How does CDA's PE Ratio compare to its peers?

CDA is good value based on its Price-To-Earnings Ratio (36.1x) compared to the peer average (68.6x).

How does CDA's PE Ratio compare vs other companies in the Global Electronic Industry?

CDA is expensive based on its Price-To-Earnings Ratio (36.1x) compared to the Global Electronic industry average (23.5x).

What is CDA's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

CDA is good value based on its Price-To-Earnings Ratio (36.1x) compared to the estimated Fair Price-To-Earnings Ratio (38.6x).

What is the Fair Price of CDA when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

CDA (A$16.18) is trading below our estimate of [[fair value]] (A$26.82)

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

Target price is lower than the current share price.

CDA Stock Overview

Develops technology solutions for United Nations organizations, security and military groups, government departments, individuals, and small-scale miners. More details

CDA fundamental analysis
Snowflake Score
Valuation	4/6
Future Growth	4/6
Past Performance	4/6
Financial Health	5/6
Dividends	3/6

Rewards

Trading at 39.7% below our estimate of its fair value

Earnings are forecast to grow 17.42% per year

Earnings grew by 20.1% over the past year

Risk Analysis

No risks detected for CDA from our risk checks.

My Notes

Capture your thoughts, links and company narrative

Codan Limited Competitors

Dicker Data

ASX:DDR

AU$1.5b

ASX:TZL

AU$16.2m

Audinate Group

ASX:AD8

AU$607.6m

Vaisala Oyj

HLSE:VAIAS

€1.8b

Price History & Performance

Summary of share price highs, lows and changes for Codan
Historical stock prices
Current Share Price	AU$16.18
52 Week High	AU$16.60
52 Week Low	AU$7.86
Beta	1.04
1 Month Change	-2.00%
3 Month Change	3.72%
1 Year Change	98.28%
3 Year Change	77.61%
5 Year Change	106.11%
Change since IPO	1,098.52%

These 4 Measures Indicate That Codan (ASX:CDA) Is Using Debt Reasonably Well

Dec 09

Codan Limited's (ASX:CDA) Shares Climb 27% But Its Business Is Yet to Catch Up

Sep 04

Recent updates

An Intrinsic Calculation For Codan Limited (ASX:CDA) Suggests It's 32% Undervalued

Apr 24

Capital Allocation Trends At Codan (ASX:CDA) Aren't Ideal

Mar 26

There's Reason For Concern Over Codan Limited's (ASX:CDA) Massive 27% Price Jump

Feb 22

A Look At The Fair Value Of Codan Limited (ASX:CDA)

Nov 30

Codan's (ASX:CDA) Shareholders Will Receive A Smaller Dividend Than Last Year

Aug 31

Codan (ASX:CDA) Has A Pretty Healthy Balance Sheet

Jun 23

Some Investors May Be Worried About Codan's (ASX:CDA) Returns On Capital

Apr 13

Time To Worry? Analysts Are Downgrading Their Codan Limited (ASX:CDA) Outlook

Oct 28

Codan (ASX:CDA) Is Aiming To Keep Up Its Impressive Returns

Oct 27

Is Codan (ASX:CDA) Using Too Much Debt?

Oct 11

Here's Why We Think Codan (ASX:CDA) Is Well Worth Watching

Sep 26

Should You Investigate Codan Limited (ASX:CDA) At AU$7.67?

Aug 19

Is There An Opportunity With Codan Limited's (ASX:CDA) 50% Undervaluation?

Jul 18

Capital Investment Trends At Codan (ASX:CDA) Look Strong

Jun 28

These 4 Measures Indicate That Codan (ASX:CDA) Is Using Debt Safely

May 31

Here's Why We Think Codan (ASX:CDA) Is Well Worth Watching

Apr 04

Capital Investment Trends At Codan (ASX:CDA) Look Strong

Mar 07

Analysts Just Made A Major Revision To Their Codan Limited (ASX:CDA) Revenue Forecasts

Feb 21

Codan (ASX:CDA) Could Easily Take On More Debt

Feb 17

Is Codan Limited (ASX:CDA) Trading At A 45% Discount?

Jan 19

Does Codan (ASX:CDA) Deserve A Spot On Your Watchlist?

Dec 20

Investors Should Be Encouraged By Codan's (ASX:CDA) Returns On Capital

Dec 06

An Intrinsic Calculation For Codan Limited (ASX:CDA) Suggests It's 33% Undervalued

Oct 05

Codan's (ASX:CDA) Upcoming Dividend Will Be Larger Than Last Year's

Aug 21

Returns On Capital Are A Standout For Codan (ASX:CDA)

Aug 13

Calculating The Fair Value Of Codan Limited (ASX:CDA)

Jul 06

Shareholder Returns

	CDA	AU Electronic	AU Market
7D	-1.1%	-0.5%	-0.06%
1Y	98.3%	1.0%	9.0%

Return vs Industry: CDA exceeded the Australian Electronic industry which returned 1% over the past year.

Return vs Market: CDA exceeded the Australian Market which returned 9% over the past year.

Price Volatility

Is CDA's price volatile compared to industry and market?
CDA volatility
CDA Average Weekly Movement	3.2%
Electronic Industry Average Movement	9.3%
Market Average Movement	8.0%
10% most volatile stocks in AU Market	16.6%
10% least volatile stocks in AU Market	3.0%

Stable Share Price: CDA has not had significant price volatility in the past 3 months compared to the Australian market.

Volatility Over Time: CDA's weekly volatility (3%) has been stable over the past year.

About the Company

Founded	Employees	CEO	Website
1959	n/a	Alf Ianniello	www.codan.com.au

Codan Limited develops technology solutions for United Nations organizations, security and military groups, government departments, individuals, and small-scale miners. It operates through Communications and Metal Detection segments. The Communications segment designs, develops, manufactures, and markets communication equipment that consists of DTC radio solutions for the wireless transmission of video and other data applications; and Zetron communications solutions.

Codan Limited Fundamentals Summary

How do Codan's earnings and revenue compare to its market cap?
CDA fundamental statistics
Market cap	AU$2.94b
Earnings (TTM)	AU$81.39m
Revenue (TTM)	AU$550.46m

36.1x

P/E Ratio

5.3x

P/S Ratio

Is CDA overvalued?

See Fair Value and valuation analysis

Earnings & Revenue

Key profitability statistics from the latest earnings report (TTM)
CDA income statement (TTM)
Revenue	AU$550.46m
Cost of Revenue	AU$245.23m
Gross Profit	AU$305.23m
Other Expenses	AU$223.84m
Earnings	AU$81.39m

Last Reported Earnings

Jun 30, 2024

Next Earnings Date

n/a

Earnings per share (EPS)	0.45
Gross Margin	55.45%
Net Profit Margin	14.79%
Debt/Equity Ratio	21.3%

How did CDA perform over the long term?

See historical performance and comparison

Dividends

1.5%

Current Dividend Yield

50%

Payout Ratio

Company Analysis and Financial Data Status

Data	Last Updated (UTC time)
Company Analysis	2025/01/04 21:21
End of Day Share Price	2025/01/03 00:00
Earnings	2024/06/30
Annual Earnings	2024/06/30

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	Income statement Cash flow statement Balance sheet	SEC Form 10-K SEC Form 10-Q
Analyst Consensus Estimates	+3 years	Forecast financials Analyst price targets	Analyst Research Reports Blue Matrix
Market Prices	30 years	Stock prices Dividends, Splits and Actions	ICE Market Data SEC Form S-1
Ownership	10 years	Top shareholders Insider trading	SEC Form 4 SEC Form 13D
Management	10 years	Leadership team Board of directors	SEC Form 10-K SEC Form DEF 14A
Key Developments	10 years	Company announcements	SEC Form 8-K

^* 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 here.

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 .

Analyst Sources

Codan Limited is covered by 11 analysts. 7 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
Daniel Laing	Bell Potter
Cameron Bell	Canaccord Genuity
Tim Plumbe	CGS International

CDA Stock Overview

Rewards

Risk Analysis

Codan Limited Competitors

ASX:DDR

AU$1.5b

ASX:TZL

AU$16.2m

ASX:AD8

AU$607.6m

HLSE:VAIAS

€1.8b

Price History & Performance

Recent News & Updates

Price target increased by 7.9% to AU$15.89

These 4 Measures Indicate That Codan (ASX:CDA) Is Using Debt Reasonably Well

Codan Limited (ASX:CDA) agreed to acquire Skt2 LLC for $33.6 million.

Now 21% undervalued

Codan Limited's (ASX:CDA) Shares Climb 27% But Its Business Is Yet to Catch Up

MD, CEO & Director exercised options to buy AU$246k worth of stock.

Recent updates

Price target increased by 7.9% to AU$15.89

These 4 Measures Indicate That Codan (ASX:CDA) Is Using Debt Reasonably Well

Codan Limited (ASX:CDA) agreed to acquire Skt2 LLC for $33.6 million.

Now 21% undervalued

Codan Limited's (ASX:CDA) Shares Climb 27% But Its Business Is Yet to Catch Up

MD, CEO & Director exercised options to buy AU$246k worth of stock.

Codan Limited, Annual General Meeting, Oct 23, 2024

Investor sentiment improves as stock rises 16%

Final dividend increased to AU$0.12

Codan Limited Announces Ordinary Fully Franked Dividend for the Six Months Ended June 30, 2024, Payable on September 18, 2024

Full year 2024 earnings: Revenues exceed analyst expectations

Codan Limited to Report Fiscal Year 2024 Results on Aug 22, 2024

Codan Limited's (ASX:CDA) Price Is Out Of Tune With Earnings

Price target increased by 8.0% to AU$11.42

Should You Think About Buying Codan Limited (ASX:CDA) Now?

An Intrinsic Calculation For Codan Limited (ASX:CDA) Suggests It's 32% Undervalued

Now 20% undervalued

Capital Allocation Trends At Codan (ASX:CDA) Aren't Ideal

Now 21% undervalued

First half dividend of AU$0.10 announced

There's Reason For Concern Over Codan Limited's (ASX:CDA) Massive 27% Price Jump

First half 2024 earnings released: EPS: AU$0.21 (vs AU$0.17 in 1H 2023)

Price target increased by 20% to AU$10.58

Investor sentiment improves as stock rises 17%

Codan Limited to Report First Half, 2024 Results on Feb 21, 2024

Now 20% undervalued

A Look At The Fair Value Of Codan Limited (ASX:CDA)

Now 21% undervalued

Codan Limited, Annual General Meeting, Oct 25, 2023

Codan's (ASX:CDA) Shareholders Will Receive A Smaller Dividend Than Last Year

Full year 2023 earnings: Revenues exceed analyst expectations

Codan Limited Announces Ordinary Fully Paid Dividend for Six Months Ended June 30, 2023, Payable on September 20, 2023

Price target increased by 11% to AU$8.28

Codan Limited to Report Fiscal Year 2023 Results on Aug 17, 2023

Codan Limited (ASX:CDA) acquired Eagle NewCo Limited from NEC Software Solutions UK Limited for AUD 22 million.

Price target increased by 14% to AU$7.32

Codan (ASX:CDA) Has A Pretty Healthy Balance Sheet

Some Investors May Be Worried About Codan's (ASX:CDA) Returns On Capital

Less than half of directors are independent

Price target increased by 11% to AU$7.17

Codan Limited Announces Ordinary Fully Paid Dividend for Six Months Ended December 31, 2022, Payable on March 10, 2023

First half 2023 earnings: EPS misses analyst expectations

Price target increased by 7.8% to AU$6.50

Codan Limited Announces Management Changes

Codan Limited Announces Management Changes

Codan Limited to Report First Half, 2023 Results on Feb 16, 2023

Codan Limited Revises Earnings Guidance for the First Half Year Ended 31 December 2022

Investor sentiment improves as stock rises 19%

Insider recently bought AU$11m worth of stock

Now 21% undervalued after recent price drop

Price target decreased to AU$6.03

Independent Non-Executive Director recently bought AU$230k worth of stock

Time To Worry? Analysts Are Downgrading Their Codan Limited (ASX:CDA) Outlook

Codan Limited Announces Peter Leahy Intents to Retire as Director

Investor sentiment deteriorated over the past week

Consensus EPS estimates fall by 11%

Price target decreased to AU$8.29

Codan (ASX:CDA) Is Aiming To Keep Up Its Impressive Returns

Investor sentiment deteriorated over the past week