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

$146.02

26 Feb
2026

0.910

OPEN

$147.00

0.63%

HIGH

$147.15

1,247,826

LOW

$145.18

TARGET
$205.763 40.9% upside
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FNARENA'S MARKET CONSENSUS FORECASTS
CSL: 1
Title FY26
Forecast		 FY27
Forecast
EPS (cps) 963.8 xxx
DPS (cps) 476.5 xxx
EPS Growth N/A xxx
DPS Growth N/A xxx
PE Ratio 15.2 xxx
Dividend Yield 3.2% xxx
Div Pay Ratio(%) 49.4% 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: 1.38%

DIVIDEND YIELD CALCULATOR

Dividend Yield Today On Last Actual Payout :

 2.80

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 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

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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UBS

xx/xx/xxxx

1

xxx

$xx.xx

xx.xx%

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Morgan Stanley

12/02/2026

1

Overweight

$215.00

47.24%

Following CSL's interim results, Morgan Stanley lowers its target to $215 from $242 and maintains an Overweight rating. Industry View: In-Line.

1H26 profit (NPATA) came in -1% below the broker's estimate and -3.4% below consensus, with stronger Seqirus and Vifor revenue partly offsetting a weaker Behring performance. FY26 guidance was retained.

Lower operating costs appear central to meeting guidance, the analysts suggest, more so than gross profit expansion. It's noted second half earnings (EBIT) must rise 28% to achieve the low end of guidance.

The analyst sees improved Ig and albumin growth as key to restoring confidence.

FORECAST
Morgan Stanley forecasts a full year FY26 dividend of 471.83 cents and EPS of 563.45 cents.
Morgan Stanley forecasts a full year FY27 dividend of 479.46 cents and EPS of 1082.61 cents.

Ord Minnett

xx/xx/xxxx

3

xxxx

$xx.xx

xx.xx%

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Bell Potter

xx/xx/xxxx

3

xxxx

$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

Canaccord Genuity

xx/xx/xxxx

1

xxx

$xx.xx

xx.xx%

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Jarden

16/02/2026

2

Overweight

$270.00

84.91%

CSL delivered a mixed 1H26 result that was better than Jarden feared, reaffirming FY26 guidance despite reliance on what management described as “informed ambitions” for Immunoglobulin and Albumin.

The broker forecasts FY26 revenue growth of 1.1%, below guidance of 2% to 3% in constant currency, with net profit after tax expected at $3.277bn, around -2.1% below the bottom end of guidance.

Jarden's earnings forecasts are cut by -2.5%, -3.5% and -3.8% across FY26 to FY28, reflecting weaker Behring revenue and margin assumptions, partially offset by lower opex from cost out initiatives.

Overweight retained, target price reduced to $270.00 from $284.00,

FORECAST
Jarden forecasts a full year FY26 dividend of 445.87 cents and EPS of 972.82 cents.
Jarden forecasts a full year FY27 dividend of 461.14 cents and EPS of 1074.36 cents.
Access Extra Coverage Research History >

CSL STOCK CHART

FNArena News on CSL

1
Rudi’s View: Positives From February Results

Feb 26 2026 - Rudi's View
2
Next Week At A Glance – 23-27 Feb 2026

Feb 20 2026 - Weekly Reports
3
In Case You Missed It – BC Extra Upgrades & Downgrades – 20-02-26

Feb 20 2026 - Weekly Reports
4
Australian Broker Call *Extra* Edition – Feb 17, 2026

Feb 17 2026 - Daily Market Reports
5
Australian Broker Call *Extra* Edition – Feb 16, 2026

Feb 16 2026 - Daily Market Reports

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