GOODMAN GROUP (GMG)
Share Price Analysis and Chart

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GMG

GMG - GOODMAN GROUP

FNArena Sector : Infra & Property Developers
Year End: June
GICS Industry Group : Real Estate
Debt/EBITDA: 10.62
Index: ASX20 | ASX50 | ASX100 | ASX200 | ASX300 | ALL-ORDS

Goodman Group is an Australian commercial and industrial property group that owns, develops and manages warehouses, large scale logistics facilities, business and office parks in 17 countries. First listed in February 2005.

LAST PRICE CHANGE +/- CHANGE % VOLUME

$31.10

08 Jun
2026

0.000

OPEN

$31.10

0.000

HIGH

$31.10

0

LOW

$31.10

TARGET
$34.679 11.5% upside
OTHER COMPANIES IN THE SAME SECTOR
CMW . CWP . FRI . FWD . GLF . GOZ . GPT . LIC . LLC . MGR . PPC . SFC . SGP . SIO . UOS .
FNARENA'S MARKET CONSENSUS FORECASTS
GMG: 1
Title FY24
Actual		 FY25
Actual		 FY26
Forecast		 FY27
Forecast
EPS (cps) xxx 85.4 129.6 xxx
DPS (cps) xxx 30.0 30.0 xxx
EPS Growth xxx N/A 51.7% xxx
DPS Growth xxx 0.0% 0.0% xxx
PE Ratio xxx N/A 24.1 xxx
Dividend Yield xxx N/A 1.0% xxx
Div Pay Ratio(%) xxx 35.1% 23.2% xxx

Dividend yield today if purchased 3 years ago: 1.53%

DIVIDEND YIELD CALCULATOR

Dividend Yield Today On Last Actual Payout :

 0.96

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: 30/12 - (franking ex-div 15c)

HISTORICAL DATA ARE ALL IN AUD
Copyright © 2026 FactSet UK Limited. All rights reserved
Title 202020212022202320242025
EPS Basic xxxxxxxxxxxxxxx85.4
DPS All xxxxxxxxxxxxxxx30.0
Sales/Revenue xxxxxxxxxxxxxxx2,293.0 M
Book Value Per Share xxxxxxxxxxxxxxx1,147.6
Net Operating Cash Flow xxxxxxxxxxxxxxx959.6 M
Net Profit Margin xxxxxxxxxxxxxxx72.67 %

EPS Basic

DPS All

Sales/Revenue

Book Value Per Share

Net Operating Cash Flow

Net Profit Margin

Title 202020212022202320242025
Return on Capital Employed xxxxxxxxxxxxxxx8.16 %
Return on Invested Capital xxxxxxxxxxxxxxx6.76 %
Return on Assets xxxxxxxxxxxxxxx6.00 %
Return on Equity xxxxxxxxxxxxxxx8.16 %
Return on Total Capital xxxxxxxxxxxxxxx1.92 %
Free Cash Flow ex dividends xxxxxxxxxxxxxxx381.6 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 xxxxxxxxxxxxxxx556 M
Long Term Debt xxxxxxxxxxxxxxx4,719 M
Total Debt xxxxxxxxxxxxxxx5,275 M
Goodwill - Gross xxxxxxxxxxxxxxx-
Cash & Equivalents - Generic xxxxxxxxxxxxxxx3,957 M
Price To Book Value xxxxxxxxxxxxxxx2.98

Short-Term Debt

Long Term Debt

Total Debt

Goodwill - Gross

Cash & Equivalents - Generic

Price To Book Value

Title 202020212022202320242025
Capex xxxxxxxxxxxxxxx6.4 M
Capex % of Sales xxxxxxxxxxxxxxx0.28 %
Cost of Goods Sold xxxxxxxxxxxxxxx790 M
Selling, General & Admin. Exp & Other xxxxxxxxxxxxxxx1,024 M
Research & Development xxxxxxxxxxxxxxx-
Investments - Total xxxxxxxxxxxxxxx7,328 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

0.9

No. Of Recommendations

7
BROKER DATE RATING RECOMMENDATION TARGET PRICE % TO REACH TARGET COMMENTARY

UBS

xx/xx/xxxx

1

xxx

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Morgan Stanley

xx/xx/xxxx

1

xxxxxxxxxx

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xx.xx%

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Ord Minnett

xx/xx/xxxx

3

xxxx

$xx.xx

xx.xx%

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Bell Potter

27/05/2026

1

Buy

$35.50

14.15%

Bell Potter raises some questions post Goodman Group's 3Q26 update around the leasing progress, and the extension of timelines. The analyst believes the moat around scaled data centre players seems to be "widening". This reflects the scale and complexity of the sector.

Goodman reiterated FY26 operating EPS growth of 9%-plus y/y with no change in DPS guidance. The powerbank has risen by 7% to 6.4GW with additional contributions from A&NZ by 0.5GW to 2.1GW.

No change to work in progress by the end of FY26 to $18bn against $14.5bn at the end of the 3Q26. The broker notes major data centre projects in Europe are expected to generate a major lift in the 4Q26.

Target price slips to $35.50 from $36.45. No change to Buy rating.

FORECAST
Bell Potter forecasts a full year FY26 dividend of 30.00 cents and EPS of 128.80 cents.
Bell Potter forecasts a full year FY27 dividend of 30.00 cents and EPS of 141.10 cents.

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

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

Jarden

29/04/2026

1

Buy

$35.56

14.34%

Jarden updates forecasts and valuations for the A-REIT sector amid significant volatility in interest rates, which is expected to continue over the course of 2026.

The broker takes a more conservative approach to forecasts now, based on higher interest rates and revised operating and valuation assumptions.

Although investors may be reluctant to "stand in front of increasing interest rates" sufficient conservatism has been priced into the sector, Jarden asserts.

Buy rating retained for Goodman Group while target is reduced to $35.56 from $36.80.

FORECAST
Jarden forecasts a full year FY26 dividend of 30.00 cents and EPS of 129.80 cents.
Jarden forecasts a full year FY27 dividend of 30.00 cents and EPS of 144.00 cents.
Access Extra Coverage Research History >

GMG STOCK CHART

FNArena News on GMG

1
Rudi’s View: Australia’s Sh*t Sandwich

Jun 04 2026 - Rudi's View
2
May In Review: AI Momentum, Healthcare Pain

Jun 03 2026 - Australia
3
Rudi’s View: Tech Is Back (Ahead Of Tax Loss Selling)

Jun 03 2026 - Rudi's View
4
FNArena Corporate Results Monitor – 01-06-2026

Jun 01 2026 - Australia
5
Goodman Group Confident Of Contracts Flowing

Jun 01 2026 - Australia

Latest Infra & Property Developers News

1
Goodman Group Confident Of Contracts Flowing

Jun 01 2026 - Australia
2
August 2025 Results – The Wrap

Sep 12 2025 - Feature Stories
3
GemLife: A Gemstone For Australia’s Downsizers

Sep 11 2025 - Small Caps
4
Relax, Goodman’s Playing The Long Game

Aug 25 2025 - Australia
5
Goodman Group Revels In Data Centres Hot Seat

Jun 03 2025 - Australia
6
Treasure Chest: Goodman Group’s Data Centres

Apr 02 2025 - Treasure Chest
7
Treasure Chest: Stockland

Jan 15 2025 - Treasure Chest
8
GPT Group On The Up

Jul 16 2024 - Technicals
9
Treasure Chest: Stockland

Jun 26 2024 - Treasure Chest
10
ESG Focus: Do Data Centres Threaten ESG Targets?

Jun 24 2024 - ESG Focus