Top Australian Ten-Bagger Stocks:

There are currently 19 ten-baggers – stocks that have achieved 10-fold returns in 10 years – listed on the ASX, including Pilbara Minerals, Liontown Resources, and Pro Medicus. Investors are more likely to find ten-baggers among large ASX firms compared to the FTSE 350 or the S&P 500, which has 21 ten-baggers. We analysed the returns of ASX companies with a market cap minimum of AUD $1 billion* and FTSE 350 firms from 2013 to 2023 to identify ten-bagger stocks, i.e., companies whose share prices have surged by a factor of 10 or more (+1,000 per cent) over 10 years. 

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Aussie Ten-Baggers

In Australia, 19 of the ASX stocks eToro analysed have served up +1,000 per cent returns from 2013 to 2023. Perhaps unsurprisingly, given the resource-heavy nature of the ASX, a majority of the AU ten-baggers are mining stocks, with names such as Pilbara Minerals (35,330 per cent), Liontown Resources (18,040 per cent), and Bellevue Gold (5,210 per cent) making the list.

Lithium-tantalum producer Pilbara Minerals has had a volatile year, with lithium prices dropping by approximately 85 per cent in the past 18 months. However, the company’s recent quarterly results indicated strong operational performance, with revenue increasing by 58 per cent compared to the previous quarter. Battery Minerals producer Liontown Resources has also had a tough year, with its shares down 62 per cent since July 2023. However, huge share price gains in the past four years due to the rise in commodity prices over 2021-22 mean both stocks are still comfortably part of the ten-bagger club. 

One non-tech name on the AU ten-baggers list is leading imaging IT provider Pro Medicus (13,710 per cent). Its shares have increased more than 400 per cent in the past five years, one of the more recent drivers being its $140 million contract win with Baylor Scott & White.

AU Ten-Bagger Standouts

Here are some notable ASX ten-baggers from 2013 to 2023:

Past performance is not an indication of future results. *Table shows ASX ten-baggers 2013 to 2023

Global Comparison: FTSE and S&P 500

In the UK, just two companies make up the ten-bagger club, while the S&P 500 boasts 21 ten-baggers, largely from tech stocks like Nvidia and Tesla. The first, sports retailer JD Sports, saw its share price jump 1,039 per cent over the 10-year period. Fellow retailer Games Workshop meanwhile saw its value grow by 1,329 per cent. 

In the US, 21 of the current S&P 500 stocks are ten-baggers. Given the S&P 500’s tech-heavy nature, almost all of the US ten-baggers are tech stocks, with names such as Nvidia (12,265%), Tesla (2,378%), and Palo Alto Networks (1,439%) on the list. 

eToro Market Analyst Josh Gilbert commented: “Finding a ten-bagger is the holy grail for investors. Australia’s natural resources sector has historically driven these returns, but emerging sectors like AI and medical tech could be the next big opportunity. Psychological factors are also challenging. Riding a stock to a 1,000% gain without taking profit requires serious patience, belief in the business and a strong mentality.” 

Top five ten-baggers on the ASX

Past performance is not an indication of future results *Table shows ASX five-baggers from 2013 to 2023

Among the pool of companies eToro analysed, five-baggers are also more common in Australia than the UK. 11 Australian companies have returned 500-1,000% to shareholders over 10 years, with firms such as Aristocrat Leisure (870 per cent), Macquarie Technology Group (810 per cent) and Codan Ltd (800 per cent) featuring. In the UK, there are just four ´five-baggers’ whilst in the US, there are 34, with Netflix (826 per cent), Apple (861 per cent) and Lululemon (766 per cent) among them. 

Table shows FTSE 350 ten-baggers and five-baggers from 2013 to 2023

Past performance is not an indication of future results

Josh Gilbert adds: “Aside from the US, Australia leads the rest of the world when it comes to finding ten-baggers amongst its largest stocks. The natural resources sector has proven to be a honey pot for Australian miners, and many investors have reaped the rewards over the years. Commodity supercycles have helped drive these stocks, and it may not be the end of ten-baggers in Australia if we are to see another commodity cycle upswing. Outside of commodities, key themes such as AI, medical technology, cybersecurity, and electric vehicles are all early front runners, but we will continue to see more megatrends play out over the years ahead.    

“The pursuit of ten-bagger stocks will involve risk. Investors must conduct thorough due diligence and maintain a diversified portfolio. As the saying once goes, ‘Don’t look for the needle in the haystack, just buy the haystack’. ”

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