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

$8.76

17 Sep
2025

0.030

OPEN

$8.78

0.34%

HIGH

$8.81

2,461,898

LOW

$8.67

TARGET
$8.766 0.1% 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 64.8 xxx
DPS (cps) xxx 29.5 30.2 xxx
EPS Growth xxx 47.5% 100.0% xxx
DPS Growth xxx 11.3% 2.4% xxx
PE Ratio xxx N/A 13.3 xxx
Dividend Yield xxx N/A 3.5% xxx
Div Pay Ratio(%) xxx 105.4% 46.7% xxx

Dividend yield today if purchased 3 years ago: 4.62%

DIVIDEND YIELD CALCULATOR

Dividend Yield Today On Last Actual Payout :

 3.43

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

0.6

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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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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UBS

20/08/2025

1

Buy

$9.30

6.16%

While Challenger's FY25 result was largely in line, stronger fourth quarter annuity sales and second half spread margins point to a more positive outlook for Life, UBS suggests.

Despite upgrading its FY26 earnings forecast by 4%, consistent with the guidance mid-point, UBS continues to see upside risk from new APRA capital standards due partway through FY26.

With a more normalised yield curve to drive improved demand for duration, regulatory tailwinds assisting lifetime annuity sales and
reducing capital intensity and an "undemanding valuation", UBS  reiterates its Buy rating. Target rises to $9.30 from $9.15.

FORECAST
UBS forecasts a full year FY26 dividend of 30.50 cents and EPS of 66.00 cents.
UBS forecasts a full year FY27 dividend of 32.50 cents and EPS of 69.30 cents.

Morgan Stanley

xx/xx/xxxx

5

xxxxxxxxxxx

$xx.xx

xx.xx%

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Ord Minnett

xx/xx/xxxx

1

xxx

$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

21/08/2025

2

Overweight

$8.60

-1.83%

Challenger’s FY25 profit of $455.5m was broadly in line with forecasts by Jarden and consensus, with Life earnings offsetting softer funds management. Life sales rose strongly in the fourth quarter, particularly from Australian institutions, while Japanese sales fell.

The cost-to-income ratio declined to 32.3%, at the low end of guidance, and return on equity (ROE) was above target for a second consecutive half, highlight the analysts.

FY26 guidance is for profit of $455-495m and EPS of 66-72c, implying around 4% growth at the midpoint. Jarden believes Life will drive growth, supported by lower maturities and stronger sales, while fee pressure continues to weigh on funds management.

Jarden cuts its EPS forecasts by -1.6% for FY25 and -4.4% for FY26, with capital changes from APRA remaining the key near-term catalyst. The broker sees potential for more than $1bn in capital returns and a stronger ROE profile.

The target price falls to $8.60 from $8.70. Overweight rating maintained.

FORECAST
Jarden forecasts a full year FY26 dividend of 27.60 cents and EPS of 63.70 cents.
Jarden forecasts a full year FY27 dividend of 29.10 cents and EPS of 67.90 cents.
Access Extra Coverage Research History >

CGF STOCK CHART

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