Doubling a $7,000 Tax-Free Financial savings Account (TFSA) contribution in a single yr would take a 100% return, and that’s uncommon. You solely get there with a high-volatility inventory that catches an ideal wave, or with concentrated danger that may simply as simply reduce your account in half.
A extra practical option to “double” is to stack outcomes: add new contributions, reinvest distributions, and purpose for sturdy multi-year compounding so the account worth grows sooner than what you deposit. If you happen to nonetheless desire a shot at sooner progress, you want a enterprise with actual earnings energy and a catalyst that may present up in quarterly numbers.
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GSY
This inventory speaks for itself. goeasy (TSX:GSY) is a non-prime shopper lender. It offers installment loans and associated monetary providers to Canadians who don’t at all times qualify for conventional financial institution credit score. It operates by means of well-known manufacturers and has constructed a repeatable mannequin: develop the mortgage ebook, worth for danger, handle losses, and preserve working prices tight. The dividend inventory has earned a progress status because it has traditionally scaled earnings and dividends on the identical time.
During the last yr, the most important story has been the stability between progress and credit score high quality. Because the economic system stays bumpy and shoppers really feel stretched, buyers are likely to zoom in on web charge-offs, delinquency developments, and mortgage yield. goeasy leaned into secured lending progress and ongoing underwriting tweaks to maintain losses inside its focused vary whereas nonetheless rising the portfolio.
The opposite key “information” theme has been that goeasy retains enjoying offence, not defence. The dividend inventory continued increasing its mortgage portfolio, rising its buyer base, and positioning itself for longer-term scale. All whereas nonetheless returning capital by means of a significant dividend. That mixture usually attracts TFSA buyers who need progress potential however nonetheless like getting paid whereas they wait.
Earnings help
On earnings and working efficiency, the dividend inventory’s latest outcomes present why the market nonetheless treats it like a progress title. Within the third quarter of 2025, it reported income of $440 million, up 15% yr over yr, and mortgage progress of $336 million, up 32%. The buyer mortgage portfolio reached $5.4 billion, up 24% from the prior yr’s quarter. These are huge numbers as a result of they present the engine nonetheless runs, even in a more durable credit score backdrop.
The credit score line issues simply as a lot as the expansion line. In the identical interval, goeasy famous its web charge-off price declined yr over yr and stayed inside its outlook vary for the quarter. That could be a key element, as a result of the quickest means for a lender’s progress story to interrupt is for credit score losses to spike on the fallacious time. The dividend inventory additionally reported effectivity enhancements over the primary 9 months of 2025, which helps the concept that scale remains to be serving to margins.
For valuation, goeasy usually seems cheaper than folks anticipate for a long-time compounder, as a result of the market retains an in depth eye on shopper credit score danger. It not too long ago traded at simply 8.6 occasions earnings with a dividend yield at 4.8%. That’s not a promise of upside, nevertheless it does imply you aren’t paying a sky-high a number of for progress. The massive debate is whether or not the market is being too cautious about credit score, or appropriately cautious. In the meantime, right here’s what must occur to show that $7,000 into $14,000 in a yr, together with dividends.
| COMPANY | RECENT PRICE | SHARE INCREASE | NUMBER OF SHARES | ANNUAL DIVIDEND | ANNUAL TOTAL PAYOUT | FREQUENCY | TOTAL INVESTMENT | YEAR END TOTAL |
|---|---|---|---|---|---|---|---|---|
| GSY | $118.20 | $231 | 59 | $5.84 | $344.56 | Quarterly | $6,973.80 | $13,973.56 |
Backside line
So may goeasy be the one inventory that doubles a TFSA annual contribution? It may, however that isn’t the easiest way to consider it. The higher query is whether or not it could actually compound strongly sufficient over a few years to make your TFSA really feel like it’s accelerating. goeasy can ship that type of final result if mortgage progress stays wholesome, losses stay managed, and earnings preserve scaling. It could additionally disappoint if unemployment rises, credit score losses widen, or regulators tighten guidelines in ways in which stress pricing and progress. In order for you a practical “double,” you purchase it for multi-year compounding, not for a one-year miracle.