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

$6.34

17 Nov
2025

0.010

OPEN

$6.27

0.16%

HIGH

$6.34

1,761,114

LOW

$6.09

TARGET
$7.97 25.7% 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 10.9 xxx
DPS (cps) xxx 2.0 2.5 xxx
EPS Growth xxx 100.0% - 6.0% xxx
DPS Growth xxx 2.7% 23.3% xxx
PE Ratio xxx N/A 58.0 xxx
Dividend Yield xxx N/A 0.4% xxx
Div Pay Ratio(%) xxx 17.2% 22.6% xxx

Dividend yield today if purchased 3 years ago: 1.59%

DIVIDEND YIELD CALCULATOR

Dividend Yield Today On Last Actual Payout :

 0.32

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

3
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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Morgan Stanley

12/11/2025

1

Overweight

$7.50

18.30%

After attending Generation Development's Investor Day, Morgan Stanley notes earnings targets appear achievable. Management is guiding to $10bn in investment bond funds under management (FUM) and $75bn in Evidentia FUM within 3-5 years.

The broker points to a strong performance-driven culture and structural tailwinds from higher incomes, tax changes, and ageing demographics.

M&A opportunities are seen as additive, while Lonsec’s brand strength and Evidentia’s scale economics underpin the group's competitive advantage, in the analysts' opinion.

Overweight. Target unchanged at $7.50. Industry view: In Line.

FORECAST
Morgan Stanley forecasts a full year FY26 dividend of 3.00 cents and EPS of 11.00 cents.
Morgan Stanley forecasts a full year FY27 dividend of 4.80 cents and EPS of 14.00 cents.

Morgans

xx/xx/xxxx

2

xxxxxxxxxx

$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

xxx

$xx.xx

xx.xx%

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Petra Capital

13/11/2025

1

Buy

$7.35

15.93%

As outlined at Generation Development's AGM by management, the managed account market is flagged to grow to $520bn by FY30, a CAGR of 15% between FY25-FY30, and remains an underexposed area with just 16%.

The analyst believes the company is well positioned in investment bonds and has the opportunity to achieve similar success in annuities, even though it has just $65m in annuities currently, but has shown success in competing and taking market share from incumbents.

Target price is raised to $7.35 from $7.17.

FORECAST
Petra Capital forecasts a full year FY26 dividend of 2.50 cents and EPS of 11.20 cents.
Petra Capital forecasts a full year FY27 dividend of 4.90 cents and EPS of 14.10 cents.
Access Extra Coverage Research History >

GDG STOCK CHART

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