Top 10 ASX growth shares to watch in August 2025
These 10 ASX growth shares delivered returns between 9% and 306% in just three months. Get the market caps, P/E ratios, and key catalysts driving each stock's performance, plus learn how to trade them through IG AU.
Important to know
This article is for informational purposes only and does not constitute investment or trading advice. Please ensure you understand the risks and consider your individual circumstances before trading.
Key takeaways
- These 10 ASX growth shares gained 9%-306% in three months, led by DroneShield's 306% surge and Mineral Resources' 108% jump
- Tech and defence sectors dominated performance, with data centres (NEXTDC, Goodman) and AI-powered solutions driving growth
- All of these shares are available for both CFD and direct share trading through IG
What are ASX growth shares?
ASX growth shares are companies that reinvest profits to fuel rapid expansion rather than pay dividends. The 10 stocks in this article prove the point - they've delivered returns between 9% and 306% in just three months.
These companies typically trade at high price-to-earning (P/E) ratios because investors pay a premium for future growth. For example, NEXTDC trades at a P/E of 500, while Pro Medicus sits at 349 - both reflecting expectations of continued expansion.
The top ASX growth shares often dominate niche markets through proprietary technology. This is true in the case of Cochlear's hearing implants, WiseTech's logistics software used in 130+ countries, or DroneShield's AI-powered drone detection systems.
The trade-off? Growth stocks can fall as fast as they rise. Miss quarterly expectations by even a small margin, and share prices can tumble rapidly.
What are the advantages and disadvantages?
The stocks featured in this article exemplify the volatility inherent in growth shares. Take DroneShield, for instance, which experienced a remarkable 306% surge in just three months. In contrast, even reliable performers like CSL achieved a more modest 9% gain, highlighting the diverse range of outcomes within this investment category.
Growth shares occupy a middle ground between high-risk penny stocks and the more stable blue-chip dividend stocks. They offer the potential for substantial gains without the extreme volatility of speculative plays.
However, the risk lies in the fact that these companies typically reinvest profits rather than distribute dividends, meaning investors rely solely on share price appreciation. Failure to meet growth targets can result in share prices falling as dramatically as they rise.
Savvy traders diversify their portfolios across multiple growth stocks and sectors. Our selection includes tech companies like Xero and WiseTech, healthcare leaders such as Cochlear and CSL, mining giants like Mineral Resources, and defense firms like DroneShield, thereby spreading risk across various growth drivers.
The reward potential is clear: even our "slowest" performer delivered 9% in three months, while the top performers delivered substantial returns.
What makes ASX growth shares special right now?
Several powerful catalysts are driving exceptional ASX growth share performance in 2025, with our featured stocks gaining 9%-306% in just three months.
- AI and data infrastructure boom: NEXTDC (41% gain) and Goodman Group (33% gain) are benefiting from Australia's data centre expansion as AI demand explodes globally.
- Defence spending surge: geopolitical tensions have supercharged defence stocks, with DroneShield rocketing 306% as governments worldwide invest in counter-drone technology.
- Healthcare innovation: Cochlear (24% gain) and CSL (9% gain) continue expanding globally, with Cochlear expecting 10% implant sales growth and CSL rolling out new plasma systems across 220 centres.
- Resources resilience: Mineral Resources jumped 108% as lithium and iron ore demand remains strong, particularly from battery and infrastructure projects.
Australia's stable regulatory environment and strong mining/tech sectors provide a perfect launchpad for these growth stories to unfold.
Top 10 ASX growth shares to watch in August 2025
From DroneShield's 306% surge to CSL's steady 9% climb, these 10 stocks delivered exceptional returns between April and July 2025. Here's what each company offers and why traders are paying attention.
Our selection criteria
- Performance: 9%-306% gains in three months (April-July 2025)
- Growth focus: profits reinvested in R&D and expansion, not dividends
- Sector diversity: tech, healthcare, mining, defence and fintech coverage
Past performance doesn't guarantee future returns - all investments and trades carry risk.
Overview of the ASX growth shares in this article
You can trade all of the shares listed in this article via CFDs through our platform, and also directly buy and sell all of them via our share trading platform.
Company |
Market cap |
P/E ratio |
Highlight |
Trade the share CFD with us? |
Share trade the stock with us? |
A$9.12 billion |
500 |
Australia's leading Tier‑III and IV data centre operator |
✓ |
✓ |
|
A$34.26 billion |
349.17 |
A$20 million five-year deal with the University of Iowa |
✓ |
✓ |
|
A$38.31 billion |
124.40 |
Flagship CargoWise platform used in 130+ countries |
✓ |
✓ |
|
A$29.79 billion |
133.68 |
Operates in Australia, New Zealand, the UK, South Africa, Canada, the US and Singapore |
✓ |
✓ |
|
A$124.63 billion |
30.05 |
Plasma therapies, vaccines, and gene and cell therapy innovations |
✓ |
✓ |
|
A$83.11 billion |
23.31 |
Australia’s largest investment bank and asset manager |
✓ |
✓ |
|
A$71.03 billion |
73.92 |
Global leader in developing industrial real estate and hyperscale data centres |
✓ |
✓ |
|
A$20.29 billion |
54.99 |
Leading global hearing implant company |
✓ |
✓ |
|
A$3 billion |
43.28 |
AI‑powered hardware and software to detect, track and neutralise drone threats |
✓ |
✓ |
|
A$5.67 billion |
32.64 |
Operates in lithium and iron ore across Western Australia |
✓ |
✓ |
1. NEXTDC Ltd (ASX: NXT)
Industry: technology
Market cap: A$9.12 billion1
P/E ratio: 5002
As Australia's leading Tier‑III and IV data centre operator, NEXTDC services global hyperscalers, cloud providers and AI-native enterprises.
The company is heavily investing in sustainability initiatives by building an energy-efficient platform, and it offers its customers the option to offset the carbon footprint of their digital infrastructure through its NEXTneutral initiative.
Highlights:
- As of 21 July 2025, the share price has grown by 41.63% since early April 2025
- 1H25 results indicate net revenue up by A$18.7 million3
- Invested A$1.003 million to further capital development projects in 1H254
2. Pro Medicus Ltd (ASX: PME)
Industry: medical
Market cap: A$34.26 billion5
P/E ratio: 349.176
Pro Medicus provides medical imaging software, servicing hospitals, imaging centres and healthcare groups globally.
The company recently (May 2025) announced a lucrative A$20 million five-year deal with the University of Iowa to roll out its Visage product across campuses, opening up a massive US market for the Australian business.
Highlights:
- From early April 2025 to 21 July 2025, the share price grew 81.77%
- Its latest interim report indicated underlying profit before tax grew 42.9%7
- It grew North American revenue by 34.6%8
3. WiseTech Global Limited (ASX: WTC)
Industry: logistics software/software-as-a-service (SaaS)
Market cap: A$38.31 billion9
P/E ratio: 124.4010
WiseTech is most well-known for its CargoWise platform, used by major freight forwarders, customs authorities and shippers in over 130 countries. These include territories in Asia, the Americas and Europe.
It recently acquired e2open, an NYSE-listed company in SaaS solutions for the global logistics industry. This extends WiseTech’s offering in domestic logistics, carrier integration, and global trade and supply chain management.
Highlights:
- The share price has rocketed 56.90% since early April to 21 July 2025
- 1H25 results show total revenue of US$381 million, up 17% on H12411
- EBITDA of $192.3 million12
4. Xero Ltd (ASX: XRO)
Industry: fintech/SaaS
Market cap: A$29.79 billion13
P/E ratio: 133.6814
As an accounting software of choice for small-to-medium businesses in Australia, New Zealand and the UK, Xero helps the little guy manage finances and operations. Its cloud-based platform automates various accounting procedures, such as invoicing, bank reconciliation and more.
It also operates in South Africa, Singapore, Canada and the US.
It’s seen a decent escalation in its share price, having been at A$142.26 on 7 April 2025 and at A$179.76 on 21 July 2025. In between, it reached a high of A$194.21.
Highlights:
- 26.36% growth of share price from early April 2025 to 21 July 2025
- A rule-of-40 score of 44.3%.15 This metric determines how well SaaS businesses should perform. Anything over 40% is good
- Adjusted EBIDTA of NZ$641 million16
5. CSL Ltd (ASX: CSL)
Industry: biopharmaceuticals
Market cap: A$124.63 billion17
P/E ratio: 30.0518
CSL is known for its plasma therapies, vaccines, and gene and cell therapy innovations. It continues to invest heavily in R&D, which uses a substantial portion of its profits to drive future growth.
Its research includes plasma protein and recombinant tech and therapeutics (eg haematology and immunology).
The company is split into different sections: CSL Behring, CSL Seqirus and CSL Vifor, which treat rare diseases, develop vaccines, and deal with iron deficiency and nephrological diseases, respectively.
Its most recent half-year results show strong growth for all divisions of the business.
Highlights:
- The share price has grown by 9.28% from 9 April 2025 to 21 July 2025, although it has seen a fair share of volatility in the past three months
- CSL Behring’s Rika plasma donation system successfully rolled out to 220 centres, with a full US roll-out expected by the end of 202519
6. Macquarie Group Ltd (ASX: MQG)
Industry: finance
Market cap: A$83.11 billion20
P/E ratio: 23.3121
Macquarie is Australia’s largest investment bank and asset manager, and has diversified exposure to global markets, such as green energy, commodities and more. It has A$941 billion in assets under management.22
Its current primary focus is on investing in clean energy and upgrading its digital infrastructure.
It reported an FY25 net profit of A$3.715 million, up 5% on FY24 in its latest earnings release, indicating solid growth for the company.23
Highlights:
- Its share price has increased 29.91% from early April 2025 to 21 July 2025
- International income made up 66% of total income24
- Net operating income of A$17.208 million was up 2% on FY2425
7. Goodman Group (ASX: GMG)
Industry: industrial property/data centres
Market cap: A$71.03 billion26
P/E ratio: 73.9227
Goodman Group is a global leader in developing industrial real estate and hyperscale data centres. It has a solid development pipeline across Europe, North America, Japan and China.
Its diversification between real estate and data centres points to short- and long-term earnings growth, with recurring rent income and its key AI infrastructure enablers.
Highlights:
- The share price grew 33.06% between early April 2025 and 21 July 2025
- Its most recent earnings release indicates an annual increase in net property income of 13.5%28
- It has a strong balance sheet, with net tangible assets of 202.2 cents per unit and a loan-to-value ratio of 31.8%29
8. Cochlear Ltd (ASX: COH)
Industry: medical
Market cap: A$20.29 billion30
P/E ratio: 54.9931
Through international expansion, Cochlear has shown strong growth in performance. As the leading global hearing implant company, it expects implant sales to grow by 10% this year still.32
The company also expects to help over 50,000 people for FY25 with their cochlear or acoustic implant products.
Due to the nature of the industry, there’s a high barrier to entry for smaller companies, so Cochlear is likely to continue its positive performance for the foreseeable future.
Highlights:
- The share price increased by 23.83% between early April 2025 and 21 July 2025
- In its latest earnings release, the company’s cochlear implant revenue grew by 13% in CC (this stands for ‘constant currency’, a method for isolating operational results from currency fluctuations)33
- Acoustics revenue increased by 22% in CC34
9. DroneShield Limited (ASX: DRO)
Industry: defence technology
Market cap: A$3 billion35
P/E ratio: 43.2836
DroneShield specialises in AI-powered hardware and software solutions designed to detect, track, and neutralise drone threats. Their technology serves crucial sectors such as national defense, law enforcement, and critical infrastructure, providing robust protection against potential drone-related risks.
It has clients in Ukraine, the US, Europe, Asia and Latin America.
DroneShield maintains a very low debt profile, enabling the company to channel profits into long-term strategic investments without heavy financial obligations.
The ongoing geopolitical instability in the Middle East and Eastern Europe continues to drive heightened demand for defence technology globally.
Highlights:
- The share price has soared a massive 306.67% from early April 2025 to 21 July 2025
- The counter-drone market is valued at over US$10 billion, presenting DroneShield with an up-and-coming opportunity37
- Q1 2025 revenue was A$33.5 million, up from Q1 2024’s A$16.6 million figure38
10. Mineral Resources Ltd (ASX: MIN)
Industry: mining
Market cap: A$5.67 billion39
P/E ratio: 32.6440
Mineral Resources is a diversified mining company, operating in lithium and iron ore across Western Australia. Its wholly owned subsidiary, CSI Mining Services, provides sustainable services supporting Mineral Resources projects and Tier 1 mining clients.
The company is also committed to improving sustainability in its business by lowering emissions and pursuing opportunities for natural gas to power its operations.
Its consistently solid returns and growth investment make this last share on our list one to watch.
Highlights:
- Its share price has seen a whopping 108.26% growth from early April 2025 to 21 July 2025
- Its latest quarterly activity report states that production volumes were 62 million tons41
How to trade ASX growth shares with IG Australia
CFDs
1. Open a CFD trading account with IG AU
2. Search for ASX growth shares on the IG platform
3. Decide whether to go long (buy) or short (sell)
4. Choose your position size
5. Set stop-loss and limit orders
6. Place your trade and monitor it
Share trading
1. Open a share trading account with IG AU
2. Search for ASX growth shares available for direct ownership
3. Choose the stock you want to buy
4. Determine how many shares you want to purchase
5. Place your order
6. Monitor your investment
FAQs about growth shares
What are the best performing ASX growth shares in 2025?
The top performing ASX growth shares in 2025 include DroneShield (306% gain), Mineral Resources (108% gain), WiseTech Global (57% gain), and NEXTDC (42% gain) over a three-month period from April to July 2025. Other strong performers include Goodman Group (33% gain) and Macquarie (30% gain).
How can I trade ASX growth shares with IG Australia?
You can trade ASX growth shares through CFD trading or direct share ownership via IG AU. You'll need to open either a CFD trading account or share trading account with IG AU.
Do ASX growth shares pay dividends?
Most ASX growth shares, including the companies in this list, typically don't pay dividends or pay minimal dividends. Instead, they reinvest profits into research and development, infrastructure expansion, and business growth to drive future share price appreciation.
What are the P/E ratios of top ASX growth shares?
ASX growth shares typically trade at high P/E ratios reflecting future growth expectations. Examples include NEXTDC (500), Pro Medicus (349.17), Xero (133.68), and WiseTech Global (124.40). More established companies like CSL (30.05) and Macquarie (23.31) trade at lower ratios.
What sectors are the top ASX growth shares in?
The featured ASX growth shares span diverse sectors including technology (NEXTDC, WiseTech), healthcare (CSL, Cochlear, Pro Medicus), fintech (Xero), mining (Mineral Resources), defence (DroneShield), finance (Macquarie), and industrial property/data centres (Goodman Group).
Are ASX growth shares suitable for beginners?
ASX growth shares are known for their volatility, presenting a higher risk but also the potential for significant rewards. For instance, DroneShield achieved a remarkable 306% gain, while CSL saw a more modest 9% increase over the same period. Beginners should understand the high-risk, high-reward nature and consider diversifying across multiple growth shares and sectors.
Footnotes
- TradingView, July 2025
- The Motley Fool, July 2025
- NEXTDC earnings results, February 2025
- NEXTDC earnings results, February 2025
- TradingView, July 2025
- The Motley Fool, July 2025
- Pro Medicus interim results, February 2025
- Pro Medicus interim results, February 2025
- TradingView, July 2025
- TradingView, July 2025
- WiseTech earnings results, February 2025
- WiseTech earnings results, February 2025
- TradingView, July 2025
- TradingView, July 2025
- Xero earnings results, May 2025
- Xero earnings results, May 2025
- TradingView, July 2025
- TradingView, July 2025
- CSL earnings results, February 2025
- TradingView, July 2025
- TradingView, July 2025
- Macquarie, July 2025
- Macquarie earnings release, May 2025
- Macquarie earnings release, May 2025
- Macquarie earnings release, May 2025
- TradingView, July 2025
- TradingView, July 2025
- Goodman Group earnings release, May 2025
- Goodman Group earnings release, May 2025
- TradingView, July 2025
- TradingView, July 2025
- Stocks Down Under, June 2025
- Cochlear earnings results, February 2025
- Cochlear earnings results, February 2025
- TradingView, July 2025
- The Motley Fool, July 2025
- DroneShield earnings results, March 2025
- DroneShield earnings results, March 2025
- TradingView, July 2025
- The Motley Fool, July 2025
- Mineral Resources activity report, March 2025
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