The S&P/ASX 100 (Index: ^AXTO) (ASX: XTO) is home to some of the highest quality businesses that Australia has on offer.
Three such businesses which I think are in the buy zone right now are listed below. Here's why I would snap them up today:
Although the ResMed Inc. (CHESS) (ASX: RMD) share price has gained 9% so far this year, I don't believe it is too late to invest in the sleep treatment specialist. Thanks partly to its newly acquired Brightree business, ResMed recently reported a 17% increase in sales to US$530.4 million. With the sleep apnoea market tipped to grow strongly for the next few years, I think there's still a significant amount of growth left in its tank.
I think the SEEK Limited (ASX: SEK) share price is in the buy zone again at the moment thanks largely to the solid growth of its overseas operations. Despite weak economic conditions in many of its key international markets, international revenue rose 11% in the first-half of the year on a constant currency basis. The standout once again in my opinion was its Zhaopin business. During the period the China-based business delivered its tenth consecutive quarter of 20%+ growth in both unique hirers and online revenue.
Despite a strong first-half result, the TPG Telecom Ltd (ASX: TPM) share price is still down over 40% since this time last year. At just over 16x trailing earnings I think this makes the telco company a potential bargain buy. A key highlight from that strong first-half result was the surprise expansion of its operating margin. It appears as though the roll out of the company's own fibre network is helping to offset the narrower-than-expected margins provided by the NBN. With this and the growth potential of its mobile phone offering and Singapore expansion, I think TPG Telecom provides investors with a compelling risk/reward at the current share price.