preferable to the hyped-up, speculative growth stories in US tech.
The 2025 annual report describes “record financial performance”, with revenue up 3% to £3,087.3m and underlying operating profit up 2.6% to £218.2m (at a 7.1% margin). A high ROE around 23% suggests Keller is not messing around with its shareholder capital.
The group finished 2025 in a net cash position of £59.7m, with a £1.5bn order book and plans for a £100m share buyback. CEO James Wroath said it was “a time of such strong performance and clear opportunity,” underlining management confidence.
The thing is, construction and infrastructure is cyclical, so if the market weakens, Keller will follow. That adds volatility risk for investors.
Still, with a mix of decent growth potential and a sensible valuation, it feels like a quality compounder. For investors with a 10-20 year outlook, it’s another strong contender worth considering.
Should you invest £5,000 in Cmc Markets Plc right now?
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Mark Hartley does not hold any positions in the companies mentioned.
