May was a veeeeery big month in Australia. First, the Labor government scored a major win in the federal election (cue political mic drop). And just two weeks later, the Reserve Bank of Australia announced a second consecutive rate cut - a win for most Aussies, especially home owners (here’s why). 

A decisive political victory and another rate drop both pump confidence in the share market - so it’s no surprise that the benchmark ASX200 index climbed 3.8% to 8,434.7 points. 

So let’s take a look at the five best-performing ASX stocks in May 2025:

1. Technology One Ltd (ASX: TNE)

TechnologyOne is an Australian born software-as-a-service (SaaS) company. To put it simply, they provide big businesses (like government departments and universities) with the digital tools they need to stay organised and efficient. Buzz-word central.

In recent years, they’ve been trialling new technology  to stand out from their competitors…and their hard work is paying off. On May 20 they dropped their half yearly results which showed a 19% increase in revenue over the last 6 months, leading to a 36.6% hike in their share price. 

2.  Tabcorp Holdings Ltd (ASX: TAH)

Tabcorp is Australia’s largest gambling and entertainment company. They essentially operate their own universe of online and retail betting platforms, racing and sports channels, and gaming machines in Australia. 

In early May, Tabcorp received regulatory approval in NSW that allows punter to place live bets on Tabcorp’s app in pubs and clubs. Off the back of this news, their shares jumped a 26.8% in May. 

The bad news is that even after Tabcorp’s recovery in the last 30 days, shareholders are still down 5.7% over the last year.

3. Pro Medicus Ltd (ASX: PME)

Pro Medicus is an Australian medtech company. They specialise in medical imaging software used by hospitals around the world to view and manage CT scans and MRIs.

In May they landed a $20 million deal with the University of Iowa Health Care which investors loved, giving their share price a 22.9% boost. 

4. Web Travel Group Ltd (ASX: WEB)

Web Travel Group are like match-makers for your dream holiday. They operate a global business-to-business (B2B) travel marketplace that connects hotels and other travel services to travel agencies and tour guides.

Since splitting from their business-to-consumer (B2C) brand Webjet Group (ASX: WJL) in September last year, they’ve produced strong full year results, leading to a 22.4% increase in share price in May. 

5. Zip Co Ltd (ASX: ZIP)

If you’ve gone shopping in an Australian retail store, you’ve probably seen Zip at the checkout. Zip Co is a fintech company from Australia that provides ‘Buy Now Pay Later’ services without the traditional credit card. 

They’ve been on an upward trajectory since April, and continue to grow following RBA rate cuts (and potentially more consumer spending) leading to a share price bump of 15%. 

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