CodanASX:CDA +0.30%84 ROE % is 26.32% as of Dec. 2025, which is 13% above its 10-year median of 23.21. GuruFocus rates ASX:CDA with a GF Score™ of 84/100 and a GF Value™ of A$20.77 (Significantly Overvalued). The stock has 7 warning signs investors should review. Among 2,422 Hardware companies, Codan ranks better than 93.6% on this metric.
ROE % is calculated as Net Income divided by its average Total Stockholders Equity over a certain period of time. Codan's annualized net income for the quarter that ended in Dec. 2025 was A$142.3 Mil. Codan's average Total Stockholders Equity over the quarter that ended in Dec. 2025 was A$540.9 Mil. Therefore, Codan's annualized ROE % for the quarter that ended in Dec. 2025 was 26.32%.
The historical rank and industry rank for Codan's ROE % or its related term are showing as below:
ASX:CDA'
s ROE % Range Over the Past 10 Years
Min: 11.59 Med: 23.21 Max: 32.8
Current: 24.42
During the past 13 years, Codan's highest ROE % was 32.80%. The lowest was 11.59%. And the median was 23.21%.
ASX:CDA's ROE % is ranked better than 93.6% of 2422
companies
in the Hardware industry
Industry Median: 4.635
vs ASX:CDA: 24.42
Codan (ASX:CDA) ROE % Explanation
ROE % measures the rate of return on the ownership interest (shareholder's equity) of the common stock owners. It measures a firm's efficiency at generating profits from every unit of shareholders' equity (also known as net assets or assets minus liabilities). ROE % shows how well a company uses investment funds to generate earnings growth. ROE %s between 15% and 20% are considered desirable.
The factors that affect a company's ROE % can be illustrated with the three-step DuPont Analysis:
Note:
The net income data used here is two times the semi-annual (Dec. 2025) net income data. The Revenue data used here is two times the semi-annual (Dec. 2025) revenue data. The same rule applies to Pre-Tax Income and Operating Income.
* In the five-step DuPont Analysis, Operating Income is only available for non-financial companies. Thus, for Insurance companies, we use EBIT as a substitution of Operating Income. For Banks, both Operating Income and EBIT is unavailable. Thus we combined Interest Burden and Operating Margin % into Pretax Margin %, and the DuPont Analysis is divided into four components instead.
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
Be Aware
Net Income is used.
Because a company can increase its ROE % by having more financial leverage, it is important to watch the equity multiplier when investing in high ROE % companies. Like ROA %, ROE % is calculated with only 12 months data. Fluctuations in company's earnings or business cycles can affect the ratio drastically. It is important to look at the ratio from a long term perspective.
Asset light businesses require very few assets to generate very high earnings. Their ROE %s can be extremely high.
Codan ROE % Related Terms
Codan ROE % Historical Data
* Premium members only.
The historical data trend for Codan's ROE % can be seen below:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
For the Scientific & Technical Instruments subindustry, Codan's ROE %, along with its competitors' market caps and ROE % 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 ROE % vs Hardware Industry
For the Hardware industry and Technology sector, Codan's ROE % distribution charts can be found below:
* The bar in red indicates where Codan's ROE % falls into.
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
In the calculation of annual ROE %, the net income of the last fiscal year and the average total shareholder equity over the fiscal year are used. In calculating the quarterly data,
the net income data used here is two times the semi-annual (Dec. 2025) net income data.
ROE % is displayed in the 30-year financial page.
Codan (ASX:CDA) has a ROE % of 26.32% as of Dec. 2025. Return on equity is the ratio of current-period net income to average two-period total equity. View historical data on Codan and its competitors. This is 13% above median its historical median of 23.21. Over the past decade, Codan's ROE % has ranged from 11.59 to 32.80. According to the industry distribution chart, Codan ranks #155 out of 2422 companies in the Hardware industry, placing it in the top 6.4%.
Is Codan's ROE % too high?
Codan's current ROE % of 26.32% is 13% above median its 10-year median of 23.21. Over the past 10 years, this metric has ranged from a low of 11.59 to a high of 32.80. The Hardware industry median ROE % is 4.64. Codan's value of 26.32% is 467.9% above this industry median. Based on the distribution chart, Codan ranks #155 out of 2422 companies in the Hardware industry, which is in the top quartile — a strong position relative to peers. Overall, Codan has a GF Score™ of 84/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Codan's ROE % compare to COHR and KEYS?
According to the Hardware industry distribution chart, Codan ranks #155 out of 2422 companies for ROE %. This places Codan in the top 6% of its industry — outperforming the majority of peers. The industry median ROE % is 4.64. Codan's value of 26.32% is 467.9% above this benchmark. Historically, Codan's own ROE % has ranged from 11.59 to 32.80 over the past decade. While the company's 10-year median is 23.21 vs. the industry median of 4.64, Codan has consistently been above the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good ROE % for a Hardware company?
The median ROE % among Hardware companies is 4.64, based on 2,422 companies in the industry. Companies in the top quartile (top 25%) have a ROE % significantly above this median, while those in the bottom quartile fall well below. However, ROE % should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Codan's current ROE % of 26.32% is 467.9% above the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high ROE % mean?
A high ROE % can signal that a stock is expensive relative to its fundamentals. Return on equity is the ratio of current-period net income to average two-period total equity. View historical data on Codan and its competitors. For the Hardware industry, the median ROE % is 4.64 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Codan's current ROE % is 26.32%, which is 13% above median its own 10-year median of 23.21. 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$20.77, compared to a current price of A$43.99 — trading 111.8% above its estimated fair value. The current ROE % is 26.32%, which is 13% above median its 10-year median of 23.21 and 467.9% above the Hardware industry median of 4.64. Codan's overall GF Score™ is 84/100 with 7 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is ROE % calculated?
ROE % is calculated from a company's financial statements. For Codan (ASX:CDA), the current ROE % is 26.32% as of Dec. 2025. 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$43.99 is trading 111.8% above its estimated GF Value™ of A$20.77.
GuruFocus considers Codan to be Significantly Overvalued.
Key valuation signals for ASX:CDA:
ROE %: 26.32% (13% above median its 10-year median of 23.21)
GF Value™: A$20.77 vs. price of A$43.99 (111.8% above fair value)
Industry Position: 467.9% above the Hardware median (#155 of 2422)
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 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.
84GF Score
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