Codan (ASX:CDA) Momentum Rank: 6 (As of Aug. 21, 2026) — Near Median

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Vera Yuan
Vera Yuan
Director of Data and Quant Analytics at GuruFocus
Focused on building reliable datasets, financial models, and research tools for value-minded investors. Committed to turning complex data into practical guidance for value-investing and long-term wealth.
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Charlie Tian
Charlie Tian
Founder & CEO of GuruFocus
Dr. Charlie Tian is the founder and CEO of GuruFocus.com, a leading global investment research platform established in 2004. With a Ph.D. in physics, Dr. Tian transitioned from science to finance, applying a data-driven, disciplined approach to value investing.

ASX:CDA Codan Ltd ASX:CDA
83 GF Score
Price A$49.02
GF Value A$21.23
Valuation Significantly Overvalued
! 7 Warning Signs
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What is Codan Momentum Rank?

Codan ASX:CDA +0.29% 83 Momentum Rank is 6 as of Aug. 21, 2026, which is at its 10-year median of 6.00. GuruFocus rates ASX:CDA with a GF Score™ of 83/100 and a GF Value™ of A$21.23 (Significantly Overvalued). The stock has 7 warning signs investors should review.

Codan has the Momentum Rank of 6.

Momentum Rank measures the strength and persistence of a stock's price movement over time, rated on a scale of 1 to 10.

For Momentum Rank, we considered the residual momentum concept that was widely studied by Blitz and his colleagues as well as by Nobel Prize laureates Fama and French. However, we did not find any significant differences in the performances of stocks with different ranks of residual momentum. Therefore, we use traditional momentum instead.

Momentum Rank is determined using the standardized momentum ratio and other momentum indicators. The standardized momentum ratio is the average of the performances from 12 months ago to 1 month ago and 6 months ago to 1 month ago, divided by the beta of the stock over the past 12 months. To calculate the momentum ratio today, we would use the average of the two performance numbers.

For momentum, we found that stock price performance does not have a monotonic correlation with the momentum ratio. The stocks with the highest momentum ratios perform worse than those at about the 70th percentile. Therefore, for the momentum rank, we ranked the stocks at about the 70th percentile of the momentum ratio as the highest at 10.

A higher score reflects strong price momentum and indicates greater potential for superior performance. Conversely, a lower score indicates that momentum is either too high or too low, and stocks tend to underperform.

Please click GF Score to see more details on the GF Score's 5 Key Aspects of Analysis.

ASX:CDA vs COHR, KEYS, GRMN: Momentum Rank Comparison

For the Scientific & Technical Instruments subindustry, Codan's Momentum Rank, along with its competitors' market caps and Momentum Rank data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.

Codan Momentum Rank vs Hardware Industry

For the Hardware industry and Technology sector, Codan's Momentum Rank distribution charts can be found below:

* The bar in red indicates where Codan's Momentum Rank falls into.


ASX:CDA
83GF Score
Codan Ltd ASX:CDA
Momentum Rank is just one metric. See GF Score™, valuation, warning signs, and more.
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Frequently Asked Questions Learn more about Momentum Rank →
What does a Momentum Rank of 6 mean?
Codan (ASX:CDA) has a Momentum Rank of 6 as of Aug. 21, 2026. Momentum Rank is determined using the standardized momentum ratio, measuring the speed and velocity of price changes in a stock. View historical data on Codan and its competitors. This is near median its historical median of 6.00. Over the past decade, Codan's Momentum Rank has ranged from 1.00 to 10.00.
Is Codan's Momentum Rank too high?
Codan's current Momentum Rank of 6 is near median its 10-year median of 6.00. Over the past 10 years, this metric has ranged from a low of 1.00 to a high of 10.00. Overall, Codan has a GF Score™ of 83/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Codan's Momentum Rank compare to COHR and KEYS?
Codan's Momentum Rank of 6 can be compared against companies in the Hardware industry. Historically, Codan's own Momentum Rank has ranged from 1.00 to 10.00 over the past decade. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Momentum Rank for a Hardware company?
A good Momentum Rank depends on the Hardware industry context. However, Momentum Rank should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Momentum Rank mean?
A high Momentum Rank can signal that a stock is expensive relative to its fundamentals. Momentum Rank is determined using the standardized momentum ratio, measuring the speed and velocity of price changes in a stock. View historical data on Codan and its competitors. Codan's current Momentum Rank is 6, which is near median its own 10-year median of 6.00. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Codan stock overvalued right now?
Based on GuruFocus' analysis, Codan (ASX:CDA) is currently considered Significantly Overvalued. The stock's GF Value™ is A$21.23, compared to a current price of A$49.02 — trading 130.9% above its estimated fair value. The current Momentum Rank is 6, which is near median its 10-year median of 6.00. Codan's overall GF Score™ is 83/100 with 7 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Momentum Rank calculated?
Momentum Rank is calculated from a company's financial statements. For Codan (ASX:CDA), the current Momentum Rank is 6 as of Aug. 21, 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.

Is Codan (ASX:CDA) Overvalued in 2026?

Based on GuruFocus' analysis, Codan stock appears to be overvalued. The current stock price of A$49.02 is trading 130.9% above its estimated GF Value™ of A$21.23. GuruFocus considers Codan to be Significantly Overvalued.

Key valuation signals for ASX:CDA:

  • Momentum Rank: 6 (near median its 10-year median of 6.00)
  • GF Value™: A$21.23 vs. price of A$49.02 (130.9% above fair value)
  • GF Score™: 83/100 with 7 warning signs

No single metric tells the full story. See the ASX:CDA stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.

Codan Business Description

Other Exchanges UL4:Germany
Address Technology Park, 2 Second Avenue, Mawson Lakes, Adelaide, SA, AUS, 5095
Codan designs and sells communications products and metal detection devices. Its global customer base includes military, security, emergency responders, broadcasters, government, humanitarian organizations, utilities, and mining. Earnings are skewed to its communications business. This business provides command center technology used to coordinate public transport, emergency services, utilities, and broadcasting. Codan also produces lightweight radios suitable for attaching to drones. In metal detection, it produces hand-held metal detection devices, sold to organizations and individuals such as gold prospectors and hobbyist treasure hunters. Customers also use this equipment for safety and security. About half of group revenue comes from North America, and one-fourth is from Europe.
83GF Score

Get the complete analysis for ASX:CDA

Momentum Rank is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

A$49.02
Price
A$21.23
GF Value