Challenger (CGF) Stock Overview
A publicly owned investment manager. More details
| Snowflake Score | |
|---|---|
| Valuation | 3/6 |
| Future Growth | 1/6 |
| Past Performance | 4/6 |
| Financial Health | 4/6 |
| Dividends | 3/6 |
CGF Community Fair Values
Create NarrativeSee what 21 others think this stock is worth. Follow their fair value or set your own to get alerts.
Analyst Price Targets
Challenger Limited Competitors
Price History & Performance
| Historical stock prices | |
|---|---|
| Current Share Price | AU$10.29 |
| 52 Week High | AU$10.85 |
| 52 Week Low | AU$7.25 |
| Beta | 0.59 |
| 1 Month Change | 6.19% |
| 3 Month Change | 4.89% |
| 1 Year Change | 19.79% |
| 3 Year Change | 60.28% |
| 5 Year Change | 60.53% |
| Change since IPO | 303.53% |
Recent News & Updates
Narrative Update • Aug 19
CGF: Higher Multiple And Dividend Payout Will Face Execution Test
Analysts have lifted their Challenger price targets by A$0.40 to A$0.43, citing updated assumptions that include a higher fair value estimate, a revised discount rate, steeper revenue declines, stronger profit margins and a higher future P/E multiple. Analyst Commentary Recent commentary on asset managers offers some useful context for Challenger investors who are weighing the updated price targets.
New Narrative • Jul 28
Aging Population And APRA Reforms Will Support Long-Term Retirement Income Upside
Catalysts About Challenger Challenger focuses on guaranteed retirement income products and related investment and reinsurance solutions. What are the underlying business or industry changes driving this perspective?
Narrative Update • Jul 17
CGF: Retirement Tailwinds And Breakout Pattern Will Shape Balanced Risk Profile
Analysts have lifted their price target for Challenger to A$10.32 from A$9.75, citing slightly lower required returns, a modestly improved profit margin outlook and updated assumptions for long term P/E multiples across asset managers. Analyst Commentary Recent valuation work on Challenger is being shaped by broader views on listed asset managers, where research on peers highlights both supportive and challenging factors for the sector.Recent updates
Narrative Update • Aug 19
CGF: Higher Multiple And Dividend Payout Will Face Execution Test
Analysts have lifted their Challenger price targets by A$0.40 to A$0.43, citing updated assumptions that include a higher fair value estimate, a revised discount rate, steeper revenue declines, stronger profit margins and a higher future P/E multiple. Analyst Commentary Recent commentary on asset managers offers some useful context for Challenger investors who are weighing the updated price targets.New Narrative • Jul 28
Aging Population And APRA Reforms Will Support Long-Term Retirement Income Upside
Catalysts About Challenger Challenger focuses on guaranteed retirement income products and related investment and reinsurance solutions. What are the underlying business or industry changes driving this perspective?Narrative Update • Jul 17
CGF: Retirement Tailwinds And Breakout Pattern Will Shape Balanced Risk Profile
Analysts have lifted their price target for Challenger to A$10.32 from A$9.75, citing slightly lower required returns, a modestly improved profit margin outlook and updated assumptions for long term P/E multiples across asset managers. Analyst Commentary Recent valuation work on Challenger is being shaped by broader views on listed asset managers, where research on peers highlights both supportive and challenging factors for the sector.New Narrative • Jul 14
Offshore Reinsurance And Private Credit Dependence Will Strain Future Retirement Income Margins
Catalysts About Challenger Challenger focuses on retirement income products, annuities and funds management, with a core presence in the Australian market and an expanding offshore reinsurance business. What are the underlying business or industry changes driving this perspective?Narrative Update • Jul 03
CGF: Retirement Tailwinds And Chart Breakout Will Shape Balanced Risk Reward
Analysts have nudged their fair value estimate for Challenger up from A$9.43 to A$9.75. This reflects slightly lower discount rate assumptions, a marginally weaker revenue outlook, and a modestly higher projected profit margin and future P/E multiple.Narrative Update • Jun 18
CGF: Retirement Tailwinds And Risk Recalibration Will Guide Future Share Repricing
Analysts have trimmed their Challenger price target to A$9.43. This reflects slightly lower assumed risk in the discount rate while keeping fair value and earnings expectations broadly unchanged.Narrative Update • Jun 03
CGF: Earnings Delivery And P E Calibration Will Shape Future Repricing Path
Analysts have nudged their fair value estimate for Challenger slightly higher to A$9.43 from A$9.38, reflecting small adjustments to discount rate assumptions, revenue growth expectations and projected profit margins, while keeping future P/E assumptions broadly in line with recent sector research updates. Analyst Commentary Recent sector research around global alternative asset managers, including several price target cuts for Carlyle from large brokers such as JPMorgan and others, highlights how quickly sentiment can swing when earnings quality is under scrutiny.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.
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.Shareholder Returns
| CGF | AU Diversified Financial | AU Market | |
|---|---|---|---|
| 7D | -0.6% | 2.0% | 0.003% |
| 1Y | 19.8% | 14.5% | -2.0% |
Return vs Industry: CGF exceeded the Australian Diversified Financial industry which returned 14.5% over the past year.
Return vs Market: CGF exceeded the Australian Market which returned -2% over the past year.
Price Volatility
| CGF volatility | |
|---|---|
| CGF Average Weekly Movement | 4.0% |
| Diversified Financial Industry Average Movement | 6.6% |
| Market Average Movement | 9.5% |
| 10% most volatile stocks in AU Market | 16.6% |
| 10% least volatile stocks in AU Market | 3.9% |
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 | 506 | 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$6.88b |
| Earnings (TTM) | AU$469.10m |
| Revenue (TTM) | AU$2.87b |
14.8x
P/E Ratio2.4x
P/S RatioIs CGF overvalued?
See Fair Value and valuation analysisEarnings & Revenue
| CGF income statement (TTM) | |
|---|---|
| Revenue | AU$2.87b |
| Cost of Revenue | AU$719.20m |
| Gross Profit | AU$2.15b |
| Other Expenses | AU$1.68b |
| Earnings | AU$469.10m |
Last Reported Earnings
Jun 30, 2026
Next Earnings Date
Feb 11, 2027
| Earnings per share (EPS) | 0.70 |
| Gross Margin | 74.93% |
| Net Profit Margin | 16.35% |
| Debt/Equity Ratio | 207.4% |
How did CGF perform over the long term?
See historical performance and comparisonDividends
3.1%
Current Dividend Yield46%
Payout RatioCompany Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2026/09/21 14:56 |
| End of Day Share Price | 2026/09/21 00:00 |
| Earnings | 2026/06/30 |
| Annual Earnings | 2026/06/30 |
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 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 17 analysts. 9 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 |
|---|---|
| Andrew Adams | Barrenjoey Markets Pty Limited |
| Marcus Barnard | Bell Potter |
| Freya Kong | BofA Global Research |