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: 0.12
Index: ASX200 | ASX300 | ALL-ORDS

Generation Development Group provides investment bonds, managed accounts, investment research and financial-platform services.

LAST PRICE CHANGE +/- CHANGE % VOLUME

$3.06

02 Sep
2026

0.000

OPEN

$2.98

0.000

HIGH

$3.13

2,204,310

LOW

$2.95

TARGET
$5.38 75.8% upside
Franking for last dividend paid out: 100%
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FNARENA'S MARKET CONSENSUS FORECASTS
GDG: 1
Title FY25
Actual		 FY26
Actual		 FY27
Forecast		 FY28
Forecast
EPS (cps) xxx 8.0 12.5 xxx
DPS (cps) xxx 2.0 3.0 xxx
EPS Growth xxx - 31.1% 55.4% xxx
DPS Growth xxx 0.0% 50.0% xxx
PE Ratio xxx N/A 25.2 xxx
Dividend Yield xxx N/A 1.0% xxx
Div Pay Ratio(%) xxx 25.0% 24.1% xxx

Dividend yield today if purchased 3 years ago: 1.43%

DIVIDEND YIELD CALCULATOR

Dividend Yield Today On Last Actual Payout :

 0.64

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: 10/03 - ex-div 1.00c (franking 100%)

HISTORICAL DATA ARE ALL IN AUD
Copyright © 2026 FactSet UK Limited. All rights reserved
Title 202120222023202420252026
EPS Basic xxxxxxxxxxxxxxx8.0
DPS All xxxxxxxxxxxxxxx2.0
Sales/Revenue xxxxxxxxxxxxxxx364.0 M
Book Value Per Share xxxxxxxxxxxxxxx182.9
Net Operating Cash Flow xxxxxxxxxxxxxxx38.6 M
Net Profit Margin xxxxxxxxxxxxxxx8.77 %

EPS Basic

DPS All

Sales/Revenue

Book Value Per Share

Net Operating Cash Flow

Net Profit Margin

Title 202120222023202420252026
Return on Capital Employed xxxxxxxxxxxxxxx4.46 %
Return on Invested Capital xxxxxxxxxxxxxxx4.31 %
Return on Assets xxxxxxxxxxxxxxx0.50 %
Return on Equity xxxxxxxxxxxxxxx4.46 %
Return on Total Capital xxxxxxxxxxxxxxx51.07 %
Free Cash Flow ex dividends xxxxxxxxxxxxxxx30.1 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 202120222023202420252026
Short-Term Debt xxxxxxxxxxxxxxx2 M
Long Term Debt xxxxxxxxxxxxxxx45 M
Total Debt xxxxxxxxxxxxxxx47 M
Goodwill - Gross xxxxxxxxxxxxxxx517 M
Cash & Equivalents - Generic xxxxxxxxxxxxxxx6,244 M
Price To Book Value xxxxxxxxxxxxxxx1.96

Short-Term Debt

Long Term Debt

Total Debt

Goodwill - Gross

Cash & Equivalents - Generic

Price To Book Value

Title 202120222023202420252026
Capex xxxxxxxxxxxxxxx7.0 M
Capex % of Sales xxxxxxxxxxxxxxx1.93 %
Cost of Goods Sold xxxxxxxxxxxxxxx59 M
Selling, General & Admin. Exp & Other xxxxxxxxxxxxxxx-74 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

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

Bell Potter

xx/xx/xxxx

1

xxx

$xx.xx

xx.xx%

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Morgans

xx/xx/xxxx

1

xxx

$xx.xx

xx.xx%

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Macquarie

xx/xx/xxxx

1

xxxxxxxxxx

$xx.xx

xx.xx%

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Citi

28/08/2026

1

Buy

$5.00

63.40%

Generation Development's FY26 profit rose 21% y/y, although the result was not as strong as Citi had hoped, with softer-than-expected 2H revenue yields partly reflecting timing and potentially persistent fee tiering and mix shifts.

FY27 cost growth guidance of around 26% y/y is broadly in line with expectations, with investment supporting the structural growth outlook for managed accounts and investment bonds.

The broker cuts FY27 EPS forecasts by -11% and FY28 EPS by -9%, mainly due to lower revenue yields and higher tax, with stronger operating leverage now skewed towards FY28-FY29.

Buy retained but the target price is lowered to $5.00 from $5.70.

Morgan Stanley

xx/xx/xxxx

1

xxxxxxxxxx

$xx.xx

xx.xx%

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Ord Minnett

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

Moelis

30/08/2026

1

Buy

$6.21

102.94%

Moelis retains a Buy rating for Generation Development with its target price decreased to $6.21 from $6.96 following an FY26 result featuring a group NPAT of $40.7m.

The analyst notes earnings per share estimate revisions largely stem from a lower group net tax benefit alongside higher tax expenses.

Management flagged material cost investment in FY27, adding approximately $30m to the cost base primarily across Investment Bonds and Evidentia.

The broker assumes $1.9bn in sales inflows for Investment Bonds and $6.3bn in net flows for Managed Accounts during FY27.

Significant structural tailwinds will likely drive continued flows and subsequent margin performance across the forecast period, commentary concludes.

FORECAST
Moelis forecasts a full year FY27 dividend of 2.00 cents and EPS of 12.10 cents.
Moelis forecasts a full year FY28 dividend of 2.00 cents and EPS of 14.90 cents.
Access Extra Coverage Research History >

GDG STOCK CHART

FNArena News on GDG

1
Australian Broker Call *Extra* Edition – Aug 31, 2026

Aug 31 2026 - Daily Market Reports
2
FNArena Corporate Results Monitor – 28-08-2026

Aug 28 2026 - Australia
3
Rudi’s View: Final Preparations For August

Aug 05 2026 - Rudi's View
4
Australian Broker Call *Extra* Edition – Jul 27, 2026

Jul 27 2026 - Daily Market Reports
5
Rudi’s View: Pre-August Picks In Resources, Retail & Small Caps

Jul 23 2026 - Rudi's View

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