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

$177.15

16 Dec
2025

-2.160

OPEN

$179.77

-1.20%

HIGH

$179.77

1,265,356

LOW

$177.15

TARGET
$231.93 30.9% upside
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FNARENA'S MARKET CONSENSUS FORECASTS
CSL: 1
Title FY26
Forecast		 FY27
Forecast
EPS (cps) 1093.3 xxx
DPS (cps) 502.0 xxx
EPS Growth N/A xxx
DPS Growth N/A xxx
PE Ratio 15.9 xxx
Dividend Yield 2.9% xxx
Div Pay Ratio(%) 45.9% 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: 1.51%

DIVIDEND YIELD CALCULATOR

Dividend Yield Today On Last Actual Payout :

 2.54

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 202020212022202320242025
EPS Basic xxxxxxxxxxxxxxx957.6
DPS All xxxxxxxxxxxxxxx452.2
Sales/Revenue xxxxxxxxxxxxxxx23,825.3 M
Book Value Per Share xxxxxxxxxxxxxxx6,093.1
Net Operating Cash Flow xxxxxxxxxxxxxxx5,498.5 M
Net Profit Margin xxxxxxxxxxxxxxx19.46 %

EPS Basic

DPS All

Sales/Revenue

Book Value Per Share

Net Operating Cash Flow

Net Profit Margin

Title 202020212022202320242025
Return on Capital Employed xxxxxxxxxxxxxxx16.70 %
Return on Invested Capital xxxxxxxxxxxxxxx10.46 %
Return on Assets xxxxxxxxxxxxxxx7.92 %
Return on Equity xxxxxxxxxxxxxxx16.70 %
Return on Total Capital xxxxxxxxxxxxxxx12.77 %
Free Cash Flow ex dividends xxxxxxxxxxxxxxx2,456.6 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 xxxxxxxxxxxxxxx1,227 M
Long Term Debt xxxxxxxxxxxxxxx16,318 M
Total Debt xxxxxxxxxxxxxxx17,545 M
Goodwill - Gross xxxxxxxxxxxxxxx12,306 M
Cash & Equivalents - Generic xxxxxxxxxxxxxxx3,291 M
Price To Book Value xxxxxxxxxxxxxxx3.93

Short-Term Debt

Long Term Debt

Total Debt

Goodwill - Gross

Cash & Equivalents - Generic

Price To Book Value

Title 202020212022202320242025
Capex xxxxxxxxxxxxxxx1,541.0 M
Capex % of Sales xxxxxxxxxxxxxxx6.47 %
Cost of Goods Sold xxxxxxxxxxxxxxx12,186 M
Selling, General & Admin. Exp & Other xxxxxxxxxxxxxxx5,415 M
Research & Development xxxxxxxxxxxxxxx2,098 M
Investments - Total xxxxxxxxxxxxxxx310 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

Ord Minnett

xx/xx/xxxx

3

xxxx

$xx.xx

xx.xx%

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Macquarie

xx/xx/xxxx

3

xxxxxxxxx xx xxxxxxx xxxx xxxxxxxxxx

$xx.xx

xx.xx%

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Morgan Stanley

xx/xx/xxxx

1

xxxxxxxxxx

$xx.xx

xx.xx%

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Citi

17/11/2025

1

Buy

$225.00

27.01%

Citi highlights CSL may face competitive pressure after Merck & Co agreed to acquire US-based biotechnology company Cidara Therapeutics and its lead flu preventative CD388 for around -US$9.2bn.

This novel investigational therapeutic offers additive efficacy to vaccines, observes the analyst, though some unvaccinated patients are included in the trial.

CD388, a long-acting antiviral distinct from CSL’s vaccines, is in a phase 3 Anchor trial targeting high-risk adults, with interim results expected in June and potential filing in 2027, explains the broker.

Citi considers the development worth monitoring given flu vaccines contribute about 14% of CSL’s revenue. Buy rating and target of $225 maintained.

FORECAST
Citi forecasts a full year FY26 dividend of 547.35 cents and EPS of 1093.92 cents.
Citi forecasts a full year FY27 dividend of 581.56 cents and EPS of 1162.65 cents.

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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Bell Potter

xx/xx/xxxx

3

xxxx

$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

16/10/2025

3

Hold

$230.00

29.83%

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 474.26 cents and EPS of 1085.68 cents.
Canaccord Genuity forecasts a full year FY27 dividend of 510.03 cents and EPS of 1183.33 cents.
Access Extra Coverage Research History >

CSL STOCK CHART

FNArena News on CSL

1
Rudi’s View: Copper, Aluminium & Technology (!)

Dec 11 2025 - Rudi's View
2
November In Review: November’s Nasty Nexus

Dec 03 2025 - Australia
3
Fisher & Paykel Healthcare’s Superior Profile

Dec 02 2025 - Australia
4
ASX200: What Stocks Are Included And Why It Matters

Nov 28 2025 - FYI
5
Australian Broker Call *Extra* Edition – Nov 26, 2025

Nov 26 2025 - Daily Market Reports

Latest Pharmaceuticals & Biotech/Lifesciences News

1
Anti-Vaxxers & China Cloud CSL’s Future

Oct 31 2025 - Australia
2
Rudi Interviewed: Diary Of A Successful Investor

Oct 20 2025 - Rudi's View
3
Is CSL Starting Its Price Recovery?

Sep 30 2025 - Technicals
4
Undervalued ASX Gems In Precision Medicine

Sep 23 2025 - Small Caps
5
Earnings Result Leaves CSL Bloodied

Aug 21 2025 - Australia
6
Renewed Momentum For CSL Shares

Jul 22 2025 - Technicals
7
Treasure Chest: CSL Not A One-Trick Pony

Jul 14 2025 - Treasure Chest
8
The Enigma Surrounding Clinuvel

Jul 03 2025 - Small Caps
9
Rudi’s View: CSL & NextDC

May 08 2025 - Rudi's View
10
Behring Margin Outlook Still Main Game For CSL

Feb 13 2025 - Australia