The Australian share market has historically provided investors with an average annual return in the region of 10%.
Not all shares rise in line with the market. Some underperform and some outperform. And then sometimes there are ASX shares that go even further and not just double in value, but more than triple in value.
Three ASX shares that have accomplished this over the past 12 months are listed below. Here’s why they have smashed the market:
4DMedical Ltd (ASX: 4DX)
The 4DMedical share price is up an incredible 670% since this time last year. This has been driven by the medical technology company gaining US FDA approval for its non-contrast computed tomography (CT) ventilation and perfusion imaging solution, CT:VQ.
In addition, it revealed a significant expansion of its distribution agreement with Koninklijke Philips (NYSE: PHG) and announced several contract wins with healthcare institutions. The company has even managed to raise $150 million via an institutional placement during this time. That would have been unthinkable 12 months ago when its market capitalisation was a fraction of what it is today.
DroneShield Ltd (ASX: DRO)
The DroneShield share price is up 530% over the past 12 months.
Investors have been scrambling to buy this counterdrone technology company’s shares after it won a series of lucrative contracts. This includes a $49.6 million contract from an in-region European reseller that is contractually required to distribute the products to a European military end-customer.
In addition, with Western nations committing to large increases in defence spending, geopolitical tensions rising, and favourable changes to modern warfare, investors appear to believe that the contracts could continue to roll in for DroneShield this year.
Liontown Ltd (ASX: LTR)
The Liontown share price is up 204% since this time last year. Investors have been buying the lithium miner’s shares after the price of the battery making ingredient rebounded strongly.
A year ago, Liontown was operating with unit costs that were barely breaking even. However, this looks likely to be very different in 2026 with prices surging and costs coming down thanks to its underground mining.
The company’s CEO, Tony Ottaviano, said: “We’ve laid the foundations through FY25 and the early part of FY26. The focus from here is on continued execution, cost discipline, and unlocking the full performance of the Kathleen Valley operation.”
The post Why 4DMedical and these ASX shares are up 200%+ in just a year appeared first on The Motley Fool Australia.
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* Returns as of 1 Jan 2026
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More reading
- 4DMedical shares crash 20% this week: Should investors cut their losses on the once-booming stock?
- These 2 ASX All Ords shares tripled in value last year. Can they keep going?
- Here are the top 10 ASX 200 shares today
- Should you buy DroneShield, Westpac, and BHP shares?
- Why 4DMedical, ARB, Inghams, and Qoria shares are tumbling today
Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended DroneShield. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
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