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STOCK COMPARISON

Goodman vs Argosy Property: Fair Value & Quality

Both stocks run through our valuation models. Here is how Goodman (GMG) and Argosy Property (IGPYF) compare, as of Sep 30, 2026.

As of Sep 30, 2026, Fair Value Calculator sees Argosy Property as the less overvalued of the two: Goodman trades at A$27.18 versus a fair value of A$12.61 (−53.6%), while Argosy Property trades at $0.75 versus $0.40 (−46.7%).
Goodman
GMG.AU · AUD · Real Estate
−53.6%
upside to fair value
overvalued
PriceA$27.18
Fair ValueA$12.61
Quality66/100
Argosy Property
IGPYF · USD · Real Estate
−46.7%
upside to fair value
overvalued
Price$0.75
Fair Value$0.40
Quality54/100
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Head-to-head numbers

Green is the better side of a row, red the weaker one (for valuation multiples: lower = cheaper). Grey rows are for reference only and are not scored.

betterweakerfor reference, not scored

GoodmanArgosy Property
Valuation
19.7×P/E (TTM)8.3×
17.1×Forward P/E (FY2028)n/a
18.6×Median P/E at FY-end (9 FY, reported earnings)n/a
13.48×P/S (TTM)7.23×
2.19×P/B0.82×
23.6×EV/EBITDA10.5×
2.72×PEGn/a
−53.6%Fair value upside−46.7%
1.1%Dividend yield8.9%
A$0.30Dividend per share$0.07
Profitability
61.0%Operating margin67.6%
1.93×EBIT margin trend (5Y)0.75×
11.5%Return on equity9.4%
4.6%Return on assets3.0%
Growth
65.8%Revenue growth (YoY)2.5%
10.6%Avg. growth/yr (3Y)3.7%
7.3%Avg. growth/yr (5Y)4.2%
−1.7%Value creation/yr+7.4%
Balance & size
143.9×Interest coverage (EBIT/interest)2.8×
0.24×Debt / equity0.54×
$38BMarket cap$655M
healthyGrowth qualityexpensive
Goodman, median P/E at fiscal year-end, 9 fiscal years (2017 to 2026), reported earnings: 18.6.
Forward P/E: price divided by the analyst consensus for the first fiscal year that has not started yet. The current year carries special items from quarters already reported.

Argosy Property leads: 7 to 8 metric wins.

n/a = not meaningfully computable, for example with negative equity.

Quality in detail

The quality score, broken down into the same factor families as on the stock page, 0 to 100 per family.

Goodmanof which business quality 65 · market factors 38 Argosy Propertyof which business quality 49 · market factors 73
ProfitabilityMargins and returns on capital today
43
39
Quality GrowthAre margins and returns improving?
84
36
CashflowEarnings quality: real cash, not paper profit
78
35
Fin. StrengthBalance sheet, leverage, solvency risk
82
45
InvestmentDisciplined investing over empire-building
61
60
Low VolatilityCalm price path (market factor)
64
100
MomentumPrice trend over the last 3–12 months (market factor)
31
52
52W MomentumDistance to the 52-week high (market factor)
19
80
Net IssuanceShare count: buybacks or dilution?
37
100

What the models say

How far the median fair value (base case) per model family sits from the current price, in percent. The amount in the currency of the trading venue is shown underneath.

above the price, more than 15% above close to the price, 85% to 115% of the price below the price, more than 15% below

Model familyGoodmanPrice A$27.18Argosy PropertyPrice $0.75
DCF Models−44.3%below the priceA$15.13−88.7%below the price$0.09
Dividend Discount−80.7%below the priceA$5.24−58.7%below the price$0.31
Multiples−61.7%below the priceA$10.40+18.0%above the price$0.89
Asset-Based−70.1%below the priceA$8.13−18.7%below the price$0.61
Growth DCF−23.6%below the priceA$20.77−81.3%below the price$0.14
Economic Profit−53.4%below the priceA$12.67+6.7%close to the price$0.80
Minimum−80.7%below the priceA$5.24−88.7%below the price$0.09
Maximum−23.6%below the priceA$20.77+18.0%above the price$0.89
Median−57.6%below the priceA$11.54−38.7%below the price$0.46
Geometric mean−59.6%below the priceA$10.99−54.4%below the price$0.34

Minimum, maximum, median and geometric mean refer to the family values in this table. Geometric because deviations are ratios: half the price and twice the price average to 100%, not 125%.

Goodman: 15 of 15 models see the stock below the current price.

Argosy Property: 8 of 11 models see the stock below the current price.

Scenario ranges

From our cautious bear scenario to the optimistic bull scenario. The white tick is the current price (value above it), the green tick the fair value (value below it): if the price sits left of the fair value, there is room to rise.

Goodman
Price A$27.18
Fair Value A$12.61
Bear A$8.30Bull A$17.31
Argosy Property
Price $0.75
Fair Value $0.40
Bear $0.40Bull $0.62

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Ranked within their sector

Where each stock sits within its sector peer group. Band = middle 50% of peers, tick = median, dot = this stock.

Goodman · Real Estate

Quality score66 · Top 25%
Fair value upside−53.6% · bottom 25%

Argosy Property · Real Estate

Quality score54 · above median
Fair value upside−46.7% · bottom 25%

Bottom line

As of Sep 30, 2026, Fair Value Calculator sees Argosy Property as the less overvalued of the two: Goodman trades at A$27.18 versus a fair value of A$12.61 (−53.6%), while Argosy Property trades at $0.75 versus $0.40 (−46.7%).

Goodman has the higher quality score (66/100).

Open Argosy Property live analysis →

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A model-based valuation snapshot from 26 models. Values change with price and fundamentals; the date shown above applies.