Stock GMG GOODMAN GROUP
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Financials Goodman Group

Equities

GMG

AU000000GMG2

Commercial REITs

Market Closed - Australian S.E.
Other stock markets
 02:10:12 2024-05-03 am EDT 		5-day change 1st Jan Change
32.63 AUD +2.71% Intraday chart for Goodman Group +5.91% +28.97%
May. 03 Banks, real estate stocks lead gains in Aussie shares; US jobs data, RBA policy eyed RE
Apr. 22 Barrenjoey Markets Downgrades Goodman Group to Neutral From Overweight; Price Target is AU$30 MT

Valuation

Fiscal Period: June 2019 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 27,263 27,152 39,110 33,329 38,079 61,970 - -
Enterprise Value (EV) 1 28,631 28,355 40,344 35,105 40,012 63,998 63,742 63,804
P/E ratio 17.2 x 18.6 x 17.3 x 9.98 x 24.7 x 30.6 x 27.4 x 23.3 x
Yield 2% 2.02% 1.42% 1.68% 1.49% 0.92% 0.95% 1%
Capitalization / Revenue 15.9 x 18 x 19.7 x 16.3 x 16.5 x 23.3 x 20.9 x 18.6 x
EV / Revenue 16.7 x 18.8 x 20.3 x 17.2 x 17.3 x 24.1 x 21.5 x 19.1 x
EV / EBITDA 26.3 x 22.8 x 30.6 x 20.5 x 20.4 x 28.3 x 25.7 x 22.5 x
EV / FCF 34.7 x 24.6 x 36.4 x 42 x 31.5 x 63.7 x 63.6 x 52.6 x
FCF Yield 2.88% 4.07% 2.75% 2.38% 3.18% 1.57% 1.57% 1.9%
Price to Book 2.59 x 2.36 x 2.97 x 2.03 x 2.1 x 3.39 x 2.99 x 2.66 x
Nbr of stocks (in thousands) 1,813,882 1,828,413 1,847,429 1,868,223 1,897,302 1,899,182 - -
Reference price 2 15.03 14.85 21.17 17.84 20.07 32.63 32.63 32.63
Announcement Date 8/22/19 8/12/20 8/11/21 8/15/22 8/16/23 - - -
1AUD in Million2AUD
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: June 2019 2020 2021 2022 2023 2024 2025 2026
Net sales 1 1,719 1,511 1,988 2,044 2,313 2,659 2,970 3,335
EBITDA 1 1,090 1,242 1,318 1,712 1,957 2,260 2,484 2,833
EBIT 1 1,083 1,220 1,294 1,694 1,941 2,257 2,545 2,912
Operating Margin 63.03% 80.73% 65.11% 82.91% 83.9% 84.87% 85.68% 87.31%
Earnings before Tax (EBT) 1 1,745 1,617 2,420 3,738 1,742 2,224 2,400 2,729
Net income 1 1,628 1,504 2,312 3,414 1,560 2,054 2,304 2,734
Net margin 94.72% 99.55% 116.28% 167.05% 67.43% 77.26% 77.56% 81.99%
EPS 2 0.8730 0.8000 1.221 1.788 0.8130 1.066 1.189 1.400
Free Cash Flow 1 825.8 1,154 1,108 835.1 1,271 1,004 1,003 1,213
FCF margin 48.05% 76.4% 55.71% 40.86% 54.95% 37.76% 33.77% 36.37%
FCF Conversion (EBITDA) 75.77% 92.92% 84.08% 48.79% 64.94% 44.43% 40.38% 42.81%
FCF Conversion (Net income) 50.73% 76.75% 47.91% 24.46% 81.49% 48.87% 43.54% 44.36%
Dividend per Share 2 0.3000 0.3000 0.3000 0.3000 0.3000 0.3008 0.3100 0.3264
Announcement Date 8/22/19 8/12/20 8/11/21 8/15/22 8/16/23 - - -
1AUD in Million2AUD
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: June 2020 S1 2020 S2 2021 S1 2021 S2 2022 S1 2022 S2 2023 S1 2023 S2 2024 S1 2024 S2 2025 S1 2025 S2
Net sales 1 1,392 720.1 1,312 676.8 - 988.7 1,127 1,186 1,444 1,225 1,538 -
EBITDA - - - - - - - 1,010 1,232 - - -
EBIT 1 - 627.1 673.6 620.9 - 835.5 947.6 993.1 1,232 1,020 - -
Operating Margin - 87.09% 51.36% 91.74% - 84.5% 84.07% 83.74% 85.36% 83.31% - -
Earnings before Tax (EBT) - - - - - - - - - - - -
Net income 1 810.6 - 1,042 - 2,003 - 1,097 - -220.1 556.2 - -
Net margin 58.25% - 79.41% - - - 97.32% - -15.25% 45.4% - -
EPS 2 0.4402 - 0.5510 - 1.052 - 0.5740 - -0.1160 0.2910 0.6320 0.5760
Dividend per Share 2 0.1500 0.1500 0.1500 0.1500 0.1500 0.1500 0.1500 0.1500 0.1500 0.1500 0.1700 -
Announcement Date 2/12/20 8/12/20 2/18/21 8/11/21 2/16/22 8/15/22 2/15/23 8/16/23 2/14/24 - - -
1AUD in Million2AUD
Estimates

Balance Sheet Analysis

Fiscal Period: June 2019 2020 2021 2022 2023 2024 2025 2026
Net Debt 1 1,368 1,203 1,234 1,776 1,933 2,028 1,772 1,834
Net Cash position 1 - - - - - - - -
Leverage (Debt/EBITDA) 1.255 x 0.9687 x 0.9365 x 1.038 x 0.9874 x 0.8973 x 0.7135 x 0.6472 x
Free Cash Flow 1 826 1,154 1,108 835 1,271 1,004 1,003 1,213
ROE (net income / shareholders' equity) 9.57% 9.62% 18.7% 10.3% 10.4% 11.2% 11.7% 11.9%
ROA (Net income/ Total Assets) 6.64% 6.83% 14% 7.98% 7.84% 8.76% 9.29% 9.96%
Assets 1 24,508 22,026 16,503 42,787 19,886 23,444 24,799 27,460
Book Value Per Share 2 5.800 6.300 7.120 8.790 9.570 9.630 10.90 12.20
Cash Flow per Share 2 0.4400 0.6200 0.5900 0.4400 0.6700 0.6700 1.260 1.480
Capex 1 94.5 2.5 7 5.9 13 1,312 907 941
Capex / Sales 5.5% 0.17% 0.35% 0.29% 0.56% 49.35% 30.53% 28.21%
Announcement Date 8/22/19 8/12/20 8/11/21 8/15/22 8/16/23 - - -
1AUD in Million2AUD
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Ratings for Goodman Group

Trading Rating
Investor Rating
ESG Refinitiv
B-
More Ratings

Analysts' Consensus

Sell
Consensus
Buy
Mean consensus
OUTPERFORM
Number of Analysts
13
Last Close Price
32.63 AUD
Average target price
30.11 AUD
Spread / Average Target
-7.73%
Consensus

EPS Revisions

Estimates Revisions

Quarterly earnings - Rate of surprise

Company calendar

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Industrial REITs
  1. Stock Market
  2. Equities
  3. GMG Stock
  4. Financials Goodman Group