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ASX Robotics Stocks: 3 Biggest Companies in 2023
Australia is hoping to lead the way in robotics, and these are some of the country's top robotics stocks by market cap.
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 June 28, 2023, and stocks are listed in order of market cap from largest to smallest.
1. WiseTech Global
Market cap: AU$25.26 billion; current share price: AU$77.66
WiseTech Global (ASX:WTC) provides software solutions to logistics businesses in 173 countries around the world. 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 58 percent since the start of 2023. In its most recent half-year report, which covers the first half of its 2023 financial year, the company reported a 35 percent increase in total revenue compared to the year-ago period.
2. Altium
Market cap: AU$4.73 billion; current share price: AU$36.38
Altium (ASX:ALU) 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 fiscal year that ended June 30, 2022, was strong for Altium. The company reported revenue of US$220.8 million, a 23 percent increase over 2021, and announced a final dividend of AU$0.26 per share.
3. FBR
Market cap: AU$95.39 million; current share price: AU$0.026
FBR (ASX: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 May of this year, the Hadrian X robot reached a lay speed record of 300 blocks per hour, which means it could possibly lay the walls of a standard double-brick home in a single day.
This is an updated version of an article first published by the Investing News Network in 2021.
Don't forget to follow us @INN_Australia for real-time updates!
Securities Disclosure: I, Matthew Flood, hold no direct investment interest in any company mentioned in this article
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