CSL – Still a Buy? + Invitation to Next Value3 Q&A

The recent market rally has pushed many high-quality ASX stocks back toward their all-time highs.

Since 7 April, Pro Medicus has surged nearly 60%, now trading around $280—just shy of its record $299. Wisetech is also bouncing back, rising roughly 35% over the same period.

It's natural to wonder: Have I missed the boat?

Not necessarily. One top-tier ASX company is still trading well below its peak—and it may represent a rare opportunity.

That company is CSL.

CSL: Australia's Greatest Healthcare Success Story

Founded in 1916, CSL is one of Australia's most successful global healthcare companies.

It operates through three core units:

• CSL Behring – blood plasma collection
• CSL Seqirus – a leading influenza vaccine provider
• CSL Vifor – treatments for iron deficiency and kidney disease (acquired in 2022)

Despite a long and impressive track record, CSL has struggled in recent years. Its share price is down 17% over the past 5 years, weighed down by underwhelming performance and rising debt.

So... what now?

Is CSL on the Cusp of a New Phase?

CSL remains one of the most widely held companies on the ASX.

Some long-time shareholders are questioning whether it's time to let go. Others are wondering if the current price offers a compelling entry point.

To answer those questions, Bruce Carmichael, our Financial Specialist, recently spoke with CSL's management and has provided our Value 3 financial analysis in the video below.

Why This May Be a Turning Point

Management has acknowledged past mistakes and is making meaningful changes:

• Laser-focused on controlling costs, especially fixed costs
• Rethinking R&D to reduce risk and shorten time-to-market
• Actively exploring partnerships with companies that have promising mid-stage research

This last point could be a game-changer—allowing CSL to:

• Cut upfront costs
• Share development risks
• Broaden its product scope
• Accelerate time to market

Given the long time horizons in healthcare, CSL requires patience. But for long-term investors, the current price offers potential upside.

👉 According to our PriZone valuation, CSL is attractively priced today.