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

$30.75

05 Feb
2026

-0.010

OPEN

$30.51

-0.03%

HIGH

$30.90

3,134,243

LOW

$30.48

TARGET
$36.903 20.0% 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 85.4 131.0 xxx
DPS (cps) xxx 30.0 30.0 xxx
EPS Growth xxx N/A 53.3% xxx
DPS Growth xxx 0.0% 0.0% xxx
PE Ratio xxx N/A 22.1 xxx
Dividend Yield xxx N/A 1.0% xxx
Div Pay Ratio(%) xxx 35.1% 22.9% xxx

Dividend yield today if purchased 3 years ago: 1.50%

DIVIDEND YIELD CALCULATOR

Dividend Yield Today On Last Actual Payout :

 1.04

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 © 2026 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

UBS

xx/xx/xxxx

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xx/xx/xxxx

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xxx

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Macquarie

xx/xx/xxxx

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Morgan Stanley

21/01/2026

1

Overweight

$41.50

34.96%

Morgan Stanley takes a deeper dive into the potential profit pipeline from the European JV established with CPPIB in December, which transcends beyond just achieving a funding partner for Goodman Group.

The analyst expects around $4.5bn of add-on value in 4-5 years, from its estimate of $1.95bn equity contribution to the group for 50% stake. The market is underrating the significance of the JV, in the broker's opinion.

The JV pipeline is 471MW compared to the group's data centre pipeline of around 0.5GW, with the profit expected to come from the sale of land into the JV, development profit equating to circa $3bn of cash income and asset valuation lift.

The broker likes Goodman Group and sees the potential for an FY26 EPS upgrade in guidance at the 1H26 results, with a rise in work in progress to around $17bn by the end of FY26.

Overweight. Target $41.50. Industry View: In-Line.

FORECAST
Morgan Stanley forecasts a full year FY26 dividend of 30.00 cents and EPS of 129.00 cents.
Morgan Stanley forecasts a full year FY27 dividend of 30.00 cents and EPS of 144.70 cents.

Ord Minnett

xx/xx/xxxx

3

xxxx

$xx.xx

xx.xx%

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Citi

xx/xx/xxxx

1

xxx

$xx.xx

xx.xx%

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Morgans

xx/xx/xxxx

2

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

13/01/2026

1

Buy

$40.10

30.41%

Ahead of the February results season, sector analysts at Jarden have updated mark-to-market and valuations modeling, incorporating recent news flow and fresh insights.

Overall, sector earnings estimates have changed only slightly, and the same goes for valuations. The update has generated four changes in ratings for individual stocks in the sector.

Among the broker's most preferred names are Goodman Group, Mirvac Group and Arena REIT.

Buy maintained for Goodman. Target cut to $40.10 from $41.10.
Access Extra Coverage Research History >

GMG STOCK CHART

FNArena News on GMG

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2
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3
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Jan 29 2026 - Rudi's View
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Jan 22 2026 - Rudi's View
5
Australian Broker Call *Extra* Edition – Jan 19, 2026

Jan 19 2026 - Daily Market Reports

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