ASX Robotics Stocks: 3 Biggest Companies in 2024
Robotics is a growing area of engineering and science technology. Although Australia is hoping to lead the way in robotics, the number of pure-play ASX-listed robotics companies currently isn’t very long.
Robotics is a broad term covering everything from design to the construction and operation of robots. It also includes the use of robots in roles normally played by humans, often to reduce errors or speed up processes.
The list below provides an overview of the three largest ASX-listed companies that employ robotics. Data was sourced using TradingView’s stock screener on March 7, 2024, and stocks are listed in descending market cap order.
1. WiseTech Global (ASX:WTC)
Market cap: AU$30.88 billion; current share price: AU$94.22
WiseTech Global provides software solutions to logistics businesses in 173 countries. Its CargoWise platforms are designed using workflows, automation and robotics. The WiseTech Global Group includes more than 30 businesses.
The tech powerhouse has performed positively over the past year, with its share price rising about 25 percent since the start of 2024. In its most recent half-year report, which covers the first half of its 2024 financial year, the company reported a 32 percent increase in total revenue compared to the year-ago period.
2. Altium (ASX:ALU)
Market cap: AU$8.6 billion; current share price: AU$65.29
Altium is a leading global software company that focuses on 3D-printed circuit board (PCB) design. Although seemingly obscure, the PCB design tool Altium Designer is used by robotics companies like iRobot (NASDAQ:IRBT). The company also sponsors student robotics design competitions that focus on PCB design.
The half-year segment ended on December 31, 2023, was strong for Altium. The company reported revenue of US$138.6 million, a 16 percent increase over the previous period, and announced a final dividend of AU$0.30 per share.
3. FBR (ASX:FBR)
Market cap: AU$102.15 million; current share price: AU$0.023
FBR designs, develops and builds dynamically stabilised robots for the global construction market. The robots are made to work outdoors and employ FBR’s Dynamic Stabilisation Technology.
This technology was first used in the Hadrian X, a brick-laying robot that can build structural walls more efficiently than traditional methods and with less waste. The robots have built both residential and commercial buildings since their launch in 2018. In March of this year, the next-generation Hadrian X construction robot successfully completed its factory acceptance test, and will be shipped to the US for a site acceptance test.
This is an updated version of an article first published by the Investing News Network in 2021.
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Securities Disclosure: I, Melissa Pistilli, hold no direct investment interest in any company mentioned in this article