ASX Tech Stocks: 9 Biggest Companies

Australia may be nicknamed the "land down under," but it's far from under when it comes to the economy.

Australia has strong economic conditions, which include affordability, a low public debt level and rising income. Impressively, before COVID-19, the nation had not experienced a recession in more than 30 years.

While many countries faced economic challenges as the pandemic caused worldwide shutdowns, the closures only accelerated Australia's move toward digital solutions. With monumental shifts in how business, banking and education are done, there came an increased focus on artificial intelligence (AI), fintech and more.

Here, the Investing News Network shares the top ASX tech stocks by market cap, according to TradingView's stock screener. All numbers and figures for these top Australian technology shares were accurate as of February 12, 2025.

1. Block (ASX:XYZ)

Market cap: AU$81.34 billion

Block is a global leader in fintech based in California that was founded in 2009. Composed of Square, Cash App, Afterpay, TIDAL, Bitkey and Proto, Block has aimed to make the economy more accessible.

Previously named Square, in December 2021 the company officially changed its name to Block to incorporate its many facets. The following month, it completed its acquisition of the once-leading ASX tech company Afterpay, a buy now, pay later firm.

Each of Block's subsidiaries provides a means of expanding the economy by giving individuals and companies tools to participate.

Square enables entrepreneurs and businesses to sell with tap-enabled tiles that are powered by mobile technology, instead of requiring a typical clunky point-of-sale system. Cash App allows users to send, receive and invest money effortlessly. TIDAL is a global music, podcast and video-streaming platform built to personalise the listener's experience and give artists due credit for their work. Bitkey is a self-custody wallet for Bitcoin, while Proto offers Bitcoin mining products and services.

In its Q3 2024 results, Block reported US$2.25 billion in gross profit, an increase of 19 percent year-over-year.

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2. WiseTech Global (ASX:WTC)

Market cap: AU$40.49 billion

Logistics software company WiseTech Global serves multinational companies and small businesses, with over 17,000 clients in 174 countries. CargoWise, its hallmark product, improves automation and visibility in supply chains. It is designed to help businesses scale and to assist them in processes related to customs, tariffs, warehousing and freight container management.

WiseTech has completed several acquisitions in recent years as it continues to expand. In 2023, its acquisitions included Blume Global, a provider of a leading supply chain software, as well as Envase Technologies, a provider of transport management system software in North America.

Two of WiseTech's more recent key acquisitions were Australia-headquartered global trade management systems companies BSM Global and ImpexDocs in December 2024 and January 2025 respectively.

In its 2024 fiscal year, Wisetech reported total revenue of AU$1.04 billion, an increase of 28 percent from the year prior.

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3. REA Group (ASX:REA)

Market cap: AU$35.87 billion

REA Group is focused on global online real estate advertising. The company has its headquarters in Richmond, Australia, and conducts business in North America and Asia as well, with 16 brands in its network.

In September 2024, REA Group made a move to acquire a 19.9 percent interest in digital non-bank lender Athena Home Loans, considered one of Australia's fastest growing fintech companies. This follows the June 2023 launch of REA's Mortgage Choice Freedom suite of white label products, which was developed in collaboration with Athena.

In its report on the first half of its financial year 2025, the company enjoyed a strong financial performance, with revenue up 20 percent year-over-year to reach AU$873 million.

4. Xero (ASX:XRO)

Market cap: AU$28.58 billion

Software developer Xero creates cloud-based accounting tools for businesses. The firm's suite of tools has over 4.2 million subscribers. Among its accounting features are offerings designed for project management, invoicing and payroll. For example, by integrating both PayPal (NASDAQ:PYPL) and Stripe into its platform, Xero has added payment features to its online invoices, allowing users to accept payments or pay directly when they get an invoice.

Serving enterprise, small business and banking customers alike, Xero's clients include the four largest banks in Australia: National Australia Bank (ASX:NAB,OTC Pink:NAUBF), the Commonwealth Bank of Australia (ASX:CBA,OTC Pink:CBAUF), Westpac Banking (ASX:WBC,NYSE:WBK) and Australia and New Zealand Banking Group (ASX:ANZ). Xero has also partnered with several international banks in countries from the UK to South Africa.

In its H1 2025 earnings report, Xero reported operating revenue of 996 million New Zealand dollars, an increase of 25 percent year-over-year.

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5. Computershare (ASX:CPU)

Market cap: AU$21.06 billion

With principal operations in share registry services, Computershare helps security holders redeem electronic shares. Computershare had its beginnings in 1978 as one of the first tech startups in Melbourne. It has since grown to employ 14,000 staff managing over 75 million customer records.

On the enterprise level, the company assists businesses with things such as share registry services, employee equity plans and corporate trust services. It acquired Wells Fargo Corporate Trust Services in November 2021, and in September 2023, it announced that it has agreed to acquire the European public equity share plan business of Solium Capital UK, further expanding its global presence.

In December 2024, Computershare acquired ingage IR, which provides investor relations and engagement software to publicly listed companies around the world.

In its H1 2025 report, Computershare reported US$1.5 billion in management revenue, an increase of 6.4 percent year over year.

6. CAR Group (ASX:CAR)

Market cap: AU$14.09 billion

CAR Group is a large online business based in Australia that specialises in classified listings for automotive, motorcycle and marine vehicles. The company is the largest of its kind in the country, where it operates as carsales.com, and it has expanded its operations into South Korea (Encar), Chile (chileautos) and the United States (Trader Interactive). In Brazil, CAR Group owns a majority interest in digital car marketplace Webmotors.

In January 2025, CAR Group exited its Australian Tyres business unit, including both the wholesale division tyreconnect and the e-commerce platform tyresales.com.au. The news gave its share price a boost as the exit was viewed as an important step toward improving the company's financial position.

In its H1 2025 report, CAR Group reported revenue of AU$579 million, an increase of 9 percent from the previous corresponding period.

7. TechnologyOne (ASX:TNE)

Market cap: AU$10.61 billion

TechnologyOne is Australia’s largest enterprise resource planning software-as-a-service (SaaS) company. The company’s client base spans the government, education, health and financial services sectors across Australia, New Zealand and the UK. It focuses on cloud-based technology, AI and machine learning.

TechnologyOne's 2024 annual financial results highlight the company's 15th year of record revenue, profit and SaaS fees. Total revenues came in at AU$515.4 million, up 17 percent from the previous year.

8. NEXTDC (ASX:NXT)

Market cap: AU$9.88 billion

NEXTDC is a data centre company that uses energy-efficient methods to connect its over 1,800 customers to various cloud infrastructure systems. With several of the largest companies in Australia using its data and colocation services, NEXTDC operates 13 facilities that power high-performance computing demands in addition to hosting services throughout Australia, New Zealand, Malaysia and Japan.

The top ASX tech stock connects its clients to some of the world's largest cloud providers, including names such as Amazon (NASDAQ:AMZN) Web Services, Microsoft (NASDAQ:MSFT) Azure, Alphabet's (NASDAQ:GOOG) Google Cloud, Oracle (NYSE:ORCL), IBM (NYSE:IBM) Cloud and Alibaba (NYSE:BABA).

The company is the 2024 recipient of the Australian Data Centre Service Company of the Year award. In its financial year 2024, the company reported total revenue of AU$404.3 million, an increase of 25 percent from the year prior.

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9. SEEK (ASX:SEK)

Market cap: AU$8.46 billion

SEEK is a human resource consulting company based in Melbourne, with operations in several other countries including China, New Zealand, Mexico, Brazil and more. SEEK develops technology products for online employment.

In its H1 FY2025 report, the company announced revenue of AU$536.2 million, down 4 percent versus the previous period, driven by a 14 percent drop in job ad volumes.

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This is an updated version of an article first published by the Investing News Network in 2019.

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Securities Disclosure: I, Melissa Pistilli, hold no direct investment interest in any company mentioned in this article.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.