Want to see AU:CSL full AI Analyst Report?
Top Page
CSL
(Sydney:CSL)
Select Model
Select Model
Rating:58Neutral
Price Target:
AU$204.00
▲(17.48% Upside)
Action:Reiterated
Date:08/19/26
The score is held back primarily by FY26’s sharp deterioration in reported profitability (large loss/impairments) and notable portfolio headwinds highlighted in guidance (especially Vifor). Support comes from continued positive cash generation, transformation savings and shareholder returns, and a strong technical uptrend, but premium valuation and overbought indicators temper the outlook.
Positive Factors
Cash Generation
Strong operating cash flow despite a statutory loss demonstrates that the core business continues to convert operations into funding. This supports investment, dividends and buybacks while giving management flexibility to absorb restructuring costs and pursue longer-term growth initiatives.
Negative Factors
Impairments and Statutory Loss
The scale of impairments and the statutory loss materially weaken reported earnings quality and reduce confidence in the carrying value of parts of the portfolio. They also lower equity and indicate that prior growth assumptions will require reassessment, limiting financial resilience.
Read all positive and negative factors
Positive Factors
Negative Factors
Cash Generation
Strong operating cash flow despite a statutory loss demonstrates that the core business continues to convert operations into funding. This supports investment, dividends and buybacks while giving management flexibility to absorb restructuring costs and pursue longer-term growth initiatives.
Read all positive factors
CSL (CSL) vs. iShares MSCI Australia ETF (EWA)
Market Cap
AU$94.10B
Dividend Yield2.07%
Average Volume (3M)1.15M
Price to Earnings (P/E)―
Beta (1Y)0.83
Revenue Growth-2.49%
EPS Growth-179.79%
CountryAU
Employees29,000
SectorHealthcare
Sector Strength45
IndustryBiotechnology
Share Statistics
EPS (TTM)-5.29
Shares Outstanding479,884,280
10 Day Avg. Volume1,058,617
30 Day Avg. Volume1,149,043
Financial Highlights & Ratios
PEG Ratio0.11
Price to Book (P/B)3.74
Price to Sales (P/S)3.45
P/FCF Ratio18.88
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
AU$183.75Price Target Upside5.82% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering11
EPS Forecast (FY)6.17
Revenue Forecast (FY)AU$15.75B
CSL Business Overview & Revenue Model
Company Description
CSL Limited operates as a global biopharmaceutical company, engaged in the research, development, manufacturing, marketing, and distribution of diverse pharmaceutical and allied products. Its extensive international footprint includes key markets ...
How the Company Makes Money
CSL makes money primarily by selling biopharmaceutical products and vaccines to hospitals, specialty pharmacies, government purchasers, and other healthcare providers globally. A major portion of revenue is generated by CSL Behring from plasma-der...
CSL Earnings Call Summary
Earnings Call Date:Aug 17, 2026
(Q4-2026)
| % Change Since: |
Next Earnings Date:Feb 09, 2027
Earnings Call Sentiment Negative
The call presented a mix of stabilization and operational progress (strong cash flow, ahead-of-plan transformation savings, Ig momentum in H2, successful new product launches and Seqirus share gains) but was overshadowed by very large impairments, a statutory net loss, and significant, structural headwinds in Vifor (anticipated ~25% revenue decline) plus continued pressure on albumin. While management has a clear remediation plan and delivered early positive operational signs, the scale and persistence of the portfolio and impairment issues materially weaken near-term financial prospects.Positive Updates
Solid cash generation and shareholder returns
Operating cash flow of $3.5B supported completion of an AUD 1.0B buyback in FY'26, maintenance of the full-year dividend at $2.92 per share (U.S. dollars), and an authorized further buyback of ~AUD 1.1B for FY'27.
Negative Updates
Substantial impairments and statutory loss
FY'26 pretax impairments totaled $7.1B (including $5.5B in H2); the largest component was Vifor impairments of $4.1B. After restructuring and impairments, statutory NPAT attributable to shareholders was a loss of $2.6B.
Read all updates
Q4-2026 Updates
Positive
Negative
Solid cash generation and shareholder returns
Operating cash flow of $3.5B supported completion of an AUD 1.0B buyback in FY'26, maintenance of the full-year dividend at $2.92 per share (U.S. dollars), and an authorized further buyback of ~AUD 1.1B for FY'27.
Read all positive updates
Company Guidance
CSL guided FY‑27 group revenue to be broadly in line with FY‑26 (FY‑26 revenue $15.8bn, down 1% constant FX) and underlying NPAT to grow roughly 5% at constant currency (excluding restructuring and impairments), while warning of an approximately $50m FX headwind at current rates; division guidance was Behring mid‑single‑digit revenue growth with Ig mid‑ to high‑single‑digit growth and a modest gross‑margin improvement (aiming to recover roughly the ~70bp lost in FY‑26), Seqirus low‑single‑digit growth, and Vifor an ~25% revenue decline (no TAVNEOS sales in FY‑27, Velphoro TDAPA benefit ceasing end‑2026). Management expects FY‑27 incremental transformation savings of ~ $220m (taking annualized savings to ~ $400m and up to $550m in FY‑28) with about half to be reinvested into commercial and R&D, FY‑27 CapEx of ~ $1.0bn ± $100m, a new AUD 1.1bn buyback (after the AUD 1bn completed in FY‑26), maintained FY‑26 dividend (final $1.62, full year $2.92 per share), strong operating cash flow ($3.5bn in FY‑26), and a target net debt/EBITDA range of 1.5–2x (FY‑26 net debt/EBITDA 1.8x).CSL Financial Statement Overview
Summary
Income Statement
48
Neutral
Balance Sheet
56
Neutral
Cash Flow
63
Positive
| Breakdown | Jun 2026 | Jun 2025 | Jun 2024 | Jun 2023 | Jun 2022 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 16.04B | 15.43B | 14.69B | 13.17B | 10.49B |
| Gross Profit | 7.65B | 7.95B | 7.56B | 6.71B | 5.66B |
| EBITDA | 5.14B | 5.09B | 4.77B | 3.92B | 3.46B |
| Net Income | -2.64B | 3.00B | 2.64B | 2.19B | 2.25B |
Balance Sheet | |||||
| Total Assets | 33.63B | 39.40B | 38.02B | 54.43B | 41.22B |
| Cash, Cash Equivalents and Short-Term Investments | 1.51B | 2.16B | 1.66B | 1.55B | 10.44B |
| Total Debt | 10.89B | 11.50B | 12.18B | 12.23B | 9.66B |
| Total Liabilities | 17.33B | 18.00B | 18.62B | 27.65B | 20.02B |
| Stockholders Equity | 14.79B | 19.34B | 17.33B | 15.79B | 14.58B |
Cash Flow | |||||
| Free Cash Flow | 2.93B | 2.54B | 1.92B | 1.35B | 1.90B |
| Operating Cash Flow | 3.59B | 3.56B | 2.76B | 3.87B | 3.62B |
| Investing Cash Flow | -1.30B | -850.00M | -1.26B | -11.69B | -1.64B |
| Financing Cash Flow | -2.89B | -2.24B | -1.28B | 456.00M | 7.68B |
CSL Technical Analysis
Positive
173.64
Price Trends
174.18
Positive
145.36
Positive
141.84
Positive
Market Momentum
6.18
Negative
76.70
Negative
90.12
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For AU:CSL, the sentiment is Positive. The current price of 173.64 is below the 20-day moving average (MA) of 184.03, below the 50-day MA of 174.18, and above the 200-day MA of 141.84, indicating a bullish trend. The MACD of 6.18 indicates Negative momentum. The RSI at 76.70 is Negative, neither overbought nor oversold. The STOCH value of 90.12 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for AU:CSL.
CSL Peers Comparison
UnderperformOutperform
Sector (51)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
58 Neutral | AU$94.10B | -25.84 | -15.12% | 2.07% | -2.49% | -179.79% | |
53 Neutral | AU$4.94B | 98.19 | 7.11% | ― | 26.66% | 179.32% | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% | |
51 Neutral | AU$2.29B | -28.67 | -10.06% | ― | 555.67% | 49.08% | |
43 Neutral | AU$239.87M | -28.95 | -42.35% | ― | 145.32% | 25.75% | |
42 Neutral | AU$660.35M | -5.97 | -51.15% | ― | ― | -44.83% |
* Healthcare Sector Average
AU:CSL
CSL
196.14
-15.89
-7.49%
AU:MSB
Mesoblast Limited
1.83
-0.77
-29.62%
AU:SPL
Starpharma Holdings Limited
0.47
0.17
55.63%
AU:TLX
Telix Pharmaceuticals
13.66
-3.14
-18.69%
AU:CU6
Clarity Pharmaceuticals Ltd.
1.68
-2.92
-63.51%
CSL Corporate Events
CSL Names ViiV Healthcare Chief Deborah Waterhouse as New CEO
Oct 21, 2026
CSL Limited has appointed Deborah Waterhouse as Chief Executive Officer and Managing Director, effective 1 February 2027, following an extensive global search by its board. Waterhouse, currently CEO of HIV specialist ViiV Healthcare and President ...
CSL to Roll Out New Haemonetics Plasma Platform Across U.S. Network
Oct 8, 2026
CSL Limited has expanded its relationship with Haemonetics Corporation and plans to complete the rollout of Haemonetics’ latest-generation plasmapheresis platform across its U.S. plasma collection centres by the end of 2027. CSL has also rea...
CSL Raises US$1.5bn in Dual-Tranche Bond Deal to Refinance Debt
Oct 6, 2026
CSL Limited has raised US$1.5 billion through a dual-tranche corporate bond offering in the US Dollar 144A/Reg S market, issued via CSLB Holdings Inc. and guaranteed by the parent and certain subsidiaries. The deal comprises a US$500 million seven...
CSL Strikes US$355m Deal to Co-Develop Rare Kidney and Liver Disease Drug
Oct 4, 2026
CSL Limited has entered an exclusive co-development and co-promotion agreement with Alentis Therapeutics for lixudebart, an investigational monoclonal antibody targeting exposed claudin-1 in fibrotic and inflammatory pathways across multiple organ...
CSL Updates Market on Ongoing On‑Market Share Buy‑Back
Sep 23, 2026
CSL Limited has continued its on‑market share buy‑back program, updating the market with a daily notification under Appendix 3C. The company reported that it had repurchased a total of 372,281 ordinary fully paid shares before the prev...
CSL Continues Active On-Market Share Buy-Back Program
Sep 17, 2026
CSL Limited has issued an updated notification to the ASX confirming ongoing on-market buy-backs of its ordinary fully paid shares under a program first announced in late August 2026. The latest daily update reports a cumulative 202,461 shares rep...
CSL Sets Date and Details for 2026 Annual General Meeting in Melbourne
Sep 16, 2026
CSL has released the official Notice of Meeting for its 2026 Annual General Meeting, confirming that the AGM will be held at Sofitel Melbourne on Collins on 27 October 2026 at 10 a.m. AEDT. The documentation for shareholders, including the proxy f...
CSL Updates Market on Progress of Ongoing Share Buy‑Back
Sep 15, 2026
CSL Limited has provided a daily update on its on‑market share buy‑back program for its ordinary fully paid shares listed on the ASX. The company reported that a total of 60,740 shares had been repurchased before the previous day, with...
CSL Reports Ongoing Daily On-Market Share Buy-Back Activity
Sep 14, 2026
CSL Limited has issued an updated notification to the ASX confirming ongoing on-market buy-backs of its ordinary fully paid shares. The latest daily report, dated 15 September 2026, shows that 60,740 shares were repurchased on the previous trading...
CSL Updates Dividend Notice With New Currency Conversion Details
Sep 13, 2026
CSL Limited, a leading biopharmaceutical group listed on the ASX under the code CSL, develops vaccines and plasma-based therapies for global healthcare markets. Its ordinary fully paid shares are widely held by institutional and retail investors w...
CSL Appoints J.P. Morgan as Broker for On‑Market Share Buy‑Back
Sep 8, 2026
CSL Limited has confirmed updated arrangements for its previously announced on‑market share buy‑back of ordinary fully paid shares, refining the execution details of its capital management strategy. The company disclosed that J.P. Morg...
CSL Seeks ASX Quotation for New Shares from Employee Incentive Plan
Sep 8, 2026
CSL Limited is a global biotechnology company that develops and supplies vaccines, plasma-derived therapies, and specialty biopharmaceuticals to healthcare providers worldwide. Listed on the Australian Securities Exchange as CSL, it targets immuno...
CSL Issues 1.9 Million Unquoted Rights Under Employee Incentive Scheme
Sep 8, 2026
CSL Limited has issued new unquoted equity securities in the form of 1,902,217 rights under an employee incentive scheme, dated 4 September 2026. These rights are subject to transfer restrictions and will not be quoted on the ASX until those restr...
CSL Adjusts Capital Structure as 275,104 Conditional Rights Lapse
Sep 7, 2026
CSL Limited has notified the market of the cessation of 275,104 rights securities, recorded under the ASX code CSLAL, following the lapse of conditional rights that could not be satisfied. The cessation, effective 1 September 2026, reflects an adj...
CSL Notifies Cessation of CSLAL Rights Securities on ASX
Sep 3, 2026
CSL Limited, a leading ASX-listed biopharmaceutical company, specializes in vaccines, plasma-derived treatments, and other biotechnology products for patients with rare and serious medical conditions. The group operates globally, with a strong pre...
CSL Director Alison Watkins Increases Indirect Equity Exposure via Rights Plan
Sep 3, 2026
CSL Limited has disclosed a change in director Alison Watkins’ indirect interests in the company, stemming from the acquisition of rights under the CSL Limited Non-Executive Director Rights Plan. Through a custodian structure involving Soliu...
CSL Director Elaine Sorg Increases Equity Stake Through Rights Plan
Sep 3, 2026
CSL Limited has reported a change in the indirect equity interests of non-executive director Elaine Sorg, reflecting an adjustment in her holdings under the company’s Non-Executive Director Rights Plan. The change was executed through a cust...
CSL Director Cameron Price Increases Equity Exposure via Rights Plan
Sep 3, 2026
CSL Limited has reported a change in the indirect holdings of non-executive director Cameron Bruce Price, following his participation in the CSL Non-Executive Director Rights Plan. Through custodian Solium Nominees (Australia) Pty Ltd, Price acqui...
CSL Director Samantha Lewis Increases Equity Stake via Rights Plan
Sep 3, 2026
CSL Limited has reported a change in the interests of non-executive director Samantha Lewis, reflecting her ongoing participation in the company’s Non-Executive Director Rights Plan. The move underscores CSL’s practice of aligning boar...
CSL Director Carolyn Hewson Increases Equity Exposure Through Rights Plan
Sep 3, 2026
CSL has disclosed a change in the indirect security holdings of non-executive director Carolyn Hewson, who has acquired 475 rights under the CSL Limited Non-Executive Director Rights Plan via custodian Solium Nominees on behalf of the Zanadu Inves...
CSL Director Brian Daniels Increases Equity Stake Through Rights Plan
Sep 3, 2026
CSL Limited reported a change in the indirect securities holdings of non-executive director Brian Daniels, following his participation in the CSL Limited Non-Executive Director Rights Plan. Under this plan, Daniels contributed a portion of his boa...
CSL Director Brian McNamee Increases Indirect Equity Exposure via Rights Plan
Sep 3, 2026
CSL Limited has disclosed a change in director Brian McNamee’s indirect interests, with securities held via several custodians and nominees, including Mutual Trust, HSBC Bank Australia and Solium Nominees for related entities and foundations...
CSL Issues New Unquoted Employee Rights Under Incentive Scheme
Sep 3, 2026
CSL Limited has notified the market of the issue of 12,809 unquoted rights securities, designated CSLAL, under its employee incentive scheme. The rights were issued on August 26, 2026, and are subject to transfer restrictions, meaning they will no...
CSL Aligns U.S. Drug Pricing and Boosts Plasma Manufacturing with $1.5bn Expansion
Aug 31, 2026
CSL Limited has struck new agreements with the U.S. Administration that will see its medicines supplied to the Medicaid program at prices comparable to those in other developed markets, and any newly launched therapies similarly priced for all U.S...
CSL Updates Market on Director Alison Watkins’ Equity Conversion
Aug 27, 2026
CSL Limited disclosed a change in the indirect shareholding of non-executive director Alison Watkins, in line with Australian Securities Exchange requirements for director interest notices. The company’s detailed reporting of these changes f...
CSL Director Converts Rights to Ordinary Shares Under Equity Plan
Aug 27, 2026
CSL Limited has disclosed a change in the indirect holdings of non-executive director Constantine Saroukos following the exercise of rights under the company’s Non-Executive Director Rights Plan. Saroukos converted 512 rights, previously acq...
CSL Director Cameron Bruce Price Converts Rights Into Ordinary Shares
Aug 27, 2026
CSL Limited has reported a change in the indirect equity interests of non-executive director Cameron Bruce Price, reflecting the exercise of rights previously acquired under the company’s Non-Executive Director Rights Plan. Through custodian...
CSL Discloses Director Samantha Lewis’s Increased Shareholding via Rights Exercise
Aug 27, 2026
CSL Limited has reported a change in the equity holdings of non-executive director Samantha Lewis, reflecting the exercise of rights under the company’s Non-Executive Director Rights Plan. The transaction involved converting 152 rights into ...
CSL Director Carolyn Hewson Converts Rights Into Additional CSL Shares
Aug 27, 2026
CSL Limited has disclosed a change in the indirect holdings of non‑executive director Carolyn Hewson, involving securities held via custodians and a family investment trust structure. The update reflects routine adjustments under the CSL Non...
CSL Updates Director Equity Holdings Under Non-Executive Rights Plan
Aug 27, 2026
CSL has disclosed a change in the indirect shareholding of non-executive director Professor Robert Andrew Cuthbertson, reflecting the exercise of rights under the company’s Non-Executive Director Rights Plan. His indirect holdings through cu...
CSL Director Exercises Rights to Acquire Additional Shares
Aug 27, 2026
CSL Limited has disclosed a change in the indirect securities interests of director Dr Brian McNamee, as required under ASX listing rules. The notice details movements within custodial and nominee-held Ordinary Shares and rights associated with th...
CSL Issues 2,000 New Shares Following Conversion of Unquoted Securities
Aug 27, 2026
CSL Limited has notified the market of the issue of 2,000 ordinary fully paid shares, following the exercise or conversion of previously unquoted equity securities. The shares were issued on August 21, 2026, under the company’s existing capi...
CSL Launches On-Market Share Buy-Back Program
Aug 26, 2026
CSL Limited has announced an on-market buy-back of its ordinary fully paid shares listed on the ASX under the code CSL. The program signals management’s confidence in the company’s financial position and may support the share price by ...
CSL Declares USD 1.62 Interim Dividend for Half‑Year to June 2026
Aug 17, 2026
CSL Limited has declared an interim dividend of USD 1.62 per ordinary fully paid share for the six‑month period ended 30 June 2026, reinforcing its ongoing commitment to shareholder returns. The stock will trade ex‑dividend on 9 Septem...
CSL Marks FY26 as Reset Year Amid Impairments, Transformation Drive
Aug 17, 2026
CSL has declared FY26 a reset year, posting underlying NPATA of US$3.1 billion, down 2%, and a reported net loss after tax of US$2.6 billion driven largely by US$7.1 billion in asset impairments and US$799 million in restructuring costs. Operating...
CSL posts revenue growth but swings to loss ahead of 2026 AGM
Aug 17, 2026
CSL Limited has released its full-year results to 30 June 2026, reporting a modest 2% rise in total revenue to US$15.8 billion but a sharp swing to a net loss of US$2.6 billion attributable to shareholders. Underlying NPATA fell 4% to US$3.1 billi...
CSL Confirms Lapse of 37,550 Conditional Rights Securities
Aug 5, 2026
CSL Limited has reported the cessation of 37,550 conditional rights securities, identified on the ASX under the code CSLAL. The rights lapsed on August 4, 2026 after the specified vesting or performance conditions were not met or became incapable ...
CSL to Test High-Yield Plasma Technology in New Immunoglobulin Trials
Jul 29, 2026
CSL Limited will launch clinical trials to assess the efficacy and safety of immunoglobulin produced with its Horizon 2 next-generation plasma manufacturing process, which significantly increases yield from the same volume of plasma. The company m...
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.