CHALLENGER LIMITED (CGF)
Share Price Analysis and Chart

Enter the company code or Name for stock analysis:

CGF

CGF - CHALLENGER LIMITED

FNArena Sector : Wealth Management & Investments
Year End: June
GICS Industry Group : Diversified Financials
Debt/EBITDA: N/A
Index: ASX100 | ASX200 | ASX300 | ALL-ORDS

Challenger Ltd is an Australian financial company that specialises in superannuation and annuities. It claims to be Australia's largest guaranteed income provider. Founded in 1985 it was listed in 2003.

LAST PRICE CHANGE +/- CHANGE % VOLUME

$8.82

27 Oct
2025

-0.040

OPEN

$8.88

-0.45%

HIGH

$8.92

1,612,920

LOW

$8.81

TARGET
$9.166 3.9% upside
Franking for last dividend paid out: 100%
OTHER COMPANIES IN THE SAME SECTOR
AEF . AMP . ASX . BVS . CVW . DJW . ENN . GDG . GQG . HMC . HUB . IFL . IFT . IRE . KAM . KSL . MAF . MFG . MQG . NGI . NWL . PAC . PNI . PPS . PPT . QAL . RPL . RZI . WHF .
FNARENA'S MARKET CONSENSUS FORECASTS
CGF: 1
Title FY24
Actual		 FY25
Actual		 FY26
Forecast		 FY27
Forecast
EPS (cps) xxx 28.0 64.2 xxx
DPS (cps) xxx 29.5 30.0 xxx
EPS Growth xxx 47.5% 100.0% xxx
DPS Growth xxx 11.3% 1.7% xxx
PE Ratio xxx N/A 13.7 xxx
Dividend Yield xxx N/A 3.4% xxx
Div Pay Ratio(%) xxx 105.4% 46.7% xxx

Dividend yield today if purchased 3 years ago: 4.29%

DIVIDEND YIELD CALCULATOR

Dividend Yield Today On Last Actual Payout :

 3.36

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: 26/08 - ex-div 13.50c (franking 100%)

HISTORICAL DATA ARE ALL IN AUD
Copyright © 2025 FactSet UK Limited. All rights reserved
Title 202020212022202320242025
EPS Basic xxxxxxxxxxxxxxx28.0
DPS All xxxxxxxxxxxxxxx29.5
Sales/Revenue xxxxxxxxxxxxxxx3,116.1 M
Book Value Per Share xxxxxxxxxxxxxxx563.7
Net Operating Cash Flow xxxxxxxxxxxxxxx399.6 M
Net Profit Margin xxxxxxxxxxxxxxx6.17 %

EPS Basic

DPS All

Sales/Revenue

Book Value Per Share

Net Operating Cash Flow

Net Profit Margin

Title 202020212022202320242025
Return on Capital Employed xxxxxxxxxxxxxxx4.97 %
Return on Invested Capital xxxxxxxxxxxxxxx3.62 %
Return on Assets xxxxxxxxxxxxxxx0.56 %
Return on Equity xxxxxxxxxxxxxxx4.97 %
Return on Total Capital xxxxxxxxxxxxxxx9.99 %
Free Cash Flow ex dividends xxxxxxxxxxxxxxx208.1 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 202020212022202320242025
Short-Term Debt xxxxxxxxxxxxxxx6,936 M
Long Term Debt xxxxxxxxxxxxxxx1,332 M
Total Debt xxxxxxxxxxxxxxx8,268 M
Goodwill - Gross xxxxxxxxxxxxxxx580 M
Cash & Equivalents - Generic xxxxxxxxxxxxxxx650 M
Price To Book Value xxxxxxxxxxxxxxx1.43

Short-Term Debt

Long Term Debt

Total Debt

Goodwill - Gross

Cash & Equivalents - Generic

Price To Book Value

Title 202020212022202320242025
Capex xxxxxxxxxxxxxxx0.2 M
Capex % of Sales xxxxxxxxxxxxxxx0.01 %
Cost of Goods Sold xxxxxxxxxxxxxxx-
Selling, General & Admin. Exp & Other xxxxxxxxxxxxxxx802 M
Research & Development xxxxxxxxxxxxxxx-
Investments - Total xxxxxxxxxxxxxxx32,809 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

0.5

No. Of Recommendations

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

Bell Potter

xx/xx/xxxx

1

xxx

$xx.xx

xx.xx%

Broker commentary and detailed analysis is available for Full Members Only.
Login above or Get a Free Trial

Macquarie

xx/xx/xxxx

1

xxxxxxxxxx

$xx.xx

xx.xx%

Broker commentary and detailed analysis is available for Full Members Only.
Login above or Get a Free Trial

Citi

xx/xx/xxxx

1

xxx

$xx.xx

xx.xx%

Broker commentary and detailed analysis is available for Full Members Only.
Login above or Get a Free Trial

UBS

17/10/2025

1

Buy

$10.10

14.51%

UBS notes Challenger's first quarter exhibited strong Life division momentum, with 3.2% net book growth coming in well above consensus. Rising lifetime and institutional annuity sales offset weaker retail demand, explain the analysts.

Funds management outflows remain a drag, though the addition of Fulcrum is seen as supporting an asset recovery.

The broker highlights stable capital at 1.58x prescribed capital amount (PCA), an APRA measure to determine the minimum level of capital an insurer must hold to protect policyholders against financial stress.

UBS sees potential upside from APRA’s forthcoming annuity capital framework, expected to allow capital releases from FY26.

The broker raises its target price to $10.10 from $9.60 and retains a Buy rating.

FORECAST
UBS forecasts a full year FY26 dividend of 30.00 cents and EPS of 66.00 cents.
UBS forecasts a full year FY27 dividend of 32.00 cents and EPS of 69.00 cents.

Ord Minnett

xx/xx/xxxx

2

xxxxxxxxxx

$xx.xx

xx.xx%

Broker commentary and detailed analysis is available for Full Members Only.
Login above or Get a Free Trial

Morgan Stanley

xx/xx/xxxx

5

xxxxxxxxxxx

$xx.xx

xx.xx%

Broker commentary and detailed analysis is available for Full Members Only.
Login above or Get a Free Trial

Morgans

xx/xx/xxxx

3

xxxxxxxxx xx xxxx xxxx xxx

$xx.xx

xx.xx%

Broker commentary and detailed analysis is available for Full Members Only.
Login above or Get a Free Trial
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

21/10/2025

2

Overweight

$9.20

4.31%

Challenger’s first quarter update showed solid momentum, according to Jarden, with the Life division outperforming expectations on sales and book value, offsetting continued outflows in Funds Management.

The broker highlights upcoming catalysts, including around $1.5bn in potential capital flexibility from APRA changes, and expansion of retirement partnerships across superfunds. Higher centre of excellence (COE) margins from credit origination are also anticipated.

The analyst points to a 7% EPS earnings compound annual growth rate (CAGR) over two years for Challenger, supported by strong regulatory tailwinds.

Jarden raises its target price to $9.20 from $8.75 and retains an Overweight rating.
Access Extra Coverage Research History >

CGF STOCK CHART

FNArena News on CGF

1
Australian Broker Call *Extra* Edition – Oct 22, 2025

Oct 22 2025 - Daily Market Reports
2
Next Week At A Glance – 6-10 Oct 2025

Oct 03 2025 - Weekly Reports
3
Treasure Chest: Generation Development

Sep 17 2025 - Treasure Chest
4
Rudi’s View: August Results; Standouts, Turnarounds, Failures & Misfits

Sep 10 2025 - Rudi's View
5
Australian Broker Call *Extra* Edition – Aug 21, 2025

Aug 21 2025 - Daily Market Reports

Latest Wealth Management & Investments News

1
Weekly Update On LICs & LITs – 28-Oct-2025

Oct 28 2025 - Weekly Reports
2
Reverse Head-and-Shoulders Supports Pinnacle

Oct 21 2025 - Technicals
3
Weekly Update On LICs & LITs – 21-Oct-2025

Oct 21 2025 - Weekly Reports
4
Weekly Update On LICs & LITs – 14-Oct-2025

Oct 14 2025 - Weekly Reports
5
Monthly Listed Investment Trust Report – Oct 2025

Oct 08 2025 - Australia
6
Weekly Update On LICs & LITs – 07-Oct-2025

Oct 07 2025 - Weekly Reports
7
Infratil’s Digital & Decarbonisation Drive

Oct 03 2025 - Australia
8
Weekly Update On LICs & LITs – 30-Sep-2025

Sep 30 2025 - Weekly Reports
9
Weekly Update On LICs & LITs – 24-Sep-2025

Sep 24 2025 - Weekly Reports
10
Unbundling Wealth: How DIY Super Is Reshaping Investment Flows In Australia

Sep 17 2025 - SMSFundamentals