S&P/ASX 200 Index (ASX: XJO) shares rose 2.77% and produced total returns, including dividends, of 7% in FY26.
Here, we look at which ASX 200 large-cap shares achieved the most capital growth last year.
Large-cap stocks have a market capitalisation of $10 billion or more.
Many investors favour ASX 200 large-cap shares because they are typically well-established companies that pay reliable dividends.
Let's check out last year's best six performers.
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Best ASX 200 large caps for share price growth
1. PLS Group Ltd (ASX: PLS)
Formerly known as Pilbara Minerals, PLS Group is the largest lithium miner on the ASX 200.
The PLS Group share price ripped 275% in FY26.
The ASX 200 large-cap lithium share closed out FY26 at $5.02.
The company's flagship is the Pilgangoora Operation, the world's largest independent hard-rock lithium mine.
Like all ASX lithium shares, PLS Group benefited from surging commodity prices in FY26.
Lithium spodumene soared 278%, and carbonate rose 160% over the financial year.
2. Mineral Resources Ltd (ASX: MIN)
The Mineral Resources share price rebounded strongly in FY26, rising 188%.
Mineral Resources produces lithium and iron ore, and offers a raft of specialised services to other miners.
The ASX 200 large-cap mining share finished the year at $62.65.
Value investors returned to Mineral Resources shares in FY26 after corporate governance and financial problems pushed the share price to a 5-year low of $14.05 in April 2025.
Mineral Resources stopped paying dividends to save cash and reported its strongest half-year result ever for 1H FY26.
Soaring lithium prices and the ramp-up of its Onslow iron ore project contributed to the company's stronger earnings.
3. Lynas Rare Earths Ltd (ASX: LYC)
The Lynas Rare Earths share price ripped 115.26% higher in FY26.
The ASX 200 large-cap rare earths share finished the year at $18.06 apiece.
The Lynas share price had several tailwinds last year.
Firstly, restricted exports from China amid rising trade and geopolitical tensions continued to push commodity values higher. Neodymium was among them, rising 80%.
This helped Lynas deliver an impressive 1H FY26 report, with net profit after tax (NPAT) jumping from $5.9 million to $80.2 million year over year.
Arguably, the most important company-specific catalyst for share price growth in FY26 was the long-term extension of Lynas' supply agreement with Japan Australia Rare Earths B.V. (JARE) through to 2038.
The deal included a US$110 per kilo floor price for neodymium-praseodymium (NdPr) oxide and annual purchase commitments.
4. BHP Group Ltd (ASX: BHP)
The BHP share price soared 61.63% in FY26.
The ASX 200 large-cap mining share also took back its crown as the market's largest listed company during the year.
The BHP share price finished FY26 at $59.40.
A rising copper price, which hit a record US$6.60 per pound in May, contributed to BHP's strong share price rise last year.
While the Big Australian is still a major iron ore producer, it is now also the world's largest copper producer.
In 1H FY26, copper accounted for more than half of BHP's underlying earnings before interest, taxes, depreciation, and amortisation (EBITDA).
5. Rio Tinto Ltd (ASX: RIO)
The Rio Tinto share price roared 61.03% higher in FY26.
Rio Tinto is also a major iron ore producer, but has diversified into lithium and copper in recent years.
In FY26, lithium and copper were among the fastest-rising commodities relevant to Australia.
This helped push the ASX 200 large-cap mining share to a closing price of $172.51 on 30 June.
6. Newmont Corporation CDI (ASX: NEM)
The Newmont Corporation share price increased 54.07% in FY26.
The ASX 200 large-cap gold share benefited from a resilient gold price last year.
The gold price rose by 18% in FY26, which was a far more subdued performance compared to FY25.
Newmont shares finished the financial year at $134.52 apiece.
