GENERATION DEVELOPMENT GROUP LIMITED (GDG)
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GDG

GDG - GENERATION DEVELOPMENT GROUP LIMITED

Year End: June
GICS Industry Group : Insurance
Debt/EBITDA: 0.01
Index: ASX300 | ALL-ORDS

LAST PRICE CHANGE +/- CHANGE % VOLUME

$4.31

05 May
2025

0.160

OPEN

$4.23

3.86%

HIGH

$4.36

1,627,169

LOW

$4.23

TARGET
$5.45 26.5% 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 2.0 xxx
EPS Growth xxx 29.7% 100.0% xxx
DPS Growth xxx 1.4% 2.7% xxx
PE Ratio xxx N/A 52.4 xxx
Dividend Yield xxx N/A 0.5% xxx
Div Pay Ratio(%) xxx 65.6% 24.2% xxx

Dividend yield today if purchased 3 years ago: 1.16%

DIVIDEND YIELD CALCULATOR

Dividend Yield Today On Last Actual Payout :

0.45

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

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

Morgans

xx/xx/xxxx

1

xxx

$xx.xx

xx.xx%

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

28/04/2025

1

Overweight

$5.65

31.09%

Morgan Stanley highlights Generation Development shares declined -15% after the 3Q25 results, which were mixed, the broker states, with investment bonds and Lonsec Managed Account inflows better than expected, but market movements and inflows from Evidentia impacted the latter's funds under management (FUM).

The analyst stresses Evidentia now needs a substantial gain in FUM for 4Q25 to achieve guidance of $18.5bn.

Investment bonds continued the robust momentum into the March quarter with inflows rising 63% on a year earlier, and this could grow if the Labour government is re-elected and passes legislation to double the tax rate on Super account balances over $3m to 30%.

The broker explains the tailwinds are positive for Evidentia and managed accounts, with the problems in this quarter due to timing issues.

Morgan Stanley lowers EPS estimates by -2% to -5% for FY25/FY26, with target price slipping to $5.65 from $6.30.

Overweight rating retained. Industry view: In-Line.

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 3.40 cents and EPS of 12.00 cents.

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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Login above or Get a Free Trial

Petra Capital

06/03/2025

1

Upgrade to Buy from Hold

$5.58

29.47%

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.

GDG STOCK CHART