ASX share prices are always changing, which means investors have the opportunity to buy and sell at different times.
When share prices are at their cheapest, those low valuations often coincide with the market becoming afraid of something that’s developing negatively like a pandemic or inflation.
As Warren Buffett once said:
Be fearful when others are greedy and greedy when others are fearful.
Below are two picks I’m optimistic about for the long-term and feeling greedy for this week.
Sigma Healthcare Ltd (ASX: SIG)
Sigma’s key business is Chemist Warehouse, the leader in Australia. Most of its earnings are generated in Australia and it provides a range of essential products.
It’s clear that the business is growing rapidly, with the FY26 half-year result showing pleasing growth. Total revenue rose 14.9% to $5.5 billion, normalised operating profit (EBIT) climbed 18.7% to $582.9 million and normalised net profit grew 19.2% to $392 million.
Australian Chemist Warehouse-branded store sales increased 17.2% and Sigma reported that international growth accelerated, with retail network sales growth of 24.5%. This could become a larger part of the ASX share in the coming years.
I’m expecting Sigman Healthcare to continue growing its international network â in the second half of FY26 alone it’s planning to open 11 new stores, with growth concentrated in New Zealand and Ireland. There are plenty of other countries that could be appealing growth locations.
I also like that the business is growing its sales of owned and exclusive products, giving the business a stronger economic moat. Further expanding the ranges will give the business a larger total addressable market.
Its ongoing scaling should help with profit margins, while impressive mid-teen like-for-like sales at Chemist Warehouse are a strong driver of the bottom line.
According to Commsec, at the time of writing, the Sigma Healthcare share price is valued at 45x FY26’s estimated earnings.
TechnologyOne Ltd (ASX: TNE)
I think TechnologyOne is one of the most defensive technology businesses on the ASX because of how it provides integral operations software to clients like governments, councils, companies, universities and so on. They need this software to operate, even if global economic growth is slowing.
The business invests heavily (around 25% of revenue each year) to develop existing and new software to be as good as it can be for subscribers. That’s one of the main reasons why it expects its revenue from the existing client base to grow by at least 15% per year. At that pace, its revenue will double in size every five years.
Another reason I’m optimistic about the ASX share is that it’s seeking to grow in the UK, which could be just as rewarding as the Australian market. It recently won two important councils in London, which bodes well for future wins around the UK.
Management expects its growing scale to lead to rising profit margins, a pleasing prospect when combined with growing revenue. It’s aiming for $1 billion of annual recurring revenue (ARR) by FY30.
The valuation looks appealing to me, with the TechnologyOne share price trading at 54x FY26’s estimated earnings (at the time of writing), according to the forecast on Commsec.
The post 2 top ASX shares I’d buy today amid falling prices appeared first on The Motley Fool Australia.
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* Returns as of 20 Feb 2026
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Motley Fool contributor Tristan Harrison has positions in Technology One. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Technology One. The Motley Fool Australia has recommended Technology One. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.