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Cuscal Limited
(Sydney:CCL)
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Rating:60Neutral
Price Target:
AU$5.50
▲(15.30% Upside)
Action:N/A
Date:10/26/25
Cuscal presents a complex investment case scoring 60/99. Strong technical momentum (78% above 200-DMA) and impressive cash generation despite 66% revenue decline suggest market confidence in transformation strategy. However, elevated P/E of 27.8 amid business uncertainty and unclear strategic direction create significant risks. Positive deleveraging and margin improvements provide some downside protection.
Positive Factors
High profitability margins
Cuscal's reported net margin of 20.59% and solid EBIT/EBITDA margins indicate an efficient cost structure and pricing power in payments services. Over the medium term, sustainable margins support reinvestment in platforms, absorb revenue volatility, and provide a durable buffer for regulatory and tech spending needs.
Negative Factors
Steep revenue decline
A reported revenue decline of ~66% is a major structural concern: it shrinks the base from which margins and cash generation derive, may signal lost client volumes or contract exits, and implies medium-term uncertainty about restoring scale in a network-driven payments business.
Read all positive and negative factors
Positive Factors
Negative Factors
High profitability margins
Cuscal's reported net margin of 20.59% and solid EBIT/EBITDA margins indicate an efficient cost structure and pricing power in payments services. Over the medium term, sustainable margins support reinvestment in platforms, absorb revenue volatility, and provide a durable buffer for regulatory and tech spending needs.
Read all positive factors
Cuscal Limited (CCL) vs. iShares MSCI Australia ETF (EWA)
Market Cap
AU$1.01B
Dividend Yield1.97%
Average Volume (3M)221.34K
Price to Earnings (P/E)25.6
Beta (1Y)1.23
Revenue Growth0.68%
EPS Growth26.29%
CountryAU
Employees886
SectorGeneral
Sector StrengthN/A
IndustryFinancial - Diversified
Share Statistics
EPS (TTM)0.20
Shares Outstanding199,812,620
10 Day Avg. Volume280,981
30 Day Avg. Volume221,342
Financial Highlights & Ratios
PEG Ratio-3.20
Price to Book (P/B)1.53
Price to Sales (P/S)4.12
P/FCF Ratio4.63
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
AU$5.76Price Target Upside20.81% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering4
EPS Forecast (FY)0.28
Revenue Forecast (FY)AU$456.26M
Cuscal Limited Business Overview & Revenue Model
Company Description
Cuscal Limited functions as a specialist provider, delivering essential payment infrastructure and secure, regulated data solutions. Its diverse portfolio of services includes a cutting-edge real-time payment platform, comprehensive card services,...
How the Company Makes Money
Cuscal makes money by supplying payments and banking infrastructure services to other financial institutions and charging fees tied to platform usage, transaction volumes, and service arrangements. Key revenue streams typically include: (1) Paymen...
Cuscal Limited Financial Statement Overview
Summary
Income Statement
35
Negative
Balance Sheet
62
Positive
Cash Flow
71
Positive
| Breakdown | TTM | Jun 2025 | Jun 2024 | Jun 2023 | Jun 2022 | Dec 2020 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 413.20M | 139.40M | 395.10M | 218.40M | 175.10M | 4.78B |
| Gross Profit | 148.10M | 31.40M | 254.20M | 0.00 | 0.00 | 1.92B |
| EBITDA | 68.20M | 164.00M | 177.90M | 29.90M | 33.10M | 332.90M |
| Net Income | 38.00M | 28.70M | 31.60M | 26.10M | 23.40M | 145.00M |
Balance Sheet | ||||||
| Total Assets | 5.23B | 3.47B | 3.51B | 3.08B | 3.32B | 6.12B |
| Cash, Cash Equivalents and Short-Term Investments | 3.16B | 3.21B | 3.19B | 2.80B | 1.66B | 1.06B |
| Total Debt | 350.60M | 697.90M | 2.71B | 2.47B | 478.40M | 1.71B |
| Total Liabilities | 4.85B | 3.09B | 3.15B | 2.78B | 3.02B | 4.50B |
| Stockholders Equity | 388.10M | 376.40M | 352.60M | 298.90M | 293.20M | 1.63B |
Cash Flow | ||||||
| Free Cash Flow | 767.30M | 124.10M | 395.90M | 48.00M | 769.80M | 629.80M |
| Operating Cash Flow | 783.90M | 148.70M | 403.20M | 57.70M | 795.90M | 839.60M |
| Investing Cash Flow | 264.50M | -24.60M | -17.30M | -5.30M | -5.80M | -159.60M |
| Financing Cash Flow | -12.90M | 18.00M | -18.30M | -80.30M | -80.20M | -476.30M |
Cuscal Limited Technical Analysis
Positive
4.77
Price Trends
4.94
Positive
4.70
Positive
4.38
Positive
Market Momentum
0.06
Negative
70.77
Negative
91.81
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For AU:CCL, the sentiment is Positive. The current price of 4.77 is below the 20-day moving average (MA) of 4.93, below the 50-day MA of 4.94, and above the 200-day MA of 4.38, indicating a bullish trend. The MACD of 0.06 indicates Negative momentum. The RSI at 70.77 is Negative, neither overbought nor oversold. The STOCH value of 91.81 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for AU:CCL.
Cuscal Limited Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
70 Neutral | AU$185.04M | -441.67 | -0.22% | ― | -7.93% | -101.72% | |
60 Neutral | AU$1.01B | 25.65 | 9.94% | 2.07% | 0.68% | 26.29% | |
59 Neutral | AU$788.44M | 7.31 | 12.70% | 15.82% | -8.26% | 5.26% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
52 Neutral | AU$986.70M | 6.91 | 12.13% | 15.15% | -4.02% | 17.32% | |
51 Neutral | AU$3.18B | 30.07 | 15.91% | ― | 28.84% | ― | |
50 Neutral | AU$935.76M | 9.96 | 7.72% | 6.60% | 8.89% | 334.62% |
* General Sector Average
AU:CCL
Cuscal Limited
5.29
2.47
87.32%
AU:ZIP
Zip Co Ltd.
2.86
-0.42
-12.80%
AU:PPM
Pepper Money Ltd
1.83
0.09
4.99%
AU:LFS
Latitude Group Holdings Ltd.
0.90
-0.14
-13.54%
AU:OFX
OFX Group Ltd.
0.82
-0.02
-1.81%
AU:LFG
Liberty Financial Group Ltd
3.26
-0.26
-7.36%
Cuscal Limited Corporate Events
Cuscal sets August date to unveil FY26 results and brief investors
Jul 23, 2026
Cuscal Limited, the Australian payments-focused authorised deposit-taking institution, has evolved from its mutual banking origins into a major provider of payment processing and regulated data services, leveraging its licences and infrastructure ...
Cuscal appoints former JSE chief Leila Fourie to board to bolster growth strategy
Jun 24, 2026
Cuscal Limited has appointed Dr Leila Fourie as an Independent Non-Executive Director effective 1 August 2026, with roles on the Board Risk Committee and the Board Remuneration and Nominations Committee. The South Africa-based executive brings mor...
Cuscal names new company secretary as it cements role in Australian payments
Jun 22, 2026
Cuscal Limited, an authorised deposit-taking institution and leading Australian payments provider, offers broad payment processing and regulated data services backed by licences and connectivity comparable only to the country’s four major ba...
Cuscal closes Paymark acquisition to bolster trans-Tasman payments reach
May 28, 2026
Cuscal Limited has completed its acquisition of New Zealand payments provider Paymark Limited from Worldline, securing 100% ownership of the company. Paymark operates a payments services business similar to Cuscal’s Australian acquiring oper...
Cuscal Seeks ASX Quotation for 750,366 New Ordinary Shares
May 12, 2026
Cuscal Limited has applied for quotation on the ASX of 750,366 ordinary fully paid shares, with an issue date of May 13, 2026. The new securities, issued under a previously announced transaction, will expand the company’s quoted share base, ...
Cuscal’s Oversubscribed Share Plan Backs Paymark Acquisition
May 12, 2026
Cuscal Limited has completed an oversubscribed share purchase plan, raising A$3.0 million from retail investors after receiving about A$51.4 million in applications, following a A$30 million institutional placement. The funds will be used to help ...
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.