Loading...

Caltex Australia

ASX:CTX
Snowflake Description

Flawless balance sheet second-rate dividend payer.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
CTX
ASX
A$7B
Market Cap
  1. Home
  2. AU
  3. Energy
Company description

Caltex Australia Limited engages in purchasing, refining, distributing, selling, and suppling petroleum products in Australia, New Zealand, and Singapore. The last earnings update was 58 days ago. More info.


Add to Portfolio Compare Print
CTX Share Price and Events
7 Day Returns
2.7%
ASX:CTX
3.4%
AU Oil and Gas
0.5%
AU Market
1 Year Returns
-11.4%
ASX:CTX
5.7%
AU Oil and Gas
4.9%
AU Market
CTX Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Caltex Australia (CTX) 2.7% 5.7% 3% -11.4% -14.4% 23.3%
AU Oil and Gas 3.4% 0.7% 9.8% 5.7% 34.8% -30.3%
AU Market 0.5% 1.9% 8% 4.9% 19.5% 6.3%
1 Year Return vs Industry and Market
  • CTX underperformed the Oil and Gas industry which returned 5.7% over the past year.
  • CTX underperformed the Market in Australia which returned 4.9% over the past year.
Price Volatility
CTX
Industry
5yr Volatility vs Market

Value

 Is Caltex Australia 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 Caltex Australia 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 Caltex Australia.

ASX:CTX 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 8.5%
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:CTX
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year AU Govt Bond Rate 2.3%
Equity Risk Premium S&P Global 6%
Oil and Gas Unlevered Beta Simply Wall St/ S&P Global 0.96
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.959 (1 + (1- 30%) (13.84%))
1.035
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.03
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2.31% + (1.035 * 5.96%)
8.48%

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

The calculations below outline how an intrinsic value for Caltex Australia 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.

ASX:CTX DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (AUD, Millions) Source Present Value
Discounted (@ 8.48%)
2019 508.00 Analyst x2 468.30
2020 527.00 Analyst x2 447.85
2021 329.00 Analyst x1 257.74
2022 224.67 Est @ -31.71% 162.25
2023 176.36 Est @ -21.5% 117.41
2024 151.03 Est @ -14.36% 92.69
2025 136.90 Est @ -9.36% 77.45
2026 128.88 Est @ -5.86% 67.22
2027 124.49 Est @ -3.41% 59.85
2028 122.39 Est @ -1.69% 54.24
Present value of next 10 years cash flows A$1,804.99
ASX:CTX DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2028 × (1 + g) ÷ (Discount Rate – g)
= A$122.39 × (1 + 2.31%) ÷ (8.48% – 2.31%)
A$2,030.86
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= A$2,030.86 ÷ (1 + 8.48%)10
A$900.07
ASX:CTX Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= A$1,804.99 + A$900.07
A$2,705.06
Equity Value per Share
(AUD)
= Total value / Shares Outstanding
= A$2,705.06 / 249.71
A$10.83
ASX:CTX Discount to Share Price
Calculation Result
Value per share (AUD) From above. A$10.83
Current discount Discount to share price of A$27.45
= -1 x (A$27.45 - A$10.83) / A$10.83
-153.4%

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

  • The current share price of Caltex Australia 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 Caltex Australia's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Caltex Australia's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
ASX:CTX PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-12-31) in AUD A$2.15
ASX:CTX Share Price ** ASX (2019-04-24) in AUD A$27.45
Australia Oil and Gas Industry PE Ratio Median Figure of 23 Publicly-Listed Oil and Gas Companies 8.09x
Australia Market PE Ratio Median Figure of 544 Publicly-Listed Companies 16.19x

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

** Primary Listing of Caltex Australia.

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

= ASX:CTX Share Price ÷ EPS (both in AUD)

= 27.45 ÷ 2.15

12.78x

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

  • Caltex Australia is overvalued based on earnings compared to the AU Oil and Gas industry average.
  • Caltex Australia is good value based on earnings compared to the Australia market.
Price based on expected Growth
Does Caltex Australia's expected growth come at a high price?
Raw Data
ASX:CTX PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 12.78x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 11 Analysts
2.6%per year
Australia Oil and Gas Industry PEG Ratio Median Figure of 17 Publicly-Listed Oil and Gas Companies 0.24x
Australia Market PEG Ratio Median Figure of 359 Publicly-Listed Companies 1.38x

*Line of best fit is calculated by linear regression .

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

= PE Ratio ÷ Net Income Annual Growth Rate

= 12.78x ÷ 2.6%

4.99x

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

  • Caltex Australia is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on Caltex Australia's assets?
Raw Data
ASX:CTX PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-12-31) in AUD A$12.93
ASX:CTX Share Price * ASX (2019-04-24) in AUD A$27.45
Australia Oil and Gas Industry PB Ratio Median Figure of 145 Publicly-Listed Oil and Gas Companies 1.3x
Australia Market PB Ratio Median Figure of 1,676 Publicly-Listed Companies 1.68x
ASX:CTX PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= ASX:CTX Share Price ÷ Book Value per Share (both in AUD)

= 27.45 ÷ 12.93

2.12x

* Primary Listing of Caltex Australia.

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

  • Caltex Australia is overvalued based on assets compared to the AU Oil and Gas industry average.
X
Value checks
We assess Caltex Australia'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 Oil and Gas 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 Oil and Gas industry average (and greater than 0)? (1 check)
  5. Caltex Australia has a total score of 1/6, 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.

Future Performance

 How is Caltex Australia 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
2.6%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Caltex Australia expected to grow at an attractive rate?
  • Caltex Australia's earnings growth is expected to exceed the low risk savings rate of 2.3%.
Growth vs Market Checks
  • Caltex Australia's earnings growth is positive but not above the Australia market average.
  • Caltex Australia's revenue growth is expected to exceed the Australia market average.
Annual Growth Rates Comparison
Raw Data
ASX:CTX Future Growth Rates Data Sources
Data Point Source Value (per year)
ASX:CTX Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 11 Analysts 2.6%
ASX:CTX Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 11 Analysts 3.3%
Australia Oil and Gas Industry Earnings Growth Rate Market Cap Weighted Average 4.2%
Australia Oil and Gas Industry Revenue Growth Rate Market Cap Weighted Average 2.7%
Australia Market Earnings Growth Rate Market Cap Weighted Average 6.7%
Australia Market Revenue Growth Rate Market Cap Weighted Average 3%

*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:CTX Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 11 Analyst Estimates (S&P Global) See Below
All numbers in AUD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
ASX:CTX Future Estimates Data
Date (Data in AUD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2023-12-31 24,974 607 1
2022-12-31 23,927 576 1
2021-12-31 24,332 860 581 7
2020-12-31 24,005 824 564 9
2019-12-31 22,870 776 495 9
ASX:CTX Past Financials Data
Date (Data in AUD Millions) Revenue Cash Flow Net Income *
2018-12-31 21,731 597 560
2018-09-30 20,290 649
2018-06-30 23,961 778 737
2018-03-31 22,679 757 678
2017-12-31 16,286 735 619
2017-09-30 16,697 588
2017-06-30 17,107 700 556
2017-03-31 17,520 814 583
2016-12-31 17,933 928 610
2016-09-30 18,285 975 537
2016-06-30 18,636 1,021 465
2016-03-31 19,281 953 493

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Caltex Australia's earnings are expected to grow by 2.6% yearly, however this is not considered high growth (20% yearly).
  • Caltex Australia's revenue is expected to grow by 3.3% 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:CTX Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 11 Analyst Estimates (S&P Global) See Below

All data from Caltex Australia Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

ASX:CTX Future Estimates Data
Date (Data in AUD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2023-12-31 2.43 2.43 2.43 1.00
2022-12-31 2.30 2.30 2.30 1.00
2021-12-31 2.29 2.40 2.20 5.00
2020-12-31 2.23 2.54 2.09 7.00
2019-12-31 1.90 2.15 1.61 7.00
ASX:CTX Past Financials Data
Date (Data in AUD Millions) EPS *
2018-12-31 2.15
2018-09-30 2.49
2018-06-30 2.82
2018-03-31 2.60
2017-12-31 2.37
2017-09-30 2.25
2017-06-30 2.14
2017-03-31 2.23
2016-12-31 2.32
2016-09-30 2.02
2016-06-30 1.74
2016-03-31 1.83

*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.
  • Caltex Australia is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess Caltex Australia'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.
Caltex Australia has a total score of 2/6, 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.

Past Performance

  How has Caltex Australia 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 Caltex Australia's growth in the last year to its industry (Oil and Gas).
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.
  • Caltex Australia's year on year earnings growth rate has been positive over the past 5 years.
  • Caltex Australia's 1-year earnings growth is negative, it can't be compared to the 5-year average.
  • Caltex Australia's 1-year earnings growth is negative, it can't be compared to the AU Oil and Gas industry average.
Earnings and Revenue History
Caltex Australia'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 Caltex Australia Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

ASX:CTX Past Revenue, Cash Flow and Net Income Data
Date (Data in AUD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2018-12-31 21,731.34 560.42 1,285.47
2018-09-30 20,289.73 648.76 1,246.85
2018-06-30 23,960.56 737.10 1,251.23
2018-03-31 22,679.40 678.09 1,222.08
2017-12-31 16,285.81 619.09 1,149.93
2017-09-30 16,696.60 587.71 1,126.33
2017-06-30 17,107.39 556.33 1,102.72
2017-03-31 17,520.30 583.13 1,079.29
2016-12-31 17,933.20 609.94 1,055.87
2016-09-30 18,284.67 537.50 1,046.15
2016-06-30 18,636.13 465.05 1,036.44
2016-03-31 19,281.34 493.28 1,055.12
2015-12-31 19,926.55 521.51 1,073.81
2015-09-30 20,563.01 376.72 1,126.92
2015-06-30 21,199.48 231.94 1,180.04
2015-03-31 22,715.34 125.94 1,187.61
2014-12-31 24,231.20 19.93 1,195.19
2014-09-30 25,092.09 258.79 1,069.02
2014-06-30 25,952.98 497.65 942.84
2014-03-31 25,314.68 513.84 837.07
2013-12-31 24,676.38 530.03 731.30
2013-09-30 23,959.59 307.43 710.07
2013-06-30 23,242.80 84.84 688.84
2013-03-31 23,392.29 70.81 677.30
2012-12-31 23,541.78 56.78 665.76
2012-09-30 23,297.32 -379.77 656.62
2012-06-30 23,052.87 -816.32 647.49

*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.
  • Caltex Australia has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Caltex Australia used its assets less efficiently than the AU Oil and Gas industry average last year based on Return on Assets.
  • Caltex Australia's use of capital deteriorated last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Caltex Australia'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 Oil and Gas 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.
Caltex Australia has a total score of 1/6, 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.

Health

 How is Caltex Australia'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 Caltex Australia's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Caltex Australia is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Caltex Australia's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Caltex Australia'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 3x 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 Caltex Australia Company Filings, last reported 3 months ago.

ASX:CTX Past Debt and Equity Data
Date (Data in AUD Millions) Total Equity Total Debt Cash & Short Term Investments
2018-12-31 3,389.06 961.34 6.14
2018-09-30 3,389.06 961.34 6.14
2018-06-30 3,337.18 1,075.22 34.20
2018-03-31 3,337.18 1,075.22 34.20
2017-12-31 3,107.90 858.92 44.52
2017-09-30 3,107.90 858.92 44.52
2017-06-30 2,911.58 800.04 69.80
2017-03-31 2,911.58 800.04 69.80
2016-12-31 2,810.22 698.47 244.86
2016-09-30 2,810.22 698.47 244.86
2016-06-30 2,630.41 711.93 19.11
2016-03-31 2,630.41 711.93 19.11
2015-12-31 2,787.81 697.00 263.76
2015-09-30 2,787.81 697.00 263.76
2015-06-30 2,757.77 737.44 19.21
2015-03-31 2,757.77 737.44 19.21
2014-12-31 2,532.59 692.28 53.12
2014-09-30 2,532.59 692.28 53.12
2014-06-30 2,713.11 992.01 165.01
2014-03-31 2,713.11 992.01 165.01
2013-12-31 2,597.03 942.33 199.92
2013-09-30 2,597.03 942.33 199.92
2013-06-30 2,292.25 944.83 216.02
2013-03-31 2,292.25 944.83 216.02
2012-12-31 2,159.58 949.93 209.93
2012-09-30 2,159.58 949.93 209.93
2012-06-30 2,307.54 796.87 16.69
  • Caltex Australia's level of debt (28.4%) compared to net worth is satisfactory (less than 40%).
  • The level of debt compared to net worth has been reduced over the past 5 years (36.3% vs 28.4% today).
  • Debt is well covered by operating cash flow (62%, greater than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 16.5x coverage).
X
Financial health checks
We assess Caltex Australia'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. Caltex Australia has a total score of 6/6, 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.

Dividends

 What is Caltex Australia'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
4.3%
Current annual income from Caltex Australia dividends. Estimated to be 4.81% next year.
If you bought A$2,000 of Caltex Australia shares you are expected to receive A$86 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?
  • Caltex Australia's pays a higher dividend yield than the bottom 25% of dividend payers in Australia (2.52%).
  • Caltex Australia's dividend is below the markets top 25% of dividend payers in Australia (5.72%).
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:CTX 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
Australia Oil and Gas Industry Average Dividend Yield Market Cap Weighted Average of 13 Stocks 4.5%
Australia Market Average Dividend Yield Market Cap Weighted Average of 417 Stocks 4.3%
Australia Minimum Threshold Dividend Yield 10th Percentile 1.6%
Australia Bottom 25% Dividend Yield 25th Percentile 2.5%
Australia Top 25% Dividend Yield 75th Percentile 5.7%

Industry and Market average data is calculated daily.

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

ASX:CTX Future Dividends Estimate Data
Date (Data in A$) Dividend per Share (annual) Avg. No. Analysts
2023-12-31 1.58 1.00
2022-12-31 1.50 1.00
2021-12-31 1.45 10.00
2020-12-31 1.36 12.00
2019-12-31 1.14 12.00
ASX:CTX Past Annualized Dividends Data
Date (Data in A$) Dividend per share (annual) Avg. Yield (%)
2019-02-25 1.180 4.346
2018-08-27 1.180 4.243
2018-02-26 1.220 3.859
2017-08-28 1.120 3.317
2017-02-20 1.220 3.956
2016-02-22 1.170 3.650
2015-02-23 1.000 2.956
2014-08-25 0.370 1.184
2014-02-24 0.340 1.514
2013-08-26 0.400 2.113
2013-02-26 0.400 1.960
2012-02-27 0.450 2.905
2011-08-22 0.340 2.797
2011-02-21 0.600 4.641
2010-08-23 0.600 4.638
2010-02-22 0.250 2.330
2009-08-28 0.000 0.000

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

  • Caltex Australia has been paying a dividend for less than 10 years and during this time payments have been volatile (annual drop of over 20%).
  • Dividend payments have increased, but Caltex Australia only paid a dividend in the past 9 years.
Current Payout to shareholders
What portion of Caltex Australia's earnings are paid to the shareholders as a dividend.
  • Dividends paid are covered by earnings (1.8x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be covered by earnings (1.6x coverage).
X
Income/ dividend checks
We assess Caltex Australia's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 1.6%) - 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 Caltex Australia afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Caltex Australia has a total score of 3/6, see the detailed checks below.


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

Management

 What is the CEO of Caltex Australia'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
Julian Segal
COMPENSATION A$5,213,219
AGE 63
TENURE AS CEO 9.8 years
CEO Bio

Mr. Julian Segal, B.Sc., M.B.A., has been Managing Director and Chief Executive Officer of Caltex Australia Ltd. since July 1, 2009. Mr. Segal served as the Chief Executive Officer and Managing Director of Incitec Ltd. since June 3, 2005. He served as Chief Executive Officer and Managing Director of Incitec Pivot Limited from June 3, 2005 to May 8, 2009. He joined Orica Limited in 1999 as General Manager of Australia/Asia Mining Services and moved to the United States in 2001 to take up the role of Senior Vice President of Marketing for Orica Mining Services globally. He served as Manager of Strategic Market Planning for the Orica Group. He has been a Director of Caltex Australia Ltd. since July 1, 2009. Mr. Segal is a Director of the Australian Institute of Petroleum Limited since 1 July 2009. He served as a Director of Incitec Pivot Limited from June 3, 2005 to May 8, 2009. He is a Chemical Engineer. Mr. Segal holds a Bachelor of Science (Chemical Engineering) from the Israel Institute of Technology and a Master of Business Administration from the Macquarie Graduate School of Management.

CEO Compensation
  • Julian's compensation has been consistent with company performance over the past year.
  • Julian's remuneration is about average for companies of similar size in Australia.
Management Team Tenure

Average tenure of the Caltex Australia management team in years:

1.9
Average Tenure
  • The average tenure for the Caltex Australia management team is less than 2 years, this suggests a new team.
Management Team

Julian Segal

TITLE
MD, CEO & Director
COMPENSATION
A$5M
AGE
63
TENURE
9.8 yrs

Simon Hepworth

TITLE
Executive Officer
COMPENSATION
A$2M

Matthew Halliday

TITLE
Chief Financial Officer

Viv Da Ros

TITLE
Chief Information Officer
COMPENSATION
A$41K
TENURE
2.3 yrs

Dale Koenders

TITLE
Head of Investor Relations

Richard Baker

TITLE
Head of Corporate Communications

Alan Stuart-Grant

TITLE
Executive General Manager of Strategy & Corporate Development
TENURE
1.4 yrs

Lyndall Stoyles

TITLE
Executive General Manager of People
COMPENSATION
A$121K
TENURE
0.2 yrs
Board of Directors Tenure

Average tenure and age of the Caltex Australia board of directors in years:

3.7
Average Tenure
62
Average Age
  • The tenure for the Caltex Australia board of directors is about average.
Board of Directors

Steven Gregg

TITLE
Chairman
COMPENSATION
A$550K
AGE
57
TENURE
1.7 yrs

Julian Segal

TITLE
MD, CEO & Director
COMPENSATION
A$5M
AGE
63
TENURE
9.8 yrs

Bruce William Morgan

TITLE
Independent Non-Executive Director
COMPENSATION
A$257K
TENURE
5.8 yrs

Barbara Ward

TITLE
Independent Non-Executive Director
COMPENSATION
A$256K
AGE
64
TENURE
4 yrs

Trevor Bourne

TITLE
Independent Non-Executive Director
COMPENSATION
A$249K
AGE
72
TENURE
13.1 yrs

Penny Winn

TITLE
Independent Non-Executive Director
COMPENSATION
A$227K
TENURE
3.4 yrs

Melinda Conrad

TITLE
Independent Non-Executive Director
COMPENSATION
A$227K
AGE
49
TENURE
2.1 yrs

Mark Chellew

TITLE
Independent Non-Executive Director
COMPENSATION
A$137K
AGE
61
TENURE
1 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (A$) Value (A$)
26. Mar 19 Sell AustralianSuper Pty Ltd Company 29. Nov 18 20. Mar 19 -48,892 A$29.02 A$-1,419,047
26. Mar 19 Buy AustralianSuper Pty Ltd Company 22. Nov 18 20. Mar 19 2,203,696 A$29.35 A$64,687,652
18. Mar 19 Sell State Street Global Advisors, Inc. Company 12. Mar 19 15. Mar 19 -108,135 A$27.82 A$-2,997,524
18. Mar 19 Buy State Street Global Advisors, Inc. Company 12. Mar 19 15. Mar 19 50,229 A$27.86 A$1,378,246
12. Mar 19 Buy State Street Global Advisors, Inc. Company 12. Nov 18 08. Mar 19 487,800 A$29.20 A$13,719,203
06. Mar 19 Sell AustralianSuper Pty Ltd Company 08. Jan 19 04. Mar 19 -10,402 A$29.02 A$-301,866
06. Mar 19 Buy AustralianSuper Pty Ltd Company 04. Jan 19 04. Mar 19 1,001,937 A$29.35 A$29,406,851
08. Jan 19 Sell AustralianSuper Pty Ltd Company 06. Sep 18 03. Jan 19 -174,441 A$30.35 A$-5,294,284
08. Jan 19 Buy AustralianSuper Pty Ltd Company 04. Sep 18 02. Jan 19 2,665,903 A$30.35 A$80,921,501
21. Nov 18 Buy Trevor Bourne Individual 21. Nov 18 21. Nov 18 1,000 A$26.23 A$26,234
14. Nov 18 Buy Barbara Ward Individual 14. Nov 18 14. Nov 18 1,500 A$26.96 A$40,440
13. Sep 18 Buy Melinda Conrad Individual 10. Sep 18 10. Sep 18 3,000 A$29.15 A$87,452
10. Sep 18 Buy Mark Chellew Individual 07. Sep 18 07. Sep 18 1,400 A$29.71 A$41,597
03. Sep 18 Buy Steven Gregg Individual 31. Aug 18 31. Aug 18 6,000 A$30.22 A$181,311
26. Jun 18 Sell BlackRock, Inc. Company 11. Jun 17 25. Jun 18 -6,108,782 A$36.66 A$-6,992,804
26. Jun 18 Buy BlackRock, Inc. Company 21. Jun 17 21. Jun 18 3,475,624 A$36.57 A$0
22. Jun 18 Sell UBS Asset Management Company 20. Jun 18 20. Jun 18 -19,694 A$31.80 A$-626,186
22. Jun 18 Buy UBS Asset Management Company 20. Jun 18 20. Jun 18 845,791 A$31.80 A$26,611,022
21. Jun 18 Sell UBS Asset Management Company 20. Feb 18 19. Jun 18 -14,460,978 A$31.93 A$-461,638,079
21. Jun 18 Buy UBS Asset Management Company 20. Feb 18 19. Jun 18 426,930 A$31.99 A$13,342,787
X
Management checks
We assess Caltex Australia'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. Caltex Australia 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.

News

Simply Wall St News

What Kind Of Shareholder Owns Most Caltex Australia Limited (ASX:CTX) Stock?

The big shareholder groups in Caltex Australia Limited (ASX:CTX) have power over the company. … Caltex Australia is a pretty big company. … See our latest analysis for Caltex Australia

Simply Wall St -

Is Caltex Australia Limited's (ASX:CTX) 17% ROE Better Than Average?

Over the last twelve months Caltex Australia has recorded a ROE of 17%. … Another way to think of that is that for every A$1 worth of equity in the company, it was able to earn A$0.17. … Return on Equity = Net Profit ÷ Shareholders' Equity

Simply Wall St -

How Many Insiders Bought Caltex Australia Limited (ASX:CTX) Shares?

We've lost count of how many times insiders have accumulated shares in a company that goes on to improve markedly. … So we'll take a look at whether insiders have been buying or selling shares in Caltex Australia Limited (ASX:CTX). … It's not at all bad to see insiders buy shares at or above current prices.

Simply Wall St -

What Should You Know About Caltex Australia Limited's (ASX:CTX) Future?

As Caltex Australia Limited (ASX:CTX) announced its recent earnings release on 31 December 2018, … with profits predicted to drop by -11% next year

Simply Wall St -

Has Caltex Australia Limited (ASX:CTX) Got Enough Cash?

Small-caps and large-caps are wildly popular among investors, however, mid-cap stocks, such as Caltex Australia Limited (ASX:CTX), with a market capitalization of AU$7.2b, rarely draw their attention from the investing community. … Let’s take a look at CTX’s debt concentration and assess their financial liquidity to get an idea of their ability to fund strategic acquisitions and grow through cyclical pressures. … Note that this information is centred entirely on financial health and is a top-level understanding, so I encourage you to look further.

Simply Wall St -

Investors Who Bought Caltex Australia Shares Five Years Ago Are Now Up 35%

To wit, the Caltex Australia share price has climbed 35% in five years, easily topping the market return of 5.8% (ignoring dividends). … One way to examine how market sentiment has changed over time is to look at the interaction between a company's share price and its earnings per share (EPS). … During five years of share price growth, Caltex Australia achieved compound earnings per share (EPS) growth of 1.8% per year.

Simply Wall St -

A Close Look At Caltex Australia Limited’s (ASX:CTX) 24% ROCE

Specifically, we're going to calculate its Return On Capital Employed (ROCE), in the hopes of getting some insight into the business. … Return On Capital Employed (ROCE): What is it? … ROCE measures the amount of pre-tax profits a company can generate from the capital employed in its business.

Simply Wall St -

Do You Like Caltex Australia Limited (ASX:CTX) At This P/E Ratio?

This article is for investors who would like to improve their understanding of price to earnings ratios (P/E ratios). … We'll look at Caltex Australia Limited's (ASX:CTX) P/E ratio and reflect on what it tells us about the company's share price. … Price to Earnings Ratio = Share Price ÷ Earnings per Share (EPS)

Simply Wall St -

How Much is Caltex Australia Limited's (ASX:CTX) CEO Getting Paid?

Julian Segal became the CEO of Caltex Australia Limited (ASX:CTX) in 2009. … First, this article will compare CEO compensation with compensation at similar sized companies. … How Does Julian Segal's Compensation Compare With Similar Sized Companies?

Simply Wall St -

How Many Caltex Australia Limited (ASX:CTX) Shares Do Institutions Own?

The big shareholder groups in Caltex Australia Limited (ASX:CTX) have power over the company. … Insiders often own a large chunk of younger, smaller, companies while huge companies tend to have institutions as shareholders. … We also tend to see lower insider ownership in companies that were previously publicly owned.

Simply Wall St -

Company Info

Description

Caltex Australia Limited engages in purchasing, refining, distributing, selling, and suppling petroleum products in Australia, New Zealand, and Singapore. It operates through Convenience Retail, and Fuels and Infrastructure segments. The Convenience Retail segment sells fuels through a Caltex network of stores. The Fuels and Infrastructure segment wholesales fuels and lubricants; and manufactures fuels, including LPG, petrol, diesel, and jet fuels. This segment distributes its products through pipelines, terminals, depots, and owned and contracted transportation fleet. Caltex Australia Limited was founded in 1900 and is headquartered in Sydney, Australia.

Details
Name: Caltex Australia Limited
CTX
Exchange: ASX
Founded: 1900
A$6,944,350,196
249,706,947
Website: http://www.caltex.com.au
Address: Caltex Australia Limited
2 Market Street,
Level 24,
Sydney,
New South Wales, 2000,
Australia
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
ASX CTX Ordinary Shares Australian Securities Exchange AU AUD 02. Jan 1992
OTCPK CTXA.F Ordinary Shares Pink Sheets LLC US USD 02. Jan 1992
DB CLZ Ordinary Shares Deutsche Boerse AG DE EUR 02. Jan 1992
CHIA CTX Ordinary Shares Chi-X Australia AU AUD 02. Jan 1992
Number of employees
Current staff
Staff numbers
6,600
Caltex Australia employees.
Industry
Oil and Gas Refining and Marketing
Energy
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/04/24 10:32
End of day share price update: 2019/04/24 00:00
Last estimates confirmation: 2019/04/17
Last earnings filing: 2019/02/25
Last earnings reported: 2018/12/31
Last annual earnings reported: 2018/12/31


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.