3 ASX shares with a realistic shot at becoming the next $50 billion giant

These three companies have already established strong businesses, and I think they could become considerably more valuable over the next decade.

Australia is home to some enormous businesses.

Take Goodman Group (ASX: GMG), which has grown into a global property powerhouse and is now worth approximately $56 billion.

Then there's Telstra Group Ltd (ASX: TLS), with a market capitalisation of around $55 billion, and Woolworths Group Ltd (ASX: WOW), which is valued at close to $50 billion.

These are businesses that have established themselves as major players in their respective industries.

But something I find fascinating is thinking about what they looked like before they became so large.

Couple using their digital tablet together.

Image source: Getty Images

The opportunity to get in early

There was a time when these companies were worth a fraction of what they are today.

Goodman, for example, spent years expanding its international property portfolio, building relationships with major customers, and positioning itself to benefit from changing demand for logistics facilities.

More recently, its expansion into data centres has opened another significant growth opportunity.

Investors who recognised the potential in businesses like Goodman long before they became giants could have enjoyed substantial returns as their earnings and market capitalisations grew.

And those who held on gave themselves the opportunity to benefit from the power of compounding.

That's something I think is worth remembering. A successful investment doesn't necessarily deliver its best returns in the first year or two. Sometimes, the biggest rewards come from allowing a company to keep growing for a decade or longer.

Of course, getting there requires finding the right businesses. Plenty of promising companies struggle to translate their ambitions into sustainable profits, and even successful businesses can become disappointing investments if you pay too much for them.

But I think there are some ASX shares today that have a realistic opportunity to become much larger businesses.

I'm interested in companies that already have proven products or services, established market positions, and opportunities to expand well beyond their current operations.

And I've identified three that I believe could eventually join Australia's $50 billion club.

None is guaranteed to reach that milestone, and the journey could take many years. But I think the potential rewards make them worth investigating.

Here are the three businesses I'd be watching.

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 and WiseTech Global. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has recommended Pro Medicus. The Motley Fool Australia has positions in and has recommended Goodman Group, Telstra Group, and WiseTech Global. The Motley Fool Australia has recommended Pro Medicus. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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