ASX:CTX

Stock Analysis Report

Caltex Australia

Executive Summary

Caltex Australia Limited engages in purchasing, refining, and distributing petroleum products in Australia, New Zealand, and Singapore.


Snowflake Analysis

Excellent balance sheet average dividend payer.

Share Price & News

How has Caltex Australia's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: CTX's share price has been volatile over the past 3 months.


Market Performance


7 Day Return

17.4%

CTX

4.4%

AU Oil and Gas

0.3%

AU Market


1 Year Return

-14.9%

CTX

-48.2%

AU Oil and Gas

-22.9%

AU Market

Return vs Industry: CTX exceeded the Australian Oil and Gas industry which returned -48.2% over the past year.

Return vs Market: CTX exceeded the Australian Market which returned -22.9% over the past year.


Shareholder returns

CTXIndustryMarket
7 Day17.4%4.4%0.3%
30 Day-31.8%-37.2%-25.3%
90 Day-34.3%-49.2%-29.9%
1 Year-12.4%-14.9%-46.1%-48.2%-19.4%-22.9%
3 Year-15.9%-24.5%-40.7%-48.0%-8.3%-20.8%
5 Year-23.6%-36.0%-40.0%-50.7%2.9%-20.3%

Price Volatility Vs. Market

How volatile is Caltex Australia's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

Is Caltex Australia undervalued compared to its fair value and its price relative to the market?

44.3%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: CTX (A$22.3) is trading below our estimate of fair value (A$40.07)

Significantly Below Fair Value: CTX is trading below fair value by more than 20%.


Price To Earnings Ratio

PE vs Industry: CTX is poor value based on its PE Ratio (14.7x) compared to the Oil and Gas industry average (7x).

PE vs Market: CTX is poor value based on its PE Ratio (14.7x) compared to the Australian market (12.6x).


Price to Earnings Growth Ratio

PEG Ratio: CTX is poor value based on its PEG Ratio (1.6x)


Price to Book Ratio

PB vs Industry: CTX is overvalued based on its PB Ratio (1.7x) compared to the AU Oil and Gas industry average (0.7x).


Next Steps

Future Growth

How is Caltex Australia forecast to perform in the next 1 to 3 years based on estimates from 12 analysts?

9.2%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: CTX's forecast earnings growth (9.2% per year) is above the savings rate (1.1%).

Earnings vs Market: CTX's earnings (9.2% per year) are forecast to grow slower than the Australian market (9.7% per year).

High Growth Earnings: CTX's earnings are forecast to grow, but not significantly.

Revenue vs Market: CTX's revenue (2.6% per year) is forecast to grow slower than the Australian market (4% per year).

High Growth Revenue: CTX's revenue (2.6% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: CTX's Return on Equity is forecast to be low in 3 years time (15.7%).


Next Steps

Past Performance

How has Caltex Australia performed over the past 5 years?

10.6%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: CTX has high quality earnings.

Growing Profit Margin: CTX's current net profit margins (1.7%) are lower than last year (2.6%).


Past Earnings Growth Analysis

Earnings Trend: CTX's earnings have grown by 10.6% per year over the past 5 years.

Accelerating Growth: CTX's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.

Earnings vs Industry: CTX had negative earnings growth (-31.7%) over the past year, making it difficult to compare to the Oil and Gas industry average (-16%).


Return on Equity

High ROE: CTX's Return on Equity (11.7%) is considered low.


Next Steps

Financial Health

How is Caltex Australia's financial position?


Financial Position Analysis

Short Term Liabilities: CTX's short term assets (A$3.7B) exceed its short term liabilities (A$3.2B).

Long Term Liabilities: CTX's short term assets (A$3.7B) exceed its long term liabilities (A$1.9B).


Debt to Equity History and Analysis

Debt Level: CTX's debt to equity ratio (27.6%) is considered satisfactory.

Reducing Debt: CTX's debt to equity ratio has increased from 27.3% to 27.6% over the past 5 years.

Debt Coverage: CTX's debt is well covered by operating cash flow (93.5%).

Interest Coverage: CTX's interest payments on its debt are well covered by EBIT (5.2x coverage).


Balance Sheet

Inventory Level: CTX has a high level of physical assets or inventory.

Debt Coverage by Assets: CTX's debt is covered by short term assets (assets are 4.1x debt).


Next Steps

Dividend

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

3.72%

Current Dividend Yield


Dividend Yield vs Market

Notable Dividend: CTX's dividend (3.72%) is higher than the bottom 25% of dividend payers in the Australian market (3.35%).

High Dividend: CTX's dividend (3.72%) is low compared to the top 25% of dividend payers in the Australian market (8.5%).


Stability and Growth of Payments

Stable Dividend: CTX's dividend payments have been volatile in the past 10 years.

Growing Dividend: CTX's dividend payments have increased over the past 10 years.


Current Payout to Shareholders

Dividend Coverage: With its reasonable payout ratio (54.9%), CTX's dividend payments are covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: CTX's dividends in 3 years are forecast to be covered by earnings (59.1% payout ratio).


Next Steps

Management

How experienced are the management team and are they aligned to shareholders interests?

3.7yrs

Average board tenure


CEO

Matthew Halliday

no data

Tenure

AU$2,277,287

Compensation

Mr. Matthew Halliday is Interim Chief Executive Officer at Caltex Australia Limited since March 2, 2020. He was Chief Financial Officer at Caltex Australia Limited from April 15, 2019 to March 2, 2020. In  ...


CEO Compensation Analysis

Compensation vs Market: Matthew's total compensation ($USD1.40M) is below average for companies of similar size in the Australian market ($USD2.57M).

Compensation vs Earnings: Insufficient data to compare Matthew's compensation with company performance.


Board Members

NamePositionTenureCompensationOwnership
Steven Gregg
Independent Non-Executive Chairman2.58yrsAU$550.84k0.0024% A$130.8k
Barbara Ward
Independent Non-Executive Director4.92yrsAU$255.80k0.0026% A$141.7k
Mark Chellew
Independent Non-Executive Director1.92yrsAU$227.11k0.00056% A$30.5k
Penelope Winn
Independent Non-Executive Director4.33yrsAU$255.58k0.0024% A$129.1k
Melinda Conrad
Independent Non-Executive Director3yrsAU$227.27k0.0032% A$174.4k
Bruce William Morgan
Independent Non-Executive Director6.75yrsAU$256.61k0.0042% A$228.8k

3.7yrs

Average Tenure

60yo

Average Age

Experienced Board: CTX's board of directors are considered experienced (3.7 years average tenure).


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Recent Insider Transactions

Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.


Top Shareholders

Company Information

Caltex Australia Limited's company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Caltex Australia Limited
  • Ticker: CTX
  • Exchange: ASX
  • Founded: 1900
  • Industry: Oil and Gas Refining and Marketing
  • Sector: Energy
  • Market Cap: AU$5.449b
  • Shares outstanding: 249.71m
  • Website: https://www.caltex.com.au

Number of Employees


Location

  • Caltex Australia Limited
  • 2 Market Street
  • Level 24
  • Sydney
  • New South Wales
  • 2000
  • Australia

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
CTXA.FOTCPK (Pink Sheets LLC)YesOrdinary SharesUSUSDJan 1992
CTXASX (Australian Securities Exchange)YesOrdinary SharesAUAUDJan 1992
CLZDB (Deutsche Boerse AG)YesOrdinary SharesDEEURJan 1992
CTXCHIA (Chi-X Australia)YesOrdinary SharesAUAUDJan 1992
CLZBRSE (Berne Stock Exchange)YesOrdinary SharesCHCHFJan 1992
CAUASX (Australian Securities Exchange)NPVAUAUDOct 2019

Biography

Caltex Australia Limited engages in purchasing, refining, and distributing petroleum products in Australia, New Zealand, and Singapore. The company operates through Convenience Retail, and Fuels & Infrastructure segments. The Convenience Retail segment sells fuels through a Caltex network of stores. The Fuels and Infrastructure segment wholesales fuels and lubricants. It distributes its products through a network of depots, diesel stops, marine facilities, and service station sites. Caltex Australia Limited was founded in 1900 and is headquartered in Sydney, Australia. 


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/03/30 10:32
End of Day Share Price2020/03/30 00:00
Earnings2019/12/31
Annual Earnings2019/12/31


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.