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Australian retirement-income provider selling annuities and life insurance, plus a funds-management arm.
Australian retirement-income provider selling annuities and life insurance, plus a funds-management arm.
Takes retirees' lump sums and promises regular payments for a set term or for life, earning the gap between the return on the bonds and property it buys with those funds and the payments it owes. Sales therefore depend on interest rates, and fees from its funds-management arm add a second, steadier line.
In one line: An Australian annuities specialist like Athene.
Moat: narrow (regulatory licence, scale, brand). Australia's largest annuity provider under an APRA life-insurance licence, a high barrier to new entrants.
Headquarters: Sydney, Australia · Founded: 1985 · Employees: 577
Size Challenger (CGF.AX) is an Australia Financials company (Life/Health Insurance) with a market value of $5.59B, the 63rd largest of 316 Australia companies the cockpit tracks. Shares closed at A$12.06 on 6 Nov 2026.
Performance Over six months the shares gained 35.5%, against +8.4% for the median peer and +4.1% for the Australia market (cap-weighted) — 2nd highest of 21 in its peer set.
Growth Revenue fell 24.9% over the last twelve months (peer median +13.8%); the operating margin is 51.2% (peer median 7.5%).
Valuation It trades at 2.01× book value against a peer median of 3.19× (8th cheapest of 20).
Price implies The share price implies a return on equity of about 15.8%; Challenger delivers 13.3%, so the price asks more than the business earns today.
Next results Next results expected around 11 Feb 2027 (exchange calendar; dates can move).
| TTM | FY2026 | FY2025 | FY2024 | FY2023 | |
|---|---|---|---|---|---|
| Revenue | A$2.32B | A$2.21B | A$3.03B | A$2.95B | A$2.25B |
| Revenue growth | — | -27% | +3% | +31% | — |
| Net income | A$564M | A$506M | A$192M | A$130M | A$171M |
| Free cash flow | A$1.90B | A$1.90B | A$399M | A$842M | A$1.27B |
| Capital expenditure | A$500,000 | A$500,000 | A$200,000 | A$1.90M | A$7.90M |
| Total debt | n/a | A$8.46B | A$8.27B | A$7.13B | A$5.89B |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | ROE | Price / book | Implied ROE |
|---|---|---|---|---|---|---|
| Challenger CGF.AX | $5.59B | +36% | -25% | 13% | 2.01× | 15.8% |
| AMP AMP.AX | $3.69B | +46% | -5% | 5% | 1.52× | 15.1% |
| Generation Development GDG.AX | $897M | -23% | +66% | 4% | 1.75× | 15.0% |
| Perpetual PPT.AX | $1.42B | +11% | -16% | 4% | 1.31× | 14.0% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | CGF.AX | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +23.1% | +1.1% | highest of 21 |
| 6-month return | +35.5% | +8.4% | 2nd highest of 21 |
| Return on equity | 13.3% | 10.4% | 8th highest of 21 |
| Price / book | 2.01× | 3.19× | 8th cheapest of 20 |
| Trailing P/E | 17.4× | 13.7× | 7th most expensive of 19 |
| ROE the price implies | 15.8% | 21.6% | 8th least demanding of 19 |
| ROE delivered | 13.3% | 11.2% | 8th highest of 20 |
| Company | Market | Market cap | 6M return | Revenue growth | ROE | Price / book | Implied ROE | Delivered ROE |
|---|---|---|---|---|---|---|---|---|
| Challenger CGF.AX | Australia | $5.59B | +36% | -25% | 13% | 2.01× | 15.8% | 13.3% |
| E-L Financial ELF.TO | Canada | $4.74B | +10% | +32% | 20% | 0.68× | 6.4% | 20.2% |
| Max Financial Services MFSL.NS | India | $4.68B | -25% | +18% | 3% | 7.71× | 78.7% | 3.3% |
| ICICI Life Insurance ICICILIFE.NS | India | $6.77B | -22% | -8% | 13% | 4.67× | 65.0% | 12.6% |
| St. James's Place STJ.L | United Kingdom | $7.48B | -3% | +164% | 38% | 3.64× | 43.3% | 38.4% |
| Jackson Financial Incorporation JXN | United States | $8.70B | +17% | +34% | 9% | 1.10× | 12.5% | 9.5% |
| Star Health & Allied Insurance STARHEALTH.NS | India | $3.52B | +9% | +21% | 12% | 3.19× | 47.7% | 11.7% |
| Voya Financial VOYA | United States | $8.91B | +21% | -3% | 14% | 2.34× | 17.2% | 14.3% |
| Primerica PRI | United States | $8.94B | +6% | +8% | 33% | 3.56× | 24.9% | 32.9% |
| COFCO Capital 002423.SZ | China | $3.15B | -11% | -31% | 6% | 0.85× | 6.2% | 5.6% |
| Medibank Private MPL.AX | Australia | $9.94B | +14% | +9% | 27% | 5.90× | 23.8% | 26.8% |
| Privia Health PRVA | United States | $3.12B | +6% | +24% | 4% | 3.94× | 25.4% | 3.8% |
| JAPAN POST INSURANCE 7181.T | Japan | $11.2B | +8% | -6% | 4% | 0.38× | 2.9% | 4.2% |
| Clover Health Investments CLOV | United States | $2.56B | +54% | +54% | -5% | 6.32× | 94.7% | -5.1% |
| Standard Life SDLF.L | United Kingdom | $12.5B | +25% | +135% | -179% | 38.09× | n/a | -179.3% |
| Brighthouse Financial BHF | United States | $2.45B | -31% | +3% | 14% | 0.37× | 5.2% | 13.6% |
| HDFC Life Insurance HDFCLIFE.NS | India | $13.0B | -10% | +19% | 11% | 6.31× | 72.0% | 11.2% |
| T&d 8795.T | Japan | $14.0B | +21% | +6% | 9% | 1.32× | 5.6% | 9.3% |
| Equitable EQH | United States | $14.1B | +24% | +6% | -183% | n/a | n/a | n/a |
| Hanwha Life 088350.KS | South Korea | $2.16B | -20% | +18% | 8% | 0.22× | 3.8% | 7.7% |
| Corebridge Financial CRBG | United States | $14.9B | +25% | +10% | 22% | 2.41× | 19.3% | 21.7% |