EV-to-FCF is calculated as enterprise value divided by its free cash flow. As of today, Challenger's Enterprise Value is A$-1,961 Mil.
Challenger's Free Cash Flow for the trailing twelve months (TTM) ended in Dec. 2025 was A$1,884 Mil. Therefore, Challenger's EV-to-FCF for today is -1.04.
The historical rank and industry rank for Challenger's EV-to-FCF or its related term are showing as below:
ASX:CGF'
s EV-to-FCF Range Over the Past 10 Years
Min: -47.53 Med: -0.2 Max: 6.81
Current: -1.04
During the past 13 years, the highest EV-to-FCF of Challenger was 6.81. The lowest was -47.53. And the median was -0.20.
ASX:CGF's EV-to-FCF is ranked better than 97.7% of 391
companies
in the Insurance industry
Industry Median: 9.32
vs ASX:CGF: -1.04
EV-to-FCF is a valuation multiple that allows analysts and investors to compare stocks, preferably in the same sector or industry. This important multiple is often used in conjunction with, or as an alternative to, the PE Ratio (TTM) to determine the fair market value of a company.
EV-to-FCF is a valuation multiple that allows analysts and investors to compare stocks, preferably in the same sector or industry. This important multiple is often used in conjunction with, or as an alternative to, the PE Ratio (TTM) to determine the fair market value of a company.
Challenger's share price for today is A$9.75.
For company reported semi-annually, GuruFocus uses latest annual data as the TTM data. Challenger's Earnings per Share (Diluted) for the trailing twelve months (TTM) ended in Dec. 2025 was A$0.619.
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
Enterprise Value is used because it is a more complete measure in reflecting how much an investor pays when buying a company. Free Cash Flow is an important financial metric because it represents the actual amount of cash at a company's disposal. Companies with a low EV-to-FCF ratio, combined with a strong balance sheet are generally considered as undervalued.
Challenger EV-to-FCF Related Terms
Challenger EV-to-FCF Historical Data
* Premium members only.
The historical data trend for Challenger's EV-to-FCF can be seen below:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
For the Insurance - Life subindustry, Challenger's EV-to-FCF, along with its competitors' market caps and EV-to-FCF data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
Challenger EV-to-FCF vs Insurance Industry
For the Insurance industry and Financial Services sector, Challenger's EV-to-FCF distribution charts can be found below:
* The bar in red indicates where Challenger's EV-to-FCF falls into.
Challenger's current Enterprise Value is A$-1,961 Mil.
For company reported semi-annually, GuruFocus uses latest annual data as the TTM data. Challenger's Free Cash Flow for the trailing twelve months (TTM) ended in Dec. 2025 was A$1,884 Mil.
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
Challenger (ASX:CGF) has a EV-to-FCF of -1.04 as of Jun. 27, 2026. EV to FCF ratio is the company's enterprise value divided by free cash flow. View historical data on Challenger and its competitors. According to the industry distribution chart, Challenger ranks #9 out of 391 companies in the Insurance industry, placing it in the top 2.3%.
Is Challenger's EV-to-FCF too high?
Challenger's current EV-to-FCF is -1.04. Based on the distribution chart, Challenger ranks #9 out of 391 companies in the Insurance industry, which is in the top quartile — a strong position relative to peers. Overall, Challenger has a GF Score™ of 58/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Challenger's EV-to-FCF compare to AFL and MET?
According to the Insurance industry distribution chart, Challenger ranks #9 out of 391 companies for EV-to-FCF. This places Challenger in the top 2% of its industry — outperforming the majority of peers. The industry median EV-to-FCF is 9.32. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good EV-to-FCF for an Insurance company?
The median EV-to-FCF among Insurance companies is 9.32, based on 391 companies in the industry. Companies in the top quartile (top 25%) have a EV-to-FCF significantly above this median, while those in the bottom quartile fall well below. However, EV-to-FCF should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high EV-to-FCF mean?
A high EV-to-FCF can signal that a stock is expensive relative to its fundamentals. EV to FCF ratio is the company's enterprise value divided by free cash flow. View historical data on Challenger and its competitors. For the Insurance industry, the median EV-to-FCF is 9.32 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Challenger's current EV-to-FCF is -1.04. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Challenger stock overvalued right now?
Based on GuruFocus' analysis, Challenger (ASX:CGF) is currently considered Significantly Overvalued. The stock's GF Value™ is A$4.09, compared to a current price of A$9.75 — trading 138.4% above its estimated fair value. The current EV-to-FCF is -1.04. Challenger's overall GF Score™ is 58/100 with 9 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is EV-to-FCF calculated?
EV-to-FCF is calculated from a company's financial statements. For Challenger (ASX:CGF), the current EV-to-FCF is -1.04 as of Jun. 27, 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is Challenger (ASX:CGF) Overvalued in 2026?
Based on GuruFocus' analysis, Challenger stock appears to be overvalued.
The current stock price of A$9.75 is trading 138.4% above its estimated GF Value™ of A$4.09.
GuruFocus considers Challenger to be Significantly Overvalued.
Key valuation signals for ASX:CGF:
EV-to-FCF: -1.04
GF Value™: A$4.09 vs. price of A$9.75 (138.4% above fair value)
No single metric tells the full story. See the ASX:CGF stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Challenger's core business is selling annuity products in the Australian retirement market and, since November 2016, selling Australian dollar-denominated annuities into Japan's large retirement market. The firm's annuity products provide investors guaranteed regular payments over an agreed term for an upfront lump sum investment and is designed primarily to protect investors from the longevity risk of outliving their savings. Challenger also operates a funds management business, Fidante Partners, which has minority stakes in several boutique global investment managers, and Challenger Investment Management, which primarily manages investments supporting its annuities business.
58GF Score
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