The ASX share market is seeing its fair share of volatility this month; it could be a great opportunity to invest in ideas trading near 52-week lows.
Certain companies' performance can be closely linked to consumer confidence in the short term. But downturns shouldn't last forever, so I view any pessimism as a chance to buy the dip.
The two ASX shares below have shown their ability to grow over the long-term. Let's get into why I think they're buys.
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Collins Foods Ltd (ASX: CKF)
At the time of writing, the Collins Foods share price has fallen more than 30% since December 2025, as the chart below shows. I think the KFC franchisee operator is now very good value.
I believe it still has significant growth potential in both Australia and Europe.
The FY26 result included a number of positives, including revenue growth of 8.6% to $1.59 billion, underlying operating profit (EBIT) growth of 10.1% to $130.7 million and underlying net profit growth of 13% to $61.4 million.
Collins Foods was also able to reduce its net debt by close to $18 million, while increasing the annual dividend per share by 7.7%.
The first eight weeks of FY27 saw total KFC sales growth of 6.7% in Australia and 26.4% in Germany, but a 5.2% decline in the Netherlands. Same-store sales growth was 4% in Australia, but there was a decline of 7.2% in Germany and 7.8% in the Netherlands. The company noted consumer sentiment was weak in Europe amid the Middle East conflict and high fuel prices.
I think the company can have a good FY27 and beyond. It's expecting a stable cost environment in FY27 and plans to open between seven and ten restaurants in Australia and another seven in Germany.
According to Commsec's projection, the Collins Foods share price is valued at less than 15x FY27's estimated earnings, with further earnings growth projected for FY27 and FY29. This looks like the right time to invest near its 52-week low.
Temple & Webster Group Ltd (ASX: TPW)
The other ASX share that looks cheap to me is this leading Australian online business that sells furniture, homewares, and home improvement products.
The Temple & Webster share price is down more than 70% in the past year and has fallen more than 60% in 2026 to date, as the chart below shows.
The company has seen customer demand slow over the past year, so it is currently looking to maximise its profitability. April 2026 was the most profitable April in its history, with operating profit (EBITDA) of around $2.5 million.
For FY26, the company expects to grow its revenue by between 11% and 12%, and grow EBITDA by between 6% and 17%. Management believes FY27 EBITDA could close to double, even in a low-growth scenario.
The company is benefiting from rising adoption of e-commerce by households. Australia is following UK and US trends, but just a few years behind, suggesting online shopping could account for 30% or more of the Australian homewares and furniture market by the end of the decade.
Temple & Webster also suggests that the uplift in profitability and its strong balance sheet position the company for both organic and acquisition growth.
According to Commsec's projection, the Temple & Webster share price is valued at 38x FY27's estimated earnings. I think it looks great value at this level, near its 52-week low.
