GENERATION DEVELOPMENT GROUP LIMITED (GDG)
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GDG

GDG - GENERATION DEVELOPMENT GROUP LIMITED

FNArena Sector : Wealth Management & Investments
Year End: June
GICS Industry Group : Insurance
Debt/EBITDA: 0.02
Index: ASX200 | ASX300 | ALL-ORDS

LAST PRICE CHANGE +/- CHANGE % VOLUME

$6.45

11 Sep
2025

0.120

OPEN

$6.34

1.90%

HIGH

$6.51

1,010,407

LOW

$6.32

TARGET
$7.495 16.2% upside
Franking for last dividend paid out: 100%
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FNARENA'S MARKET CONSENSUS FORECASTS
GDG: 1
Title FY24
Actual		 FY25
Actual		 FY26
Forecast		 FY27
Forecast
EPS (cps) xxx 11.6 10.6 xxx
DPS (cps) xxx 2.0 2.7 xxx
EPS Growth xxx 100.0% - 9.3% xxx
DPS Growth xxx 2.7% 32.5% xxx
PE Ratio xxx N/A 64.2 xxx
Dividend Yield xxx N/A 0.4% xxx
Div Pay Ratio(%) xxx 17.2% 25.1% xxx

Dividend yield today if purchased 3 years ago: 1.44%

DIVIDEND YIELD CALCULATOR

Dividend Yield Today On Last Actual Payout :

 0.30

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: 11/03 - ex-div 1c (franking 50%)

HISTORICAL DATA ARE ALL IN AUD
Copyright © 2025 FactSet UK Limited. All rights reserved
Title 202020212022202320242025
EPS Basic xxxxxxxxxxxxxxx11.6
DPS All xxxxxxxxxxxxxxx2.0
Sales/Revenue xxxxxxxxxxxxxxx219.5 M
Book Value Per Share xxxxxxxxxxxxxxx178.3
Net Operating Cash Flow xxxxxxxxxxxxxxx21.9 M
Net Profit Margin xxxxxxxxxxxxxxx17.42 %

EPS Basic

DPS All

Sales/Revenue

Book Value Per Share

Net Operating Cash Flow

Net Profit Margin

Title 202020212022202320242025
Return on Capital Employed xxxxxxxxxxxxxxx8.39 %
Return on Invested Capital xxxxxxxxxxxxxxx8.32 %
Return on Assets xxxxxxxxxxxxxxx0.83 %
Return on Equity xxxxxxxxxxxxxxx8.39 %
Return on Total Capital xxxxxxxxxxxxxxx79.04 %
Free Cash Flow ex dividends xxxxxxxxxxxxxxx12.5 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 xxxxxxxxxxxxxxx2 M
Long Term Debt xxxxxxxxxxxxxxx5 M
Total Debt xxxxxxxxxxxxxxx7 M
Goodwill - Gross xxxxxxxxxxxxxxx577 M
Cash & Equivalents - Generic xxxxxxxxxxxxxxx4,661 M
Price To Book Value xxxxxxxxxxxxxxx3.08

Short-Term Debt

Long Term Debt

Total Debt

Goodwill - Gross

Cash & Equivalents - Generic

Price To Book Value

Title 202020212022202320242025
Capex xxxxxxxxxxxxxxx4.1 M
Capex % of Sales xxxxxxxxxxxxxxx1.89 %
Cost of Goods Sold xxxxxxxxxxxxxxx40 M
Selling, General & Admin. Exp & Other xxxxxxxxxxxxxxx-185 M
Research & Development xxxxxxxxxxxxxxx-
Investments - Total xxxxxxxxxxxxxxx0 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

2
BROKER DATE RATING RECOMMENDATION TARGET PRICE % TO REACH TARGET COMMENTARY

Morgan Stanley

xx/xx/xxxx

1

xxxxxxxxxx

$xx.xx

xx.xx%

Broker commentary and detailed analysis is available for Full Members Only.
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Morgans

29/08/2025

2

Accumulate

$7.49

16.12%

Morgans points to the standout result from Lonsec as a factor underpinning the better than expected FY25 net profit after tax result for Generation Development, up 170% on FY24 and a 13% beat on consensus.

A lower tax payment of -$2m versus the analyst's forecast of -$4m also benefitted results, while investment bond and Evidentia results were broadly as expected.

Evidentia FUM missed at $14.8bn versus forecast of $18.5bn, but revenue still grew by 63% and net profit more than doubled. The integration of Lonsec and Evidentia has caused some indigestion in near term growth.

Management pointed to ongoing robust sales momentum for both Investment Bonds and Managed Accounts.

Morgans tweaks its EPS forecasts lower by -2% and -3% for FY26 and FY27, on higher interest costs. Target price moves to $7.49 from $6.25 with no change in Accumulate rating.

FORECAST
Morgans forecasts a full year FY26 dividend of 2.30 cents and EPS of 11.00 cents.
Morgans forecasts a full year FY27 dividend of 4.00 cents and EPS of 15.00 cents.
Access Stockbroker Research History >
EXTRA COVERAGE
Display All Commentary

No. Of Recommendations

2

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

Petra Capital

xx/xx/xxxx

3

xxxx

$xx.xx

xx.xx%

Broker commentary and detailed analysis is available for Full Members Only.
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Moelis

04/09/2025

1

Buy

$8.12

25.89%

Moelis assesses Generation Development's FY25 result as strong, with revenue beating its forecast by 1% and underlying net profit coming 12% ahead. 

The Generation Life business saw revenue grow 29% y/y, Lonsec grew 18% and Evidentia rose 63%.

The broker notes legislative tailwinds support investment bonds and retirement solutions and the BlackRock partnership is driving new Life Income product growth. 

Managed accounts are forecast to more than double to $474bn by 2030, and the company is seen as well-positioned to benefit.

FY26-28 revenue forecasts lifted by 2.5-3.5%, but net profit for FY26 trimmed by -2.7% on higher earn-outs to Lonsec and CEO remuneration changes. FY27 net profit forecast lifted by 3.6%.

Buy. Target rises to $8.12 from $6.26.

FORECAST
Moelis forecasts a full year FY26 dividend of 4.10 cents and EPS of 10.20 cents.
Moelis forecasts a full year FY27 dividend of 5.90 cents and EPS of 14.50 cents.
Access Extra Coverage Research History >

GDG STOCK CHART

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