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Highlights
- ResMed has seen significant share price growth in 2024.
- Goodman Group is close to its 52-week high, showcasing its strength.
- Both companies demonstrate robust business models with a global presence.
The year 2024 has been notable for ResMed and Goodman Group, two of the most recognizable names on the ASX. ResMed’s share price has risen significantly, while Goodman Group is near its 52-week high. Both companies provide interesting insights into growth and stability within their respective industries. Here's a closer look at their performance and what makes them stand out.
ResMed (ASX:RMD)
ResMed, originally founded in Australia but now headquartered in San Diego, California, specializes in cloud-connectable medical devices such as CPAP machines used to treat sleep apnea. ResMed has expanded its operations globally, boasting a workforce of over 10,000 employees and a presence in more than 140 countries.
The company operates two main business segments: Sleep and Respiratory Care, and Software as a Service (SaaS). Its sleep care solutions focus on providing CPAP machines that assist individuals with sleep apnea, while the Respiratory Care division supports patients requiring life-support equipment such as ventilators. In addition, ResMed’s SaaS division supports out-of-hospital care, enhancing operational efficiency through digital solutions for medical equipment providers.
ResMed’s strong digital health platform, coupled with its innovative hardware like masks and humidifiers, allows the company to gather valuable data to drive healthcare insights. This network not only supports patients but also helps in reducing overall healthcare costs, an important factor in the growing global healthcare market.
Goodman Group (ASX:GMG)
Founded in 1989, Goodman Group is Australia’s largest listed property company. Specializing in logistics and industrial real estate, Goodman operates across key global markets, including Australia, the United States, Japan, and Brazil. Goodman develops, owns, and manages properties like warehouses, business parks, and logistics centers, reflecting the growing demand for real estate infrastructure as online shopping and global trade continue to rise.
Goodman focuses on building long-term relationships with clients by delivering high-quality assets that meet the specific needs of each market. The company’s global portfolio and strong market presence in logistics provide a solid foundation for future growth in the real estate sector.
Performance Highlights
ResMed’s recent financial performance illustrates strong growth. The company has experienced a notable increase in revenue, growing at an annual rate of 13.6% since 2021. For the fiscal year 2024, the company posted a revenue of $4,685 million and a net profit of $1,021 million, alongside a return on equity (ROE) of 22.7%. These numbers reflect ResMed’s ability to maintain growth within the healthcare industry.
Goodman Group, while a more mature company, has consistently delivered results. In fiscal year 2024, it reported a debt-to-equity ratio of 21.2%, showcasing a solid balance sheet. Although its ROE came in at 0.1% for the same period, Goodman’s focus on stable long-term assets like logistics facilities demonstrates a steady approach to managing its real estate portfolio.
