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CSL

DB:CSJA
Snowflake Description

Adequate balance sheet with proven track record and pays a dividend.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
CSJA
DB
A$86B
Market Cap
  1. Home
  2. DE
  3. Pharmaceuticals & Biotech
Company description

CSL Limited researches, develops, manufactures, markets, and distributes biopharmaceutical and allied products in Australia, the United States, Germany, the United Kingdom, Switzerland, China, and internationally. The last earnings update was 65 days ago. More info.


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CSJA Share Price and Events
7 Day Returns
-5.6%
DB:CSJA
-0.7%
DE Biotechs
2.5%
DE Market
1 Year Returns
20.2%
DB:CSJA
-9.2%
DE Biotechs
-6.7%
DE Market
CSJA Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
CSL (CSJA) -5.6% 0.1% -2.1% 20.2% 66.7% -
DE Biotechs -0.7% 4.7% -6.2% -9.2% 44% 8.7%
DE Market 2.5% 3.3% 9.2% -6.7% 9% 13.5%
1 Year Return vs Industry and Market
  • CSJA outperformed the Biotechs industry which returned -9.2% over the past year.
  • CSJA outperformed the Market in Germany which returned -6.7% over the past year.
Price Volatility
CSJA
Industry
5yr Volatility vs Market

CSJA Value

 Is CSL undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of CSL to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for CSL.

DB:CSJA Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 12 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 8.3%
Perpetual Growth Rate 10-Year DE Government Bond Rate 0.2%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for DB:CSJA
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year DE Govt Bond Rate 0.2%
Equity Risk Premium S&P Global 6%
Biotechs Unlevered Beta Simply Wall St/ S&P Global 1.46
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 1.456 (1 + (1- 30%) (7.53%))
1.357
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.36
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 0.23% + (1.357 * 5.96%)
8.32%

Discounted Cash Flow Calculation for DB:CSJA using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for CSL is arrived at by discounting future cash flows to their present value using the 2 stage method. We try to start with analysts estimates of free cash flow, however if these are not available we use the most recent financial results. In the 1st stage we continue to grow the free cash flow over a 10 year period, with the growth rate trending towards the perpetual growth rate used in the 2nd stage. The 2nd stage assumes the company grows at a stable rate into perpetuity.

DB:CSJA DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (USD, Millions) Source Present Value
Discounted (@ 8.32%)
2019 844.79 Analyst x3 779.93
2020 1,104.09 Analyst x3 941.07
2021 1,178.77 Analyst x2 927.59
2022 1,818.22 Analyst x1 1,320.94
2023 2,127.67 Est @ 17.02% 1,427.09
2024 2,382.61 Est @ 11.98% 1,475.39
2025 2,584.07 Est @ 8.46% 1,477.30
2026 2,738.79 Est @ 5.99% 1,445.55
2027 2,855.46 Est @ 4.26% 1,391.42
2028 2,942.55 Est @ 3.05% 1,323.78
Present value of next 10 years cash flows $12,510.08
DB:CSJA DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2028 × (1 + g) ÷ (Discount Rate – g)
= $2,942.55 × (1 + 0.23%) ÷ (8.32% – 0.23%)
$36,466.78
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= $36,466.78 ÷ (1 + 8.32%)10
$16,405.53
DB:CSJA Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= $12,510.08 + $16,405.53
$28,915.61
Equity Value per Share
(USD)
= Total value / Shares Outstanding
= $28,915.61 / 453.10
$204.33
DB:CSJA Discount to Share Price
Calculation Result
Exchange Rate USD/AUD
(Reporting currency to currency of ASX:CSL)
1.399
Value per Share
(AUD)
= Value per Share in USD x Exchange Rate (USD/AUD)
= $63.82 x 1.399
A$89.27
Non-primary Listing Adjustment Factor 1 share in DB:CSJA represents 0.31232x of ASX:CSL
(This could be a different class, a depositary receipt, a different currency, or all of these things.)
0.31232x
Value per Share
(Listing Adjusted, EUR)
= Value per Share (AUD) x Listing Adjustment Factor
= A$ 89.27 x 0.31232
€27.88
Value per share (EUR) From above. €27.88
Current discount Discount to share price of €59.50
= -1 x (€59.50 - €27.88) / €27.88
-113.4%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

  • The current share price of CSL is above its future cash flow value.
Often investors are willing to pay a premium for a company that has a high dividend or the potential for future growth.
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for CSL's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are CSL's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
DB:CSJA PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-12-31) in USD $3.98
ASX:CSL Share Price ** ASX (2019-04-18) in AUD A$190.51
ASX:CSL Share Price converted to USD reporting currency Exchange rate (AUD/ USD) 0.715 $136.2
Europe Biotechs Industry PE Ratio Median Figure of 30 Publicly-Listed Biotechs Companies 22.53x
Germany Market PE Ratio Median Figure of 421 Publicly-Listed Companies 19.69x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of CSL.

DB:CSJA PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= ASX:CSL Share Price ÷ EPS (both in USD)

= 136.2 ÷ 3.98

34.19x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • CSL is overvalued based on earnings compared to the Europe Biotechs industry average.
  • CSL is overvalued based on earnings compared to the Germany market.
Price based on expected Growth
Does CSL's expected growth come at a high price?
Raw Data
DB:CSJA PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 34.19x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 12 Analysts
9.1%per year
Europe Biotechs Industry PEG Ratio Median Figure of 22 Publicly-Listed Biotechs Companies 1.31x
Germany Market PEG Ratio Median Figure of 270 Publicly-Listed Companies 1.58x

*Line of best fit is calculated by linear regression .

DB:CSJA PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 34.19x ÷ 9.1%

3.74x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • CSL is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on CSL's assets?
Raw Data
DB:CSJA PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-12-31) in USD $10.71
ASX:CSL Share Price * ASX (2019-04-18) in AUD A$190.51
ASX:CSL Share Price converted to USD reporting currency Exchange rate (AUD/ USD) 0.715 $136.2
Germany Biotechs Industry PB Ratio Median Figure of 15 Publicly-Listed Biotechs Companies 3.85x
Germany Market PB Ratio Median Figure of 570 Publicly-Listed Companies 1.87x
DB:CSJA PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= ASX:CSL Share Price ÷ Book Value per Share (both in USD)

= 136.2 ÷ 10.71

12.71x

* Primary Listing of CSL.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • CSL is overvalued based on assets compared to the DE Biotechs industry average.
X
Value checks
We assess CSL's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Biotechs industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Biotechs industry average (and greater than 0)? (1 check)
  5. CSL has a total score of 0/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

CSJA Future Performance

 How is CSL expected to perform in the next 1 to 3 years based on estimates from 12 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
9.1%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is CSL expected to grow at an attractive rate?
  • CSL's earnings growth is expected to exceed the low risk savings rate of 0.2%.
Growth vs Market Checks
  • CSL's earnings growth is positive but not above the Germany market average.
  • CSL's revenue growth is expected to exceed the Germany market average.
Annual Growth Rates Comparison
Raw Data
DB:CSJA Future Growth Rates Data Sources
Data Point Source Value (per year)
DB:CSJA Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 12 Analysts 9.1%
DB:CSJA Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 12 Analysts 7.1%
Germany Biotechs Industry Earnings Growth Rate Market Cap Weighted Average 47.4%
Germany Biotechs Industry Revenue Growth Rate Market Cap Weighted Average 26.1%
Germany Market Earnings Growth Rate Market Cap Weighted Average 11.7%
Germany Market Revenue Growth Rate Market Cap Weighted Average 4.8%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
DB:CSJA Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 12 Analyst Estimates (S&P Global) See Below
All numbers in USD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
DB:CSJA Future Estimates Data
Date (Data in USD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2023-06-30 11,531 2,724 1
2022-06-30 10,686 2,723 2,549 2
2021-06-30 9,821 2,484 2,329 10
2020-06-30 9,208 2,297 2,142 12
2019-06-30 8,555 1,957 1,920 12
DB:CSJA Past Financials Data
Date (Data in USD Millions) Revenue Cash Flow Net Income *
2018-12-31 8,274 1,597 1,803
2018-09-30 8,094 1,750 1,766
2018-06-30 7,915 1,902 1,729
2018-03-31 7,666 1,662 1,674
2017-12-31 7,417 1,422 1,618
2017-09-30 7,182 1,335 1,478
2017-06-30 6,947 1,247 1,337
2017-03-31 6,802 1,192 1,333
2016-12-31 6,656 1,138 1,329
2016-09-30 6,386 1,158 1,286
2016-06-30 6,115 1,179 1,242
2016-03-31 5,983 1,296 1,324

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • CSL's earnings are expected to grow by 9.1% yearly, however this is not considered high growth (20% yearly).
  • CSL's revenue is expected to grow by 7.1% yearly, however this is not considered high growth (20% yearly).
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
DB:CSJA Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 12 Analyst Estimates (S&P Global) See Below

All data from CSL Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:CSJA Future Estimates Data
Date (Data in USD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2023-06-30 6.06 6.06 6.06 1.00
2022-06-30 5.63 5.63 5.63 2.00
2021-06-30 5.14 5.54 4.84 7.00
2020-06-30 4.73 4.97 4.51 9.00
2019-06-30 4.24 4.35 4.14 9.00
DB:CSJA Past Financials Data
Date (Data in USD Millions) EPS *
2018-12-31 3.98
2018-09-30 3.90
2018-06-30 3.82
2018-03-31 3.69
2017-12-31 3.57
2017-09-30 3.25
2017-06-30 2.94
2017-03-31 2.92
2016-12-31 2.90
2016-09-30 2.80
2016-06-30 2.69
2016-03-31 2.85

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • CSL is expected to efficiently use shareholders’ funds in the future (Return on Equity greater than 20%).
X
Future performance checks
We assess CSL's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the Germany market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Germany market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
CSL has a total score of 3/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

CSJA Past Performance

  How has CSL performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare CSL's growth in the last year to its industry (Biotechs).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • CSL's year on year earnings growth rate has been positive over the past 5 years.
  • CSL's 1-year earnings growth exceeds its 5-year average (11.4% vs 6.4%)
  • CSL's earnings growth has not exceeded the Europe Biotechs industry average in the past year (11.4% vs 18.2%).
Earnings and Revenue History
CSL's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from CSL Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:CSJA Past Revenue, Cash Flow and Net Income Data
Date (Data in USD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2018-12-31 8,273.50 1,803.30 1,440.90 750.50
2018-09-30 8,094.40 1,766.10 1,370.95 726.45
2018-06-30 7,915.30 1,728.90 1,301.00 702.40
2018-03-31 7,666.20 1,673.55 1,250.70 712.60
2017-12-31 7,417.10 1,618.20 1,200.40 722.80
2017-09-30 7,182.05 1,477.80 1,191.10 694.85
2017-06-30 6,947.00 1,337.40 1,181.80 666.90
2017-03-31 6,801.55 1,333.25 1,118.45 641.90
2016-12-31 6,656.10 1,329.10 1,055.10 616.90
2016-09-30 6,385.70 1,285.75 1,033.15 615.35
2016-06-30 6,115.30 1,242.40 1,011.20 613.80
2016-03-31 5,982.75 1,324.00 954.05 563.50
2015-12-31 5,850.20 1,405.60 896.90 513.20
2015-09-30 5,654.40 1,392.30 841.35 487.95
2015-06-30 5,458.60 1,379.00 785.80 462.70
2015-03-31 5,481.65 1,366.25 767.65 466.60
2014-12-31 5,504.70 1,353.50 749.50 470.50
2014-09-30 5,419.75 1,330.25 773.05 468.45
2014-06-30 5,334.80 1,307.00 796.60 466.40
2014-03-31 5,188.55 1,269.75 803.30 466.15
2013-12-31 5,042.30 1,232.50 810.00 465.90
2013-09-30 4,996.35 1,221.95 806.15 446.35
2013-06-30 4,950.40 1,211.40 802.30 426.80
2013-03-31 4,862.55 1,177.80 795.15 409.65
2012-12-31 4,774.70 1,144.20 788.00 392.50
2012-09-30 4,695.55 1,084.05 765.75 381.10
2012-06-30 4,616.40 1,023.90 743.50 369.70

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • CSL has efficiently used shareholders’ funds last year (Return on Equity greater than 20%).
  • CSL used its assets more efficiently than the Europe Biotechs industry average last year based on Return on Assets.
  • CSL's use of capital has not improved over the past 3 years (Return on Capital Employed).
X
Past performance checks
We assess CSL's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Biotechs industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
CSL has a total score of 4/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

CSJA Health

 How is CSL's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up CSL's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • CSL is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • CSL's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of CSL's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • High level of physical assets or inventory.
  • Debt is covered by short term assets, assets are 1.2x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from CSL Company Filings, last reported 3 months ago.

DB:CSJA Past Debt and Equity Data
Date (Data in USD Millions) Total Equity Total Debt Cash & Short Term Investments
2018-12-31 4,852.10 4,648.50 668.70
2018-09-30 4,852.10 4,648.50 668.70
2018-06-30 4,079.90 4,386.30 816.30
2018-03-31 4,079.90 4,386.30 816.30
2017-12-31 3,843.00 4,452.90 849.70
2017-09-30 3,843.00 4,452.90 849.70
2017-06-30 3,163.80 3,975.20 849.70
2017-03-31 3,163.80 3,975.20 849.70
2016-12-31 2,906.80 3,529.00 890.00
2016-09-30 2,906.80 3,529.00 890.00
2016-06-30 2,567.20 3,143.30 557.20
2016-03-31 2,567.20 3,143.30 557.20
2015-12-31 2,846.70 3,074.40 1,092.10
2015-09-30 2,846.70 3,074.40 1,092.10
2015-06-30 2,746.90 2,280.90 559.40
2015-03-31 2,746.90 2,280.90 559.40
2014-12-31 2,998.10 2,330.10 1,060.90
2014-09-30 2,998.10 2,330.10 1,060.90
2014-06-30 3,162.00 1,890.30 609.00
2014-03-31 3,162.00 1,890.30 609.00
2013-12-31 3,292.60 1,791.90 696.90
2013-09-30 3,292.60 1,791.90 696.90
2013-06-30 3,017.70 1,678.90 762.70
2013-03-31 3,017.70 1,678.90 762.70
2012-12-31 3,511.70 1,127.80 758.60
2012-09-30 3,511.70 1,127.80 758.60
2012-06-30 3,476.70 1,289.60 1,173.20
  • CSL's level of debt (95.8%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (54.5% vs 95.8% today).
  • Debt is well covered by operating cash flow (34.4%, greater than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 23.4x coverage).
X
Financial health checks
We assess CSL's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. CSL has a total score of 4/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

CSJA Dividends

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

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
1.31%
Current annual income from CSL dividends. Estimated to be 1.55% next year.
If you bought €2,000 of CSL shares you are expected to receive €26 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • CSL's pays a lower dividend yield than the bottom 25% of dividend payers in Germany (1.44%).
  • CSL's dividend is below the markets top 25% of dividend payers in Germany (3.74%).
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
DB:CSJA Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 12 Analyst Estimates (S&P Global) See Below
Europe Biotechs Industry Average Dividend Yield Market Cap Weighted Average of 9 Stocks 0.9%
Germany Market Average Dividend Yield Market Cap Weighted Average of 324 Stocks 3%
Germany Minimum Threshold Dividend Yield 10th Percentile 0.9%
Germany Bottom 25% Dividend Yield 25th Percentile 1.4%
Germany Top 25% Dividend Yield 75th Percentile 3.7%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

DB:CSJA Future Dividends Estimate Data
Date (Data in $) Dividend per Share (annual) Avg. No. Analysts
2023-06-30 2.82 1.00
2022-06-30 2.43 2.00
2021-06-30 2.28 11.00
2020-06-30 2.09 13.00
2019-06-30 1.86 13.00
DB:CSJA Past Annualized Dividends Data
Date (Data in $) Dividend per share (annual) Avg. Yield (%)
2019-02-12 1.780 1.289
2018-08-14 1.860 1.334
2018-02-13 1.510 1.126
2017-08-15 1.360 1.256
2016-08-16 1.260 1.449
2016-02-15 1.240 1.531
2015-08-11 1.240 1.803
2014-09-05 1.297 1.869
2014-08-12 1.200 1.777
2014-02-11 1.060 1.660
2013-09-05 0.992 1.690
2013-08-13 1.020 1.695
2013-02-13 0.850 1.566
2012-08-21 0.845 1.700
2011-08-17 0.755 2.408
2010-08-18 0.704 2.358
2010-02-17 0.612 2.219
2009-08-19 0.661 2.498
2009-04-20 0.422 1.926

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Dividends per share have been stable in the past 10 years.
  • Dividends per share have increased over the past 10 years.
Current Payout to shareholders
What portion of CSL's earnings are paid to the shareholders as a dividend.
  • Dividends paid are well covered by earnings (2.2x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be well covered by earnings (2.3x coverage).
X
Income/ dividend checks
We assess CSL's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.9%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can CSL afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. CSL has a total score of 4/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

CSJA Management

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

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Paul Perreault
COMPENSATION $11,266,445
AGE 61
TENURE AS CEO 5.8 years
CEO Bio

Mr. Paul R. Perreault, BA (Psychology) has been the Chief Executive Officer and Managing Director of CSL Limited since July 1, 2013. Mr. Perreault serves as the Chief Executive Officer and Managing Director of CSL Behring LLC. He has more than 30 years of healthcare industry experience. He served as the President of CSL Behring UK Limited. He was responsible for all sales, marketing and commercial development activities at CSL Behring. Mr. Perreault served as an Executive Vice President of Commercial Operations at CSL Biotherapies, Inc. He served as the President of CSL Behring GmbH at CSL Ltd. since July 1, 2011. Mr. Perreault served as the President of CSL Behring LLC. He served as an Executive Vice President of Commercial Operations at CSL Ltd. Mr. Perreault served as an Executive Vice President of Worldwide Commercial Operations of CSL Behring LLC. Previously, he served as Vice President and General Manager of the U.S. Commercial Operations at CSL Behring LLC and was responsible for all sales, marketing, medical affairs, training and development, compliance and HR activities within the territory. He joined a CSL predecessor company in 1997 and has held senior roles in sales, marketing and operations. Prior to CSL Behring, he served as Vice President and General Manager of Plasma Operations of Aventis Bio-Services, where he oversaw all plasma operations and compliance initiatives at 79 plasma collection centers in the United States. He managed the Environmental Health and Safety team and the Corporate Marketing Department. Additionally, he served as Vice President and General Manager of the Aventis Behring Hospital Products Business Unit in North America and Puerto Rico. He worked for Wyeth-Ayerst Laboratories for 16 years in various key positions, including Area Business Director, Manager of Marketing Programs and District Sales Manager. He served at Centeon. He has been an Executive Director of CSL Limited since February 13, 2013. He was previously Chairman of the Global Board for the Plasma Protein Therapeutics Association. Mr. Perreault holds BA in Psychology from the University of Central Florida and completed advanced business management training at the Kellogg and Wharton schools of business. He also completed the CSL Executive Leadership program.

CEO Compensation
  • Paul's compensation has increased by more than 20% in the past year.
  • Paul's remuneration is higher than average for companies of similar size in Germany.
Management Team Tenure

Average tenure and age of the CSL management team in years:

3.8
Average Tenure
59
Average Age
  • The tenure for the CSL management team is about average.
Management Team

Paul Perreault

TITLE
MD, CEO & Executive Director
COMPENSATION
$11M
AGE
61
TENURE
5.8 yrs

David Lamont

TITLE
Chief Financial Officer
COMPENSATION
$3M
AGE
52
TENURE
3.3 yrs

Robert Cuthbertson

TITLE
Chief Scientific Officer & Director of R&D and Director
COMPENSATION
$3M
AGE
63
TENURE
19.3 yrs

Greg Boss

TITLE
Executive VP of Legal & Group General Counsel
COMPENSATION
$2M
AGE
57

Elizabeth Walker

TITLE
Executive VP & Chief Human Resources Officer
COMPENSATION
$869K
AGE
48
TENURE
1.3 yrs

Karen Etchberger

TITLE
Executive Vice President of Quality & Business Services
COMPENSATION
$2M
AGE
60
TENURE
9 yrs

Val Romberg

TITLE
Executive Vice President of Manufacturing & Planning
COMPENSATION
$3M
AGE
60
TENURE
4.3 yrs

Bill Campbell

TITLE
Executive VP & Chief Commercial Officer
COMPENSATION
$2M
AGE
59
TENURE
1.6 yrs

Gordon Naylor

TITLE
President of Seqirus
COMPENSATION
$4M
AGE
55
TENURE
3.3 yrs

Mark Dehring

TITLE
Vice President of Investor Relations
Board of Directors Tenure

Average tenure and age of the CSL board of directors in years:

3.2
Average Tenure
61
Average Age
  • The tenure for the CSL board of directors is about average.
Board of Directors

Brian McNamee

TITLE
Chairman
COMPENSATION
$70K
AGE
61
TENURE
0.5 yrs

Paul Perreault

TITLE
MD, CEO & Executive Director
COMPENSATION
$11M
AGE
61
TENURE
6.2 yrs

Robert Cuthbertson

TITLE
Chief Scientific Officer & Director of R&D and Director
COMPENSATION
$3M
AGE
63
TENURE
0.5 yrs

Bruce Brook

TITLE
Independent Non-Executive Director
COMPENSATION
$206K
AGE
63
TENURE
7.7 yrs

Megan Clark

TITLE
Non Executive Director
COMPENSATION
$213K
AGE
59
TENURE
3.2 yrs

Christine O’Reilly

TITLE
Independent Non-Executive Director
COMPENSATION
$208K
AGE
57
TENURE
8.2 yrs

Marie McDonald

TITLE
Independent Non-Executive Director
COMPENSATION
$194K
AGE
62
TENURE
5.7 yrs

Tadataka Yamada

TITLE
Non Executive Director
COMPENSATION
$186K
AGE
72
TENURE
2.6 yrs

Shah Hussain

TITLE
Non Executive Director
COMPENSATION
$78K
AGE
53
TENURE
1.2 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (€) Value (€)
X
Management checks
We assess CSL's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. CSL has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

CSJA News

Simply Wall St News

CSJA Company Info

Description

CSL Limited researches, develops, manufactures, markets, and distributes biopharmaceutical and allied products in Australia, the United States, Germany, the United Kingdom, Switzerland, China, and internationally. The company operates through two segments, CSL Behring and Seqirus. The CSL Behring segment offers plasma therapies for the treatment of immunodeficiency, bleeding disorders, hereditary angioedema, Alpha-1 antitrypsin deficiency, and neurological disorders. It also operates approximately 140 plasma collection centers. In addition, this segment conducts research on plasma and non-plasma therapies; and receives license and royalty from the commercialization of intellectual property. The Seqirus segment manufactures and distributes non-plasma biotherapeutic products; and developsinfluenza vaccines. CSL Limited was founded in 1916 and is headquartered in Parkville, Australia.

Details
Name: CSL Limited
CSJA
Exchange: DB
Founded: 1916
A$54,897,424,772
453,101,025
Website: http://www.csl.com
Address: CSL Limited
45 Poplar Road,
Parkville,
Victoria, 3052,
Australia
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
ASX CSL Ordinary Shares Australian Securities Exchange AU AUD 02. Jun 1994
OTCPK CMXH.F Ordinary Shares Pink Sheets LLC US USD 02. Jun 1994
DB CSJ Ordinary Shares Deutsche Boerse AG DE EUR 02. Jun 1994
CHIA CSL Ordinary Shares Chi-X Australia AU AUD 02. Jun 1994
OTCPK CSLL.Y SPONSORED ADR Pink Sheets LLC US USD 16. Oct 2008
DB CSJA SPONSORED ADR Deutsche Boerse AG DE EUR 16. Oct 2008
Number of employees
Current staff
Staff numbers
0
CSL employees.
Industry
Biotechnology
Pharmaceuticals & Biotech
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/04/18 22:12
End of day share price update: 2019/04/18 00:00
Last estimates confirmation: 2019/04/17
Last earnings filing: 2019/02/12
Last earnings reported: 2018/12/31
Last annual earnings reported: 2018/06/30


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

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.