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CDA (Codan) Stock Analysis
Buy, Hold or Sell?

Let's analyze Codan together

I guess you are interested in Codan Ltd. Buy, hold or sell? I don't know! However, I do recommend doing research before doing anything. I will help you with that.

  • πŸ“Š Fundamental Analysis (FA) – Codan’s Financial Insights
  • πŸ“ˆ Technical Analysis (TA) – Codan’s Price Targets

I'm going to help you getting a better view of Codan Ltd. At the end you don't have to ask anyone for trading advice. You can make your own decision, with more confidence, the odds in your favor, backed by data.

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1. Quick Overview

1.1. Quick analysis of Codan (30 sec.)










1.2. What can you expect buying and holding a share of Codan? (30 sec.)

How much money do you get?

How much money do you get?
A$0.52
When do you have the money?
1 year
How often do you get paid?
100.0%

What is your share worth?

Current worth
A$2.46
Expected worth in 1 year
A$3.34
How sure are you?
100.0%

+ What do you gain per year?

Total Gains per Share
A$1.68
Return On Investment
8.9%

For what price can you sell your share?

Current Price per Share
A$18.77
Expected price per share
A$16.74 - A$20.47
How sure are you?
50%
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2. Detailed Analysis

2.1. Valuation of Codan (5 min.)




Live pricePrice per Share (EOD)
A$18.77
Intrinsic Value Per Share
A$-2.66 - A$4.81
Total Value Per Share
A$-0.20 - A$7.27

2.2. Growth of Codan (5 min.)




Is Codan growing?

Current yearPrevious yearGrowGrow %
How rich?$292.3m$265.7m$26.5m9.1%

How much money is Codan making?

Current yearPrevious yearGrowGrow %
Making money$53.2m$44.3m$8.9m16.7%
Net Profit Margin14.8%14.8%--

How much money comes from the company's main activities?

2.3. Financial Health of Codan (5 min.)




2.4. Comparing to competitors in the Scientific & Technical Instruments industry (5 min.)




  Industry Rankings (Scientific & Technical Instruments)  


Richest
#41 / 145

Most Revenue
#14 / 145

Most Profit
#12 / 145
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3. Summary and Key Metrics

3.1. What can you expect buying and holding a share of Codan?

Welcome investor! Codan's management wants to use your money to grow the business. In return you get a share of Codan.

First you should know what it really means to hold a share of Codan. And how you can make/lose money.

Speculation

The Price per Share of Codan is A$18.77. The market price reflects what other people think it is worth; not what it's really worth. Your job is to find out if the market price is fair, overpriced, or underpriced. I will help you with that.

If you buy blind, there is a 50% chance of making or losing money by selling the stock in the future. However, we can look at a few things to determine the odds in our favor:

  • The fundamentals: the financial health trends of Codan.
  • The technials: based on market psychology, we can make a calculated estimate of what the price will do in the future. We can do this through technical analysis. We can calculate the probabilities and the expected value (millionaire math). That's called speculation.
  • The book value: what is the market price compared to it's book value.

Investing

If you really want to invest in Codan, you will have to let go of the thought of selling in the future. If you have to sell the share for less than you bought it, it can still be a good investment. Focus on what it means to hold the stock forever:

  • You own a part of the company. The equity of this part can grow or shrink. The current Book Value per Share is A$2.46. Based on the TTM, the Book Value Change Per Share is A$0.22 per quarter. Based on the YOY, the Book Value Change Per Share is A$0.21 per quarter.
  • You may receive quarterly/yearly dividend in the form of additional shares.
  • You may receive quarterly/yearly dividend in the form of cash. Based on the TTM the Dividend per Share is A$0.20 per quarter.
Based on historical numbers we can estimate the returns while holding a share of Codan.

How much money are you going to get?

 MRQTTMYOY3Y5Y10Y
 A$% of Price per ShareA$% of Price per ShareA$% of Price per ShareA$% of Price per ShareA$% of Price per ShareA$% of Price per Share
Usd Eps0.291.6%0.291.6%0.241.3%0.301.6%0.291.6%0.201.1%
Usd Book Value Change Per Share0.140.8%0.140.8%0.140.7%0.170.9%0.170.9%0.120.6%
Usd Dividend Per Share0.130.7%0.130.7%0.160.8%0.160.9%0.140.8%0.100.5%
Usd Total Gains Per Share0.271.5%0.271.5%0.291.6%0.331.8%0.311.7%0.221.2%
Usd Price Per Share7.87-7.87-5.25-5.89-6.82-4.14-
Price to Earnings Ratio26.87-26.87-21.51-20.31-23.47-18.45-
Price-to-Total Gains Ratio28.66-28.66-17.81-19.07-22.41-17.49-
Price to Book Ratio4.89-4.89-3.59-3.97-5.58-3.95-
Price-to-Total Gains Ratio28.66-28.66-17.81-19.07-22.41-17.49-

When do you get the money?

Usd Investment
$.00
Usd Price Per Share12.277457
Number of shares81
Gains per QuarterTrailing 12 Months5 Year
Usd Dividend Per Share0.130.14
Usd Book Value Change Per Share0.140.17
Usd Total Gains Per Share0.270.31
Gains per Quarter (81 shares)22.2425.33
Gains per Year (81 shares)88.95101.31
YearsReturn on Investment (TTM)Return on Investment (5Y)
 DividendBook Value gainTotal gainsDividendBook Value gainTotal gains
Broker costs---10---10
1424779465591
2859316893110192
3127140257139165293
4169187346186220394
5211233435232274495
6254280524279329596
7296327613325384697
8338373702371439798
9380420791418494899
104234678804645491000

How sure are you?

Based on the past periods, how sure are you to get value out of your investment.

Linear %
 Trailing 12 Months3Y5 Year10 YearALLTIME
  % % % % %
Earnings Per Share1.00.00.0100.0%3.00.00.0100.0%5.00.00.0100.0%10.00.00.0100.0%25.00.00.0100.0%
Book Value Change Per Share1.00.00.0100.0%3.00.00.0100.0%5.00.00.0100.0%10.00.00.0100.0%23.02.00.092.0%
Dividend per Share1.00.00.0100.0%3.00.00.0100.0%5.00.00.0100.0%10.00.00.0100.0%25.00.00.0100.0%
Total Gains per Share1.00.00.0100.0%3.00.00.0100.0%5.00.00.0100.0%10.00.00.0100.0%25.00.00.0100.0%
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3.2. Key Performance Indicators

The key performance indicators of Codan Ltd compared to the Most Recent Quarter (MRQ).

 End of day+/-Most Recent QuarterTrailing 12 Months+/-Year-Over-Year+/-3Y+/-5 Year+/-10 Year+/-
Book Value Change Per Share--0.2200.2200%0.211+4%0.262-16%0.259-15%0.180+23%
Book Value Per Share--2.4582.4580%2.238+10%2.241+10%1.951+26%1.434+71%
Current Ratio--1.6661.6660%1.693-2%1.675-1%1.6710%1.686-1%
Debt To Asset Ratio--0.4190.4190%0.414+1%0.403+4%0.381+10%0.341+23%
Debt To Equity Ratio--0.7190.7190%0.706+2%0.677+6%0.622+16%0.532+35%
Dividend Per Share--0.1990.1990%0.239-17%0.244-18%0.219-9%0.152+31%
Enterprise Value--1885181776.1701885181776.1700%1194710194.240+58%1381087728.697+36%1703212181.410+11%1029602493.617+83%
Eps--0.4480.4480%0.373+20%0.459-2%0.445+1%0.310+44%
Ev To Ebitda Ratio--12.81612.8160%9.904+29%9.752+31%11.896+8%9.046+42%
Ev To Sales Ratio--3.4253.4250%2.617+31%2.714+26%3.779-9%2.686+27%
Free Cash Flow Per Share--0.3060.3060%0.333-8%0.296+3%0.427-28%0.348-12%
Free Cash Flow To Equity Per Share--0.1830.1830%0.193-5%0.148+23%0.285-36%0.202-9%
Gross Profit Margin---0.311-0.3110%-0.323+4%-0.139-55%0.038-914%-0.252-19%
Intrinsic Value_10Y_max--4.812----------
Intrinsic Value_10Y_min---2.661----------
Intrinsic Value_1Y_max--0.440----------
Intrinsic Value_1Y_min--0.156----------
Intrinsic Value_3Y_max--1.354----------
Intrinsic Value_3Y_min--0.105----------
Intrinsic Value_5Y_max--2.308----------
Intrinsic Value_5Y_min---0.344----------
Market Cap3408087820.160+36%2187257776.1702187257776.1700%1458015194.240+50%1636335728.697+34%1894014181.410+15%1149277193.617+90%
Net Profit Margin--0.1480.1480%0.1480%0.165-10%0.177-17%0.161-8%
Operating Margin--0.2070.2070%0.201+3%0.227-9%0.256-19%0.225-8%
Operating Ratio--0.8260.8260%0.799+3%0.784+5%0.750+10%0.776+6%
Pb Ratio7.636+36%4.8944.8940%3.588+36%3.972+23%5.581-12%3.953+24%
Pe Ratio41.932+36%26.87526.8750%21.513+25%20.311+32%23.469+15%18.453+46%
Price Per Share18.770+36%12.03012.0300%8.030+50%9.007+34%10.428+15%6.328+90%
Price To Free Cash Flow Ratio61.307+36%39.29339.2930%24.097+63%30.463+29%26.018+51%17.170+129%
Price To Total Gains Ratio44.722+36%28.66328.6630%17.811+61%19.070+50%22.407+28%17.485+64%
Quick Ratio--0.7310.7310%0.707+3%0.714+2%0.854-14%0.873-16%
Return On Assets--0.1060.1060%0.098+8%0.125-15%0.147-28%0.139-24%
Return On Equity--0.1820.1820%0.167+9%0.207-12%0.236-23%0.209-13%
Total Gains Per Share--0.4200.4200%0.451-7%0.506-17%0.478-12%0.331+27%
Usd Book Value--292338221.200292338221.2000%265783723.500+10%266267321.433+10%231836064.320+26%170309717.660+72%
Usd Book Value Change Per Share--0.1440.1440%0.138+4%0.171-16%0.169-15%0.117+23%
Usd Book Value Per Share--1.6081.6080%1.464+10%1.466+10%1.276+26%0.938+71%
Usd Dividend Per Share--0.1300.1300%0.157-17%0.160-18%0.143-9%0.099+31%
Usd Enterprise Value--1233097399.7931233097399.7930%781459938.052+58%903369483.340+36%1114071087.860+11%673462991.075+83%
Usd Eps--0.2930.2930%0.244+20%0.300-2%0.291+1%0.203+44%
Usd Free Cash Flow--36411130.60036411130.6000%39576974.600-8%35169866.833+4%50755674.420-28%41383664.210-12%
Usd Free Cash Flow Per Share--0.2000.2000%0.218-8%0.194+3%0.279-28%0.228-12%
Usd Free Cash Flow To Equity Per Share--0.1200.1200%0.126-5%0.097+23%0.186-36%0.132-9%
Usd Market Cap2229230243.167+36%1430685311.3931430685311.3930%953687738.552+50%1070327200.140+34%1238874676.060+15%751742212.345+90%
Usd Price Per Share12.277+36%7.8697.8690%5.252+50%5.891+34%6.821+15%4.139+90%
Usd Profit--53235236.70053235236.7000%44330973.400+20%54485875.900-2%52856905.260+1%36812813.410+45%
Usd Revenue--360055231.900360055231.9000%298575718.800+21%329900131.733+9%300642413.160+20%218362193.010+65%
Usd Total Gains Per Share--0.2750.2750%0.295-7%0.331-17%0.313-12%0.217+27%
 EOD+4 -4MRQTTM+0 -0YOY+22 -183Y+18 -225Y+15 -2510Y+21 -19

3.3 Fundamental Score

Let's check the fundamental score of Codan Ltd based on Penke's default stock scanner.

Penke's Stock Scanner

  
  
IndicatorConditionValue
Price to Earnings Ratio (EOD)Between0-1541.932
Price to Book Ratio (EOD)Between0-17.636
Net Profit Margin (MRQ)Greater than00.148
Operating Margin (MRQ)Greater than00.207
Quick Ratio (MRQ)Greater than10.731
Current Ratio (MRQ)Greater than11.666
Debt to Asset Ratio (MRQ)Less than10.419
Debt to Equity Ratio (MRQ)Less than10.719
Return on Equity (MRQ)Greater than0.150.182
Return on Assets (MRQ)Greater than0.050.106
Total7/10 (70.0%)

3.4 Technical Score

Let's check the technical score of Codan Ltd based on Penke's default Symbol scanner.

Penke's Symbol Scanner

  
  
IndicatorConditionValue
RsiGreater than5043.302
Ma 20Greater thanMa 5019.704
Ma 50Greater thanMa 10018.292
Ma 100Greater thanMa 20016.820
OpenGreater thanClose19.000
Total4/5 (80.0%)

4. In-depth Analysis

4.1 About Codan Ltd

Codan Limited develops technology solutions for United Nations organizations, security and military groups, government departments, individuals, and small-scale miners. It operates through Communications and Metal Detection segments. The Communications segment designs, develops, manufactures, and markets communication equipment that consists of DTC radio solutions for the wireless transmission of video and other data applications; and Zetron communications solutions. The Metal Detection segment designs, develops, manufactures, and markets metal detection equipment, such as handheld metal detecting technologies for recreational, gold mining, demining, and military markets. The company sells its products through a network of dealers, distributors, and agents in Australia, Canada, Denmark, the United Kingdom, the United States, Brazil, India, Ireland, Mexico, Singapore, the United Arab Emirates, and internationally. Codan Limited was incorporated in 1959 and is headquartered in Mawson Lakes, Australia.

Fundamental data was last updated by Penke on 2025-07-09 10:25:04.

4.2 In-depth Summary

4.2.1. Financial Health Summary

Profitability Details
 Compared to previous yearCompared to industry
The company is making a huge profit.
Using its assets, the company is efficient in making profit.
Using its investors money, the company is efficient in making profit.
Operating Efficiency Details
 Compared to previous yearCompared to industry
The company is operating efficient.
The company is less efficient in keeping operating costs low.
Liquidity Details
 Compared to previous yearCompared to industry
The company is able to pay all its short-term debts.
The company is just not able to pay all its short-term debts with the most liquid assets.
Solvency Details
 Compared to previous yearCompared to industry
The company is very able to pay all its debts by selling its assets.
The company is very able to pay all its debts with equity.

4.2.2. Valuation Summary

Valuation Details
 Compared to previous yearCompared to industry
Based on the equity, the company is fair priced.
Based on the earnings, the company is overpriced.
Based on how much money comes from the company's main activities, the company is fair priced.
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4.3 Financial Health

4.3.1. Profitability

4.3.1 Profitability
4.3.1.1. Net Profit Margin

Measures how much net profitΒ Codan earns for each $1 of revenue.

  • Above 10% is considered healthy but always compareΒ Codan to theΒ Scientific & Technical Instruments industry mean.
  • A Net Profit Margin of 14.8%Β means thatΒ $0.15 for each $1Β in revenue is generated as profit.

Let's take a look of the Net Profit Margin trends of Codan Ltd:

  • The MRQ is 14.8%. The company is making a huge profit. +2
  • The TTM is 14.8%. The company is making a huge profit. +2
Trends
Current periodCompared to+/- 
MRQ14.8%TTM14.8%0.0%
TTM14.8%YOY14.8%-0.1%
TTM14.8%5Y17.7%-2.9%
5Y17.7%10Y16.1%+1.7%
Compared to industry (Scientific & Technical Instruments)
PeriodCompanyIndustry (mean)+/- 
MRQ14.8%2.1%+12.7%
TTM14.8%3.7%+11.1%
YOY14.8%3.9%+10.9%
3Y16.5%3.8%+12.7%
5Y17.7%4.5%+13.2%
10Y16.1%5.1%+11.0%
4.3.1.2. Return on Assets

Shows howΒ efficientΒ Codan is using its assets to generate profit.

  • Above 5% is considered healthyΒ but always compareΒ Codan to theΒ Scientific & Technical Instruments industry mean.
  • 10.6% Return on Assets means thatΒ Codan generatedΒ $0.11 profit for each $1 in assets.

Let's take a look of the Return on Assets trends of Codan Ltd:

  • The MRQ is 10.6%. Using its assets, the company is efficient in making profit. +1
  • The TTM is 10.6%. Using its assets, the company is efficient in making profit. +1
Trends
Current periodCompared to+/- 
MRQ10.6%TTM10.6%0.0%
TTM10.6%YOY9.8%+0.8%
TTM10.6%5Y14.7%-4.1%
5Y14.7%10Y13.9%+0.9%
Compared to industry (Scientific & Technical Instruments)
PeriodCompanyIndustry (mean)+/- 
MRQ10.6%0.2%+10.4%
TTM10.6%0.5%+10.1%
YOY9.8%0.6%+9.2%
3Y12.5%0.7%+11.8%
5Y14.7%0.8%+13.9%
10Y13.9%1.1%+12.8%
4.3.1.3. Return on Equity

Shows how efficient Codan is using its investors money to generate profit.

  • Above 15%-20% is considered healthy but always compareΒ Codan to theΒ Scientific & Technical Instruments industry mean.
  • 18.2% Return on Equity means Codan generated $0.18Β for eachΒ $1 the owners (shareholders) invested.

Let's take a look of the Return on Equity trends of Codan Ltd:

  • The MRQ is 18.2%. Using its investors money, the company is efficient in making profit. +1
  • The TTM is 18.2%. Using its investors money, the company is efficient in making profit. +1
Trends
Current periodCompared to+/- 
MRQ18.2%TTM18.2%0.0%
TTM18.2%YOY16.7%+1.5%
TTM18.2%5Y23.6%-5.4%
5Y23.6%10Y20.9%+2.7%
Compared to industry (Scientific & Technical Instruments)
PeriodCompanyIndustry (mean)+/- 
MRQ18.2%0.4%+17.8%
TTM18.2%0.9%+17.3%
YOY16.7%1.2%+15.5%
3Y20.7%1.2%+19.5%
5Y23.6%1.6%+22.0%
10Y20.9%1.7%+19.2%
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4.3.2. Operating Efficiency of Codan Ltd.

4.3.2. Operating Efficiency
4.3.2.1. Operating Margin

MeasuresΒ how efficient Codan is operatingΒ .

  • Measures how much profit Codan makes for each $1 of sales after paying variable costs (production costs, wages, etc) but before taxes.
  • Above 15% is considered healthy but always compareΒ Codan to theΒ Scientific & Technical Instruments industry mean.
  • An Operating Margin of 20.7%Β means the company generated $0.21 Β for each $1 in revenue (before taxes).

Let's take a look of the Operating Margin trends of Codan Ltd:

  • The MRQ is 20.7%. The company is operating efficient. +1
  • The TTM is 20.7%. The company is operating efficient. +1
Trends
Current periodCompared to+/- 
MRQ20.7%TTM20.7%0.0%
TTM20.7%YOY20.1%+0.6%
TTM20.7%5Y25.6%-4.9%
5Y25.6%10Y22.5%+3.1%
Compared to industry (Scientific & Technical Instruments)
PeriodCompanyIndustry (mean)+/- 
MRQ20.7%4.8%+15.9%
TTM20.7%4.1%+16.6%
YOY20.1%2.5%+17.6%
3Y22.7%2.7%+20.0%
5Y25.6%4.6%+21.0%
10Y22.5%4.9%+17.6%
4.3.2.2. Operating Ratio

Measures how efficient Codan is keepingΒ operating costsΒ low.

  • Below 1 is considered healthy (always compare toΒ Scientific & Technical Instruments industry mean).
  • An Operation Ratio of 0.83 means that the operating costs are $0.83 for each $1 in net sales.

Let's take a look of the Operating Ratio trends of Codan Ltd:

  • The MRQ is 0.826. The company is less efficient in keeping operating costs low.
  • The TTM is 0.826. The company is less efficient in keeping operating costs low.
Trends
Current periodCompared to+/- 
MRQ0.826TTM0.8260.000
TTM0.826YOY0.799+0.027
TTM0.8265Y0.750+0.076
5Y0.75010Y0.776-0.026
Compared to industry (Scientific & Technical Instruments)
PeriodCompanyIndustry (mean)+/- 
MRQ0.8261.440-0.614
TTM0.8261.407-0.581
YOY0.7991.272-0.473
3Y0.7841.319-0.535
5Y0.7501.297-0.547
10Y0.7761.181-0.405
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4.4.3. Liquidity of Codan Ltd.

4.4.3. Liquidity
4.4.3.1. Current Ratio

Measures if Codan is able to pay off Short-term Debt.

  • Above 1.5 is considered healthy (always compare toΒ Scientific & Technical Instruments industry mean).
  • A Current Ratio of 1.67Β means the company has $1.67 in assets for each $1 in short-term debts.

Let's take a look of the Current Ratio trends of Codan Ltd:

  • The MRQ is 1.666. The company is able to pay all its short-term debts. +1
  • The TTM is 1.666. The company is able to pay all its short-term debts. +1
Trends
Current periodCompared to+/- 
MRQ1.666TTM1.6660.000
TTM1.666YOY1.693-0.027
TTM1.6665Y1.671-0.005
5Y1.67110Y1.686-0.015
Compared to industry (Scientific & Technical Instruments)
PeriodCompanyIndustry (mean)+/- 
MRQ1.6662.277-0.611
TTM1.6662.275-0.609
YOY1.6932.500-0.807
3Y1.6752.557-0.882
5Y1.6712.596-0.925
10Y1.6862.676-0.990
4.4.3.2. Quick Ratio

Measures if Codan is able to pay off Short-term Debt but only usingΒ theΒ most liquid assets.

  • Above 1 is considered healthy butΒ always compareΒ Codan to theΒ Scientific & Technical Instruments industry mean.
  • A Quick Ratio of 0.73Β means the company can pay off $0.73 for each $1 in debt (using most liquid assets).

Let's take a look of the Quick Ratio trends of Codan Ltd:

  • The MRQ is 0.731. The company is just not able to pay all its short-term debts with the most liquid assets. -1
  • The TTM is 0.731. The company is just not able to pay all its short-term debts with the most liquid assets. -1
Trends
Current periodCompared to+/- 
MRQ0.731TTM0.7310.000
TTM0.731YOY0.707+0.024
TTM0.7315Y0.854-0.123
5Y0.85410Y0.873-0.019
Compared to industry (Scientific & Technical Instruments)
PeriodCompanyIndustry (mean)+/- 
MRQ0.7310.944-0.213
TTM0.7311.101-0.370
YOY0.7071.338-0.631
3Y0.7141.312-0.598
5Y0.8541.428-0.574
10Y0.8731.649-0.776
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4.5.4. Solvency of Codan Ltd.

4.5.4. Solvency
4.5.4.1. Debt to Asset Ratio

Measures how much %Β of CodanΒ assets are financed with debt.

  • Below 1 (100%) is considered healthy but always compareΒ Codan to Scientific & Technical Instruments industry mean.
  • A Debt to Asset Ratio of 0.42Β means that Codan assets areΒ financed with 41.9% credit (debt) and the remaining percentage (100% - 41.9%)Β is financed by its owners/shareholders.Β 

Let's take a look of the Debt to Asset Ratio trends of Codan Ltd:

  • The MRQ is 0.419. The company is very able to pay all its debts by selling its assets. +2
  • The TTM is 0.419. The company is very able to pay all its debts by selling its assets. +2
Trends
Current periodCompared to+/- 
MRQ0.419TTM0.4190.000
TTM0.419YOY0.414+0.005
TTM0.4195Y0.381+0.038
5Y0.38110Y0.341+0.039
Compared to industry (Scientific & Technical Instruments)
PeriodCompanyIndustry (mean)+/- 
MRQ0.4190.355+0.064
TTM0.4190.359+0.060
YOY0.4140.348+0.066
3Y0.4030.354+0.049
5Y0.3810.343+0.038
10Y0.3410.340+0.001
4.5.4.2. Debt to Equity Ratio

Measures ifΒ Codan is able toΒ pay off its debts by usingΒ shareholders equity.

  • Below 2 is considered healthy butΒ always compareΒ Codan to theΒ Scientific & Technical Instruments industry mean.
  • A Debt to Equity ratio of 71.9% means that company has $0.72 debt for each $1 in shareholders equity.

Let's take a look of the Debt to Equity Ratio trends of Codan Ltd:

  • The MRQ is 0.719. The company is very able to pay all its debts with equity. +2
  • The TTM is 0.719. The company is very able to pay all its debts with equity. +2
Trends
Current periodCompared to+/- 
MRQ0.719TTM0.7190.000
TTM0.719YOY0.706+0.014
TTM0.7195Y0.622+0.098
5Y0.62210Y0.532+0.089
Compared to industry (Scientific & Technical Instruments)
PeriodCompanyIndustry (mean)+/- 
MRQ0.7190.530+0.189
TTM0.7190.567+0.152
YOY0.7060.523+0.183
3Y0.6770.542+0.135
5Y0.6220.518+0.104
10Y0.5320.525+0.007
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4.6. Market Valuation

4.6.1. Earnings Per Share
4.6.2.1. Price to Earnings Ratio

MeasuresΒ how much money you payΒ for each share forΒ every $1 in earnings Codan generates.

  • Above 15 is considered overpriced butΒ always compareΒ Codan to theΒ Scientific & Technical Instruments industry mean.
  • A PE ratio of 26.87 means the investor is paying $26.87Β for every $1 in earnings.

Let's take a look of the Price to Earnings Ratio trends of Codan Ltd:

  • The EOD is 41.932. Based on the earnings, the company is overpriced. -1
  • The MRQ is 26.875. Based on the earnings, the company is overpriced. -1
  • The TTM is 26.875. Based on the earnings, the company is overpriced. -1
Trends
Current periodCompared to+/- 
EOD41.932MRQ26.875+15.057
MRQ26.875TTM26.8750.000
TTM26.875YOY21.513+5.362
TTM26.8755Y23.469+3.406
5Y23.46910Y18.453+5.016
Compared to industry (Scientific & Technical Instruments)
PeriodCompanyIndustry (mean)+/- 
EOD41.93217.041+24.891
MRQ26.87515.558+11.317
TTM26.87515.658+11.217
YOY21.51318.630+2.883
3Y20.31114.779+5.532
5Y23.46915.516+7.953
10Y18.45326.587-8.134
4.6.2.2. Price To Free Cash Flow Ratio

Let's take a look of the Price To Free Cash Flow Ratio trends of Codan Ltd:

  • The EOD is 61.307. Based on how much money comes from the company's main activities, the company is overpriced. -1
  • The MRQ is 39.293. Based on how much money comes from the company's main activities, the company is fair priced.
  • The TTM is 39.293. Based on how much money comes from the company's main activities, the company is fair priced.
Trends
Current periodCompared to+/- 
EOD61.307MRQ39.293+22.014
MRQ39.293TTM39.2930.000
TTM39.293YOY24.097+15.195
TTM39.2935Y26.018+13.275
5Y26.01810Y17.170+8.848
Compared to industry (Scientific & Technical Instruments)
PeriodCompanyIndustry (mean)+/- 
EOD61.307-0.429+61.736
MRQ39.293-1.120+40.413
TTM39.2936.753+32.540
YOY24.0970.097+24.000
3Y30.4630.143+30.320
5Y26.018-0.649+26.667
10Y17.1702.757+14.413
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4.6.2. Book Value per Share
4.6.2.1. Price to Book Ratio

Measures if the stock price ofΒ Codan is to cheap or to expensiveΒ compared to its book value.

  • At or below 1 is considered healthyΒ (always compare to Scientific & Technical Instruments industry mean).
  • A PB ratio of 4.89 means the investor is paying $4.89Β for each $1 in book value.

Let's take a look of the Price to Book Ratio trends of Codan Ltd:

  • The EOD is 7.636. Based on the equity, the company is overpriced. -1
  • The MRQ is 4.894. Based on the equity, the company is fair priced.
  • The TTM is 4.894. Based on the equity, the company is fair priced.
Trends
Current periodCompared to+/- 
EOD7.636MRQ4.894+2.742
MRQ4.894TTM4.8940.000
TTM4.894YOY3.588+1.306
TTM4.8945Y5.581-0.687
5Y5.58110Y3.953+1.628
Compared to industry (Scientific & Technical Instruments)
PeriodCompanyIndustry (mean)+/- 
EOD7.6363.126+4.510
MRQ4.8942.854+2.040
TTM4.8942.716+2.178
YOY3.5882.683+0.905
3Y3.9722.744+1.228
5Y5.5813.147+2.434
10Y3.9533.9530.000
4.6.2. Total Gains per Share

4.7 Holders & Insider Transactions

Let's take a look at which institutions, funds and insiders are holding shares of Codan Ltd.

4.8.2. Funds holding Codan Ltd

DateNameTotal SharesTotal AssetsCurrent SharesChange%
2020-10-31Vanguard International Stock Index-Total Intl Stock Indx0.69999998-1263283--
2020-12-31Vanguard Tax Managed Fund-Vanguard Developed Markets Index Fund0.43-777658--
2021-01-31DFA Asia Pacific Small Company Series0.37-670501--
2021-01-31DFA International Core Equity Portfolio0.33000002-587540--
2021-02-28iShares Core MSCI EAFE ETF0.27-479789--
2021-02-28iShares MSCI EAFE Small Cap ETF0.23999999-431764--
2020-12-31Oberweis International Opportunities Institutional Fund0.23-409999--
2021-01-31Goldman Sachs International Small Cap Insights Fund0.22-403510--
2020-10-31Vanguard Intl Equity Index Fds-FTSE All World ex U.S.Small Cap Index0.18000001-333396--
2021-02-28WisdomTree Tr-WisdomTree International Small Cap Dividend Fd0.14-256600--
Total 3.110561404000.0%
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5. Financial Statements




5.1. Reversals in quarterly reports

I have detected a reversal (positive to negative, negative to positive) in the following values of the quarterly reports.

 2020-06-302021-06-302022-06-302023-06-302024-06-30
Long-term Assets Other  -83,816-137,039-220,855-19,568-240,423-22,553-262,976393,601130,625



5.2. Latest Balance Sheet

Balance Sheet of 2024-06-30. Currency in AUD. All numbers in thousands.

Summary
Total Assets768,711
Total Liabilities321,779
Total Stockholder Equity447,386
 As reported
Total Liabilities 321,779
Total Stockholder Equity+ 447,386
Total Assets = 768,711

Assets

Total Assets768,711
Total Current Assets258,906
Long-term Assets509,805
Total Current Assets
Cash And Cash Equivalents 19,703
Net Receivables 93,883
Inventory 110,069
Other Current Assets 35,251
Total Current Assets  (as reported)258,906
Total Current Assets  (calculated)258,906
+/-0
Long-term Assets
Property Plant Equipment 74,588
Goodwill 291,856
Intangible Assets 12,736
Long-term Assets Other 130,625
Long-term Assets  (as reported)509,805
Long-term Assets  (calculated)509,805
+/-0

Liabilities & Shareholders' Equity

Total Current Liabilities155,401
Long-term Liabilities166,378
Total Stockholder Equity447,386
Total Current Liabilities
Short-term Debt 6,689
Accounts payable 49,559
Other Current Liabilities 90,532
Total Current Liabilities  (as reported)155,401
Total Current Liabilities  (calculated)146,780
+/- 8,621
Long-term Liabilities
Long term Debt 95,125
Capital Lease Obligations 45,921
Long-term Liabilities  (as reported)166,378
Long-term Liabilities  (calculated)141,046
+/- 25,332
Total Stockholder Equity
Common Stock50,319
Retained Earnings 304,204
Accumulated Other Comprehensive Income 92,863
Total Stockholder Equity (as reported)447,386
Total Stockholder Equity (calculated)447,386
+/-0
Other
Capital Stock50,319
Cash and Short Term Investments 19,703
Common Stock Shares Outstanding 181,817
Current Deferred Revenue29,681
Liabilities and Stockholders Equity 768,711
Net Debt 121,343
Net Invested Capital 542,057
Net Working Capital 103,505
Property Plant and Equipment Gross 282,805
Short Long Term Debt Total 141,046



5.3. Balance Sheets Structured

Currency in AUD. All numbers in thousands.

 Trend2024-06-302023-06-302022-06-302021-06-302020-06-302019-06-302018-06-302017-06-302016-06-302015-06-302014-06-302013-06-302012-06-302011-06-302010-06-302009-06-302008-06-302007-06-302006-06-302005-06-302004-06-302003-06-302002-06-302001-06-302000-06-30
> Total Assets 
76,335
85,963
80,994
90,100
95,106
105,730
104,580
94,906
156,813
162,564
163,238
147,426
170,283
211,538
212,429
208,669
212,466
232,675
254,302
274,317
351,566
502,845
590,932
693,301
768,711
768,711693,301590,932502,845351,566274,317254,302232,675212,466208,669212,429211,538170,283147,426163,238162,564156,81394,906104,580105,73095,10690,10080,99485,96376,335
   > Total Current Assets 
0
0
0
37,800
42,626
41,449
42,585
37,574
46,013
46,893
61,201
48,519
61,873
75,581
69,429
60,967
68,692
80,295
95,398
102,507
157,500
152,478
203,495
234,291
258,906
258,906234,291203,495152,478157,500102,50795,39880,29568,69260,96769,42975,58161,87348,51961,20146,89346,01337,57442,58541,44942,62637,800000
       Cash And Cash Equivalents 
2,088
3,923
6,445
1,900
11,140
1,522
1,336
5,862
5,417
13,895
21,745
8,643
23,081
8,638
13,031
7,156
14,333
21,421
27,711
37,521
92,830
22,362
22,613
23,661
19,703
19,70323,66122,61322,36292,83037,52127,71121,42114,3337,15613,0318,63823,0818,64321,74513,8955,4175,8621,3361,52211,1401,9006,4453,9232,088
       Net Receivables 
15,629
15,967
15,074
14,700
14,391
22,849
22,658
15,724
18,840
16,671
12,529
15,150
23,530
21,363
23,253
20,909
19,378
20,489
29,875
19,666
26,758
38,558
63,220
74,188
93,883
93,88374,18863,22038,55826,75819,66629,87520,48919,37820,90923,25321,36323,53015,15012,52916,67118,84015,72422,65822,84914,39114,70015,07415,96715,629
       Other Current Assets 
873
1,607
915
10,300
4,864
1,667
1,318
1,866
1,616
1,414
1,813
1,406
3,283
2,244
3,248
2,267
6,830
7,358
6,564
8,617
5,306
28,788
15,174
15,041
35,251
35,25115,04115,17428,7885,3068,6176,5647,3586,8302,2673,2482,2443,2831,4061,8131,4141,6161,8661,3181,6674,86410,3009151,607873
   > Long-term Assets 
0
0
0
52,300
52,480
64,281
61,995
57,332
110,800
115,671
102,037
98,907
108,410
135,957
108,121
105,273
98,438
98,191
99,074
101,953
194,066
350,367
387,437
459,010
509,805
509,805459,010387,437350,367194,066101,95399,07498,19198,438105,273108,121135,957108,41098,907102,037115,671110,80057,33261,99564,28152,48052,300000
       Property Plant Equipment 
17,909
18,733
18,108
27,800
29,495
41,730
36,031
32,215
37,552
38,427
40,090
41,031
41,524
47,438
20,128
16,019
10,799
11,985
12,489
14,126
39,543
44,569
44,799
76,262
74,588
74,58876,26244,79944,56939,54314,12612,48911,98510,79916,01920,12847,43841,52441,03140,09038,42737,55232,21536,03141,73029,49527,80018,10818,73317,909
       Goodwill 
19,710
18,475
17,388
21,300
19,457
19,226
20,913
20,913
69,378
73,504
58,457
53,957
62,748
83,130
82,396
83,525
83,274
82,529
82,978
84,280
83,816
220,855
240,423
263,576
291,856
291,856263,576240,423220,85583,81684,28082,97882,52983,27483,52582,39683,13062,74853,95758,45773,50469,37820,91320,91319,22619,45721,30017,38818,47519,710
       Intangible Assets 
19,710
18,475
17,388
21,339
19,457
19,226
4,975
4,126
3,778
3,664
3,440
3,919
4,138
5,389
5,597
5,729
4,365
3,677
3,607
3,547
154,523
305,798
342,638
382,148
12,736
12,736382,148342,638305,798154,5233,5473,6073,6774,3655,7295,5975,3894,1383,9193,4403,6643,7784,1264,97519,22619,45721,33917,38818,47519,710
       Long-term Assets Other 
0
0
0
3,000
72
0
0
0
0
0
0
0
0
-108,459
-108,121
-105,273
-98,438
-98,191
-99,074
-101,953
-83,816
-220,855
-240,423
-262,976
130,625
130,625-262,976-240,423-220,855-83,816-101,953-99,074-98,191-98,438-105,273-108,121-108,45900000000723,000000
> Total Liabilities 
57,022
64,607
55,827
43,100
33,820
37,152
35,346
24,383
94,769
98,592
98,192
75,547
90,874
86,806
92,138
80,315
73,544
67,680
66,237
63,103
104,223
199,235
222,976
286,966
321,779
321,779286,966222,976199,235104,22363,10366,23767,68073,54480,31592,13886,80690,87475,54798,19298,59294,76924,38335,34637,15233,82043,10055,82764,60757,022
   > Total Current Liabilities 
28,855
27,835
29,976
31,800
27,329
29,145
31,413
20,409
23,877
21,566
41,090
35,732
45,974
51,376
29,907
31,969
39,205
59,922
59,702
53,829
70,936
137,534
122,197
138,361
155,401
155,401138,361122,197137,53470,93653,82959,70259,92239,20531,96929,90751,37645,97435,73241,09021,56623,87720,40931,41329,14527,32931,80029,97627,83528,855
       Short-term Debt 
0
0
0
1,400
343
3,395
12,927
2,363
6
10
0
0
113
201
33
36
13
0
0
3,775
-8,183
-7,835
-2,214
5,988
6,689
6,6895,988-2,214-7,835-8,1833,77500133633201113001062,36312,9273,3953431,400000
       Short Long Term Debt 
0
0
0
0
0
0
0
0
0
0
0
0
0
0
59,980
42,541
26,935
0
0
0
0
0
0
0
0
0000000026,93542,54159,98000000000000000
       Accounts payable 
4,541
5,005
7,145
15,100
7,001
12,017
9,508
7,428
10,004
7,938
14,555
12,191
14,884
13,909
11,670
11,935
9,655
18,918
25,693
22,634
21,548
42,423
41,705
46,913
49,559
49,55946,91341,70542,42321,54822,63425,69318,9189,65511,93511,67013,90914,88412,19114,5557,93810,0047,4289,50812,0177,00115,1007,1455,0054,541
       Other Current Liabilities 
8,721
11,343
14,588
9,200
19,985
13,733
8,978
10,618
13,867
13,618
26,535
23,541
30,977
37,266
18,204
19,998
27,360
24,868
27,952
29,560
21,697
58,591
62,288
78,021
90,532
90,53278,02162,28858,59121,69729,56027,95224,86827,36019,99818,20437,26630,97723,54126,53513,61813,86710,6188,97813,73319,9859,20014,58811,3438,721
   > Long-term Liabilities 
0
0
0
11,300
6,491
8,007
3,933
3,974
70,892
77,026
57,102
39,815
44,900
35,430
59,898
42,492
26,922
15,611
6,535
9,274
33,287
61,701
100,779
148,605
166,378
166,378148,605100,77961,70133,2879,2746,53515,61126,92242,49259,89835,43044,90039,81557,10277,02670,8923,9743,9338,0076,49111,300000
       Long term Debt Total 
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
42,505
26,922
0
0
0
26,779
49,170
77,651
119,403
0
0119,40377,65149,17026,77900026,92242,505000000000000000
       Capital Lease Obligations Min Short Term Debt
0
0
0
-1,400
-343
-3,395
-12,927
-2,363
-6
-10
0
0
-113
-201
-33
-36
0
0
0
-3,775
38,737
39,955
32,457
44,023
39,232
39,23244,02332,45739,95538,737-3,775000-36-33-201-11300-10-6-2,363-12,927-3,395-343-1,400000
       Deferred Long Term Liability 
0
0
0
0
0
0
0
0
0
0
0
0
0
0
34,879
42,429
45,336
54,189
59,830
69,857
67,777
74,569
92,261
108,174
0
0108,17492,26174,56967,77769,85759,83054,18945,33642,42934,87900000000000000
> Total Stockholder Equity
19,314
21,356
25,168
47,000
61,286
68,578
69,234
70,523
62,044
63,972
65,046
71,879
79,409
124,732
120,291
128,354
139,012
165,087
188,184
211,342
247,303
303,724
368,276
406,700
447,386
447,386406,700368,276303,724247,303211,342188,184165,087139,012128,354120,291124,73279,40971,87965,04663,97262,04470,52369,23468,57861,28647,00025,16821,35619,314
   Common Stock
3,469
3,469
3,469
21,400
23,046
23,046
23,685
23,685
23,685
24,849
25,328
24,609
24,839
41,873
41,560
41,856
139,012
165,087
188,184
211,342
44,746
45,842
47,059
49,196
50,319
50,31949,19647,05945,84244,746211,342188,184165,087139,01241,85641,56041,87324,83924,60925,32824,84923,68523,68523,68523,04623,04621,4003,4693,4693,469
   Retained Earnings 
15,756
17,746
21,562
25,500
38,223
45,621
45,733
46,439
36,915
38,388
41,292
49,132
57,505
47,906
76,737
83,834
33,364
59,155
81,137
99,929
135,869
187,297
234,786
259,080
304,204
304,204259,080234,786187,297135,86999,92981,13759,15533,36483,83476,73747,90657,50549,13241,29238,38836,91546,43945,73345,62138,22325,50021,56217,74615,756
   Capital Surplus 0000000000000000000000000
   Treasury Stock0000000000000000000000000
   Other Stockholders Equity 
0
0
0
0
0
0
0
0
0
0
0
0
0
280
-48,481
-59,080
-96,407
-58,981
-59,100
-58,981
58,941
-292,120
-340,506
0
0
00-340,506-292,12058,941-58,981-59,100-58,981-96,407-59,080-48,4812800000000000000



5.4. Balance Sheets

Currency in AUD. All numbers in thousands.




5.5. Cash Flows

Currency in AUD. All numbers in thousands.




5.6. Income Statements

Currency in AUD. All numbers in thousands.


5.7. Latest Income Statement

Income Statement (annual), 2024-06-30. Currency in AUD. All numbers in thousands.

Gross Profit (+$)
totalRevenue550,459
Cost of Revenue-245,234
Gross Profit305,225305,225
 
Operating Income (+$)
Gross Profit305,225
Operating Expense-209,324
Operating Income95,90195,901
 
Operating Expense (+$)
Research Development54,522
Selling General Administrative48,122
Selling And Marketing Expenses106,680
Operating Expense209,324209,324
 
Net Interest Income (+$)
Interest Income0
Interest Expense-9,437
Other Finance Cost-1,461
Net Interest Income-10,898
 
Pretax Income (+$)
Operating Income95,901
Net Interest Income-10,898
Other Non-Operating Income Expenses0
Income Before Tax (EBT)104,48987,313
EBIT - interestExpense = 104,576
104,578
90,824
Interest Expense9,437
Earnings Before Interest and Taxes (EBIT)114,013113,926
Earnings Before Interest and Taxes (EBITDA)147,099
 
After tax Income (+$)
Income Before Tax104,489
Tax Provision-23,191
Net Income From Continuing Ops81,29881,298
Net Income81,387
Net Income Applicable To Common Shares0
 
Non-recurring Events
Discontinued Operations0
Extraordinary Items0
Effect of Accounting Charges0
Other Items0
Non Recurring0
Other Operating Expenses454,558
Total Other Income/Expenses Net8,58810,898
 

Technical Analysis of Codan
The psychology behind the price

Technical indicators reflecting market sentiment and the collective psychology of you and other traders. Your emotions and other traders' emotions, such as fear and greed, play a significant role in driving price movements.

General trend

First of all, I'm going to put something in the back of your mind. One of the most stable factors that gives you more confidence as a trader: the general trend of Codan. The general trend of Codan is BULLISH with 71.4% confidence. It is very important for your mental being to use each indicator with this in mind. But beware, also the general trend flips once in a while! You can use moving averages to determine Codan's overall trend. For convenience I use the most commonly used moving averages: 20, 50, 100 & 200. Of course you can use other moving averages or other indicators to determine the trend.

Indicator phases

Some of the indicators I use have 3 zones: overbought, oversold and neutral. Transitions between these zones (market phases) provide valuable trading signals and insights. Expecially with the general trend mind, I use the highlighted phases:

Indicator zone transitionsBullish trend (71.4%) Bearish trend (-71.4%)
Overbought to neutralBullish pullback=Bearish reversal
Upper to lower neutralBullish correction=Bearish continuation
Nuetral to oversoldOversold=Oversold
Oversold to neutralBullish reversal=Bearish correction
Lower to upper neutralBullish continuation=Bearish pullback
Nuetral to overboughtOverbought=Overbought

1. Codan Price Targets

1.1 Support & Resistance

Support and resistance are levels on a price chart that act as barriers or zones where the price of an asset tends to stop, reverse, or experience a significant amount of buying or selling pressure.

SupportΒ is a price level at which demand for an asset is strong enough to prevent the price from falling further.
ResistanceΒ is a price level at which selling pressure becomes significant enough to prevent the price of an asset from rising further.


Score

Let's take a look at the Support & Resistance of Codan Ltd.

The long score for the Support & Resistance is 0/1.
The longshort score for the Support & Resistance is 0/(-1 +1).

  • Between support/resistance: The price is trading between support and resistance lines.

The bullish price targets are: 20.47.

The bearish price targets are: 17.46 > 17.00 > 16.74.

Know someone who trades $CDA? Share this with them.πŸ‘‡

Codan Ltd Daily Support & Resistance Chart
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2. Trend Indicators

2.1 Moving Averages

Shows theΒ moving averageΒ of the selected period.

  • Moving averages are laggingΒ trend indicators.
  • There are many types of moving averages.
  • Moving averages are also used within other indicators.

Score

Let's take a look at the Moving Averages of Codan Ltd. The current mas is .

The long score for the Moving Averages is 12/14.
The longshort score for the Moving Averages is 10/(-14 +14).

  • MA 20 trending down: The MA 20 is trending down. -1
  • Close < MA 20: The price is below the MA 20. -1
  • MA 20 > MA 50: The MA 20 is higher than the MA 50. +1
  • MA 20 > MA 100: The MA 20 is higher than the MA 100. +1
  • MA 20 > MA 200: The MA 20 is higher than the MA 200. +1
  • MA 50 trending up: The MA 50 is trending up. +1
  • Close > MA 50: The price is above the MA 50. +1
  • MA 50 > MA 100: The MA 50 is higher than the MA 100. +1
  • MA 50 > MA 200: The MA 50 is higher than the MA 200. +1
  • MA 100 trending up: The MA 100 is trending up. +1
  • Close > MA 100: The price is above the MA 100. +1
  • MA 100 > MA 200: The MA 100 is higher than the MA 200. +1
  • MA 200 trending up: The MA 200 is trending up. +1
  • Close > MA 200: The price is above the MA 200. +1

Directionalities and relatives.

Moving AverageAmount of candlesTrendPrice +/-vs. MA 50vs. MA 100vs. MA 200
MA 2020
MA 5050-
MA 100100--
MA 200200---

Explanation: https://www.youtube.com/watch?v=xwW8h0lrQ-I

Codan Ltd Daily Moving Averages Chart
2.2 Moving Average Convergence/Divergence (MACD)

Shows theΒ momentumΒ of theΒ selected period based on two moving averages.

  • MACD is aΒ lagging momentumΒ indicator.
  • Uses two moving averages.
  • Can show buy or sell signals based on momentum.
  • Can show overbought. and oversold. levels.

Score

Let's take a look at the Moving Average Convergence/Divergence (MACD) of Codan Ltd. The current macd is 0.20497441.

The long score for the Moving Average Convergence/Divergence (MACD) is 1/4.
The longshort score for the Moving Average Convergence/Divergence (MACD) is -2/(-4 +4).

  • MACD line < signal line: The MACD line is below the signal line, which indicates a bearish signal in the market. This means that the negative momentum is currently stronger than the average momentum, suggesting that sellers are more active than buyers, and there's a higher probability of the Codan price going down in the near term. -2
  • MACD > 0: The MACD is above the zero line (centerline), it indicates a bullish signal for Codan. This means that the short-term moving average is higher than the long-term moving average, signaling positive momentum and suggesting a higher likelihood of the Codan price continuing to rise in the near future. It indicates that buyers are gaining control, and there is optimism in the market, leading to potential price increases. +1
  • Trending down: The MACD line is trending down. This indicates that the short-term moving average is falling faster than the long-term moving average, suggesting negative momentum in the market. This signals that sellers are becoming more active and insecure, leading to potential price decreases as traders anticipate further losses and are willing to sell at lower prices. -1
Codan Ltd Daily Moving Average Convergence/Divergence (MACD) ChartCodan Ltd Daily Moving Average Convergence/Divergence (MACD) Chart
2.3 Directional Movement Index (DMI)

The DMI is a collection of 3 indicators: +DI (Plus Direction Indicator), -DI (Minus Direction Indicator) and ADX (Average Directional Index). The ADX helps you determine the strength of a trend.


Score

Let's take a look at the Directional Movement Index (DMI) of Codan Ltd. The current adx is 34.23.

The long score for the Directional Movement Index (DMI) is 0/7.
The longshort score for the Directional Movement Index (DMI) is -3/(-7 +7).

  • PLUS_ID < MINUS_DI: The +DI line is below the -DI line. This indicates a bearish signal in the market, as the negative directional movement is currently stronger than the positive directional movement, showing that sellers have the upper hand. Market psychology suggests that traders are pessimistic, expecting further price decreases, and are more willing to sell Codan shares, leading to potential downward momentum in its price. -1
  • PLUS_ID < MINUS_DI && ADX > 25 && ADX trending down: The ADX is above 25 and indicates a strong bearish trend. The ADX is declining, the bearish trend is weakening. Could be a potential reversal to the upside. -2
Codan Ltd Daily Directional Movement Index (DMI) Chart
2.4 Parabolic SAR

Shows the current trend and potential entry and exit signals.

  • Parabolic SAR (stop and reverse) is a lagging trend indicator.
  • ShowsΒ the current trend.
  • ShowsΒ potential entry signals.
  • ShowsΒ Β potential exit signals.
  • Can be used to placeΒ trailing stoplosses..

Score

Let's take a look at the Parabolic SAR of Codan Ltd. The current sar is 19.93.

The long score for the Parabolic SAR is 0/1.
The longshort score for the Parabolic SAR is -1/(-1 +1).

  • Close < SAR: The price is below the SAR. It's generally considered a bearish signal. -1
Codan Ltd Daily Parabolic SAR Chart
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3. Momentum Indicators

3.1 Relative Strength Index (RSI)

Measures the speed and change of price movements.

  • Leading momentumΒ indicator, meaning the signals are instant.
  • RangesΒ between 0 and 100.
  • Above 70 is considered overbought.
  • Below 30 is considered oversold.
  • Above or below 50 can also be used to determine price trend or support and resistance.
  • RSI divergence looks at a deviation between RSI and price movement. Penketrading automatically calculates RSI divergences.
  • Can be used in many different ways

Score

Let's take a look at the Relative Strength Index (RSI) of Codan Ltd. The current rsi is 43.30. The current phase is Correction in bull market.

The long score for the Relative Strength Index (RSI) is 1/13.
The longshort score for the Relative Strength Index (RSI) is -2/(-13 +13).

  • Correction in bull market: Moderate price decline, potential pause in the uptrend. Reassess the market, wait for signs of stabilization.
  • Trending up: The RSI is trending up. +1
Codan Ltd Daily Relative Strength Index (RSI) ChartCodan Ltd Daily Relative Strength Index (RSI) Chart
3.2 Stochastic Oscillator

ComparesΒ a certain price to multiple prices ranging over time.

  • LeadingΒ momentumΒ indicator, meaning the signals are instant.
  • Used to determine overbought and oversold areas much like the RSI.
  • RangesΒ between 0 and 100.
  • Above 80 is considered overbought.
  • Below 20 is considered oversold.
  • Consists of two lines named K and D.
  • K compares the highest high and lowest low on the selected price range.
  • The D line is a moving average of the K line.
  • Can be used to spot divergences

Score

Let's take a look at the Stochastic Oscillator of Codan Ltd. The current phase is Oversold in bull market.

The long score for the Stochastic Oscillator is 1/6.
The longshort score for the Stochastic Oscillator is -4/(-6 +6).

  • STOCH < 50: The STOCH %K is below 50. There are more sellers than buyers. -1
  • STOCH < 20: The STOCH %K is below 20 and oversold. -2
  • STOCH %K line < STOCH %D line: The STOCH %K line is below the STOCH %D line, which indicates a bearish signal in the market. This means that the negative momentum is currently stronger than the average momentum, suggesting that sellers are more active than buyers, and there's a higher probability of the Codan price going down in the near term. -2
  • Trending up: The STOCH %K is trending up. +1
Codan Ltd Daily Stochastic Oscillator ChartCodan Ltd Daily Stochastic Oscillator Chart
3.3 Commodity Channel Index (CCI)

Measures the difference between the current price and the historical average price.

  • Lagging or leading Momentum indicator
  • When the CCI is above zero, the price is above the historical average
  • When the CCI is below zero,Β the price is below the historical average
  • Used for spotting trends
    • If the CCI moves from negative or near zero to positive 100 that might indicate an uptrend
    • If the CCI moves from positive or near zero to negative -100 that might indicate a downtrend

Score

Let's take a look at the Commodity Channel Index (CCI) of Codan Ltd. The current cci is -172.9468599.

The long score for the Commodity Channel Index (CCI) is 0/1.
The longshort score for the Commodity Channel Index (CCI) is -1/(-1 +1).

  • CCI < -100: The CCI is below -100, it indicates that the price is significantly below its average, suggesting a potential oversold condition. -1
Codan Ltd Daily Commodity Channel Index (CCI) ChartCodan Ltd Daily Commodity Channel Index (CCI) Chart
3.4 Chande Momentum Oscillator (CMO)

Measures the difference between the sum of recent gains and the sum of recent losses. Then divides the result by the sum of all price movements in that period.

  • Lagging momentum indicator
  • Ranges between +100 and -100
  • Considered overbought above +50
  • Considered oversold below -50
  • It's possible to add a moving average that acts as a signal line

Score

Let's take a look at the Chande Momentum Oscillator (CMO) of Codan Ltd. The current cmo is -38.65257198.

The long score for the Chande Momentum Oscillator (CMO) is 0/1.
The longshort score for the Chande Momentum Oscillator (CMO) is -1/(-1 +1).

  • CMO < 0: The CMO is below 0, the momentum of the price is negative, indicating a potential downtrend in the price. -1
Codan Ltd Daily Chande Momentum Oscillator (CMO) ChartCodan Ltd Daily Chande Momentum Oscillator (CMO) Chart
3.5 Williams %R

Β Shows the current price relative to the highest high over the last 14 days.
Β 

  • Lagging momentum indicator
  • Ranging between 0 andΒ -100
  • Above -20 is considered overbought
  • Below -80 is considered oversold
  • Is prone to give false signals

Score

Let's take a look at the Williams %R of Codan Ltd. The current willr is -92.39130435.

The long score for the Williams %R is 0/1.
The longshort score for the Williams %R is -1/(-1 +1).

  • WILLR < -80: The Williams %R is below -80. This indicates that the price is in oversold territory, suggesting a potential price correction or trend reversal to the upside. -1
Codan Ltd Daily Williams %R ChartCodan Ltd Daily Williams %R Chart
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4. Volatility Indicators

4.1 Bollinger Bands

Shows if the price is to high or to low relative to an average.

  • Lagging volatility indicator
  • Uses 3 bands: one upper, one lower and one in the middle
  • Works best when the middle band reflects an intermediate trend (MA20).
  • When the price is moving closer to the upper band, the market might be overbought
  • When the price is moving closer to the lower band, the market might be oversoldΒ 

Score

Let's take a look at the Bollinger Bands of Codan Ltd.

Codan Ltd Daily Bollinger Bands Chart
4.2 Average True Range (ATR)
Measures market volatility
  • Leading volatility indicator
  • Can be used to determine stop-loss positions
  • Calculated by:
    • Current high minus the current low
    • Current high minus the previous close
    • Current low minus the previous close
  • The larger the range of the candles, the greater the ATR value

Score

Let's take a look at the Average True Range (ATR) of Codan Ltd. The current atr is 0.44948876.

Codan Ltd Daily Average True Range (ATR) ChartCodan Ltd Daily Average True Range (ATR) Chart
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5. Volume Indicators

5.1 On-Balance Volume (OBV)

Β Measures market volatility

  • Leading momentum indicator
  • Calculation:
    • If the closing price is above the previous closing price: OBV = previous OBV + current volume
    • If the closing price is below the previous closing price: OBV = previous OBV - current volume
    • If the closing price is the same as the previous closing price than the OBV is the same.
  • Can be used to confirm price trends
  • Can be used with divergences

Score

Let's take a look at the On-Balance Volume (OBV) of Codan Ltd. The current obv is 11,119,084.

Codan Ltd Daily On-Balance Volume (OBV) ChartCodan Ltd Daily On-Balance Volume (OBV) Chart
5.2 Money Flow Index (MFI)

Measures the flow of money in and out of a security

  • Lagging momentum indicator
  • Looks like RSI but uses volume as an extra metric (RSI only considers price)
  • Above 80 is considered overbought
  • Below 20 is considered oversold
  • Can be used with divergences

Score

Let's take a look at the Money Flow Index (MFI) of Codan Ltd. The current mfi is 40.70.

The long score for the Money Flow Index (MFI) is 0/2.
The longshort score for the Money Flow Index (MFI) is -1/(-2 +2).

  • MFI < 50: -1
Codan Ltd Daily Money Flow Index (MFI) ChartCodan Ltd Daily Money Flow Index (MFI) Chart
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6. Summary

6.1. Notifications

TypeNotificationDate
PenkeCurrently no notifications for Codan Ltd.

6.2. Trading Signals

Below you will find trading signals as the indicator is commonly used. This doesn't mean you should use it that way. Learn from these, but don't use them blindly. I recommend using at least 4 indicators, 1 from each category: trend, momentum, volatility and volume.

DateIndicatorSignal
2025-02-19STOCH LONG EXITThe %K line crosses below the %D line.
2025-02-21MACD SHORT ENTRY LONG CLOSEThe MACD line crosses below the signal line.
DMI SHORT ENTRY LONG CLOSEThe +DI crossed the -DI to the downside. The trend is reversing to a down trend.
SAR SHORT ENTRY LONG CLOSEThe price broke the SAR to the downside
CMO SHORT ENTRY LONG CLOSEZero line crossover to downside
ATR SHORT ENTRY LONG CLOSEPrice closed below (close - ATR).
2025-02-25CCI SHORT ENTRY LONG CLOSE-100 crossover to downside
WILLR SHORT ENTRY LONG CLOSE-80 crossover to downside
2025-02-26BB LONG ENTRY SHORT CLOSEPrice closed below the lower band.
2025-03-04STOCH SHORT EXITThe %K line crosses above the %D line.
2025-03-06DMI LONG ENTRY SHORT CLOSEThe +DI crossed the -DI to the upside. The trend is reversing to an up trend.
2025-03-07DMI SHORT ENTRY LONG CLOSEThe +DI crossed the -DI to the downside. The trend is reversing to a down trend.
STOCH LONG EXITThe %K line crosses below the %D line.
2025-03-10WILLR SHORT ENTRY LONG CLOSE-80 crossover to downside
2025-03-11CCI SHORT ENTRY LONG CLOSE-100 crossover to downside
2025-03-14STOCH SHORT EXITThe %K line crosses above the %D line.
2025-03-19SAR LONG ENTRY SHORT CLOSEThe price broke the SAR to the upside.
CMO LONG ENTRY SHORT CLOSEZero line crossover to upside
ATR LONG ENTRY SHORT CLOSEPrice closed above (close + ATR).
2025-03-20MACD LONG ENTRY SHORT CLOSEThe MACD line crosses above the signal line.
DMI LONG ENTRY SHORT CLOSEThe +DI crossed the -DI to the upside. The trend is reversing to an up trend.
2025-03-21WILLR LONG ENTRY SHORT CLOSE-20 crossover to upside
ATR LONG ENTRY SHORT CLOSEPrice closed above (close + ATR).
2025-03-24CCI LONG ENTRY SHORT CLOSE100 crossover to upside
2025-03-25STOCH LONG EXITThe %K line crosses below the %D line.
2025-03-26STOCH SHORT EXITThe %K line crosses above the %D line.
WILLR LONG ENTRY SHORT CLOSE-20 crossover to upside
BB SHORT ENTRY LONG CLOSEPrice closed above the lower band.
2025-03-27STOCH LONG EXITThe %K line crosses below the %D line.
2025-03-31CMO SHORT ENTRY LONG CLOSEZero line crossover to downside
2025-04-01DMI SHORT ENTRY LONG CLOSEThe +DI crossed the -DI to the downside. The trend is reversing to a down trend.
2025-04-02STOCH SHORT EXITThe %K line crosses above the %D line.
2025-04-03SAR SHORT ENTRY LONG CLOSEThe price broke the SAR to the downside
STOCH LONG EXITThe %K line crosses below the %D line.
2025-04-04MACD SHORT ENTRY LONG CLOSEThe MACD line crosses below the signal line.
ATR SHORT ENTRY LONG CLOSEPrice closed below (close - ATR).
2025-04-07CCI SHORT ENTRY LONG CLOSE-100 crossover to downside
WILLR SHORT ENTRY LONG CLOSE-80 crossover to downside
ATR SHORT ENTRY LONG CLOSEPrice closed below (close - ATR).
2025-04-08STOCH SHORT EXITThe %K line crosses above the %D line.
2025-04-09STOCH LONG EXITThe %K line crosses below the %D line.
WILLR SHORT ENTRY LONG CLOSE-80 crossover to downside
2025-04-10STOCH SHORT EXITThe %K line crosses above the %D line.
ATR LONG ENTRY SHORT CLOSEPrice closed above (close + ATR).
2025-04-15CMO LONG ENTRY SHORT CLOSEZero line crossover to upside
2025-04-16CMO SHORT ENTRY LONG CLOSEZero line crossover to downside
2025-04-17MACD LONG ENTRY SHORT CLOSEThe MACD line crosses above the signal line.
2025-04-23DMI LONG ENTRY SHORT CLOSEThe +DI crossed the -DI to the upside. The trend is reversing to an up trend.
SAR LONG ENTRY SHORT CLOSEThe price broke the SAR to the upside.
CMO LONG ENTRY SHORT CLOSEZero line crossover to upside
WILLR LONG ENTRY SHORT CLOSE-20 crossover to upside
2025-05-01STOCH LONG EXITThe %K line crosses below the %D line.
CCI LONG ENTRY SHORT CLOSE100 crossover to upside
2025-05-06STOCH SHORT EXITThe %K line crosses above the %D line.
2025-05-08STOCH LONG EXITThe %K line crosses below the %D line.
2025-05-09STOCH SHORT EXITThe %K line crosses above the %D line.
2025-05-12STOCH LONG EXITThe %K line crosses below the %D line.
2025-05-13STOCH SHORT EXITThe %K line crosses above the %D line.
ATR LONG ENTRY SHORT CLOSEPrice closed above (close + ATR).
2025-05-14STOCH LONG EXITThe %K line crosses below the %D line.
2025-05-16STOCH SHORT EXITThe %K line crosses above the %D line.
2025-05-19SAR SHORT ENTRY LONG CLOSEThe price broke the SAR to the downside
STOCH LONG EXITThe %K line crosses below the %D line.
2025-05-20STOCH SHORT EXITThe %K line crosses above the %D line.
CCI LONG ENTRY SHORT CLOSE100 crossover to upside
WILLR LONG ENTRY SHORT CLOSE-20 crossover to upside
2025-05-21SAR LONG ENTRY SHORT CLOSEThe price broke the SAR to the upside.
2025-05-23CCI LONG ENTRY SHORT CLOSE100 crossover to upside
2025-05-26STOCH LONG EXITThe %K line crosses below the %D line.
2025-05-27WILLR LONG ENTRY SHORT CLOSE-20 crossover to upside
2025-05-28STOCH SHORT EXITThe %K line crosses above the %D line.
2025-06-02STOCH LONG EXITThe %K line crosses below the %D line.
2025-06-03STOCH SHORT EXITThe %K line crosses above the %D line.
BB SHORT ENTRY LONG CLOSEPrice closed above the lower band.
2025-06-05STOCH LONG EXITThe %K line crosses below the %D line.
2025-06-06RSI SHORT ENTRY LONG CLOSE70 crossover to downside
2025-06-10STOCH SHORT EXITThe %K line crosses above the %D line.
WILLR LONG ENTRY SHORT CLOSE-20 crossover to upside
2025-06-11SAR SHORT ENTRY LONG CLOSEThe price broke the SAR to the downside
2025-06-12SAR LONG ENTRY SHORT CLOSEThe price broke the SAR to the upside.
CCI LONG ENTRY SHORT CLOSE100 crossover to upside
2025-06-13BB SHORT ENTRY LONG CLOSEPrice closed above the lower band.
ATR LONG ENTRY SHORT CLOSEPrice closed above (close + ATR).
2025-06-16ATR LONG ENTRY SHORT CLOSEPrice closed above (close + ATR).
2025-06-17STOCH LONG EXITThe %K line crosses below the %D line.
2025-06-18STOCH SHORT EXITThe %K line crosses above the %D line.
MFI LONG ENTRY SHORT CLOSE80 crossover to upside
2025-06-19STOCH LONG EXITThe %K line crosses below the %D line.
MFI SHORT ENTRY LONG CLOSE80 crossover to downside
2025-06-20STOCH SHORT EXITThe %K line crosses above the %D line.
ATR LONG ENTRY SHORT CLOSEPrice closed above (close + ATR).
MFI LONG ENTRY SHORT CLOSE80 crossover to upside
2025-06-23STOCH LONG EXITThe %K line crosses below the %D line.
2025-06-25RSI SHORT ENTRY LONG CLOSE70 crossover to downside
MFI SHORT ENTRY LONG CLOSE80 crossover to downside
2025-06-26MACD SHORT ENTRY LONG CLOSEThe MACD line crosses below the signal line.
2025-06-27STOCH SHORT EXITThe %K line crosses above the %D line.
WILLR LONG ENTRY SHORT CLOSE-20 crossover to upside
2025-07-01SAR SHORT ENTRY LONG CLOSEThe price broke the SAR to the downside
RSI SHORT ENTRY LONG CLOSE70 crossover to downside
STOCH LONG EXITThe %K line crosses below the %D line.
2025-07-04CMO SHORT ENTRY LONG CLOSEZero line crossover to downside
WILLR SHORT ENTRY LONG CLOSE-80 crossover to downside
2025-07-07DMI SHORT ENTRY LONG CLOSEThe +DI crossed the -DI to the downside. The trend is reversing to a down trend.
2025-07-08STOCH SHORT EXITThe %K line crosses above the %D line.
CCI SHORT ENTRY LONG CLOSE-100 crossover to downside
2025-07-09STOCH LONG EXITThe %K line crosses below the %D line.
BB LONG ENTRY SHORT CLOSEPrice closed below the lower band.

6.3. Candlestick Patterns

Codan Ltd Daily Candlestick Chart
DateCandlestick Pattern

6.4. Technical Score

Let's check the technical score of Codan Ltd based on Penke's default Symbol scanner.

Penke's Symbol Scanner

  
  
IndicatorConditionValue
RsiGreater than5043.302
Ma 20Greater thanMa 5019.704
Ma 50Greater thanMa 10018.292
Ma 100Greater thanMa 20016.820
OpenGreater thanClose19.000
Total4/5 (80.0%)
Penke
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