When investing in ASX shares, we might expect some of the total shareholder return to come from dividend payments and the rest from capital growth. But, occasionally, there can be periods of strong capital growth.
If businesses are growing their profit (and dividends), then shareholders can reap the passive income rewards without having to sell their shares to access the stronger financial position of the business.
In this article, I'm going to cover three ASX shares that have seen their share prices rise by at least 100% over the past 12 months.
Gentrack Group Ltd (ASX: GTK)
In the last 12 months, the Gentrack share price has soared more than 220%.
Gentrack is an ASX tech share that provides software for utility businesses and airports around the world. Some of its customers include EnergyAustralia, Npower, Melbourne Airport, Sydney Airport, Gatwick, Schiphol, Orlando International Airport, and Auckland International Airport Limited (ASX: AIA).
The company's recent FY23 half-year result has seen it deliver strong growth thanks to new customers and a rebound from COVID-19 impacts (particularly for airports).
HY23 revenue jumped 47.7% year over year to $84.3 million, earnings before interest, tax, depreciation and amortisation (EBITDA) increased $14.8 million to $16 million, and statutory net profit after tax (NPAT) improved $13.7 million to $7.9 million.
The company has seen such a strong performance that it's expecting to generate revenue of between $157 million to $160 million in FY23 and FY24. That's well up from the previous guidance of between $147 million to $150 million for FY23 and $150 million for FY24.
Lindsay Australia Ltd (ASX: LAU)
In the past year, the Lindsay share price has risen just over 100%.
Lindsay describes itself as an integrated transport, logistics, and rural supply company, and a national service provider to the agriculture, horticulture, and food-related industries.
The ASX share pointed to increased customer demand for freight services in both road and rail, with strong volumes in the horticultural and produce market, industry consolidation, and positive consumer demand for fresh, chilled, and frozen products.
In FY23, the business saw operating revenue growth of 22.3%, underlying EBITDA growth of 50.2%, and underlying earnings per share (EPS) growth of 95.3% to 12.1 cents.
The company is looking to "build or bolt on additional capacity, scale and capability to support future growth and shareholder value" in FY24.
According to Commsec, the Lindsay share price is valued at eight times FY24's estimated earnings.
IPD Group Ltd (ASX: IPG)
In the last 12 months, the IPD share price has risen approximately 120%.
IPD describes itself as a leading distributor and service provider in energy management and automation solutions. Its goal is to "enhance every aspect of electrical infrastructure through energy efficiency, automation and security connectivity".
The ASX share reported significant growth in FY23, with revenue rising 28.3% to $226.9 million, EBITDA growth of 37.1% to $27.7 million, and NPAT growth of 45% to $16.1 million.
The company continues to invest for growth with its focus on higher growth non-residential sectors of the economy. According to Commsec, the IPD share price is valued at 19 times FY24's estimated earnings.
