Goodman Group (GMG) AI Stock Analysis

• Market Cap: $60.65B
• Dividend Yield: 1.02%
• Average Volume (3M): 3.59M
• Price to Earnings (P/E): 34.7
• Beta (1Y): 1.42
• Revenue Growth: 16.87%
• EPS Growth: N/A
• Country: AU
• Employees: 900
• Sector: Real Estate
• Sector Strength: 53
• Industry: REIT - Diversified
• EPS (TTM): 0.54
• Shares Outstanding: 2,044,793,100
• 10 Day Avg. Volume: 2,954,909
• 30 Day Avg. Volume: 3,588,930
• PEG Ratio: -0.02
• Price to Book (P/B): 2.90
• Price to Sales (P/S): 30.65
• P/FCF Ratio: 70.96
• Enterprise Value/Market Cap: 1.15
• Enterprise Value/Revenue: 31.55
• Enterprise Value/Gross Profit: 49.15
• Enterprise Value/Ebitda: 31.93
• 1Y Price Target: $37.76
• Price Target Upside: 28.97% Upside
• Rating Consensus: Strong Buy
• Number of Analyst Covering: 8
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 54 Neutral
• Price Target: AU$30.00 ▲(2.46% Upside)

The overall stock score for Goodman Group is primarily influenced by its strong financial performance, despite challenges in revenue growth and cash flow management. Technical analysis indicates bearish momentum, with the stock trading below key moving averages and showing oversold conditions. The valuation suggests the stock is relatively expensive, with a high P/E ratio and modest dividend yield. These factors collectively result in a moderate overall score.

Positive Factors

Business Model Strength

The focus on logistics and warehouse facilities positions Goodman Group to capitalize on the growing demand for e-commerce and supply chain solutions, providing a durable competitive advantage.

Competitive Advantages

Strategic partnerships with major logistics and retail companies enhance Goodman Group's market position, ensuring stable revenue streams and a competitive edge in the industry.

Balance Sheet Health

A low debt-to-equity ratio indicates prudent leverage management, providing Goodman Group with financial stability and flexibility to pursue growth opportunities.

Negative Factors

Revenue Growth Challenges

Negative revenue growth trends highlight potential issues in market expansion or competitive pressures, which could impact long-term profitability and market share.

Cash Flow Management

Negative free cash flow growth suggests potential difficulties in cash generation, which could limit Goodman Group's ability to invest in new projects or return capital to shareholders.

Revenue Decline

A declining revenue trend poses a risk to Goodman Group's financial health and growth prospects, necessitating strategic adjustments to regain momentum and sustain profitability.

Goodman Group Business Overview & Revenue Model

Company Description

Goodman Group is an integrated property group with operations throughout Australia, New Zealand, Asia, Continental Europe, the United Kingdom, North America and Brazil. Goodman Group, comprised of the stapled entities Goodman Limited, Goodman Industrial Trust and Goodman Logistics (HK) Limited, is the largest industrial property group listed on the Australian Securities Exchange and one of the largest listed specialist investment managers of industrial property and business space globally. Goodman's global property expertise, integrated own+develop+manage customer service offering and significant investment management platform ensures it creates innovative property solutions that meet the individual requirements of its customers, while seeking to deliver long-term returns for investors.

How the Company Makes Money

Goodman Group generates revenue primarily through the leasing of its industrial properties to tenants, which include logistics operators and retailers. The company earns rental income from long-term leases and has a diversified portfolio that mitigates risk. Additionally, GMG makes money through property development, where it builds new facilities and sells or leases them upon completion, often at a premium due to their strategic locations and modern specifications. The firm also engages in asset management services for third-party investors, earning management fees and performance-based incentives. Key partnerships with major logistics companies and retail giants bolster GMG's revenue streams, while its focus on sustainable development and innovative property solutions enhances its competitive edge in the market.

Goodman Group Financial Statement Overview

Summary

Goodman Group shows strong profitability and a stable balance sheet, but faces challenges in revenue growth and cash flow management. The company needs to focus on reversing the declining revenue trend and improving cash generation to maintain its financial health.

Income Statement

Goodman Group's income statement shows a mixed performance. The gross profit margin is strong, indicating efficient cost management. However, the revenue growth rate has been negative in recent years, which is a concern. The net profit margin is high, but this is partly due to a significant net income in 2025, which may not be sustainable. Overall, profitability is strong, but the declining revenue trend needs attention.

Balance Sheet

The balance sheet reflects a stable financial position with a low debt-to-equity ratio, indicating prudent leverage management. The return on equity has been positive, although it has fluctuated over the years. The equity ratio is healthy, suggesting a strong capital base. Overall, the balance sheet is robust, with manageable debt levels and solid equity.

Cash Flow

Cash flow analysis reveals some challenges. The free cash flow growth rate has been negative recently, indicating potential cash generation issues. The operating cash flow to net income ratio is below 1, suggesting that not all net income is being converted into cash. However, the free cash flow to net income ratio is close to 1, indicating efficient cash usage. Overall, cash flow management requires improvement to ensure sustainable cash generation.

Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	2.21B	2.21B	1.92B	1.96B	2.06B	1.87B
Gross Profit	1.42B	1.42B	1.37B	1.33B	1.45B	947.90M
EBITDA	2.18B	2.18B	22.80M	462.10M	688.20M	515.00M
Net Income	1.67B	1.67B	-98.90M	1.56B	3.41B	2.31B
Balance Sheet
Total Assets	31.57B	31.57B	23.83B	24.07B	21.47B	16.89B
Cash, Cash Equivalents and Short-Term Investments	3.96B	3.96B	1.79B	1.36B	1.06B	920.40M
Total Debt	5.28B	5.28B	3.72B	3.36B	2.90B	2.15B
Total Liabilities	8.26B	8.26B	6.29B	6.05B	5.04B	3.73B
Stockholders Equity	23.31B	23.31B	17.54B	18.02B	16.42B	13.16B
Cash Flow
Free Cash Flow	957.30M	953.20M	1.18B	1.27B	835.10M	1.11B
Operating Cash Flow	959.60M	959.60M	1.19B	1.28B	841.00M	1.11B
Investing Cash Flow	-3.48B	-3.48B	-688.20M	-716.00M	-1.00B	-549.90M
Financing Cash Flow	4.60B	4.60B	-52.40M	-308.80M	299.70M	-1.35B

Goodman Group Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 29.28
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For AU:GMG, the sentiment is Negative. The current price of 29.28 is below the 20-day moving average (MA) of 29.54, below the 50-day MA of 31.67, and below the 200-day MA of 32.37, indicating a bearish trend. The MACD of -0.58 indicates Negative momentum. The RSI at 39.75 is Neutral, neither overbought nor oversold. The STOCH value of 28.45 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for AU:GMG.

Goodman Group Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
SGP	75 Outperform	AU$14.03B	16.76	7.99%	4.34%	4.75%	170.39%
CHC	66 Neutral	$11.59B	51.34	24.58%	1.97%	15.06%	47.66%
Sector *	65 Neutral	$2.17B	12.19	3.79%	4.94%	3.15%	1.96%
GPT	60 Neutral	$10.44B	27.64	3.56%	4.39%	12.66%	―
DXS	59 Neutral	AU$7.64B	55.30	1.32%	5.19%	4.52%	―
GMG	54 Neutral	$60.65B	34.72	7.99%	1.02%	16.87%	―
CLW	52 Neutral	AU$2.99B	25.42	3.57%	6.10%	-9.63%	―

Goodman Group Corporate Events

Goodman Group Announces Change in Director’s Interest

Goodman Group announced a change in the director’s interest, with Greg Goodman acquiring 570,000 GMG Performance Rights. This acquisition, approved by securityholders, reflects the company’s ongoing commitment to aligning management interests with shareholder value, potentially impacting its strategic direction and stakeholder relations.

Goodman Group Issues Performance Rights to Employees

Goodman Group has announced the issuance of 1,200,000 performance rights under an employee incentive scheme. These securities are unquoted and subject to transfer restrictions, reflecting the company’s strategy to incentivize and retain key personnel, which may enhance operational efficiency and align employee interests with long-term business goals.

Goodman Group Announces AGM Results, Reflects Strong Shareholder Support

Goodman Group has announced the results of its Annual General Meetings, detailing the number of proxies received and votes cast on various resolutions for Goodman Limited, Goodman Industrial Trust, and Goodman Logistics (HK) Limited. The announcement reflects the company’s ongoing commitment to transparency and governance, with most resolutions being carried, indicating strong shareholder support. This outcome is likely to reinforce Goodman’s industry positioning and reassure stakeholders of its stable management and strategic direction.

Goodman Group Celebrates 30 Years on ASX with Strong Financial Growth

Goodman Group’s 2025 Annual General Meetings highlighted a significant milestone of 30 years since its ASX listing and the fifteenth consecutive year of growth in operating profit, which increased by 12.8% to $2.3 billion. The Group’s strategic focus on sustainable returns and agility in challenging environments has resulted in a Total Securityholder Return of 95% over three years and 143% over five years, reinforcing its position as a key player in providing essential infrastructure.

Goodman Group Announces Director’s Change in Securities Holdings

Goodman Group has announced a change in the director’s interest, specifically involving Greg Goodman, who has disposed of 245,525 GMG Stapled Securities valued at $8,636,809. This transaction reflects a strategic adjustment in the director’s holdings, potentially impacting stakeholder perceptions and the company’s market positioning.

Goodman Group Announces Hybrid AGM for 2025

Goodman Group has announced its upcoming Annual General Meetings (AGM), scheduled for November 11, 2025, in Sydney. The AGM will be conducted as a hybrid meeting, allowing securityholders the flexibility to attend either online or in person, reflecting the company’s commitment to accessibility and stakeholder engagement.

Goodman Group Issues Performance Rights to Align Employee Interests

Goodman Group announced the issuance of 12,532,700 performance rights under an employee incentive scheme, which are unquoted and subject to transfer restrictions until the restriction period ends. This move is part of the company’s strategy to align employee interests with long-term company performance, potentially enhancing stakeholder value and reinforcing its competitive position in the logistics real estate sector.

Goodman Group Dispatches 2025 Annual Report and Announces AGM Details

Goodman Group has dispatched its 2025 Annual Report to securityholders, highlighting its strong financial performance and strategic achievements over the past year. The company will hold its Annual General Meetings on November 11, 2025, in Sydney, offering a hybrid format for attendance. Celebrating 30 years since its listing on the Australian Securities Exchange, Goodman has grown from a local industrial property group to a global infrastructure provider with a portfolio worth $85.6 billion. The Group remains committed to high-quality real estate, disciplined capital management, and strong stakeholder relationships, positioning itself for continued success in FY26.

Goodman Group Director Acquires Significant Stake

Goodman Group announced a change in the director’s interest, with George Zoghbi acquiring 15,000 GMG stapled securities through an on-market trade. This acquisition, valued at $498,631, reflects a strategic move by the director, potentially impacting the company’s governance and signaling confidence in the company’s market position.