ScansFundamentally Sound
Martin Roth’s book “Top Stocks” has been published annually since 1995 (31 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 2025 criteria for a “Top Stock”:
- Publicly listed since 2019
- 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 2025 book plus those currently meeting the criteria.
Interesting fact...
In the 31 editions of Top Stocks, only Commonwealth Bank has appeared every single year.
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List of Companies
| Code | Company | Price | 1 Day | 1 Month | 1 Year | Sector | Mkt Cap |
|---|---|---|---|---|---|---|---|
| ACF | Acrow Ltd | $0.985 | +0.51% | 0.00% | -12.05% | Industrials | $303.38M |
| ADH | Adairs Ltd | $2.14 | +0.47% | -21.03% | +11.46% | Consumer Cyclical | $378.23M |
| AEF | Australian Ethical Investment Ltd | $6.90 | +3.29% | +14.81% | +63.51% | Financial Services | $782.6M |
| AGL | AGL Energy Ltd | $9.73 | +1.67% | -6.44% | -6.26% | Utilities | $6.55B |
| ALL | Aristocrat Leisure Ltd | $68.14 | +1.69% | +5.20% | +29.62% | Consumer Cyclical | $42.5B |
| ANZ | ANZ Group Holdings Ltd | $30.82 | +1.22% | +4.62% | +2.53% | Financial Services | $91.95B |
| AOV | Amotiv Ltd | $8.80 | -0.11% | +15.64% | -17.53% | Consumer Cyclical | $1.2B |
| ARB | ARB Corporation Ltd | $34.46 | +0.76% | +13.65% | -14.51% | Consumer Cyclical | $2.87B |
| ASX | ASX Ltd | $72.02 | +0.95% | +6.33% | +10.06% | Financial Services | $13.99B |
| AX1 | Accent Group Ltd | $1.52 | +1.00% | +10.99% | -29.86% | Consumer Cyclical | $910.8M |
| BHP | BHP Group Ltd | $40.29 | +3.02% | +8.02% | -5.56% | Basic Materials | $204.51B |
| BLX | Beacon Lighting Group Ltd | $3.65 | 0.00% | +2.24% | +58.01% | Consumer Cyclical | $834.59M |
| BRG | Breville Group Ltd | $31.04 | +2.11% | +9.64% | +13.95% | Consumer Cyclical | $4.47B |
| BXB | Brambles Ltd | $23.73 | +0.72% | +3.08% | +59.37% | Industrials | $32.44B |
| CAR | CAR Group Ltd | $37.73 | +3.80% | +1.62% | +9.84% | Communication Services | $14.26B |
| CBA | Commonwealth Bank of Australia | $182.46 | +0.92% | +1.85% | +37.54% | Financial Services | $305.34B |
| CCP | Credit Corp Group Ltd | $15.13 | +1.20% | +14.88% | -2.07% | Financial Services | $1.03B |
| CDA | Codan Ltd | $20.24 | +2.48% | +2.53% | +68.25% | Technology | $3.67B |
| CKF | Collins Foods Ltd | $8.86 | -0.34% | +19.41% | +0.68% | Consumer Cyclical | $1.04B |
| COH | Cochlear Ltd | $310.21 | +1.00% | +10.14% | -7.01% | Healthcare | $20.29B |
| COL | Coles Group Ltd | $20.59 | +0.69% | -6.32% | +16.72% | Consumer Defensive | $27.62B |
| CPU | Computershare Ltd | $41.49 | +0.70% | +1.64% | +56.63% | Industrials | $24B |
| CSL | CSL Ltd | $257.38 | +3.62% | +7.56% | -17.27% | Healthcare | $124.63B |
| CUV | Clinuvel Pharmaceuticals Ltd | $11.25 | +0.99% | +15.27% | -26.18% | Healthcare | $563.89M |
| DTL | Data#3 Ltd | $7.97 | +1.40% | +5.28% | -5.68% | Technology | $1.23B |
| ELD | Elders Ltd | $6.63 | +2.95% | +3.27% | -27.13% | Consumer Defensive | $1.27B |
| EVN | Evolution Mining Ltd | $7.56 | +1.07% | -10.53% | +84.84% | Basic Materials | $15.14B |
| FID | Fiducian Group Ltd | $10.90 | +5.62% | +13.66% | +46.70% | Financial Services | $344.09M |
| FMG | Fortescue Ltd | $17.00 | +0.53% | +8.56% | -22.87% | Basic Materials | $52.34B |
| GOR | Gold Road Resources Ltd | $3.20 | 0.00% | -5.33% | +74.86% | Basic Materials | $3.48B |
| GRR | Grange Resources Ltd | $0.185 | +2.78% | 0.00% | -48.61% | Basic Materials | $214.11M |
| GWA | GWA Group Ltd | $2.42 | 0.00% | +7.56% | -6.56% | Industrials | $641.8M |
| IAG | Insurance Australia Group Ltd | $8.51 | +0.24% | -4.27% | +19.52% | Financial Services | $20.13B |
| IEL | Idp Education Ltd | $3.78 | +1.34% | +5.88% | -72.47% | Consumer Cyclical | $1.05B |
| ILU | Iluka Resources Ltd | $5.26 | +4.99% | +38.42% | -19.82% | Basic Materials | $2.26B |
| IPH | IPH Ltd | $5.17 | +1.17% | +11.18% | -17.01% | Industrials | $1.35B |
| JBH | JB Hi-Fi Ltd | $107.50 | -0.46% | -1.77% | +65.36% | Consumer Cyclical | $11.75B |
| JIN | Jumbo Interactive Ltd | $10.18 | +1.70% | +4.95% | -35.94% | Consumer Cyclical | $634.74M |
| JLG | Johns LYNG Group Ltd | $3.91 | +0.26% | +34.36% | -34.06% | Industrials | $1.11B |
| LAU | Lindsay Australia Ltd | $0.72 | 0.00% | +0.70% | -26.53% | Industrials | $261.94M |
| LOV | Lovisa Holdings Ltd | $33.87 | +3.42% | +4.96% | +1.10% | Consumer Cyclical | $3.75B |
| LYL | Lycopodium Ltd | $11.51 | -0.52% | +11.21% | -15.37% | Industrials | $457.41M |
| MAD | Mader Group Ltd | $7.10 | +0.28% | +16.20% | +15.45% | Industrials | $1.43B |
| MAH | Macmahon Holdings Ltd | $0.30 | 0.00% | 0.00% | +11.11% | Basic Materials | $646.5M |
| MFG | Magellan Financial Group Ltd | $9.91 | +0.61% | +17.84% | +1.02% | Financial Services | $1.7B |
| MND | Monadelphous Group Ltd | $18.63 | +0.59% | +4.96% | +48.68% | Industrials | $1.85B |
| MPL | Medibank Private Ltd | $5.02 | -2.52% | +2.45% | +33.87% | Financial Services | $13.83B |
| MQG | Macquarie Group Ltd | $227.38 | +1.25% | +7.19% | +8.42% | Financial Services | $86.66B |
| MTS | Metcash Ltd | $3.95 | +0.51% | +9.72% | +9.42% | Consumer Defensive | $4.34B |
| MVF | Monash Ivf Group Ltd | $0.76 | +1.33% | +20.64% | -42.21% | Healthcare | $296.12M |
| NAB | National Australia Bank Ltd | $39.19 | +1.27% | +1.01% | +3.98% | Financial Services | $120.04B |
| NCK | Nick Scali Ltd | $19.35 | +3.04% | +1.36% | +36.94% | Consumer Cyclical | $1.66B |
| NEC | Nine Entertainment Co. Holdings Ltd | $1.71 | +0.59% | +4.91% | +21.71% | Communication Services | $2.71B |
| NHF | Nib Holdings Ltd | $7.34 | +0.14% | +12.58% | +2.66% | Financial Services | $3.57B |
| NWH | NRW Holdings Ltd | $3.17 | +1.60% | +9.31% | -0.31% | Industrials | $1.45B |
| NWL | Netwealth Group Ltd | $37.13 | +2.32% | +21.34% | +63.42% | Financial Services | $9.1B |
| OCL | Objective Corporation Ltd | $18.42 | +1.77% | -0.05% | +50.12% | Technology | $1.76B |
| ORG | Origin Energy Ltd | $12.00 | +1.10% | +6.67% | +11.94% | Utilities | $20.67B |
| PME | Pro Medicus Ltd | $327.98 | -0.76% | +20.58% | +149.66% | Healthcare | $34.26B |
| PMV | Premier Investments Ltd | $20.44 | +1.29% | +4.77% | -13.78% | Consumer Cyclical | $3.27B |
| PNI | Pinnacle Investment Management Group Ltd | $23.03 | +3.74% | +15.79% | +43.04% | Financial Services | $5.22B |
| PPT | Perpetual Ltd | $21.12 | -0.38% | +19.73% | -7.49% | Financial Services | $2.42B |
| PTM | Platinum Asset Management Ltd | $0.65 | +6.56% | +30.00% | -38.10% | Financial Services | $378.41M |
| PWH | PWR Holdings Ltd | $7.87 | +2.47% | +17.46% | -34.96% | Consumer Cyclical | $791.44M |
| REA | REA Group Ltd | $240.06 | +0.99% | +1.76% | +21.88% | Communication Services | $31.72B |
| REH | Reece Ltd | $13.23 | 0.00% | -18.43% | -49.43% | Industrials | $8.55B |
| RIC | Ridley Corporation Ltd | $2.81 | +0.36% | -2.43% | +33.35% | Consumer Defensive | $1.05B |
| RIO | RIO Tinto Ltd | $113.11 | +1.81% | +5.56% | -2.44% | Basic Materials | $41.99B |
| RMS | Ramelius Resources Ltd | $2.51 | +2.03% | -9.06% | +25.50% | Basic Materials | $2.91B |
| RWC | Reliance Worldwide Corporation Ltd | $4.26 | +0.95% | -0.23% | -14.11% | Industrials | $3.3B |
| SDF | Steadfast Group Ltd | $6.00 | +0.17% | +1.87% | -5.51% | Financial Services | $6.64B |
| SFC | Schaffer Corporation Ltd | $20.86 | +0.05% | -0.76% | -0.67% | Consumer Cyclical | $283.5M |
| SGLLV | Ricegrowers Ltd | $11.00 | +1.48% | +0.09% | +43.98% | Consumer Defensive | $715.42M |
| SIQ | Smartgroup Corporation Ltd | $7.92 | +0.64% | +6.74% | -8.65% | Industrials | $1.07B |
| SNL | Supply Network Ltd | $40.71 | +0.05% | +8.53% | +87.69% | Consumer Cyclical | $1.77B |
| SRV | Servcorp Ltd | $5.76 | +1.59% | +2.31% | +37.14% | Real Estate | $570.86M |
| STO | Santos Ltd | $7.80 | +0.39% | +0.52% | -2.50% | Energy | $25.33B |
| SUL | Super Retail Group Ltd | $15.07 | -0.07% | +8.34% | +3.01% | Consumer Cyclical | $3.4B |
| SXE | Southern Cross Electrical Engineering Ltd | $1.80 | +1.41% | +3.75% | +5.26% | Industrials | $475.94M |
| TNE | Technology One Ltd | $41.04 | +1.58% | +1.71% | +119.94% | Technology | $13.44B |
| WBC | Westpac Banking Corporation | $34.31 | +1.81% | +3.94% | +20.47% | Financial Services | $117.41B |
| WES | Wesfarmers Ltd | $84.57 | +1.40% | +0.66% | +19.35% | Consumer Cyclical | $95.93B |
| WOW | Woolworths Group Ltd | $31.51 | +1.68% | -0.94% | -10.36% | Consumer Defensive | $38.49B |
| WTC | Wisetech Global Ltd | $115.18 | +1.18% | +7.27% | +23.33% | Technology | $38.54B |