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

$28.05

14 Apr
2026

0.430

OPEN

$28.41

1.56%

HIGH

$28.65

5,940,507

LOW

$28.05

TARGET
$34.526 23.1% 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 85.4 129.5 xxx
DPS (cps) xxx 30.0 30.0 xxx
EPS Growth xxx N/A 51.6% xxx
DPS Growth xxx 0.0% 0.0% xxx
PE Ratio xxx N/A 21.9 xxx
Dividend Yield xxx N/A 1.1% xxx
Div Pay Ratio(%) xxx 35.1% 23.2% xxx

Dividend yield today if purchased 3 years ago: 1.56%

DIVIDEND YIELD CALCULATOR

Dividend Yield Today On Last Actual Payout :

 1.06

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-div 15c)

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

0.9

No. Of Recommendations

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

Morgan Stanley

xx/xx/xxxx

1

xxxxxxxxxx

$xx.xx

xx.xx%

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UBS

xx/xx/xxxx

1

xxx

$xx.xx

xx.xx%

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Ord Minnett

xx/xx/xxxx

3

xxxx

$xx.xx

xx.xx%

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Macquarie

07/04/2026

1

Outperform

$32.03

14.19%

Higher interest rate expectations have driven low single-digit reductions to Macquarie’s REIT earnings forecasts from FY27 onwards.

The broker anticipates a structural re-rating for Retail and Industrial sectors, while Office faces de-rating risk amid growing concerns over the impact of AI on long-term space demand.

In residential, higher interest rates are expected to weigh on sales volumes and prices, with elevated construction costs, driven by oil prices and supply chain disruptions, adding further pressure on margins and earnings.

More broadly, higher nominal and real bond yields, alongside elevated geopolitical risk, are likely to dampen equity inflows into real estate, constraining assets under management (AUM) growth and funds management earnings.

The target for Goodman Group falls to $32.03 from $32.20. Outperform rating maintained.

FORECAST
Macquarie forecasts a full year FY26 dividend of 30.00 cents and EPS of 128.70 cents.
Macquarie forecasts a full year FY27 dividend of 30.00 cents and EPS of 141.00 cents.

Morgans

xx/xx/xxxx

1

xxxxxxx xx xxx xxxx xxxxxxxxxx

$xx.xx

xx.xx%

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Citi

xx/xx/xxxx

1

xxx

$xx.xx

xx.xx%

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Bell Potter

xx/xx/xxxx

1

xxx

$xx.xx

(xx/xx/xxxx)

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

26/02/2026

1

Buy

$36.80

31.19%

Jarden highlights interim operating EPS for Goodman Group beat forecasts by the broker and consensus by 4% and 8%, respectively. This outperformance is attributed to higher development earnings, lower corporate costs and lower interest and tax.

Property investment and management fees were below the analysts' forecasts. Performance fees fell to $79m from $258m in the prior year.

FY26 guidance for 9% operating EPS growth is unchanged. The analysts see data centre leasing and development returns as key focus areas.

2026 is expected to be catalyst-rich across leasing and capital partnerships, though the broker notes downside risk from delays in data centre construction or tenant signings.

Jarden lowers its target price to $36.80 from $40.00. Buy maintained.

FORECAST
Jarden forecasts a full year FY26 dividend of 30.00 cents and EPS of 129.80 cents.
Jarden forecasts a full year FY27 dividend of 30.00 cents and EPS of 146.00 cents.
Access Extra Coverage Research History >

GMG STOCK CHART

FNArena News on GMG

1
Assessing Real Estate’s AI Future

Apr 09 2026 - Australia
2
March In Review: Oil Price Up, Shares Down

Apr 02 2026 - Australia
3
Weekly Ratings, Targets, Forecast Changes – 27-03-26

Mar 30 2026 - Weekly Reports
4
Rudi’s View: Top Picks & Conviction Buys

Mar 19 2026 - Rudi's View
5
Rudi’s View: Post-February Conviction Calls

Mar 12 2026 - Rudi's View

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