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Highlights
- GMG shares down over 12% in 2025
- SOL trades close to its 52-week high
- Strong fundamentals, contrasting returns
Two of Australia’s most well-known companies—Goodman Group (GMG) and Washington H. Soul Pattinson & Company Ltd (SOL)—are showing very different market performances this year. While GMG has seen its share price decline by 12.3% since the start of 2025, SOL is trading just 5.6% below its 52-week high. Behind these moves lie some key business fundamentals and long-term strategic positioning worth paying attention to.
Goodman Group (ASX:GMG)
Founded in 1989, GMG is the largest listed property group on the ASX and operates globally with a strong presence in Australia, New Zealand, the UK, Japan, the US, and Brazil. Its core focus is on large-scale logistics infrastructure, warehouses, and business parks. The company places a strong emphasis on sustainability and long-term partnerships, supporting a robust pipeline of high-quality developments.
In FY24, GMG posted a debt/equity ratio of 21.2%, which indicates a solid capital structure with more equity than debt. Over the past five years, it has provided an average dividend yield of 1.3% per year. However, return on equity (ROE) for FY24 came in at just 0.1%, a figure that suggests the business is currently delivering relatively low returns on shareholder capital, especially for a company of its maturity.
Washington H. Soul Pattinson (ASX:SOL)
SOL is one of the oldest continuously listed companies on the ASX, with operations dating back to 1903. It is a diversified investment house with significant holdings across telecommunications, energy, building products, and other sectors. Some notable investments include TPG Telecom, New Hope Group, and Brickworks.
What sets SOL apart is its long-standing track record of consistent dividend payments—it has never missed one since its listing over a century ago. In FY24, SOL reported a debt/equity ratio of just 8.5%, showing a very conservative use of debt. Its average dividend yield since 2019 stands at 2.4%, and it delivered an ROE of 5.6% in FY24.
While GMG and SOL operate in vastly different sectors, both companies present unique insights into market behaviour—GMG with its global real estate footprint and SOL with its diversified, long-term investment approach. Their contrasting valuations and performance metrics highlight how varied strategies can shape long-term outcomes in the ASX landscape.
