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Codan Ltd
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.

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$0.50
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
10.3%

For what price can you sell your share?

Current Price per Share
A$16.31
Expected price per share
A$16.58 - A$
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$16.31
Intrinsic Value Per Share
A$-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?$279.6m$254.2m$25.3m9.1%

How much money is Codan making?

Current yearPrevious yearGrowGrow %
Making money$50.9m$42.3m$8.5m16.7%
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
#45 / 154

Most Revenue
#16 / 154

Most Profit
#13 / 154
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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$16.31. 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?

 MRQTTMYOY5Y10Y
 A$% of Price per ShareA$% of Price per ShareA$% of Price per ShareA$% of Price per ShareA$% of Price per Share
Usd Eps0.281.7%0.281.7%0.231.4%0.281.7%0.191.2%
Usd Book Value Change Per Share0.140.8%0.140.8%0.130.8%0.161.0%0.110.7%
Usd Dividend Per Share0.120.8%0.120.8%0.150.9%0.140.8%0.090.6%
Usd Total Gains Per Share0.261.6%0.261.6%0.281.7%0.301.8%0.211.3%
Usd Price Per Share7.53-7.53-5.02-6.52-3.96-
Price to Earnings Ratio26.87-26.87-21.51-23.47-18.45-
Price-to-Total Gains Ratio28.68-28.68-17.81-22.41-17.49-
Price to Book Ratio4.89-4.89-3.59-5.58-3.95-
Price-to-Total Gains Ratio28.68-28.68-17.81-22.41-17.49-

When do you get the money?

Usd Investment
$.00
Usd Price Per Share10.203536
Number of shares98
Gains per QuarterTrailing 12 Months5 Year
Usd Dividend Per Share0.120.14
Usd Book Value Change Per Share0.140.16
Usd Total Gains Per Share0.260.30
Gains per Quarter (98 shares)25.7229.31
Gains per Year (98 shares)102.88117.23
YearsReturn on Investment (TTM)Return on Investment (5Y)
 DividendBook Value gainTotal gainsDividendBook Value gainTotal gains
Broker costs---10---10
14954935464107
298108196107127224
3147162299161191341
4196216402215254458
5245270505269318575
6293324608322381692
7342378711376445809
8391432814430508926
94404869174835721043
1048954010205376351160

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+/-5 Year+/-10 Year+/-
Book Value Change Per Share--0.2200.2200%0.211+4%0.259-15%0.180+23%
Book Value Per Share--2.4582.4580%2.238+10%1.952+26%1.434+71%
Current Ratio--1.6661.6660%1.693-2%1.6710%1.686-1%
Debt To Asset Ratio--0.4190.4190%0.414+1%0.381+10%0.341+23%
Debt To Equity Ratio--0.7190.7190%0.706+2%0.622+16%0.532+35%
Dividend Per Share--0.1990.1990%0.239-17%0.219-9%0.152+31%
Enterprise Value--1885181776.1701885181776.1700%1194581714.240+58%1703083829.410+11%1029520493.717+83%
Eps--0.4480.4480%0.373+20%0.445+1%0.310+44%
Ev To Ebitda Ratio--12.81612.8160%9.902+29%11.896+8%9.045+42%
Ev To Sales Ratio--3.4253.4250%2.617+31%3.779-9%2.686+28%
Free Cash Flow Per Share--0.3060.3060%0.333-8%0.427-28%0.348-12%
Free Cash Flow To Equity Per Share--0.1830.1830%0.193-5%0.285-36%0.202-9%
Gross Profit Margin---0.311-0.3110%-0.323+4%0.038-914%-0.252-19%
Intrinsic Value_10Y_max--4.813--------
Intrinsic Value_10Y_min---2.662--------
Intrinsic Value_1Y_max--0.440--------
Intrinsic Value_1Y_min--0.156--------
Intrinsic Value_3Y_max--1.355--------
Intrinsic Value_3Y_min--0.105--------
Intrinsic Value_5Y_max--2.308--------
Intrinsic Value_5Y_min---0.344--------
Market Cap2961162180.480+26%2187257776.1702187257776.1700%1457886714.240+50%1893885829.410+15%1149195193.617+90%
Net Profit Margin--0.1480.1480%0.1480%0.177-17%0.161-8%
Operating Margin--0.2070.2070%0.201+3%0.256-19%0.225-8%
Operating Ratio--0.8260.8260%0.799+3%0.750+10%0.776+6%
Pb Ratio6.635+26%4.8944.8940%3.588+36%5.580-12%3.952+24%
Pe Ratio36.436+26%26.87526.8750%21.511+25%23.467+15%18.452+46%
Price Per Share16.310+26%12.03012.0300%8.030+50%10.428+15%6.328+90%
Price To Free Cash Flow Ratio53.272+26%39.29339.2930%24.095+63%26.016+51%17.169+129%
Price To Total Gains Ratio38.879+26%28.67628.6760%17.810+61%22.408+28%17.485+64%
Quick Ratio--0.7310.7310%0.707+3%0.854-14%0.873-16%
Return On Assets--0.1060.1060%0.098+8%0.147-28%0.139-24%
Return On Equity--0.1820.1820%0.167+9%0.236-23%0.209-13%
Total Gains Per Share--0.4200.4200%0.451-7%0.478-12%0.331+27%
Usd Book Value--279600659.200279600659.2000%254203176.000+10%221734661.120+26%162889098.623+72%
Usd Book Value Change Per Share--0.1380.1380%0.132+4%0.162-15%0.112+23%
Usd Book Value Per Share--1.5381.5380%1.400+10%1.221+26%0.897+71%
Usd Dividend Per Share--0.1250.1250%0.150-17%0.137-9%0.095+31%
Usd Enterprise Value--1179369719.1721179369719.1720%747330320.429+58%1065449243.679+11%644068020.869+83%
Usd Eps--0.2800.2800%0.234+20%0.278+1%0.194+44%
Usd Free Cash Flow--34824649.60034824649.6000%37852553.600-8%48544182.720-28%39580523.423-12%
Usd Free Cash Flow Per Share--0.1920.1920%0.208-8%0.267-28%0.218-12%
Usd Free Cash Flow To Equity Per Share--0.1140.1140%0.121-5%0.178-36%0.126-9%
Usd Market Cap1852503060.108+26%1368348464.7721368348464.7720%912053928.429+50%1184814974.879+15%718936513.127+90%
Usd Price Per Share10.204+26%7.5267.5260%5.024+50%6.524+15%3.959+90%
Usd Profit--50915707.20050915707.2000%42399414.400+20%50553860.160+1%35208830.560+45%
Usd Revenue--344367150.400344367150.4000%285566380.800+21%287543026.560+20%208847864.160+65%
Usd Total Gains Per Share--0.2620.2620%0.282-7%0.299-12%0.207+27%
 EOD+4 -4MRQTTM+0 -0YOY+22 -185Y+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)Between0-1536.436
Price to Book Ratio (EOD)Between0-16.635
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
OpenGreater thanClose16.800
Total1/1 (100.0%)

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 2025-02-05 02:07:07.

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 profit Codan earns for each $1 of revenue.

  • Above 10% is considered healthy but always compare Codan to the Scientific & Technical Instruments industry mean.
  • A Net Profit Margin of 14.8% means that $0.15 for each $1 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%3.9%+10.9%
TTM14.8%4.0%+10.8%
YOY14.8%4.2%+10.6%
5Y17.7%4.9%+12.8%
10Y16.1%5.6%+10.5%
4.3.1.2. Return on Assets

Shows how efficient Codan is using its assets to generate profit.

  • Above 5% is considered healthy but always compare Codan to the Scientific & Technical Instruments industry mean.
  • 10.6% Return on Assets means that Codan generated $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%0.6%+10.0%
TTM10.6%0.7%+9.9%
YOY9.8%0.8%+9.0%
5Y14.7%1.2%+13.5%
10Y13.9%1.2%+12.7%
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 compare Codan to the Scientific & Technical Instruments industry mean.
  • 18.2% Return on Equity means Codan generated $0.18 for each $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%1.1%+17.1%
TTM18.2%1.1%+17.1%
YOY16.7%1.5%+15.2%
5Y23.6%2.3%+21.3%
10Y20.9%2.0%+18.9%
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4.3.2. Operating Efficiency of Codan Ltd.

4.3.2. Operating Efficiency
4.3.2.1. Operating Margin

Measures how efficient Codan is operating .

  • 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 compare Codan to the Scientific & Technical Instruments industry mean.
  • An Operating Margin of 20.7% means the company generated $0.21  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%1.3%+19.4%
TTM20.7%2.0%+18.7%
YOY20.1%5.9%+14.2%
5Y25.6%5.1%+20.5%
10Y22.5%5.1%+17.4%
4.3.2.2. Operating Ratio

Measures how efficient Codan is keeping operating costs low.

  • Below 1 is considered healthy (always compare to 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)+/- 
MRQ0.8261.324-0.498
TTM0.8261.223-0.397
YOY0.7991.290-0.491
5Y0.7501.273-0.523
10Y0.7761.182-0.406
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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 to Scientific & Technical Instruments industry mean).
  • A Current Ratio of 1.67 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)+/- 
MRQ1.6662.332-0.666
TTM1.6662.290-0.624
YOY1.6932.562-0.869
5Y1.6712.609-0.938
10Y1.6862.702-1.016
4.4.3.2. Quick Ratio

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

  • Above 1 is considered healthy but always compare Codan to the Scientific & Technical Instruments industry mean.
  • A Quick Ratio of 0.73 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)+/- 
MRQ0.7311.213-0.482
TTM0.7311.258-0.527
YOY0.7071.238-0.531
5Y0.8541.438-0.584
10Y0.8731.625-0.752
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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 % of Codan assets are financed with debt.

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

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)+/- 
MRQ0.4190.361+0.058
TTM0.4190.353+0.066
YOY0.4140.350+0.064
5Y0.3810.336+0.045
10Y0.3410.331+0.010
4.5.4.2. Debt to Equity Ratio

Measures if Codan is able to pay off its debts by using shareholders equity.

  • Below 2 is considered healthy but always compare Codan to the 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)+/- 
MRQ0.7190.509+0.210
TTM0.7190.529+0.190
YOY0.7060.528+0.178
5Y0.6220.517+0.105
10Y0.5320.520+0.012
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4.6. Market Valuation

4.6.1. Earnings Per Share
4.6.2.1. Price to Earnings Ratio

Measures how much money you pay for each share for every $1 in earnings Codan generates.

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

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

  • The EOD is 36.436. 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+/- 
EOD36.436MRQ26.875+9.561
MRQ26.875TTM26.8750.000
TTM26.875YOY21.511+5.364
TTM26.8755Y23.467+3.407
5Y23.46710Y18.452+5.016
Compared to industry (Scientific & Technical Instruments)
PeriodCompanyIndustry (mean)+/- 
EOD36.43614.399+22.037
MRQ26.87514.773+12.102
TTM26.87515.206+11.669
YOY21.51115.495+6.016
5Y23.46718.053+5.414
10Y18.45228.055-9.603
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 53.272. 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+/- 
EOD53.272MRQ39.293+13.979
MRQ39.293TTM39.2930.000
TTM39.293YOY24.095+15.198
TTM39.2935Y26.016+13.276
5Y26.01610Y17.169+8.848
Compared to industry (Scientific & Technical Instruments)
PeriodCompanyIndustry (mean)+/- 
EOD53.27210.338+42.934
MRQ39.2939.354+29.939
TTM39.2937.744+31.549
YOY24.095-2.468+26.563
5Y26.016-0.456+26.472
10Y17.1690.846+16.323
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4.6.2. Book Value per Share
4.6.2.1. Price to Book Ratio

Measures if the stock price of Codan is to cheap or to expensive compared to its book value.

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

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

  • The EOD is 6.635. 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+/- 
EOD6.635MRQ4.894+1.741
MRQ4.894TTM4.8940.000
TTM4.894YOY3.588+1.306
TTM4.8945Y5.580-0.686
5Y5.58010Y3.952+1.628
Compared to industry (Scientific & Technical Instruments)
PeriodCompanyIndustry (mean)+/- 
EOD6.6352.950+3.685
MRQ4.8942.761+2.133
TTM4.8942.795+2.099
YOY3.5882.798+0.790
5Y5.5803.341+2.239
10Y3.9524.172-0.220
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.