These were the five worst ASX 200 shares to own in FY24

The last financial year was not kind to these stocks.

| More on:
A man slumps crankily over his morning coffee as it pours with rain outside.

Image source: Getty Images

You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn More

The S&P/ASX 200 Index (ASX: XJO) was on form in FY 2024. Over the 12 months, the benchmark index delivered a solid return of 7.8% before dividends.

Unfortunately, not all shares on the ASX 200 were able to rise with the market. Here's why these were the worst performers on the index during the year:

Liontown Resources Ltd (ASX: LTR)

The Liontown Resources share price was the worst performer on the ASX 200 in FY 2024 with a 68% decline. This was driven by the collapse of its proposed takeover by Albemarle Corp (NYSE: ALB) and significant lithium price weakness. The latter is bad news for Liontown, which will be commencing production at the Kathleen Valley Lithium Project in the coming weeks. For many of the same reasons, the IGO Ltd (ASX: IGO) share price lost 63% of its value during the 12 months. Liontown and IGO are not alone, though. Many other ASX lithium stocks are down materially over the same period.

Star Entertainment Group Ltd (ASX: SGR)

The Star Entertainment share price wasn't far behind with a 54% decline over the 12 months. Investors were selling this casino and resorts operator's shares due to concerns over news that the NSW Independent Casino Commission is launching another inquiry. In addition, the company's trading performance was very disappointing. Management blamed the subdued performance on its Premium Gaming Rooms (PGRs) business.

Healius Ltd (ASX: HLS)

The Healius share price was out of form and sank 49% during the financial year. Investors were selling this medical and pathology centre operator's shares due to its significant underperformance. In addition, the company was forced to undertake capital raising at a significant discount to its prevailing share price. The company advised that it decided to raise the funds to reduce its net debt and reset its balance sheet with appropriate gearing.

Fletcher Building Ltd (ASX: FBU)

The Fletcher Building share price lost 46% of its value during FY 2024. This was also driven partly by the significant downturn in the performance of the building materials company. Fletcher Building advised that market conditions across the company's Materials and Distribution divisions have weakened throughout the year. In light of this, it revealed that it will fall short of its EBIT before significant items guidance. In addition, management warned that it expects market conditions to remain challenging in both New Zealand and Australia in the near term.

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

More on Share Fallers

An unhappy investor holding his eyes while watching a falling ASX share price on a computer screen.
Materials Shares

Why did the Core Lithium share price crash 90% in FY 2024

Core Lithium shares were in a sharp downtrend throughout FY 2024. But why?

Read more »

A woman with a sad face looks to be receiving bad news on her phone as she holds it in her hands and looks down at it.
Share Fallers

Why Boss Energy, DroneShield, Jumbo, and Raiz shares are falling today

These shares are ending the week in the red. But why?

Read more »

A male investor wearing a blue shirt looks off to the side with a miffed look on his face as the share price declines.
Share Fallers

Why Dimerix, New Hope, Pro Medicus, and West African Resources shares are sinking today

These shares are having a tough time on Thursday. But why?

Read more »

A man sits in despair at his computer with his hands either side of his head, staring into the screen with a pained and anguished look on his face, in a home office setting.
Share Fallers

Why APA Group, Chalice Mining, Guzman Y Gomez, and Monadelphous shares are falling

These shares aren't having a good time on hump day.

Read more »

A young woman wearing a red and white striped t-shirt puts her hand to her chin and looks sideways as she wonders whether to buy NAB shares
Share Fallers

Is it time to buy FY24's worst-performing ASX shares?

Are there bargains to be found amongst the ASX's worst shares of FY24?

Read more »

Three guys in shirts and ties give the thumbs down.
Share Fallers

Why Lovisa, Mayne Pharma, Pilbara Minerals, and RPMGlobal shares are falling today

These shares are having a poor session. But why?

Read more »

A male investor wearing a blue shirt looks off to the side with a miffed look on his face as the share price declines.
Share Fallers

Why Guzman Y Gomez, MacMahon, Strike Energy, and WiseTech shares are sinking

These shares are under pressure on Monday. But why?

Read more »

a mine worker holds his phone in one hand and a tablet in the other as he stands in front of heavy machinery at a mine site.
Share Fallers

These were 3 of the worst-performing ASX 200 stocks in June. Time to buy the dip?

The three ASX 200 stocks came under heavy selling pressure in June. But why?

Read more »