Growthpoint Properties Australia (ASX:GOZ) - Share price, News & Analysis

GOZ fundamental analysis
Snowflake Score
Valuation	6/6
Future Growth	0/6
Past Performance	4/6
Financial Health	2/6
Dividends	3/6

GOZ Stock Overview

Growthpoint provides spaces for people to thrive.

Rewards

Trading at 49.2% below our estimate of its fair value

Earnings have grown 14.2% per year over the past 5 years

Risk Analysis

Earnings are forecast to decline by an average of 9.8% per year for the next 3 years

Debt is not well covered by operating cash flow

Dividend of 5.47% is not well covered by earnings

Large one-off items impacting financial results

+ 1 more risk

Growthpoint Properties Australia Competitors

Abacus Property Group

ASX:ABP

AU$2.6b

Centuria Capital Group

ASX:CNI

AU$1.8b

GPT Group

ASX:GPT

AU$9.1b

Stockland

ASX:SGP

AU$9.3b

Price History & Performance

Summary of all time highs, changes and price drops for Growthpoint Properties Australia
Historical stock prices
Current Share Price	AU$3.80
52 Week High	AU$4.48
52 Week Low	AU$3.68
Beta	0.83
1 Month Change	-14.41%
3 Month Change	-7.77%
1 Year Change	2.70%
3 Year Change	-12.44%
5 Year Change	14.11%
Change since IPO	-60.00%

Shareholder Returns

	GOZ	AU REITs	AU Market
7D	-0.3%	-0.4%	1.1%
1Y	2.7%	0.3%	1.5%

Return vs Industry: GOZ exceeded the Australian REITs industry which returned 0.3% over the past year.

Return vs Market: GOZ exceeded the Australian Market which returned 1.5% over the past year.

Price Volatility

Is GOZ's price volatile compared to industry and market?
GOZ volatility
GOZ Average Weekly Movement	3.1%
REITs Industry Average Movement	3.5%
Market Average Movement	9.5%
10% most volatile stocks in AU Market	16.5%
10% least volatile stocks in AU Market	4.3%

Stable Share Price: GOZ is less volatile than 75% of Australian stocks over the past 3 months, typically moving +/- 3% a week.

Volatility Over Time: GOZ's weekly volatility (3%) has been stable over the past year.

About the Company

Founded	Employees	CEO	Website
2006	33	Tim Collyer	https://www.growthpoint.com.au

Growthpoint provides spaces for people to thrive. For more than 10 years, we’ve been investing in high-quality industrial and office properties across Australia. Today, we own and manage 58 properties, valued at approximately $4.2 billion.4 We actively manage our portfolio.

Growthpoint Properties Australia Fundamentals Summary

How do Growthpoint Properties Australia's earnings and revenue compare to its market cap?
GOZ fundamental statistics
Market Cap	AU$2.93b
Earnings (TTM)	AU$721.70m
Revenue (TTM)	AU$290.90m

4.1x

P/E Ratio

10.1x

P/S Ratio

Is GOZ overvalued?

See Fair Value and valuation analysis

Earnings & Revenue

Key profitability statistics from the latest earnings report
GOZ income statement (TTM)
Revenue	AU$290.90m
Cost of Revenue	AU$45.00m
Gross Profit	AU$245.90m
Other Expenses	-AU$475.80m
Earnings	AU$721.70m

Last Reported Earnings

Dec 31, 2021

Next Earnings Date

Aug 16, 2022

Earnings per share (EPS)	0.94
Gross Margin	84.53%
Net Profit Margin	248.09%
Debt/Equity Ratio	44.4%

How did GOZ perform over the long term?

See historical performance and comparison

Dividends

5.5%

Current Dividend Yield

75%

Payout Ratio

New valuation analysis is now available for all ASX stocks. This is in beta.

Future Growth

How is Growthpoint Properties Australia forecast to perform in the next 1 to 3 years based on estimates from 6 analysts?

Future Growth Score

0/6

Future Growth Score 0/6

Earnings vs Savings Rate
Earnings vs Market
High Growth Earnings
Revenue vs Market
High Growth Revenue
Future ROE

-9.8%

Forecasted annual earnings growth

Earnings and Revenue Growth Forecasts

Analyst Future Growth Forecasts

Earnings vs Savings Rate: GOZ's earnings are forecast to decline over the next 3 years (-9.8% per year).

Earnings vs Market: GOZ's earnings are forecast to decline over the next 3 years (-9.8% per year).

High Growth Earnings: GOZ's earnings are forecast to decline over the next 3 years.

Revenue vs Market: GOZ's revenue (0.4% per year) is forecast to grow slower than the Australian market (4.7% per year).

High Growth Revenue: GOZ's revenue (0.4% per year) is forecast to grow slower than 20% per year.

Earnings per Share Growth Forecasts

Future Return on Equity

Future ROE: GOZ's Return on Equity is forecast to be low in 3 years time (5.4%).

Past Performance

How has Growthpoint Properties Australia performed over the past 5 years?

Past Performance Score

4/6

Past Performance Score 4/6

Quality Earnings
Growing Profit Margin
Earnings Trend
Accelerating Growth
Earnings vs Industry
High ROE

14.2%

Historical annual earnings growth

Earnings and Revenue History

Quality Earnings: GOZ has a large one-off gain of A$541.6M impacting its December 31 2021 financial results.

Growing Profit Margin: GOZ's current net profit margins are higher than last year (92.9%).

Past Earnings Growth Analysis

Earnings Trend: GOZ's earnings have grown by 14.2% per year over the past 5 years.

Accelerating Growth: GOZ's earnings growth over the past year (161.6%) exceeds its 5-year average (14.2% per year).

Earnings vs Industry: GOZ earnings growth over the past year (161.6%) underperformed the REITs industry 215.6%.

Return on Equity

High ROE: GOZ's Return on Equity (20.5%) is considered high.

Financial Health

How is Growthpoint Properties Australia's financial position?

Financial Health Score

2/6

Financial Health Score 2/6

Short Term Liabilities
Long Term Liabilities
Debt Level
Reducing Debt
Debt Coverage
Interest Coverage

Financial Position Analysis

Short Term Liabilities: GOZ's short term assets (A$48.9M) do not cover its short term liabilities (A$169.1M).

Long Term Liabilities: GOZ's short term assets (A$48.9M) do not cover its long term liabilities (A$1.6B).

Debt to Equity History and Analysis

Debt Level: GOZ's net debt to equity ratio (43.2%) is considered high.

Reducing Debt: GOZ's debt to equity ratio has reduced from 79.3% to 44.4% over the past 5 years.

Debt Coverage: GOZ's debt is not well covered by operating cash flow (9.6%).

Interest Coverage: GOZ's interest payments on its debt are well covered by EBIT (5.1x coverage).

Balance Sheet

Dividend

What is Growthpoint Properties Australia current dividend yield, its reliability and sustainability?

Dividend Score

4/6

Dividend Score 4/6

Notable Dividend
High Dividend
Stable Dividend
Growing Dividend
Earnings Coverage
Future Dividend Coverage

5.47%

Current Dividend Yield

Dividend Yield vs Market

Notable Dividend: GOZ's dividend (5.47%) is higher than the bottom 25% of dividend payers in the Australian market (2.55%).

High Dividend: GOZ's dividend (5.47%) is low compared to the top 25% of dividend payers in the Australian market (6.11%).

Stability and Growth of Payments

Stable Dividend: GOZ's dividend payments have been volatile in the past 10 years.

Growing Dividend: GOZ's dividend payments have increased over the past 10 years.

Earnings Payout to Shareholders

Earnings Coverage: At its current payout ratio (75.4%), GOZ's payments are covered by earnings.

Cash Payout to Shareholders

Cash Flow Coverage: With its high cash payout ratio (107.3%), GOZ's dividend payments are not well covered by cash flows.

Discover strong dividend paying companies

Management

How experienced are the management team and are they aligned to shareholders interests?

6.2yrs

Average management tenure

CEO

Tim Collyer (53 yo)

11.83yrs

Tenure

AU$2,008,871

Compensation

Mr. Timothy James Collyer, also known as Tim, B.Bus (Prop), Grad Dip Fin & Inv, AAPI, F Fin, MAICD serves as a Managing Director of Growthpoint Properties Australia since July 12, 2010. Mr. Collyer serves...

CEO Compensation Analysis

Compensation vs Market: Tim's total compensation ($USD1.41M) is about average for companies of similar size in the Australian market ($USD1.38M).

Compensation vs Earnings: Tim's compensation has been consistent with company performance over the past year.

Leadership Team

Experienced Management: GOZ's management team is seasoned and experienced (6.2 years average tenure).

Board Members

Experienced Board: GOZ's board of directors are seasoned and experienced ( 12.3 years average tenure).

Ownership

Who are the major shareholders and have insiders been buying or selling?

Insider Trading Volume

Insider Buying: GOZ insiders have sold more shares than they have bought in the past 3 months.

Recent Insider Transactions

Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.

Data	Last Updated (UTC time)
Company Analysis	2022/05/23 00:00
End of Day Share Price	2022/05/23 00:00
Earnings	2021/12/31
Annual Earnings	2021/06/30