CODAN LIMITED (CDA)
Share Price Analysis and Chart

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CDA - CODAN LIMITED

FNArena Sector : Hardware & Equipment
Year End: June
GICS Industry Group : Technology Hardware & Equipment
Debt/EBITDA: 0.96
Index: ASX200 | ASX300 | ALL-ORDS | ALL-TECH

Codan is an Australian manufacturer and supplier of communications, metal detection and mining technology. Founded in 1959, the company listed on the ASX in 2003. Its core clientele are gold prospectors in Africa.

LAST PRICE CHANGE +/- CHANGE % VOLUME

$15.77

20 Nov
2024

-0.120

OPEN

$15.78

-0.76%

HIGH

$15.86

116,093

LOW

$15.61

TARGET
$15.90 0.8% upside
Franking for last dividend paid out: 100%
OTHER COMPANIES IN THE SAME SECTOR
4DS . AD8 . AKP . AVA . BLG . CYG . DDR . DRO . EOS . HTG . IKE . SEN . SLX . SPZ . TZL . WBT .
FNARENA'S MARKET CONSENSUS FORECASTS
CDA: 1
Title FY23
Actual		 FY24
Actual		 FY25
Forecast		 FY26
Forecast
EPS (cps) xxx 45.0 53.3 xxx
DPS (cps) xxx 22.5 25.4 xxx
EPS Growth xxx 20.0% 18.7% xxx
DPS Growth xxx 21.6% 12.7% xxx
PE Ratio xxx N/A 29.8 xxx
Dividend Yield xxx N/A 1.6% xxx
Div Pay Ratio(%) xxx 50.1% 47.5% xxx

Dividend yield today if purchased 3 years ago: 2.23%

DIVIDEND YIELD CALCULATOR

Dividend Yield Today On Last Actual Payout :

 1.42

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: 03/09 - ex-div 12c (franking 100%)

HISTORICAL DATA ARE ALL IN AUD
Copyright © 2024 FactSet UK Limited. All rights reserved
Title 201920202021202220232024
EPS Basic xxxxxxxxxxxxxxx45.0
DPS All xxxxxxxxxxxxxxx22.5
Sales/Revenue xxxxxxxxxxxxxxx550.5 M
Book Value Per Share xxxxxxxxxxxxxxx246.7
Net Operating Cash Flow xxxxxxxxxxxxxxx106.5 M
Net Profit Margin xxxxxxxxxxxxxxx14.79 %

EPS Basic

DPS All

Sales/Revenue

Book Value Per Share

Net Operating Cash Flow

Net Profit Margin

Title 201920202021202220232024
Return on Capital Employed xxxxxxxxxxxxxxx19.06 %
Return on Invested Capital xxxxxxxxxxxxxxx14.69 %
Return on Assets xxxxxxxxxxxxxxx11.13 %
Return on Equity xxxxxxxxxxxxxxx19.06 %
Return on Total Capital xxxxxxxxxxxxxxx20.44 %
Free Cash Flow ex dividends xxxxxxxxxxxxxxx60.1 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 201920202021202220232024
Short-Term Debt xxxxxxxxxxxxxxx7 M
Long Term Debt xxxxxxxxxxxxxxx134 M
Total Debt xxxxxxxxxxxxxxx141 M
Goodwill - Gross xxxxxxxxxxxxxxx292 M
Cash & Equivalents - Generic xxxxxxxxxxxxxxx20 M
Price To Book Value xxxxxxxxxxxxxxx4.88

Short-Term Debt

Long Term Debt

Total Debt

Goodwill - Gross

Cash & Equivalents - Generic

Price To Book Value

Title 201920202021202220232024
Capex xxxxxxxxxxxxxxx50.8 M
Capex % of Sales xxxxxxxxxxxxxxx9.23 %
Cost of Goods Sold xxxxxxxxxxxxxxx281 M
Selling, General & Admin. Exp & Other xxxxxxxxxxxxxxx155 M
Research & Development xxxxxxxxxxxxxxx-
Investments - Total xxxxxxxxxxxxxxx0 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

0.3

No. Of Recommendations

3
BROKER DATE RATING RECOMMENDATION TARGET PRICE % TO REACH TARGET COMMENTARY

Bell Potter

xx/xx/xxxx

3

xxxxxxxxxx xx xxxxxxxx xxxx xxxx

$xx.xx

xx.xx%

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Macquarie

23/08/2024

3

Neutral

$14.60

-7.42%

Codan's FY24 result beat across all key line items, Macquarie notes. Earnings grew 29% supported by organic growth and the Eagle & Wave Central acquisitions.

Communications was the standout, the broker suggests, with revenue rising 19% year on year, while Metal Detection revenue grew 25%.

It was a strong result, Macquarie suggests. Codan is building a track record of Communications growth that is driving an ongoing valuation multiple re-rating. Larger M&A is a catalyst given strong discipline on strategic M&A to date.

However, post earnings upgrades the share price is near the broker's valuation. Neutral retained, target rises to $14.60 from $11.15.

FORECAST
Macquarie forecasts a full year FY25 dividend of 25.00 cents and EPS of 55.60 cents.
Macquarie forecasts a full year FY26 dividend of 29.70 cents and EPS of 66.00 cents.

UBS

xx/xx/xxxx

1

xxx

$xx.xx

xx.xx%

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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

Moelis

xx/xx/xxxx

1

xxx

$xx.xx

xx.xx%

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Canaccord Genuity

30/09/2024

1

Buy

$16.76

6.28%

Bolstering the Tactical Communications division and providing a 4% increase to Canaccord Genuity's FY26 forecast, Codan will purchase Kagwerks (SKT2 LLC dba Kagwerks) for -$33.6m.

Kagwerks is a US-based provider of tactical operator-worn networking communications technologies used in a military environment. The broker anticipates Kagwerk' DOCK platform will benefit from the greater scale, distribution and access to a larger addressable market.

The Buy rating is maintained. The target rises to $16.76 from $15.34. Codan is now a high margin earnings compounder, according to the broker, and return metrics are rapidly improving.

FORECAST
Canaccord Genuity forecasts a full year FY25 dividend of 26.00 cents and EPS of 54.00 cents.
Canaccord Genuity forecasts a full year FY26 dividend of 31.00 cents and EPS of 66.00 cents.
Access Extra Coverage Research History >

CDA STOCK CHART

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