Growth is the first benchmark to look for as you go through the process of selecting a stock to buy. If the company you're researching doesn't have a solid history of earnings growth, consider it a candidate for speculation, not investment. A company may increase its sales year after year, but unless it also consistently demonstrates its ability to convert those revenues into earnings (or profits), you can't be sure the company will ever figure out how to make a buck.
Once you've identified that a company is growing at a reasonable rate and should continue to do so in the foreseeable future, you'll want to make sure it is built upon a stable foundation of quality. Besides being able to grow its sales, the company has to be able to generate sufficient profits from those sales, and in addition, provide a sufficient return for its investors. Well-run companies that consistently achieve these two goals will outperform their peers.