A Look At Goodman Group’s Valuation After The DataBank Los Angeles Data Center Partnership

Simply Wall St.

Apr 15

AdvertisementWhy DataBank’s LA deal matters for Goodman Group Goodman Group (ASX:GMG) has entered a joint venture with DataBank to develop a 32MW data center in Los Angeles, a supply constrained ...

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See our latest analysis for Goodman Group. Goodman Group’s A$28.40 share price sits against a 30 day share price return of 11.72%, while the 1 year total shareholder return of 3.70% and 5 year total shareholder return of 57.61% point to longer term momentum supported by projects such as the DataBank venture. If this data center story has you thinking about other digital infrastructure opportunities, it may be worth scanning 37 AI infrastructure stocks With A$28.40 per stapled security, a 22.5% gap to the A$34.79 analyst target and a recent 30 day return of 11.72%, the key question is simple: is Goodman still mispriced, or is the DataBank growth story already in the price? Most Popular Narrative: 18.4% Undervalued Analyst consensus pegs Goodman Group’s fair value at A$34.79 per security, compared with the last close of A$28.40, and ties that gap closely to data center and logistics growth supported by partnered capital.  Acceleration in data center development, supported by secured power in high-barrier-to-entry metro locations and capital partnerships, positions Goodman to benefit from AI, cloud, and digital infrastructure demand, with a significant increase in Work-In-Progress (WIP) expected to drive revenue and long-term earnings growth.  Read the complete narrative. Curious what revenue trajectory, margin profile, and future earnings multiple are baked into that A$34.79 figure? The narrative leans on ambitious scaling, richer profitability, and a premium valuation that assumes Goodman keeps delivering on these high-spec assets. Result: Fair Value of A$34.79 (UNDERVALUED) Have a read of the narrative in full and understand what's behind the forecasts. However, this hinges on big assumptions. Heavy data center spending, cost overruns or slower partner funding could all quickly reverse that undervaluation story. Find out about the key risks to this Goodman Group narrative. Another View: Price Ratios Paint a Tougher Picture That A$34.79 fair value and 18.4% implied undervaluation sit uncomfortably beside the current P/E of 34.3x. The fair ratio is 15.1x, peers sit around 15.3x, and the wider Industrial REITs group is at 17.3x, which points to a rich valuation that could limit upside if sentiment cools. For a closer look at how those ratios stack up against history and peers, and what that could mean for valuation risk, See what the numbers say about this price — find out in our valuation breakdown. ASX:GMG P/E Ratio as at Apr 2026Next Steps If this mix of optimism and caution has you weighing the story, it makes sense to review the data now and shape your own view by checking 3 key rewards. Looking for more investment ideas? If Goodman has sharpened your focus on quality, do not stop here, the market is full of other opportunities waiting for investors who are willing to look.  Spot fresh upside potential by reviewing screener containing 14 high quality undiscovered gems that combine solid fundamentals with less crowded investor attention. Strengthen your core holdings by checking solid balance sheet and fundamentals stocks screener (19 results) that aim for resilient finances and dependable business profiles. Lock in potential income streams by assessing 7 dividend fortresses offering higher yields that could complement growth focused positions.   This article by Simply Wall St is general in nature. We provide commentary based on historical data\n    and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your\n    financial situation. We aim to bring you long-term focused analysis driven by fundamental data.\n    Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material.\n    Simply Wall St has no position in any stocks mentioned.New: Manage All Your Stock Portfolios in One PlaceWe've created the ultimate portfolio companion for stock investors, and it's free.• Connect an unlimited number of Portfolios and see your total in one currency• Be alerted to new Warning Signs or Risks via email or mobile• Track the Fair Value of your stocksTry a Demo Portfolio for FreeHave feedback on this article? Concerned about the content? Get in touch with us directly. 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