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

$34.04

27 Aug
2025

-0.010

OPEN

$34.18

-0.03%

HIGH

$34.26

7,028,405

LOW

$33.72

TARGET
$37.64 10.6% 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 85.4 130.0 xxx
DPS (cps) xxx 30.0 30.0 xxx
EPS Growth xxx N/A 52.2% xxx
DPS Growth xxx 0.0% 0.0% xxx
PE Ratio xxx N/A 26.6 xxx
Dividend Yield xxx N/A 0.9% xxx
Div Pay Ratio(%) xxx 35.1% 23.1% xxx

Dividend yield today if purchased 3 years ago: 1.46%

DIVIDEND YIELD CALCULATOR

Dividend Yield Today On Last Actual Payout :

 0.87

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

0.4

No. Of Recommendations

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

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Macquarie

22/08/2025

3

Neutral

$34.73

2.03%

Goodman Group's FY25 operating earnings rose 9.8%, ahead of guidance and broadly in line with consensus. FY26 guidance for growth of 9% is below consensus and Macquarie.

Management is confident development work-in-progress will be greater than $15bn with the addition of further data centre commencements. Data centres now comprise 57% of work-in-progress (WIP), with significant projects expected to commence by June-26.

Goodman has commenced the equity raise process for Australia (90MW data centre capacity) and Europe (425MW).

Goodman continues to look relatively attractive compared to large market-cap industrials, Macquarie suggests, however is still seen trading at fair value.

Target falls to $34.73 from $35.24, Neutral retained.

FORECAST
Macquarie forecasts a full year FY26 dividend of 30.00 cents and EPS of 129.00 cents.
Macquarie forecasts a full year FY27 dividend of 30.00 cents and EPS of 142.00 cents.

UBS

xx/xx/xxxx

3

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Morgan Stanley

xx/xx/xxxx

1

xxxxxxxxxx

$xx.xx

xx.xx%

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Ord Minnett

xx/xx/xxxx

4

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$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

26/08/2025

1

Buy

$41.10

20.74%

Goodman Group's FY25 operating EPS beat Jarden's forecast by 0.3% but met the consensus.

The broker notes data centre development pipeline is expanding, with Work in Progress expected to rebound from below $13bn in FY25 to  over $15bn by 1H26, supported by new projects in Paris, Artarmon, and others.

The broader development pipeline remains large at over $100bn and continues to grow with new global sites. The company raised a record $4.2bn equity in FY25, supporting new data centre capital partnerships.

Minor changes to FFO forecasts to reflect the data centre pipeline momentum and partnerships. Target rises to $41.10 from $39.00 on roll forward.

Buy retained. The broker sees the stock as its highest quality pick in the sector with impressive growth outlook.

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
Australian Broker Call *Extra* Edition – Aug 26, 2025

Aug 26 2025 - Daily Market Reports
2
Weekly Ratings, Targets, Forecast Changes – 22-08-25

Aug 25 2025 - Weekly Reports
3
Relax, Goodman’s Playing The Long Game

Aug 25 2025 - Australia
4
FNArena Corporate Results Monitor – 22-08-2025

Aug 22 2025 - Australia
5
Rudi’s View: BlueScope Steel, IGO, GrainCorp, Pilbara Minerals, Santos & More

Aug 14 2025 - Rudi's View

Latest Infra & Property Developers News

1
Relax, Goodman’s Playing The Long Game

Aug 25 2025 - Australia
2
Goodman Group Revels In Data Centres Hot Seat

Jun 03 2025 - Australia
3
Treasure Chest: Goodman Group’s Data Centres

Apr 02 2025 - Treasure Chest
4
Treasure Chest: Stockland

Jan 15 2025 - Treasure Chest
5
GPT Group On The Up

Jul 16 2024 - Technicals
6
Treasure Chest: Stockland

Jun 26 2024 - Treasure Chest
7
ESG Focus: Do Data Centres Threaten ESG Targets?

Jun 24 2024 - ESG Focus
8
Goodman Group’s Upward Momentum Continues

Jun 11 2024 - Technicals
9
Lendlease: Bringing It Back Home

May 30 2024 - Australia
10
Goodman Group Powers On

May 09 2024 - Australia