Ansell vs Ampol shares: Which outperforming ASX 200 stock can keep rallying?

When two ASX 200 heavyweights like Ansell Ltd (ASX: ANN) and Ampol Ltd (ASX: ALD) put in big runs, it’s natural for investors to weigh up which performer could shine brightest from here. Both companies have delivered strong gains in 2026 to date, stand head and shoulders in their respective sectors, and offer solid fundamentals—yet they’re very different beasts. Here’s my take on how these two stocks stack up right now.

The case for Ansell

Ansell is a global provider of protective gloves and bodywear, primarily serving healthcare and industrial sectors. With extensive patents and a broad suite of established brands, it sells products in over 100 countries. Most of Ansell’s revenue, as highlighted in its company profile, comes from its healthcare division, while its industrial segment rounds out the rest. Its footprint is truly international, with a strong focus on North America.

A couple of key fundamentals stand out:

• Market cap: $6.41 billion
• P/E ratio: 21.73
• Year to date return: 31.7% (rounded)
• Ansell pays a dividend, though at 2.12% yield and with no franking, it’s on the modest side by ASX standards. The current dividend per share is $1.16. EPS sits at 1.451.

Interestingly, Ansell’s dividend history shows a long-term commitment to distributions, but none have been franked in recent years. Its share price has enjoyed a robust surge so far this year, reflecting upbeat sentiment.

The case for Ampol

Ampol is Australia’s largest petroleum refiner and distributor, running around 2,000 branded service stations nationwide. Previously known as Caltex, it’s now standalone after Chevron’s exit. Ampol’s business covers the refining, distribution, and retailing of fuel and lubricants. It also operates in New Zealand and owns a stake in a leading Philippines fuel company.

Notable highlights from its latest fundamentals:

• Market cap: $10.37 billion (considerably bigger than Ansell)
• P/E ratio: 7.05
• Year to date return: 43.4% (rounded)
• Ampol pays a substantially higher dividend—with a yield of 5.65% (fully franked, which matters to many local investors). The reported dividend per share is $3.70, while EPS is a solid 6.148.

Ampol’s fully franked dividends and sector-leading yield make it a drawcard for income investors, while its massive YTD return shows it’s not just a yield play—momentum is strong.

Valuation comparison

There are several stark differences to weigh up. Here’s a head-to-head of the main numbers:

Metric	Ansell	Ampol
Market Cap	$6.41 billion	$10.37 billion
P/E Ratio	21.73	7.05
Dividend Yield	2.12% (not franked)	5.65% (100% franked)
Dividend per share	$1.16	$3.70
Earnings per share (EPS)	1.451	6.148

It’s worth noting the sector context here. Ansell, in healthcare/industrial supplies, tends to have higher valuation multiples than the capital-intensive energy sector Ampol occupies. Still, the P/E gap is gaping.

Ampol’s fully franked, high-yield dividends may appeal strongly to investors relying on tax-effective income. In contrast, Ansell’s dividends are not franked, which may be less attractive for some.

Recent share price momentum

Comparing recent share price performance up to 14 October 2026:

• As of 14 Oct 2026, Ansell closed at $45.56. Its share price climbed from $42.16 (17 Sep 2026) to $45.56 (14 Oct 2026) — a gain of roughly 8.1% across this period, contributing to a strong year-to-date return of 31.7%.
• As of 14 Oct 2026, Ampol closed at $43.51. It rose from $43.13 (17 Sep 2026) to $43.51 (14 Oct 2026), a far more modest uptick of around 0.9% over the same stretch, but its year-to-date return is an impressive 43.4% — easily outpacing Ansell for 2026 overall.

Which is the better buy?

If I’m picking which outperforming ASX 200 stock looks set to keep on rallying, I’d lean toward Ampol. The numbers really pop: a P/E far below Ansell’s, robust EPS, and a hefty, fully franked yield of 5.65%. Its share price has already leapt 43.4% this year—and it’s kicking out reliable, tax-effective income at the same time.

Ansell’s strong global business and defensive healthcare exposure are commendable and its shares have performed well, but it trades at a much higher multiple, offers a lower yield, and its dividends aren’t franked. For investors seeking growth plus income, Ampol’s combination of momentum, value, and yield stands out even more.

Of course, sector differences matter—resource-based earnings can be volatile—but right now, based on fundamentals and price action in the data supplied, my pick would be Ampol.

The post Ansell vs Ampol: Which outperforming ASX 200 stock can keep climbing in 2026? appeared first on The Motley Fool Australia.

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• 2 top ASX blue-chip shares to buy according to experts
• Buy, hold, sell: Xero, Ansell, Wesfarmers shares

Motley Fool contributor Laura Stewart has positions in Ansell. 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 Ansell. 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 draft. 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.

If you’re among the 33% of Australians with a mortgage, you’re likely to have noticed a dramatic increase in your mortgage repayments this year. 

Since the beginning of 2026, the Reserve Bank of Australia (RBA) has lifted the cash rate four times, taking it from 3.6% to 4.6%. This represents a 15-year high.

For those with an average $731,000 loan balance, this change is meaningful. For those with an even larger mortgage or insufficient income to cover it, the change is likely to be especially stressful. 

At the same time, a record number of Australians are investing.

According to the 2026 ASX Investor Study, 11.5 million Australians are now investing outside of their superannuation or primary residence in 2026. That’s up by 2.5 million since 2020. 

The largest allocation is to ASX-listed shares, with 58% of investors holding them. 

Approximately 950,000 Australian adults also plan to start investing in the next 12 months.

Interest in Self-Managed Super Funds (SMSF) investing is also rising. Around 20% of non-SMSF investors say they’re considering establishing an SMSF in the next 12 months.

Overall, the data is showing that a growing number of Australians are committed to growing their wealth through investing. However, in the face of mortgage pressures, many of these investors may be reconsidering whether to pay down the mortgage instead. 

While this is a highly personal decision, a simple calculation can help Australian mortgage holders decide which option is more likely to put them ahead.

So let’s run through the numbers.

Calculating your before-tax mortgage rate

According to the RBA, the average variable interest rate on owner-occupied properties stands at 6.2%. 

Unlike investment properties, interest repayments on mortgages for primary residences are not tax deductible. This means that homeowners must make mortgage repayments after paying income tax.

So, it’s the before-tax figure that matters.

In Australia, we have a progressive tax system. This means that higher income earners are taxed at higher rates than lower income earners. As a result, the pre-tax mortgage rate will be greater for higher income earners. 

Here’s how to approximately calculate the after-tax rate (including the 2% medicare levy):

Tax bracket	Marginal Tax rate	After tax	Before tax
$0 – $18,200	0%	6.2%	6.2%
$18,201 – $45,000	17%	6.2%	7.5%
$45,001 – $135,000	32%	6.2%	9.2%
$135,001 – $190,000	39%	6.2%	10.2%
$190,001 and over	47%	6.2%	11.7%

Long-term ASX share market returns

The next step is to estimate the return you’re likely to receive by investing in ASX shares. 

According to the 2026 Vanguard Index Chart, Australian shares have returned 9.0% over the past 30 years. While returns have varied year to year, this is a useful proxy for investing in ASX shares and holding them for at least 5 years.

Compare the pair

Now that we’ve run through the numbers, a comparison can be made to determine whether it’s more advantageous to pay down the mortgage or buy ASX shares. 

Let’s make that comparison for the average Australian. 

According to the Australian Bureau of Statistics (ABS), the average Australian annual income in 2026 is $108,352.40. That puts them in the 30% tax bracket (for the upper portion of their income), meaning their pre-tax mortgage rate is 9.2%. 

This is very close to the average return for ASX shares, which comes in at 8.9%. 

So for the average Australian income owner with a mortgage, it’s essentially a draw.

For higher-income earners, paying down the mortgage is slightly more advantageous (11.7% vs 9.0%).

Other considerations

As most mortgage holders would know, there’s more to consider than just the raw figures.

Perhaps most importantly, the emotional burden of being committed to large mortgage repayments can be significant. 

As reported by the Australian Financial Review, the percentage of household income spent on mortgage repayments is near historic peaks, as of mid-2026.

New South Wales, which has the highest average mortgage at around $850,000, has been most affected. The average New South Wales family spent more than 30% of household income on mortgage repayments in June this year. Meanwhile, the average Queensland family allocated 28% towards their mortgage, while South Australia and Western Australia came in at 26%. Victorians paid just 22%.

Another important consideration that would vary the equation is the type of ASX shares that the mortgage holder invests in. While the 30-year average may be a good proxy for investing in index funds such as the Vanguard Australian Shares Index ETF (ASX: VAS), returns vary dramatically based on stock selection. 

Mortgage holders with a track record of significantly outperforming the market may prefer continuing to do so instead of paying down their debt.

What if the RBA raises rates again?

Unfortunately for mortgage holders, further rate hikes have not been ruled out. 

The market has priced in a 30% chance of another rate hike in November 2026. Another one is widely expected in May 2027. 

According to Deloitte Access Economics, should the RBA lift the cash rate to 4.85%, a borrower with the average-sized owner-occupier loan would pay around $9,000 more in annual interest than a year ago. 

This would tip the equation in favour of paying down the mortgage for the average Australian income owner and set a higher returns threshold for preferencing ASX shares.

The post Interest rates are going up: Should you pay down your mortgage or buy ASX shares? appeared first on The Motley Fool Australia.

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• Could $750,000 in ASX ETFs fund a comfortable retirement?
• A rare buying opportunity in 1 of Australia’s top shares?

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.

It was a somewhat volatile but ultimately positive return to trading for the S&P/ASX 200 Index (ASX: XJO) and many ASX shares this Monday. After last Friday’s euphoric end to the trading week, investors seemed to have come back from the weekend with that mindset mostly intact.

Although the ASX 200 did briefly dip into negative territory at one point this session, it ended up closing a comfortable 0.44% higher. That leaves the index at 8,845.7 points.

This happy start to the trading week for the Australian markets came after a far more negative conclusion to the American trading week on Saturday morning (our time).

The Dow Jones Industrial Average Index (DJX: .DJI) had a rough time, falling 0.34%.

The tech-heavy Nasdaq Composite Index (NASDAQ: .IXIC) was much worse though, dropping 2.14%.

Let’s get back to this week and our local markets now and take a closer look at what the various ASX sectors were up to today.

Winners and losers

Despite today’s broader market optimism, there were still a few sectors that were left out.

Leading those losers were tech stocks. The S&P/ASX 200 Information Technology Index (ASX: XIJ) was left out in the cold, tumbling 1.31%.

Gold shares were no safe haven either, with the All Ordinaries Gold Index (ASX: XGD) diving 0.68%.

Consumer discretionary stocks were also unlucky. The S&P/ASX 200 Consumer Discretionary Index (ASX: XDJ) saw its value cut by 0.2%.

Real estate investment trusts (REITs) were also in that ballpark, as evidenced by the S&P/ASX 200 A-REIT Index (ASX: XPJ)’s 0.19% dip.

Our final losers this Monday were consumer staples shares. The S&P/ASX 200 Consumer Staples Index (ASX: XSJ) slid 0.08% lower.

Let’s turn to the winners now. Leading said winners were energy stocks, with the S&P/ASX 200 Energy Index (ASX: XEJ) galloping 2.21% higher.

Financial shares also ran hot. The S&P/ASX 200 Financials Index (ASX: XFJ) surged by 0.86% today.

Industrial stocks followed financials, illustrated by the S&P/ASX 200 Industrials Index (ASX: XNJ)’s 0.83% jump.

Utilities shares did decently too. The S&P/ASX 200 Utilities Index (ASX: XUJ) closed up 0.38%.

Communications stocks didn’t miss out, with the S&P/ASX 200 Communication Services Index (ASX: XTJ) lifting 0.21%.

Healthcare shares managed a rise. The S&P/ASX 200 Healthcare Index (ASX: XHJ) finished the day with an extra 0.14%.

Finally, mining stocks just got over the line, as you can see by the S&P/ASX 200 Materials Index (ASX: XMJ)’s 0.11% bump.

Top 10 ASX 200 shares countdown

Taking out the crown this Monday was waste management stock Cleanaway Waste Management Ltd (ASX: CWY). Cleanaway shares rocketed up 10.24% today to close at $2.97 each.

This followed the news that the company has entered into a takeover scheme with EQT Infrastructure.

Here’s the rest of today’s best:

ASX-listed company	Share price	Price change
Cleanaway Waste Management Ltd (ASX: CWY)	$2.97	20.24%
Challenger Ltd (ASX: CGF)	$11.75	19.29%
Ingenia Communities Group (ASX: INA)	$4.24	7.07%
New Hope Corporation Ltd (ASX: NHC)	$6.18	5.82%
Yancoal Australia Ltd (ASX: YAL)	$6.29	5.71%
Whitehaven Coal Ltd (ASX: WHC)	$7.93	5.17%
Charter Hall Group (ASX: CHC)	$19.35	4.54%
Beach Energy Ltd (ASX: BPT)	$0.905	4.02%
Karoon Energy Ltd (ASX: KAR)	$1.75	3.87%
AMP Ltd (ASX: AMP)	$2.47	3.78%

Our top 10 shares countdown is a recurring end-of-day summary that shows which companies made big moves on the day. Check in at Fool.com.au after the weekday market closes to see which stocks make the countdown.

The post Here are the top 10 ASX 200 shares today appeared first on The Motley Fool Australia.

More reading

• Up 20%: Has the EQT deal saved Cleanaway shares?
• Cleanaway Waste Management enters $9.3bn Scheme with EQT Infrastructure
• Challenger confirms $11.80 per share takeover proposal
• New Hope to create $6.3bn coal group with Malabar merger
• 5 things to watch on the ASX 200 on Monday

Motley Fool contributor Sebastian Bowen 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 Challenger. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.