ASX:CSR

Stock Analysis Report

Executive Summary

CSR Limited manufactures and supplies building products for homes and commercial buildings in Australia and New Zealand.

Snowflake

Fundamentals

Flawless balance sheet and fair value.


Similar Companies

Share Price & News

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


Latest Share Price and Events

Stable Share Price: CSR has not had significant price volatility in the past 3 months.


Market Performance


7 Day Return

-1.5%

CSR

7.5%

AU Basic Materials

0.4%

AU Market


1 Year Return

51.3%

CSR

20.1%

AU Basic Materials

14.8%

AU Market

Return vs Industry: CSR exceeded the Australian Basic Materials industry which returned 20.1% over the past year.

Return vs Market: CSR exceeded the Australian Market which returned 14.8% over the past year.


Shareholder returns

CSRIndustryMarket
7 Day-1.5%7.5%0.4%
30 Day17.7%11.7%0.4%
90 Day18.6%15.9%4.6%
1 Year61.1%51.3%25.1%20.1%21.4%14.8%
3 Year42.4%17.7%23.7%9.9%40.2%21.4%
5 Year87.1%35.5%80.3%47.5%54.5%19.5%

Price Volatility Vs. Market

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


Simply Wall St News

Valuation

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

>50%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: CSR (A$4.66) is trading below our estimate of fair value (A$10.11)

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


Price To Earnings Ratio

PE vs Industry: CSR is good value based on its PE Ratio (18.9x) compared to the Basic Materials industry average (25.1x).

PE vs Market: CSR is poor value based on its PE Ratio (18.9x) compared to the Australian market (18.6x).


Price to Earnings Growth Ratio

PEG Ratio: CSR is poor value based on its PEG Ratio (4.5x)


Price to Book Ratio

PB vs Industry: CSR is overvalued based on its PB Ratio (2.1x) compared to the AU Basic Materials industry average (1.9x).


Next Steps

Future Growth

How is CSR forecast to perform in the next 1 to 3 years based on estimates from 9 analysts?

4.2%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: CSR's forecast earnings growth (4.2% per year) is above the savings rate (2.3%).

Earnings vs Market: CSR's earnings (4.2% per year) are forecast to grow slower than the Australian market (9.8% per year).

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

Revenue vs Market: CSR's revenue (0.9% per year) is forecast to grow slower than the Australian market (3.6% per year).

High Growth Revenue: CSR's revenue (0.9% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: CSR's Return on Equity is forecast to be low in 3 years time (12.1%).


Next Steps

Past Performance

How has CSR performed over the past 5 years?

4.4%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: CSR has high quality earnings.

Growing Profit Margin: CSR's current net profit margins (5.4%) are lower than last year (7.8%).


Past Earnings Growth Analysis

Earnings Trend: CSR's earnings have grown by 4.4% per year over the past 5 years.

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

Earnings vs Industry: CSR had negative earnings growth (-25.5%) over the past year, making it difficult to compare to the Basic Materials industry average (-37%).


Return on Equity

High ROE: CSR's Return on Equity (11.3%) is considered low.


Return on Assets


Return on Capital Employed


Next Steps

Financial Health

How is CSR's financial position?


Financial Position Analysis

Short Term Liabilities: CSR's short term assets (A$868.5M) exceeds its short term liabilities (A$476.6M)

Long Term Liabilities: CSR's short term assets (868.5M) exceeds its long term liabilities (488.2M)


Debt to Equity History and Analysis

Debt Level: CSR is debt free.

Reducing Debt: CSR has no debt compared to 5 years ago when its debt to equity ratio was 0.6%.

Debt Coverage: CSR has no debt, therefore it does not need to be covered by operating cash flow.

Interest Coverage: CSR has no debt, therefore coverage of interest payments is not a concern.


Balance Sheet

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

Debt Coverage by Assets: Insufficient data to determine if CSR's debt is covered by short term assets.


Next Steps

Dividend

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

4.29%

Current Dividend Yield


Dividend Yield vs Market

company4.3%marketbottom25%2.4%markettop25%5.6%industryaverage3.5%forecastin3Years4.6%

Current dividend yield vs market & industry

Notable Dividend: CSR's dividend (4.29%) is higher than the bottom 25% of dividend payers in the Australian market (2.35%).

High Dividend: CSR's dividend (4.29%) is low compared to the top 25% of dividend payers in the Australian market (5.62%).


Stability and Growth of Payments

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

Growing Dividend: CSR's dividend payments have fallen over the past 10 years.


Current Payout to Shareholders

Dividend Coverage: With its high payout ratio (93.5%), CSR's dividend payments are not well covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: CSR's dividends in 3 years are forecast to be covered by earnings (75.4% payout ratio).


Next Steps

Management

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

3.5yrs

Average board tenure


CEO

Julie Coates (56yo)

0.2yrs

Tenure

0

Ms. Julie Ann Coates, BA DipEd (Melb) has been the Chief Executive Officer, Managing Director and Director of CSR Limited since September 2, 2019. Ms. Coates has been Managing Director at Goodman Fielder N ...


Board Age and Tenure

3.5yrs

Average Tenure

56.5yo

Average Age

Experienced Board: CSR's board of directors are considered experienced (3.5 years average tenure).


Insider Trading

Insider Buying: CSR insiders have bought more shares than they have sold in the past 3 months.


Recent Insider Transactions

BuyAU$1,24513 Nov 19
Matthew Quinn
EntityIndividual
Role
Member of the Board of Directors
Non-Executive Director
Shares266
Max PriceAU$4.68
BuyAU$1,24513 Nov 19
Michael Ihlein
EntityIndividual
Role
Member of the Board of Directors
Non-Executive Director
Shares266
Max PriceAU$4.68
SellAU$39,735,77211 Nov 19
FIL Limited
EntityCompany
Shares8,445,974
Max PriceAU$4.70
BuyAU$15,007,99111 Nov 19
FIL Limited
EntityCompany
Shares3,154,191
Max PriceAU$4.76
BuyAU$16,392,23031 Oct 19
UBS Asset Management
EntityCompany
Shares3,951,858
Max PriceAU$4.15
SellAU$15,429,29131 Oct 19
UBS Asset Management
EntityCompany
Shares3,716,098
Max PriceAU$4.15
SellAU$4,650,06623 Oct 19
UBS Asset Management
EntityCompany
Shares1,119,604
Max PriceAU$4.15
BuyAU$5,301,86023 Oct 19
UBS Asset Management
EntityCompany
Shares1,281,895
Max PriceAU$4.14
BuyAU$35,237,27520 Oct 19
UBS Asset Management
EntityCompany
Shares8,933,756
Max PriceAU$3.94
SellAU$21,672,37020 Oct 19
UBS Asset Management
EntityCompany
Shares5,344,743
Max PriceAU$4.05
SellAU$1,158,56601 Oct 19
UBS Asset Management
EntityCompany
Shares270,401
Max PriceAU$4.28
BuyAU$1,154,20801 Oct 19
UBS Asset Management
EntityCompany
Shares269,295
Max PriceAU$4.29
SellAU$020 Sep 19
Macquarie Group, Ltd., Banking & Securities Investments
EntityCompany
Shares255,207
Max PriceAU$4.21
BuyAU$020 Sep 19
Macquarie Capital Investment Management LLC
EntityCompany
Shares116,002
Max PriceAU$4.24
SellAU$020 Sep 19
Macquarie Investment Management Limited
EntityCompany
Shares1,017,127
Max PriceAU$4.22
BuyAU$020 Sep 19
Macquarie Group, Ltd., Banking & Securities Investments
EntityCompany
Shares216,916
Max PriceAU$4.23
SellAU$020 Sep 19
Macquarie Capital Investment Management LLC
EntityCompany
Shares328,646
Max PriceAU$4.25
SellAU$020 Sep 19
Macquarie Capital Investment Management LLC
EntityCompany
Shares111,730
Max PriceAU$3.98
BuyAU$21,426,06806 Sep 19
Orbis Investment Management Limited
EntityCompany
Shares5,690,436
Max PriceAU$4.07
SellAU$1,022,84006 Sep 19
Orbis Investment Management Limited
EntityCompany
Shares249,691
Max PriceAU$4.10
SellAU$2,940,19727 Aug 19
Macquarie Capital Investment Management LLC
EntityCompany
Shares680,161
Max PriceAU$4.37
SellAU$4,898,98427 Aug 19
Macquarie Investment Management Limited
EntityCompany
Shares1,141,775
Max PriceAU$4.31
BuyAU$6,999,23527 Aug 19
Macquarie Capital Investment Management LLC
EntityCompany
Shares1,602,189
Max PriceAU$4.37
BuyAU$959,88827 Aug 19
Macquarie Investment Management Limited
EntityCompany
Shares220,199
Max PriceAU$4.36
BuyAU$7,435,70027 Aug 19
UBS Asset Management
EntityCompany
Shares1,855,164
Max PriceAU$4.01
SellAU$5,285,63827 Aug 19
UBS Asset Management
EntityCompany
Shares1,317,180
Max PriceAU$4.01
BuyAU$44,90221 Aug 19
BlackRock, Inc.
EntityCompany
Shares2,500,828
Max PriceAU$4.37
SellAU$021 Aug 19
BlackRock, Inc.
EntityCompany
Shares9,189,685
Max PriceAU$4.37
BuyAU$104,76111 Aug 19
State Street Global Advisors, Inc.
EntityCompany
Shares26,150
Max PriceAU$4.35
SellAU$332,68406 Aug 19
State Street Global Advisors, Inc.
EntityCompany
Shares80,945
Max PriceAU$4.11
BuyAU$430,91006 Aug 19
State Street Global Advisors, Inc.
EntityCompany
Shares109,264
Max PriceAU$4.04
BuyAU$41730 Jul 19
Michael Ihlein
EntityIndividual
Role
Member of the Board of Directors
Non-Executive Director
Shares96
Max PriceAU$4.34
BuyAU$41730 Jul 19
Matthew Quinn
EntityIndividual
Role
Member of the Board of Directors
Non-Executive Director
Shares96
Max PriceAU$4.34
BuyAU$41624 Jul 19
Michael Ihlein
EntityIndividual
Role
Member of the Board of Directors
Non-Executive Director
Shares96
Max PriceAU$4.33
BuyAU$41624 Jul 19
Matthew Quinn
EntityIndividual
Role
Member of the Board of Directors
Non-Executive Director
Shares96
Max PriceAU$4.33
BuyAU$2,862,98425 Jun 19
State Street Global Advisors, Inc.
EntityCompany
Shares710,608
Max PriceAU$4.06
BuyAU$30,04406 Jun 19
Penelope Winn
EntityIndividual
Role
Member of the Board of Directors
Non-Executive Director
Shares7,845
Max PriceAU$3.83
BuyAU$2,07605 Jun 19
Matthew Quinn
EntityIndividual
Role
Member of the Board of Directors
Non-Executive Director
Shares523
Max PriceAU$3.97
BuyAU$2,07605 Jun 19
Michael Ihlein
EntityIndividual
Role
Member of the Board of Directors
Non-Executive Director
Shares523
Max PriceAU$3.97
BuyAU$030 May 19
Macquarie Investment Management Limited
EntityCompany
Shares2,328,852
Max PriceAU$4.14
BuyAU$1330 May 19
Macquarie Capital Investment Management LLC
EntityCompany
Shares4
Max PriceAU$3.37
SellAU$1330 May 19
Macquarie Capital Investment Management LLC
EntityCompany
Shares4
Max PriceAU$3.37
BuyAU$030 May 19
Macquarie Group, Ltd., Banking & Securities Investments
EntityCompany
Shares43,272
Max PriceAU$3.47
SellAU$030 May 19
Macquarie Group, Ltd., Banking & Securities Investments
EntityCompany
Shares107,311
Max PriceAU$4.14
SellAU$030 May 19
Macquarie Capital Investment Management LLC
EntityCompany
Shares690,839
Max PriceAU$4.14
BuyAU$968,34730 May 19
Macquarie Capital Investment Management LLC
EntityCompany
Shares927,911
Max PriceAU$4.14
SellAU$030 May 19
Macquarie Investment Management Limited
EntityCompany
Shares6,393
Max PriceAU$4.14
SellAU$1,442,33026 May 19
State Street Global Advisors, Inc.
EntityCompany
Shares379,948
Max PriceAU$3.80
BuyAU$834,48526 May 19
State Street Global Advisors, Inc.
EntityCompany
Shares250,596
Max PriceAU$3.33
BuyAU$23,79216 May 19
Matthew Quinn
EntityIndividual
Role
Member of the Board of Directors
Non-Executive Director
Shares7,000
Max PriceAU$3.40
BuyAU$33,80016 May 19
Christine Holman
EntityIndividual
Role
Member of the Board of Directors
Non-Executive Director
Shares10,000
Max PriceAU$3.38
BuyAU$27,619,12516 May 19
Orbis Investment Management Limited
EntityCompany
Shares8,332,872
Max PriceAU$3.33
BuyAU$282,57416 May 19
Macquarie Capital Investment Management LLC
EntityCompany
Shares2,324,290
Max PriceAU$3.67
SellAU$016 May 19
Macquarie Capital Investment Management LLC
EntityCompany
Shares67,705
Max PriceAU$3.61
BuyAU$016 May 19
Macquarie Capital Investment Management LLC
EntityCompany
Shares67,705
Max PriceAU$3.61
BuyAU$016 May 19
Macquarie Investment Management Limited
EntityCompany
Shares601,849
Max PriceAU$3.60
SellAU$016 May 19
Macquarie Group, Ltd., Banking & Securities Investments
EntityCompany
Shares232,530
Max PriceAU$3.61
SellAU$45,42016 May 19
Macquarie Capital Investment Management LLC
EntityCompany
Shares2,338,371
Max PriceAU$3.61
SellAU$016 May 19
Macquarie Investment Management Limited
EntityCompany
Shares150,982
Max PriceAU$3.61
BuyAU$016 May 19
Macquarie Group, Ltd., Banking & Securities Investments
EntityCompany
Shares215,983
Max PriceAU$3.57
SellAU$859,70718 Mar 19
State Street Global Advisors, Inc.
EntityCompany
Shares260,218
Max PriceAU$3.35
SellAU$018 Mar 19
BlackRock, Inc.
EntityCompany
Shares2,180,188
Max PriceAU$3.46
BuyAU$14,825,41218 Mar 19
BlackRock, Inc.
EntityCompany
Shares18,483,793
Max PriceAU$3.47
BuyAU$751,58312 Mar 19
State Street Global Advisors, Inc.
EntityCompany
Shares218,503
Max PriceAU$3.45
BuyAU$18,081,00503 Mar 19
FIL Limited
EntityCompany
Shares5,376,770
Max PriceAU$3.36
SellAU$171,13203 Mar 19
FIL Limited
EntityCompany
Shares52,277
Max PriceAU$3.27
BuyAU$170,13625 Feb 19
State Street Global Advisors, Inc.
EntityCompany
Shares51,713
Max PriceAU$3.29
SellAU$863,30325 Feb 19
State Street Global Advisors, Inc.
EntityCompany
Shares262,343
Max PriceAU$3.32
BuyAU$440,96213 Feb 19
State Street Global Advisors, Inc.
EntityCompany
Shares142,939
Max PriceAU$3.09
BuyAU$011 Feb 19
State Street Global Advisors, Inc.
EntityCompany
Shares276,727
Max PriceAU$2.88
SellAU$380,49411 Feb 19
State Street Global Advisors, Inc.
EntityCompany
Shares4,694,890
Max PriceAU$3.32
BuyAU$34,37226 Dec 18
BlackRock, Inc.
EntityCompany
Shares5,538,909
Max PriceAU$3.59
SellAU$40,41026 Dec 18
BlackRock, Inc.
EntityCompany
Shares351,731
Max PriceAU$3.54
SellAU$2,444,03123 Dec 18
FIL Limited
EntityCompany
Shares496,002
Max PriceAU$4.93
BuyAU$23,889,27923 Dec 18
FIL Limited
EntityCompany
Shares5,137,921
Max PriceAU$4.65
BuyAU$41621 Dec 18
Michael Ihlein
EntityIndividual
Role
Member of the Board of Directors
Non-Executive Director
Shares154
Max PriceAU$2.70
BuyAU$41621 Dec 18
Matthew Quinn
EntityIndividual
Role
Member of the Board of Directors
Non-Executive Director
Shares154
Max PriceAU$2.70
BuyAU$26,40017 Dec 18
Christine Holman
EntityIndividual
Role
Member of the Board of Directors
Non-Executive Director
Shares10,000
Max PriceAU$2.64
BuyAU$498,36417 Dec 18
John Gillam
EntityIndividual
Role
Chairman of the Board
Chairman
Shares184,000
Max PriceAU$2.71
BuyAU$35,13417 Dec 18
Matthew Quinn
EntityIndividual
Role
Member of the Board of Directors
Non-Executive Director
Shares13,000
Max PriceAU$2.70
BuyAU$27,10017 Dec 18
Christine Holman
EntityIndividual
Role
Member of the Board of Directors
Non-Executive Director
Shares10,000
Max PriceAU$2.71
BuyAU$3,184,60913 Dec 18
UBS Asset Management
EntityCompany
Shares1,142,429
Max PriceAU$2.79
SellAU$6,774,90612 Dec 18
UBS Asset Management
EntityCompany
Shares2,365,798
Max PriceAU$2.86
BuyAU$6,533,92212 Dec 18
UBS Asset Management
EntityCompany
Shares2,284,414
Max PriceAU$2.86
SellAU$74,419,29010 Dec 18
UBS Asset Management
EntityCompany
Shares24,562,801
Max PriceAU$3.03
BuyAU$80,724,09210 Dec 18
UBS Asset Management
EntityCompany
Shares26,748,409
Max PriceAU$3.02
BuyAU$1,66004 Dec 18
Matthew Quinn
EntityIndividual
Role
Member of the Board of Directors
Non-Executive Director
Shares548
Max PriceAU$3.03
BuyAU$1,66004 Dec 18
Michael Ihlein
EntityIndividual
Role
Member of the Board of Directors
Non-Executive Director
Shares548
Max PriceAU$3.03

Ownership Breakdown

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


Management Team

  • Tom Burmeister (74yo)

    Chief Financial Officer of Rinker Group Limited

    • Tenure: 0yrs
    • Compensation: AU$1.38m
  • Julie Coates (56yo)

    CEO MD & Director

    • Tenure: 0.2yrs
  • Andree Taylor (46yo)

    General Manager of Investor Relations & Corporate Communications

    • Tenure: 0yrs
  • David Fallu (42yo)

    Chief Financial Officer

    • Tenure: 2.8yrs
    • Compensation: AU$1.15m
  • Debbie Schroeder

    Head of Risk & Internal Audit and Company Secretary

    • Tenure: 0yrs
  • Marion Johnstone

    General Manager

    • Tenure: 0yrs
  • Sean Ventris

    Head of Legal

    • Tenure: 0yrs
  • Nick Pezet

    Executive General Manager of PGH Bricks

    • Tenure: 0yrs
  • Luke Murphy

    Executive General Manager of Human Resources

    • Tenure: 0yrs
  • Sara Lom

    Group Financial Controller

    • Tenure: 0yrs

Board Members

  • Mike Ihlein (63yo)

    Non-Executive Director

    • Tenure: 8.3yrs
    • Compensation: AU$193.40k
  • Matthew Quinn (57yo)

    Non-Executive Director

    • Tenure: 6.3yrs
    • Compensation: AU$181.63k
  • Julie Coates (56yo)

    CEO MD & Director

    • Tenure: 0.2yrs
  • John Gillam (53yo)

    Chairman

    • Tenure: 1.4yrs
    • Compensation: AU$360.83k
  • Penny Winn

    Non-Executive Director

    • Tenure: 4yrs
    • Compensation: AU$181.63k
  • Christine Holman

    Non-Executive Director

    • Tenure: 3.1yrs
    • Compensation: AU$169.87k

Company Information

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


Key Information

  • Name: CSR Limited
  • Ticker: CSR
  • Exchange: ASX
  • Founded: 1855
  • Industry: Construction Materials
  • Sector: Materials
  • Market Cap: AU$2.290b
  • Shares outstanding: 491.45m
  • Website: https://www.csr.com.au

Number of Employees


Location

  • CSR Limited
  • Triniti 3
  • Level 5
  • North Ryde
  • New South Wales
  • 2113
  • Australia

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
CSRL.FOTCPK (Pink Sheets LLC)YesOrdinary SharesUSUSDMay 1983
CSRDB (Deutsche Boerse AG)YesOrdinary SharesDEEURMay 1983
CSRASX (Australian Securities Exchange)YesOrdinary SharesAUAUDMay 1983
CSRCHIA (Chi-X Australia)YesOrdinary SharesAUAUDMay 1983

Biography

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 Buildin ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2019/11/14 10:33
End of Day Share Price2019/11/14 00:00
Earnings2019/09/30
Annual Earnings2019/03/31


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.