Finding ASX shares that can double in value is no easy task.
But history shows that companies with strong competitive advantages, large market opportunities, and scalable business models can deliver outsized returns over time.
In many cases, these businesses are still early in their growth journey, which gives them a long runway to expand.
Here are three ASX shares that could have the potential to double over the next decade, or even sooner if things go their way.
Life360 Inc. (ASX: 360)
The first ASX share that could deliver strong long-term returns is Life360.
It is a family safety and location platform provider that has built a large and highly engaged global user base. Its app provides services such as real-time location sharing, driving reports, and emergency assistance.
What makes Life360 particularly compelling is its monetisation opportunity. While almost 100 million users are already on the platform, only a portion currently pay for premium features. This creates significant upside as the company continues converting free users into paying subscribers.
In addition, Life360 is expanding into new services such as advertising and partnerships, which could further increase revenue per user. With strong growth in users and improving monetisation, the business appears well positioned to scale meaningfully over time.
Netwealth Group Ltd (ASX: NWL)
Another ASX share that could be capable of doubling is Netwealth.
It provides a wealth management platform used by financial advisers and investors. Its platform allows users to manage investments, superannuation, and portfolios in a streamlined and efficient way.
The company has been consistently gaining market share from traditional providers, driven by its modern technology and user-friendly interface.
Importantly, the platform model is highly scalable. As funds under administration grow, revenue increases without a corresponding rise in costs, supporting margin expansion over time.
With structural tailwinds from the shift towards independent advice and digital platforms, Netwealth could continue growing strongly over the next decade.
Pro Medicus Ltd (ASX: PME)
A third ASX share that could deliver outsized returns is Pro Medicus.
It provides imaging software to hospitals and healthcare providers, with its Visage platform offering best-in-class, high-performance diagnostic imaging capabilities.
The company has built a strong position in the United States, where it continues to win large contracts with leading healthcare institutions. These deals are often long-term and high value, providing excellent revenue visibility.
Furthermore, the company's business model is highly scalable. Once its software is deployed, additional usage comes at minimal incremental cost, which supports very high margins.
With a large addressable market and a proven ability to win new contracts, Pro Medicus appears well placed to continue growing. If it maintains its momentum, its shares could deliver significant returns for investors over the long term, especially after a sharp pullback in 2026.
The post 3 ASX shares that could double over the next decade (or much sooner) appeared first on The Motley Fool Australia.
Motley Fool contributor James Mickleboro has positions in Life360 and Pro Medicus. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has positions in and has recommended Life360 and Netwealth Group. 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 Life360 and Netwealth Group. 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.
The Motley Fool's purpose is to help the world invest, better. Click here now for your free subscription to Take Stock, The Motley Fool's free investing newsletter. Packed with stock ideas and investing advice, it is essential reading for anyone looking to build and grow their wealth in the years ahead. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson. 2026