Codan Past Earnings Performance

Past criteria checks 5/6

Codan has been growing earnings at an average annual rate of 3.6%, while the Electronic industry saw earnings growing at 11.6% annually. Revenues have been growing at an average rate of 10.1% per year. Codan's return on equity is 20%, and it has net margins of 15.1%.

Key information

3.6%

Earnings growth rate

3.3%

EPS growth rate

Electronic Industry Growth	16.1%
Revenue growth rate	10.1%
Return on equity	20.0%
Net Margin	15.1%
Next Earnings Update	21 Aug 2025

Recent past performance updates

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

Revenue & Expenses Breakdown

How Codan makes and spends money. Based on latest reported earnings, on an LTM basis.

Earnings and Revenue History

ASX:CDA Revenue, expenses and earnings (AUD Millions)
Date	Revenue	Earnings	G+A Expenses	R&D Expenses
31 Dec 24	590	89	155	36
30 Sep 24	570	85	155	36
30 Jun 24	550	81	155	36
31 Mar 24	531	78	148	35
31 Dec 23	511	75	141	33
30 Sep 23	484	71	134	32
30 Jun 23	456	68	127	31
31 Mar 23	459	75	121	31
31 Dec 22	461	82	116	31
30 Sep 22	484	91	115	32
30 Jun 22	506	101	115	33
31 Mar 22	503	100	109	33
31 Dec 21	499	99	102	33
30 Sep 21	468	95	89	30
30 Jun 21	437	90	77	26
31 Mar 21	404	83	72	26
31 Dec 20	372	75	67	25
30 Sep 20	360	69	70	25
30 Jun 20	348	64	73	26
31 Mar 20	331	59	72	26
31 Dec 19	313	54	70	27
30 Sep 19	292	50	68	26
30 Jun 19	271	46	65	25
31 Mar 19	267	47	65	24
31 Dec 18	264	48	64	23
30 Sep 18	247	45	61	22
30 Jun 18	230	42	57	20
31 Mar 18	223	39	57	19
31 Dec 17	217	37	57	17
30 Sep 17	222	40	57	17
30 Jun 17	226	44	57	17
31 Mar 17	217	38	57	16
31 Dec 16	208	32	58	16
30 Sep 16	189	24	56	15
30 Jun 16	170	15	54	14
31 Mar 16	155	14	52	13
31 Dec 15	141	13	50	12
30 Sep 15	142	13	50	12
30 Jun 15	144	13	50	11
31 Mar 15	142	11	48	10
31 Dec 14	139	10	46	9
30 Sep 14	136	10	45	9
30 Jun 14	132	9	44	9
31 Mar 14	150	17	47	11

Quality Earnings: CDA has high quality earnings.

Growing Profit Margin: CDA's current net profit margins (15.1%) are higher than last year (14.7%).

Free Cash Flow vs Earnings Analysis

Past Earnings Growth Analysis

Earnings Trend: CDA's earnings have grown by 3.6% per year over the past 5 years.

Accelerating Growth: CDA's earnings growth over the past year (19.3%) exceeds its 5-year average (3.6% per year).

Earnings vs Industry: CDA earnings growth over the past year (19.3%) exceeded the Electronic industry 5%.

Return on Equity

High ROE: CDA's Return on Equity (20%) is considered low.

Return on Assets

Return on Capital Employed

Discover strong past performing companies

Company Analysis and Financial Data Status

Data	Last Updated (UTC time)
Company Analysis	2025/02/22 03:25
End of Day Share Price	2025/02/21 00:00
Earnings	2024/12/31
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.

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

Codan Limited is covered by 10 analysts. 6 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

Codan Past Earnings Performance

Past criteria checks 5/6

Key information

Recent past performance updates

Codan Limited to Report Fiscal Year 2025 Results on Aug 21, 2025

Full year 2024 earnings: Revenues exceed analyst expectations

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

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

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

Full year 2023 earnings: Revenues exceed analyst expectations

Recent updates

Codan Limited to Report Fiscal Year 2025 Results on Aug 21, 2025

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

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

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

Codan Limited, Annual General Meeting, Oct 26, 2022

Codan Limited Appoints Daniel Widera as Joint Company Secretary, Effective 1 September 2022

Investor sentiment deteriorated over the past week

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

Full year 2022 earnings: EPS in line with expectations, revenues disappoint

Codan Limited Announces Ordinary Distribution for the Period of Six Months Period Ended June 30, 2022, Payable on 7 September 2022

Peter Leahy Not Stand for Re- Election as Director of Codan