I think it’s a great idea to look at compelling ASX growth shares after their share price has heavily declined because the future price/earnings (P/E) ratio is typically much lower.
I’m not sure about you, but I’d much rather buy an ASX share when it’s trading at 40x FY27’s estimated earnings than 50x FY27’s estimated earnings. That’s a big difference!
Let’s look at two of the most appealing businesses on the ASX.
Siteminder Ltd (ASX: SDR)
This company is behind Siteminder software, a leading hotel distribution and revenue platform, as well as Little Hotelier, which is an all-in-one hotel management software that “makes the lives of small accommodation providers easier”.
Siteminder is a truly global business, with offices in Sydney, Bangkok, Barcelona, Berlin, Dallas, Galway, London, Manila, Mexico City and Pune.
Despite the ASX growth share’s impressive market position and its excellent growth rate, the market has sent the Siteminder share price down by 57% in the past six months.
The FY26 half-year result saw annualised recurring revenue (ARR) growth of 29.7% to $280.3 million.
Net property additions were 2,900 during the FY26 half-year result, taking the total properties to 53,000. It’s continuing its strategy of pursuing its larger hotel properties.
It said that average revenue per user (ARPU) increased by 11.3% to $435, with the growth driven by its smart platform initiative and rising product adoption.
The business is helping hotels generate the strongest levels of revenue from their available rooms throughout the year, including an offering that enables Siteminder to manage the room pricing for the subscriber.
It’s also generating rising profit margins as its revenue increases. For example in HY26, operating profit (adjusted EBITDA) more than doubled to $12.3 million.
The ASX growth share is priced at just 17x FY27’s estimated earnings.
Pro Medicus Ltd (ASX: PME)
Pro Medicus is the other ASX growth share I’ll highlight because of the much cheaper valuation and earnings growth rate it’s been achieving.
It describes itself as a leading healthcare informatics company with leading-edge medical imaging solutions. The ASX growth share offers a suite of radiology information systems (RIS), picture, archiving and communication systems (PACS), AI and e-health solutions.
The healthcare industry in North America and Europe is becoming increasingly digital and online, so Pro Medicus is well-placed to service this large and growing demand.
It has announced numerous contract wins over the last few years, including the recent five-year A$23 million contract with the University of Maryland Medical System and five-year A$37 million contract renewal with Northwestern Medicine.
Pro Medicus’ numerous contract wins helped the business make $124.8 million of revenue, up 28.4% year-over-year.
It has an incredibly high operating profit (EBIT) margin and it continues rising â in HY26, the underlying EBIT margin improved to 73%, up from 72%. This helped it grow underlying profit before tax by 29.7% to $90.7 million.
The Pro Medicus share price is down 57% since July 2025, as the chart below shows.
According to the forecast on Commsec, the Pro Medicus share price is valued at 76x FY27’s estimated earnings.
The post 2 ASX growth shares to buy now while they’re on sale appeared first on The Motley Fool Australia.
Should you invest $1,000 in Pro Medicus right now?
Before you buy Pro Medicus shares, consider this:
Motley Fool investing expert Scott Phillips just revealed what he believes are the 5 best stocks for investors to buy right now… and Pro Medicus wasn’t one of them.
The online investing service he’s run for over a decade, Motley Fool Share Advisor, has provided thousands of paying members with stock picks that have doubled, tripled or even more.*
And right now, Scott thinks there are 5 stocks that may be better buys…
* Returns as of 20 Feb 2026
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More reading
- Forget gold! Start hunting fallen ASX 200 shares to buy for an earlier retirement
- 4 ASX healthcare shares to buy as sector struggles: experts
- How I would invest $10,000 across ASX growth shares in May
- 10 excellent ASX shares to buy in May
- Why these ASX shares jumped 15%+ in April
Motley Fool contributor Tristan Harrison has positions in Pro Medicus and SiteMinder. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended SiteMinder. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has recommended Pro Medicus. The Motley Fool Australia has positions in and has recommended SiteMinder. The Motley Fool Australia has recommended Pro Medicus. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.