Cuscal Limited (AU:CCL)
ASX:CCL
Australian Market
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Cuscal Limited (CCL) AI Stock Analysis

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AU:CCL

Cuscal Limited

(Sydney:CCL)

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Neutral 59 (OpenAI - 4o)
Rating:59Neutral
Price Target:
AU$4.00
▲(2.30% Upside)
Cuscal Limited's stock score is primarily influenced by its strong technical indicators, suggesting positive market momentum. However, financial performance is a concern due to declining revenue and high leverage, which could pose risks. The valuation indicates moderate pricing, but the low dividend yield limits income potential for investors.

Cuscal Limited (CCL) vs. iShares MSCI Australia ETF (EWA)

Cuscal Limited Business Overview & Revenue Model

Company DescriptionCuscal Limited provides payments and regulated data solutions. The Company offers real time payment platform, cards, digital payments, automated teller machine (ATMs) solutions, and consumer data services
How the Company Makes MoneyCuscal Limited generates revenue primarily through transaction fees charged for its payment processing services, which include card payments, direct debits, and digital wallet solutions. The company also earns income from card issuing services, where it provides financial institutions with the ability to issue branded payment cards to their customers. Additionally, Cuscal benefits from partnerships with various banks and fintech companies, allowing it to expand its service offerings and reach a broader market. Other revenue streams may include subscription fees for platform access and consulting services related to payment technology integration.

Cuscal Limited Financial Statement Overview

Summary
Cuscal Limited faces challenges with declining revenue and high leverage, impacting its financial stability. Despite these issues, the company demonstrates strong profitability margins and cash flow generation, which could support future financial resilience if revenue growth is addressed.
Income Statement
45
Neutral
The income statement shows a significant decline in revenue growth, with a negative growth rate of -66.03% in the most recent year. Gross profit margin has also decreased substantially from previous years. However, the company maintains a relatively high net profit margin of 20.59% and strong EBIT and EBITDA margins, indicating efficient cost management despite revenue challenges.
Balance Sheet
40
Negative
The balance sheet reveals a high debt-to-equity ratio of 1.85, indicating significant leverage, though improved from the previous year's 7.68. Return on equity is moderate at 7.62%, reflecting average profitability on shareholders' investments. The equity ratio suggests a stable asset base, but the high leverage poses potential financial risk.
Cash Flow
55
Neutral
Cash flow analysis shows positive free cash flow growth of 9.73% and a strong free cash flow to net income ratio of 0.83, indicating good cash generation relative to profits. However, the operating cash flow to net income ratio is low at 0.07, suggesting potential issues in converting income into cash.
BreakdownTTMDec 2024Dec 2023Dec 2022Dec 2021Dec 2020
Income Statement
Total Revenue398.70M139.40M395.10M218.40M175.10M4.78B
Gross Profit139.70M31.40M254.20M0.000.001.92B
EBITDA56.00M164.00M177.90M29.90M33.10M332.90M
Net Income28.70M28.70M31.60M26.10M23.40M145.00M
Balance Sheet
Total Assets3.47B3.47B3.51B3.08B3.32B6.12B
Cash, Cash Equivalents and Short-Term Investments3.21B3.21B3.19B2.80B1.66B1.06B
Total Debt697.90M697.90M2.71B2.47B478.40M1.71B
Total Liabilities3.09B3.09B3.15B2.78B3.02B4.50B
Stockholders Equity376.40M376.40M352.60M298.90M293.20M1.63B
Cash Flow
Free Cash Flow35.00M124.10M395.90M48.00M769.80M629.80M
Operating Cash Flow51.00M148.70M403.20M57.70M795.90M839.60M
Investing Cash Flow-24.60M-24.60M-17.30M-5.30M-5.80M-159.60M
Financing Cash Flow18.00M18.00M-18.30M-80.30M-80.20M-476.30M

Cuscal Limited Technical Analysis

Technical Analysis Sentiment
Negative
Last Price3.91
Price Trends
50DMA
3.98
Negative
100DMA
3.57
Positive
200DMA
3.11
Positive
Market Momentum
MACD
0.04
Positive
RSI
39.74
Neutral
STOCH
31.34
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For AU:CCL, the sentiment is Negative. The current price of 3.91 is below the 20-day moving average (MA) of 4.13, below the 50-day MA of 3.98, and above the 200-day MA of 3.11, indicating a neutral trend. The MACD of 0.04 indicates Positive momentum. The RSI at 39.74 is Neutral, neither overbought nor oversold. The STOCH value of 31.34 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for AU:CCL.

Cuscal Limited Peers Comparison

Overall Rating
UnderperformOutperform
Sector (68)
Financial Indicators
Name
Overall Rating
Market Cap
P/E Ratio
ROE
Dividend Yield
Revenue Growth
EPS Growth
68
Neutral
$18.00B11.429.92%3.81%9.73%1.22%
67
Neutral
AU$237.74M9.4471.90%22.94%
66
Neutral
AU$489.39M24.5512.36%2.69%-26.30%40.12%
65
Neutral
AU$1.10B11.0112.11%7.91%-6.49%-5.40%
59
Neutral
AU$787.32M27.448.22%1.35%0.91%-9.16%
52
Neutral
AU$638.64M18.1916.81%3.84%14.37%20.75%
46
Neutral
AU$1.18B20.055.01%6.19%14.81%
* Financial Sector Average
Performance Comparison
Ticker
Company Name
Price
Change
% Change
AU:CCL
Cuscal Limited
3.91
1.55
65.68%
AU:AFG
Australian Finance Group Ltd.
2.33
0.78
50.32%
AU:PLT
Plenti Group Ltd.
1.22
0.48
64.86%
AU:PPM
Pepper Money Ltd
2.38
1.20
101.69%
AU:LFS
Latitude Group Holdings Ltd.
1.13
0.05
4.63%
AU:COG
COG Financial Services Limited
2.17
1.27
141.11%

Cuscal Limited Corporate Events

Cuscal’s Acquisition of Indue Limited Approved by ACCC
Oct 24, 2025

Cuscal Limited has received a positive decision from the Australian Competition and Consumer Commission (ACCC) regarding its acquisition of Indue Limited. With this approval, and pending further regulatory consent from the Australian Prudential Regulation Authority (APRA), the acquisition is expected to be completed by the end of the year, potentially enhancing Cuscal’s market position and operational capabilities in the payments sector.

The most recent analyst rating on (AU:CCL) stock is a Hold with a A$4.00 price target. To see the full list of analyst forecasts on Cuscal Limited stock, see the AU:CCL Stock Forecast page.

ACCC Approves Cuscal’s Acquisition of Indue, Ensuring Competitive Payment Solutions
Oct 23, 2025

The Australian Competition and Consumer Commission (ACCC) has decided not to oppose Cuscal Limited’s proposed acquisition of Indue Limited, as it is unlikely to significantly reduce competition in the payment facilitation services market. The acquisition is expected to deliver efficiencies and support continued investment in products and innovation, benefiting small and mutual bank customers and fintechs. Despite Cuscal and Indue being major players, the presence of multiple suppliers ensures competitive options remain available, and the increasing digitization of payments may further reduce barriers to entry.

The most recent analyst rating on (AU:CCL) stock is a Hold with a A$4.00 price target. To see the full list of analyst forecasts on Cuscal Limited stock, see the AU:CCL Stock Forecast page.

Cuscal Limited Releases 2025 Annual General Meeting Notice
Sep 23, 2025

Cuscal Limited has announced the release of its 2025 Notice of Annual General Meeting, which includes essential documents such as the Voting/Proxy Form and Online Meeting Guide. This announcement highlights Cuscal’s ongoing commitment to transparency and stakeholder engagement, reinforcing its position as a key player in the Australian financial services sector.

The most recent analyst rating on (AU:CCL) stock is a Buy with a A$4.50 price target. To see the full list of analyst forecasts on Cuscal Limited stock, see the AU:CCL Stock Forecast page.

Cuscal Director Increases Shareholding, Signaling Confidence in Future Prospects
Aug 28, 2025

Cuscal Limited announced a change in the interests of its director, Wayne Hugh Stevenson, who increased his indirect holdings in the company by acquiring 40,000 ordinary shares through on-market purchases. This change reflects a strategic move during an approved trading window, potentially indicating confidence in the company’s future prospects and stability, which may reassure stakeholders and investors about the company’s ongoing performance and market positioning.

The most recent analyst rating on (AU:CCL) stock is a Buy with a A$4.50 price target. To see the full list of analyst forecasts on Cuscal Limited stock, see the AU:CCL Stock Forecast page.

Cuscal Limited Announces 2025 AGM and Director Nominations
Aug 21, 2025

Cuscal Limited has announced that its 2025 Annual General Meeting will be held on October 30, 2025. The company is inviting nominations for director positions, which must be submitted by September 11, 2025. This announcement is part of Cuscal’s ongoing efforts to engage with its shareholders and ensure effective governance, reflecting its strategic focus on maintaining its leadership in the payments sector.

The most recent analyst rating on (AU:CCL) stock is a Buy with a A$3.75 price target. To see the full list of analyst forecasts on Cuscal Limited stock, see the AU:CCL Stock Forecast page.

Cuscal Limited Releases Corporate Governance Statement for FY2025
Aug 21, 2025

Cuscal Limited has released its corporate governance statement for the financial year ending June 30, 2025, confirming compliance with the ASX Corporate Governance Council’s principles and recommendations. The statement, approved by the board, highlights Cuscal’s commitment to transparency and accountability, which is crucial for maintaining trust with stakeholders and ensuring robust governance practices.

The most recent analyst rating on (AU:CCL) stock is a Buy with a A$3.75 price target. To see the full list of analyst forecasts on Cuscal Limited stock, see the AU:CCL Stock Forecast page.

Cuscal Limited Releases 2025 Annual Report
Aug 21, 2025

Cuscal Limited has released its 2025 Annual Report, which is now available on their website. This report reflects the company’s ongoing commitment to innovation and its strategic positioning within the Australian payments industry, highlighting its role as a key player alongside major banks in providing comprehensive payment solutions.

The most recent analyst rating on (AU:CCL) stock is a Buy with a A$3.75 price target. To see the full list of analyst forecasts on Cuscal Limited stock, see the AU:CCL Stock Forecast page.

Cuscal Limited Announces FY25 Results and Strategic Acquisition of Indue
Aug 21, 2025

Cuscal Limited has announced its FY25 results alongside the acquisition of Indue, a strategic move aimed at enhancing its payment processing capabilities. This acquisition is expected to strengthen Cuscal’s market position and offer synergies that could benefit stakeholders by expanding its service offerings and operational efficiencies.

The most recent analyst rating on (AU:CCL) stock is a Buy with a A$3.75 price target. To see the full list of analyst forecasts on Cuscal Limited stock, see the AU:CCL Stock Forecast page.

Cuscal Surpasses FY25 Forecast and Acquires Indue for Strategic Growth
Aug 21, 2025

Cuscal Limited announced that its FY25 Pro Forma NPAT exceeded the Prospectus forecast, with significant growth in transaction volume and financial metrics. The company declared a final dividend and maintained a positive outlook for future growth. Additionally, Cuscal has strategically acquired Indue Limited for $75 million, aiming to achieve operational efficiencies and enhance client offerings. The acquisition is expected to generate substantial cost synergies and improve the company’s competitive positioning in the Australian payments landscape.

The most recent analyst rating on (AU:CCL) stock is a Buy with a A$3.75 price target. To see the full list of analyst forecasts on Cuscal Limited stock, see the AU:CCL Stock Forecast page.

Cuscal Limited Reports Revenue Growth and Strategic Acquisitions
Aug 21, 2025

Cuscal Limited reported a 6% increase in revenue for the year ending June 2025, despite a decline in profits. The company announced the acquisition of Indue, which is expected to generate significant cost synergies and enhance earnings per share in the long term. Additionally, Cuscal’s acquisition of the remaining shares in Braavos Corporation and the retirement of its CFO were highlighted. The company declared a final dividend of 5.5 cents per share, maintaining a strong capital position.

The most recent analyst rating on (AU:CCL) stock is a Buy with a A$3.75 price target. To see the full list of analyst forecasts on Cuscal Limited stock, see the AU:CCL Stock Forecast page.

Cuscal Limited Amends Release Date for Escrowed Shares
Aug 20, 2025

Cuscal Limited announced an amendment to its previous ASX announcement regarding the release of escrowed securities. The release of 56,637,982 fully paid ordinary shares from voluntary escrow will now occur on 25 August 2025, instead of the previously stated date. This adjustment in the release date of shares, which have been under escrow since the company’s shares commenced quotation on the ASX in November 2024, may impact the company’s stock liquidity and market perception.

The most recent analyst rating on (AU:CCL) stock is a Buy with a A$3.75 price target. To see the full list of analyst forecasts on Cuscal Limited stock, see the AU:CCL Stock Forecast page.

Cuscal Limited to Release Shares from Voluntary Escrow
Aug 18, 2025

Cuscal Limited announced the release of 56,637,982 fully paid ordinary shares from voluntary escrow on August 22, 2025. These shares have been under escrow since the company’s shares were first quoted on the ASX in November 2024. This release marks a significant step for Cuscal, potentially impacting its market operations and stakeholder interests.

The most recent analyst rating on (AU:CCL) stock is a Buy with a A$3.40 price target. To see the full list of analyst forecasts on Cuscal Limited stock, see the AU:CCL Stock Forecast page.

Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

Disclaimer

This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.Date of analysis: Oct 02, 2025