Shocking declines: Australian shares that disappointed investors in 2025

As 2025 draws to a close, Australian investors are taking stock of a year that delivered mixed outcomes across the share market.

If your portfolio was overweight in gold or silver, you likely outperformed the S&P/ASX 200 Index (ASX: XJO), which has risen 6.3% for the year (before dividends), as of New Year’s Eve.

But not all investors have shared in that upside. Particularly with some of the Australian share market’s most widely held and well-regarded companies suffering steep declines, badly underperforming the broader index.

Unless there is a miraculous recovery before the market close, here are four prominent Australian shares that disappointed investors in 2025.

CSL Ltd (ASX: CSL)

CSL entered 2025 as one of the ASX’s most trusted blue chips, but it proved to be a difficult year for shareholders.

At the time of writing, CSL shares are down 39% year to date. This is a sharp reversal for a company that has long been viewed as a defensive growth stalwart. Investor sentiment has been weighed down by a slower-than-expected margin recovery from CSL Behring, weak influenza vaccination demand, and government measures in China reducing demand for albumin.

Despite its long-term track record, CSL’s 2025 performance highlights how even high-quality healthcare leaders are not immune to sell-offs.

James Hardie Industries plc (ASX: JHX)

James Hardie shares have also struggled in 2025, falling 38% over the year.

The building products group has been caught in a challenging global construction environment, particularly in North America, where higher interest rates have dampened housing activity. Rising costs and uncertainty around demand have made investors more cautious, despite James Hardie’s strong market position and brand strength.

The result has been a year of sustained share price weakness, even as the broader market moved higher.

Treasury Wine Estates Ltd (ASX: TWE)

Treasury Wine Estates has been one of the hardest-hit large caps in 2025, with its shares down a staggering 53% year to date.

The wine producer has faced a combination of softer demand, inventory challenges, and ongoing strategic uncertainty. While management has been working through these issues, investors have shown little patience, marking the shares sharply lower as confidence in near-term earnings faded.

Treasury Wine’s performance arguably stands out as one of the most painful declines among well-known Australian consumer brands this year.

WiseTech Global Ltd (ASX: WTC)

WiseTech Global, long considered one of the ASX’s premier growth success stories, has uncharacteristically disappointed investors in 2025.

Its shares are down 45% for the year as founder controversies, insider trading allegations, product launch delays, business model changes, and softer-than-expected growth hit investor sentiment.

While WiseTech continues to operate a high-quality global logistics software platform, it seems that the market has been far less willing to pay up for growth in the current environment.

The post Shocking declines: Australian shares that disappointed investors in 2025 appeared first on The Motley Fool Australia.

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Motley Fool contributor Grace Alvino has positions in CSL. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended CSL, Treasury Wine Estates, and WiseTech Global. The Motley Fool Australia has positions in and has recommended Treasury Wine Estates and WiseTech Global. The Motley Fool Australia has recommended CSL. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.