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CSL
(OTC:CSLLY)
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Rating:64Neutral
Price Target:
$30.00
▲(50.30% Upside)
Action:Reiterated
Date:08/19/26
Overall score is driven primarily by solid underlying financial fundamentals (strong multi-year revenue trajectory and resilient positive free cash flow) but tempered by FY’26 earnings volatility and a reduced equity cushion. Technicals are supportive with a strong uptrend, though momentum is stretched and vulnerable to a pullback. Valuation is a drag given a higher P/E, partly offset by the dividend. Earnings-call guidance suggests modest underlying profit growth and continued capital returns, but significant impairment history and Vifor’s expected decline keep risk elevated.
Positive Factors
Resilient Cash Generation
Consistently positive operating and free cash flow gives CSL capacity to fund biologics investment, dividends, buybacks and debt service. This supports financial resilience even while earnings are affected by impairments and portfolio restructuring.
Negative Factors
Large Impairments and Statutory Loss
The scale of impairments, particularly against Vifor, signals that prior assets may generate materially less value than expected. Although largely noncash, the charges reduce the equity cushion and raise questions about earnings quality and capital allocation.
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Positive Factors
Negative Factors
Resilient Cash Generation
Consistently positive operating and free cash flow gives CSL capacity to fund biologics investment, dividends, buybacks and debt service. This supports financial resilience even while earnings are affected by impairments and portfolio restructuring.
Read all positive factors
CSL (CSLLY) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$59.73B
Dividend Yield2.02%
Average Volume (3M)1.91K
Price to Earnings (P/E)―
Beta (1Y)0.30
Revenue Growth2.19%
EPS Growth-187.48%
CountryUS
Employees29,000
SectorHealthcare
Sector Strength45
IndustryBiotechnology
Share Statistics
EPS (TTM)-1.50
Shares Outstanding1,915,648,000
10 Day Avg. Volume0
30 Day Avg. Volume1,912
Financial Highlights & Ratios
PEG Ratio0.03
Price to Book (P/B)2.61
Price to Sales (P/S)2.45
P/FCF Ratio13.43
Enterprise Value/Market Cap<0.01
Enterprise Value/Revenue<0.01
Enterprise Value/Gross Profit<0.01
Enterprise Value/Ebitda<0.01
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)N/A
Revenue Forecast (FY)N/A
CSL Business Overview & Revenue Model
Company Description
CSL Limited is a global biopharmaceutical enterprise dedicated to the research, development, production, marketing, and distribution of a wide array of biopharmaceutical and related healthcare products. The company boasts a significant internation...
How the Company Makes Money
CSL primarily makes money by selling biopharmaceutical products and vaccines, with revenue concentrated in two major operating businesses.
1) CSL Behring (specialty biotherapies)
- Product sales of plasma-derived therapies: A significant portion ...
CSL Earnings Call Summary
Earnings Call Date:Aug 17, 2026
(Q4-2026)
| % Change Since: |
Next Earnings Date:Feb 09, 2027
Earnings Call Sentiment Neutral
The call presents a mixed picture: operational and commercial turnaround actions are beginning to show early, tangible benefits (strong cash flow, successful transformation savings, Seqirus market outperformance, Ig momentum and promising product launches), but these positives are offset by very large impairments, significant and structural headwinds in Vifor (expected ~25% revenue decline in FY'27), continued albumin pricing pressure in China and an FY'26 statutory loss driven by noncash charges. Management’s FY'27 underlying guidance (NPAT +~5% cc; Behring growth) and capital returns indicate confidence in a return to profitable growth, yet the scale of recent impairments and the outlook for Vifor mean near-term headwinds remain material.Positive Updates
Strong cash generation and capital returns
Operating cash flow of $3.5 billion supported completion of an AUD 1.0 billion share buyback, a new AUD 1.1 billion buyback authorization for FY'27, and maintenance of the full-year dividend at $2.92 per share (U.S. dollar basis); net debt/EBITDA finished at 1.8x within target range.
Negative Updates
Very large impairments and statutory loss
Total pretax impairments of $7.1 billion for FY'26 (including $5.5 billion in H2), with a $4.1 billion impairment primarily related to Vifor. After restructuring and impairments, statutory NPAT attributable to CSL shareholders was a loss of $2.6 billion.
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Q4-2026 Updates
Positive
Negative
Strong cash generation and capital returns
Operating cash flow of $3.5 billion supported completion of an AUD 1.0 billion share buyback, a new AUD 1.1 billion buyback authorization for FY'27, and maintenance of the full-year dividend at $2.92 per share (U.S. dollar basis); net debt/EBITDA finished at 1.8x within target range.
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, -1% cc) and expects underlying NPAT (excluding restructuring and impairments) to grow by approximately 5% at constant currency (noting an estimated FX headwind of about $50m at current rates). By business, CSL Behring is expected to deliver mid‑single‑digit revenue growth with immunoglobulin growing mid‑ to high‑single digits and a modest gross‑margin improvement, Seqirus low‑single‑digit revenue growth, and CSL Vifor a ~25% revenue decline (no TAVNEOS sales included in guidance). The transformation program should deliver ~ $220m incremental savings in FY '27 (building on $176m delivered in FY '26) taking annualized savings to ~ $400m and up to $550m in FY '28, with roughly half the incremental savings to be reinvested; FY '27 CapEx is expected to be about $1.0bn ± $100m. Capital return and balance‑sheet items include a new share buyback of ~AUD 1.1bn, the dividend maintained in US$ (FY '26 full‑year $2.92 per share, final $1.62), and a target net‑debt/EBITDA range of 1.5–2x.CSL Financial Statement Overview
Summary
Income Statement
56
Neutral
Balance Sheet
62
Positive
Cash Flow
68
Positive
| Breakdown | Jun 2026 | Jun 2025 | Jun 2024 | Jun 2023 | Jun 2022 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 15.77B | 15.43B | 14.80B | 13.17B | 10.49B |
| Gross Profit | 7.52B | 7.95B | 7.56B | 6.71B | 5.66B |
| EBITDA | 5.07B | 5.13B | 4.73B | 3.90B | 3.46B |
| Net Income | -2.59B | 3.00B | 2.64B | 2.19B | 2.25B |
Balance Sheet | |||||
| Total Assets | 33.65B | 39.40B | 38.02B | 36.23B | 28.35B |
| Cash, Cash Equivalents and Short-Term Investments | 1.51B | 2.16B | 1.66B | 1.55B | 10.44B |
| Total Debt | 10.90B | 11.50B | 12.18B | 12.23B | 9.66B |
| Total Liabilities | 17.34B | 18.00B | 18.62B | 18.41B | 13.77B |
| Stockholders Equity | 14.80B | 19.34B | 17.36B | 15.79B | 14.58B |
Cash Flow | |||||
| Free Cash Flow | 2.88B | 2.54B | 1.51B | 909.00M | 1.38B |
| Operating Cash Flow | 3.53B | 3.56B | 2.76B | 2.60B | 2.63B |
| Investing Cash Flow | -1.28B | -850.00M | -1.26B | -11.84B | -1.64B |
| Financing Cash Flow | -2.84B | -2.24B | -1.28B | 456.00M | 7.68B |
CSL Peers Comparison
UnderperformOutperform
Sector (51)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
81 Outperform | $64.12B | 37.92 | 21.66% | ― | 70.57% | 30.28% | |
80 Outperform | $85.82B | 19.46 | 13.81% | 0.55% | 9.29% | 0.38% | |
70 Outperform | $12.80B | 172.66 | 1.18% | ― | 13.69% | -89.03% | |
68 Neutral | $63.41B | -18.75 | -39.20% | ― | -27.62% | -6.22% | |
64 Neutral | $59.73B | -23.45 | -15.12% | 3.12% | 2.19% | -187.48% | |
54 Neutral | $28.65B | -14.13 | -9.16% | ― | -1.05% | -395.95% | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% |
* Healthcare Sector Average
CSLLY
CSL
31.26
-2.66
-7.83%
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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.