Very few ASX companies can boast of doubling their share price in the space of 12 months. Yet two names in the news for differing reasons, Tabcorp Holdings Ltd (ASX: TAH) and Austal Ltd (ASX: ASB), have managed to do just that – and then some.
Let's look at the factors behind their extraordinary runs and calculate what a $10,000 investment in each would be worth today.
Tabcorp's turnaround gathers pace
Tabcorp is best known for its wagering and media business, which operates the TAB brand across Australia. For years, it battled with declining market share and structural challenges. But 2025 has marked a clear turnaround.
The company's FY25 results revealed group revenue of $2.61 billion, up 11.8% on the prior year. Net profit before significant items surged 76.8% to $49.5 million. A strong cost-discipline program shaved $39 million from expenses, beating the target of $30 million.
Managing director Gillon McLachlan described the company as "fitter", highlighting progress on simplifying operations, investing in digitalisation, and pursuing a national tote model. Investors clearly liked what they saw.
At the time of writing, the Tabcorp share price has skyrocketed 156.79% within 12 months. That means a $10,000 investment this time last year would now be worth $25,679 – not including dividends.
Austal rides defence spending boom
Austal is an Australian shipbuilder specialising in defence and commercial vessels. Its portfolio ranges from high-speed ferries to naval patrol boats, but its recent success has been firmly anchored in defence contracts.
The company has enjoyed multiple tailwinds over the past year. Globally, defence spending has surged amid rising geopolitical tensions. Domestically, Austal secured a landmark Strategic Shipbuilding Agreement with the Australian government, locking in its role as the builder of Tier 2 combat vessels through to 2032. The deal is estimated to add more than $4 billion to its pipeline.
FY25 results also impressed. Operating earnings (EBIT) guidance was lifted to more than $100 million, up from $80 million. A big turnaround in its Australasian segment and steady U.S. programs have bolstered confidence in future profitability.
As a result, the Austal share price has soared an astonishing 243.75% in the past year. A $10,000 investment from September 2024 would now be worth $34,375 in September 2025.
Foolish takeaway
The performance of Tabcorp and Austal shows how quickly fortunes can change for ASX companies. In just 12 months, $10,000 investments in each would have grown to a combined $60,000, a substantial gain for investors.
Of course, share prices don't move in straight lines. Both companies face ongoing tests: Tabcorp is still early in its turnaround, while Austal must execute complex defence programs and manage cost risks.
For investors, the lesson is clear. Identifying companies with strong catalysts and the ability to execute can deliver outsized rewards.
