AUS
NZ
UK
CA
USA
FRA
GER
ESP
ITA
NLD
PRT
SWE
GRC
IND
POL
BRA
ZAF
RUS
CHN
UAE
Highlights
- HUB24 and Pilbara Minerals have shown strong growth performance in 2024.
- HUB24 focuses on wealth management platforms, while Pilbara Minerals is a key player in the lithium industry.
- Both companies have demonstrated solid revenue and profit growth in recent years.
HUB24 Ltd (ASX:HUB) shares have experienced a notable rise in 2024, with a remarkable increase of 90.8% since the start of the year. Pilbara Minerals Ltd (ASX:PLS), a major player in the lithium industry, has seen its stock trade 41.9% below its 52-week high. These two companies have emerged as prominent names, each leading in their respective sectors.
HUB24’s Expanding Reach in Wealth Management
HUB24, established in 2007, has rapidly grown into a leader in the wealth management industry, offering a range of software and platforms that cater to financial advisers and their clients. The company provides services that span across investment management, superannuation, and financial advice. Its main products include the HUB24 platform, Class software for self-managed super funds, and myprosperity, a client portal service for accountants and advisers.
One of HUB24’s key strengths is the high-quality service it delivers. This is reflected in its accolades for 2024, where it received the title of "Overall Best Platform" in the Adviser Ratings Financial Advice Landscape Report. Additionally, HUB24 was ranked first for both "Overall Satisfaction" and "Brand Image and Reputation" in the Wealth Insights Platform Service Level Report for 2024.
Pilbara Minerals: A Major Lithium Player
Pilbara Minerals (ASX:PLS) has established itself as a dominant force in the lithium market, owning the Pilgangoora operation, one of the largest independent hard-rock lithium projects globally. Since acquiring the site in 2014, Pilbara has built a robust business around extracting and selling spodumene concentrate, a critical material for lithium production. The company sells this concentrate through both offtake agreements and the Battery Material Exchange (BMX) platform.
With demand for lithium soaring due to its essential role in electric vehicles and renewable energy technology, Pilbara has positioned itself at the forefront of this growing industry. Although Pilbara faces the inherent challenges of fluctuating lithium prices, it remains a major player in the green tech movement.
Growth and Financial Performance
HUB24 has demonstrated strong financial growth, with its revenue increasing at a rate of 44.4% per year since 2021, reaching $328 million in FY24. Over the same period, net profit rose from $10 million to $47 million. The company’s return on equity (ROE) stood at 9.2%, reflecting its strong operational performance.
On the other hand, Pilbara Minerals has seen even more impressive growth, with revenue increasing at a rate of 92.5% per year, hitting $1.25 billion in FY24. Pilbara’s net profit climbed from -$51 million to $257 million, with its ROE reaching 7.7%.
Both HUB24 and Pilbara Minerals have shown remarkable growth trajectories, positioning themselves as key players in their respective industries.
