How to value GMG and CSL shares

The Goodman Group (ASX:GMG) share price is down around 15.3% since the start of 2025. It's probably worth asking, 'is the GMG share price top value?'
The Goodman Group (ASX:GMG) share price is down around 15.3% since the start of 2025. The CSL Ltd (ASX:CSL) share price is about 2.6% above its 52-week low.

GMG share price in focus

Goodman Group is a global integrated property group founded in 1989 that owns, develops and manages real estate assets across several continents.

The main operational hubs include markets such as Australia, New Zealand, the UK, Japan, the US, and Brazil, making Goodman the largest ASX-listed property group in 2025.

The company’s investment niche includes projects such as warehouses, large-scale logistics facilities and business and office parks. Goodman’s stated mission is to build mutually beneficial, long-term relationships with its customers and deliver high-quality assets.

CSL shares

Previously a government body, CSL is today a publicly-listed global biotechnology company that develops and delivers innovative medicines that save lives, protect public health, and help people with life-threatening medical conditions live full lives.

The company is divided into three core business units: CSL Behring, CSL Seqirus and CSL Vifor. Behring, acquired in 2004, manufactures and distributes blood plasma products. Seqirus is responsible for making flu-related products and performs pandemic-related services for governments. Finally, Vifor makes products for iron deficiency and nephrology (renal/kidney care).

CSL has developed a strong reputation with Australian investors over many decades as being a reliable company and a consistent dividend payer. With the continual rise in healthcare costs and the consistent historical performance, interest in CSL shares remains high today.

GMG & CSL share price valuation

One way to have a ‘fast read’ of where the GMG share price is could be to study something like dividend yield over time. This can give us a sense of the stability of the company and whether they can consistently pay out a percentage of profits.

Remember, the dividend yield is basically the ‘cash flow’ to a shareholder, but it can fluctuate year-to-year or between payments. Currently, Goodman Group shares have a dividend yield of around 0.98%, compared to its 5-year average of 1.28%. In other words, GMG shares are trading lower than their historical average dividend yield. Be careful how you interpret this information though – it could mean that dividends have fallen, or that the share price is increasing, or both. In the case of GMG, we can see that last year’s dividend was less than the 3-year average, so the dividend has been falling.

CSL is offering a historical dividend yield of around 1.52%, which compares to its 5-year average of 1.50%. This is just one of many ways you could put a value on CSL shares. The Rask websites offer free online investing courses, created by analysts explaining valuation methods like Discounted Cash Flow (DCF) and Dividend Discount Models (DDM). They even include free valuation spreadsheets which can help you learn how to value a company like GMG or CSL.

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