The All Ordinaries Index (ASX: XAO) has gained 6.4% over the last 12 months, with this ASX All Ords share doing a lot of the heavy lifting.
The fast-rising stock in question is Shape Australia Corporation Limited (ASX: SHA).
In early afternoon trade on Monday, shares in the Australian fitout and construction services specialist are up 0.2%, changing hands for $6.01 apiece.
This sees the Shape share price up an impressive 109.4% since this time last year.
After that kind of outperformance, you might think the train has left the station when it comes to buying this ASX All Ords share.
But the analysts at Ord Minnett would disagree.
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Should you buy the ASX All Ords share today?
Ord Minnett initiated coverage on Shape shares on 12 December with a buy recommendation.
The broker noted that Shape's national footprint, comprehensive service offering, and quality focus make it stand out in its sector.
So, what exactly does the ASX All Ords share do?
Ord Minnett explains:
The company specialises in transforming existing commercial, government, education, healthcare, and retail spaces into modern, functional, and aesthetically pleasing environments that meet the evolving demands of their occupants.
As for the three reasons that Shape shares can keep charging higher in 2026, the broker noted:
- Shape's defensive qualities have it well-positioned to withstand and excel throughout the economic cycle
- The company's track record of quality execution and how this drives future growth
- Shape's capital-lite model and how this maximises its returns
Taking a look back, Ord Minnett also highlighted the strong annual revenue growth the ASX All Ords share has achieved over the past four years.
According to the broker:
Since listing in [late] 2021, the business has grown its revenue from $572.0m in FY21 to $952.3m in FY25, delivering a normalised EPS CAGR growth of 64% p.a. over that time.
And the past year has been particularly strong for the company. Ord Minnett noted:
2025 has been a defining year for SHAPE – the company has been buoyed by a record orderbook of $492.0m entering FY26 that continues to diversify its end markets, a revenue step change in FY26 (revenue +19.5% vs pcp), and a highly accretive acquisition (OMLe ~13% in FY27, given bought at 4x EV/EBITDA whilst SHA trades on 9x) that expands SHAPE's EBITDA profile and diversifies its revenue streams.
As for its buy rating on the ASX All Ords share, Ord Minnett concluded:
We expect FY26 to be another year of strong topline growth as the company capitalises on a strong backlog orderbook and key project wins in FY25, as well as EBITDA margin expansion through operating leverage and M&A.
Noting that the investment in Shape shares comes with higher risk, Ord Minnett has a $7.10 price target on the stock.
That's more than 18% above current levels.
