Fundamentally Sound

Martin Roth’s book “Top Stocks” has been published annually since 1995 (27 editions) and highlights ~100 Australian listed companies considered financially sound.

During Martin's analysis, a company’s share price is ignored. The goal is to select companies with a strong balance sheet and a focus on profitability, debt levels and dividends.

The companies mentioned in the book provide investors with a great fundamental filter over Australia's ~2,300 listed companies. The final shortlist can be used as a watchlist, or to simply uncover companies that might warrant further investigation.

The 2021 criteria for a “Top Stock”:

  • Publicly listed since 2015
  • A constituent of the All Ordinaries Index (i.e. Top 500 company by market capitalisation)
  • Return on Equity (ROE) ratio of at least 10% in the most recent financial year
  • Debt-to-Equity (D/E) ratio less than 70%
  • Foreign registered stocks and listed managed investments are excluded

The list below includes all companies mentioned in the 2021 book plus those currently meeting the criteria.

Interesting fact...
In the 27 editions of Top Stocks, only three companies have appeared every single year; ANZ, CBA and WBC.

List of Companies

Code Company Price 1 Day 1 Week 1 Month 1 Year Sector Mkt Cap
ABC Adbri Ltd $3.17 0.00% -0.94% -6.77% +0.64% Basic Materials $2.07 B
ADH Adairs Ltd $3.83 -4.49% -1.80% -0.78% -3.77% Consumer Cyclical $647.57 M
AEF Australian Ethical Investment Ltd $12.28 -3.16% +15.31% +17.40% +164.66% Financial Services $1.38 B
ALL Aristocrat Leisure Ltd $47.10 +2.86% +4.95% +4.30% +49.48% Consumer Cyclical $30.08 B
ALU Altium Ltd $37.15 +2.68% +9.94% +4.53% -6.68% Technology $4.88 B
ANN Ansell Ltd $31.82 -0.16% -1.64% -8.17% -21.93% Healthcare $4.07 B
ANZ Australia and New Zealand Banking Group Ltd $28.24 -0.53% +1.66% +4.05% +44.08% Financial Services $80.4 B
API Australian Pharmaceutical Industries Ltd $1.525 +0.33% -0.33% +3.74% +41.86% Healthcare $751.3 M
ARB ARB Corporation Ltd $49.79 -1.27% +5.44% +5.73% +53.82% Consumer Cyclical $4.06 B
ASX ASX Ltd $81.09 -0.42% +2.92% -1.89% -1.10% Financial Services $15.7 B
AUB AUB Group Ltd $23.08 +1.59% -1.03% -4.23% +32.57% Financial Services $1.72 B
AWC Alumina Ltd $2.14 -0.93% -4.46% +5.42% +44.60% Basic Materials $6.21 B
AX1 Accent Group Ltd $2.49 +0.81% -0.80% +13.70% +34.96% Consumer Cyclical $1.35 B
BAP Bapcor Ltd $7.95 -1.49% +4.74% +10.26% -2.93% Consumer Cyclical $2.7 B
BBN Baby Bunting Group Ltd $5.59 +1.45% +4.10% +6.07% +17.44% Consumer Cyclical $725.5 M
BHP BHP Group Ltd $38.48 -0.23% +2.37% +2.53% +6.56% Basic Materials $113.53 B
BKW Brickworks Ltd $24.44 +1.03% +2.73% -0.08% +30.35% Basic Materials $3.71 B
BLX Beacon Lighting Group Ltd $2.39 -1.65% +2.58% +15.46% +58.28% Consumer Cyclical $533.74 M
BPT Beach Energy Ltd $1.435 -0.35% +0.70% +37.32% +6.30% Energy $3.27 B
BRG Breville Group Ltd $29.47 +0.89% +7.24% -0.37% +9.15% Consumer Cyclical $4.11 B
BXB Brambles Ltd $10.32 -0.96% +1.98% -6.61% -1.81% Industrials $14.8 B
CBA Commonwealth Bank of Australia $104.95 -0.08% +1.68% +4.11% +50.64% Financial Services $179.09 B
CCP Credit Corp Group Ltd $32.56 +0.40% +10.56% +7.11% +58.29% Financial Services $2.19 B
CDA Codan Ltd $12.90 -3.23% +1.58% -1.53% +9.05% Technology $2.33 B
CKF Collins Foods Ltd $12.92 -1.22% -3.37% +9.58% +25.07% Consumer Cyclical $1.51 B
CL1 Class Ltd $2.85 -4.36% +59.22% +58.33% +30.73% Technology $354.61 M
CLV Clover Corporation Ltd $1.60 +7.38% +8.11% +10.35% -8.57% Basic Materials $266.3 M
COH Cochlear Ltd $219.96 -0.12% +3.52% -6.35% -1.02% Healthcare $14.47 B
CSR CSR Ltd $5.83 +2.46% +5.05% +1.92% +25.38% Basic Materials $2.83 B
DDR Dicker Data Ltd $12.86 -1.23% +2.88% +0.23% +27.83% Technology $2.22 B
DTL Data#3 Ltd $5.52 +0.91% +6.98% +8.66% -20.00% Technology $852.01 M
DWS DWS Ltd $1.20 0.00% 0.00% 0.00% +11.11% Technology $158.2 M
EVN Evolution Mining Ltd $3.76 -0.27% +1.08% +1.35% -35.73% Basic Materials $6.89 B
FID Fiducian Group Ltd $8.57 +0.82% +2.02% +14.27% +50.62% Financial Services $269.76 M
FMG Fortescue Metals Group Ltd $14.41 -0.62% +2.93% -1.97% -15.09% Basic Materials $44.37 B
GUD G.U.D. Holdings Ltd $11.30 +0.36% -1.48% +11.11% -15.86% Consumer Cyclical $1.07 B
GWA GWA Group Ltd $2.69 0.00% +1.51% +3.07% -12.09% Industrials $713.4 M
HSN Hansen Technologies Ltd $6.34 +1.12% +3.43% +14.23% +48.13% Technology $1.27 B
HVN Harvey Norman Holdings Ltd $4.95 -0.60% -1.39% +1.02% +6.45% Consumer Cyclical $6.17 B
IDX Integral Diagnostics Ltd $4.73 +0.64% -2.07% -2.68% +15.37% Healthcare $946.79 M
IEL Idp Education Ltd $37.12 +0.54% +6.70% +17.66% +91.44% Consumer Cyclical $10.33 B
IFM Infomedia Ltd $1.435 -0.69% -13.03% -10.59% -13.03% Technology $539.22 M
IPH IPH Ltd $8.96 -0.56% -0.33% -3.55% +23.59% Industrials $1.96 B
IRE Iress Ltd $12.14 -0.49% +6.03% +4.48% +21.16% Technology $2.32 B
IRI Integrated Research Ltd $1.61 -4.45% +1.26% -10.31% -57.85% Technology $277.6 M
IVC Invocare Ltd $11.64 +0.17% +2.38% -0.17% +9.30% Consumer Cyclical $1.68 B
JBH JB Hi-Fi Ltd $47.17 -1.01% +0.73% +6.26% -7.56% Consumer Cyclical $5.42 B
JIN Jumbo Interactive Ltd $16.08 +1.13% +2.03% +9.61% +28.85% Consumer Cyclical $1 B
LIC Lifestyle Communities Ltd $22.92 +0.04% -1.04% +12.52% +125.81% Real Estate $2.4 B
MCP Mcpherson's Ltd $0.96 0.00% -4.00% -10.28% -63.64% Consumer Defensive $123.5 M
MFG Magellan Financial Group Ltd $36.38 +2.31% +12.15% -5.95% -39.23% Financial Services $6.74 B
MIN Mineral Resources Ltd $41.03 -1.91% -2.96% -10.22% +63.21% Basic Materials $7.75 B
MNF MNF Group Ltd $6.88 -0.29% +6.67% +5.85% +45.15% Communication Services $582.55 M
MNY MONEY3 Corporation Ltd $3.26 +0.93% +0.31% -2.98% +39.91% Financial Services $688.59 M
MOC Mortgage Choice Ltd $1.95 0.00% 0.00% +0.26% +182.61% Financial Services $243.75 M
MPL Medibank Private Ltd $3.47 +1.17% -1.42% -1.14% +27.11% Financial Services $9.56 B
MQG Macquarie Group Ltd $197.84 +0.94% +7.52% +13.90% +45.33% Financial Services $72.97 B
NCK Nick Scali Ltd $14.49 -0.41% +2.04% +24.38% +62.26% Consumer Cyclical $1.17 B
NHF Nib Holdings Ltd $6.91 +1.62% -0.29% +2.22% +54.59% Financial Services $3.17 B
NST Northern Star Resources Ltd $9.43 -0.11% +0.64% +2.95% -41.75% Basic Materials $10.98 B
OCL Objective Corporation Ltd $19.71 -2.86% +2.98% +12.56% +42.00% Technology $1.86 B
OFX OFX Group Ltd $1.605 -0.93% +0.31% -2.13% +37.18% Financial Services $389.12 M
ONT 1300 Smiles Ltd $8.04 +0.25% -0.62% +0.50% +19.29% Healthcare $190.37 M
ORI Orica Ltd $15.04 +1.76% +4.37% +27.89% -8.85% Basic Materials $6.13 B
PDL Pendal Group Ltd $7.10 +1.00% -7.91% -14.56% +5.81% Financial Services $2.72 B
PME Pro Medicus Ltd $53.42 -0.13% +2.12% -9.50% +60.47% Healthcare $5.58 B
PNI Pinnacle Investment Management Group Ltd $16.60 +2.91% +11.41% -0.66% +207.41% Financial Services $3.2 B
PPT Perpetual Ltd $40.38 +7.80% +11.52% +4.61% +34.92% Financial Services $2.29 B
PSQ Pacific Smiles Group Ltd $2.90 +0.69% +7.41% +14.17% +54.26% Healthcare $462.79 M
PTM Platinum Asset Management Ltd $3.08 +1.99% -5.23% -12.25% -2.22% Financial Services $1.81 B
PWH PWR Holdings Ltd $9.15 +4.21% +7.39% -3.07% +88.27% Consumer Cyclical $916.64 M
REA REA Group Ltd $164.88 +1.78% +6.52% +5.50% +33.28% Communication Services $21.78 B
RHC Ramsay Health Care Ltd $67.48 +0.28% +2.34% -3.27% +4.78% Healthcare $15.44 B
RIO RIO Tinto Ltd $96.79 -1.32% -2.60% +1.63% +1.56% Basic Materials $35.93 B
RRL Regis Resources Ltd $2.20 -1.35% +0.46% +10.55% -53.79% Basic Materials $1.66 B
SFC Schaffer Corporation Ltd $21.49 0.00% -0.05% -0.92% +36.36% Consumer Cyclical $295.04 M
SFR Sandfire Resources Ltd $5.65 -1.05% +5.21% +1.15% +31.49% Basic Materials $2.32 B
SGF SG Fleet Group Ltd $2.75 +0.37% -1.79% -1.79% +71.88% Industrials $940.46 M
SHV Select Harvests Ltd $7.81 -1.51% -1.14% -4.76% +26.79% Consumer Defensive $938.95 M
SIQ Smartgroup Corporation Ltd $9.30 -0.43% -0.75% +21.41% +62.02% Industrials $1.24 B
SLK Sealink Travel Group Ltd $7.47 -0.13% +2.33% -12.63% +25.97% Industrials $1.63 B
SNL Supply Network Ltd $8.11 +0.12% -3.22% +1.25% +35.17% Consumer Cyclical $331.16 M
SRV Servcorp Ltd $4.03 +2.03% +3.07% +6.05% +63.82% Real Estate $390.18 M
SSM Service Stream Ltd $0.90 -2.17% -1.64% +17.65% -58.25% Industrials $554.36 M
SUL Super Retail Group Ltd $12.65 -4.38% -0.24% +5.51% +6.39% Consumer Cyclical $2.86 B
TNE Technology One Ltd $12.24 -1.29% +3.20% +7.46% +38.31% Technology $3.94 B
VTG Vita Group Ltd $0.805 0.00% +1.90% -9.04% -24.77% Consumer Cyclical $133.31 M
WBC Westpac Banking Corporation $25.83 +0.58% +2.10% +2.10% +38.20% Financial Services $94.76 B
WES Wesfarmers Ltd $55.55 -1.21% +2.49% -2.37% +17.69% Consumer Cyclical $62.98 B
WOW Woolworths Group Ltd $39.64 -0.88% -1.10% +1.10% +16.23% Consumer Defensive $48.04 B
ABP Abacus Property Group $3.61 +1.40% 0.00% 0.00% +27.20% Real Estate $3 B
ADI Dexus Industria REIT $3.41 +0.59% -2.85% -5.50% +32.22% Real Estate $984.12 M
AGG Anglogold Ashanti Ltd $4.99 -0.20% +2.89% +24.75% -33.29% Basic Materials $445.15 M
ALD Ampol Ltd $31.36 +0.38% +3.50% +19.79% +20.34% Energy $7.47 B
ALK Alkane Resources Ltd $0.93 +1.64% -0.54% +23.18% -31.37% Basic Materials $553.89 M
AMI Aurelia Metals Ltd $0.385 0.00% +14.93% +22.22% -25.92% Basic Materials $475.4 M
AQZ Alliance Aviation Services Ltd $3.94 +0.25% +0.77% -5.52% +14.87% Industrials $632.91 M
ARF Arena REIT $4.43 +0.45% +2.55% +5.48% +65.92% Real Estate $1.53 B
ASB Austal Ltd $1.88 -1.05% -1.05% +11.91% -41.62% Industrials $680.29 M
AVN Aventus Group $3.50 0.00% +6.38% +6.38% +49.57% Real Estate $2 B
BSL Bluescope Steel Ltd $20.28 +0.75% -2.36% -7.19% +38.24% Basic Materials $10.18 B
BWP BWP Trust $4.25 +0.47% +2.16% +4.94% +3.41% Real Estate $2.73 B
CAR Carsales.com Ltd $24.69 +1.40% +0.53% -3.97% +12.68% Communication Services $6.97 B
CCX City Chic Collective Ltd $6.28 +1.29% -6.27% +1.29% +115.07% Consumer Cyclical $1.46 B
CHC Charter Hall Group $17.33 +1.64% +2.18% -2.80% +33.10% Real Estate $8.07 B
CIA Champion Iron Ltd $4.78 +0.84% +2.36% +6.70% +52.72% Basic Materials $2.42 B
CIP Centuria Industrial REIT $3.69 +0.27% +2.50% -6.58% +16.04% Real Estate $2.33 B
CNI Centuria Capital Group $3.25 0.00% 0.00% -6.61% +42.08% Real Estate $2.57 B
CQR Charter Hall Retail REIT $4.14 0.00% +2.48% +4.55% +15.97% Real Estate $2.39 B
CQE Charter Hall Social Infrastructure REIT $3.75 -0.27% +2.74% +0.81% +33.45% Real Estate $1.36 B
CSL CSL Ltd $294.65 -1.02% +0.20% -4.15% -0.83% Healthcare $134.26 B
CUV Clinuvel Pharmaceuticals Ltd $39.17 -2.37% +0.51% -3.88% +74.87% Healthcare $1.94 B
CVC CVC Ltd $2.13 0.00% -4.05% -9.75% +25.29% Financial Services $248.84 M
EBO Ebos Group Ltd $34.50 +1.59% +7.91% +0.88% +43.39% Healthcare $5.66 B
ELD Elders Ltd $11.36 -0.35% -9.05% -6.58% -4.94% Consumer Defensive $1.78 B
EZL EUROZ Ltd $1.71 +3.32% +4.91% +11.40% +41.91% Financial Services $336.9 M
FPH Fisher & Paykel Healthcare Corporation Ltd $28.95 -1.40% +2.19% -7.77% -14.15% Healthcare $16.71 B
GDF Garda Property Group $1.54 -2.53% 0.00% +4.05% +34.50% Real Estate $350.57 M
GMG Goodman Group $22.21 +1.93% +4.52% -0.54% +20.05% Real Estate $41.49 B
GOR Gold Road Resources Ltd $1.33 -0.38% -2.92% +4.31% -9.22% Basic Materials $1.17 B
GOZ Growthpoint Properties Australia $4.19 +0.48% +0.96% -1.41% +21.80% Real Estate $3.23 B
GRR Grange Resources Ltd $0.60 +2.56% +7.14% +30.44% +150.00% Basic Materials $694.4 M
HPI Hotel Property Investments $3.55 -1.11% +2.60% +3.80% +14.89% Real Estate $683.73 M
HTA Hutchison Telecommunications (Australia) Ltd $0.115 0.00% +4.55% +9.52% -14.82% Communication Services $1.56 B
ILU Iluka Resources Ltd $9.68 +1.04% +7.68% +5.79% +88.64% Basic Materials $4.1 B
IMD IMDEX Ltd $2.84 +2.90% +5.19% +29.09% +105.80% Basic Materials $1.13 B
JHG Janus Henderson Group Plc $59.67 +1.62% +0.03% +1.62% +52.96% Financial Services $1.77 B
KSL Kina Securities Ltd $0.86 -2.27% -4.44% +1.18% +10.26% Financial Services $246.76 M
LYC Lynas Rare EARTHS Ltd $7.44 +0.68% +14.64% +11.88% +148.83% Basic Materials $6.71 B
LYL Lycopodium Ltd $4.47 +0.22% +1.82% -4.89% +14.62% Industrials $177.64 M
MAH Macmahon Holdings Ltd $0.205 -2.38% 0.00% +2.50% -10.87% Basic Materials $441.77 M
MND Monadelphous Group Ltd $10.46 +3.77% +8.17% +13.94% +3.67% Industrials $994.98 M
NCM Newcrest Mining Ltd $24.92 +0.40% +3.23% +6.72% -21.59% Basic Materials $20.38 B
NSR National Storage REIT $2.42 +0.42% +2.54% +3.86% +29.07% Real Estate $2.88 B
NWH NRW Holdings Ltd $1.92 +3.23% +6.67% +15.66% -10.28% Industrials $876.23 M
OZL OZ Minerals Ltd $25.19 -2.67% +9.62% +14.40% +66.05% Basic Materials $8.4 B
PMV Premier Investments Ltd $30.93 -0.03% +2.52% +8.41% +34.54% Consumer Cyclical $4.91 B
PPH Pushpay Holdings Ltd $1.73 -0.86% -0.29% -3.89% -19.91% Technology $1.97 B
PRU Perseus Mining Ltd $1.67 -0.89% +7.74% +16.78% +28.46% Basic Materials $2.05 B
PSI PSC Insurance Group Ltd $4.25 +0.95% -0.70% -1.16% +42.62% Financial Services $1.37 B
RBL Redbubble Ltd $4.33 +2.36% -5.04% +10.18% -21.56% Consumer Cyclical $1.19 B
REH Reece Ltd $18.22 +0.44% +4.11% -7.70% +25.05% Industrials $11.77 B
RFF Rural Funds Group $2.80 +0.36% +2.19% +4.87% +18.77% Real Estate $1.07 B
RMD Resmed Inc $35.05 -0.37% +2.19% -8.96% +38.48% Healthcare $14.07 B
RMS Ramelius Resources Ltd $1.53 -1.61% -1.61% +12.09% -27.14% Basic Materials $1.25 B
RWC Reliance Worldwide Corporation Ltd $5.15 +2.18% +1.98% -5.33% +21.46% Industrials $4.07 B
SCP Shopping Centres Australasia Property Group $2.80 +1.08% +2.94% -1.06% +25.56% Real Estate $3.11 B
SDF Steadfast Group Ltd $4.77 -0.42% -2.25% -1.24% +38.66% Financial Services $4.66 B
SGM Sims Ltd $14.36 +2.21% +3.01% +10.63% +63.93% Basic Materials $2.87 B
SGP Stockland $4.73 +2.16% +5.82% +0.85% +17.96% Real Estate $11.29 B
SHL Sonic Healthcare Ltd $39.92 +2.41% +1.45% -4.22% +10.67% Healthcare $19.15 B
SLR Silver Lake Resources Ltd $1.585 0.00% +1.28% +20.53% -30.79% Basic Materials $1.4 B
TBR Tribune Resources Ltd $5.31 +1.34% +6.41% +8.37% -25.21% Basic Materials $278.61 M
TPW Temple & Webster Group Ltd $12.93 -0.15% +4.53% +0.78% +11.27% Consumer Cyclical $1.56 B
WAF West African Resources Ltd $1.385 -0.36% +4.14% +48.13% +34.47% Basic Materials $1.22 B
WPR Waypoint REIT $2.79 +0.72% +0.72% +2.20% +2.20% Real Estate $2.19 B
WTC Wisetech Global Ltd $53.46 -0.56% +7.07% +4.15% +83.27% Technology $17.37 B
ZIM Zimplats Holdings Ltd $23.15 -1.53% +6.68% +16.92% +133.84% Basic Materials $2.49 B
ZNO ZOONO Group Ltd $0.47 0.00% +18.99% +6.82% -69.38% Basic Materials $77.7 M