Sector: Biotechnology / Pharmaceuticals
Market capitalization: approx. AUD 135 bn (as of Sept. 2025)
P/E ratio (forward): ~28
Dividend yield: ~1.6
Payout ratio: ~45
Dividend growth:
- 1 year: +9.5
- 5-year CAGR: +8.4
- 10-year CAGR: +12 %
Dividend history:
- Continuous dividend payments for over 25 years
- No reduction in the last three years, most recently twice a year (March & September)
Current development (2025):
- Profit increase of approx. +14% in the last financial year
- Spin-off of the vaccine business planned
- Cost-cutting program incl. reduction of up to 3,000 jobs
- Share price down approx. -15% since announcement
Analyst sentiment:
- Majority buy recommendation
- Price targets: 261-375 AUD
- Average target: ~334 AUD → corresponds to +20-30% potential
Long-term perspective:
- Market leader in blood plasma products & immunotherapies
- Benefits from the demographic trend (ageing population, increasing demand for specialty drugs)
- Historically strong share price performance (Ø ~12-14% p.a. over 10 years, incl. dividends)
👉 Summary: Despite its low dividend yield, CSL is interesting for a dividend growth strategy and could also offer opportunities for share price gains again after the recent correction.
