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

$107.51

12 Jun
2026

0.280

OPEN

$107.68

0.26%

HIGH

$110.17

1,951,556

LOW

$106.90

TARGET
$129.941 20.9% upside
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FNARENA'S MARKET CONSENSUS FORECASTS
CSL: 1
Title FY26
Forecast		 FY27
Forecast
EPS (cps) 939.7 xxx
DPS (cps) 427.1 xxx
EPS Growth N/A xxx
DPS Growth N/A xxx
PE Ratio 11.2 xxx
Dividend Yield 4.0% xxx
Div Pay Ratio(%) 45.5% 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: 1.49%

DIVIDEND YIELD CALCULATOR

Dividend Yield Today On Last Actual Payout :

 3.91

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-div 248.50c)

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

0.4

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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UBS

xx/xx/xxxx

1

xxx

$xx.xx

xx.xx%

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Citi

xx/xx/xxxx

3

xxxxxxx

$xx.xx

xx.xx%

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Morgan Stanley

12/05/2026

1

Overweight

$166.00

54.40%

CSL has downgraded revenue and net profit guidance for FY26 to US$15.2bn and US$3.1bn, respectively, in constant currency terms.

Lower albumin revenue was captured within Morgan Stanley's forecasts while immunoglobulin growth was weaker than expected.

The latter was due to a normalisation of US inventory which created a negative revenue impact of -US$300m.

The broker revises forecasts in light of the updated guidance and retains an Overweight rating, believing the current share price captures key assumptions incorporated in its bear case.

Target is reduced to $166 from $198. Industry View: In-Line.

FORECAST
Morgan Stanley forecasts a full year FY26 dividend of 407.62 cents and EPS of 948.75 cents.
Morgan Stanley forecasts a full year FY27 dividend of 410.57 cents and EPS of 997.05 cents.

Morgans

xx/xx/xxxx

1

xxx

$xx.xx

xx.xx%

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Macquarie

xx/xx/xxxx

3

xxxxxxx

$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

Canaccord Genuity

xx/xx/xxxx

3

xxxxxxxxx xx xxxx xxxx xxx

$xx.xx

xx.xx%

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Jarden

12/05/2026

3

Downgrade to Neutral from Overweight

$191.00

77.66%

Jarden downgrades CSL to a Neutral rating from Overweight and lowers its target price to $191.00 from $244.00 following an unexpected severe downgrade to FY26 profit guidance.

Management reduced constant currency net profit expectations to roughly US$3.1bn, reflecting "unrealistic" prior ambitions for key products including Ig and Albumin, the broker comments.

Misjudged pricing across the product suite is seen impacting both revenue and gross margins, setting up a multi-year turnaround story as competition increases and reimbursement cuts persist, according to the report.

While underlying value remains within the business, near-term catalysts for upside are viewed by the broker as notably absent.

Net profit forecasts have been cut by -8.9%, -16.0%, and -20.8% across the next three years, establishing earnings per share estimates of US580.2c in FY26, US584.6c in FY27, and US610.9c in FY28.

FORECAST
Jarden forecasts a full year FY26 EPS of 856.89 cents.
Jarden forecasts a full year FY27 EPS of 863.39 cents.
Access Extra Coverage Research History >

CSL STOCK CHART

FNArena News on CSL

Latest Pharmaceuticals & Biotech/Lifesciences News

1
CSL: Buy Trigger Ahead

Apr 26 2022 - Technicals
2
Why CSL Fell Sharply Yesterday

Dec 17 2021 - Australia
3
Beating The Biotech Blues

Sep 14 2021 - International
4
Uncertainty Prevails For CSL

Aug 19 2021 - Australia
5
Flying High – Medicinal Marijuana In Australia

Jul 26 2021 - Australia
6
Wesfarmers On Drugs?

Jul 13 2021 - Australia
7
Is CSL’s Plasma Recovery Now Priced In?

Jun 23 2021 - Australia
8
CSL: Buy The Dip

Jun 22 2021 - Technicals
9
CSL To Retest Its High?

May 25 2021 - Technicals
10
Treasure Chest: CSL Plasma At Turning Point?

May 05 2021 - Treasure Chest