Pro Medicus Ltd (ASX: PME) shares may be the single best thing an ordinary Australian investor could have owned over the past decade.

The medical imaging software company was a modest small-cap in 2016.

It is now a business worth close to $18 billion.

The share price has fallen 39% over the past twelve months, however, this hasn’t seemed to have impacted the long-term picture much.

Here is exactly what $10,000 would have become.

The maths on Pro Medicus shares over a decade

Pro Medicus shares traded at roughly $5.00 a share through the second half of 2016.

A $10,000 investment would have bought around 2,000 shares.

Those shares closed on Tuesday at $173.15.

The initial investment is now worth approximately $346,000. That is a gain of close to 3,360% before dividends.

Speaking of, dividends improve the number again.

Pro Medicus has paid a fully franked dividend across the entire period.

To illustrate, the FY26 payout alone came to 69 cents per share.

Measured against the original $5.00 purchase price, that single year of income represents almost 14% of what the investor paid back in 2016.

What actually drove the returns

The business did the work, not the market.

Visage is the platform radiologists use to view, store and share medical images.

The platform wins long contracts with large North American hospital networks, and it keeps them.

Revenue has compounded relentlessly while margins widened as the company scaled.

That combination is rare anywhere on the ASX and close to non-existent in healthcare.

Inside the FY26 result

FY26 was another strong year by almost any measure.

Revenue rose 22.9% to $261.7 million and underlying EBIT climbed 24.4% to $196.1 million.

Underlying net profit after tax increased 24.1% to $144.7 million.

Reported net profit jumped 130.3% to $265.3 million.

The company signed ten new contracts worth more than $407 million, including a ten-year agreement with UC Health Colorado.

Six existing contracts were renewed on five-year terms at higher fees.

Cash and financial assets grew 19.7% to $252.3 million, and the balance sheet still carries no debt at all.

Chief executive Dr Sam Hupert was satisfied with how the year finished.

We were aiming for 30% increases in EBIT and NPAT, and we exceeded both on a constant currency basis.

Why Pro Medicus shares have fallen 40% anyway

None of that stopped the share price falling hard.

Pro Medicus shares have dropped from a 52-week high of $321.57 to $173.15. The stock still trades on a price-to-earnings ratio of roughly 67.

That is a high multiple, and it leaves no room for a slower quarter of contract announcements.

Anyone who bought at the high is down more than 45%, which shows how important timing can be.

The valuation question facing new buyers

Buying a wonderful business at any price is not a strategy.

Pro Medicus needs to keep growing near 25% a year to justify what the market pays for it.

The addressable market in North American radiology is large, though it is not infinite.

Competition from larger imaging vendors is there, and contract timing is lumpy by nature.

Foolish takeaway

A $10,000 parcel bought a decade ago is worth around $346,000 today, not including dividends, which is a life-changing outcome from a very ordinary sum of money.

The lesson is not that Pro Medicus shares were an obvious buy in 2016, because they were nothing of the sort.

I would not chase the stock at 67 times earnings today.

But I would also not sell away a decade of compounding simply because the share price has had a difficult twelve months.

The post How much would $10,000 invested 10 years ago in Pro Medicus shares be worth today? appeared first on The Motley Fool Australia.

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• Warren Buffett’s playbook: 3 cheap ASX shares that could soar up to 60%
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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 recommended Pro Medicus. The Motley Fool Australia has recommended Pro Medicus. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

The good news for investors is that passive income does not have to come only from picking individual dividend shares.

ASX exchange traded funds (ETFs) can also be used to build an income stream, while spreading money across a portfolio of different holdings.

That can make them a handy option for investors who want dividends, but do not want to rely on one or two companies doing all the work.

With that in mind, here are three excellent ASX ETFs that could be worth considering for passive income.

Vanguard Australian Shares High Yield ETF (ASX: VHY)

The Vanguard Australian Shares High Yield ETF could be a simple option for investors wanting passive income from Australian shares.

This fund focuses on shares listed on the local market that are expected to provide higher dividend yields than the broader Australian share market.

That naturally gives it exposure to some of the ASX’s more mature, cash-generating businesses. These may include companies from sectors such as financials, resources, telecommunications, consumer staples, and infrastructure.

Among its holdings are giants such as BHP Group Ltd (ASX: BHP), Commonwealth Bank of Australia (ASX: CBA), and Telstra Group Ltd (ASX: TLS).

Betashares Global Royalties ETF (ASX: ROYL)

The Betashares Global Royalties ETF offers a very different type of income exposure.

Rather than focusing on traditional dividend shares, this fund invests in companies that earn royalty income.

That can include royalties linked to areas such as music, intellectual property, pharmaceuticals, mining, energy, and other assets.

Royalty companies can earn a share of revenue from an asset without always carrying the same operating burden as the company producing, selling, or managing that asset directly.

This does not make them risk-free, but it can create attractive cash flow characteristics.

Betashares S&P 500 Yield Maximiser Complex ETF (ASX: UMAX)

A third ASX ETF to consider for passive income in September is the Betashares S&P 500 Yield Maximiser Complex ETF.

This fund gives investors exposure to a portfolio of US shares based on the S&P 500, while using an income-focused options strategy. This means it is able to produce more income than the underlying share portfolio would normally pay on its own.

That could be attractive for investors who want exposure to the US market but would also like regular distributions.

The trade-off is that this strategy can limit some of the upside when US shares rise strongly.

But for income-focused investors, UMAX could still be a useful option. It provides exposure to leading US companies while aiming to turn that portfolio into a stronger income generator.

The post 3 excellent ASX ETFs for passive income appeared first on The Motley Fool Australia.

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• How to earn $10,000 in passive income a month with these ASX dividend shares
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• Could a September rate hike hurt your superannuation returns?
• VGS vs VHY: Which Vanguard ETF comes out on top?

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 no position in any of the stocks mentioned. The Motley Fool Australia has positions in and has recommended BetaShares S&P 500 Yield Maximiser Fund and Telstra Group. The Motley Fool Australia has recommended BHP Group and Vanguard Australian Shares High Yield ETF. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

The Corporate Travel Management Ltd (ASX: CTD) share price is back in focus after ASX lifted its trading suspension, with the company lodging its Preliminary Final Report for the year ended 30 June 2026.

What did Corporate Travel Management report?

• Resumption of trading on the ASX after suspension
• Lodgement of Preliminary Final Report for FY26
• Effective date of reinstatement: Thursday, 3 September 2026
• No financial result figures disclosed in this announcement

What else do investors need to know?

The suspension in Corporate Travel Management shares was lifted after the company submitted its FY26 report, allowing investors to once again trade its securities on the ASX. This marks the end of a trading halt and provides an opportunity for shareholders to re-engage with the company’s share price performance.

Trading will resume from market open on 3 September 2026. Investors should review the full annual report for financial details, as this announcement did not include headline revenue, profit, or dividend numbers.

What’s next for Corporate Travel Management?

With trading resumed, investors’ attention will turn to Corporate Travel Management’s full-year figures and any guidance offered in the Preliminary Final Report. Future updates may include insights into strategy, market conditions, or business performance in FY27.

The company’s results and subsequent market performance may provide a clearer outlook on how Corporate Travel Management is positioned in the travel and corporate services sector.

View Original Announcement

The post Corporate Travel Management shares resume trading after FY26 report 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 positions in and has recommended Corporate Travel Management. The Motley Fool Australia has positions in and has recommended Corporate Travel Management. 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.