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

$9.11

10 Nov
2025

0.050

OPEN

$9.05

0.55%

HIGH

$9.17

1,565,912

LOW

$9.03

TARGET
$9.309 2.2% 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 64.1 xxx
DPS (cps) xxx 29.5 30.5 xxx
EPS Growth xxx 47.5% 100.0% xxx
DPS Growth xxx 11.3% 3.4% xxx
PE Ratio xxx N/A 14.1 xxx
Dividend Yield xxx N/A 3.4% xxx
Div Pay Ratio(%) xxx 105.4% 47.6% xxx

Dividend yield today if purchased 3 years ago: 4.06%

DIVIDEND YIELD CALCULATOR

Dividend Yield Today On Last Actual Payout :

 3.27

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%

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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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Morgan Stanley

06/11/2025

5

Underweight

$7.00

-23.16%

In Morgan Stanley's view, Challenger will see many benefits from APRA's new annuity capital proposals. But with the stock re-rating by some 4x PE since the start of 2025, the broker thinks the benefits are largely in the price.

In practice, Morgan Stanley thinks the earnings impact would be spread over several years and Challenger  would seek to neutralise or improve return on equity and earnings per share outcomes by returning capital.

Challenger could also shift into higher yielding fixed income assets to protect investment yields, the broker suggests. Underweight and $7.00 target retained. Industry view: In Line.

FORECAST
Morgan Stanley forecasts a full year FY26 EPS of 68.00 cents.
Morgan Stanley forecasts a full year FY27 EPS of 73.00 cents.

Macquarie

xx/xx/xxxx

1

xxxxxxxxxx

$xx.xx

xx.xx%

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Ord Minnett

xx/xx/xxxx

2

xxxxxxxxxx

$xx.xx

xx.xx%

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Morgans

xx/xx/xxxx

3

xxxxxxxxx xx xxxx xxxx 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

07/11/2025

2

Overweight

$9.20

0.99%

Jarden expects Challenger to unlock at least $1.2bn of surplus capital over the next two to three years following the implementation of APRA’s new capital standards.

The broker highlights a potential early release of $442m in July 2026 and further upside from reduced growth asset exposure and a lower capital target range.

The analysts point to deployment options including buybacks, higher annuity rates, or acquisitions, with buybacks potentially lifting return on equity (ROE) by around 310bps to 15%.

Jarden views the structural backdrop as supportive and sees risks skewed to the upside. The broker maintains an Overweight rating and a $9.20 target.

FORECAST
Jarden forecasts a full year FY26 dividend of 28.00 cents and EPS of 65.50 cents.
Jarden forecasts a full year FY27 dividend of 29.20 cents and EPS of 69.10 cents.
Access Extra Coverage Research History >

CGF STOCK CHART

FNArena News on CGF

1
Australian Broker Call *Extra* Edition – Nov 10, 2025

Nov 10 2025 - Daily Market Reports
2
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Nov 06 2025 - Rudi's View
3
Australian Broker Call *Extra* Edition – Oct 22, 2025

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

Oct 03 2025 - Weekly Reports
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Sep 17 2025 - Treasure Chest

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