Pro Medicus shares surge 3,100% over decade despite 2025 dip

Pro Medicus Ltd (ASX: PME), the Australian health‑imaging software firm, has delivered extraordinary long‑term returns. A $5,000 investment made in July 2016 would be worth roughly $160,000 today, a gain of about 3,100% before dividends. The company’s half‑year results to 31 December 2025 showed revenue of A$124.8 million, up 28.4% year‑on‑year, and underlying profit before tax of A$90.7 million, up 29.7%. Net profit after tax rose 230.9% to A$171.2 million, boosted by a A$149.1 million unrealised gain on its 4D Medical stake. PME ended the period with A$221.8 million in cash, no debt, and signed more than A$280 million in new contracts, highlighted by a A$170 million deal with University of Colorado Health. CEO Dr Sam Hupert said the company made “more sales in this half than we used to make in a full year” two years earlier. Despite a 28% share‑price decline since the start of 2025, the longer‑term performance remains strong.