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Cuscal Limited
(Sydney:CCL)
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Rating:63Neutral
Price Target:
AU$7.00
â–²(46.75% Upside)
Action:Reiterated
Date:08/22/26
The score is primarily driven by improved FY2026 financial performance (re-accelerating revenue growth, solid margins, strong cash generation, and sharply lower leverage). Technicals are supportive with a clear uptrend, though momentum indicators are stretched, which raises near-term reversal risk. Valuation is a headwind due to a relatively high P/E and only a modest dividend yield.
Positive Factors
Re-accelerating Revenue Growth
The return to 15.0% revenue growth indicates renewed demand for Cuscal’s payments and banking-services platform after a weaker prior year. Sustained expansion would broaden the earnings base, support operating investment, and reinforce the company’s role across financial-institution payment ecosystems.
Negative Factors
Historical Balance-Sheet Volatility
Although FY2026 leverage is much healthier, the extreme historical swings in total debt and debt-to-equity show that Cuscal’s balance-sheet profile has not been consistently stable. Such variability can complicate capital planning and reduce confidence that the current improvement will persist.
Read all positive and negative factors
Positive Factors
Negative Factors
Re-accelerating Revenue Growth
The return to 15.0% revenue growth indicates renewed demand for Cuscal’s payments and banking-services platform after a weaker prior year. Sustained expansion would broaden the earnings base, support operating investment, and reinforce the company’s role across financial-institution payment ecosystems.
Read all positive factors
Cuscal Limited (CCL) vs. iShares MSCI Australia ETF (EWA)
Market Cap
AU$1.17B
Dividend Yield1.93%
Average Volume (3M)1.83M
Price to Earnings (P/E)27.1
Beta (1Y)1.16
Revenue Growth19.06%
EPS Growth47.53%
CountryAU
Employees1,088
SectorGeneral
Sector StrengthN/A
IndustrySoftware - Infrastructure
Share Statistics
EPS (TTM)0.22
Shares Outstanding199,812,620
10 Day Avg. Volume1,393,369
30 Day Avg. Volume1,832,787
Financial Highlights & Ratios
PEG Ratio0.49
Price to Book (P/B)2.24
Price to Sales (P/S)2.05
P/FCF Ratio1.23
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
AU$6.48Price Target Upside35.74% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering4
EPS Forecast (FY)0.29
Revenue Forecast (FY)AU$446.53M
Cuscal Limited Business Overview & Revenue Model
Company Description
Cuscal Limited functions as a specialist provider, delivering essential payment infrastructure and secure, regulated data solutions. Its diverse portfolio of services includes a cutting-edge real-time payment platform, comprehensive card services,...
Cuscal Limited Financial Statement Overview
Summary
Income Statement
66
Positive
Balance Sheet
58
Neutral
Cash Flow
63
Positive
| Breakdown | Jun 2025 | Jun 2025 | Jun 2024 | Jun 2023 | Jun 2022 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 475.00M | 139.40M | 395.10M | 218.40M | 175.10M |
| Gross Profit | 315.30M | 31.40M | 254.20M | 0.00 | 0.00 |
| EBITDA | 70.80M | 164.00M | 183.50M | 29.90M | 33.10M |
| Net Income | 42.70M | 28.70M | 31.60M | 26.10M | 23.40M |
Balance Sheet | |||||
| Total Assets | 5.05B | 3.47B | 3.51B | 3.08B | 3.32B |
| Cash, Cash Equivalents and Short-Term Investments | 2.98B | 3.21B | 3.19B | 2.80B | 1.66B |
| Total Debt | 4.23B | 697.90M | 2.71B | 2.47B | 478.40M |
| Total Liabilities | 4.61B | 3.09B | 3.15B | 2.78B | 3.02B |
| Stockholders Equity | 433.70M | 376.40M | 352.60M | 298.90M | 293.20M |
Cash Flow | |||||
| Free Cash Flow | 788.50M | 124.10M | 395.90M | 48.00M | 769.80M |
| Operating Cash Flow | 793.10M | 148.70M | 403.20M | 57.70M | 795.90M |
| Investing Cash Flow | 298.30M | -24.60M | -17.30M | -5.30M | -5.80M |
| Financing Cash Flow | 8.00M | 18.00M | -18.30M | -80.30M | -80.20M |
Cuscal Limited Technical Analysis
Neutral
4.77
Price Trends
5.84
Positive
5.38
Positive
4.82
Positive
Market Momentum
0.03
Positive
44.74
Neutral
12.76
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For AU:CCL, the sentiment is Neutral. The current price of 4.77 is below the 20-day moving average (MA) of 6.18, below the 50-day MA of 5.84, and below the 200-day MA of 4.82, indicating a neutral trend. The MACD of 0.03 indicates Positive momentum. The RSI at 44.74 is Neutral, neither overbought nor oversold. The STOCH value of 12.76 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for AU:CCL.
Cuscal Limited Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
63 Neutral | AU$1.17B | 27.07 | 9.78% | 1.93% | 19.06% | 47.53% | |
62 Neutral | AU$123.36M | -288.89 | -0.22% | 4.06% | -7.93% | -101.72% | |
60 Neutral | AU$750.47M | 6.85 | 12.29% | 9.04% | -0.65% | 8.02% | |
56 Neutral | AU$974.56M | 6.74 | 12.12% | 15.58% | -3.49% | 7.16% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
51 Neutral | AU$2.64B | 22.33 | 17.40% | ― | 24.44% | 46.79% | |
50 Neutral | AU$831.79M | 7.57 | 8.74% | 13.29% | 4.20% | 85.51% |
* General Sector Average
AU:CCL
Cuscal Limited
5.89
1.85
45.97%
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2.07
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Pepper Money Ltd
1.66
-0.30
-15.44%
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0.80
-0.22
-21.49%
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OFX Group Ltd.
0.54
-0.28
-34.76%
AU:LFG
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3.17
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-10.78%
Cuscal Limited Corporate Events
Cuscal Releases 2026 AGM Notice and Shareholder Materials
Sep 17, 2026
Cuscal Limited has released its 2026 Notice of Annual General Meeting, along with accompanying voting and shareholder question forms and an online guide, in line with ASX listing requirements. The publication of these materials marks a key step in...
S&P Dow Jones Indices Adds Cuscal to S&P/ASX 300 in September Rebalance
Sep 4, 2026
SP Dow Jones Indices has announced its September 2026 quarterly rebalance of the SP/ASX equity benchmarks, with several additions and removals across the 50, 100, 200, and 300 indices effective before trading opens on September 21. The reshuffle b...
Cuscal Director Leila Fourie Acquires Initial Stake in Company Shares
Sep 3, 2026
Cuscal Limited has disclosed a change in the securities holdings of director Leila Fourie, who previously held no shares in the company. According to the notice, she has acquired 874 Cuscal ordinary shares via an on‑market purchase during an...
Cuscal director Elizabeth Proust lifts indirect shareholding
Aug 24, 2026
Cuscal Limited has disclosed a change in the shareholding of director Elizabeth Mary Proust, who increased her indirect interest in the company through the Proust Lawrence Superannuation Fund. The fund acquired 20,000 CCL ordinary shares in an on-...
Cuscal Sets 2026 AGM Date and Opens Director Nominations
Aug 20, 2026
Cuscal Limited has scheduled its 2026 Annual General Meeting for 20 October in Sydney, confirming the timetable for shareholder engagement on governance matters. The company will issue a Notice of Meeting and Explanatory Memorandum by 18 September...
Cuscal Files 2026 Corporate Governance Statement and Appendix 4G with ASX
Aug 19, 2026
Cuscal Limited has lodged its corporate governance statement for the year ended 30 June 2026 with the ASX and made it available via its investor website, in line with Listing Rule 4.10.3. The statement, current as of 20 August 2026 and approved by...
Cuscal boosts FY26 profit on Indue and Paymark acquisitions, eyes further growth
Aug 19, 2026
Cuscal Limited reported a 49% jump in statutory net profit after tax to $42.7 million for FY26, driven by strong underlying growth and recent acquisitions in the payments sector. On an underlying basis, net operating income rose 20% to $347.7 mill...
Cuscal Declares A$0.07 Interim Dividend for Half-Year to June 2026
Aug 19, 2026
Cuscal Limited has declared an ordinary dividend of A$0.07 per fully paid share for the six-month period ended 30 June 2026. The ASX-listed payments provider has set 27 August 2026 as the ex-dividend date, 28 August 2026 as the record date, and 18...
Cuscal boosts profits as Indue and Paymark deals build trans-Tasman payments reach
Aug 19, 2026
Cuscal Limited reported a strong financial performance for the year to 30 June 2026, with revenue rising 21% to $595.4 million and profit after tax jumping 49% to $42.7 million. The board declared a fully franked final dividend of 7.0 cents per sh...
Cuscal Director Claudine Ogilvie to Step Down in October
Aug 17, 2026
Cuscal Limited has announced that Non-Executive Director Claudine Ogilvie will resign from the board effective 20 October 2026, ending a tenure that began in February 2023. During her time with the company she served on the Board Risk Committee an...
Cuscal Names Leila Fourie to Board With No Initial Shareholdings
Aug 4, 2026
Cuscal Limited has appointed Leila Fourie as a director effective 1 August 2026, according to an Initial Director’s Interest Notice lodged with the ASX. The filing confirms that Fourie holds no relevant interests in Cuscal securities or rela...
Cuscal sets August date to unveil FY26 results and brief investors
Jul 23, 2026
Cuscal Limited, the Australian payments-focused authorised deposit-taking institution, has evolved from its mutual banking origins into a major provider of payment processing and regulated data services, leveraging its licences and infrastructure ...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.