Financials Cogstate Limited

Equities

CGS

AU000000CGS8

Biotechnology & Medical Research

Market Closed - Australian S.E. Other stock markets 02:10:31 2024-05-06 am EDT			5-day change	1st Jan Change
1.4 ^AUD	0.00%		+2.19%	-3.11%

Apr. 01	Cogstate Amends License Agreement with Eisai for Alzheimer’s Treatment	MT
Feb. 22	Cogstate's Fiscal H1 Attributable Profit Jumps, Revenue Rises 3%; Shares Decline 8%	MT

Valuation

Fiscal Period: June	2021	2022	2023	2024	2025
Capitalization ¹	232.5	264.4	285.8	239.1	-
Enterprise Value (EV) ¹	232.5	222.1	285.8	202.1	198.7
P/E ratio	32.7 x	24.8 x	51.2 x	45.8 x	36.6 x
Yield	-	-	-	-	-
Capitalization / Revenue	5.16 x	4.06 x	4.51 x	3.73 x	3.04 x
EV / Revenue	5.16 x	3.41 x	4.51 x	3.16 x	2.53 x
EV / EBITDA	-	11.8 x	34.5 x	19.4 x	14.1 x
EV / FCF	-	16.5 x	349 x	189 x	16.9 x
FCF Yield	-	6.07%	0.29%	0.53%	5.92%
Price to Book	-	-	-	-	-
Nbr of stocks (in thousands)	170,988	173,368	173,186	170,781	-
Reference price ²	1.360	1.525	1.650	1.400	1.400
Announcement Date	8/24/21	8/29/22	8/21/23	-	-

¹AUD in Million²AUD

Estimates

Income Statement Evolution (Annual data)

Fiscal Period: June	2021	2022	2023	2024	2025
Net sales ¹	45.05	65.19	63.29	64.05	78.57
EBITDA ¹	-	18.85	8.28	10.39	14.06
EBIT ¹	-	15.49	4.22	6.114	9.783
Operating Margin	-	23.75%	6.67%	9.55%	12.45%
Earnings before Tax (EBT) ¹	-	15.5	4.733	6.573	9.778
Net income ¹	-	10.9	5.582	5.347	6.875
Net margin	-	16.72%	8.82%	8.35%	8.75%
EPS ²	0.0416	0.0616	0.0322	0.0306	0.0382
Free Cash Flow ¹	-	13.48	0.8179	1.07	11.77
FCF margin	-	20.68%	1.29%	1.67%	14.98%
FCF Conversion (EBITDA)	-	71.52%	9.88%	10.29%	83.69%
FCF Conversion (Net income)	-	123.73%	14.65%	20.01%	171.2%
Dividend per Share	-	-	-	-	-
Announcement Date	8/24/21	8/29/22	8/21/23	-	-

¹AUD in Million²AUD

Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: June	2022 S1	2022 S2	2023 S1	2023 S2	2024 S1	2024 S2
Net sales ¹	31.89	31.75	29.06	32.71	30.81	33.63
EBITDA ¹	10.08	8.342	1.541	6.659	4.932	5.503
EBIT ¹	8.422	6.607	-0.3497	4.588	2.749	3.363
Operating Margin	26.41%	20.81%	-1.2%	14.02%	8.92%	10%
Earnings before Tax (EBT)	-	-	-	-	-	-
Net income	-	-	-	-	-	-
Net margin	-	-	-	-	-	-
EPS	-	-	-	-	-	-
Dividend per Share	-	-	-	-	-	-
Announcement Date	2/23/22	8/29/22	2/27/23	8/21/23	2/21/24	-

¹AUD in Million

Estimates

Balance Sheet Analysis

Fiscal Period: June	2021	2022	2023	2024	2025
Net Debt ¹	-	-	-	-	-
Net Cash position ¹	-	42.3	-	37	40.4
Leverage (Debt/EBITDA)	-	-	-	-	-
Free Cash Flow ¹	-	13.5	0.82	1.07	11.8
ROE (net income / shareholders' equity)	-	22.8%	-	9%	10.3%
ROA (Net income/ Total Assets)	-	12.9%	-	6.6%	6.4%
Assets ¹	-	84.71	-	81.02	107.4
Book Value Per Share	-	-	-	-	-
Cash Flow per Share	-	0.0800	-	-	0.0700
Capex	-	0.61	0.21	-	-
Capex / Sales	-	0.94%	0.32%	-	-
Announcement Date	8/24/21	8/29/22	8/21/23	-	-

¹AUD in Million

Estimates

EPS & Dividend

Year-on-year evolution of the PER

Change in Enterprise Value/EBITDA

Ratings for Cogstate Limited

Trading Rating

Investor Rating

ESG Refinitiv

More Ratings

Analysts' Consensus

Sell

Buy

Mean consensus

BUY

Number of Analysts

Last Close Price

1.4 AUD

Average target price

1.8 AUD

Spread / Average Target

+28.57%

Consensus

EPS Revisions

Estimates Revisions

Quarterly revenue - Rate of surprise

Company calendar

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