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

$7.85

13 Jun
2025

-0.120

OPEN

$7.78

-1.51%

HIGH

$7.90

2,429,600

LOW

$7.71

TARGET
$7.637 -2.7% downside
Franking for last dividend paid out: 100%
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FNARENA'S MARKET CONSENSUS FORECASTS
CGF: 1
Title FY23
Actual		 FY24
Actual		 FY25
Forecast		 FY26
Forecast
EPS (cps) xxx 19.0 58.3 xxx
DPS (cps) xxx 26.5 28.9 xxx
EPS Growth xxx - 55.0% 100.0% xxx
DPS Growth xxx 10.4% 9.0% xxx
PE Ratio xxx N/A 13.5 xxx
Dividend Yield xxx N/A 3.7% xxx
Div Pay Ratio(%) xxx 139.6% 49.6% xxx

Dividend yield today if purchased 3 years ago: 3.97%

DIVIDEND YIELD CALCULATOR

Dividend Yield Today On Last Actual Payout :

 3.38

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 201920202021202220232024
EPS Basic xxxxxxxxxxxxxxx19.0
DPS All xxxxxxxxxxxxxxx26.5
Sales/Revenue xxxxxxxxxxxxxxx2,907.7 M
Book Value Per Share xxxxxxxxxxxxxxx568.0
Net Operating Cash Flow xxxxxxxxxxxxxxx843.7 M
Net Profit Margin xxxxxxxxxxxxxxx4.63 %

EPS Basic

DPS All

Sales/Revenue

Book Value Per Share

Net Operating Cash Flow

Net Profit Margin

Title 201920202021202220232024
Return on Capital Employed xxxxxxxxxxxxxxx3.35 %
Return on Invested Capital xxxxxxxxxxxxxxx2.45 %
Return on Assets xxxxxxxxxxxxxxx0.42 %
Return on Equity xxxxxxxxxxxxxxx3.35 %
Return on Total Capital xxxxxxxxxxxxxxx11.14 %
Free Cash Flow ex dividends xxxxxxxxxxxxxxx692.4 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 xxxxxxxxxxxxxxx5,593 M
Long Term Debt xxxxxxxxxxxxxxx1,532 M
Total Debt xxxxxxxxxxxxxxx7,126 M
Goodwill - Gross xxxxxxxxxxxxxxx580 M
Cash & Equivalents - Generic xxxxxxxxxxxxxxx573 M
Price To Book Value xxxxxxxxxxxxxxx1.23

Short-Term Debt

Long Term Debt

Total Debt

Goodwill - Gross

Cash & Equivalents - Generic

Price To Book Value

Title 201920202021202220232024
Capex xxxxxxxxxxxxxxx1.9 M
Capex % of Sales xxxxxxxxxxxxxxx0.07 %
Cost of Goods Sold xxxxxxxxxxxxxxx-
Selling, General & Admin. Exp & Other xxxxxxxxxxxxxxx828 M
Research & Development xxxxxxxxxxxxxxx-
Investments - Total xxxxxxxxxxxxxxx31,000 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

Citi

xx/xx/xxxx

1

xxx

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xxx

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Morgan Stanley

xx/xx/xxxx

3

xxxxx-xxxxxx

$xx.xx

xx.xx%

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Macquarie

23/04/2025

1

Outperform

$7.00

-10.83%

Macquarie notes Challenger's tightened FY25 net profit guidance of $450-465m continues to point to 10% growth vs FY24 at the midpoint.

Life sales in 3Q25 was $1.4bn, but the broker highlights this was lower than -$1.6bn in maturities and repayments. The minimum capital ratio for Life rose 0.01x to 1.62x as retained earnings offset dividend and coupon payments.

No changes to FY25 estimates, but the broker lowered FY26 forecasts on lower cash rates and higher credit spreads.

Outperform. Target rises to $7.00 from $6.60.

FORECAST
Macquarie forecasts a full year FY25 dividend of 29.00 cents and EPS of 58.60 cents.
Macquarie forecasts a full year FY26 dividend of 30.00 cents and EPS of 62.90 cents.

Morgans

xx/xx/xxxx

1

xxx

$xx.xx

xx.xx%

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Bell Potter

xx/xx/xxxx

1

xxx

$xx.xx

xx.xx%

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Ord Minnett

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

30/04/2025

2

Overweight

$7.50

-4.46%

Challenger’s March quarter annuity sales and book growth missed Jarden's forecasts, although the tightening of FY25 normalised profit guidance has improved market confidence in management execution.

Despite softer retail and index-plus annuity sales, strength in longer-duration products and a robust capital ratio suggest improved resilience, with a positive rebalancing of the fixed income portfolio, explain the analysts.

The broker lowers FY26 EPS forecasts marginally but raises the target price to $7.50 from $7.40, citing lower balance sheet risks and a higher relative P/E multiple.

Challenger continues to trade at a -1-9% discount to its 10-year average multiple, supporting Jarden’s positive view despite macroeconomic risks. Overweight rating.

FORECAST
Jarden forecasts a full year FY25 dividend of 26.00 cents and EPS of 59.60 cents.
Jarden forecasts a full year FY26 dividend of 26.80 cents and EPS of 62.10 cents.
Access Extra Coverage Research History >

CGF STOCK CHART

FNArena News on CGF

1
Treasure Chest: Challenger

May 21 2025 - Treasure Chest
2
Next Week At A Glance – 5-9 May 2025

May 02 2025 - Weekly Reports
3
Australian Broker Call *Extra* Edition – Apr 30, 2025

Apr 30 2025 - Daily Market Reports
4
Challenger’s Resilience Highlighted

Apr 28 2025 - Australia
5
Australian Broker Call *Extra* Edition – Apr 20, 2025

Apr 22 2025 - Daily Market Reports

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