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: 0.01
Index: ALL-ORDS

LAST PRICE CHANGE +/- CHANGE % VOLUME

$4.97

24 Mar
2025

0.120

OPEN

$4.93

2.47%

HIGH

$5.01

1,262,347

LOW

$4.77

TARGET
$5.897 18.6% upside
Franking for last dividend paid out: 100%
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FNARENA'S MARKET CONSENSUS FORECASTS
GDG: 1
Title FY23
Actual		 FY24
Actual		 FY25
Forecast		 FY26
Forecast
EPS (cps) xxx 3.0 8.3 xxx
DPS (cps) xxx 1.9 2.2 xxx
EPS Growth xxx 29.7% 100.0% xxx
DPS Growth xxx 1.4% 14.7% xxx
PE Ratio xxx N/A 60.8 xxx
Dividend Yield xxx N/A 0.4% xxx
Div Pay Ratio(%) xxx 65.6% 27.0% xxx

Dividend yield today if purchased 3 years ago: 1.30%

DIVIDEND YIELD CALCULATOR

Dividend Yield Today On Last Actual Payout :

 0.39

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 201920202021202220232024
EPS Basic xxxxxxxxxxxxxxx3.0
DPS All xxxxxxxxxxxxxxx1.9
Sales/Revenue xxxxxxxxxxxxxxx109.2 M
Book Value Per Share xxxxxxxxxxxxxxx77.1
Net Operating Cash Flow xxxxxxxxxxxxxxx20.0 M
Net Profit Margin xxxxxxxxxxxxxxx5.35 %

EPS Basic

DPS All

Sales/Revenue

Book Value Per Share

Net Operating Cash Flow

Net Profit Margin

Title 201920202021202220232024
Return on Capital Employed xxxxxxxxxxxxxxx4.32 %
Return on Invested Capital xxxxxxxxxxxxxxx4.23 %
Return on Assets xxxxxxxxxxxxxxx0.18 %
Return on Equity xxxxxxxxxxxxxxx4.32 %
Return on Total Capital xxxxxxxxxxxxxxx201.93 %
Free Cash Flow ex dividends xxxxxxxxxxxxxxx16.4 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 xxxxxxxxxxxxxxx1 M
Long Term Debt xxxxxxxxxxxxxxx3 M
Total Debt xxxxxxxxxxxxxxx3 M
Goodwill - Gross xxxxxxxxxxxxxxx1 M
Cash & Equivalents - Generic xxxxxxxxxxxxxxx3,539 M
Price To Book Value xxxxxxxxxxxxxxx3.33

Short-Term Debt

Long Term Debt

Total Debt

Goodwill - Gross

Cash & Equivalents - Generic

Price To Book Value

Title 201920202021202220232024
Capex xxxxxxxxxxxxxxx0.1 M
Capex % of Sales xxxxxxxxxxxxxxx0.14 %
Cost of Goods Sold xxxxxxxxxxxxxxx18 M
Selling, General & Admin. Exp & Other xxxxxxxxxxxxxxx-190 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

1.0

No. Of Recommendations

3
BROKER DATE RATING RECOMMENDATION TARGET PRICE % TO REACH TARGET COMMENTARY

Morgans

xx/xx/xxxx

1

xxx

$xx.xx

xx.xx%

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Morgan Stanley

07/03/2025

1

Overweight

$6.30

26.76%

Morgan Stanley analysts have maintained an Overweight rating on Generation Development Group, keeping the price target at $6.30.

The company’s latest update highlights strong near-term momentum across key segments, the broker comments, with FY25 EBITDA for Lonsec expected to reach $30.2m, implying potential upside to earn-out hurdles.

Investment Bonds continue to gain market share, benefiting from regulatory uncertainty around superannuation, while Managed Accounts are positioned for structural growth as adviser adoption increases.

Management sees further revenue synergies from recent acquisitions, including cross-selling opportunities between Investment Bonds and Lonsec.

The broker views Generation Development as well placed for ASX300 inclusion and remains positive on its long-term growth outlook.

FORECAST
Morgan Stanley forecasts a full year FY25 dividend of 2.00 cents and EPS of 8.00 cents.
Morgan Stanley forecasts a full year FY26 dividend of 3.60 cents and EPS of 11.90 cents.

Ord Minnett

xx/xx/xxxx

1

xxx

$xx.xx

xx.xx%

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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

Moelis

xx/xx/xxxx

1

xx-xxxxxxx xx xxx

$xx.xx

xx.xx%

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Petra Capital

06/03/2025

1

Upgrade to Buy from Hold

$5.58

12.27%

Generation Development's half year result exceeded expectations, with strong revenue and (earnings) EBITDA growth in the Lonsec division, Petra Capital notes.

Revenue rose 23% and underlying net profit after tax advanced 50% to $12.4m. Genlife’s revenue margin improved, with bonds written trending significantly higher on an annualised basis.

Active independent financial advisers transacting with Genlife increased 16% year-on-year, and new investment bonds grew 42%.

Lonsec’s eanrings margin expanded to 42% from 38%, driven by higher LIS margins and stronger research division performance, the broker explains.

Petra Capital expects a higher dividend payout ratio from FY26, supported by the retirement of Lonsec debt and the achievement of earnout targets.

Target price rises $5.58 from $5.18, with a rating upgraded to Buy from Hold.

FORECAST
Petra Capital forecasts a full year FY25 dividend of 2.00 cents and EPS of 8.80 cents.
Petra Capital forecasts a full year FY26 dividend of 3.70 cents and EPS of 12.50 cents.
Access Extra Coverage Research History >

GDG STOCK CHART

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