These 2 great ASX shares are bargain buys!

When share prices of great ASX shares fall, I view them as unmissable buying opportunities.

When a cyclical business like a miner or retailer falls, it can be difficult to know when it’s a good time to buy – I’d only want to invest when the share price seems to be at around the lowest point of an economic cycle. That should give investors a large margin of safety for good returns.

But, businesses that are consistently growing could be good buys today because it’s clear the forward price/earnings (P/E) ratio has declined to a more appealing number.

The two businesses I’ll highlight below are both trading at valuations that are far too cheap while delivering rapid underlying growth.

REA Group Ltd (ASX: REA)

REA Group is the owner of realestate.com.au, realcommercial.com.au, property.com.au, Mortgage Choice, PropTrack and other Australian-based property businesses. It also has investments in property-related businesses in India, the US and Canada.

As the chart below shows, the REA Group share price is down by almost 30% from August 2025.

I think this is a great opportunity to buy one of the best ASX shares that has built a very strong economic moat and a cash flow cow.

Its strong market position, with regular new features for property vendors, has allowed it to charge a sizeable amount to advertise a property on the portal.

The business has a clear advantage compared to its main rival. Realestate.com.au saw 147.9 million average monthly visits during the first quarter of FY26, 111.4 million more monthly visits on average than the nearest competitor.

That FY26 first quarter saw the business deliver 4% higher revenue, 5% higher operating profit (EBITDA) and 16% higher cash flow, despite there being an 8% decline in national buy listings.

With additional properties being built in Australia every year, REA Group’s total addressable market is increasing and I think this ASX share is an effective way to profit from the residential sector without having to own a property.

Using the projections on CMC Markets, the REA Group share price is valued at 38x FY26’s estimated earnings and less than 33x FY27’s estimated earnings.

Bailador Technology Investments Ltd (ASX: BTI)

Bailador describes itself as a growth capital fund that’s “focused on the information technology sector which is actively managed by an experienced team with demonstrated sector experience.”

The company provides exposure to a portfolio of IT companies with global addressable markets. These companies also have the ability to generate repeat revenue, have a proven business model with attractive unit economics, have international revenue generation potential and are founder-led.

Some of the areas that it looks to invest in are: software as a service (SaaS) and other subscription-based internet businesses, online marketplaces, software, e-commerce, high value data, online education and tech-enabled services.

Companies that it’s invested in include Siteminder Ltd (ASX: SDR), DASH, Updoc, Access Telehealth, Expedition Software, Rosterfy, PropHero and Hapana.

In FY25, Bailador’s companies delivered combined portfolio revenue of $592 million, with revenue growth of 47% over the prior 12 months. That’s an excellent revenue growth rate, in my view, and should help push the underlying value of these businesses higher as they continue to grow.

It’s trading at a large discount to its underlying value. Bailador said its pre-tax net tangible assets (NTA) – the portfolio value essentially – was $1.91 per share at November 2025. The Bailador share price is trading at a discount of close to 40%, at the time of writing, which is huge. The post-tax NTA discount is around 30%.

Considering the track record of Bailador and its underlying businesses, I think it’s trading far too cheaply.

The post These 2 great ASX shares are bargain buys! appeared first on The Motley Fool Australia.

More reading

• How much upside does Macquarie tip for REA Group shares?
• Opportunity knocks? Broker ratings on 4 ASX shares at 52-week lows
• Broker tips 30% upside for this ASX 200 stock
• 3 buy-rated ASX 300 shares at 52-week lows
• 3 Australian shares to buy and hold for 20 more years

Motley Fool contributor Tristan Harrison has positions in Bailador Technology Investments and SiteMinder. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Bailador Technology Investments and SiteMinder. The Motley Fool Australia has positions in and has recommended SiteMinder. The Motley Fool Australia has recommended Bailador Technology Investments. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.