3 ASX shares that have doubled in the last year and could keep climbing

Doubling your money in a year is the kind of result most investors only dream about.

Yet three ASX-listed companies have done exactly that over the past twelve months, each driven by powerful tailwinds that may continue providing.

The question for investors today is whether the best is behind them or whether three is still room for growth.

Electro Optic Systems Holdings Ltd (ASX: EOS)

Few ASX stocks have had a more dramatic twelve months than Electro Optic Systems Holdings.

The defence and space technology company has risen more than 450% over the past year, transforming from a little-known ASX all-ords stock into one of the most talked-about names in Australian defence investing.

EOS develops and manufactures remote weapon systems, high energy laser weapons, and counter-drone solutions for governments and defence forces around the world.

The company signed $424 million worth of contracts during FY2025, compared to just $70 million in FY2024, including a $125 million high energy laser weapon export contract that was the world’s first of its kind.

In Q1 2026, EOS reported cash receipts of $72.6 million, up $49.9 million on the same period a year earlier.

The company’s combined order book now sits at $726 million, and its pending acquisition of the MARSS group business adds a further dimension to its counter-drone capability.

Bell Potter retains a buy rating on the stock, stating:

EOS is positioned as a market leader in C-UAS solutions, particularly in directed energy, and is leveraged to increasing budget allocations to C-UAS technologies. Through both its kinetic and directed energy solutions, EOS has a long runway for growth.

Cobram Estate Olives Ltd (ASX: CBO)

Cobram Estate Olives is not the kind of stock you expect to find in a list of the ASX’s biggest annual performers.

Yet the premium olive oil producer has risen more than 100% over the past twelve months, as a combination of record harvests, surging global olive oil prices, and a transformative US acquisition reshaped the investment case.

Cobram owns the Cobram Estate and Red Island brands, which together account for approximately half of the olive oil market share in Australian supermarkets by value.

The company is also Australia’s largest vertically integrated olive farmer, operating extensive groves and mills in both Victoria and California.

In December 2025, Cobram shares surged 17% in a single session after Ord Minnett upgraded its recommendation to buy following the announced acquisition of California Olive Ranch, describing the deal as 9% EPS accretive from FY2027 and a major step toward scaling the company’s US business.

The acquisition expands Cobram’s US footprint significantly, with a 27% increase in olive oil supply and a combined brand portfolio that positions it as one of the largest premium olive oil companies in the United States.

Cobram’s earnings have grown at an average annual rate of 30.6% over the past five years, well ahead of the broader food sector, and revenue has grown at an average of 14.5% per year over the same period.

The FY2026 full-year result is due in August 2026, and management has guided that the second half will be materially positive, driven by the recognition of fair value adjustments from the Australian harvest.

Weebit Nano Ltd (ASX: WBT)

Weebit Nano is the most speculative of the three stocks in this article, but also the one with arguably the most transformative potential.

The Adelaide-based semiconductor company has risen more than 310% over the past twelve months, hitting its highest share price since 2023 this week as a series of major commercial milestones accelerated investor interest.

Weebit develops and licenses Resistive Random-Access Memory technology, known as ReRAM, a next-generation semiconductor memory solution that is faster, more energy efficient, and more reliable than traditional Flash memory.

The technology addresses a growing bottleneck in AI, IoT, automotive, and industrial applications where traditional memory cannot keep pace with processing demands.

In May 2026, two of Weebit’s product customers successfully taped out chip designs using its ReRAM module, meaning those designs have been released to manufacturing.

One customer has already produced a functional prototype.

This represents one of three key 2026 targets Weebit set at its 2025 Annual General Meeting, and its achievement has materially de-risked the commercialisation pathway.

The company completed a strongly supported $102 million capital raise in May, with institutional and retail investors backing the business at $4.05 per share, a strong signal of market confidence in the technology roadmap.

Weebit’s licensing model, which generates high-margin royalty revenue without the overhead of physical manufacturing, means that as more chip designers adopt its ReRAM module, the revenue potential scales rapidly with limited incremental cost.

Foolish takeaway

EOS, Cobram Estate, and Weebit Nano have each doubled or more from very different starting points and for very different reasons.

EOS rides the global defence spending wave.

Cobram capitalises on the shift toward premium olive oil consumption and expanding US scale.

Weebit sits at the frontier of next-generation semiconductor memory at precisely the moment AI is creating insatiable demand for better, faster, and more efficient memory solutions.

All three carry meaningful risks, and none is suitable for investors who cannot tolerate volatility.

But for those with a long-time horizon and an appetite for high-conviction ideas, all three deserve serious attention.

The post 3 ASX shares that have doubled in the last year and could keep climbing appeared first on The Motley Fool Australia.

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• Up 300% in a year, this ASX tech stock just hit its highest level since 2023
• Here’s why this ASX defence stock is charging higher today
• Why EOS, Newmont, Webjet, and WIA Gold shares are tumbling today

Motley Fool contributor Mark Verhoeven 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 Electro Optic Systems. 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.