Kalkine: MQG vs COL: Which ASX200 Dividend Stock Holds Stronger Value in 2025?

June 06, 2025 04:45 PM AEST | By Team Kalkine Media

Kalkine: MQG vs COL: Which ASX200 Dividend Stock Holds Stronger Value in 2025? — Image source: Shutterstock

Macquarie Group Ltd (ASX:MQG)

Founded in 1969, Macquarie has evolved into a globally recognised financial services and investment group. What sets it apart from traditional Australian banks is its deep integration with global asset management, particularly across infrastructure, commodities, agriculture, real estate, and equity markets.

Macquarie has a solid track record with over five decades of consistent profitability, demonstrating its ability to manage economic fluctuations effectively. In FY24, it reported a return on equity (ROE) of 10.4%, meeting the general benchmark for mature companies. This reflects the firm’s efficient use of capital in generating profits.

Its debt/equity ratio stood at 258.5% in FY24, indicating a high level of leverage, which underlines the importance of consistent cash flows and risk management. Despite this, the company maintained a steady average dividend yield of 3.2% over the last five years, positioning it firmly among reliable ASX dividend stocks.

Coles Group Ltd (ASX:COL)

Established in 1914 and known across households nationwide, Coles is a staple of Australia’s retail landscape. Since becoming a standalone listed company in 2018, Coles has focused on delivering dependable earnings from its supermarket and retail businesses.

Coles’ FY24 results highlight a remarkable ROE of 32.4%, well above many of its peers in the ASX200 index. This robust figure reflects the company’s efficiency and strong earnings base. Its debt/equity ratio was slightly higher than MQG at 278.4%, also indicating a leveraged capital structure.

From 2019 to 2024, COL achieved an average dividend yield of 3.8%, offering consistent income to investors focused on long-term value creation.

Both MQG and COL stand out as mature, dividend-paying giants within the ASX200. While MQG provides a diversified global financial footprint with historical strength, COL brings retail consistency and stronger ROE performance to the table. Depending on one’s strategy—be it income stability or capital efficiency—both names could merit close attention this year.

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