CHALLENGER LIMITED (CGF)
Share Price Analysis and Chart

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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

$9.96

22 Jun
2026

0.130

OPEN

$9.76

1.32%

HIGH

$10.02

2,313,244

LOW

$9.65

TARGET
$9.99 0.3% upside
Franking for last dividend paid out: 100%
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FNARENA'S MARKET CONSENSUS FORECASTS
CGF: 1
Title FY24
Actual		 FY25
Actual		 FY26
Forecast		 FY27
Forecast
EPS (cps) xxx 28.0 66.2 xxx
DPS (cps) xxx 29.5 31.0 xxx
EPS Growth xxx 47.5% 100.0% xxx
DPS Growth xxx 11.3% 5.1% xxx
PE Ratio xxx N/A 14.8 xxx
Dividend Yield xxx N/A 3.2% xxx
Div Pay Ratio(%) xxx 105.4% 46.8% xxx

Dividend yield today if purchased 3 years ago: 4.66%

DIVIDEND YIELD CALCULATOR

Dividend Yield Today On Last Actual Payout :

 3.01

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 15.00c (franking 100%)

HISTORICAL DATA ARE ALL IN AUD
Copyright © 2026 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

0.8

No. Of Recommendations

5
BROKER DATE RATING RECOMMENDATION TARGET PRICE % TO REACH TARGET COMMENTARY

Citi

xx/xx/xxxx

1

xxx

$xx.xx

xx.xx%

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UBS

xx/xx/xxxx

1

xxx

$xx.xx

xx.xx%

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Ord Minnett

19/06/2026

1

Buy

$11.00

10.44%

Challenger will separate and merge its Fidante asset management platform with Channel Capital. Ord Minnett suggests this should resonate well with investors seeking a cleaner exposure to retirement income themes.

A new entity, Channel Group, will be formed that will manage around $150 bn in assets. Challenger will retain a 45% stake. The broker observes the deal should generate a pre-tax gain of roughly $100m in FY27 and provide some near-term earnings support.

The company intends to launch an annuity-backed notes program which Ord Minnett suggests could materially enhance growth in the annuity book if successfully executed.

The broker retains a Buy rating and $11 target.

Macquarie

xx/xx/xxxx

1

xxxxxxxxxx

$xx.xx

xx.xx%

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Morgan Stanley

xx/xx/xxxx

3

xxxxx-xxxxxx

$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

22/06/2026

3

Neutral

$9.20

-7.63%

Jarden maintains its Neutral rating for Challenger with its target price increased to $9.20 after a corporate restructuring announcement involving the Fidante multi-affiliate fund platform.

Fidante will merge with Channel Capital to establish a combined federated entity named Channel Group, leaving Challenger Limited with a 45% equity-accounted minority stake and up to $172m in cash proceeds.

The analyst notes this strategic simplification successfully downscales exposure to non-core structural pressures while converting a historical management distraction into a streamlined fee-related revenue stream.

Minor intermediate diluted earnings revisions of -0.6% and -0.4% are applied to FY27 and FY28 profiles to encapsulate localised transaction dilution prior to completion.

Commentary highlights long-term performance rater metrics remain fundamentally pinned to achieving robust organic book growth across core retirement annuity portfolios while proving capital resilience through shifting macroeconomic credit curves.

FORECAST
Jarden forecasts a full year FY26 dividend of 30.80 cents and EPS of 64.40 cents.
Jarden forecasts a full year FY27 dividend of 31.90 cents and EPS of 69.50 cents.
Access Extra Coverage Research History >

CGF STOCK CHART

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