The ASX 200 has historically delivered returns of around 9% per year over the long run.
That's a solid outcome. But I'm not investing just to match the market. When I look at true growth businesses with structural tailwinds, strong competitive positions, and long runways, I think there's a real chance to outperform that benchmark over a decade.
Right now, these three ASX growth shares stand out to me.
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Hub24 Ltd (ASX: HUB)
Hub24 has quietly become one of the most powerful growth stories in Australian financial services.
The company operates a wealth management platform used by financial advisers, and it continues to win market share from incumbents. What I like most is that this isn't just cyclical growth. It's structural.
The shift toward independent financial advice, more sophisticated portfolio solutions, and digital administration platforms plays directly into Hub24's strengths. Net inflows have been consistently strong, funds under administration keep climbing, and margins are benefiting from scale.
In my view, the real opportunity lies in the operating leverage. Once the platform is built, incremental flows are highly profitable. If funds under administration continue compounding at double-digit rates, earnings growth could comfortably outpace the broader market.
For a 10-year holding period, I see a long runway ahead.
ResMed Inc. (ASX: RMD)
ResMed is another ASX growth share I believe could outperform the market over a 10-year timeframe.
Sleep apnoea remains underdiagnosed worldwide. Obesity trends, ageing populations, and increased awareness continue to expand the addressable market. ResMed's devices and cloud-connected software ecosystem give it a recurring revenue profile that many traditional healthcare companies lack.
What I find compelling is the combination of steady device growth and high-margin software revenue. The company's digital health platform creates stickiness with providers and patients, which reinforces its competitive moat.
There have been short-term concerns around weight loss drugs and their potential impact on sleep apnoea rates. But I think those fears have been overstated. Even if treatment patterns evolve, the underlying prevalence of sleep disorders and respiratory conditions remains significant.
Over a decade, I believe ResMed's mix of innovation, global reach, and strong balance sheet positions it to compound earnings at an attractive rate.
Aristocrat Leisure Ltd (ASX: ALL)
Aristocrat is often pigeonholed as a pokies manufacturer, but it's much more than that.
The company has built a dominant position in land-based gaming machines, particularly in North America, where it commands strong market share. But what excites me is its growing digital and interactive segment.
Through acquisitions and internal development, Aristocrat has expanded into online real money gaming and social casino platforms. That diversifies revenue streams and provides exposure to faster-growing digital markets.
Importantly, Aristocrat has demonstrated disciplined capital allocation over time. It invests heavily in game development and intellectual property, which drives repeat usage and customer loyalty.
If the interactive segment continues scaling and the core gaming operations maintain their leadership position, I think earnings growth could outpace the broader ASX 200 over the next decade.
Foolish takeaway
Beating the market over 10 years usually requires more than just owning safe, steady businesses. It requires exposure to companies with structural growth drivers and competitive advantages.
For me, Hub24, ResMed, and Aristocrat Leisure each tick those boxes. None are risk-free, but over a decade, I believe they have a strong chance of delivering returns above the market average.
