Calix Management
Management criteria checks 4/4
Calix's CEO is Phil Hodgson, appointed in Jan 2013, has a tenure of 13.42 years. total yearly compensation is A$572.69K, comprised of 80.9% salary and 19.1% bonuses, including company stock and options. directly owns 2.28% of the company’s shares, worth A$2.14M. The average tenure of the management team and the board of directors is 10.3 years and 3.3 years respectively.
Key information
Phil Hodgson
Chief executive officer
AU$572.7k
Total compensation
| CEO salary percentage | 80.85% |
| CEO tenure | 13.4yrs |
| CEO ownership | 2.3% |
| Management average tenure | 10.3yrs |
| Board average tenure | 3.3yrs |
Recent management updates
Recent updates
Narrative Update • Jun 18
CXL: Index Inclusion And Refined Earnings Profile Will Support Future Upside
Analysts have made a small adjustment to their Calix price target, reflecting slightly updated assumptions around discount rate, profit margin and future P/E, while keeping fair value at A$2.05. What’s in the News for Calix No recent Calix-specific news stories were provided in the primary source feed.Narrative Update • Jun 03
CXL: Index Inclusion And Refined Earnings Profile Will Support Future Upside
Analysts have adjusted their price target for Calix to reflect unchanged fair value at A$2.05, a slightly updated discount rate and revenue growth inputs, a lower profit margin assumption and a higher future P/E of 134.20x, which together refine their view of the stock's risk and earnings profile. What's in the News Calix Limited (ASX:CXL) has been added to the S&P/ASX All Ordinaries Index, according to S&P Dow Jones Indices.Narrative Update • Apr 29
CXL: Index Inclusion And Stable Outlook Will Support Future Upside
Analysts have maintained their A$ fair value estimate for Calix at A$2.05, with only minor tweaks to discount rate, revenue growth, profit margin and future P/E assumptions. These changes reflect updated modelling rather than a shift in the overall view.Narrative Update • Apr 12
CXL: Index Addition And Profit Outlook Will Support Future Upside
Analysts have slightly adjusted their price target for Calix, now seeing fair value at A$2.05. This reflects updated assumptions around discount rate, revenue growth, profit margin and future P/E, while leaving the overall valuation essentially unchanged.Narrative Update • Mar 27
CXL: Index Inclusion And Profit Outlook Will Support Future Upside
Analysts have revised their price target for Calix to reflect a lower projected profit margin and a higher forward P/E multiple, adjusting their A$ valuation to account for these updated assumptions. What's in the News Calix Limited (ASX:CXL) has been added to the S&P/ASX All Ordinaries Index, reflecting its inclusion in a broader Australian equity benchmark (Key Developments).
New Narrative • Mar 13
Magnesium Wastewater Adoption And Decarbonisation Projects Will Transform This Undervalued Emissions Technology Play
Catalysts About Calix Calix develops and commercialises kiln based technologies and magnesium products that aim to reduce industrial emissions and improve wastewater treatment. What are the underlying business or industry changes driving this perspective?Narrative Update • Mar 08
CXL: Rio Tinto Partnership Will Support Future Low Emissions Steel Upside
Analysts have lifted their price target on Calix from A$1.93 to A$2.05, reflecting updated views on fair value, discount rate, revenue growth, profit margins, and future P/E assumptions. Valuation Changes Fair Value: A$1.93 to A$2.05, a small upward move in the assessed valuation range.
New Narrative • Feb 26
Hydrogen Dependent Decarbonisation Projects Will Face Delays Yet Ultimately Support Modest Upside
Catalysts About Calix Calix develops and commercialises kiln based process technology and magnesia products that target industrial decarbonisation and water treatment markets. What are the underlying business or industry changes driving this perspective?Narrative Update • Feb 22
CXL: Rio Tinto Partnership Will Drive Future Low Emissions Steel Upside
Analysts have trimmed their price targets on Calix by A$4.70 to A$4.50, reflecting slightly updated assumptions for discount rates, profit margins and future P/E. Valuation Changes Fair Value: Modelled fair value is unchanged at A$1.93.Analysis Article • Feb 10
Optimistic Investors Push Calix Limited (ASX:CXL) Shares Up 38% But Growth Is Lacking
Despite an already strong run, Calix Limited ( ASX:CXL ) shares have been powering on, with a gain of 38% in the last...Narrative Update • Feb 07
CXL: Rio Tinto Partnership Will Drive Future Low Emissions Steel Upside
Analysts have made small adjustments to their price targets for Calix, maintaining fair value at about $1.93 while refining assumptions for the discount rate, revenue growth, profit margins, and future P/E. These changes reflect updated views on risk and profitability without significantly altering the overall valuation perspective.Narrative Update • Jan 22
CXL: Rio Tinto Partnership Will Support Future Low Emissions Steel Upside
Analysts have raised their price target on Calix by US$1.93 to reflect updated assumptions regarding the discount rate, long-term revenue, profit margin, and future P/E multiples. What's in the News Rio Tinto has signed a Joint Development Agreement with Calix to support construction of the Zero Emissions Steel Technology (Zesty) demonstration plant in Western Australia.Narrative Update • Jan 07
CXL: Zesty Green Iron Partnership Will Support Stronger Future Profit Margins
Analysts have lifted their price target for Calix, citing modest adjustments to assumptions such as a higher discount rate, slightly faster expected revenue growth, and an unchanged fair value estimate. Together, these changes refine how they view the company’s risk and return profile.Narrative Update • Dec 19
CXL: Zesty Green Iron Project Will Drive Stronger Future Profit Margins
Analysts have raised their price target on Calix by about 5 percent to approximately 1.93 dollars, citing a more favorable profit margin outlook that more than offsets tempered revenue growth expectations and a slightly higher discount rate. What's in the News Rio Tinto signs a Joint Development Agreement with Calix to support construction of the Zero Emissions Steel Technology (Zesty) demonstration plant in Kwinana, Western Australia, targeting lower emissions steelmaking using Pilbara iron ores (Key Developments).Analysis Article • Nov 29
Subdued Growth No Barrier To Calix Limited (ASX:CXL) With Shares Advancing 63%
The Calix Limited ( ASX:CXL ) share price has done very well over the last month, posting an excellent gain of 63...Analysis Article • Oct 15
There's Reason For Concern Over Calix Limited's (ASX:CXL) Massive 32% Price Jump
Calix Limited ( ASX:CXL ) shares have had a really impressive month, gaining 32% after a shaky period beforehand. But...Analysis Article • Oct 13
Is Calix (ASX:CXL) In A Good Position To Invest In Growth?
Just because a business does not make any money, does not mean that the stock will go down. For example, although...Analysis Article • Aug 28
AU$1.83: That's What Analysts Think Calix Limited (ASX:CXL) Is Worth After Its Latest Results
Calix Limited ( ASX:CXL ) last week reported its latest yearly results, which makes it a good time for investors to...Analysis Article • Jul 29
There's Reason For Concern Over Calix Limited's (ASX:CXL) Massive 77% Price Jump
Calix Limited ( ASX:CXL ) shares have had a really impressive month, gaining 77% after a shaky period beforehand. Not...
New Narrative • Apr 08
Hybrid Energy And US Water Projects Will Define Future Efficiency
Advancements in electrification technology could reduce operational costs and improve net margins through lower fossil fuel dependency.Analysis Article • Mar 24
Calix Limited's (ASX:CXL) Popularity With Investors Under Threat As Stock Sinks 26%
To the annoyance of some shareholders, Calix Limited ( ASX:CXL ) shares are down a considerable 26% in the last month...Analysis Article • Feb 05
Calix Limited's (ASX:CXL) Popularity With Investors Under Threat As Stock Sinks 28%
To the annoyance of some shareholders, Calix Limited ( ASX:CXL ) shares are down a considerable 28% in the last month...Analysis Article • Oct 30
Calix Limited's (ASX:CXL) Popularity With Investors Under Threat As Stock Sinks 26%
Calix Limited ( ASX:CXL ) shares have had a horrible month, losing 26% after a relatively good period beforehand. For...Analysis Article • Sep 12
What Calix Limited's (ASX:CXL) 32% Share Price Gain Is Not Telling You
Calix Limited ( ASX:CXL ) shareholders would be excited to see that the share price has had a great month, posting a...Analysis Article • Jul 29
Calix Limited's (ASX:CXL) 33% Dip Still Leaving Some Shareholders Feeling Restless Over Its P/SRatio
Calix Limited ( ASX:CXL ) shareholders that were waiting for something to happen have been dealt a blow with a 33...Analysis Article • Jun 13
Calix Limited's (ASX:CXL) 26% Dip Still Leaving Some Shareholders Feeling Restless Over Its P/SRatio
The Calix Limited ( ASX:CXL ) share price has fared very poorly over the last month, falling by a substantial 26%. The...Analysis Article • Apr 19
We're Keeping An Eye On Calix's (ASX:CXL) Cash Burn Rate
There's no doubt that money can be made by owning shares of unprofitable businesses. For example, although Amazon.com...Analysis Article • Mar 02
Analyst Forecasts For Calix Limited (ASX:CXL) Are Surging Higher
Celebrations may be in order for Calix Limited ( ASX:CXL ) shareholders, with the analysts delivering a significant...Analysis Article • Sep 26
Calix (ASX:CXL) Is In A Good Position To Deliver On Growth Plans
Even when a business is losing money, it's possible for shareholders to make money if they buy a good business at the...Analysis Article • Jul 01
Calix Limited's (ASX:CXL) Business Is Yet to Catch Up With Its Share Price
With a price-to-sales (or "P/S") ratio of 43.7x Calix Limited ( ASX:CXL ) may be sending very bearish signals at the...Analysis Article • Aug 28
Analysts Just Shaved Their Calix Limited (ASX:CXL) Forecasts Dramatically
Market forces rained on the parade of Calix Limited ( ASX:CXL ) shareholders today, when the analysts downgraded their...CEO Compensation Analysis
| Date | Total Compensation | Salary | Company Earnings |
|---|---|---|---|
| Dec 31 2025 | n/a | n/a | -AU$49m |
| Sep 30 2025 | n/a | n/a | -AU$34m |
| Jun 30 2025 | AU$573k | AU$463k | -AU$19m |
| Mar 31 2025 | n/a | n/a | -AU$22m |
| Dec 31 2024 | n/a | n/a | -AU$25m |
| Sep 30 2024 | n/a | n/a | -AU$25m |
| Jun 30 2024 | AU$894k | AU$524k | -AU$25m |
| Mar 31 2024 | n/a | n/a | -AU$26m |
| Dec 31 2023 | n/a | n/a | -AU$27m |
| Sep 30 2023 | n/a | n/a | -AU$25m |
| Jun 30 2023 | AU$738k | AU$495k | -AU$23m |
| Mar 31 2023 | n/a | n/a | -AU$21m |
| Dec 31 2022 | n/a | n/a | -AU$18m |
| Sep 30 2022 | n/a | n/a | -AU$17m |
| Jun 30 2022 | AU$686k | AU$468k | -AU$16m |
| Mar 31 2022 | n/a | n/a | -AU$14m |
| Dec 31 2021 | n/a | n/a | -AU$12m |
| Sep 30 2021 | n/a | n/a | -AU$10m |
| Jun 30 2021 | AU$640k | AU$414k | -AU$7m |
| Mar 31 2021 | n/a | n/a | -AU$7m |
| Dec 31 2020 | n/a | n/a | -AU$6m |
| Sep 30 2020 | n/a | n/a | -AU$7m |
| Jun 30 2020 | AU$570k | AU$398k | -AU$7m |
| Mar 31 2020 | n/a | n/a | -AU$7m |
| Dec 31 2019 | n/a | n/a | -AU$6m |
| Sep 30 2019 | n/a | n/a | -AU$7m |
| Jun 30 2019 | AU$416k | AU$395k | -AU$7m |
Compensation vs Market: Phil's total compensation ($USD395.20K) is about average for companies of similar size in the Australian market ($USD319.31K).
Compensation vs Earnings: Phil's compensation has been consistent with company performance over the past year.
CEO
Phil Hodgson
13.4yrs
Tenure
AU$572,687
Compensation
Dr. Philip Hargraves Hodgson also known as Phil, BE, PhD has been Chief Executive Officer of Calix Limited since 2013 and serves as its Managing Director. He has been Director of Calix Limited since Februa...
Leadership Team
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| MD, CEO & Director | 13.4yrs | AU$572.69k | 2.28% A$ 2.1m | |
| Co-Founder & Chief Scientist | 21.4yrs | AU$440.33k | 3.6% A$ 3.4m | |
| CFO & Company Secretary | 15.4yrs | AU$467.04k | 0.75% A$ 708.4k | |
| General Manager of Operations | 7.3yrs | no data | no data | |
| Investor Relations Manager | no data | no data | no data | |
| General Manager of People & Culture | 2.3yrs | no data | no data | |
| Sustainability Manager | no data | no data | no data | |
| Chief Scientist of Calix Ventures | no data | no data | no data | |
| GM of Water (North America) & President of Inland Environmental Resources | no data | AU$478.26k | no data | |
| Chief Executive Officer of the LEILAC Group | 4.6yrs | AU$391.55k | no data | |
| General Manager of Commercial | no data | AU$371.56k | no data |
10.3yrs
Average Tenure
Experienced Management: CXL's management team is seasoned and experienced (10.3 years average tenure).
Board Members
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| MD, CEO & Director | 12.3yrs | AU$572.69k | 2.28% A$ 2.1m | |
| Non Executive Independent Chairman | 3.3yrs | AU$187.50k | 0.15% A$ 138.8k | |
| Independent Non-Executive Director | 2.4yrs | AU$134.46k | 0.087% A$ 82.0k | |
| Independent Non-Executive Director | 2.4yrs | AU$135.00k | 0.39% A$ 363.1k | |
| Independent Non-Executive Director | 5.8yrs | AU$145.00k | 0.078% A$ 73.4k |
3.3yrs
Average Tenure
Experienced Board: CXL's board of directors are considered experienced (3.3 years average tenure).
Company Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2026/06/29 22:44 |
| End of Day Share Price | 2026/06/29 00:00 |
| Earnings | 2025/12/31 |
| Annual Earnings | 2025/06/30 |
Data Sources
The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.
| Package | Data | Timeframe | Example US Source * |
|---|---|---|---|
| Company Financials | 10 years |
| |
| Analyst Consensus Estimates | +3 years |
|
|
| Market Prices | 30 years |
| |
| Ownership | 10 years |
| |
| Management | 10 years |
| |
| Key Developments | 10 years |
|
* Example for US securities, for non-US equivalent regulatory forms and sources are used.
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.
Analysis Model and Snowflake
Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.
Learn about the world class team who designed and built the Simply Wall St analysis model.
Industry and Sector Metrics
Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.
Analyst Sources
Calix Limited is covered by 2 analysts. 2 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.
| Analyst | Institution |
|---|---|
| Conor O’Prey | Canaccord Genuity |
| Philip Pepe | Shaw and Partners Limited |