There are plenty of good shares on the ASX. But being a good share and being a good investment at today’s price aren’t necessarily the same thing.

That is something I think investors should keep in mind, particularly when looking at some of the market’s biggest and most popular names.

I’ve compared five ASX shares that have earned strong reputations over many years and each has qualities that could justify a place in a long-term portfolio.

The question is whether those qualities are already reflected in their share prices.

I’ve looked at their competitive positions, earnings outlooks, financial strength, and valuations before deciding which I would buy today and which I would rather leave on my watchlist.

Here’s what I found.

BHP Group Ltd (ASX: BHP)

I have no trouble seeing why BHP deserves its reputation as one of the best ASX mining shares.

Its copper operations are becoming increasingly important, and I think this is an excellent place to be positioned for the long term.

Copper is needed for everything from electricity networks and renewable energy to data centres and industrial equipment. Increasing demand, combined with the difficulty of developing major new mines, could support attractive prices over time.

BHP also has the assets, experience, and financial resources to invest in additional production without relying entirely on the success of a single project.

In FY 2026, copper overtook iron ore as its biggest earnings contributor, demonstrating how the business is changing.

My hesitation is the share price. After a rise of around 40% over the past 12 months, I think a lot of the good news is already reflected in BHP’s valuation. That leaves me seeing BHP shares as roughly fair value rather than an obvious bargain.

In light of this, I would prefer to wait for a pullback before considering a purchase.

And as I worked through the other four companies, I found myself reaching a similar conclusion with several of them. They are excellent businesses, but their share prices don’t necessarily offer enough value to make me want to buy today.

However, there was one exception. It is a company that I believe has a significant growth opportunity ahead of it, and unlike the others, its valuation still looks reasonable.

Of the five ASX shares I compared, it is the one I would be buying today.

Commonwealth Bank of Australia (ASX: CBA)

CBA is an outstanding bank. I don’t think many investors would seriously dispute that.

It has a strong market position, a huge deposit base, and a history of generating impressive returns for shareholders.

It also enjoys considerable support from retail investors, institutions, and superannuation funds, which helps explain why its shares have continued to command a premium to the other major banks.

For example, based on consensus estimates, CBA shares are trading at around 22 times FY 2027 earnings.

That is a demanding multiple for a mature bank, particularly with interest rates rising again. Higher rates could put pressure on borrowers, while competition for deposits and lending could weigh on margins.

I expect CBA to remain a great business. I just don’t see enough potential return to justify buying its shares today.

CSL Ltd (ASX: CSL)

CSL is a company I have enormous respect for and would happily own in a long-term portfolio.

It has built an outstanding global healthcare business, particularly in plasma therapies, where its scale and expertise give it a strong competitive position.

And despite its recent difficulties, I still believe CSL has a bright future ahead of it.

However, I think the best opportunity to buy this ASX share was when it was trading around $90 earlier this year.

At that price, investors were getting a high-quality business at a bargain valuation. Since then, CSL shares have more than doubled, and I think they now look fairly valued.

There is also still some uncertainty surrounding the company, particularly with its leadership and efforts to improve operational performance.

I remain positive on CSL’s long-term prospects, but after such a strong recovery in its share price, I don’t see enough value to justify buying today. For me, CSL is a hold rather than a buy.

Wesfarmers Ltd (ASX: WES)

If I were ranking these companies purely on management quality and capital allocation, Wesfarmers would be near the top.

The company has built an excellent collection of businesses, with Bunnings and Kmart particularly good examples of brands that Australians keep returning to.

I’ve also been impressed by management’s willingness to invest in new opportunities, change direction, and exit businesses when the economics don’t stack up.

That discipline has helped Wesfarmers create substantial shareholder wealth over time.

And it is still delivering. Underlying net profit increased 8.3% in FY 2026, demonstrating that its businesses can continue making progress even when households are watching their spending.

However, investors have generally been willing to pay a premium for this consistency. Even after pulling back from its highs, Wesfarmers trades at around 30 times earnings.

I think the company will continue performing well, but at that valuation, much of its future growth could already be reflected in the share price.

For that reason, I would prefer to wait for a more appealing entry point.

ResMed Inc (ASX: RMD)

That leaves ResMed, which I think is one of the best ASX shares to buy today.

ResMed makes devices and masks used to treat sleep apnoea, a condition affecting millions of people around the world.

What I like is that its growth doesn’t depend on creating demand for something people don’t need.

A huge number of sleep apnoea sufferers remain undiagnosed or untreated. As awareness and diagnosis improve, more people could start using ResMed’s products.

And patients don’t just buy a machine and disappear. Masks and related supplies need replacing, providing an ongoing source of revenue alongside sales to new patients.

The company’s latest results show how well the business is performing. FY 2026 revenue increased 10% to US$5.7 billion, while free cash flow reached US$1.6 billion. That gives ResMed the financial capacity to develop new products, expand internationally, and reward shareholders.

Yet despite these qualities, its valuation looks reasonable to me, with ResMed shares trading at around 19 times forward earnings.

I think this makes it a great example of quality at a reasonable price, or QARP.

ResMed isn’t without competition or regulatory risks, and its growth won’t be perfectly smooth. But of these five ASX shares, I think it offers the best combination of business quality, long-term earnings potential, and a valuation that leaves room for attractive shareholder returns.

That makes it my top pick today.

The post I compared 5 of the ASX's best shares. Here's which one I'd buy today appeared first on The Motley Fool Australia.

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Motley Fool contributor James Mickleboro has positions in CSL and ResMed. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended CSL, ResMed, and Wesfarmers. The Motley Fool Australia has positions in and has recommended ResMed. The Motley Fool Australia has recommended BHP Group, CSL, and Wesfarmers. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

Flight Centre Travel Group Ltd (ASX: FLT) shares closed the day around 1% lower on Wednesday, at $10.12 a piece.

The shares have now fallen around 33% so far in 2026 and they’re roughly 15% lower than 12 months ago.

The company has faced several headwinds as conflict in the Middle East continues to disrupt global travel plans. Its latest FY26 result was also weaker than expected, including a decline in underlying profit before tax which came in around 2% below market expectations. Its leisure division missed consensus by about 8%.

The company also expects travel to be subdued through the first half of FY27 while the conflict still goes unresolved. Flight Centre expects corporate earnings to be more heavily weighted toward the second half, with first-half profit likely to come in below last year.

But the good news about the ASX travel stock is it offers investors more than just capital gains. It also dishes out a steady passive income stream by way of divided payments.

What makes Flight Centre shares an attractive passive income option?

The business is large in scale, with a huge global reach across both corporate and leisure travel segments. 

The company’s strong position in the global corporate travel market means it is able to earn a diverse but consistent earnings stream which it can then pass on to shareholders.

How many Flight Centre shares can I buy with $5,000?

Using the $10.12 share price at the time of writing, a $5,000 investment will buy approximately 494 shares.

What dividend does the travel company pay its shareholders?

Flight Centre has a history of paying fully franked dividends twice per year, dating back to 2004.

But there was an exception during the Covid-19 pandemic years. Flight Centre did not pay dividends in 2020, 2021, or 2022 due to widespread lockdowns, closed international and domestic borders, and limited travel. 

The company resumed its dividend payments in 2023.

Flight Centre is expected to pay its shareholders a final FY26 fully-franked 30-cent dividend on Friday. This brings the FY26 total dividend to 42 cents per share.

At the time of writing, that translates to a dividend yield of around 4.1% for the year.

According to Commsec data, the travel company is expected to pay 48 cents per share in FY27. It is then forecasted to pay 52.3 cents per share in FY28, and 56.5 cents per share in FY29.

Using the share price at the time of writing, that translates to forward dividend yields of around 4.7%, 5.2%, and 5.6% respectively.

Ok, so what could I earn off a $5,000 investment in FY27?

If Flight Centre pays shareholders the expected 48-cent fully-franked dividend in FY27, then a $5,000 investment (or 494 shares) would generate around $237.12 in FY27.

Assuming the company then pays the 52.3 cent and 56.5 cent dividend forecasted for FY28 and FY29, investors could earn a passive income of around $258.36 and $279.11 off the same $5,000 investment.

The post If I invest $5,000 in Flight Centre shares, what passive income could I earn in FY27? appeared first on The Motley Fool Australia.

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Motley Fool contributor Samantha Menzies has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has recommended Flight Centre Travel Group. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

The Centuria Industrial REIT (ASX: CIP) share price was in focus after the trust announced about 25,000sqm in new lease agreements for Q1 FY27, with an average re-leasing spread of 31%. Management also reaffirmed full-year FFO guidance and highlighted progress on sustainability and data centre initiatives.

What did Centuria Industrial REIT report?

• Approximately 25,000sqm of new leasing agreed in the first quarter of FY27
• Average re-leasing spreads of 31% year to date
• Divestment of 22 Hawkins Crescent, Bundamba for $34.25 million, matching book value
• Continued progress on data centre strategy and renewable energy partnership
• FY27 FFO guidance reaffirmed at 18.8-19.2 cpu (up to 5.5% above FY26)
• Distribution guidance of 17.3 cpu (3% above FY26), to be paid quarterly

What else do investors need to know?

Centuria Industrial REIT’s recent leasing activity builds on strong FY26 volumes, giving it a good runway for further earnings growth. Around 17% of the portfolio remains under-rented, with more than half of leases expiring in the next three years currently below market rents.

The sale of the Bundamba property to an owner-occupier removes a potential vacancy risk and supports the trust’s strategy of focusing on smaller, well-located industrial assets. About 40% of divestments since FY25 have been to owner-occupiers, helping support valuations in a challenging market.

On the sustainability front, the trust’s partnership with Energy Bay could unlock additional income from rooftop solar and supports CIP’s target of zero scope 2 emissions by 2028. The trust also improved its GRESB benchmark score to 74.5 for 2026.

What did Centuria Industrial REIT management say?

Grant Nichols, CIP Fund Manager and Centuria Head of Listed Funds, said:

During the quarter, CIP continued its active portfolio management, delivering leasing outcomes across c.25,000sqm of GLA, building on the near-record leasing volumes achieved in FY26. These strong leasing results contribute to strong NOI growth and tangible FFO growth across CIP’s portfolio.

What’s next for Centuria Industrial REIT?

Management is pressing ahead with its data centre strategy, with a pipeline of more than 250MW of potential power capacity and opportunities to convert suitable industrial assets over time. While major data centre developments are expected from FY28 and beyond, this dual-track approach offers promise for long-term value.

Centuria reaffirmed its FY27 FFO and distribution guidance, and aims to capitalise on the significant embedded value across the portfolio through ongoing leasing, asset repositioning, and capital management.

Centuria Industrial REIT share price snapshot

Over the past 12 months, Centuria Industrial REIT shares have declined 19%, trailing the S&P/ASX 200 Index (ASX: XJO), which has fallen 3% over the same period.

View Original Announcement

The post Centuria Industrial REIT earnings: Leasing momentum and guidance reaffirmed appeared first on The Motley Fool Australia.

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Motley Fool contributor Laura Stewart has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. 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. This article was prepared with the assistance of Large Language Model (LLM) tools for the initial summary of the company announcement. Any content assisted by AI is subject to our robust human-in-the-loop quality control framework, involving thorough review, substantial editing, and fact-checking by our experienced writers and editors holding appropriate credentials. The Motley Fool Australia stands behind the work of our editorial team and takes ultimate responsibility for the content published by The Motley Fool Australia.