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Stockland
(Sydney:SGP)
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Rating:64Neutral
Price Target:
AU$5.00
▲(21.07% Upside)
Action:Downgraded
Date:04/03/26
The score is supported by solid financial performance and attractive income/valuation (high dividend yield and modest P/E). These positives are tempered by notably weak technicals, with the stock in a clear downtrend and bearish momentum despite oversold readings.
Positive Factors
Diversified business model
Stockland’s multi-asset model combines masterplanned residential development, retail centres, workplace/logistics and funds management. This mix gives recurring rental and fee income to offset cyclical development swings, supporting more stable revenue and cash flow over multi-quarter horizons.
Negative Factors
Moderate cash conversion
Operating cash flow converts only ~40% of reported net income into cash and free cash flow is under 40% of net income. That modest conversion limits internal funding for development and dividends, increasing reliance on external financing when development cycles require large cash outlays.
Read all positive and negative factors
Positive Factors
Negative Factors
Diversified business model
Stockland’s multi-asset model combines masterplanned residential development, retail centres, workplace/logistics and funds management. This mix gives recurring rental and fee income to offset cyclical development swings, supporting more stable revenue and cash flow over multi-quarter horizons.
Read all positive factors
Stockland (SGP) vs. iShares MSCI Australia ETF (EWA)
Market Cap
AU$10.37B
Dividend Yield5.9%
Average Volume (3M)6.56M
Price to Earnings (P/E)11.9
Beta (1Y)0.86
Revenue Growth9.71%
EPS Growth93.78%
CountryAU
Employees1,674
SectorReal Estate
Sector Strength53
IndustryREIT - Diversified
Share Statistics
EPS (TTM)0.36
Shares Outstanding2,431,644,000
10 Day Avg. Volume7,109,613
30 Day Avg. Volume6,560,095
Financial Highlights & Ratios
PEG Ratio0.09
Price to Book (P/B)1.26
Price to Sales (P/S)4.09
P/FCF Ratio39.36
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
AU$4.75Price Target Upside14.89% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering4
EPS Forecast (FY)0.36
Revenue Forecast (FY)AU$1.23B
Stockland Business Overview & Revenue Model
Company Description
Established in 1952, Stockland (ASX:SGP) has evolved into one of Australia's premier diversified property developers, owners, and managers. The company oversees a substantial portfolio encompassing bustling retail hubs, vibrant residential communi...
How the Company Makes Money
Stockland makes money primarily through a mix of property development profits, recurring rental and property income from its investment portfolio, and fees earned from funds management.
1) Residential development revenue and profits: Stockland ge...
Stockland Financial Statement Overview
Summary
Income Statement
75
Positive
Balance Sheet
70
Positive
Cash Flow
68
Positive
| Breakdown | TTM | Jun 2025 | Jun 2024 | Jun 2023 | Jun 2022 | Jun 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 3.37B | 3.13B | 2.99B | 2.81B | 2.81B | 2.73B |
| Gross Profit | 1.51B | 1.22B | 1.18B | 862.00M | 760.00M | 1.07B |
| EBITDA | 894.00M | 1.00B | 701.00M | 614.00M | 755.00M | 1.19B |
| Net Income | 873.00M | 826.00M | 305.00M | 440.00M | 1.38B | 1.10B |
Balance Sheet | ||||||
| Total Assets | 18.79B | 17.74B | 17.06B | 16.64B | 20.41B | 19.30B |
| Cash, Cash Equivalents and Short-Term Investments | 470.00M | 647.00M | 807.00M | 306.00M | 399.00M | 1.29B |
| Total Debt | 5.67B | 5.18B | 4.77B | 3.95B | 4.51B | 4.79B |
| Total Liabilities | 8.44B | 7.56B | 7.17B | 6.46B | 10.05B | 9.72B |
| Stockholders Equity | 10.35B | 10.19B | 9.89B | 10.18B | 10.36B | 9.58B |
Cash Flow | ||||||
| Free Cash Flow | 198.00M | 325.00M | 110.00M | 309.00M | 896.00M | 1.03B |
| Operating Cash Flow | 200.00M | 328.00M | 114.00M | 332.00M | 918.00M | 1.05B |
| Investing Cash Flow | -151.00M | -139.00M | 101.00M | 763.00M | -976.00M | 95.00M |
| Financing Cash Flow | -179.00M | -261.00M | 233.00M | -1.22B | -705.00M | -423.00M |
Stockland Peers Comparison
UnderperformOutperform
Sector (65)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
74 Outperform | AU$9.85B | 12.07 | 7.84% | 4.90% | 3.78% | ― | |
70 Outperform | AU$11.04B | 20.46 | 19.38% | 2.28% | 18.04% | 71.29% | |
65 Neutral | $2.17B | 12.19 | 3.79% | 4.94% | 3.15% | 1.96% | |
64 Neutral | AU$10.37B | 11.86 | 8.50% | 6.12% | 9.71% | 93.78% | |
62 Neutral | AU$60.87B | 35.87 | 7.19% | 1.05% | 1.76% | 73.69% | |
57 Neutral | AU$844.51M | 42.46 | 5.12% | 9.19% | 4.64% | ― | |
56 Neutral | AU$6.42B | 13.61 | 4.78% | 6.46% | -1.07% | ― |
* Real Estate Sector Average
AU:SGP
Stockland
4.30
-1.04
-19.54%
AU:CHC
Charter Hall Group
23.90
2.65
12.49%
AU:DXS
Dexus
6.06
-0.82
-11.96%
AU:GMG
Goodman Group
29.95
-5.13
-14.61%
AU:GPT
GPT Group
5.25
0.31
6.32%
AU:ABG
Abacus Property Group
0.93
-0.20
-17.55%
Stockland Corporate Events
Stockland Reports Lapse of 42,313 Performance Rights
Jul 8, 2026
Stockland has reported the lapse of 42,313 performance rights, designated as SGPAA securities, following the failure of the relevant conditions to be satisfied. The cessation, effective June 30, 2026, slightly reduces the company’s pool of p...
Stockland Declares Semi-Annual Distribution of 16.2 Cents per Stapled Security
Jun 22, 2026
Stockland has declared a distribution of AUD 0.162 per fully paid stapled security for the six-month period ending 30 June 2026, continuing its practice of semi-annual payouts to investors. The distribution will trade ex-distribution on 29 June, w...
Stockland Confirms 2H26 Payout and Suspends DRP for Latest Distribution
Jun 22, 2026
Stockland has confirmed an estimated distribution of 16.2 cents per Ordinary Stapled Security for the six months to 30 June 2026, taking the full-year payout to 25.2 cents and aligning with earlier guidance to investors. The record date is set for...
Stockland Releases Operational Update for Third Quarter 2026
Apr 30, 2026
Stockland has released its operational update for the third quarter of the 2026 financial year, covering the three months ended 31 March 2026. The company did not provide specific performance metrics in this announcement but indicated that a detai...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.