Top ASX Stocks: 2 Companies Showing Strong Growth

These two are top ASX stocks for big returns, led by strong recent results and new business updates, with a long term growth outlook supported by strong demand.

Monadelphous Group Limited (ASX: MND)

One of the best industrial ASX stocks with a big return, currently trading at a market capitalisation of $2.91B and a current fully franked dividend yield of 3.72%.

MND had announced on 25 August 2026 its full year results for the period ended on June 2026. The revenue from contracts and customers increased by 31.5% YoY to $2.98B, driven by strong operating conditions across all sectors. Division-wise, the engineering construction revenue division increased 48% YoY to $1.3M. Maintenance & industrial services division revenue increased by 20% YoY to $1.6B, contributing the most in the revenue mix.

EBITDA grew by 42.9% to $226M with an EBITDA margin of 7.58%. Net profit after tax also grew massively by 52.1% YoY to $127.3M, resulting in the earnings per share increasing by 50.1% YoY to 127.6 cents per share. MND has distributed a fully franked annual dividend for FY26 of 108 cents per share (+50% YoY).

MND has reported an operating cash flow of $245M and a cash flow conversion rate of 147%. MND cash balance rose by 42.7% to $293.6M, and they have secured new contracts on $2.7B, all across Australia and Papua New Guinea.

Megaport Limited (ASX: MP1)

One of the best technology based ASX stocks with a big return, currently trading at a market capitalisation of $4.08B.

MP1 had announced on 20 August 2026 that its wholly owned subsidiary Latitude.sh has secured a major infrastructure contract. This includes three contracts covering GPU and CPU compute, network, and storage capacity for multiple customers, further expanding Megaport’s role in supporting AI applications and inference workloads. The contracts represent a combined total contract value (TCV) of $506.2M, representing approximately $129.2M in annualised recurring revenue (ARR).

The contract required an incremental capital expenditure of $291.8M, primarily for high-performance NVIDIA GPU, compute, network and storage hardware.

Megaport has been unable to secure equipment meeting the required technical specifications for certain components of two strategic customer contracts due to supply constraints announced on 3 June 2026.

As a result, the same strategic customer contracts are expected to deliver an aggregate increase of approximately $122.7M in TCV compared with the previously announced amounts, with no material change in aggregate ARR and capital expenditure requirements. This makes the total TCV for strategic contracts $1.3B.

On the same date, MP1 had announced its full year results for the period ended on June 2026. The group's annual recurring revenue increased by 62% YoY to $395.2M, with network ARR increasing by 19% YoY to $289.6M and compute ARR growing by 72% YoY to $105.6M. The combined total contract value reached $747.8M, and total revenue for FY26 increased by 37% YoY to $312.2M

Gross profit increased by 41% YoY to $229M with a gross profit margin of 73%. EBITDA grew by $77.1M with an EBITDA margin of 25%. Closing net cash balance massively increased by 361% to $406.9M.

For FY27, MP1 expects a group revenue of $620M-$730M, in which $315M-$325M is expected from network and $305M-$405M is expected from compute. MP1 is expected to report an EBITDA margin of 38% to 40% and an expected capital expenditure of $1.28B-$1.38B.

(Sources: Company Announcements)