CSL LIMITED (CSL)
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CSL

CSL - CSL LIMITED

FNArena Sector : Pharmaceuticals & Biotech/Lifesciences
Year End: June
GICS Industry Group : Pharmaceuticals, Biotechnology & Life Sciences
Debt/EBITDA: 2.25
Index: ASX20 | ASX50 | ASX100 | ASX200 | ASX300 | ALL-ORDS

CSL is a global biotechnology company that researches, develops, manufactures and markets products for the treatment of human diseases. With a market cap of over $138bn it is one of Australia's top three largest index weights. The former Commonwealth Serum Laboratory listed in June 1994 and has generated an average annual return of 28% since (up until mid-2020). CSL is the world's largest collector of plasma and the second largest producer of vaccines.

LAST PRICE CHANGE +/- CHANGE % VOLUME

$171.39

10 Feb
2026

-8.980

OPEN

$181.90

-4.98%

HIGH

$184.34

1,044,408

LOW

$171.39

TARGET
$227.359 32.7% upside
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FNARENA'S MARKET CONSENSUS FORECASTS
CSL: 1
Title FY26
Forecast		 FY27
Forecast
EPS (cps) 1034.8 xxx
DPS (cps) 496.4 xxx
EPS Growth N/A xxx
DPS Growth N/A xxx
PE Ratio 15.8 xxx
Dividend Yield 3.0% xxx
Div Pay Ratio(%) 48.0% xxx
This company reports in USD.
All estimates have been converted into AUD by FNArena at present FX values.

Dividend yield today if purchased 3 years ago: 1.35%

DIVIDEND YIELD CALCULATOR

Dividend Yield Today On Last Actual Payout :

 2.51

Estimated Dividend Growth
(Average Of Past Three Years)

  %

Amount Invested

 $ 

Tell Me The Dividend After This Many Years
Past performance is no guarantee for the future. Investors should take into account that heavy swings in share price or exceptional circumstances (a la 2009) can have a significant impact on short term calculations and averages

Last ex-div: 09/09 - (franking ex-di

HISTORICAL DATA ARE ALL IN AUD
Copyright © 2026 FactSet UK Limited. All rights reserved
Title 202020212022202320242025
EPS Basic 691.1700.2663.2691.8834.6957.6
DPS All 294.1293.9318.1362.9397.4452.2
Sales/Revenue 13,575.3 M13,765.9 M14,467.5 M19,583.6 M22,414.6 M23,825.3 M
Book Value Per Share 2,088.02,452.94,400.84,916.45,379.96,093.1
Net Operating Cash Flow 3,711.8 M4,857.0 M3,624.4 M3,866.5 M4,217.4 M5,498.5 M
Net Profit Margin 23.10 %23.14 %21.49 %17.03 %17.99 %19.46 %

EPS Basic

DPS All

Sales/Revenue

Book Value Per Share

Net Operating Cash Flow

Net Profit Margin

Title 202020212022202320242025
Return on Capital Employed 36.98 %30.85 %19.21 %14.85 %16.22 %16.70 %
Return on Invested Capital 19.96 %17.62 %13.24 %9.64 %9.68 %10.46 %
Return on Assets 15.68 %13.66 %9.51 %6.97 %7.24 %7.92 %
Return on Equity 36.98 %30.85 %19.21 %14.85 %16.22 %16.70 %
Return on Total Capital 24.62 %22.31 %14.56 %10.85 %12.22 %12.77 %
Free Cash Flow ex dividends 594.3 M1,968.1 M704.8 M428.1 M1,103.2 M2,456.6 M

Return on Capital Employed

Return on Invested Capital

Return on Assets

Return on Equity

Return on Total Capital

Free Cash Flow ex dividends

Title 202020212022202320242025
Short-Term Debt 294 M631 M6,535 M1,585 M1,413 M1,227 M
Long Term Debt 8,410 M7,104 M7,509 M16,784 M16,829 M16,318 M
Total Debt 8,704 M7,735 M14,045 M18,369 M18,242 M17,545 M
Goodwill - Gross 1,676 M1,583 M1,727 M12,137 M12,097 M12,306 M
Cash & Equivalents - Generic 1,735 M2,409 M15,177 M2,326 M2,481 M3,291 M
Price To Book Value 13.7511.636.115.645.493.93

Short-Term Debt

Long Term Debt

Total Debt

Goodwill - Gross

Cash & Equivalents - Generic

Price To Book Value

Title 202020212022202320242025
Capex 2,040.1 M2,235.6 M1,720.3 M2,515.2 M1,919.5 M1,541.0 M
Capex % of Sales 15.03 %16.24 %11.89 %12.84 %8.56 %6.47 %
Cost of Goods Sold 5,962 M6,119 M6,792 M10,119 M11,503 M12,186 M
Selling, General & Admin. Exp & Other 3,636 M3,510 M3,734 M5,105 M5,263 M5,415 M
Research & Development 1,375 M1,343 M1,594 M1,836 M2,182 M2,098 M
Investments - Total 21 M29 M586 M260 M244 M310 M

Capex

Capex % of Sales

Cost of Goods Sold

Selling, General & Admin. Exp & Other

Research & Development

Investments - Total

EXPERT VIEWS
Display All Commentary

Sentiment Indicator

0.6

No. Of Recommendations

7
BROKER DATE RATING RECOMMENDATION TARGET PRICE % TO REACH TARGET COMMENTARY

Macquarie

xx/xx/xxxx

3

xxxxxxx

$xx.xx

xx.xx%

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Citi

xx/xx/xxxx

1

xxx

$xx.xx

xx.xx%

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Bell Potter

xx/xx/xxxx

3

xxxx

$xx.xx

xx.xx%

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Morgan Stanley

27/01/2026

1

Overweight

$242.00

41.20%

Morgan Stanley lowers the target price on CSL ahead of the reporting season to $242 from $256.

The broker notes the 1H26 NPATA forecast is -3% below consensus, with more conservative assumptions for IG and albumin and lower Behring margins.

Overweight rating retained. Industry View: In-Line.

FORECAST
Morgan Stanley forecasts a full year FY26 dividend of 472.90 cents and EPS of 827.58 cents.
Morgan Stanley forecasts a full year FY27 dividend of 488.25 cents and EPS of 1110.09 cents.

Ord Minnett

xx/xx/xxxx

3

xxxx

$xx.xx

xx.xx%

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UBS

xx/xx/xxxx

1

xxx

$xx.xx

xx.xx%

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Morgans

xx/xx/xxxx

1

xxx

$xx.xx

xx.xx%

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Access Stockbroker Research History >
EXTRA COVERAGE
Display All Commentary

No. Of Recommendations

2

Please note: unlike Broker Call Report, BC Extra is not updated daily. The info you see might not be the latest. FNArena does its best to update ASAP.

BROKER DATE RATING RECOMMENDATION TARGET PRICE % TO REACH TARGET COMMENTARY

Jarden

xx/xx/xxxx

2

xxxxxxxxxx

$xx.xx

xx.xx%

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Canaccord Genuity

29/10/2025

3

Hold

$230.00

34.20%

The following was issued before CSL's AGM earnings guidance downgrade on Oct 28.

Canaccord Genuity believes the recent de-rating in CSL’s valuation may be easing, with the stock now trading below its five-year confidence range.

The broker identifies Andembry as a potential valuation catalyst given strong early data in hereditary angioedema, suggesting it could reshape Behring’s P&L as sales scale.

Gross margin recovery is expected through the Horizon I & II plasma process improvements, which could lift yields by up to 20% and expand margins by 160–530bps.

Target lifted to $230 from $227.50. Hold rating.

FORECAST
Canaccord Genuity forecasts a full year FY26 dividend of 468.29 cents and EPS of 1072.01 cents.
Canaccord Genuity forecasts a full year FY27 dividend of 503.61 cents and EPS of 1168.43 cents.
Access Extra Coverage Research History >

CSL STOCK CHART

FNArena News on CSL

1
Rudi’s View: Woolies, CSL, Macquarie (& More)

Feb 05 2026 - Rudi's View
2
January In Review: Resources Rocket, Tech Tanks

Feb 04 2026 - Australia
3
Rudi’s View: Many February Uncertainties

Feb 04 2026 - Rudi's View
4
Rudi’s View: February Favourites & Avoids

Jan 29 2026 - Rudi's View
5
Rudi’s View: Key Picks & Sector Favourites

Jan 22 2026 - Rudi's View

Latest Pharmaceuticals & Biotech/Lifesciences News

1
Focus On Telix’ Guidance Post Annus Horribilis

Jan 22 2026 - Australia
2
Anti-Vaxxers & China Cloud CSL’s Future

Oct 31 2025 - Australia
3
Rudi Interviewed: Diary Of A Successful Investor

Oct 20 2025 - Rudi's View
4
Is CSL Starting Its Price Recovery?

Sep 30 2025 - Technicals
5
Undervalued ASX Gems In Precision Medicine

Sep 23 2025 - Small Caps
6
Earnings Result Leaves CSL Bloodied

Aug 21 2025 - Australia
7
Renewed Momentum For CSL Shares

Jul 22 2025 - Technicals
8
Treasure Chest: CSL Not A One-Trick Pony

Jul 14 2025 - Treasure Chest
9
The Enigma Surrounding Clinuvel

Jul 03 2025 - Small Caps
10
Rudi’s View: CSL & NextDC

May 08 2025 - Rudi's View