Australia’s best-performing company is revealed – after its share price doubled during the last financial year

The share price of Australia’s best performing company doubled in the last financial year despite the cost of living crisis.

Pro Medicus, a provider of medical imaging software, was by far the highest-profile listing on the Australian Securities Exchange in 2023-2024.

Investors have more than doubled their money over the past year, and have increased it 7.9 times since the start of the pandemic four years ago.

Ten years ago, the stock price was only worth 95 cents. That means a $1,000 investment in July 2014 would now be worth $136,220.

Pro Medicus’ share price rose 118.3 percent to $143.26 during the last financial year.

By comparison, the broader S&P/ASX200 rose just 7.8 percent, while Australian house prices rose 8.4 percent.

Steven Daghlian, market analyst at CommSec, said Pro Medicus, which posted a profit of $60.6 million in 2023, has consistently performed well thanks to new contracts for hospitals, radiology companies and medical centers.

“Last year it was mainly contract wins, financial results and growth in the US,” he told Daily Mail Australia.

‘What sets Pro Medicus apart from other stocks we’ve seen in the top five is how consistent its share price increases have been.’

Pro Medicus has been one of Australia’s best performing companies since the start of the pandemic, with its share price soaring more than 679 per cent from $16.62 in March 2020 to $129.41 on Friday morning.

That means that $1,000 you invested just over four years ago would now be worth more than $7,790.

But $1,000 invested in July 2014 would now be worth $136,220, while the stock price has risen a whopping 13,522 percent in ten years.

An investment of $100,000 ten years ago would be worth $13.622 million today.

The company was co-founded in 1983 by Melbourne physician Sam Hupert, who saw the potential of computers in medicine.

Dr. Hupert served as CEO twice, from 1983 to 2007 and again since 2010.

Pro Medicus was one of two Australian companies whose share price doubled.

Pro Medicus, a provider of medical imaging software, was by far the standout performer on the Australian Securities Exchange in 2023-2024

Life360, a family member tracking app, was the only other ASX-listed company to see its share price double, rising 115.4 per cent to $16.37.

“It’s a location tracking app. I would say it’s more women monitoring their husbands than the other way around.‘ said Mr. Daghlian.

Shares in Australian gold producer Red5 rose 89.5 percent to 36 cents.

Another gold producer, West African Resources, saw its share price rise 86.1 percent to $1.61.

The price of gold rose by more than 20 percent last year. Investors see gold as a hedge against high global inflation.

“That’s exactly part of it,” Mr. Daghlian said.

Shares in Australian software company Altium rose 84.3 percent to $68.03.

Technology stocks outperformed the broader Australian stock market, rising 28 percent, similar to the U.S. tech-focused Nasdaq index.