The S&P/ASX 200 Index (ASX: XJO) had a relatively positive 12 months in 2025. During the year, the benchmark index rose 6.8% to finish at 8,714.3 points.
And if you throw in dividends, the total return stretches to over 10%.
While this is good, it pales in comparison to the returns that some ASX 200 shares recorded for the year.
Here are the best-performers during the 12 months:
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DroneShield Ltd (ASX: DRO)
The DroneShield share price was the best performer on the ASX 200 index by some distance with a gain of 300%.
Investors were fighting to get hold of the counter drone technology company's shares after it reported explosive sales growth. This was underpinned by increasing demand for its technology in response to modern warfare trends.
Incredibly, DroneShield's shares were up over 750% year to date at one stage before pulling back.
The good news is that demand remains strong, which bodes well for 2026. In December, DroneShield announced an $8.2 million contract from an in-country reseller for delivery to a western military end-customer and a $49.6 million contract with an in-region European reseller that is contractually required to distribute the products to a European military end-customer.
Liontown Resources Ltd (ASX: LTR)
The Liontown Resources share price was the next best performer with a gain of 198%.
This was driven by improving sentiment in the lithium industry and the release of a solid quarterly update from the miner.
In addition, investors appear optimistic about the company's outlook now that it has transitioned to 100% underground mining at the Kathleen Valley Lithium Project.
Regis Resources Ltd (ASX: RRL)
The Regis Resources share price wasn't far behind with a 196% gain in 2025.
Investors were buying this gold miner's shares following a sharp rise in the gold price over the 12 months.
This supported record EBITDA of $780 million in FY 2025, which was more than double the $297 million it posted in FY 2024.
And with the gold price continuing to rise since then and production potentially increasing in FY 2026, the next 12 months could be very positive for Regis Resources.
Genesis Minerals Ltd (ASX: GMD)
The Genesis Minerals share price was an impressive performer with a gain of 192% for the 12 months.
This gold miner also benefitted greatly from the booming gold price. So much so, in FY 2025 it recorded a 127% increase in net profit after tax to $221.2 million.
Looking ahead, management is guiding to strong production growth in FY 2026.
