Executive Summary
Codan Limited develops rugged and electronics solutions for organizations, mining companies, security and military groups, and governments worldwide.
Snowflake
Fundamentals
Flawless balance sheet with solid track record and pays a dividend.
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Share Price & News
How has Codan's share price performed over time and what events caused price changes?
Latest Share Price and Events
Market Performance
7 Day Return
3.5%
CDA
1.3%
AU Electronic
0.4%
AU Market
1 Year Return
88.3%
CDA
71.5%
AU Electronic
9.8%
AU Market
Return vs Industry: CDA exceeded the Australian Electronic industry which returned 71.5% over the past year.
Return vs Market: CDA exceeded the Australian Market which returned 9.8% over the past year.
Shareholder returns
| CDA | Industry | Market | |
|---|---|---|---|
| 7 Day | 3.5% | 1.3% | 0.4% |
| 30 Day | 10.6% | 1.9% | -1.3% |
| 90 Day | 45.2% | 18.6% | -0.5% |
| 1 Year | 95.5%88.3% | 75.7%71.5% | 16.1%9.8% |
| 3 Year | 323.3%269.3% | 37.9%31.3% | 36.1%17.9% |
| 5 Year | 959.8%743.3% | 125.6%104.9% | 49.4%15.7% |
Price Volatility Vs. Market
How volatile is Codan's share price compared to the market and industry in the last 5 years?
Simply Wall St News
8 hours ago | Simply Wall St
Calculating The Intrinsic Value Of Codan Limited (ASX:CDA)1 week ago | Simply Wall St
Why I Like Codan Limited (ASX:CDA)2 weeks ago | Simply Wall St
Did You Miss Codan's (ASX:CDA) Whopping 761% Share Price Gain?Valuation
Is Codan undervalued compared to its fair value and its price relative to the market?
9.8%
Undervalued compared to fair value
Share Price vs. Fair Value
Below Fair Value: CDA (A$5.65) is trading below our estimate of fair value (A$6.27)
Significantly Below Fair Value: CDA is trading below fair value, but not by a significant amount.
Price To Earnings Ratio
PE vs Industry: CDA is good value based on its PE Ratio (22.1x) compared to the Electronic industry average (28.9x).
PE vs Market: CDA is poor value based on its PE Ratio (22.1x) compared to the Australian market (18.2x).
Price to Earnings Growth Ratio
PEG Ratio: CDA is poor value based on its PEG Ratio (2.4x)
Price to Book Ratio
PB vs Industry: CDA is overvalued based on its PB Ratio (4.8x) compared to the AU Electronic industry average (3.9x).
Next Steps
Future Growth
How is Codan forecast to perform in the next 1 to 3 years based on estimates from 3 analysts?
9.2%
Forecasted annual earnings growth
Earnings and Revenue Growth Forecasts
Analyst Future Growth Forecasts
Earnings vs Savings Rate: CDA's forecast earnings growth (9.2% per year) is above the savings rate (2.3%).
Earnings vs Market: CDA's earnings (9.2% per year) are forecast to grow slower than the Australian market (10.3% per year).
High Growth Earnings: CDA's earnings are forecast to grow, but not significantly.
Revenue vs Market: CDA's revenue (6.6% per year) is forecast to grow faster than the Australian market (3.6% per year).
High Growth Revenue: CDA's revenue (6.6% per year) is forecast to grow slower than 20% per year.
Earnings per Share Growth Forecasts
Future Return on Equity
Future ROE: CDA's Return on Equity is forecast to be high in 3 years time (21.3%)
Next Steps
Past Performance
How has Codan performed over the past 5 years?
33.2%
Historical annual earnings growth
Earnings and Revenue History
Past Earnings Growth Analysis
Earnings Trend: CDA's earnings have grown significantly by 33.2% per year over the past 5 years.
Accelerating Growth: CDA's earnings growth over the past year (9.8%) is below its 5-year average (33.2% per year).
Earnings vs Industry: CDA earnings growth over the past year (9.8%) exceeded the Electronic industry -66.4%.
Return on Equity
High ROE: CDA's Return on Equity (21.6%) is considered high.
Return on Assets
ROA vs Industry: CDA has a higher Return on Assets than the Electronic industry average last year.
Return on Capital Employed
ROCE Improving: CDA has significantly improved its Return on Capital Employed over the past 3 years.
Next Steps
Financial Health
How is Codan's financial position?
Financial Position Analysis
Short Term Liabilities: CDA's short term assets (A$102.5M) exceeds its short term liabilities (A$53.8M)
Long Term Liabilities: CDA's short term assets (102.5M) exceeds its long term liabilities (9.3M)
Debt to Equity History and Analysis
Debt Level: CDA is debt free.
Reducing Debt: CDA has no debt compared to 5 years ago when its debt to equity ratio was 49.8%.
Debt Coverage: CDA has no debt, therefore it does not need to be covered by operating cash flow.
Interest Coverage: CDA has no debt, therefore coverage of interest payments is not a concern.
Balance Sheet
Inventory Level: CDA has a low level of unsold assets or inventory.
Debt Coverage by Assets: Insufficient data to determine if CDA's debt is covered by short term assets.
Next Steps
Dividend
What is Codan's current dividend yield, its reliability and sustainability?
2.48%
Current Dividend Yield
Dividend Yield vs Market
Current dividend yield vs market & industry
Stability and Growth of Payments
Notable Dividend: CDA's dividend (2.48%) is higher than the bottom 25% of dividend payers in the Australian market (2.44%).
High Dividend: CDA's dividend (2.48%) is low compared to the top 25% of dividend payers in the Australian market (5.59%).
Stable Dividend: CDA's dividend payments have been volatile in the past 10 years.
Growing Dividend: CDA's dividend payments have increased over the past 10 years.
Current Payout to Shareholders
Dividend Coverage: With its reasonably low payout ratio (35.3%), CDA's dividend payments are well covered by earnings.
Future Payout to Shareholders
Future Dividend Coverage: CDA's dividends in 3 years are forecast to be covered by earnings (67.4% payout ratio).
Next Steps
Management
What is the CEO of Codan's salary, the management and board of directors tenure and is there insider trading?
8.9yrs
Average management tenure
CEO
Donald McGurk (57yo)
8.9yrs
Tenure
AU$1,229,034
Compensation
Mr. Donald S. McGurk, HNC(Mech Eng), MBA, FAICD, Harvard AMP has been the Chief Executive Officer and Managing Director of Codan Limited since November 2010. Mr. McGurk has been Executive Director of Codan ...
CEO Compensation Analysis
Compensation vs. Market: Donald's total compensation ($USD841.40K) is about average for companies of similar size in the Australian market ($USD992.67K).
Compensation vs Earnings: Donald's compensation has been consistent with company performance over the past year.
Management Age and Tenure
8.9yrs
Average Tenure
Experienced Management: CDA's management team is seasoned and experienced (8.9 years average tenure).
Board Age and Tenure
4.7yrs
Average Tenure
62.5yo
Average Age
Experienced Board: CDA's board of directors are considered experienced (4.7 years average tenure).
Insider Trading
Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.
Recent Insider Transactions
| Entity | Company |
| Shares | 1,331,666 |
| Max Price | AU$3.36 |
| Entity | Company |
| Shares | 1,963,378 |
| Max Price | AU$4.26 |
| Entity | Company |
| Shares | 1,008,755 |
| Max Price | AU$3.13 |
| Entity | Company |
| Shares | 3,308,736 |
| Max Price | AU$3.26 |
| Entity | Individual |
| Role | Chief Executive Officer MD, CEO & Executive Director |
| Shares | 100,000 |
| Max Price | AU$3.10 |
Ownership Breakdown
Management Team
Donald McGurk (57yo)
MD, CEO & Executive Director
- Tenure: 8.9yrs
- Compensation: AU$1.23m
Peter Charlesworth
Executive General Manager of Minelab & Codan Defence
- Tenure: 16.8yrs
- Compensation: AU$817.98k
Michael Barton
CFO & Company Secretary
- Tenure: 10.1yrs
- Compensation: AU$642.12k
Rory Linehan
Chief Technology Officer
- Tenure: 0.8yrs
- Compensation: AU$731.49k
Mette Pontoppidan
Head of Brand & Marketing
- Tenure: 4.5yrs
Sarah Emms
Manager of Investor Relations
- Tenure: 0yrs
S. Sangster
Executive General Manager of Tactical Communications
- Tenure: 0yrs
- Compensation: AU$689.78k
Board Members
Kathy Gramp (60yo)
Independent Non-Executive Director
- Tenure: 3.9yrs
- Compensation: AU$106.99k
David Simmons (65yo)
Independent Chairman
- Tenure: 4.7yrs
- Compensation: AU$196.15k
Donald McGurk (57yo)
MD, CEO & Executive Director
- Tenure: 8.9yrs
- Compensation: AU$1.23m
Graeme Rodger Barclay
Independent Non-Executive Director
- Tenure: 4.7yrs
- Compensation: AU$98.08k
Peter Leahy (66yo)
Independent Non-Executive Director
- Tenure: 11.1yrs
- Compensation: AU$98.08k
Company Information
Codan Limited's company bio, employee growth, exchange listings and data sources
Key Information
- Name: Codan Limited
- Ticker: CDA
- Exchange: ASX
- Founded: 1959
- Industry: Electronic Equipment and Instruments
- Sector: Tech
- Market Cap: AU$1.044b
- Shares outstanding: 179.99m
- Website: https://www.codan.com.au
Number of Employees
Location
- Codan Limited
- Technology Park
- 2 Second Avenue
- Mawson Lakes
- South Australia
- 5095
- Australia
Listings
| Ticker | Exchange | Primary Security | Security Type | Country | Currency | Listed on |
|---|---|---|---|---|---|---|
| CDA | ASX (Australian Securities Exchange) | Yes | Ordinary Shares | AU | AUD | Nov 2003 |
| CODA.F | OTCPK (Pink Sheets LLC) | Yes | Ordinary Shares | US | USD | Nov 2003 |
| CDA | CHIA (Chi-X Australia) | Yes | Ordinary Shares | AU | AUD | Nov 2003 |
Biography
Codan Limited develops rugged and electronics solutions for organizations, mining companies, security and military groups, and governments worldwide. It operates through three segments: Communications Equi ...
Company Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2019/10/21 10:31 |
| End of Day Share Price | 2019/10/21 00:00 |
| Earnings | 2019/06/30 |
| Annual Earnings | 2019/06/30 |
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.