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GOZ

Growthpoint Properties Australia ASX:GOZ Stock Report

Last Price

AU$3.74

Market Cap

AU$2.9b

7D

-0.5%

1Y

-4.8%

Updated

07 Aug, 2022

Data

Company Financials +
GOZ fundamental analysis
Snowflake Score
Valuation5/6
Future Growth0/6
Past Performance4/6
Financial Health2/6
Dividends3/6

GOZ Stock Overview

Growthpoint provides spaces for people to thrive.

Growthpoint Properties Australia Competitors

Price History & Performance

Summary of all time highs, changes and price drops for Growthpoint Properties Australia
Historical stock prices
Current Share PriceAU$3.74
52 Week HighAU$4.48
52 Week LowAU$3.31
Beta0.90
1 Month Change5.06%
3 Month Change-1.58%
1 Year Change-4.84%
3 Year Change-14.22%
5 Year Change17.61%
Change since IPO-60.63%

Recent News & Updates

Shareholder Returns

GOZAU REITsAU Market
7D-0.5%-0.9%1.0%
1Y-4.8%-7.9%-7.9%

Return vs Industry: GOZ exceeded the Australian REITs industry which returned -7.9% over the past year.

Return vs Market: GOZ exceeded the Australian Market which returned -7.9% over the past year.

Price Volatility

Is GOZ's price volatile compared to industry and market?
GOZ volatility
GOZ Average Weekly Movement3.7%
REITs Industry Average Movement4.1%
Market Average Movement10.6%
10% most volatile stocks in AU Market17.5%
10% least volatile stocks in AU Market4.7%

Stable Share Price: GOZ is less volatile than 75% of Australian stocks over the past 3 months, typically moving +/- 4% a week.

Volatility Over Time: GOZ's weekly volatility (4%) has been stable over the past year.

About the Company

FoundedEmployeesCEOWebsite
200633Tim Collyerhttps://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 CapAU$2.89b
Earnings (TTM)AU$721.70m
Revenue (TTM)AU$290.90m

4.0x

P/E Ratio

9.9x

P/S Ratio

Earnings & Revenue

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

Last Reported Earnings

Dec 31, 2021

Next Earnings Date

Aug 16, 2022

Earnings per share (EPS)0.94
Gross Margin84.53%
Net Profit Margin248.09%
Debt/Equity Ratio44.4%

How did GOZ perform over the long term?

See historical performance and comparison

Dividends

5.6%

Current Dividend Yield

75%

Payout Ratio
We’ve recently updated our valuation analysis.

Valuation

Is GOZ undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

5/6

Valuation Score 5/6

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Below Fair Value

  • Significantly Below Fair Value

  • Analyst Forecast

Key Valuation Metric

Which metric is best to use when looking at relative valuation for GOZ?

Other financial metrics that can be useful for relative valuation.

GOZ key valuation metrics and ratios. From Price to Earnings, Price to Sales and Price to Book to Price to Earnings Growth Ratio, Enterprise Value and EBITDA.
Key Statistics
Enterprise Value/Revenue15.5x
Enterprise Value/EBITDA20.1x
PEG Ratio-0.3x

Price to Earnings Ratio vs Peers

How does GOZ's PE Ratio compare to its peers?

GOZ PE Ratio vs Peers
The above table shows the PE ratio for GOZ vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyPEEstimated GrowthMarket Cap
Peer Average15.5x
ABP Abacus Property Group
4.8x-8.7%AU$2.6b
GPT GPT Group
5.9x-13.6%AU$8.4b
SGP Stockland
5.8x-17.2%AU$9.2b
CNI Centuria Capital Group
45.5x15.3%AU$1.5b
GOZ Growthpoint Properties Australia
4x-12.1%AU$2.9b

Price-To-Earnings vs Peers: GOZ is good value based on its Price-To-Earnings Ratio (4x) compared to the peer average (15.5x).


Price to Earnings Ratio vs Industry

How does GOZ's PE Ratio compare vs other companies in the AU REITs Industry?

Price-To-Earnings vs Industry: GOZ is good value based on its Price-To-Earnings Ratio (4x) compared to the Australian REITs industry average (6.8x)


Price to Earnings Ratio vs Fair Ratio

What is GOZ's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

GOZ PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio4x
Fair PE Ratio9.8x

Price-To-Earnings vs Fair Ratio: GOZ is good value based on its Price-To-Earnings Ratio (4x) compared to the estimated Fair Price-To-Earnings Ratio (9.8x).


Share Price vs Fair Value

What is the Fair Price of GOZ when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: GOZ (A$3.74) is trading below our estimate of fair value (A$7.45)

Significantly Below Fair Value: GOZ is trading below fair value by more than 20%.


Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

Analyst Forecast: Target price is less than 20% higher than the current share price.


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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


-12.1%

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 (-12.1% per year).

Earnings vs Market: GOZ's earnings are forecast to decline over the next 3 years (-12.1% per year).

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

Revenue vs Market: GOZ's revenue (1.4% per year) is forecast to grow slower than the Australian market (5.7% per year).

High Growth Revenue: GOZ's revenue (1.4% 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 (5.6%).


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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 182.6%.


Return on Equity

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


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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


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Dividend

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

Dividend Score

3/6

Dividend Score 3/6

  • Notable Dividend

  • High Dividend

  • Stable Dividend

  • Growing Dividend

  • Earnings Coverage

  • Cash Flow Coverage


5.56%

Current Dividend Yield

Dividend Yield vs Market

Notable Dividend: GOZ's dividend (5.56%) is higher than the bottom 25% of dividend payers in the Australian market (2.62%).

High Dividend: GOZ's dividend (5.56%) is low compared to the top 25% of dividend payers in the Australian market (6.24%).


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 (107.4%), GOZ's dividend payments are not well covered by cash flows.


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Management

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

6.4yrs

Average management tenure


CEO

Tim Collyer (54 yo)

12.08yrs

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 ($USD1.38M) is about average for companies of similar size in the Australian market ($USD1.58M).

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 (6.4 years average tenure).


Board Members

Experienced Board: GOZ's board of directors are seasoned and experienced ( 12.5 years average tenure).


Ownership

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


Insider Trading Volume

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Recent Insider Transactions

Ownership Breakdown

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


Top Shareholders

Company Information

Growthpoint Properties Australia's employee growth, exchange listings and data sources


Key Information

  • Name: Growthpoint Properties Australia
  • Ticker: GOZ
  • Exchange: ASX
  • Founded: 2006
  • Industry: Diversified REITs
  • Sector: Real Estate
  • Implied Market Cap: AU$2.886b
  • Shares outstanding: 771.67m
  • Website: https://www.growthpoint.com.au

Number of Employees


Location

  • Growthpoint Properties Australia
  • 35 Collins Street
  • Level 31
  • Melbourne
  • Victoria
  • 3000
  • Australia

Listings


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2022/08/07 00:00
End of Day Share Price2022/08/05 00:00
Earnings2021/12/31
Annual Earnings2021/06/30


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 here.