GOODMAN GROUP (GMG)
Share Price Analysis and Chart

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GMG

GMG - GOODMAN GROUP

FNArena Sector : Infra & Property Developers
Year End: June
GICS Industry Group : Real Estate
Debt/EBITDA: 4.44
Index: ASX20 | ASX50 | ASX100 | ASX200 | ASX300 | ALL-ORDS

Goodman Group is an Australian commercial and industrial property group that owns, develops and manages warehouses, large scale logistics facilities, business and office parks in 17 countries. First listed in February 2005.

LAST PRICE CHANGE +/- CHANGE % VOLUME

$27.80

25 Aug
2026

0.250

OPEN

$27.50

0.91%

HIGH

$28.00

2,568,742

LOW

$27.47

TARGET
$34.587 24.4% upside
OTHER COMPANIES IN THE SAME SECTOR
CMW . CWP . FRI . FWD . GLF . GOZ . GPT . LIC . LLC . MGR . PPC . SFC . SGP . SIO . UOS .
FNARENA'S MARKET CONSENSUS FORECASTS
GMG: 1
Title FY25
Actual		 FY26
Actual		 FY27
Forecast		 FY28
Forecast
EPS (cps) xxx 136.0 142.9 xxx
DPS (cps) xxx 30.0 30.0 xxx
EPS Growth xxx 59.3% 5.0% xxx
DPS Growth xxx 0.0% 0.0% xxx
PE Ratio xxx N/A 19.6 xxx
Dividend Yield xxx N/A 1.1% xxx
Div Pay Ratio(%) xxx 22.1% 21.0% xxx

Dividend yield today if purchased 3 years ago: 1.33%

DIVIDEND YIELD CALCULATOR

Dividend Yield Today On Last Actual Payout :

 1.07

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: 29/06 - (franking ex-div 15.00c)

HISTORICAL DATA ARE ALL IN AUD
Copyright © 2026 FactSet UK Limited. All rights reserved
Title 202120222023202420252026
EPS Basic xxxxxxxxxxxxxxx136.0
DPS All xxxxxxxxxxxxxxx30.0
Sales/Revenue xxxxxxxxxxxxxxx2,656.6 M
Book Value Per Share xxxxxxxxxxxxxxx1,220.1
Net Operating Cash Flow xxxxxxxxxxxxxxx1,920.6 M
Net Profit Margin xxxxxxxxxxxxxxx104.60 %

EPS Basic

DPS All

Sales/Revenue

Book Value Per Share

Net Operating Cash Flow

Net Profit Margin

Title 202120222023202420252026
Return on Capital Employed xxxxxxxxxxxxxxx11.52 %
Return on Invested Capital xxxxxxxxxxxxxxx9.41 %
Return on Assets xxxxxxxxxxxxxxx8.52 %
Return on Equity xxxxxxxxxxxxxxx11.52 %
Return on Total Capital xxxxxxxxxxxxxxx4.54 %
Free Cash Flow ex dividends xxxxxxxxxxxxxxx1,269.7 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 202120222023202420252026
Short-Term Debt xxxxxxxxxxxxxxx16 M
Long Term Debt xxxxxxxxxxxxxxx6,075 M
Total Debt xxxxxxxxxxxxxxx6,091 M
Goodwill - Gross xxxxxxxxxxxxxxx-
Cash & Equivalents - Generic xxxxxxxxxxxxxxx4,082 M
Price To Book Value xxxxxxxxxxxxxxx2.55

Short-Term Debt

Long Term Debt

Total Debt

Goodwill - Gross

Cash & Equivalents - Generic

Price To Book Value

Title 202120222023202420252026
Capex xxxxxxxxxxxxxxx39.5 M
Capex % of Sales xxxxxxxxxxxxxxx1.49 %
Cost of Goods Sold xxxxxxxxxxxxxxx781 M
Selling, General & Admin. Exp & Other xxxxxxxxxxxxxxx522 M
Research & Development xxxxxxxxxxxxxxx-
Investments - Total xxxxxxxxxxxxxxx8,180 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

Macquarie

xx/xx/xxxx

1

xxxxxxxxxx

$xx.xx

xx.xx%

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UBS

xx/xx/xxxx

1

xxx

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xx.xx%

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Ord Minnett

xx/xx/xxxx

3

xxxx

$xx.xx

xx.xx%

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Bell Potter

21/08/2026

3

Downgrade to Hold from Buy

$32.65

17.45%

Goodman Group's FY26 operating EPS of 129.9c increased 10% y/y and was in line with Bell Potter and consensus forecasts, while FY27 guidance for 9% growth is slightly below consensus.

The analyst points to a 37% increase in development WIP to $19.7bn, with data centres now representing 78% of the total, supporting higher development yields and production.

The recent 50MW hyperscaler lease in Japan is viewed as an important validation of Goodman's ability to secure customers across its 6.4GW power bank, although development and monetisation will take time.

FY27-FY29 EPS forecasts are slightly adjusted downwards while Bell Potter downgrades to Hold from Buy with a $32.65 target, viewing FY27 as another year of investment and building towards future returns.

FORECAST
Bell Potter forecasts a full year FY27 dividend of 30.00 cents and EPS of 140.80 cents.
Bell Potter forecasts a full year FY28 dividend of 30.00 cents and EPS of 154.20 cents.

Citi

xx/xx/xxxx

1

xxx

$xx.xx

xx.xx%

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Morgans

xx/xx/xxxx

2

xxxxxxxxx xx xxxxxxxxxx xxxx xxx

$xx.xx

xx.xx%

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Morgan Stanley

xx/xx/xxxx

1

xxxxxxxxxx

$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

24/08/2026

2

Overweight

$35.14

26.40%

Goodman Group reported FY26 operating earnings per share of 129.9c, representing a 10.1% increase over FY25 and remaining consistent with consensus expectations.

Guidance for FY27 points to 9% operating earnings per share growth, translating to 141.6c, which sits slightly below prior consensus expectations although tracking in line with historical conservatism.

Operational updates highlighted recent leasing momentum, including a 50MW hyperscaler deployment at TY005, a robust work-in-progress pipeline of 19.7GW valued at over $18bn, and an upcoming target in 1H27 for an Australian capital partnership.

Despite near-term investor hesitation, Jarden views recent share price weakness as overdone and maintains an Overweight rating with an unchanged target price of $35.14.

FORECAST
Jarden forecasts a full year FY27 dividend of 30.00 cents and EPS of 141.60 cents.
Jarden forecasts a full year FY28 dividend of 31.00 cents and EPS of 154.30 cents.
Access Extra Coverage Research History >

GMG STOCK CHART

FNArena News on GMG

1
Rudi’s View: August Delivers Soft Guidance, Higher Dividends

10:00 AM - Rudi's View
2
Australian Broker Call *Extra* Edition – Aug 24, 2026

Aug 24 2026 - Daily Market Reports
3
Weekly Ratings, Targets, Forecast Changes – 21-08-26

Aug 24 2026 - Weekly Reports
4
FNArena Corporate Results Monitor – 20-08-2026

Aug 20 2026 - Australia
5
Rudi’s View: Beats, Misses And Early AI Signals

Aug 19 2026 - Rudi's View

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