PME and JHX: Two Innovative Stocks in Focus on the ASX200 Radar

3 min read | May 22, 2025 01:09 PM AEST | By Team Kalkine Media

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PME and JHX: Two Innovative Stocks in Focus on the ASX200 Radar — Image source: shutterstock

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Highlights

PME delivers strong growth in revenue and profit

JHX benefits from global demand for durable building products

Both companies contribute to innovation on the ASX200

Two standout names on the ASX200 have recently drawn attention due to their strong performance and industry leadership — Pro Medicus Ltd (PME) and James Hardie Industries plc (JHX). These companies, though in very different sectors, reflect robust growth trends and a consistent focus on innovation.

Pro Medicus (ASX:PME): Leading with Imaging Tech

Pro Medicus, a pioneer in radiology IT solutions, has gained a reputation for providing cutting-edge technology that supports medical professionals globally. Its flagship product, Visage, allows radiologists to interpret large X-ray image files remotely on mobile devices. This real-time accessibility can significantly enhance diagnostic speed and accuracy, ultimately aiming to support better healthcare outcomes.

Since 2021, Pro Medicus has expanded rapidly, with revenue climbing at a compound rate of 33.4% annually to reach $162 million in FY24. Over the same period, net profit rose from $31 million to $83 million, showing the efficiency of its growth strategy. Its return on equity (ROE) stands at an impressive 50.7%, underlining strong profitability and effective capital management.

James Hardie Industries (ASX:JHX): Building Smarter with Fibre Cement

James Hardie Industries is recognized globally for its durable and low-maintenance fibre cement building products. With operations across North America, Europe, and Australasia, the company is well-positioned to serve growing construction markets. Its fibre cement products are non-combustible, water- and termite-resistant, and offer long-lasting value for modern buildings.

Between 2021 and FY24, the company’s revenue increased by 10.6% per year to reach $3.94 billion. Its net profit also saw strong growth, nearly doubling from $263 million to $510 million. With a current ROE of 29.4%, the company continues to demonstrate solid fundamentals and operational strength.

Broader Market Context

Both PME and JHX contribute to the dynamic mix of companies that form part of the ASX200, showcasing innovation in sectors from healthcare to construction. Investors often explore such high-performing businesses not only for growth but also for diversification within market indices like the ASX200.

In addition to growth-focused companies, ASX dividend stocks also remain popular, especially for those seeking income-generating options. While PME and JHX are not primarily known for high yields, their financial performance may support long-term value creation.

As 2025 progresses, both Pro Medicus and James Hardie Industries remain in the spotlight as companies transforming their industries and strengthening their presence on the ASX200.

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