After making a vivid begin to 2023, the Canadian fairness markets have been beneath strain over the previous couple of weeks amid the banking disaster, rising rates of interest, and stick inflation. The Canadian benchmark index, the S&P/TSX Composite Index, has misplaced round 5.8% in comparison with its February highs. Regardless of the weak point within the broader fairness markets, I’m bullish on the next two Canadian shares resulting from their strong financials and high-growth prospects.

Nuvei

Nuvei (TSX:NVEI) posted a strong 2022 efficiency earlier this month. The brand new product launches, growth into new markets, and addition of latest APMs (different fee strategies) led to quantity growth, with its complete quantity rising by 34%. Supported by strong quantity development, the corporate’s income and adjusted internet revenue elevated by 16% and 10%, respectively.

In the meantime, Nuvei additionally repurchased round 3.66 million shares for $167 million final 12 months. The corporate’s monetary place additionally appears to be like strong, with its money stability at $752 million. So, it’s effectively outfitted to fund its development initiatives.

The expansion in e-commerce has made digital funds common, thus making a multi-year development potential for Nuvei. The acquisition of Paya Holdings in February for $1.3 billion would develop its presence in underpenetrated and non-cyclical verticals. So, the corporate’s development prospects look wholesome.

In the meantime, the corporate’s administration expects its income to develop at an annualized fee of 20% within the medium time period. Additionally, the administration hopes to extend its adjusted EBITDA (earnings earlier than curiosity, tax, depreciation, and amortization) by over 50% in the long run. In the meantime, amid the difficult macro elements, the corporate trades at a reduction of over 67% from its all-time excessive. Additionally, its NTM (subsequent 12-month) price-to-earnings a number of has declined to 19.9, making it a lovely purchase.

WELL Well being Applied sciences

WELL Well being Applied sciences (TSX:WELL) is a small-cap digital healthcare firm that aids healthcare practitioners in offering digital companies to sufferers. Regardless of the difficult macro setting, the corporate posted a strong 2022 efficiency final 12 months. It achieved a report of three.5 million omnichannel affected person visits and 4.9 million affected person visits final 12 months. In the meantime, its income and adjusted internet revenue grew by 88% and 228%, respectively.

The robust efficiency from its higher-margin digital companies drove its income and gross margins. The corporate additionally generated an adjusted EBITDA of $104.6 million, representing year-over-year development of 73%.

In the meantime, I anticipate an uptrend in WELL Well being’s financials to proceed as the worldwide telehealthcare companies market might develop at an annualized fee of over 20% for the remainder of the last decade. Supported by its robust money flows, the corporate continues to develop its footprint in the USA and Canada by means of strategic acquisitions. It additionally just lately made some strategic investments in doctorly GmbH, which might assist the corporate develop its footprint in Germany.

In the meantime, amid the weak point in development shares resulting from rising rates of interest, WELL Well being trades at over 50% decrease than its all-time excessive. The selloff has dragged its valuation down, with its NTM price-to-earnings a number of declining to 16.6, making it a lovely purchase.