Codan Stock | Price, Analyst Rating & Outlook for 2026

Codan

ASX:CDA

$ 32,37

$-2,04 (-5,93%)

32,37 $

$-2,04 (-5,93%)

End-of-day quote: 03/27/2026

Codan Stock Value

The analyst rating for Codan is currently Outperform.

Outperform

Codan Company Info

EPS Growth 5Y

10,25%

Market Cap

$5,89 B

Long-Term Debt

$0,12 B

Quarterly earnings

05/22/2026 (E)

Dividend

$0,37

Dividend Yield

1,13%

Founded

1959

Industry

Information Technology

Country

Australia

Website

Codan

ISIN Number

AU000000CDA3

Website

http://www.codan.com.au

Analyst Price Target
The Analyst Price Target shows the analysts’ low, high, and average target at a glance.

$38,10

17.7%

Last Update: 03/28/2026

Analysts: 8

Highest Price Target $42,88

Average Price Target $38,10

Lowest Price Target $22,00

In the last five quarters, Codan’s Price Target has risen from $4,22 to $10,58 - a 150,71% increase. Seven analysts predict that Codan’s share price will increase in the coming year, reaching $38,10. This would represent an increase of 17,70%.

Top growth stocks in the information technology sector (5Y.)

What does Codan do?

Codan Limited (Codan) develops technology solutions for United Nations organizations, security and military groups, government departments, individuals, and small-scale miners that is specialized in advanced communications and metal detection equipment. The company is recognized for its innovation and high-performance products, which are tailored to meet the needs of various industries, including public safety, field communication, and leisure activities such as metal detecting. Business Segmen...

Business Segments

The group is segmented primarily into three distinct areas: communications, metal detection, and other. Each business segment is integral to Codan's overall strategy, contributing uniquely to its growth and market presence.

Communications Segment

This segment focuses on developing technologies for critical communications. Codan’s Tactical Communications division offers high-quality communication equipment tailored for various industries, including military and emergency services. Zetron, another key part of this segment, specializes in dispatch systems and provides infrastructure critical for efficient public safety communications.

Metal Detection Segment

This segment specializes in Codan’s metal detection business, particularly Minelab, which creates advanced products designed for gold detection and treasure hunting. The equipment produced by this segment is renowned for its reliability and superior technology, appealing to a wide range of end-users, including hobbyists and professionals.

Other Segment

This segment represents the Tracking Solutions business, covering ongoing contracts and transitioning out of direct product marketing with Caterpillar Inc. This business segment is a residual of previous operational strategies that the company has now divested from.

Business Strategy

Codan’s business strategy is anchored in continuous innovation and expansion within its core product offerings while pursuing complementary acquisitions that enhance its technological capabilities. The company is focused on investing heavily in its product development pipelines, ensuring that the latest technologies are integrated into its offerings. This strategic approach includes fostering strong relationships with stakeholders and customers to co-create solutions that address real-world challenges in communication and detection technology.

Going forward, Codan aims to unapologetically enhance its market leadership through targeted investment in infrastructure and human capital. By reinforcing operational processes and enhancing IT systems, the company strives to create a robust foundation for future growth. Moreover, the strategic growth plan entails evaluating regional markets and global trends to identify acquisition opportunities that align with Codan’s mission.

Products and Services

Codan provides a comprehensive suite of products and services focused on two primary areas: communications and metal detection. Each category encompasses advanced technologies and user-focused solutions designed to meet specific industry requirements.

Communications: Codan offers an array of communication equipment tailored for high reliability and performance in rugged environments. This includes software and hardware combinations for tactical communications and dispatch solutions, focusing on public safety, military, and emergency response sectors. These products support critical operations in scenarios where effective communication is paramount. Services offered in conjunction with these products include system design, ongoing maintenance, and user training programs to ensure optimal performance.

Metal Detection: Codan’s metal detection product line includes sophisticated detectors designed for hobbyists interested in treasure hunting and commercial applications such as archaeological surveying or gold prospecting. Minelab devices are engineered for ease of use, allowing for adaptive mining capabilities without heavy reliance on external resources. The company also provides support services, including customer advice, warranty commitments, and instructional resources to enhance user experience and operational success.

Geographical Markets Served

Codan serves a diverse array of geographical markets, solidifying its global presence through strategic investments and operational expansion. Significant markets include the United States, where robust revenue generation occurs, and other regions such as Australia, Canada, and the United Kingdom.

Seasonality

Codan operates in various markets, and the company experiences seasonality trends based on product demand cycles. The metal detection segment tends to see stronger sales during warmer months when consumers engage more frequently in outdoor activities related to treasure hunting. Conversely, communications equipment demand may fluctuate based on public safety needs, which can be influenced by seasonal events or crises. Overall, Codan continually monitors these seasonal patterns to optimize inventory management and sales strategies.

Customers

Codan serves a wide range of customers, securing relationships across various industries and regions. The customer base spans from individual hobbyists in the metal detecting community to large governmental and non-governmental organizations engaged in communication operations.

Sales and Marketing Channels

Codan employs a multifaceted approach to sales and marketing, leveraging both direct and indirect channels to reach diverse customer segments. This includes retail partnerships, distributors, and online platforms to ensure comprehensive market penetration. The company’s marketing efforts are tailored to highlight product features, customer testimonials, and successful application stories, providing tangible evidence of its products' effectiveness and reliability.

History

Codan Limited (Codan) was founded in 1959. The company was incorporated in 1959.

Codan Questions and Answers

Which sectors generate sales and which are the top 3 markets?

**Revenue distribution by industry:** - Communication solutions: 45% - Metal detection: 40% - Mining and security solutions: 15% **TOP 3 markets and their percentage shares:** - Australia: 30% - North America: 25% - Africa: 20% Codan Limited generates its revenues mainly from three core areas: com...

At which locations are the company’s products manufactured?

**Production sites of Codan Limited:** Codan Limited mainly produces its products in Australia. The company's main production facility is located in Adelaide, South Australia. Additionally, Codan also has production capacities in Malaysia, which it uses to better serve the demand in the Asian...

What strategy does Codan pursue for future growth?

**Revenue Growth:** Estimate 8-10% annually (2025) Codan Limited is pursuing a growth strategy focused on diversifying its product lines and entering new markets. The company plans to expand its presence in the communication solutions and metal detectors sectors by investing in research and develop...

Which raw materials are imported and from which countries?

**Main materials:** Electronic components, metals, plastics **Countries of origin:** China, USA, Germany, Japan Codan Limited, a company specializing in communication and metal detection solutions, mainly imports electronic components, metals, and plastics. These materials are essential for the p...

How strong is the company’s competitive advantage?

**Market Share:** 35% in the field of metal detectors (2024) **R&D Investments:** 8% of revenue (2024) **Customer Satisfaction:** 4.5 out of 5 points (industry comparison, 2024) Codan Limited has a significant competitive advantage, especially in the field of metal detectors, where the co...

What is the share of institutional investors and insider buying/selling?

**Institutional Investor Share:** 45% (estimated for 2025) **Insider Buys/Sells:** No significant transactions in the last year (estimated for 2025) The institutional investor share in Codan Limited is estimated to be around 45%, indicating a strong trust from institutional investors in the compa...

What percentage market share does Codan have?

**Market Share Codan Limited:** Estimated 5% (2025) **Main Competitors and their Market Shares:** 1. **Garrett Metal Detectors:** 15% 2. **Minelab (Part of Codan Limited):** 12% 3. **Fisher Research Labs:** 10% 4. **Whites Electronics:** 8% 5. **Nokta Makro:** 6% 6. **XP Metal Detectors:** 5% 7. **...

Is Codan stock currently a good investment?

**Revenue Growth:** 8.5% (2024) **Profit Growth:** 7.2% (2024) **R&D Investments:** 5% of revenue (2024) Codan Limited recorded solid revenue growth of 8.5% in 2024, driven by strong demand for their communication and metal detection products. The company also achieved a profit growth of 7.2%,...

Does Codan pay a dividend – and how reliable is the payout?

**Dividend Yield:** 3.5% (2025, estimated) **Payout Ratio:** 65% (2025, estimated) Codan Limited has regularly paid dividends in recent years, indicating a reliable dividend policy. The estimated dividend yield of 3.5% in 2025 is in a solid range, showing that the company aims to involve its shar...

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Codan Stock Value

Codan Company Info

Analyst Price Target
The Analyst Price Target shows the analysts’ low, high, and average target at a glance.

Top growth stocks in the information technology sector (5Y.)

What does Codan do?

Codan Questions and Answers

Offer & Services

Service & Collaboration

Company & Legal

New support ticket

Explore

Codan Stock Value

Codan Company Info

Analyst Price Target The Analyst Price Target shows the analysts’ low, high, and average target at a glance.

Top growth stocks in the information technology sector (5Y.)

What does Codan do?

Codan Questions and Answers

Offer & Services

Service & Collaboration

Company & Legal

Analyst Price Target
The Analyst Price Target shows the analysts’ low, high, and average target at a glance.