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CSR

ASX:CSR
Snowflake Description

Flawless balance sheet average dividend payer.

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

CSR Limited manufactures and supplies building products for homes and commercial buildings in Australia and New Zealand. The last earnings update was 72 days ago. More info.


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CSR Share Price and Events
7 Day Returns
-2.4%
ASX:CSR
0.3%
AU Basic Materials
-0.1%
AU Market
1 Year Returns
-6.4%
ASX:CSR
-18.2%
AU Basic Materials
5.2%
AU Market
CSR Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
CSR (CSR) -2.4% 5.4% 17.7% -6.4% 5.6% 10.2%
AU Basic Materials 0.3% 1.3% 3.7% -18.2% -13.7% 17.4%
AU Market -0.1% 2.4% 6.5% 5.2% 19.8% 11.8%
1 Year Return vs Industry and Market
  • CSR outperformed the Basic Materials industry which returned -18.2% over the past year.
  • CSR underperformed the Market in Australia which returned 5.2% over the past year.
Price Volatility
CSR
Industry
5yr Volatility vs Market

CSR Value

 Is CSR 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 CSR 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 CSR.

ASX:CSR Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 10 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 7.9%
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:CSR
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year AU Govt Bond Rate 2.3%
Equity Risk Premium S&P Global 6%
Basic Materials Unlevered Beta Simply Wall St/ S&P Global 0.9
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.9 (1 + (1- 30%) (0%))
0.933
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
0.93
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2.31% + (0.933 * 5.96%)
7.87%

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

The calculations below outline how an intrinsic value for CSR 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:CSR DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (AUD, Millions) Source Present Value
Discounted (@ 7.87%)
2020 225.67 Analyst x3 209.19
2021 108.00 Analyst x3 92.81
2022 138.50 Analyst x2 110.33
2023 142.98 Est @ 3.23% 105.58
2024 147.21 Est @ 2.96% 100.77
2025 151.27 Est @ 2.76% 96.00
2026 155.25 Est @ 2.63% 91.33
2027 159.18 Est @ 2.53% 86.81
2028 163.11 Est @ 2.47% 82.46
2029 167.06 Est @ 2.42% 78.29
Present value of next 10 years cash flows A$1,053.56
ASX:CSR DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2029 × (1 + g) ÷ (Discount Rate – g)
= A$167.06 × (1 + 2.31%) ÷ (7.87% – 2.31%)
A$3,072.85
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= A$3,072.85 ÷ (1 + 7.87%)10
A$1,440.00
ASX:CSR Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= A$1,053.56 + A$1,440.00
A$2,493.56
Equity Value per Share
(AUD)
= Total value / Shares Outstanding
= A$2,493.56 / 497.93
A$5.01
ASX:CSR Discount to Share Price
Calculation Result
Value per share (AUD) From above. A$5.01
Current discount Discount to share price of A$4.12
= -1 x (A$4.12 - A$5.01) / A$5.01
17.7%

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

Current Discount
Amount off the current price CSR is available for.
Intrinsic value
18%
Share price is A$4.12 vs Future cash flow value of A$5.01
Current Discount Checks
For CSR to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • CSR's share price is below the future cash flow value, but not at a moderate discount (< 20%).
  • CSR's share price is below the future cash flow value, but not at a substantial discount (< 40%).
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 CSR's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are CSR's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
ASX:CSR PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-03-31) in AUD A$0.28
ASX:CSR Share Price ** ASX (2019-07-18) in AUD A$4.12
Australia Basic Materials Industry PE Ratio Median Figure of 7 Publicly-Listed Basic Materials Companies 14.71x
Australia Market PE Ratio Median Figure of 546 Publicly-Listed Companies 16.19x

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

** Primary Listing of CSR.

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

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

= 4.12 ÷ 0.28

14.93x

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

  • CSR is overvalued based on earnings compared to the AU Basic Materials industry average.
  • CSR is good value based on earnings compared to the Australia market.
Price based on expected Growth
Does CSR's expected growth come at a high price?
Raw Data
ASX:CSR PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 14.93x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 10 Analysts
0.8%per year
Australia Basic Materials Industry PEG Ratio Median Figure of 6 Publicly-Listed Basic Materials Companies 1.26x
Australia Market PEG Ratio Median Figure of 361 Publicly-Listed Companies 1.34x

*Line of best fit is calculated by linear regression .

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

= PE Ratio ÷ Net Income Annual Growth Rate

= 14.93x ÷ 0.8%

19.7x

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

  • CSR is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on CSR's assets?
Raw Data
ASX:CSR PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-03-31) in AUD A$2.35
ASX:CSR Share Price * ASX (2019-07-18) in AUD A$4.12
Australia Basic Materials Industry PB Ratio Median Figure of 7 Publicly-Listed Basic Materials Companies 1.77x
Australia Market PB Ratio Median Figure of 1,693 Publicly-Listed Companies 1.68x
ASX:CSR PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

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

= 4.12 ÷ 2.35

1.76x

* Primary Listing of CSR.

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

  • CSR is good value based on assets compared to the AU Basic Materials industry average.
X
Value checks
We assess CSR'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 Basic Materials 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 Basic Materials industry average (and greater than 0)? (1 check)
  5. CSR has a total score of 2/6, 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.

CSR Future Performance

 How is CSR expected to perform in the next 1 to 3 years based on estimates from 10 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
0.8%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is CSR expected to grow at an attractive rate?
  • CSR's earnings growth is positive but not above the low risk savings rate of 2.3%.
Growth vs Market Checks
  • CSR's earnings growth is positive but not above the Australia market average.
  • CSR's revenues are expected to decrease over the next 1-3 years, this is below the Australia market average.
Annual Growth Rates Comparison
Raw Data
ASX:CSR Future Growth Rates Data Sources
Data Point Source Value (per year)
ASX:CSR Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 10 Analysts 0.8%
ASX:CSR Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 10 Analysts -0.9%
Australia Basic Materials Industry Earnings Growth Rate Market Cap Weighted Average 5%
Australia Basic Materials Industry Revenue Growth Rate Market Cap Weighted Average 3.4%
Australia Market Earnings Growth Rate Market Cap Weighted Average 7.3%
Australia Market Revenue Growth Rate Market Cap Weighted Average 3.4%

*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:CSR Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 10 Analyst Estimates (S&P Global) See Below
All numbers in AUD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
ASX:CSR Future Estimates Data
Date (Data in AUD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2022-03-31 2,271 197 146 8
2021-03-31 2,187 196 131 10
2020-03-31 2,204 317 135 10
ASX:CSR Past Financials Data
Date (Data in AUD Millions) Revenue Cash Flow Net Income *
2019-03-31 2,323 207 139
2018-09-30 2,681 224 97
2018-06-30 2,644 237 143
2018-03-31 2,238 249 199
2017-12-31 2,581 270 185
2017-09-30 2,556 290 182
2017-06-30 2,512 277 180
2017-03-31 2,468 265 178
2016-12-31 2,429 266 179
2016-09-30 2,390 267 179
2016-06-30 2,345 260 161

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • CSR's earnings are expected to grow by 0.8% yearly, however this is not considered high growth (20% yearly).
  • CSR's revenue is expected to decrease over the next 1-3 years, this is not considered high growth.
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:CSR 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 10 Analyst Estimates (S&P Global) See Below

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

ASX:CSR Future Estimates Data
Date (Data in AUD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2022-03-31 0.29 0.38 0.26 4.00
2021-03-31 0.26 0.30 0.23 5.00
2020-03-31 0.26 0.29 0.20 5.00
ASX:CSR Past Financials Data
Date (Data in AUD Millions) EPS *
2019-03-31 0.28
2018-09-30 0.19
2018-06-30 0.28
2018-03-31 0.40
2017-12-31 0.37
2017-09-30 0.36
2017-06-30 0.36
2017-03-31 0.35
2016-12-31 0.35
2016-09-30 0.36
2016-06-30 0.32

*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.
  • CSR is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess CSR'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.
CSR has a total score of 0/6, 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.

CSR Past Performance

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

ASX:CSR Past Revenue, Cash Flow and Net Income Data
Date (Data in AUD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-03-31 2,322.80 138.90 497.00
2018-09-30 2,681.20 96.90 618.60
2018-06-30 2,643.70 142.85 614.75
2018-03-31 2,237.70 199.00 497.70
2017-12-31 2,581.30 185.45 601.65
2017-09-30 2,556.40 182.10 592.40
2017-06-30 2,512.35 180.00 583.00
2017-03-31 2,468.30 177.90 573.60
2016-12-31 2,429.35 178.55 565.90
2016-09-30 2,390.40 179.20 558.20
2016-06-30 2,344.60 160.75 548.50
2016-03-31 2,298.80 142.30 538.80
2015-12-31 2,230.65 138.50 522.05
2015-09-30 2,162.50 134.70 505.30
2015-06-30 2,092.95 130.10 487.30
2015-03-31 2,023.40 125.50 469.30
2014-12-31 1,949.15 117.95 455.90
2014-09-30 1,874.90 110.40 442.50
2014-06-30 1,810.75 99.25 429.90
2014-03-31 1,746.60 88.10 417.30
2013-12-31 1,723.15 -15.90 410.70
2013-09-30 1,699.70 -119.90 404.10
2013-06-30 1,691.05 -134.95 403.35
2013-03-31 1,682.40 -150.00 402.60
2012-12-31 1,703.55 -46.30 403.95
2012-09-30 1,724.70 57.40 405.30

*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.
  • CSR has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • CSR used its assets more efficiently than the AU Basic Materials industry average last year based on Return on Assets.
  • CSR has improved its use of capital last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess CSR'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 Basic Materials 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.
CSR has a total score of 3/6, 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.

CSR Health

 How is CSR'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 CSR's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • CSR is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • CSR's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of CSR'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.
  • CSR has no debt, it does not need to be covered by short term assets.
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 CSR Company Filings, last reported 3 months ago.

ASX:CSR Past Debt and Equity Data
Date (Data in AUD Millions) Total Equity Total Debt Cash & Short Term Investments
2019-03-31 1,231.10 0.00 50.00
2018-09-30 1,232.50 77.60 9.10
2018-06-30 1,232.50 77.60 9.10
2018-03-31 1,274.10 28.00 13.70
2017-12-31 1,274.10 28.00 13.70
2017-09-30 1,257.00 20.00 20.50
2017-06-30 1,257.00 20.00 20.50
2017-03-31 1,206.50 30.50 19.10
2016-12-31 1,206.50 30.50 19.10
2016-09-30 1,370.00 1.10 78.70
2016-06-30 1,370.00 1.10 78.70
2016-03-31 1,317.20 2.20 73.10
2015-12-31 1,317.20 2.20 73.10
2015-09-30 1,330.90 12.00 33.90
2015-06-30 1,330.90 12.00 33.90
2015-03-31 1,206.00 0.00 68.40
2014-12-31 1,206.00 0.00 68.40
2014-09-30 1,196.40 7.50 13.20
2014-06-30 1,196.40 7.50 13.20
2014-03-31 1,157.20 34.40 5.90
2013-12-31 1,157.20 34.40 5.90
2013-09-30 1,137.40 27.70 9.90
2013-06-30 1,137.40 27.70 9.90
2013-03-31 1,086.60 37.00 11.90
2012-12-31 1,086.60 37.00 11.90
2012-09-30 1,253.50 54.10 8.60
  • CSR has no debt.
  • CSR has no debt compared to 5 years ago when it was 2.9%.
  • CSR has no debt, it does not need to be covered by operating cash flow.
  • CSR has no debt, therefore coverage of interest payments is not a concern.
X
Financial health checks
We assess CSR'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. CSR 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.

CSR Dividends

 What is CSR'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
6.31%
Current annual income from CSR dividends. Estimated to be 5.33% next year.
If you bought A$2,000 of CSR shares you are expected to receive A$126 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?
  • CSR's pays a higher dividend yield than the bottom 25% of dividend payers in Australia (2.51%).
  • CSR's dividend is above the markets top 25% of dividend payers in Australia (5.74%).
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:CSR 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 10 Analyst Estimates (S&P Global) See Below
Australia Basic Materials Industry Average Dividend Yield Market Cap Weighted Average of 6 Stocks 4.3%
Australia Market Average Dividend Yield Market Cap Weighted Average of 415 Stocks 4%
Australia Minimum Threshold Dividend Yield 10th Percentile 1.5%
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:CSR Future Dividends Estimate Data
Date (Data in A$) Dividend per Share (annual) Avg. No. Analysts
2022-03-31 0.21 9.00
2021-03-31 0.22 11.00
2020-03-31 0.23 11.00
ASX:CSR Past Annualized Dividends Data
Date (Data in A$) Dividend per share (annual) Avg. Yield (%)
2019-05-07 0.260 6.688
2018-11-01 0.265 8.477
2018-05-08 0.270 6.302
2017-10-31 0.270 5.464
2017-05-09 0.260 6.061
2016-11-01 0.260 5.958
2016-05-10 0.235 6.469
2015-11-03 0.230 7.775
2015-05-11 0.230 6.833
2014-11-04 0.170 4.448
2014-06-10 0.100 2.856
2014-05-13 0.100 2.952
2013-06-11 0.051 1.946
2013-05-14 0.051 2.484
2012-05-16 0.130 7.699
2011-05-11 0.083 3.769
2010-11-03 0.270 6.743
2010-06-07 0.255 4.847
2010-05-12 0.364 7.239
2010-05-11 0.255 5.060
2009-10-28 0.120 2.287
2009-05-13 0.225 4.236

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

  • Dividends per share have been volatile in the past 10 years (annual drop of over 20%).
  • Dividends per share have increased over the past 10 years.
Current Payout to shareholders
What portion of CSR's earnings are paid to the shareholders as a dividend.
  • Dividends paid are not well covered by earnings (1.1x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be covered by earnings (1.5x coverage).
X
Income/ dividend checks
We assess CSR'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 CSR afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. CSR has a total score of 4/6, see the detailed checks below.


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

CSR Management

 What is the CEO of CSR'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
Rob Sindel
COMPENSATION A$3,084,604
AGE 54
TENURE AS CEO 8.5 years
CEO Bio

Mr. Alan Robert Sindel, also known as Rob, BENG, MBA, GAICD, serves as Independent Non-Executive Director at Orora Ltd since March 26, 2019. He has been the Chief Executive Officer and Managing Director at CSR Limited since January 1, 2011. Mr. Sindel served as Managing Director of Civil & Marine (UK). He has also held positions with Hanson Aggregates (UK) and with Pioneer Australia, where he worked for more than 13 years. He served as an Executive General Manager-Lightweight Systems of CSR Limited and served as its Chief Executive Officer of CSR Building Products since October 2009. He served as an Interim Chief Executive Officer of CSR Building Products at CSR Limited since September 2009. He has been an Executive Director of CSR Limited since December 15, 2010. He has been Director at Green Building Council of Australia since December 2013. Mr. Sindel holds a Bachelor of Engineering and an MBA.

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

Rob Sindel

TITLE
CEO, MD & Executive Director
COMPENSATION
A$3M
AGE
54
TENURE
8.5 yrs

David Fallu

TITLE
Chief Financial Officer
COMPENSATION
A$1M
AGE
42
TENURE
2.4 yrs

Andree Taylor

TITLE
General Manager of Investor Relations & Corporate Communications
AGE
46

Sean Ventris

TITLE
Head of Legal

Luke Murphy

TITLE
Executive General Manager of Human Resources

Debbie Schroeder

TITLE
Head of Risk & Internal Audit and Company Secretary

Marion Johnstone

TITLE
General Manager

Sara Lom

TITLE
Group Financial Controller

Nick Pezet

TITLE
Executive General Manager of PGH Bricks

Tom Burmeister

TITLE
Chief Financial Officer of Rinker Group Limited
COMPENSATION
A$1M
AGE
74
Board of Directors Tenure

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

4.8
Average Tenure
55.5
Average Age
  • The tenure for the CSR board of directors is about average.
Board of Directors

John Gillam

TITLE
Chairman
COMPENSATION
A$361K
AGE
53
TENURE
1.1 yrs

Rob Sindel

TITLE
CEO, MD & Executive Director
COMPENSATION
A$3M
AGE
54
TENURE
8.6 yrs

Mike Ihlein

TITLE
Independent Non-Executive Director
COMPENSATION
A$193K
AGE
63
TENURE
8 yrs

Matthew Quinn

TITLE
Non-Executive Director
COMPENSATION
A$182K
AGE
57
TENURE
5.9 yrs

Penny Winn

TITLE
Non-Executive Director
COMPENSATION
A$182K
TENURE
3.7 yrs

Christine Holman

TITLE
Non-Executive Director
COMPENSATION
A$170K
TENURE
2.8 yrs
Who owns this company?
Recent Insider Trading
  • More shares have been bought than sold by CSR individual insiders in the past 3 months.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (A$) Value (A$)
25. Jun 19 Buy State Street Global Advisors, Inc. Company 20. Mar 19 21. Jun 19 710,608 A$4.06 A$2,862,984
06. Jun 19 Buy Penelope Winn Individual 06. Jun 19 06. Jun 19 7,845 A$3.83 A$30,044
05. Jun 19 Buy Matthew Quinn Individual 30. May 19 30. May 19 523 A$3.97 A$2,076
05. Jun 19 Buy Michael Ihlein Individual 30. May 19 30. May 19 523 A$3.97 A$2,076
30. May 19 Sell Macquarie Investment Management Australia Limited Company 14. May 19 27. May 19 -4,740 A$4.09 A$0
30. May 19 Buy Macquarie Investment Management Australia Limited Company 22. May 19 27. May 19 998,028 A$4.10 A$0
30. May 19 Sell Macquarie Group, Ltd., Banking & Securities Investments Company 15. May 19 27. May 19 -107,311 A$4.14 A$0
30. May 19 Buy Macquarie Group, Ltd., Banking & Securities Investments Company 14. May 19 17. May 19 43,272 A$3.47 A$0
30. May 19 Sell Macquarie Capital Investment Management LLC Company 16. May 19 16. May 19 -4 A$3.37 A$-13
30. May 19 Buy Macquarie Capital Investment Management LLC Company 16. May 19 16. May 19 4 A$3.37 A$13
30. May 19 Sell Macquarie Capital Investment Management LLC Company 15. May 19 27. May 19 -690,839 A$4.14 A$0
30. May 19 Buy Macquarie Capital Investment Management LLC Company 14. May 19 27. May 19 927,911 A$4.14 A$968,347
30. May 19 Sell Macquarie Investment Management Limited Company 24. May 19 27. May 19 -1,653 A$4.14 A$0
30. May 19 Buy Macquarie Investment Management Limited Company 15. May 19 27. May 19 1,330,824 A$4.14 A$0
26. May 19 Sell State Street Global Advisors, Inc. Company 10. May 19 22. May 19 -379,948 A$3.80 A$-1,442,330
26. May 19 Buy State Street Global Advisors, Inc. Company 10. May 19 10. May 19 250,596 A$3.33 A$834,485
16. May 19 Buy Orbis Investment Management Limited Company 14. Feb 19 14. May 19 8,332,872 A$3.33 A$27,619,125
16. May 19 Sell Macquarie Investment Management Australia Limited Company 30. Jan 19 08. May 19 -133,212 A$3.59 A$0
16. May 19 Buy Macquarie Investment Management Australia Limited Company 14. Jan 19 24. Apr 19 567,079 A$3.59 A$0
16. May 19 Sell Macquarie Group, Ltd., Banking & Securities Investments Company 14. Jan 19 13. May 19 -232,530 A$3.61 A$0
16. May 19 Buy Macquarie Group, Ltd., Banking & Securities Investments Company 15. Jan 19 13. May 19 215,983 A$3.57 A$0
16. May 19 Sell Macquarie Capital Investment Management LLC Company 23. Jan 19 10. May 19 -67,705 A$3.61 A$0
16. May 19 Buy Macquarie Capital Investment Management LLC Company 23. Jan 19 10. May 19 67,705 A$3.61 A$0
16. May 19 Sell Macquarie Capital Investment Management LLC Company 14. Jan 19 09. May 19 -2,338,371 A$3.61 A$-45,420
16. May 19 Buy Macquarie Capital Investment Management LLC Company 15. Jan 19 13. May 19 2,324,290 A$3.67 A$282,574
16. May 19 Sell Macquarie Investment Management Limited Company 25. Feb 19 29. Apr 19 -17,770 A$3.58 A$0
16. May 19 Buy Macquarie Investment Management Limited Company 16. Jan 19 10. May 19 34,770 A$3.39 A$0
16. May 19 Buy Christine Holman Individual 16. May 19 16. May 19 10,000 A$3.38 A$33,800
16. May 19 Buy Matthew Quinn Individual 16. May 19 16. May 19 7,000 A$3.40 A$23,792
18. Mar 19 Sell BlackRock, Inc. Company 27. Dec 18 15. Mar 19 -2,180,188 A$3.46 A$0
18. Mar 19 Buy BlackRock, Inc. Company 27. Dec 18 15. Mar 19 18,483,793 A$3.47 A$14,825,412
18. Mar 19 Sell State Street Global Advisors, Inc. Company 12. Mar 19 15. Mar 19 -260,218 A$3.35 A$-859,707
12. Mar 19 Buy State Street Global Advisors, Inc. Company 28. Feb 19 08. Mar 19 218,503 A$3.45 A$751,583
03. Mar 19 Sell FIL Limited Company 08. Jan 19 18. Feb 19 -52,277 A$3.27 A$-171,132
03. Mar 19 Buy FIL Limited Company 21. Dec 18 27. Feb 19 5,376,770 A$3.36 A$18,081,005
25. Feb 19 Sell State Street Global Advisors, Inc. Company 20. Feb 19 22. Feb 19 -262,343 A$3.32 A$-863,303
25. Feb 19 Buy State Street Global Advisors, Inc. Company 20. Feb 19 20. Feb 19 51,713 A$3.29 A$170,136
13. Feb 19 Buy State Street Global Advisors, Inc. Company 12. Feb 19 12. Feb 19 142,939 A$3.09 A$440,962
11. Feb 19 Sell State Street Global Advisors, Inc. Company 02. Nov 18 23. Jan 19 -4,694,890 A$3.32 A$-380,494
11. Feb 19 Buy State Street Global Advisors, Inc. Company 22. Nov 18 17. Jan 19 276,727 A$2.88 A$0
26. Dec 18 Sell BlackRock, Inc. Company 01. Nov 18 18. Dec 18 -351,731 A$3.54 A$-40,410
26. Dec 18 Buy BlackRock, Inc. Company 01. Nov 18 21. Dec 18 5,538,909 A$3.59 A$34,372
23. Dec 18 Sell FIL Limited Company 12. Jun 18 03. Dec 18 -496,002 A$4.93 A$-2,444,031
23. Dec 18 Buy FIL Limited Company 26. Jun 18 19. Dec 18 5,137,921 A$4.65 A$23,889,279
21. Dec 18 Buy Matthew Quinn Individual 18. Dec 18 18. Dec 18 154 A$2.70 A$416
21. Dec 18 Buy Michael Ihlein Individual 18. Dec 18 18. Dec 18 154 A$2.70 A$416
17. Dec 18 Buy Christine Holman Individual 17. Dec 18 17. Dec 18 10,000 A$2.64 A$26,400
17. Dec 18 Buy Christine Holman Individual 14. Dec 18 14. Dec 18 10,000 A$2.71 A$27,100
17. Dec 18 Buy John Gillam Individual 14. Dec 18 14. Dec 18 184,000 A$2.71 A$498,364
17. Dec 18 Buy Matthew Quinn Individual 14. Dec 18 14. Dec 18 13,000 A$2.70 A$35,134
13. Dec 18 Buy UBS Asset Management Company 11. Dec 18 11. Dec 18 1,142,429 A$2.79 A$3,184,609
10. Dec 18 Sell UBS Asset Management Company 08. Nov 18 06. Dec 18 -24,562,801 A$3.03 A$-74,419,290
10. Dec 18 Buy UBS Asset Management Company 08. Nov 18 06. Dec 18 26,748,409 A$3.02 A$80,724,092
12. Dec 18 Sell UBS Asset Management Company 07. Dec 18 10. Dec 18 -2,365,798 A$2.86 A$-6,774,906
12. Dec 18 Buy UBS Asset Management Company 07. Dec 18 10. Dec 18 2,284,414 A$2.86 A$6,533,922
04. Dec 18 Buy Matthew Quinn Individual 29. Nov 18 29. Nov 18 548 A$3.03 A$1,660
04. Dec 18 Buy Michael Ihlein Individual 29. Nov 18 29. Nov 18 548 A$3.03 A$1,660
06. Nov 18 Buy UBS Asset Management Company 11. Jul 18 02. Nov 18 58,749,553 A$3.92 A$230,158,023
06. Nov 18 Sell UBS Asset Management Company 11. Jul 18 02. Nov 18 -60,253,192 A$3.92 A$-236,389,650
09. Nov 18 Sell UBS Asset Management Company 05. Nov 18 07. Nov 18 -4,429,050 A$3.27 A$-14,493,814
09. Nov 18 Buy UBS Asset Management Company 05. Nov 18 07. Nov 18 3,036,451 A$3.28 A$9,965,306
06. Nov 18 Buy State Street Global Advisors, Inc. Company 18. Sep 18 01. Nov 18 192,319 A$3.91 A$701,189
01. Nov 18 Buy BlackRock, Inc. Company 03. Jul 18 31. Oct 18 5,761,896 A$4.61 A$25,848,089
19. Sep 18 Sell State Street Global Advisors, Inc. Company 24. Oct 17 14. Sep 18 -4,033,896 A$5.64 A$0
19. Sep 18 Buy State Street Global Advisors, Inc. Company 25. Oct 17 10. Sep 18 2,605,063 A$5.78 A$0
25. Jul 18 Buy Matthew Quinn Individual 20. Jul 18 20. Jul 18 102 A$4.05 A$413
25. Jul 18 Buy Michael Ihlein Individual 20. Jul 18 20. Jul 18 102 A$4.05 A$413
X
Management checks
We assess CSR'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. CSR 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.

CSR News

Simply Wall St News

Here's What CSR Limited's (ASX:CSR) P/E Is Telling Us

The formula for P/E is: Price to Earnings Ratio = Price per Share ÷ Earnings per Share (EPS) Or for CSR: P/E of 15.43 = A$4.26 ÷ A$0.28 (Based on the trailing twelve months to March 2019.) Is A High Price-to-Earnings Ratio Good? … A higher P/E ratio means that buyers have to pay a higher price for each A$1 the company has earned over the last year. … Then, a higher P/E might scare off shareholders, pushing the share price down.

Simply Wall St -

CSR Limited (ASX:CSR): Commentary On Fundamentals

CSR is a highly-regarded dividend payer that has been able to sustain great financial health over the past. … Flawless balance sheet average dividend payer CSR's strong financial health means that all of its upcoming liability payments are able to be met by its current cash and short-term investment holdings. … ASX:CSR Historical Debt, June 28th 2019 Income investors would also be happy to know that CSR is one of the highest dividend payers in the market, with current dividend yield standing at 6.6%.

Simply Wall St -

Read This Before Buying CSR Limited (ASX:CSR) For Its Dividend

Cash is slightly more important than profit from a dividend perspective, but given CSR's payouts were not well covered by either earnings or cash flow, we would definitely be concerned about the sustainability of this dividend. … Dividend Growth Potential With a relatively unstable dividend, it's even more important to evaluate if earnings per share (EPS) are growing - it's not worth taking the risk on a dividend getting cut, unless you might be rewarded with larger dividends in future. … Earnings growth generally bodes well for the future value of company dividend payments.

Simply Wall St -

Is CSR Limited (ASX:CSR) Excessively Paying Its CEO?

CSR Limited has reduced its earnings per share by an average of 6.1% a year, over the last three years (measured with a line of best fit). … Few shareholders would be pleased to read that earnings per share are lower over three years. … We're not seeing great strides in earnings per share, and total returns were decent but not amazing in the last three years.

Simply Wall St -

Imagine Owning CSR (ASX:CSR) And Wondering If The 23% Share Price Slide Is Justified

But that is minimal compensation for the share price under-performance over the last year. … There will continue to be wide discrepancies between price and value in the marketplace...' 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). … As it happens, CSR's TSR for the last year was -17%, which exceeds the share price return mentioned earlier.

Simply Wall St -

CSR Limited (ASX:CSR): What Does The Future Look Like?

After CSR Limited's (ASX:CSR) earnings announcement on 31 March 2019, analyst consensus outlook appear bearish, with earnings expected to decline by 1.5% in the upcoming year relative to the past 5-year average growth rate of 8.5%. … With trailing-twelve-month net income at current levels of AU$139m, the consensus growth rate suggests that earnings will decline to AU$137m by 2020. … To get an idea of the overall earnings growth trend for CSR, I’ve plotted out each year’s earnings expectations and inserted a line of best fit to determine an annual rate of growth from the slope of this line.

Simply Wall St -

What CSR Limited's (ASX:CSR) ROE Can Tell Us

The formula for ROE is: Return on Equity = Net Profit ÷ Shareholders' Equity Or for CSR: 12% = AU$139m ÷ AU$1.2b (Based on the trailing twelve months to March 2019.) It's easy to understand the 'net profit' part of that equation, but 'shareholders' equity' requires further explanation. … The Importance Of Debt To Return On Equity Companies usually need to invest money to grow their profits. … Combining CSR's Debt And Its 12% Return On Equity CSR is free of net debt, which is a positive for shareholders.

Simply Wall St -

What Kind Of Shareholders Own CSR Limited (ASX:CSR)?

Companies that used to be publicly owned tend to have lower insider ownership. … institutional investors have bought into the company. … We can zoom in on the different ownership groups, to learn more about CSR

Simply Wall St -

How Much Are CSR Limited (ASX:CSR) Insiders Taking Off The Table?

We've lost count of how many times insiders have accumulated shares in a company that goes on to improve markedly. … Over the last year, we can see that the biggest insider sale was by CEO, MD & Executive Director Alan Sindel for AU$1.3m worth of shares, at about AU$5.24 per share. … Over the last year, we can see that insiders have bought 267.74k shares worth AU$848k

Simply Wall St -

Despite Its High P/E Ratio, Is CSR Limited (ASX:CSR) Still Undervalued?

This article is written for those who want to get better at using price to earnings ratios (P/E ratios). … We'll look at CSR Limited's (ASX:CSR) P/E ratio and reflect on what it tells us about the company's share price. … Price to Earnings Ratio = Price per Share ÷ Earnings per Share (EPS)

Simply Wall St -

CSR Company Info

Description

CSR Limited manufactures and supplies building products for homes and commercial buildings in Australia and New Zealand. It operates through Building Products, Property, and Aluminium segments. The Building Products segment offers lightweight systems, including gyprock plasterboards, Hebel autoclaved aerated concrete products, Cemintel fiber cement, Himmel interior systems, and Rondo rolled formed steel products; and insulations, such as Bradford and martini insulations, Bradford energy solutions, and Edmonds ventilation systems. It also provides AFS walling systems, façades, bricks, and roofing products. The Property segment sells former operating sites by advancing the sites through various stages of the development cycle. This segment is also involved in the large-scale developments in New South Wales, Queensland, and Victoria. The Aluminium segment offers aluminium ingots, billets, and slabs. The company was founded in 1855 and is headquartered in North Ryde, Australia.

Details
Name: CSR Limited
CSR
Exchange: ASX
Founded: 1855
A$2,071,391,508
497,930,651
Website: http://www.csr.com.au
Address: CSR Limited
Triniti 3,
Level 5,
North Ryde,
New South Wales, 2113,
Australia
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
ASX CSR Ordinary Shares Australian Securities Exchange AU AUD 23. May 1983
OTCPK CSRL.F Ordinary Shares Pink Sheets LLC US USD 23. May 1983
DB CSR Ordinary Shares Deutsche Boerse AG DE EUR 23. May 1983
CHIA CSR Ordinary Shares Chi-X Australia AU AUD 23. May 1983
Number of employees
Current staff
Staff numbers
0
CSR employees.
Industry
Construction Materials
Materials
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/07/18 10:35
End of day share price update: 2019/07/18 00:00
Last estimates confirmation: 2019/07/15
Last earnings filing: 2019/05/07
Last earnings reported: 2019/03/31
Last annual earnings reported: 2019/03/31


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.