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: 2.58
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

$258.67

21 Feb
2025

-0.220

OPEN

$262.01

-0.08%

HIGH

$261.74

1,390,778

LOW

$258.19

TARGET
$329.927 27.5% upside
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FNARENA'S MARKET CONSENSUS FORECASTS
CSL: 1
Title FY25
Forecast		 FY26
Forecast
EPS (cps) 995.6 xxx
DPS (cps) 454.7 xxx
EPS Growth N/A xxx
DPS Growth N/A xxx
PE Ratio 26.0 xxx
Dividend Yield 1.8% xxx
Div Pay Ratio(%) 45.7% 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: 1.54%

DIVIDEND YIELD CALCULATOR

Dividend Yield Today On Last Actual Payout :

 1.61

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 © 2025 FactSet UK Limited. All rights reserved
Title 201920202021202220232024
EPS Basic xxxxxxxxxxxxxxx834.7
DPS All xxxxxxxxxxxxxxx397.4
Sales/Revenue xxxxxxxxxxxxxxx22,417.6 M
Book Value Per Share xxxxxxxxxxxxxxx5,379.9
Net Operating Cash Flow xxxxxxxxxxxxxxx4,218.0 M
Net Profit Margin xxxxxxxxxxxxxxx17.99 %

EPS Basic

DPS All

Sales/Revenue

Book Value Per Share

Net Operating Cash Flow

Net Profit Margin

Title 201920202021202220232024
Return on Capital Employed xxxxxxxxxxxxxxx16.22 %
Return on Invested Capital xxxxxxxxxxxxxxx9.68 %
Return on Assets xxxxxxxxxxxxxxx7.24 %
Return on Equity xxxxxxxxxxxxxxx16.22 %
Return on Total Capital xxxxxxxxxxxxxxx12.22 %
Free Cash Flow ex dividends xxxxxxxxxxxxxxx1,103.3 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 xxxxxxxxxxxxxxx1,413 M
Long Term Debt xxxxxxxxxxxxxxx16,829 M
Total Debt xxxxxxxxxxxxxxx18,242 M
Goodwill - Gross xxxxxxxxxxxxxxx12,097 M
Cash & Equivalents - Generic xxxxxxxxxxxxxxx2,481 M
Price To Book Value xxxxxxxxxxxxxxx5.49

Short-Term Debt

Long Term Debt

Total Debt

Goodwill - Gross

Cash & Equivalents - Generic

Price To Book Value

Title 201920202021202220232024
Capex xxxxxxxxxxxxxxx1,919.8 M
Capex % of Sales xxxxxxxxxxxxxxx8.56 %
Cost of Goods Sold xxxxxxxxxxxxxxx11,505 M
Selling, General & Admin. Exp & Other xxxxxxxxxxxxxxx5,263 M
Research & Development xxxxxxxxxxxxxxx2,182 M
Investments - Total xxxxxxxxxxxxxxx244 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

1.0

No. Of Recommendations

6
BROKER DATE RATING RECOMMENDATION TARGET PRICE % TO REACH TARGET COMMENTARY

Bell Potter

xx/xx/xxxx

1

xxx

$xx.xx

xx.xx%

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Morgans

xx/xx/xxxx

1

xxx

$xx.xx

xx.xx%

Broker commentary and detailed analysis is available for Full Members Only.
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Macquarie

xx/xx/xxxx

1

xxxxxxxxxx

$xx.xx

xx.xx%

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Citi

12/02/2025

1

Buy

$335.00

29.51%

Citi maintains a Buy rating on CSL with a lower target price of $335 from $345, with management maintaining FY25 guidance despite pressure on flu vaccine sales.

The broker notes strength in Behring and Vifor was unable to offset weakness in Seqirus. Looking ahead, management retained the recovery target for Behring's gross margin to 57% by FY27-FY28 and double-digit earnings growth for the medium term.

While H5 avian flu might offer some relief for the vaccine business, Citi believes it will be a one-off. The analyst lowers EPS forecasts by -3% and -7% for FY25 and FY26.

Citi believes the stock offers good value.

FORECAST
Citi forecasts a full year FY25 dividend of 458.08 cents and EPS of 993.13 cents.
Citi forecasts a full year FY26 dividend of 528.33 cents and EPS of 1078.33 cents.

UBS

xx/xx/xxxx

1

xxx

$xx.xx

xx.xx%

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Ord Minnett

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

3

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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Wilsons

12/02/2025

3

Market Weight

$250.00

-3.35%

CSL beat forecasts for Behring and Vifor in the 1H25 result but Seqirus' performance missed, Wilsons notes. The company reaffirmed FY25 net profit guidance of US$3.2-$3.3bn and gross margin increase of over 100bps for Behring.

The broker raised FY25 net profit estimate by 0.8% to US$3.2bn, noting it is at the lower end of CSL guidance. The analyst marginally raised FY25 EPS forecast but lowered FY26 by -4.4%, with the downgrade centred on Seqirus.

The broker's valuation is based on DCF which in USD terms is down -18%, but translates to -14% in AUD terms. New target price is $250.

Market Weight rating maintained with the broker reiterating CSL remains relatively expensive compared to global biopharma.

FORECAST
Wilsons forecasts a full year FY25 dividend of 442.82 cents and EPS of 1009.47 cents.
Wilsons forecasts a full year FY26 dividend of 482.67 cents and EPS of 1075.89 cents.

Goldman Sachs

xx/xx/xxxx

1

xxx

$xx.xx

xx.xx%

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Access Extra Coverage Research History >

CSL STOCK CHART

FNArena News on CSL

1
Rudi’s View: Best Ideas & Conviction Calls

Feb 20 2025 - Rudi's View
2
Rudi’s View: More Beats In Early Feb Results

Feb 19 2025 - Rudi's View
3
Rudi Interviewed: Turning Laggards Into Winners

Feb 17 2025 - Rudi's View
4
Next Week At A Glance -17-21 Feb 2025

Feb 14 2025 - Weekly Reports
5
Australian Broker Call *Extra* Edition – Feb 13, 2025

Feb 13 2025 - Daily Market Reports

Latest Pharmaceuticals & Biotech/Lifesciences News

1
Behring Margin Outlook Still Main Game For CSL

Feb 13 2025 - Australia
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Jul 23 2024 - Technicals
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Jul 18 2024 - Australia
8
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