GENERATION DEVELOPMENT GROUP LIMITED (GDG)
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GDG

GDG - GENERATION DEVELOPMENT GROUP LIMITED

FNArena Sector : Wealth Management & Investments
Year End: June
GICS Industry Group : Insurance
Debt/EBITDA: 0.02
Index: ASX200 | ASX300 | ALL-ORDS

LAST PRICE CHANGE +/- CHANGE % VOLUME

$5.12

03 Feb
2026

-0.040

OPEN

$5.17

-0.78%

HIGH

$5.22

1,178,365

LOW

$5.09

TARGET
$7.524 47.0% upside
Franking for last dividend paid out: 100%
OTHER COMPANIES IN THE SAME SECTOR
AEF . AMP . ASX . BVS . CGF . CVW . DJW . ENN . GQG . HMC . HUB . IFL . IFT . IRE . KAM . KSL . MAF . MFG . MQG . NGI . NWL . PAC . PNI . PPS . PPT . QAL . RPL . RZI . WHF .
FNARENA'S MARKET CONSENSUS FORECASTS
GDG: 1
Title FY24
Actual		 FY25
Actual		 FY26
Forecast		 FY27
Forecast
EPS (cps) xxx 11.6 10.8 xxx
DPS (cps) xxx 2.0 2.5 xxx
EPS Growth xxx 100.0% - 6.9% xxx
DPS Growth xxx 2.7% 23.8% xxx
PE Ratio xxx N/A 46.0 xxx
Dividend Yield xxx N/A 0.5% xxx
Div Pay Ratio(%) xxx 17.2% 22.9% xxx

Dividend yield today if purchased 3 years ago: 1.49%

DIVIDEND YIELD CALCULATOR

Dividend Yield Today On Last Actual Payout :

 0.40

Estimated Dividend Growth
(Average Of Past Three Years)

  %

Amount Invested

 $ 

Tell Me The Dividend After This Many Years
Past performance is no guarantee for the future. Investors should take into account that heavy swings in share price or exceptional circumstances (a la 2009) can have a significant impact on short term calculations and averages

Last ex-div: 05/09 - ex-div 1.00c (franking 100%)

HISTORICAL DATA ARE ALL IN AUD
Copyright © 2026 FactSet UK Limited. All rights reserved
Title 202020212022202320242025
EPS Basic xxxxxxxxxxxxxxx11.6
DPS All xxxxxxxxxxxxxxx2.0
Sales/Revenue xxxxxxxxxxxxxxx219.5 M
Book Value Per Share xxxxxxxxxxxxxxx178.3
Net Operating Cash Flow xxxxxxxxxxxxxxx21.9 M
Net Profit Margin xxxxxxxxxxxxxxx17.42 %

EPS Basic

DPS All

Sales/Revenue

Book Value Per Share

Net Operating Cash Flow

Net Profit Margin

Title 202020212022202320242025
Return on Capital Employed xxxxxxxxxxxxxxx8.39 %
Return on Invested Capital xxxxxxxxxxxxxxx8.32 %
Return on Assets xxxxxxxxxxxxxxx0.83 %
Return on Equity xxxxxxxxxxxxxxx8.39 %
Return on Total Capital xxxxxxxxxxxxxxx79.04 %
Free Cash Flow ex dividends xxxxxxxxxxxxxxx12.5 M

Return on Capital Employed

Return on Invested Capital

Return on Assets

Return on Equity

Return on Total Capital

Free Cash Flow ex dividends

Title 202020212022202320242025
Short-Term Debt xxxxxxxxxxxxxxx2 M
Long Term Debt xxxxxxxxxxxxxxx5 M
Total Debt xxxxxxxxxxxxxxx7 M
Goodwill - Gross xxxxxxxxxxxxxxx577 M
Cash & Equivalents - Generic xxxxxxxxxxxxxxx4,661 M
Price To Book Value xxxxxxxxxxxxxxx3.08

Short-Term Debt

Long Term Debt

Total Debt

Goodwill - Gross

Cash & Equivalents - Generic

Price To Book Value

Title 202020212022202320242025
Capex xxxxxxxxxxxxxxx4.1 M
Capex % of Sales xxxxxxxxxxxxxxx1.89 %
Cost of Goods Sold xxxxxxxxxxxxxxx40 M
Selling, General & Admin. Exp & Other xxxxxxxxxxxxxxx-185 M
Research & Development xxxxxxxxxxxxxxx-
Investments - Total xxxxxxxxxxxxxxx0 M

Capex

Capex % of Sales

Cost of Goods Sold

Selling, General & Admin. Exp & Other

Research & Development

Investments - Total

EXPERT VIEWS
Display All Commentary

Sentiment Indicator

1.0

No. Of Recommendations

5
BROKER DATE RATING RECOMMENDATION TARGET PRICE % TO REACH TARGET COMMENTARY

Morgans

xx/xx/xxxx

1

xxx

$xx.xx

xx.xx%

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Macquarie

xx/xx/xxxx

1

xxxxxxxxxx

$xx.xx

xx.xx%

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Citi

23/01/2026

1

Buy

$7.50

46.48%

According to Citi, Generation Development announced a mixed 2Q26 update, with FUM up 17% y/y due to more moderate net flows in Evidentia, which the analyst attributes to a deferral of timing on mandates.

The trend is expected to improve in 2H26 and a forecast FUM of $40.5bn is retained. Noting quarterly flows can be “lumpy”, Citi continues to view the outlook for managed accounts will be boosted by structural tailwinds.

Investment bonds continue to progress well above expectations before Division 296 tailwinds come in, the broker states.

Citi trims EPS forecasts by -0.8% for FY26 and lifts FY27 by around 0.1%. Buy rating and $7.50 target retained.

Morgan Stanley

xx/xx/xxxx

1

xxxxxxxxxx

$xx.xx

xx.xx%

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Bell Potter

xx/xx/xxxx

1

xxx

$xx.xx

xx.xx%

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Access Stockbroker Research History >
EXTRA COVERAGE
Display All Commentary

No. Of Recommendations

2

Please note: unlike Broker Call Report, BC Extra is not updated daily. The info you see might not be the latest. FNArena does its best to update ASAP.

BROKER DATE RATING RECOMMENDATION TARGET PRICE % TO REACH TARGET COMMENTARY

Moelis

xx/xx/xxxx

1

xxx

$xx.xx

xx.xx%

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Petra Capital

12/11/2025

1

Buy

$7.35

43.55%

As outlined at Generation Development's AGM by management, the managed account market is flagged to grow to $520bn by FY30, a CAGR of 15% between FY25-FY30, and remains an underexposed area with just 16%.

The analyst believes the company is well positioned in investment bonds and has the opportunity to achieve similar success in annuities, even though it has just $65m in annuities currently, but has shown success in competing and taking market share from incumbents.

Target price is raised to $7.35 from $7.17.

FORECAST
Petra Capital forecasts a full year FY26 dividend of 2.50 cents and EPS of 11.20 cents.
Petra Capital forecasts a full year FY27 dividend of 4.90 cents and EPS of 14.10 cents.
Access Extra Coverage Research History >

GDG STOCK CHART

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