Goodman Group

CHIA:GMG Stock Report

Market Cap: AU$73.1b

Goodman Group Valuation

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

Valuation Score

0/6

Valuation Score 0/6

  • Below Fair Value

  • Significantly Below Fair Value

  • Price-To-Book vs Peers

  • Price-To-Book vs Industry

  • Price-To-Book vs Fair Ratio

  • Analyst Forecast

Share Price vs Fair Value

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

Below Fair Value: GMG (A$38.45) is trading above our estimate of fair value (A$31.77)

Significantly Below Fair Value: GMG is trading above our estimate of fair value.

Key Valuation Metric

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

Key metric: As GMG barely has revenue we use its Price-To-Book Ratio for relative valuation analysis.

The above table shows the Price to Book ratio for GMG. This is calculated by dividing GMG's market cap by their current book value.
What is GMG's PB Ratio?
PB Ratio4.2x
BookAU$17.54b
Market CapAU$73.08b

Price to Book Ratio vs Peers

How does GMG's PB Ratio compare to its peers?

The above table shows the PB ratio for GMG vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PBEstimated GrowthMarket Cap
Peer Average0.9x
CIP Centuria Industrial REIT
0.8x15.6%AU$1.9b
DXI Dexus Industria REIT
1.1x43.0%AU$866.1m
GDF Garda Property Group
0.7x81.2%AU$242.7m
SCG Scentre Group
1.1x21.7%AU$19.3b
GMG Goodman Group
4.2x27.3%AU$73.1b

Price-To-Book vs Peers: GMG is expensive based on its Price-To-Book Ratio (4.2x) compared to the peer average (0.9x).

Price to Book Ratio vs Industry

How does GMG's PB Ratio compare vs other companies in the Global Industrial REITs Industry?

0 CompaniesPrice / BookEstimated GrowthMarket Cap
GMG 4.2xIndustry Avg. 0.9xNo. of Companies18PB00.61.21.82.43+
0 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Book vs Industry: GMG is expensive based on its Price-To-Book Ratio (4.2x) compared to the Global Industrial REITs industry average (0.9x).

Price to Book Ratio vs Fair Ratio

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

GMG PB Ratio vs Fair Ratio.
Fair Ratio
Current PB Ratio4.2x
Fair PB Ration/a

Price-To-Book vs Fair Ratio: Insufficient data to calculate GMG's Price-To-Book Fair Ratio for valuation analysis.

Analyst Price Targets

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

The above table shows the analyst GMG forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentAU$38.45
AU$37.96
-1.3%
10.7%AU$42.40AU$27.00n/a11
Nov ’25AU$36.65
AU$37.25
+1.6%
12.8%AU$42.40AU$24.00n/a11
Oct ’25AU$37.20
AU$36.03
-3.1%
12.8%AU$40.70AU$24.00n/a11
Sep ’25AU$33.40
AU$34.04
+1.9%
17.7%AU$40.00AU$19.83n/a12
Aug ’25AU$36.35
AU$33.25
-8.5%
17.3%AU$40.00AU$19.83n/a12
Jul ’25AU$34.95
AU$32.69
-6.5%
17.5%AU$40.00AU$19.83n/a12
Jun ’25AU$33.52
AU$31.45
-6.2%
15.9%AU$37.70AU$19.83n/a12
May ’25AU$31.42
AU$29.88
-4.9%
15.6%AU$35.60AU$19.83n/a13
Apr ’25AU$33.72
AU$29.58
-12.3%
15.4%AU$34.84AU$19.83n/a13
Mar ’25AU$30.55
AU$29.15
-4.6%
14.3%AU$34.13AU$19.83n/a13
Feb ’25AU$25.37
AU$25.64
+1.1%
8.7%AU$28.41AU$19.40n/a12
Jan ’25AU$25.27
AU$24.71
-2.2%
9.4%AU$28.41AU$19.40n/a12
Dec ’24AU$23.10
AU$24.14
+4.5%
12.3%AU$28.41AU$17.34n/a13
Nov ’24AU$21.20
AU$23.88
+12.7%
11.4%AU$28.04AU$17.34AU$36.6513
Oct ’24AU$21.55
AU$24.23
+12.4%
11.3%AU$28.04AU$17.34AU$37.2013
Sep ’24AU$22.97
AU$23.51
+2.4%
11.8%AU$28.04AU$17.34AU$33.4014
Aug ’24AU$20.70
AU$22.17
+7.1%
10.3%AU$24.90AU$17.34AU$36.3514
Jul ’24AU$20.04
AU$22.18
+10.7%
9.3%AU$24.30AU$17.34AU$34.9514
Jun ’24AU$19.81
AU$22.04
+11.3%
9.4%AU$24.30AU$17.34AU$33.5213
May ’24AU$19.62
AU$22.32
+13.8%
7.2%AU$24.10AU$18.60AU$31.4212
Apr ’24AU$18.72
AU$22.26
+18.9%
7.7%AU$24.10AU$18.60AU$33.7212
Mar ’24AU$19.46
AU$22.04
+13.3%
8.2%AU$24.10AU$18.60AU$30.5513
Feb ’24AU$20.21
AU$21.37
+5.7%
8.6%AU$24.60AU$18.00AU$25.3713
Jan ’24AU$17.45
AU$21.34
+22.3%
9.5%AU$24.60AU$18.00AU$25.2714
Dec ’23AU$19.16
AU$21.34
+11.4%
9.5%AU$24.60AU$18.00AU$23.1014
Nov ’23AU$17.62
AU$22.67
+28.7%
8.9%AU$25.40AU$18.00AU$21.2014

Analyst Forecast: Target price is lower than the current share price.

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