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: 7.04
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

$32.96

28 May
2025

0.280

OPEN

$32.68

0.86%

HIGH

$32.96

6,682,437

LOW

$32.25

TARGET
$36.168

-0.27 change from previous day

 9.7% upside
OTHER COMPANIES IN THE SAME SECTOR
CMW . CWP . FRI . FWD . GOZ . GPT . LIC . LLC . MGR . PPC . SFC . SGP . SIO . UOS .
FNARENA'S MARKET CONSENSUS FORECASTS
GMG: 1
Title FY23
Actual		 FY24
Actual		 FY25
Forecast		 FY26
Forecast
EPS (cps) xxx - 5.2 118.1 xxx
DPS (cps) xxx 30.0 30.0 xxx
EPS Growth xxx N/A N/A xxx
DPS Growth xxx 0.0% 0.1% xxx
PE Ratio xxx N/A 27.6 xxx
Dividend Yield xxx N/A 0.9% xxx
Div Pay Ratio(%) xxx N/A 25.4% xxx

Dividend yield today if purchased 3 years ago: 1.51%

DIVIDEND YIELD CALCULATOR

Dividend Yield Today On Last Actual Payout :

 0.92

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 201920202021202220232024
EPS Basic xxxxxxxxxxxxxxx-5.2
DPS All xxxxxxxxxxxxxxx30.0
Sales/Revenue xxxxxxxxxxxxxxx1,962.0 M
Book Value Per Share xxxxxxxxxxxxxxx923.4
Net Operating Cash Flow xxxxxxxxxxxxxxx1,188.6 M
Net Profit Margin xxxxxxxxxxxxxxx-5.04 %

EPS Basic

DPS All

Sales/Revenue

Book Value Per Share

Net Operating Cash Flow

Net Profit Margin

Title 201920202021202220232024
Return on Capital Employed xxxxxxxxxxxxxxx-0.56 %
Return on Invested Capital xxxxxxxxxxxxxxx-0.46 %
Return on Assets xxxxxxxxxxxxxxx-0.41 %
Return on Equity xxxxxxxxxxxxxxx-0.56 %
Return on Total Capital xxxxxxxxxxxxxxx2.40 %
Free Cash Flow ex dividends xxxxxxxxxxxxxxx610.7 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 201920202021202220232024
Short-Term Debt xxxxxxxxxxxxxxx11 M
Long Term Debt xxxxxxxxxxxxxxx3,712 M
Total Debt xxxxxxxxxxxxxxx3,723 M
Goodwill - Gross xxxxxxxxxxxxxxx-
Cash & Equivalents - Generic xxxxxxxxxxxxxxx1,785 M
Price To Book Value xxxxxxxxxxxxxxx3.76

Short-Term Debt

Long Term Debt

Total Debt

Goodwill - Gross

Cash & Equivalents - Generic

Price To Book Value

Title 201920202021202220232024
Capex xxxxxxxxxxxxxxx10.5 M
Capex % of Sales xxxxxxxxxxxxxxx0.54 %
Cost of Goods Sold xxxxxxxxxxxxxxx556 M
Selling, General & Admin. Exp & Other xxxxxxxxxxxxxxx894 M
Research & Development xxxxxxxxxxxxxxx-
Investments - Total xxxxxxxxxxxxxxx4,118 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

6
BROKER DATE RATING RECOMMENDATION TARGET PRICE % TO REACH TARGET COMMENTARY

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xx/xx/xxxx

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xx/xx/xxxx

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xxxxxxxxxx

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xx/xx/xxxx

3

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Morgans

29/05/2025

1

Add

$36.65

11.20%

Morgans notes that Goodman Group’s management reaffirmed FY25 EPS growth guidance of 9%, marking the first time since FY18 that the group has not upgraded its guidance in the third quarter.

Economic uncertainty was highlighted as a key factor affecting customer decision-making in the logistics market, though management emphasised that long-term demand remains intact. Data centre demand continues to be strong, with Goodman benefiting from its exposure to metropolitan areas with low-latency locations.

The broker notes that the yield on the cost of commencements stands at 9%, compared to a work-in-progress yield of 7.1%, indicating the profitability of recent project announcements.

The Add rating is retained, with Morgans emphasising that Goodman offers the highest quality exposure among its REIT coverage. The target price has been raised to $36.65 from $35.30.

FORECAST
Morgans forecasts a full year FY25 dividend of 30.00 cents and EPS of 117.00 cents.
Morgans forecasts a full year FY26 dividend of 30.00 cents and EPS of 131.00 cents.

Macquarie

xx/xx/xxxx

1

xxxxxxxxxx

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xx.xx%

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Citi

xx/xx/xxxx

1

xxx

$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

24/02/2025

1

Buy

$39.50

19.84%

Jarden notes Goodman Group's 1H25 result contained few surprises including $4bn equity raise, softer FY guidance and apparent delay in the announcement of the initial $10bn of projects.

The company maintained FY25 OEPS growth guidance at 9% (previously 9%) but the broker expected this to be 10% without the equity raise (forecast was 12.7%). 

The equity raise makes sense to benefit from the strong share price performance and increase working capital.

The broker has lowered FY25-26 expectations but believes the growth and return profile will step up over the next 3-5 years as the $100bn datacenter pipeline hits and operating leverage delivers.

Investors will need some patience, the broker says. Target price cut to $39.5. Buy rating maintained.

FORECAST
Jarden forecasts a full year FY25 dividend of 30.00 cents and EPS of 118.80 cents.
Jarden forecasts a full year FY26 dividend of 30.00 cents and EPS of 132.20 cents.
Access Extra Coverage Research History >

GMG STOCK CHART

FNArena News on GMG

1
Rudi’s View: Rate Cut Winners & AI Beneficiaries

May 22 2025 - Rudi's View
2
AI Investments Fuel Australia’s Data Centre Future

May 22 2025 - Feature Stories
3
Weekly Ratings, Targets, Forecast Changes – 16-05-25

May 19 2025 - Weekly Reports
4
Rudi’s View: 30 For ’30 & Best Buy Convictions

May 15 2025 - Rudi's View
5
April In Review: ASX Becomes Tariff Safe Haven

May 06 2025 - Australia

Latest Infra & Property Developers News

1
Treasure Chest: Goodman Group’s Data Centres

Apr 02 2025 - Treasure Chest
2
Treasure Chest: Stockland

Jan 15 2025 - Treasure Chest
3
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Jul 16 2024 - Technicals
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ESG Focus: Do Data Centres Threaten ESG Targets?

Jun 24 2024 - ESG Focus
6
Goodman Group’s Upward Momentum Continues

Jun 11 2024 - Technicals
7
Lendlease: Bringing It Back Home

May 30 2024 - Australia
8
Goodman Group Powers On

May 09 2024 - Australia
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Aug 22 2023 - Technicals
10
Goodman Group: Breaking Out

May 02 2023 - Technicals