Generation Development Group Ltd GDG

Stock XASX Rating as of Oct 28, 2026

A$3.20 +0.13 (4.23%)

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As of Oct 28, 2026, 5:10:10 AM Delayed Price Closed

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Generation Development Group: Continues Gaining Share; We Assume No Margin Gains

Shaun Ler Oct 22, 2026

Generation Development Group reported growth across all its businesses in the first quarter of fiscal 2027, with record investment bond inflows, more products researched and subscribers at Lonsec, and further managed account inflows at Evidentia.

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Price vs Fair Value

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GDG is trading at a LOCK|m%?M#>% premium.

Price

A$3.20

Oct 28, 2026

Fair Value

<.G

Oct 22, 2026

Uncertainty

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1-Star Price: LOCK|mxd
5-Star Price: LOCK|Kf
Economic Moat: LOCK|TtWYw
Capital Allocation: LOCK|JfPq>&

Bulls Say, Bears Say

Bulls

Generation currently benefits from various tailwinds, including favorable tax treatment for investment bonds, growing importance of third-party product research, and contemporary managed account offerings that outshine traditional managed funds.

Bears

Generation’s acquisitive strategy introduces risks of indigestion, including potential underperformance and failure to realize synergies, equity dilution, and excessive leverage.

Trading Information

Previous Close Price: A$3.07
Day Range: A$3.09–3.23
52-Week Range: A$2.57–7.43
Bid/Ask: A$3.10 / A$3.22
Shares Outstanding: 403.52M
Market Cap: A$1.29B
Volume/Avg: 2M / 2M

Key Statistics

Price/Earnings (Normalized): 30.47
Price/Sales: 2.25
Dividend Yield (Trailing): 0.63%
Dividend Yield (Forward): 0.63%
Dividend Payment Schedule: Apr, Oct
Total Yield: 0.63%

Company Profile

Founded in 1991, Generation originally operated as a pooled development fund, focusing on providing capital to businesses in financial services. Today, the firm is structured across three key business lines within wealth management. The first is through Generation Life, the market leader in investment bonds by inflows, which offers tax-effective products, including investment bonds and annuities. The second business line is Lonsec, a prominent research and ratings provider to the Australian financial-services sector, competing against Morningstar and Zenith. The third division provides managed account solutions, a result of the merger between Evidentia and Lonsec Investment Solutions, offering individually owned accounts professionally managed by experienced portfolio managers.

Sector: Financial Services
Industry: Asset Management
Stock Style Box: Small Core
Total Number of Employees: —
Website: https://www.gendevelopmentgroup.com.au

Competitors

Valuation

Metric	GDG	MFG	PPT
Price/Earnings (Normalized)	30.47	9.62	10.24
Price/Book Value	1.75	1.35	1.28
Price/Sales	2.25	6.92	1.80
Price/Cash Flow	37.31	10.58	7.34

Price/Earnings

GDG

MFG

PPT

Financial Strength

Metric	GDG	MFG	PPT
Quick Ratio	—	—	0.75
Current Ratio	—	—	1.58
Interest Coverage	148.74	—	1.31

Quick Ratio

GDG

MFG

PPT

Profitability

Metric	GDG	MFG	PPT
Return on Assets (Normalized)	0.65%	13.37%	5.56%
Return on Equity (Normalized)	5.70%	14.42%	11.64%
Return on Invested Capital (Normalized)	4.54%	—	7.69%

Return on Assets

GDG

MFG

PPT

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