IPH LIMITED (IPH)
Share Price Analysis and Chart

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IPH - IPH LIMITED

FNArena Sector : Legal
Year End: June
GICS Industry Group : Commercial & Professional Services
Debt/EBITDA: 2.55
Index: ASX200 | ASX300 | ALL-ORDS

IPH Ltd is Australia's largest intellectual property services company providing protection, commercialisation and management of intellectual property. It has been a listed company since 2014.

LAST PRICE CHANGE +/- CHANGE % VOLUME

$5.14

21 Nov
2024

0.030

OPEN

$5.13

0.59%

HIGH

$5.20

1,163,602

LOW

$5.11

TARGET
$7.212 40.3% upside
Franking for last dividend paid out: 35%
OTHER COMPANIES IN THE SAME SECTOR
SHJ .
FNARENA'S MARKET CONSENSUS FORECASTS
IPH: 1
Title FY23
Actual		 FY24
Actual		 FY25
Forecast		 FY26
Forecast
EPS (cps) xxx 25.1 46.2 xxx
DPS (cps) xxx 35.0 34.3 xxx
EPS Growth xxx - 12.4% 84.0% xxx
DPS Growth xxx 6.1% - 2.1% xxx
PE Ratio xxx N/A 11.1 xxx
Dividend Yield xxx N/A 6.7% xxx
Div Pay Ratio(%) xxx 139.6% 74.2% xxx

Dividend yield today if purchased 3 years ago: 3.78%

DIVIDEND YIELD CALCULATOR

Dividend Yield Today On Last Actual Payout :

 6.84

Estimated Dividend Growth
(Average Of Past Three Years)

  %

Amount Invested

 $ 

Tell Me The Dividend After This Many Years
Past performance is no guarantee for the future. Investors should take into account that heavy swings in share price or exceptional circumstances (a la 2009) can have a significant impact on short term calculations and averages

Last ex-div: 27/02 - ex-div 16c (franking 35%)

HISTORICAL DATA ARE ALL IN AUD
Copyright © 2024 FactSet UK Limited. All rights reserved
Title 201920202021202220232024
EPS Basic xxxxxxxxxxxxxxx25.1
DPS All xxxxxxxxxxxxxxx35.0
Sales/Revenue xxxxxxxxxxxxxxx605.6 M
Book Value Per Share xxxxxxxxxxxxxxx257.4
Net Operating Cash Flow xxxxxxxxxxxxxxx131.9 M
Net Profit Margin xxxxxxxxxxxxxxx10.04 %

EPS Basic

DPS All

Sales/Revenue

Book Value Per Share

Net Operating Cash Flow

Net Profit Margin

Title 201920202021202220232024
Return on Capital Employed xxxxxxxxxxxxxxx10.04 %
Return on Invested Capital xxxxxxxxxxxxxxx5.72 %
Return on Assets xxxxxxxxxxxxxxx4.84 %
Return on Equity xxxxxxxxxxxxxxx10.04 %
Return on Total Capital xxxxxxxxxxxxxxx11.94 %
Free Cash Flow ex dividends xxxxxxxxxxxxxxx64.6 M

Return on Capital Employed

Return on Invested Capital

Return on Assets

Return on Equity

Return on Total Capital

Free Cash Flow ex dividends

Title 201920202021202220232024
Short-Term Debt xxxxxxxxxxxxxxx10 M
Long Term Debt xxxxxxxxxxxxxxx482 M
Total Debt xxxxxxxxxxxxxxx492 M
Goodwill - Gross xxxxxxxxxxxxxxx594 M
Cash & Equivalents - Generic xxxxxxxxxxxxxxx76 M
Price To Book Value xxxxxxxxxxxxxxx2.44

Short-Term Debt

Long Term Debt

Total Debt

Goodwill - Gross

Cash & Equivalents - Generic

Price To Book Value

Title 201920202021202220232024
Capex xxxxxxxxxxxxxxx11.0 M
Capex % of Sales xxxxxxxxxxxxxxx1.82 %
Cost of Goods Sold xxxxxxxxxxxxxxx-
Selling, General & Admin. Exp & Other xxxxxxxxxxxxxxx413 M
Research & Development xxxxxxxxxxxxxxx-
Investments - Total xxxxxxxxxxxxxxx2 M

Capex

Capex % of Sales

Cost of Goods Sold

Selling, General & Admin. Exp & Other

Research & Development

Investments - Total

EXPERT VIEWS
Display All Commentary

Sentiment Indicator

1.0

No. Of Recommendations

5
BROKER DATE RATING RECOMMENDATION TARGET PRICE % TO REACH TARGET COMMENTARY

Macquarie

xx/xx/xxxx

1

xxxxxxxxxx

$xx.xx

xx.xx%

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Morgan Stanley

xx/xx/xxxx

1

xxxxxxxxxx

$xx.xx

xx.xx%

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Morgans

15/11/2024

1

Add

$6.80

32.30%

Morgans believes the AGM trading update from IPH was broadly in line with expectations, with negative forex changes impacting like-for-like revenue and EBITDA for 1Q25.

Management highlighted revenue and EBITDA improvements in A&NZ and Canada, with a slight decline in Asia. Australian filings are down -4.8% for the first four months, compared to a -3.1% decline for the market.

Canadian litigation is expected to be lower in 2H25 due to case settlements in 1Q25.

Morgans lowers EPS estimates by -3% for FY25-FY27, with currency as a "swing" factor.

Add rating remains unchanged. Target price decreases to $6.80 from $7.55.

FORECAST
Morgans forecasts a full year FY25 dividend of 34.00 cents and EPS of 45.00 cents.
Morgans forecasts a full year FY26 dividend of 36.00 cents and EPS of 48.00 cents.

Ord Minnett

xx/xx/xxxx

1

xxxxxxxxxx xx xxxxxxxx xxxx xxx

$xx.xx

xx.xx%

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UBS

xx/xx/xxxx

1

xxx

$xx.xx

xx.xx%

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EXTRA COVERAGE
Display All Commentary

No. Of Recommendations

4

Please note: unlike Broker Call Report, BC Extra is not updated daily. The info you see might not be the latest. FNArena does its best to update ASAP.

BROKER DATE RATING RECOMMENDATION TARGET PRICE % TO REACH TARGET COMMENTARY

Goldman Sachs

xx/xx/xxxx

1

xxx

$xx.xx

xx.xx%

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Petra Capital

xx/xx/xxxx

1

xxx

$xx.xx

xx.xx%

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Jarden

28/08/2024

2

Overweight

$9.15

78.02%

Jarden assesses IPH reported better than expected FY24 EPS results and above consensus, due to strong Canadian revenues and an improvement in Australia's market share. Asian results were the weak spot with 3%-4% EBITDA growth expected in the near term.

The Bereskin & Parr acquisition boosts Canadian market share to around 35% and adds circa 3% to FY25 earnings forecasts.

Higher corporate costs, headwinds to the Australian operations, weaker Asia, alongside adjustments from the equity raising and EPS accretion from the acquistion, they all result in forecast EPS declines of -2% in FY25 up to -3% in FY27.

The stock is Overweight rated. Target price falls to $9.15 from $10.10.

FORECAST
Jarden forecasts a full year FY25 dividend of 36.70 cents and EPS of 48.20 cents.
Jarden forecasts a full year FY26 dividend of 40.40 cents and EPS of 53.20 cents.

Canaccord Genuity

xx/xx/xxxx

1

xxx

$xx.xx

xx.xx%

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Access Extra Coverage Research History >

IPH STOCK CHART

FNArena News on IPH

1
Rudi’s View: The Importance Of ‘Quality’ Growth

Nov 21 2024 - Rudi's View
2
Australian Broker Call *Extra* Edition – Nov 20, 2024

Nov 20 2024 - Daily Market Reports
3
Australian Broker Call *Extra* Edition – Nov 19, 2024

Nov 19 2024 - Daily Market Reports
4
Rudi’s View: A Rally With No Earnings Support

Nov 14 2024 - Rudi's View
5
Australian Broker Call *Extra* Edition – Nov 14, 2024

Nov 14 2024 - Daily Market Reports

Latest Legal News

1
IPH Ready For Further Expansion

Oct 11 2022 - Small Caps
2
IPH Ltd’s Growth Plans Undaunted

Sep 08 2020 - Australia
3
Treasure Chest: Class Actions Entice Shine Corporate

Mar 27 2019 - Treasure Chest
4
Confidence Grows In IPH

Aug 20 2018 - Australia
5
Brokers Take Knife To Xenith IP

Oct 16 2017 - Small Caps
6
IPH Expands NZ Presence

Oct 12 2017 - Small Caps
7
Wait For Buying Opportunity In JB Hi-Fi

Oct 11 2016 - Technicals
8
Growth Opportunities Abound For Xenith

Sep 01 2016 - Small Caps
9
IPH Advancing On Acquisition Targets

Aug 22 2016 - Australia
10
Opportunity In IPH

Jun 14 2016 - Technicals