CODAN LIMITED |
Delayed
Other stock markets
|
5-day change | 1st Jan Change | ||
| 10.91 AUD | -0.82% |
|
-0.73% | +27.60% |
| 21/02 | Codan Shares Rise Nearly 11% as H1 FY24 Revenue Grows 26%, Profit Jumps | MT |
| 21/02 | Transcript : Codan Limited, H1 2024 Earnings Call, Feb 21, 2024 |
Valuation
| Fiscal Period: June | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Capitalization 1 | 621.9 | 1,276 | 3,255 | 1,259 | 1,455 | 1,994 | - | - |
| Enterprise Value (EV) 1 | 584.4 | 1,210 | 3,281 | 1,288 | 1,506 | 2,058 | 2,036 | 2,003 |
| P/E ratio | 13.7 x | 20.1 x | 36.2 x | 12.5 x | 21.4 x | 25.3 x | 21 x | 17.8 x |
| Yield | 3.75% | 2.61% | 1.5% | 4.02% | 2.3% | 1.7% | 1.97% | 2.32% |
| Capitalization / Revenue | 2.3 x | 3.67 x | 7.45 x | 2.49 x | 3.19 x | 3.67 x | 3.33 x | 3.05 x |
| EV / Revenue | 2.16 x | 3.48 x | 7.51 x | 2.55 x | 3.3 x | 3.79 x | 3.39 x | 3.06 x |
| EV / EBITDA | 7.44 x | 10.3 x | 20.7 x | 7.95 x | 12.9 x | 14.1 x | 12 x | 10.3 x |
| EV / FCF | 16 x | 14.2 x | 30.2 x | 71.3 x | 47.3 x | 43.7 x | 29.4 x | 23.7 x |
| FCF Yield | 6.23% | 7.02% | 3.31% | 1.4% | 2.11% | 2.29% | 3.41% | 4.21% |
| Price to Book | - | 5.16 x | 10.7 x | 3.42 x | 3.58 x | 4.48 x | 3.96 x | 3.47 x |
| Nbr of stocks (in thousands) | 1,79,228 | 1,79,993 | 1,80,506 | 1,80,884 | 1,81,168 | 1,81,316 | - | - |
| Reference price 2 | 3.470 | 7.090 | 18.03 | 6.960 | 8.030 | 11.00 | 11.00 | 11.00 |
| Announcement Date | 25/08/19 | 19/08/20 | 18/08/21 | 17/08/22 | 27/08/23 | - | - | - |
1AUD in Million2AUD
Estimates
Income Statement Evolution (Annual data)
| Fiscal Period: June | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 270.8 | 348 | 437 | 506.1 | 456.5 | 543.1 | 599.8 | 653.5 |
| EBITDA 1 | 78.6 | 117.8 | 158.8 | 162 | 116.8 | 146.2 | 170.3 | 193.9 |
| EBIT 1 | 63.4 | 89.6 | 139.8 | 137.4 | 88 | 112.8 | 134.3 | 155.5 |
| Operating Margin | 23.41% | 25.75% | 31.99% | 27.15% | 19.28% | 20.76% | 22.4% | 23.8% |
| Earnings before Tax (EBT) 1 | 63.3 | 89.02 | 130.8 | 135.7 | 82.6 | 105.2 | 125.9 | 148.2 |
| Net income 1 | 45.7 | 63.8 | 90.2 | 100.5 | 67.7 | 78.07 | 95.15 | 112 |
| Net margin | 16.88% | 18.33% | 20.64% | 19.86% | 14.83% | 14.38% | 15.86% | 17.14% |
| EPS 2 | 0.2530 | 0.3530 | 0.4980 | 0.5560 | 0.3750 | 0.4351 | 0.5241 | 0.6169 |
| Free Cash Flow 1 | 36.42 | 84.97 | 108.6 | 18.06 | 31.85 | 47.14 | 69.34 | 84.38 |
| FCF margin | 13.45% | 24.42% | 24.85% | 3.57% | 6.98% | 8.68% | 11.56% | 12.91% |
| FCF Conversion (EBITDA) | 46.33% | 72.13% | 68.38% | 11.15% | 27.27% | 32.24% | 40.71% | 43.52% |
| FCF Conversion (Net income) | 79.68% | 133.19% | 120.4% | 17.97% | 47.04% | 60.38% | 72.87% | 75.35% |
| Dividend per Share 2 | 0.1300 | 0.1850 | 0.2700 | 0.2800 | 0.1850 | 0.1872 | 0.2169 | 0.2550 |
| Announcement Date | 25/08/19 | 19/08/20 | 18/08/21 | 17/08/22 | 27/08/23 | - | - | - |
1AUD in Million2AUD
Estimates
Income Statement Evolution (Quarterly data)
| Fiscal Period: June | 2020 S1 | 2020 S2 | 2021 S1 | 2021 S2 | 2022 S1 | 2022 S2 | 2023 S1 | 2023 S2 | 2024 S1 | 2024 S2 |
|---|---|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 171 | 177 | 194.5 | 242.6 | 256.8 | 249.4 | 211.8 | 244.7 | 265.9 | 242.6 |
| EBITDA 1 | 54 | 63.8 | 69.3 | 89.5 | 83.1 | 78.9 | 55.2 | 61.6 | - | 55 |
| EBIT | - | 45.9 | 60.7 | - | - | - | - | - | - | - |
| Operating Margin | - | 25.93% | 31.21% | - | - | - | - | - | - | - |
| Earnings before Tax (EBT) | - | 45.61 | 60.52 | 70.3 | 69.2 | 66.46 | 39.5 | 43.1 | 49.8 | - |
| Net income | 30.4 | 33.39 | 41.29 | 48.91 | 50.01 | 50.52 | 30.92 | 36.78 | - | - |
| Net margin | 17.78% | 18.86% | 21.23% | 20.16% | 19.48% | 20.26% | 14.6% | 15.03% | - | - |
| EPS | 0.1680 | 0.1850 | 0.2280 | 0.2700 | 0.2760 | 0.2800 | 0.1710 | 0.2040 | - | - |
| Dividend per Share 2 | 0.0750 | 0.1100 | 0.1050 | 0.1650 | 0.1300 | 0.1500 | 0.0900 | 0.0950 | - | 0.1050 |
| Announcement Date | 19/02/20 | 19/08/20 | 17/02/21 | 18/08/21 | 16/02/22 | 17/08/22 | 15/02/23 | 27/08/23 | 20/02/24 | - |
1AUD in Million2AUD
Estimates
Balance Sheet Analysis
| Fiscal Period: June | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net Debt 1 | - | - | 26.8 | 29.4 | 51.7 | 63.5 | 41.2 | 8.13 |
| Net Cash position 1 | 37.5 | 66.1 | - | - | - | - | - | - |
| Leverage (Debt/EBITDA) | - | - | 0.1688 x | 0.1814 x | 0.4428 x | 0.4343 x | 0.2422 x | 0.0419 x |
| Free Cash Flow 1 | 36.4 | 85 | 109 | 18.1 | 31.8 | 47.1 | 69.3 | 84.4 |
| ROE (net income / shareholders' equity) | 22.9% | 27.8% | 36% | 30% | 17.5% | 18.7% | 20.3% | 21.4% |
| ROA (Net income/ Total Assets) | 17.3% | 20.4% | 22.8% | 18.4% | 10.6% | 13.6% | 15.1% | 16.6% |
| Assets 1 | 264.5 | 312.9 | 396.4 | 546.9 | 641.4 | 573.7 | 628.8 | 675 |
| Book Value Per Share 2 | - | 1.370 | 1.680 | 2.040 | 2.240 | 2.450 | 2.780 | 3.170 |
| Cash Flow per Share 2 | 0.3400 | 0.5700 | 0.7200 | 0.2900 | 0.4400 | 0.5700 | 0.6600 | 0.7700 |
| Capex 1 | 20.5 | 19 | 22.7 | 33.7 | 48 | 44.6 | 47.6 | 49.7 |
| Capex / Sales | 7.55% | 5.46% | 5.2% | 6.65% | 10.52% | 8.21% | 7.94% | 7.6% |
| Announcement Date | 25/08/19 | 19/08/20 | 18/08/21 | 17/08/22 | 27/08/23 | - | - | - |
1AUD in Million2AUD
Estimates
EPS & Dividend
Year-on-year evolution of the PER
Year-on-year evolution of the Yield
Change in Enterprise Value/EBITDA
Trading Rating
Investor Rating
ESG Refinitiv
C
Sell
Buy
Mean consensus
BUY
Number of Analysts
4
Last Close Price
11
AUD
Average target price
10.58
AUD
Spread / Average Target
-3.86%
EPS Revisions
| 1st Jan change | Capi. | |
|---|---|---|
| +27.60% | 1.31B | |
| +12.07% | 108B | |
| -0.37% | 29.6B | |
| +11.28% | 22.08B | |
| -14.21% | 18.16B | |
| -6.58% | 17.33B | |
| +9.76% | 15.42B | |
| -4.10% | 12.3B | |
| -1.97% | 10.6B | |
| -4.98% | 9.43B |
- Stock Market
- Equities
- CDA Stock
- Financials Codan Limited
