ASX 200 shares that could outperform the market over 10 years

The following 3 ASX 200 stocks could outperform the broader market over the next 10 years due to their durable business models, high returns on capital, strong competitive moats and compelling current valuations.

REA Group Limited (ASX: REA) 

has a market capitalisation of $23.05 billion and is one of the ASX 200 shares that could outperform the market over 10 years because of its dominant position in Australian property listings and its powerful network effects.

The company in H1 FY26 posted solid results as revenue rose 5% to $915.8 million while EBITDA increased 6% to $568.9 million.
Net profit after tax attributable to shareholders also moved higher and reached $340.6 million which was 9% above the prior corresponding period.

Platform engagement was another major highlight as realestate.com.au reached a record audience of 12.7 million users while buyer enquiries surged 25% year-on-year and average monthly buyer enquiries reached 2.6 million which further reinforced its leadership in Australian property advertising.

REA’s competitive advantage is highly durable because it operates Australia’s leading property marketplace where buyers, sellers, agents, brokers and advertisers all benefit from the platform’s scale which makes it extremely difficult for competitors to replicate.

Recent developments are positive as the company expands AI integration across search and customer tools while premium advertising products such as Premiere+ could create significant long-term value in the future.

Xero Limited (ASX: XRO) 

has a current market capitalisation of $14.63 billion and is one of the most attractive SaaS businesses on the ASX because of its global scale and expanding ecosystem. Its position in cloud accounting software could help the company outperform the market over 10 years as more businesses shift towards digital financial management platforms.

The company in H1 FY26 posted another solid performance as operating revenue rose 20% year-on-year to NZ$1.194 billion. Adjusted EBITDA also increased 12% to NZ$351 million while free cash flow jumped 53% to NZ$321 million.

Subscriber growth also remained impressive as the company’s total subscribers climbed 10% to 4.59 million across its platform.

Several recent developments have also attracted attention including the launch of its AI-powered financial superagent JAX together with integration of OpenAI capabilities and the rollout of advanced automation tools across the platform.

The company also completed the Melio acquisition to accelerate US payments growth while the expansion of embedded payroll and bill-pay services has created significantly larger monetisation opportunities across its ecosystem.

Aristocrat Leisure Limited (ASX: ALL) 

has a current market capitalisation of $28.6 billion and is one of the highest quality gaming and digital entertainment businesses which places it among the ASX 200 stocks that could outperform the market over 10 years.

The company in FY25 reported another strong result as revenue increased 11% year-on-year to $6.3 billion while EBITDA rose 16% to $2.63 billion.

Its core Aristocrat Gaming division maintained a dominant position with Gaming Operations market share rising to 43% alongside a huge installed base of 75,225 units.
Aristocrat Interactive meanwhile became a major long-term growth driver as revenue surged 54% with strong momentum across iLottery and iGaming while rising market share in online casino content and the successful NeoGames integration positioned the business to target US$1 billion in revenue by FY29.

The company expects further NPATA growth in FY26 which is supported by ongoing market share gains, recurring revenue that now accounts for 72% of total revenue and a highly defensible competitive moat.

(Source: Company Reports)