Challenger (CGF) Stock Overview
A publicly owned investment manager. More details
| Snowflake Score | |
|---|---|
| Valuation | 5/6 |
| Future Growth | 1/6 |
| Past Performance | 5/6 |
| Financial Health | 4/6 |
| Dividends | 3/6 |
CGF Community Fair Values
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Analyst Price Targets
Challenger Limited Competitors
Price History & Performance
| Historical stock prices | |
|---|---|
| Current Share Price | AU$9.35 |
| 52 Week High | AU$9.62 |
| 52 Week Low | AU$7.25 |
| Beta | 0.61 |
| 1 Month Change | 10.00% |
| 3 Month Change | 4.12% |
| 1 Year Change | 25.50% |
| 3 Year Change | 52.53% |
| 5 Year Change | 79.12% |
| Change since IPO | 266.67% |
Recent News & Updates
Narrative Update • May 14
CGF: Capital Returns And P E Calibration Will Shape Future Repricing Outlook
Analysts have trimmed their price target on Challenger by A$0.09 to reflect slightly lower assumed discount rates and a modestly reduced future P/E multiple, while keeping fair value estimates broadly unchanged. Analyst Commentary Recent sector research on alternative asset managers has focused on resetting valuation assumptions, adjusting earnings expectations for fee based businesses and reassessing how much multiple investors may be willing to pay for forward earnings.Narrative Update • Apr 27
CGF: Capital Returns And Cost Discipline Will Support Future Repricing Outlook
Analysts have trimmed their price target on Challenger to A$9.38 from A$9.50, citing slightly softer assumptions for revenue growth, profit margins and future P/E multiples, while keeping the discount rate broadly unchanged. Analyst Commentary Recent research across the broader asset management sector shows a mix of optimism and caution on valuation, execution and growth, which offers useful context for Challenger investors assessing the latest price target trim.Narrative Update • Apr 09
CGF: Capital Returns And Cost Discipline Will Support Future Repricing Potential
Analysts have nudged their price target for Challenger slightly higher to A$9.50 from A$9.44, reflecting updated assumptions for fair value, discount rate and future P/E that are broadly consistent with recent adjustments seen across alternative asset managers. Analyst Commentary The recent tweak to Challenger's A$9.50 price target fits into a broader pattern that research desks have been applying across global alternative asset managers, including the Carlyle updates referenced here.Narrative Update • Mar 25
CGF: Capital Returns And Fee Margins Will Drive Future Repricing Potential
Analysts have adjusted Challenger's price target slightly lower to A$9.44, citing updated sector-wide assumptions on earnings flows, discount rates and future P/E multiples, while still reflecting the same fair value estimate in their models. Analyst Commentary Recent changes to Challenger's valuation echo broader adjustments seen across the alternative asset manager space, where analysts have been fine tuning targets in response to updated assumptions on earnings flows, discount rates and P/E multiples.Recent updates
Narrative Update • May 14
CGF: Capital Returns And P E Calibration Will Shape Future Repricing Outlook
Analysts have trimmed their price target on Challenger by A$0.09 to reflect slightly lower assumed discount rates and a modestly reduced future P/E multiple, while keeping fair value estimates broadly unchanged. Analyst Commentary Recent sector research on alternative asset managers has focused on resetting valuation assumptions, adjusting earnings expectations for fee based businesses and reassessing how much multiple investors may be willing to pay for forward earnings.Narrative Update • Apr 27
CGF: Capital Returns And Cost Discipline Will Support Future Repricing Outlook
Analysts have trimmed their price target on Challenger to A$9.38 from A$9.50, citing slightly softer assumptions for revenue growth, profit margins and future P/E multiples, while keeping the discount rate broadly unchanged. Analyst Commentary Recent research across the broader asset management sector shows a mix of optimism and caution on valuation, execution and growth, which offers useful context for Challenger investors assessing the latest price target trim.Narrative Update • Apr 09
CGF: Capital Returns And Cost Discipline Will Support Future Repricing Potential
Analysts have nudged their price target for Challenger slightly higher to A$9.50 from A$9.44, reflecting updated assumptions for fair value, discount rate and future P/E that are broadly consistent with recent adjustments seen across alternative asset managers. Analyst Commentary The recent tweak to Challenger's A$9.50 price target fits into a broader pattern that research desks have been applying across global alternative asset managers, including the Carlyle updates referenced here.Narrative Update • Mar 25
CGF: Capital Returns And Fee Margins Will Drive Future Repricing Potential
Analysts have adjusted Challenger's price target slightly lower to A$9.44, citing updated sector-wide assumptions on earnings flows, discount rates and future P/E multiples, while still reflecting the same fair value estimate in their models. Analyst Commentary Recent changes to Challenger's valuation echo broader adjustments seen across the alternative asset manager space, where analysts have been fine tuning targets in response to updated assumptions on earnings flows, discount rates and P/E multiples.Narrative Update • Mar 11
CGF: Capital Returns And Fee Margins Will Drive Forward Market Repricing
Analysts have trimmed their A$ price target on Challenger, citing slightly more cautious assumptions on discount rates, revenue trends and margins, while still applying a modestly higher future P/E multiple in line with recent sector research updates. Analyst Commentary Recent commentary on global alternative asset managers provides some context for how analysts are thinking about valuation, growth and execution risks that can be relevant when assessing Challenger.Narrative Update • Feb 23
CGF: Capital Returns And Margin Execution Will Shape Forward Market Sentiment
Analysts have trimmed their price target on Challenger to A$9.44 from A$9.63. This reflects slightly softer revenue growth expectations, a modestly lower discount rate, improved profit margin assumptions and a lower future P/E multiple.Narrative Update • Feb 09
CGF: Sector Sentiment And Fee-Based Opportunities Will Shape Forward Returns
Analysts have nudged up their price target on Challenger, citing slightly higher fair value estimates, a modestly higher discount rate, and a small adjustment to future P/E assumptions as the key drivers of the change. Analyst Commentary Bullish analysts around the sector are using higher price targets and slightly richer P/E assumptions to signal confidence in execution and earnings quality for similar asset managers, and that tone is feeding into how some investors read the recent Challenger target move.Narrative Update • Jan 24
CGF: Sector Sentiment Swings And Credit Risks Will Shape Future Returns
Narrative Update on Challenger Analysts have nudged their price targets on Challenger slightly higher, reflecting a modest uplift in their fair value estimate to 9.58, a small change in the discount rate, and only marginal adjustments to revenue growth, profit margin, and future P/E assumptions. Analyst Commentary Recent Street research around comparable alternative asset managers gives some useful context for how analysts are thinking about valuation, growth, and execution risk for names like Challenger.Narrative Update • Jan 06
CGF: Capital Markets Recovery And Credit Risks Will Shape Future Returns
Analysts have made a modest trim to their price target on Challenger to about A$9.47 from roughly A$9.47. This reflects slight adjustments to fair value, discount rate assumptions and expected P/E, while still seeing support from a recovering capital markets backdrop cited in recent research on alternative asset managers.Narrative Update • Dec 15
CGF: Capital Markets Rebound And Credit Concerns Will Shape Returns Ahead
Analysts have nudged their price target on Challenger modestly higher to reflect a slightly lower perceived risk profile and stable long term earnings multiples, even as they continue to factor in cautious assumptions around capital markets activity and muted near term returns across alternative asset managers. Analyst Commentary Recent sector research on alternative asset managers highlights a mixed but generally constructive backdrop that informs views on Challenger.Narrative Update • Nov 28
CGF: Capital Markets Activity And Credit Conditions Will Drive Sentiment This Year
Challenger's analyst price target has increased slightly, rising from $9.38 to $9.47. Analysts cite broader market stabilization and modest improvements in sector valuation expectations.Narrative Update • Nov 13
CGF: Capital Market Activity And Discount Rates Will Influence Market Sentiment This Year
Challenger's analyst price target has increased modestly, rising by $0.18 to $9.38. Analysts are factoring in stable revenue growth, a slightly improved discount rate, and supportive updates from recent sector research, despite ongoing concerns over valuations and expected returns.Narrative Update • Oct 30
CGF: Future Market Conditions Will Guide Earnings Momentum And Balance Near-Term Risks
Analysts have increased their price target for Challenger from $9.03 to $9.19 per share, citing expectations for improved capital markets conditions and positive momentum in fundamentals. This comes despite modest adjustments to revenue growth and profit margin forecasts.Narrative Update • Oct 16
APRA Reforms And Digital Integration Will Uplift Retirement Income Sectors
Challenger's analyst price target has been modestly increased to $9.03 from $8.83, as analysts cite improving fundamentals and expectations of stronger future performance. Analyst Commentary Recent Street research highlights a range of perspectives on Challenger's outlook, shedding light on both optimism and reservations among analysts.Narrative Update • Sep 04
APRA Reforms And Digital Integration Will Uplift Retirement Income Sectors
Despite improved business momentum, sector tailwinds, and greater earnings diversification supporting a positive outlook, the Challenger consensus Analyst Price Target remained unchanged at A$8.83. Analyst Commentary Bullish analysts cite strong Q2 results and accelerating business momentum as key drivers for upward price target revisions.Analysis Article • Jul 24
Shareholders Should Be Pleased With Challenger Limited's (ASX:CGF) Price
When close to half the companies in Australia have price-to-earnings ratios (or "P/E's") below 18x, you may consider...Analysis Article • Mar 28
Challenger Limited's (ASX:CGF) Price In Tune With Earnings
When close to half the companies in Australia have price-to-earnings ratios (or "P/E's") below 17x, you may consider...
New Narrative • Feb 23
Focus On Longer-Duration Annuities And Technology Will Improve Future Efficiency
Strategic sales shift to longer-duration annuities boosts book quality, earnings, and ROE, with a focus on lifetime and Japanese annuities.Analysis Article • Dec 10
Earnings Tell The Story For Challenger Limited (ASX:CGF)
With a price-to-earnings (or "P/E") ratio of 29.9x Challenger Limited ( ASX:CGF ) may be sending bearish signals at the...Analysis Article • Aug 16
Challenger's (ASX:CGF) Shareholders Will Receive A Bigger Dividend Than Last Year
Challenger Limited's ( ASX:CGF ) dividend will be increasing from last year's payment of the same period to A$0.135 on...Analysis Article • Aug 14
Challenger Limited (ASX:CGF) Not Flying Under The Radar
With a price-to-earnings (or "P/E") ratio of 36.7x Challenger Limited ( ASX:CGF ) may be sending very bearish signals...Analysis Article • Dec 19
Challenger Limited's (ASX:CGF) Earnings Are Not Doing Enough For Some Investors
When close to half the companies in Australia have price-to-earnings ratios (or "P/E's") above 19x, you may consider...Analysis Article • Aug 19
Challenger's (ASX:CGF) Shareholders Will Receive A Bigger Dividend Than Last Year
Challenger Limited's ( ASX:CGF ) periodic dividend will be increasing on the 20th of September to A$0.12, with...Shareholder Returns
| CGF | AU Diversified Financial | AU Market | |
|---|---|---|---|
| 7D | 1.7% | 0.7% | 0.08% |
| 1Y | 25.5% | 14.0% | 3.1% |
Return vs Industry: CGF exceeded the Australian Diversified Financial industry which returned 14% over the past year.
Return vs Market: CGF exceeded the Australian Market which returned 3.1% over the past year.
Price Volatility
| CGF volatility | |
|---|---|
| CGF Average Weekly Movement | 4.0% |
| Diversified Financial Industry Average Movement | 7.2% |
| Market Average Movement | 10.4% |
| 10% most volatile stocks in AU Market | 17.6% |
| 10% least volatile stocks in AU Market | 4.3% |
Stable Share Price: CGF has not had significant price volatility in the past 3 months compared to the Australian market.
Volatility Over Time: CGF's weekly volatility (4%) has been stable over the past year.
About the Company
| Founded | Employees | CEO | Website |
|---|---|---|---|
| n/a | 546 | Nick Hamilton | www.challenger.com.au |
Challenger Limited is a publicly owned investment manager. The company also provides retirement services to its clients. It manages equity mutual funds.
Challenger Limited Fundamentals Summary
| CGF fundamental statistics | |
|---|---|
| Market cap | AU$6.49b |
| Earnings (TTM) | AU$458.80m |
| Revenue (TTM) | AU$2.80b |
14.0x
P/E Ratio2.3x
P/S RatioIs CGF overvalued?
See Fair Value and valuation analysisEarnings & Revenue
| CGF income statement (TTM) | |
|---|---|
| Revenue | AU$2.80b |
| Cost of Revenue | AU$915.60m |
| Gross Profit | AU$1.88b |
| Other Expenses | AU$1.43b |
| Earnings | AU$458.80m |
Last Reported Earnings
Dec 31, 2025
Next Earnings Date
Aug 18, 2026
| Earnings per share (EPS) | 0.67 |
| Gross Margin | 67.30% |
| Net Profit Margin | 16.39% |
| Debt/Equity Ratio | 194.9% |
How did CGF perform over the long term?
See historical performance and comparisonDividends
3.3%
Current Dividend Yield46%
Payout RatioCompany Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2026/05/25 08:25 |
| End of Day Share Price | 2026/05/25 00:00 |
| Earnings | 2025/12/31 |
| Annual Earnings | 2025/06/30 |
Data Sources
The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.
| Package | Data | Timeframe | Example US Source * |
|---|---|---|---|
| Company Financials | 10 years |
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| Analyst Consensus Estimates | +3 years |
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| Market Prices | 30 years |
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| Ownership | 10 years |
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| Management | 10 years |
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| Key Developments | 10 years |
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* Example for US securities, for non-US equivalent regulatory forms and sources are used.
Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.
Analysis Model and Snowflake
Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.
Learn about the world class team who designed and built the Simply Wall St analysis model.
Industry and Sector Metrics
Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.
Analyst Sources
Challenger Limited is covered by 24 analysts. 10 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.
| Analyst | Institution |
|---|---|
| Benjamin Brayshaw | Barrenjoey Markets Pty Limited |
| Andrew Adams | Barrenjoey Markets Pty Limited |
| Marcus Barnard | Bell Potter |