ASX growth shares to double by 2030

Growth investing focuses on companies that have the ability to expand earnings and market share faster than the broader market.

These businesses should have scalable business models and strong global demand because such qualities can support long-term growth in profits.

The following ASX growth stocks could double in value by 2030 if they execute their plans well and capture new opportunities in their markets.

TechnologyOne Limited (ASX: TNE) 

is one of the best ASX growth stocks for investors right now and the company in FY25 reported a record profit before tax of $181.5 million which was up 19% year-on-year.

Annual recurring revenue rose 18% to $554.6 million and Free cash flow increased by 55% year-on-year to $184.2 million.

The company ended the year holding $319.6 million in cash and it carries no debt which shows clear balance sheet strength and retains more than 99% of its customers.

Management recently upgraded FY26 guidance and now expects profit before tax to rise between 18% and 20% instead of the earlier range of 13% to 17% which shows a clear increase in expectations.

TechnologyOne has strong switching cost advantages which could help double the stock price by 2030 and management has set a target of more than $1 billion in ARR by FY30 which will come from SaaS+ expansion and growth in the UK market.

Lovisa Holdings Limited (ASX: LOV) 

is one of the most interesting ASX growth stocks at present with a market capitalisation of about $2.53 billion and a global retail network which is expanding quickly.

The company in the first half of FY26 reported revenue of about $500.7 million while EBIT reached $98.3 million and net profit after tax was $58.4 million.

The business on an underlying basis performed even better because EBIT rose 20.4% to $109.1 million while underlying NPAT increased 21.5% to $69.6 million.

Total sales rose about 23% year-on-year which was mainly due to expansion of the global store network.

Lovisa ended the half with about 1,095 stores worldwide and the company opened 85 new stores during the period. If this expansion and sales growth continue then the current momentum could potentially help double the stock price by 2030.

Pro Medicus Limited (ASX: PME) 

is a promising ASX growth stock which has a current market capitalisation of about $14.5 billion and a global healthcare imaging software business that is expanding quickly.

The company in the first half of FY26 reported revenue of about $124.8 million which was up 28.4% year-on-year while underlying EBIT rose 29.7% to $90.7 million.

Net profit after tax reached about $171.2 million. The balance sheet is also very strong because the company ended the period with around $221.8 million in cash and investments and has no debt.
Another important advantage comes from its scalable software model which will support their long-term contracts. The company also has more than $1 billion in forward revenue that is expected over the next five years.

Future growth could remain strong if global expansion continues and large healthcare system contracts are secured. Greater use of AI driven imaging technology may also support this expansion which could push the stock price to double by 2030.

(Source: Company Reports)