Share prices are always changing, so there are always opportunities to invest in ASX shares that are undervalued.
Multiple experts have called the two ASX shares in this article a good value buy, and I'd definitely agree with them.
Both of the businesses are delivering strong core growth and have plans for more.
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Universal Store Holdings Ltd (ASX: UNI)
According to CMC Invest, there have been nine recent analyst ratings on the business, with all of those being a buy. Collectively, those analysts think the business could rise by around 50% over the next year, with a price target of $9.79.
I don't know whether it'll rise that much, but I do think the business is undervalued because of how well it's growing.
The business sells premium apparel to younger, fashion-focused customers through its two main businesses – Universal Store and Perfect Stranger.
In the first 43 weeks of FY26, the ASX share reported total sales growth of 14%. The Universal Store brand saw total sales growth of 11.8% (with like-for-like sales growth of 8.5%) and Perfect Stranger saw total sales growth of 39.8% (with like-for-like sales growth of 12.9%).
Excitingly, the company is expecting its underlying profit (EBITA) profit margin to increase in FY26, which could help the net profit after tax (NPAT) metric to rise faster than revenue. FY26 EBITA is expected to rise by around 15% (at the mid-point of its guidance).
When a business trades on a relatively low earnings multiple and is growing profit by more than 10% per year, it looks very attractive to me.
According to the forecast on CMC Invest, the business is trading at just 12x FY26's estimated earnings.
Sigma Healthcare Ltd (ASX: SIG)
Sigma Healthcare is the name behind the brand Chemist Warehouse, Australia's leading chemist chain.
But, it hasn't reached a point where its Australian growth has significantly slowed.
Chemist Warehouse's Australian network saw total sales grow by 16.7% between 1 July 2025 to 30 April 2026, while like-for-like growth was 14.4%. It continues to add new stores to its network, which can help boost both sales and scale benefits.
The ASX share's international store network growth has also very pleasing, though it's a much smaller dollar amount at this stage. International total sales for 1 July 2025 to 31 March 2026 was 24.7%, while like-for-like growth was 11.8%. Currently it's in New Zealand, Ireland, Dubai and China.
It's also expanding into the UK, another large market for the company.
According to CMC Invest, there have been eight recent buy ratings on the business, with an average price target of $3.25.
In five years, I think the ASX share could be a much bigger, more profitable business.
