3 ASX growth shares I want to buy and hold forever

For a long-term investment, I want a business that can keep evolving.

| More on:

You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn More

For a long investment holding period, I would look for ASX shares that can keep finding new ways to grow as the world around them changes.

The three shares below have opportunities that I believe could stretch well into the next decade and beyond.

Excited couple celebrating success while looking at smartphone.

Image source: Getty Images

Pro Medicus Ltd (ASX: PME)

Pro Medicus would be one of my first choices. Its Visage platform has already won over some of the largest healthcare organisations in the United States, yet I think there is still a long way for the business to expand.

One reason is the size of the customers it is now attracting. Large integrated healthcare networks can contain numerous hospitals and thousands of clinicians, giving Pro Medicus an opportunity to become deeply embedded across an organisation once Visage is selected.

There is also more for Pro Medicus to sell. Visage started with radiology, but newer contracts are increasingly taking a broader combination of Viewer, Workflow, and Open Archive. Cardiology is opening another market, while artificial intelligence could eventually add further capabilities to the platform.

I think this ASX share could spend many years winning more hospitals while becoming increasingly important to the customers it already has.

TechnologyOne Ltd (ASX: TNE)

TechnologyOne is another ASX growth share I would happily own for the long term.

Its enterprise software sits at the heart of organisations such as councils, universities, and government departments. These customers use TechnologyOne to manage important areas including finance, payroll, property, and student administration.

The company is also finding considerable growth outside Australia.

The United Kingdom has become an increasingly important market, giving TechnologyOne another large pool of organisations to pursue with software originally developed and proven in Australia. Its recurring revenue continued to grow strongly in the first half of FY26, with management highlighting particularly strong momentum in the UK.

Artificial intelligence adds another opportunity for the company, in my opinion. TechnologyOne's new Plus product is designed to go beyond answering questions and actually perform tasks for customers inside its software.

I think that could make the platform even harder to replace as more work becomes automated.

Goodman Group (ASX: GMG)

Goodman is my final pick, and its business is changing in a way I find particularly interesting.

The ASX growth share has spent decades developing logistics properties in major global cities. That experience in securing scarce land and infrastructure is now helping it pursue the enormous demand for data centres.

For me, power is the key part of this opportunity. Goodman's global data centre power bank has reached 6.4 gigawatts, including 3.6 gigawatts where power has already been secured.

Goodman has sites across major international cities where land, power, and connectivity can be difficult to secure. I think that puts it in an excellent position as hyperscalers and other technology companies look for places to expand.

It also has its established logistics portfolio and investment management operations alongside this emerging data centre opportunity.

Foolish Takeaway

The businesses I want to own for decades are those that still have somewhere meaningful to go.

I would be happy to buy all three of these ASX growth shares with a very long-term mindset.

Motley Fool contributor Grace Alvino has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has positions in and has recommended Goodman Group. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has recommended Pro Medicus. The Motley Fool Australia has recommended Goodman Group and Pro Medicus. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

More on Growth Shares

Two smiling work colleagues discuss an investment at their office.
Growth Shares

Why I'd buy and hold Pro Medicus and DroneShield shares

These are two shares where I am much more interested in what the businesses could become than what happens over…

Read more »

Woman with her kitten on a laptop in her home office.
Growth Shares

3 top ASX shares for beginners to buy now

I think starting with businesses you can actually understand makes the ups and downs of investing much easier to handle.

Read more »

Happy investor on tablet with finance graphs rising in overlay.
Growth Shares

2 ASX shares I want to hold until 2030 and beyond

Both businesses have already achieved plenty. The amount of growth still available is why I would want to own them…

Read more »

flying asx share price represented by man flying remote control drone
Growth Shares

Why are DroneShield shares suddenly rising again?

A guidance miss, then a sharp bounce. What changed?

Read more »

Person handing out $50 notes, symbolising ex-dividend date.
Growth Shares

Where I'd invest $25,000 into ASX shares in August

I outline why these shares could be top picks for investors this month and for years to come.

Read more »

A female soldier flies a drone using hand-held controls.
Growth Shares

ASX defence shares have been the trade of the decade. Is it too late to join the party?

Order books are growing. Share prices aren't.

Read more »

Group of people cheer around tablets in office
Growth Shares

3 growing ASX 300 shares I'd buy with $5,000

All three businesses have something to prove, but strong execution could make them considerably larger over time.

Read more »

Excited couple celebrating success while looking at smartphone.
Growth Shares

5 ASX shares I'd buy with $5,000 in August

I think these ASX 200 shares are now trading below fair value.

Read more »