Best Growth Stocks for 2027

Here’s our look at some of the ASX growth shares worth watching heading into 2027. Growth companies generally reinvest a greater proportion of their earnings into expanding their businesses rather than returning most of the cash to shareholders. That can mean lower dividend yields – but potentially much stronger long-term capital growth.

For 2027, some of the most interesting opportunities on the ASX are linked to:

• Artificial intelligence
• Data centres
• Healthcare technology
• Global logistics software
• Biotechnology
• Digital infrastructure

Its Visage imaging platform provides sophisticated medical-imaging software to hospitals and healthcare organisations, particularly in the United States. The FY26 numbers remain exceptional. Revenue increased 22.9% to $261.7 million, while underlying NPAT rose 24.1% to $144.7 million. On a constant-currency basis, underlying NPAT increased 32.5%.

Perhaps even more impressive is profitability. Pro Medicus produced an EBIT margin of approximately 74.9% while remaining debt-free and holding more than $250 million in cash and financial assets. The company also signed 10 new contracts during FY26 with minimum contract values totalling approximately $407 million.

Why it could keep growing: Medical imaging continues to move into the cloud, while artificial intelligence and increasing imaging volumes create additional demand for fast and scalable software.

Best for: Investors looking for a high-quality Australian technology business with substantial offshore growth.

What to watch: Valuation. The market already recognises Pro Medicus as an exceptional company, so expectations are extremely high.

More importantly for the future, data centres accounted for a rapidly increasing proportion of Goodman’s development pipeline. At the half year, approximately 73% of its $14.4 billion development work-in-progress pipeline related to data centres. Goodman has targeted another 9% increase in operating earnings per security in FY27.

Why it could keep growing: Goodman owns something technology companies desperately need but cannot easily reproduce:

Land, power and development capability in major global cities.

As AI increases demand for computing infrastructure, access to electricity and suitable data-centre locations has become increasingly valuable.

Best for: Investors looking for exposure to AI infrastructure without investing directly in semiconductor or software companies.

What to watch: Property valuations, interest rates and the extraordinary amount of capital required to develop data centres.

FY26 revenue reached approximately $1.396 billion, up 79%, boosted by the acquisition of e2open. EBITDA increased 54% to $585.8 million, while underlying NPAT rose 29% to approximately $313.5 million. The company continues to expand CargoWise across major global freight-forwarding organisations while integrating e2open and investing heavily in AI.

Why it could keep growing: Global logistics is enormous, complex and still surprisingly fragmented technologically. Replacing multiple legacy systems with one integrated global platform provides WiseTech with a substantial long-term opportunity.

Best for: Investors looking for an Australian-listed global software company with a large international market.

What to watch: Integration of e2open, execution risk, valuation and governance remain important considerations.

Our Growth Themes for 2027

There are three themes running through several of these companies.

1. Artificial Intelligence Infrastructure

AI doesn’t just require software. It requires: chips → servers → electricity → data centres → fibre → cloud infrastructure. NEXTDC and Goodman provide exposure to this physical infrastructure layer.

2. Australian Technology Going Global

Pro Medicus and WiseTech are examples of Australian businesses that have built specialist software platforms and successfully taken them into enormous global markets. That ability to earn revenue internationally gives them far larger growth opportunities than the Australian economy alone could provide.

3. Healthcare

Australia has produced several globally significant healthcare businesses. CSL and Pro Medicus participate in very different parts of healthcare, but both benefit from long-term trends including ageing populations, increasing diagnosis rates and continued investment in medical technology.