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CSL

ASX:CSL
Snowflake Description

Solid track record with reasonable growth potential.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
CSL
ASX
A$125B
Market Cap
  1. Home
  2. AU
  3. Pharmaceuticals & Biotech
Company description

CSL Limited researches, develops, manufactures, markets, and distributes biopharmaceutical and allied products in Australia, the United States, Germany, the United Kingdom, Switzerland, China, and internationally. The last earnings update was 97 days ago. More info.


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CSL Share Price and Events
7 Day Returns
0.5%
ASX:CSL
4.7%
AU Biotechs
0.9%
AU Market
1 Year Returns
49.2%
ASX:CSL
50.9%
AU Biotechs
16.3%
AU Market
CSL Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
CSL (CSL) 0.5% 8.4% 16% 49.2% 173.2% 241.6%
AU Biotechs 4.7% 8.7% 20% 50.9% 168.8% 226.4%
AU Market 0.9% 1.9% 5.1% 16.3% 22.3% 22.5%
1 Year Return vs Industry and Market
  • CSL underperformed the Biotechs industry which returned 50.9% over the past year.
  • CSL outperformed the Market in Australia which returned 16.3% over the past year.
Price Volatility
CSL
Industry
5yr Volatility vs Market

CSL Value

 Is CSL undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of CSL to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for CSL.

ASX:CSL Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 11 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 9.6%
Perpetual Growth Rate 10-Year AU Government Bond Rate 2.3%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for ASX:CSL
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year AU Govt Bond Rate 2.3%
Equity Risk Premium S&P Global 6%
Biotechs Unlevered Beta Simply Wall St/ S&P Global 1.28
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 1.28 (1 + (1- 30%) (5.49%))
1.221
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.22
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2.31% + (1.221 * 5.96%)
9.59%

Discounted Cash Flow Calculation for ASX:CSL using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for CSL is arrived at by discounting future cash flows to their present value using the 2 stage method. We try to start with analysts estimates of free cash flow, however if these are not available we use the most recent financial results. In the 1st stage we continue to grow the free cash flow over a 10 year period, with the growth rate trending towards the perpetual growth rate used in the 2nd stage. The 2nd stage assumes the company grows at a stable rate into perpetuity.

Note: Free cash flow to equity valuations ignore the company's cash or debt.

ASX:CSL DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (USD, Millions) Source Present Value
Discounted (@ 9.59%)
2020 1,126.11 Analyst x2 1,027.59
2021 1,247.44 Analyst x2 1,038.71
2022 1,991.00 Analyst x1 1,512.80
2023 2,531.50 Est @ 27.15% 1,755.20
2024 3,030.12 Est @ 19.7% 1,917.10
2025 3,468.92 Est @ 14.48% 2,002.70
2026 3,844.62 Est @ 10.83% 2,025.41
2027 4,162.76 Est @ 8.27% 2,001.14
2028 4,432.76 Est @ 6.49% 1,944.50
2029 4,664.76 Est @ 5.23% 1,867.24
Present value of next 10 years cash flows $17,092.00
ASX:CSL DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2029 × (1 + g) ÷ (Discount Rate – g)
= $4,664.76 × (1 + 2.31%) ÷ (9.59% – 2.31%)
$65,593.88
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= $65,593.88 ÷ (1 + 9.59%)10
$26,256.30
ASX:CSL Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= $17,092.00 + $26,256.30
$43,348.30
Equity Value per Share
(USD)
= Total value / Shares Outstanding
= $43,348.30 / 453.87
$95.51
ASX:CSL Discount to Share Price
Calculation Result
Exchange Rate USD/AUD
(Reporting currency to currency of ASX:CSL)
1.468
Value per Share
(AUD)
= Value per Share in USD x Exchange Rate (USD/AUD)
= $95.51 x 1.468
A$140.23
Value per share (AUD) From above. A$140.23
Current discount Discount to share price of A$271.99
= -1 x (A$271.99 - A$140.23) / A$140.23
-94%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

  • The current share price of CSL is above its future cash flow value.
Often investors are willing to pay a premium for a company that has a high dividend or the potential for future growth.
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for CSL's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are CSL's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
ASX:CSL PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-06-30) in USD $4.24
ASX:CSL Share Price ** ASX (2019-11-18) in AUD A$271.99
ASX:CSL Share Price converted to USD reporting currency Exchange rate (AUD/ USD) 0.681 $185.25
Global Biotechs Industry PE Ratio Median Figure of 145 Publicly-Listed Biotechs Companies 30.8x
Australia Market PE Ratio Median Figure of 519 Publicly-Listed Companies 18.63x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of CSL.

ASX:CSL PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= ASX:CSL Share Price ÷ EPS (both in USD)

= 185.25 ÷ 4.24

43.73x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • CSL is overvalued based on earnings compared to the Global Biotechs industry average.
  • CSL is overvalued based on earnings compared to the Australia market.
Price based on expected Growth
Does CSL's expected growth come at a high price?
Raw Data
ASX:CSL PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 43.73x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 11 Analysts
11.9%per year
Global Biotechs Industry PEG Ratio Median Figure of 85 Publicly-Listed Biotechs Companies 1.39x
Australia Market PEG Ratio Median Figure of 347 Publicly-Listed Companies 1.58x

*Line of best fit is calculated by linear regression .

ASX:CSL PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 43.73x ÷ 11.9%

3.67x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • CSL is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on CSL's assets?
Raw Data
ASX:CSL PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-06-30) in USD $11.59
ASX:CSL Share Price * ASX (2019-11-18) in AUD A$271.99
ASX:CSL Share Price converted to USD reporting currency Exchange rate (AUD/ USD) 0.681 $185.25
Australia Biotechs Industry PB Ratio Median Figure of 38 Publicly-Listed Biotechs Companies 3.17x
Australia Market PB Ratio Median Figure of 1,584 Publicly-Listed Companies 1.75x
ASX:CSL PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= ASX:CSL Share Price ÷ Book Value per Share (both in USD)

= 185.25 ÷ 11.59

15.99x

* Primary Listing of CSL.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • CSL is overvalued based on assets compared to the AU Biotechs industry average.
X
Value checks
We assess CSL's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Biotechs industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Biotechs industry average (and greater than 0)? (1 check)
  5. CSL has a total score of 0/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

CSL Future Performance

 How is CSL expected to perform in the next 1 to 3 years based on estimates from 11 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
11.9%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is CSL expected to grow at an attractive rate?
  • CSL's earnings growth is expected to exceed the low risk savings rate of 2.3%.
Growth vs Market Checks
  • CSL's earnings growth is expected to exceed the Australia market average.
  • CSL's revenue growth is expected to exceed the Australia market average.
Annual Growth Rates Comparison
Raw Data
ASX:CSL Future Growth Rates Data Sources
Data Point Source Value (per year)
ASX:CSL Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 11 Analysts 11.9%
ASX:CSL Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 11 Analysts 8.7%
Australia Biotechs Industry Earnings Growth Rate Market Cap Weighted Average 13%
Australia Biotechs Industry Revenue Growth Rate Market Cap Weighted Average 10.3%
Australia Market Earnings Growth Rate Market Cap Weighted Average 9.7%
Australia Market Revenue Growth Rate Market Cap Weighted Average 3.7%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
ASX:CSL Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (4 months ago) See Below
Future Estimates Average of up to 11 Analyst Estimates (S&P Global) See Below
All numbers in USD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
ASX:CSL Future Estimates Data
Date (Data in USD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2022-06-30 10,974 2,921 2,707 9
2021-06-30 10,215 2,472 2,453 11
2020-06-30 9,090 2,428 2,095 11
2019-11-18
ASX:CSL Past Financials Data
Date (Data in USD Millions) Revenue Cash Flow Net Income *
2019-06-30 8,539 1,644 1,919
2019-03-31 8,406 1,621 1,861
2018-12-31 8,274 1,597 1,803
2018-09-30 8,094 1,750 1,766
2018-06-30 7,915 1,902 1,729
2018-03-31 7,666 1,662 1,674
2017-12-31 7,417 1,422 1,618
2017-09-30 7,182 1,335 1,478
2017-06-30 6,947 1,247 1,337
2017-03-31 6,802 1,192 1,333
2016-12-31 6,656 1,138 1,329
2016-09-30 6,386 1,158 1,286

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • CSL's earnings are expected to grow by 11.9% yearly, however this is not considered high growth (20% yearly).
  • CSL's revenue is expected to grow by 8.7% yearly, however this is not considered high growth (20% yearly).
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
ASX:CSL Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (4 months ago) See Below
Future Estimates Average of up to 11 Analyst Estimates (S&P Global) See Below

All data from CSL Company Filings, last reported 4 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

ASX:CSL Future Estimates Data
Date (Data in USD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2022-06-30 5.97 6.48 5.55 6.00
2021-06-30 5.41 5.58 5.14 8.00
2020-06-30 4.62 4.84 4.51 8.00
2019-11-18
ASX:CSL Past Financials Data
Date (Data in USD Millions) EPS *
2019-06-30 4.24
2019-03-31 4.11
2018-12-31 3.98
2018-09-30 3.90
2018-06-30 3.82
2018-03-31 3.69
2017-12-31 3.57
2017-09-30 3.25
2017-06-30 2.94
2017-03-31 2.92
2016-12-31 2.90
2016-09-30 2.80

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • CSL is expected to efficiently use shareholders’ funds in the future (Return on Equity greater than 20%).
X
Future performance checks
We assess CSL's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the Australia market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Australia market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
CSL has a total score of 4/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

CSL Past Performance

  How has CSL performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare CSL's growth in the last year to its industry (Biotechs).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • CSL's year on year earnings growth rate has been positive over the past 5 years.
  • CSL's 1-year earnings growth exceeds its 5-year average (11% vs 7.8%)
  • CSL's earnings growth has not exceeded the Global Biotechs industry average in the past year (11% vs 13.5%).
Earnings and Revenue History
CSL's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from CSL Company Filings, last reported 4 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

ASX:CSL Past Revenue, Cash Flow and Net Income Data
Date (Data in USD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-06-30 8,538.60 1,918.70 1,441.60 831.80
2019-03-31 8,406.05 1,861.00 1,441.25 791.15
2018-12-31 8,273.50 1,803.30 1,440.90 750.50
2018-09-30 8,094.40 1,766.10 1,370.95 726.45
2018-06-30 7,915.30 1,728.90 1,301.00 702.40
2018-03-31 7,666.20 1,673.55 1,250.70 712.60
2017-12-31 7,417.10 1,618.20 1,200.40 722.80
2017-09-30 7,182.05 1,477.80 1,191.10 694.85
2017-06-30 6,947.00 1,337.40 1,181.80 666.90
2017-03-31 6,801.55 1,333.25 1,118.45 641.90
2016-12-31 6,656.10 1,329.10 1,055.10 616.90
2016-09-30 6,385.70 1,285.75 1,033.15 615.35
2016-06-30 6,115.30 1,242.40 1,011.20 613.80
2016-03-31 5,982.75 1,324.00 954.05 563.50
2015-12-31 5,850.20 1,405.60 896.90 513.20
2015-09-30 5,654.40 1,392.30 841.35 487.95
2015-06-30 5,458.60 1,379.00 785.80 462.70
2015-03-31 5,481.65 1,366.25 767.65 466.60
2014-12-31 5,504.70 1,353.50 749.50 470.50
2014-09-30 5,419.75 1,330.25 773.05 468.45
2014-06-30 5,334.80 1,307.00 796.60 466.40
2014-03-31 5,188.55 1,269.75 803.30 466.15
2013-12-31 5,042.30 1,232.50 810.00 465.90
2013-09-30 4,996.35 1,221.95 806.15 446.35
2013-06-30 4,950.40 1,211.40 802.30 426.80
2013-03-31 4,862.55 1,177.80 795.15 409.65
2012-12-31 4,774.70 1,144.20 788.00 392.50

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • CSL has efficiently used shareholders’ funds last year (Return on Equity greater than 20%).
  • CSL used its assets more efficiently than the Global Biotechs industry average last year based on Return on Assets.
  • CSL has improved its use of capital last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess CSL's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Biotechs industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
CSL has a total score of 5/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

CSL Health

 How is CSL's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up CSL's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • CSL is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • CSL's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of CSL's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • High level of physical assets or inventory.
  • Debt is covered by short term assets, assets are 1.2x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from CSL Company Filings, last reported 4 months ago.

ASX:CSL Past Debt and Equity Data
Date (Data in USD Millions) Total Equity Total Debt Cash & Short Term Investments
2019-06-30 5,251.30 4,640.20 658.20
2019-03-31 5,251.30 4,640.20 658.20
2018-12-31 4,852.10 4,648.50 668.70
2018-09-30 4,852.10 4,648.50 668.70
2018-06-30 4,079.90 4,362.80 816.30
2018-03-31 4,079.90 4,362.80 816.30
2017-12-31 3,843.00 4,452.90 849.70
2017-09-30 3,843.00 4,452.90 849.70
2017-06-30 3,163.80 3,949.80 849.70
2017-03-31 3,163.80 3,949.80 849.70
2016-12-31 2,906.80 3,529.00 890.00
2016-09-30 2,906.80 3,529.00 890.00
2016-06-30 2,567.20 3,118.50 557.20
2016-03-31 2,567.20 3,118.50 557.20
2015-12-31 2,846.70 3,074.40 1,092.10
2015-09-30 2,846.70 3,074.40 1,092.10
2015-06-30 2,746.90 2,256.20 559.40
2015-03-31 2,746.90 2,256.20 559.40
2014-12-31 2,998.10 2,330.10 1,060.90
2014-09-30 2,998.10 2,330.10 1,060.90
2014-06-30 3,162.00 1,861.30 609.00
2014-03-31 3,162.00 1,861.30 609.00
2013-12-31 3,292.60 1,791.90 696.90
2013-09-30 3,292.60 1,791.90 696.90
2013-06-30 3,017.70 1,652.50 762.70
2013-03-31 3,017.70 1,652.50 762.70
2012-12-31 3,511.70 1,127.80 758.60
  • CSL's level of debt (88.4%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (59% vs 88.4% today).
  • Debt is well covered by operating cash flow (35.4%, greater than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 22x coverage).
X
Financial health checks
We assess CSL's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. CSL has a total score of 4/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

CSL Dividends

 What is CSL's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
1%
Current annual income from CSL dividends. Estimated to be 1.26% next year.
If you bought A$2,000 of CSL shares you are expected to receive A$20 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • CSL's pays a lower dividend yield than the bottom 25% of dividend payers in Australia (2.37%).
  • CSL's dividend is below the markets top 25% of dividend payers in Australia (5.56%).
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
ASX:CSL Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 11 Analyst Estimates (S&P Global) See Below
Global Biotechs Industry Average Dividend Yield Market Cap Weighted Average of 59 Stocks 2.1%
Australia Market Average Dividend Yield Market Cap Weighted Average of 390 Stocks 4%
Australia Minimum Threshold Dividend Yield 10th Percentile 1.5%
Australia Bottom 25% Dividend Yield 25th Percentile 2.4%
Australia Top 25% Dividend Yield 75th Percentile 5.6%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

ASX:CSL Future Dividends Estimate Data
Date (Data in $) Dividend per Share (annual) Avg. No. Analysts
2022-06-30 2.63 10.00
2021-06-30 2.38 12.00
2020-06-30 2.05 12.00
2019-11-18
ASX:CSL Past Annualized Dividends Data
Date (Data in $) Dividend per share (annual) Avg. Yield (%)
2019-08-13 1.850 1.120
2019-02-12 1.780 1.239
2018-08-14 1.860 1.334
2018-02-13 1.510 1.126
2017-08-15 1.360 1.256
2016-08-16 1.260 1.449
2016-02-15 1.240 1.531
2015-08-11 1.240 1.803
2014-09-05 1.297 1.869
2014-08-12 1.200 1.777
2014-02-11 1.060 1.660
2013-09-05 0.992 1.690
2013-08-13 1.020 1.695
2013-02-13 0.850 1.566
2012-08-21 0.845 1.700
2011-08-17 0.755 2.408
2010-08-18 0.704 2.358
2010-02-17 0.612 2.219
2009-08-19 0.661 2.498
2009-02-18 0.379 1.883

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • CSL is not paying a notable dividend for Australia, therefore no need to check if the payments are stable.
  • CSL is not paying a notable dividend for Australia, therefore no need to check if the payments are increasing.
Current Payout to shareholders
What portion of CSL's earnings are paid to the shareholders as a dividend.
  • No need to calculate the sustainability of CSL's dividends as it is not paying a notable one for Australia.
Future Payout to shareholders
  • No need to calculate the sustainability of CSL's dividends in 3 years as they are not expected to pay a notable one for Australia.
X
Income/ dividend checks
We assess CSL's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 1.5%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can CSL afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. CSL has a total score of 0/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

CSL Management

 What is the CEO of CSL's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Paul Perreault
COMPENSATION $11,718,242
AGE 62
TENURE AS CEO 6.3 years
CEO Bio

Mr. Paul R. Perreault, BA (Psychology) has been the Chief Executive Officer and Managing Director of CSL Limited since July 1, 2013. Mr. Perreault serves as the Chief Executive Officer and Managing Director of CSL Behring LLC. He has more than 30 years of healthcare industry experience. He served as the President of CSL Behring UK Limited. He was responsible for all sales, marketing and commercial development activities at CSL Behring. Mr. Perreault served as an Executive Vice President of Commercial Operations at CSL Biotherapies, Inc. He served as the President of CSL Behring GmbH at CSL Ltd. since July 1, 2011. Mr. Perreault served as the President of CSL Behring LLC. He served as an Executive Vice President of Commercial Operations at CSL Ltd. Mr. Perreault served as an Executive Vice President of Worldwide Commercial Operations of CSL Behring LLC. Previously, he served as Vice President and General Manager of the U.S. Commercial Operations at CSL Behring LLC and was responsible for all sales, marketing, medical affairs, training and development, compliance and HR activities within the territory. He joined a CSL predecessor company in 1997 and has held senior roles in sales, marketing and operations. Prior to CSL Behring, he served as Vice President and General Manager of Plasma Operations of Aventis Bio-Services, where he oversaw all plasma operations and compliance initiatives at 79 plasma collection centers in the United States. He managed the Environmental Health and Safety team and the Corporate Marketing Department. Additionally, he served as Vice President and General Manager of the Aventis Behring Hospital Products Business Unit in North America and Puerto Rico. He worked for Wyeth-Ayerst Laboratories for 16 years in various key positions, including Area Business Director, Manager of Marketing Programs and District Sales Manager. He served at Centeon. He has been an Executive Director of CSL Limited since February 13, 2013. He was previously Chairman of the Global Board for the Plasma Protein Therapeutics Association. Mr. Perreault holds BA in Psychology from the University of Central Florida and completed advanced business management training at the Kellogg and Wharton schools of business. He also completed the CSL Executive Leadership program.

CEO Compensation
  • Paul's compensation has been consistent with company performance over the past year, both up more than 20%.
  • Paul's remuneration is higher than average for companies of similar size in Australia.
Management Team Tenure

Average tenure and age of the CSL management team in years:

2.2
Average Tenure
59
Average Age
  • The tenure for the CSL management team is about average.
Management Team

Paul Perreault

TITLE
MD, CEO & Executive Director
COMPENSATION
$12M
AGE
62
TENURE
6.3 yrs

David Lamont

TITLE
Chief Financial Officer
COMPENSATION
$3M
AGE
53
TENURE
3.8 yrs

Robert Cuthbertson

TITLE
Chief Scientific Officer
COMPENSATION
$3M
AGE
64
TENURE
19.8 yrs

Greg Boss

TITLE
Executive VP of Legal & Group General Counsel
COMPENSATION
$2M
AGE
58

Elizabeth Walker

TITLE
Executive VP & Chief Human Resources Officer
COMPENSATION
$1M
AGE
49
TENURE
1.9 yrs

Bill Campbell

TITLE
Executive VP & Chief Commercial Officer
COMPENSATION
$3M
AGE
60
TENURE
2.2 yrs

Bill Mezzanotte

TITLE
Executive VP and Head of Research & Development
COMPENSATION
$2M
AGE
60
TENURE
1.1 yrs

Paul McKenzie

TITLE
Chief Operating Officer
AGE
53
TENURE
0.4 yrs

Mark Dehring

TITLE
Vice President of Investor Relations

Sharon McHale

TITLE
Head of Public Affairs
Board of Directors Tenure

Average tenure and age of the CSL board of directors in years:

5
Average Tenure
62
Average Age
  • The tenure for the CSL board of directors is about average.
Board of Directors

Brian McNamee

TITLE
Independent Chairman
COMPENSATION
$444K
AGE
62
TENURE
1.1 yrs

Paul Perreault

TITLE
MD, CEO & Executive Director
COMPENSATION
$12M
AGE
62
TENURE
6.8 yrs

Robert Cuthbertson

TITLE
Chief Scientific Officer
COMPENSATION
$3M
AGE
64
TENURE
1.1 yrs

Christine O’Reilly

TITLE
Independent Non-Executive Director
COMPENSATION
$223K
AGE
58
TENURE
8.8 yrs

Bruce Brook

TITLE
Independent Non-Executive Director
COMPENSATION
$216K
AGE
64
TENURE
8.3 yrs

Megan Clark

TITLE
Non Executive Director
COMPENSATION
$230K
AGE
60
TENURE
3.8 yrs

Marie McDonald

TITLE
Independent Non-Executive Director
COMPENSATION
$203K
AGE
63
TENURE
6.3 yrs

Shah Hussain

TITLE
Independent Non-Executive Director
COMPENSATION
$201K
AGE
54
TENURE
1.8 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month open market individual insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (A$) Value (A$)
X
Management checks
We assess CSL's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. CSL has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

CSL News

Simply Wall St News

We Think CSL (ASX:CSL) Can Stay On Top Of Its Debt

We note that CSL Limited (ASX:CSL) does have debt on its balance sheet. … ASX:CSL Historical Debt, September 3rd 2019 How Healthy Is CSL's Balance Sheet? … When analysing debt levels, the balance sheet is the obvious place to start.

Simply Wall St -

Should You Be Tempted To Sell CSL Limited (ASX:CSL) Because Of Its P/E Ratio?

See our latest analysis for CSL How Do I Calculate CSL's Price To Earnings Ratio? … The formula for price to earnings is: Price to Earnings Ratio = Price per Share (in the reporting currency) ÷ Earnings per Share (EPS) Or for CSL: P/E of 38.08 = $161.33 (Note: this is the share price in the reporting currency, namely, USD ) ÷ $4.24 (Based on the trailing twelve months to June 2019.) Is A High Price-to-Earnings Ratio Good? … Earnings growth means that in the future the 'E' will be higher.

Simply Wall St -

Does The Data Make CSL Limited (ASX:CSL) An Attractive Investment?

Solid track record with reasonable growth potential CSL’s cash-generating ability is outstanding, with analysts expecting its operating cash flows to flourish by 52% in the upcoming year. … CSL seems to have put its debt to good use, generating operating cash levels of 0.35x total debt in the most recent year. … This is also a good indication as to whether debt is properly covered by the company’s cash flows.

Simply Wall St -

How Should Investors React To CSL Limited's (ASX:CSL) CEO Pay?

According to our data, CSL Limited has a market capitalization of AU$104b, and pays its CEO total annual compensation worth US$11m. … We took a group of companies with market capitalizations over US$8.0b, and calculated the median CEO total compensation to be US$3.5m. … Most shareholders would probably be pleased with CSL Limited for providing a total return of 104% over three years.

Simply Wall St -

The CSL (ASX:CSL) Share Price Has Gained 228%, So Why Not Pay It Some Attention?

This EPS growth is slower than the share price growth of 27% per year, over the same period. … When looking at investment returns, it is important to consider the difference between total shareholder return (TSR) and share price return. … So for companies that pay a generous dividend, the TSR is often a lot higher than the share price return.

Simply Wall St -

CSL Limited (ASX:CSL): What We Can Expect From This Growth Stock

After CSL Limited's (ASX:CSL) earnings announcement in December 2018, analyst consensus outlook appear cautiously optimistic, as a 10% increase in profits is expected in the upcoming year, against the past 5-year average growth rate of 6.4%. … To understand the overall trajectory of CSL's earnings growth over these next fews years, I've fitted a line through these analyst earnings forecast to determine an annual growth rate from the slope. … ASX:CSL Past and Future Earnings, July 1st 2019 From the current net income level of US$1.7b and the final forecast of US$2.3b by 2022, the annual rate of growth for CSL’s earnings is 9.3%.

Simply Wall St -

CSL Limited (ASX:CSL): Poised For Long Term Success?

Generally, analyst consensus outlook appear cautiously optimistic, as a 10% increase in profits is expected in the upcoming year, against the past 5-year average growth rate of 6.4%. … To understand the overall trajectory of CSL's earnings growth over these next fews years, I've fitted a line through these analyst earnings forecast to determine an annual growth rate from the slope. … ASX:CSL Past and Future Earnings, July 1st 2019 From the current net income level of US$1.7b and the final forecast of US$2.3b by 2022, the annual rate of growth for CSL’s earnings is 9.3%.

Simply Wall St -

Do Directors Own CSL Limited (ASX:CSL) Shares?

Institutions will often hold stock in bigger companies, and we expect to see insiders owning a noticeable percentage of the smaller ones. … Companies that used to be publicly owned tend to have lower insider ownership. … Institutions typically measure themselves against a benchmark when reporting to their own investors, so they often become more enthusiastic about a stock once it's included in a major index.

Simply Wall St -

Why CSL Limited (ASX:CSL) Looks Like A Quality Company

The formula for ROE is: Return on Equity = Net Profit ÷ Shareholders' Equity Or for CSL: 37% = US$1.8b ÷ US$4.9b (Based on the trailing twelve months to December 2018.) Most know that net profit is the total earnings after all expenses, but the concept of shareholders' equity is a little more complicated. … Does CSL Have A Good Return On Equity? … If you would prefer check out another company -- one with potentially superior financials -- then do not miss this free list of interesting companies, that have HIGH return on equity and low debt.

Simply Wall St -

What does CSL Limited's (ASX:CSL) Balance Sheet Tell Us About Its Future?

On top of this, CSL has produced cash from operations of US$1.6b during the same period of time, leading to an operating cash to total debt ratio of 34%, signalling that CSL’s operating cash is sufficient to cover its debt. … At the current liabilities level of US$1.9b, it seems that the business has been able to meet these commitments with a current assets level of US$5.6b, leading to a 2.93x current account ratio. … Next Steps: Although CSL’s debt level is towards the higher end of the spectrum, its cash flow coverage seems adequate to meet obligations which means its debt is being efficiently utilised.

Simply Wall St -

CSL Company Info

Description

CSL Limited researches, develops, manufactures, markets, and distributes biopharmaceutical and allied products in Australia, the United States, Germany, the United Kingdom, Switzerland, China, and internationally. The company operates through two segments, CSL Behring and Seqirus. The CSL Behring segment offers plasma therapies for the treatment of immunodeficiency, bleeding disorders, hereditary angioedema, Alpha-1 antitrypsin deficiency, and neurological disorders. This segment also conducts research on plasma and non-plasma therapies; and receives license and royalty from the commercialization of intellectual property. The Seqirus segment manufactures and distributes non-plasma biotherapeutic products; and develops influenza vaccines. CSL Limited was founded in 1916 and is headquartered in Parkville, Australia.

Details
Name: CSL Limited
CSL
Exchange: ASX
Founded: 1916
A$124,695,803,666
453,868,398
Website: http://www.csl.com
Address: CSL Limited
45 Poplar Road,
Parkville,
Victoria, 3052,
Australia
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
ASX CSL Ordinary Shares Australian Securities Exchange AU AUD 02. Jun 1994
OTCPK CMXH.F Ordinary Shares Pink Sheets LLC US USD 02. Jun 1994
DB CSJ Ordinary Shares Deutsche Boerse AG DE EUR 02. Jun 1994
BMV CSL N Ordinary Shares Bolsa Mexicana de Valores MX MXN 02. Jun 1994
CHIA CSL Ordinary Shares Chi-X Australia AU AUD 02. Jun 1994
OTCPK CSLL.Y SPON ADR EACH REPR 0.5 ORD Pink Sheets LLC US USD 16. Oct 2008
DB CSJA SPON ADR EACH REPR 0.5 ORD Deutsche Boerse AG DE EUR 16. Oct 2008
Number of employees
Current staff
Staff numbers
0
CSL employees.
Industry
Biotechnology
Pharmaceuticals & Biotech
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/11/18 10:31
End of day share price update: 2019/11/18 00:00
Last estimates confirmation: 2019/11/12
Last earnings filing: 2019/08/13
Last earnings reported: 2019/06/30
Last annual earnings reported: 2019/06/30


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.