Goodman Group
(ASX: GMG)Share Price and News
Overview of Goodman Group
Goodman Group is a global business providing property solutions for logistics, industrial, and digital infrastructure. Based in Sydney, the company owns, develops, and operates sustainable facilities in key city centres. Its portfolio includes warehousing and distribution centres, as well as data centres supporting e-commerce, cloud computing, and supply chains.
Through operations in Australia, New Zealand, Asia, Europe, and the Americas, Goodman supports some of the largest companies in technology, retail, and logistics. The company prioritises ESG standards in its developments, focusing on energy-efficient buildings, carbon reduction, and long-term tenant partnerships.
Today the group operates across more than 15 countries with hundreds of properties under management, covering tens of millions of square metres of industrial and logistics space.
More recently, Goodman has been investing heavily in data centre infrastructure, reflecting the rapid growth of cloud computing and artificial intelligence. This strategic shift is positioning the company to play a key role in the digital infrastructure required by major global technology companies.
Goodman Group's Company History
Goodman Group was launched in 1989 as Goodman Hardie Industrial Property Trust, focusing on industrial real estate. By 1995, investors could purchase shares in Goodman, gaining exposure to expanding logistics and warehouse properties. In 2000, Goodman Hardie merged with Macquarie Industrial Trust to form Macquarie Goodman Industrial Trust.
This merger enabled the company to undertake larger projects and expand internationally. In 2005, the business adopted the name Goodman Group, becoming a fully integrated property group and listed publicly in that year. Over the following years, Goodman expanded rapidly across Europe, Asia, and the United States, establishing key logistics and distribution hubs as e-commerce and online supply chains grew.
As of mid-May 2025, it has a property portfolio of over $84bn, which delivered it an operating profit of $1.2bn in the first half of FY25. It has 422 total properties, spread across 14 countries. Most of its assets reside in partnerships where GMG has an average stake of 28%. Its traditional specialty was in industrial properties but it has been pivoting to data centres in the past couple of years.
Future Outlook of Goodman Group (ASX: GMG)
As e-commerce, artificial intelligence and cloud computing expand, the need for large-scale warehouses and data centres in major cities has grown significantly, and Goodman is poised to benefit.
One of the key pillars of Goodman’s strategy is the development of high-quality logistics facilities located near major population centres. These “last-mile” warehouses allow retailers and logistics companies to deliver goods more efficiently to customers in densely populated areas.
However, the company’s most significant growth opportunity may come from data centre development. Goodman has been building a global pipeline of sites capable of supporting hyperscale data centres used by cloud providers and AI companies. These projects require large amounts of power and land near major digital infrastructure hubs. In its recent results, Goodman reported A$14.4bn in development work in progress, with approximately 73% related to data centres, highlighting how central this segment has become to its strategy.
The company has also established major investment partnerships, including a $14bndata centre development partnership in Europe and a $2 billion logistics partnership in North America, which help fund new projects and expand its global reach.
Looking ahead, management has provided FY26 guidance targeting approximately 9% growth in operating earnings per security (EPS). The group also expects development activity to accelerate through FY26, with plans to have around 0.5 gigawatts of data centre capacity under development by mid-2026.
If demand for digital infrastructure and logistics facilities continues to expand, Goodman’s development pipeline could support steady earnings growth in the years ahead.
Is GMG a Good Stock to Buy?
Goodman Group is widely regarded as one of the highest-quality real estate companies listed on the ASX. Unlike many traditional property trusts that rely primarily on rental income, Goodman combines property ownership, development and funds management, allowing it to generate multiple revenue streams from its global property platform.
One of the key reasons investors are attracted to Goodman is its exposure to structural growth trends. The expansion of e-commerce has driven strong demand for modern logistics warehouses located close to major cities. At the same time, the rapid growth of artificial intelligence and cloud computing has created enormous demand for new data centres. Goodman has been positioning itself at the centre of both trends. Its portfolio includes logistics properties in many of the world’s largest urban markets, and the company is increasingly developing data centre infrastructure for major technology customers.
The company also benefits from a large development pipeline and partnerships with institutional investors, which allow it to undertake large projects without taking on excessive debt. This capital-partner model has helped Goodman maintain relatively conservative gearing while still expanding its global portfolio.
However, there are still risks to consider. Like most property companies, Goodman can be affected by interest rate changes, property market cycles and economic slowdowns. Higher borrowing costs can impact property valuations and development activity. Valuation is another factor. Goodman has significantly outperformed many other real estate stocks, and some analysts argue that this premium valuation reflects already strong expectations for future growth.
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Frequently Asked Questions
Goodman Group develops, owns, and manages logistics facilities and data centres worldwide. Its properties support major industries such as e-commerce, logistics, and technology, providing essential infrastructure in key urban markets.