GOODMAN GROUP (GMG)
Share Price Analysis and Chart

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GMG

GMG - GOODMAN GROUP

FNArena Sector : Infra & Property Developers
Year End: June
GICS Industry Group : Real Estate
Debt/EBITDA: 10.62
Index: ASX20 | ASX50 | ASX100 | ASX200 | ASX300 | ALL-ORDS

Goodman Group is an Australian commercial and industrial property group that owns, develops and manages warehouses, large scale logistics facilities, business and office parks in 17 countries. First listed in February 2005.

LAST PRICE CHANGE +/- CHANGE % VOLUME

$30.95

11 Nov
2025

0.460

OPEN

$30.70

1.51%

HIGH

$31.16

3,942,970

LOW

$30.65

TARGET
$37.277 20.4% upside
OTHER COMPANIES IN THE SAME SECTOR
CMW . CWP . FRI . FWD . GLF . GOZ . GPT . LIC . LLC . MGR . PPC . SFC . SGP . SIO . UOS .
FNARENA'S MARKET CONSENSUS FORECASTS
GMG: 1
Title FY24
Actual		 FY25
Actual		 FY26
Forecast		 FY27
Forecast
EPS (cps) xxx 85.4 129.7 xxx
DPS (cps) xxx 30.0 30.0 xxx
EPS Growth xxx N/A 51.8% xxx
DPS Growth xxx 0.0% 0.0% xxx
PE Ratio xxx N/A 23.5 xxx
Dividend Yield xxx N/A 1.0% xxx
Div Pay Ratio(%) xxx 35.1% 23.1% xxx

Dividend yield today if purchased 3 years ago: 1.64%

DIVIDEND YIELD CALCULATOR

Dividend Yield Today On Last Actual Payout :

 0.98

Estimated Dividend Growth
(Average Of Past Three Years)

  %

Amount Invested

 $ 

Tell Me The Dividend After This Many Years
Past performance is no guarantee for the future. Investors should take into account that heavy swings in share price or exceptional circumstances (a la 2009) can have a significant impact on short term calculations and averages

Last ex-div: 30/12 - (franking ex-di

HISTORICAL DATA ARE ALL IN AUD
Copyright © 2025 FactSet UK Limited. All rights reserved
Title 202020212022202320242025
EPS Basic xxxxxxxxxxxxxxx85.4
DPS All xxxxxxxxxxxxxxx30.0
Sales/Revenue xxxxxxxxxxxxxxx2,293.0 M
Book Value Per Share xxxxxxxxxxxxxxx1,147.6
Net Operating Cash Flow xxxxxxxxxxxxxxx959.6 M
Net Profit Margin xxxxxxxxxxxxxxx72.67 %

EPS Basic

DPS All

Sales/Revenue

Book Value Per Share

Net Operating Cash Flow

Net Profit Margin

Title 202020212022202320242025
Return on Capital Employed xxxxxxxxxxxxxxx8.16 %
Return on Invested Capital xxxxxxxxxxxxxxx6.76 %
Return on Assets xxxxxxxxxxxxxxx6.00 %
Return on Equity xxxxxxxxxxxxxxx8.16 %
Return on Total Capital xxxxxxxxxxxxxxx1.92 %
Free Cash Flow ex dividends xxxxxxxxxxxxxxx381.6 M

Return on Capital Employed

Return on Invested Capital

Return on Assets

Return on Equity

Return on Total Capital

Free Cash Flow ex dividends

Title 202020212022202320242025
Short-Term Debt xxxxxxxxxxxxxxx556 M
Long Term Debt xxxxxxxxxxxxxxx4,719 M
Total Debt xxxxxxxxxxxxxxx5,275 M
Goodwill - Gross xxxxxxxxxxxxxxx-
Cash & Equivalents - Generic xxxxxxxxxxxxxxx3,957 M
Price To Book Value xxxxxxxxxxxxxxx2.98

Short-Term Debt

Long Term Debt

Total Debt

Goodwill - Gross

Cash & Equivalents - Generic

Price To Book Value

Title 202020212022202320242025
Capex xxxxxxxxxxxxxxx6.4 M
Capex % of Sales xxxxxxxxxxxxxxx0.28 %
Cost of Goods Sold xxxxxxxxxxxxxxx790 M
Selling, General & Admin. Exp & Other xxxxxxxxxxxxxxx1,024 M
Research & Development xxxxxxxxxxxxxxx-
Investments - Total xxxxxxxxxxxxxxx7,328 M

Capex

Capex % of Sales

Cost of Goods Sold

Selling, General & Admin. Exp & Other

Research & Development

Investments - Total

EXPERT VIEWS
Display All Commentary

Sentiment Indicator

0.8

No. Of Recommendations

7
BROKER DATE RATING RECOMMENDATION TARGET PRICE % TO REACH TARGET COMMENTARY

Morgans

xx/xx/xxxx

2

xxxxxxxxxx

$xx.xx

xx.xx%

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Macquarie

xx/xx/xxxx

1

xxxxxxx xx xxxxxxxxxx xxxx xxxxxxx

$xx.xx

xx.xx%

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Citi

xx/xx/xxxx

1

xxx

$xx.xx

xx.xx%

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UBS

06/11/2025

1

Upgrade to Buy from Neutral

$36.41

17.64%

UBS notes Goodman Group's September quarter (1Q26) update fell short of high expectations amid slower perceived data centre (DC) progress. At the same time, management displayed confidence on the leasing side, the broker highlights.

FY26 operating EPS guidance was re-iterated for 9% growth, though a stronger 2H skew is now expected (62% vs consensus of 52%). 

The broker is more focused on catalysts ahead including higher DC starts based on work-in-progress of $17.5bn, and capital partnering in Australia/Europe likely in 2H26).

The broker suggests patience with the stock as the DC thesis takes time to unfold.

Rating upgraded to Buy from Neutral on more attractive valuation after recent underperformance. Target trimmed to $36.41 from $36.63.

FORECAST
UBS forecasts a full year FY26 dividend of 30.00 cents and EPS of 130.00 cents.
UBS forecasts a full year FY27 dividend of 30.00 cents and EPS of 145.00 cents.

Ord Minnett

xx/xx/xxxx

3

xxxx

$xx.xx

xx.xx%

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Bell Potter

xx/xx/xxxx

1

xxx

$xx.xx

xx.xx%

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Morgan Stanley

xx/xx/xxxx

1

xxxxxxxxxx

$xx.xx

xx.xx%

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Access Stockbroker Research History >
EXTRA COVERAGE
Display All Commentary

No. Of Recommendations

1

Please note: unlike Broker Call Report, BC Extra is not updated daily. The info you see might not be the latest. FNArena does its best to update ASAP.

BROKER DATE RATING RECOMMENDATION TARGET PRICE % TO REACH TARGET COMMENTARY

Jarden

16/10/2025

1

Buy

$41.10

32.79%

Jarden believes the market is pricing in the broker's most "bearish" outcome for Goodman Group, which is considered very conservative and assumes a decline of -5% in the group's book value when logistics cap rates are starting to compress.

The market also appears to be discounting only $19.6bn of cumulative development profits over the next decade, against what the analyst expects to be at least $35-$40bn to be sourced from the data centre pipeline "alone."

Management anticipates logistics to generate 30%-40% of the future development mix, inferring cumulative development profits could beat $35bn-$40bn again over the next decade.

Jarden's bear case assumes management income will grow at a CAGR of 3.9% for FY26-FY29 versus a 21% CAGR achieved from FY15-FY25. Retain Buy with $41.10 target price.

FORECAST
Jarden forecasts a full year FY26 dividend of 30.00 cents and EPS of 130.40 cents.
Jarden forecasts a full year FY27 dividend of 30.00 cents and EPS of 146.70 cents.
Access Extra Coverage Research History >

GMG STOCK CHART

FNArena News on GMG

1
Rudi’s View: New Trends & Recurring Anxieties

Nov 12 2025 - Rudi's View
2
Weekly Ratings, Targets, Forecast Changes – 07-11-25

Nov 10 2025 - Weekly Reports
3
Rudi’s View: Amcor, Charter Hall, Challenger, Goodman, Woolworths & More

Nov 06 2025 - Rudi's View
4
Rudi’s View: What About The AI Bubble Anxiety?

Nov 05 2025 - Rudi's View
5
Rudi’s View: Eagers Automotive, Catapult, Fineos, Pro Medicus, Woolworths & More

Oct 30 2025 - Rudi's View

Latest Infra & Property Developers News

1
August 2025 Results – The Wrap

Sep 12 2025 - Feature Stories
2
GemLife: A Gemstone For Australia’s Downsizers

Sep 11 2025 - Small Caps
3
Relax, Goodman’s Playing The Long Game

Aug 25 2025 - Australia
4
Goodman Group Revels In Data Centres Hot Seat

Jun 03 2025 - Australia
5
Treasure Chest: Goodman Group’s Data Centres

Apr 02 2025 - Treasure Chest
6
Treasure Chest: Stockland

Jan 15 2025 - Treasure Chest
7
GPT Group On The Up

Jul 16 2024 - Technicals
8
Treasure Chest: Stockland

Jun 26 2024 - Treasure Chest
9
ESG Focus: Do Data Centres Threaten ESG Targets?

Jun 24 2024 - ESG Focus
10
Goodman Group’s Upward Momentum Continues

Jun 11 2024 - Technicals