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Highlights
- ResMed Ltd shares show significant growth in 2024.
- Goodman Group approaches its 52-week high.
- Both companies demonstrate strong fundamentals in their respective industries.
ResMed Ltd and Goodman Group have been prominent players in their respective sectors, showcasing notable growth and resilience. Both companies have delivered solid performances in 2024, making them stand out in the Australian stock market.
ResMed Ltd (ASX:RMD) Overview
ResMed Ltd, founded in 1989, has established itself as a leading medical equipment provider, particularly in the treatment of obstructive sleep apnea (OSA). The company, originally from Australia, now operates from San Diego, California, and is listed both on the ASX and the NYSE. ResMed’s offerings include cloud-connectable continuous positive airway pressure (CPAP) machines, primarily used for sleep apnea treatment. The company also extends its reach into Software as a Service (SaaS) for healthcare providers, offering tools that support home medical equipment businesses.
ResMed operates on a global scale, employing more than 10,000 people and serving customers in over 140 countries. The company's integrated approach, combining hardware such as CPAP machines and masks with a digital health network, allows for improved healthcare outcomes and reduced costs. ResMed's recent financial performance highlights its growth potential, with revenue increasing at a steady pace of 13.6% per year, reaching USD 4,685 million in FY24. The company also reported an impressive return on equity (ROE) of 22.7%, indicating efficient management and profitability.
Goodman Group (ASX:GMG) Overview
Goodman Group, also founded in 1989, is a global integrated property group, primarily focused on industrial and logistics real estate. The company is the largest ASX-listed property group, with operations spanning markets such as Australia, New Zealand, Japan, the US, and more. Goodman’s core business involves developing and managing large-scale logistics facilities, warehouses, and business parks. The company prides itself on building long-term relationships with clients while delivering high-quality assets.
Goodman’s financial stability is evident through its low debt/equity ratio of 21.2%, showcasing its solid financial structure. As a more mature company, Goodman Group's focus is on steady growth, and it has reported an average dividend yield of 1.3% annually since 2019. However, its return on equity (ROE) in FY24 stood at 0.1%, which is lower than what is generally expected for a business of its size.
Performance Snapshot
ResMed has demonstrated significant growth, with its share price increasing by more than 41% since the beginning of 2024. This reflects investor confidence in its business model and global expansion. On the other hand, Goodman Group’s share price remains 4.6% away from its 52-week high, signaling potential room for further momentum. Both companies continue to maintain strong positions in their respective sectors, with ResMed excelling in healthcare technology and Goodman Group in property development.
