Two ASX Growth Stories Investors May Not Want to Miss in 2026

Two ASX stocks with huge upside potential were reinforced by the recent announcement, performance and long term growth led outlook.

Macquarie Technology Group Limited (ASX: MAQ)

One of the leading ASX technology stocks with a huge potential and a current market capitalisation of $1.43B.

MAQ had announced on 26 August 2026 its full year results for the period ended on June 2026, reporting revenue grew by 6% YoY and 3 years CAGR of 4.2% to $390M.

Segment wise, cloud services & government contribute the most in revenue, with 59% of the revenue mix and a growth of 11.2% YoY to $235.6M, data centres with 14% of revenue, and telecom business contribute 27% to the revenue mix. Out of the total revenue, 95% of revenue came from contracted monthly recurring revenue.

MAQ has reported twelve consecutive years of EBITDA growth for the group, with a 3 years CAGR EBITDA growth of 4% to $115.9M, out of which 48% comes from the cloud services & government segment.

MAQ operating cash flow reached $94.6M in FY26, with a healthy cash conversion ratio of 108%. MAQ has made investments in data centres, resulting in increased financing and depreciation costs, which have impacted EPS, down by 8% YoY to 124.6 cents per share. MAQ has an undrawn debt facility of $496.5M and 100M hybrid securities series 2 available to fund further investment.

Mader Group Limited (ASX: MAD)

One of the top industrial ASX stocks with huge upside potential and currently trading at a market capitalisation of $1.26B.

MAD has announced on 7 September 2026 that its board has approved an on market share buyback of up to $30M. The buy back is expected to start following expiry of the applicable statutory notice period and will operate for up to 12 months, unless completed, varied, suspended or terminated earlier.

Mader Group had announced on 25 August 2026 its full year results for FY26. The group revenue increased by 15% YoY to $1B, and EBITDA reached $120M with an EBITDA margin of 12.1%. Group NPAT increased to $65.37M with an NPAT margin of 6.5%, making the earnings per share of 32.18 cents per share.

MAD has reported net operating cash flow of $85M with a strong cash conversion ratio of 99% and free cash flow of $57.5M, up 35% YoY. MAD had a ROE of 27%, a ROI of 25% and a ROA of 18%.The net cash reached 35.7M, and funding flexibility reached more than $100M, providing ample funding for further expansion.

For FY27 the group expects to continue a strong growth momentum supported by strong customer demand, with revenue expected to be at least $1.13B, a 13% YoY expected growth and NPAT to be at least $72.5M, an increase of 11% YoY. MAD is expected to do $3M-$4M of investment in high growth initiatives designed to support the group long term growth objectives.

Conclusion

These two ASX stocks have a huge potential to grow, supported by their recent results and long term growth outlook driven by capital expenditure in high growth initiatives. MAQ operates in high growth and high demand industries, with the government being its prominent customer with recurring plans, supporting long-term value creation. MAD is a global leader for specialist technical services across multiple industries with strong recent results and a long term growth-driven outlook, strengthening its long term investment case.

(Source: Company Announcements)