2 ASX growth shares I think have huge passive income potential

A lot of the ASX shares I run my slide rule over for passive income are of the blue-chip variety. But these two offer some strong share price growth potential as well.

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A lot of the ASX shares I run my slide rule over for their passive income potential are of the blue-chip variety.

While these stocks certainly can also deliver share price growth, any annual growth is more likely to be in the single percentage digits. It's not until you add in the dividends that their appeal becomes clearer.

But that doesn't mean there aren't some very promising ASX growth shares that may deliver regular passive income along with some outsized share price gains.

Below are two such stocks that I believe have huge passive income potential.

ASX growth shares and passive income

First up, we have Altium Ltd (ASX: ALU). Altium shares are currently trading for $36.45, up 18.5% in 12 months.

The ASX tech share is a global market leader in providing specialist software for the design of printed circuit boards (PCBs) for electronics.

On the growth front, Altium reported US$120 million in revenue for its most recent half-year results, up 17% year on year. And profits after tax leapt by 30% to US$30 million for the six months ending 30 December.

On the passive income front, the ASX share paid an all-time high interim dividend of 25 Aussie cents, up 19%.

Atop the 26 cents per share final dividend (also a record high), that brings the full-year payout to 51 cents per share. This equates to a trailing yield of 1.4%, partly franked.

Just keep in mind we're talking about trailing yields and the past year's share price performance here. Future performance will depend on a range of company-specific and macroeconomic factors.

However, Altium's management has some optimistic plans, which include doubling the company's revenue to US$500 million by 2026.

And Morgan Stanley has an overweight rating on this ASX growth share, with a $43.50 price target.

That represents a 19% upside to the current share price, along with the passive income potential.

Also growing revenue and paying dividends

The second ASX growth share I think has some sizeable passive income potential is WiseTech Global Ltd (ASX: WTC).

Shares in the logistics software provider are currently trading for $79.96 apiece, up 62% in 12 months.

Created with Highcharts 11.4.3WiseTech Global PriceZoom1M3M6MYTD1Y5Y10YALLwww.fool.com.au

Like Altium, WiseTech also reported some strong numbers when it released its half-year results.

That included a 35% year-on-year increase in half-year revenue to $378 million. And underlying net profit after tax leapt 40% to $109 million.

As for passive income, WiseTech declared a record high 6.6 cents per share interim dividend, up 39%.

Adding in the record-high final dividend of 6.4 cents per share, and Altium delivered a full-year payout of 13 cents per share, fully franked.

At the current share price, that works out to a trailing yield of 0.16%. While that's hardly shooting the lights out in terms of passive income, I believe this ASX growth share might return a lot more profits to shareholders in the years to come.

Motley Fool contributor Bernd Struben has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has positions in and has recommended Altium and WiseTech Global. The Motley Fool Australia has positions in and has recommended WiseTech Global. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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