IDP EDUCATION LIMITED (IEL)
Share Price Analysis and Chart

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IEL - IDP EDUCATION LIMITED

FNArena Sector : Education & Tuition
Year End: June
GICS Industry Group : Consumer Services
Debt/EBITDA: 1.37
Index: ASX100 | ASX200 | ASX300 | ALL-ORDS

IDP Education is an international organisation offering student placements in Australia, New Zealand, the UK and North America. It has been listed since 2015 when 50% shareholder Seek sold out. Seek had become a 50% shareholder in 2006.

LAST PRICE CHANGE +/- CHANGE % VOLUME

$12.63

21 Nov
2024

-0.550

OPEN

$13.14

-4.17%

HIGH

$13.18

1,481,945

LOW

$12.11

TARGET
$18.038 42.8% upside
Franking for last dividend paid out: 61%
OTHER COMPANIES IN THE SAME SECTOR
3PL . AKG . CLU . EVO . JAN . NXD . OLL . RCL .
FNARENA'S MARKET CONSENSUS FORECASTS
IEL: 1
Title FY23
Actual		 FY24
Actual		 FY25
Forecast		 FY26
Forecast
EPS (cps) xxx 47.7 47.4 xxx
DPS (cps) xxx 34.0 34.2 xxx
EPS Growth xxx - 10.6% - 0.6% xxx
DPS Growth xxx - 17.1% 0.6% xxx
PE Ratio xxx N/A 26.0 xxx
Dividend Yield xxx N/A 2.8% xxx
Div Pay Ratio(%) xxx 71.3% 72.1% xxx

Dividend yield today if purchased 3 years ago: 0.90%

DIVIDEND YIELD CALCULATOR

Dividend Yield Today On Last Actual Payout :

 2.76

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: 11/09 - ex-div 9c (franking 61%)

HISTORICAL DATA ARE ALL IN AUD
Copyright © 2024 FactSet UK Limited. All rights reserved
Title 201920202021202220232024
EPS Basic xxxxxxxxxxxxxxx47.7
DPS All xxxxxxxxxxxxxxx34.0
Sales/Revenue xxxxxxxxxxxxxxx1,033.3 M
Book Value Per Share xxxxxxxxxxxxxxx187.8
Net Operating Cash Flow xxxxxxxxxxxxxxx116.7 M
Net Profit Margin xxxxxxxxxxxxxxx12.85 %

EPS Basic

DPS All

Sales/Revenue

Book Value Per Share

Net Operating Cash Flow

Net Profit Margin

Title 201920202021202220232024
Return on Capital Employed xxxxxxxxxxxxxxx25.54 %
Return on Invested Capital xxxxxxxxxxxxxxx15.47 %
Return on Assets xxxxxxxxxxxxxxx10.66 %
Return on Equity xxxxxxxxxxxxxxx25.54 %
Return on Total Capital xxxxxxxxxxxxxxx26.46 %
Free Cash Flow ex dividends xxxxxxxxxxxxxxx-22.8 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 xxxxxxxxxxxxxxx24 M
Long Term Debt xxxxxxxxxxxxxxx372 M
Total Debt xxxxxxxxxxxxxxx396 M
Goodwill - Gross xxxxxxxxxxxxxxx251 M
Cash & Equivalents - Generic xxxxxxxxxxxxxxx121 M
Price To Book Value xxxxxxxxxxxxxxx8.07

Short-Term Debt

Long Term Debt

Total Debt

Goodwill - Gross

Cash & Equivalents - Generic

Price To Book Value

Title 201920202021202220232024
Capex xxxxxxxxxxxxxxx54.2 M
Capex % of Sales xxxxxxxxxxxxxxx5.24 %
Cost of Goods Sold xxxxxxxxxxxxxxx629 M
Selling, General & Admin. Exp & Other xxxxxxxxxxxxxxx171 M
Research & Development xxxxxxxxxxxxxxx-
Investments - Total xxxxxxxxxxxxxxx8 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

0.5

No. Of Recommendations

4
BROKER DATE RATING RECOMMENDATION TARGET PRICE % TO REACH TARGET COMMENTARY

Macquarie

xx/xx/xxxx

3

xxxxxxx

$xx.xx

xx.xx%

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Morgan Stanley

xx/xx/xxxx

1

xxxxxxxxxx

$xx.xx

xx.xx%

Broker commentary and detailed analysis is available for Full Members Only.
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Morgans

30/08/2024

1

Upgrade to Add from Hold

$18.20

44.10%

IDP Education reported FY24 underlying profit down -1% year on year but the second half reflected the impact of policy changes, with profit down -34%. IELTS volumes were down -28% and while placements were flat, new policy was yet to impact, Morgans notes.

Management expects new international student admissions to be down -20-25% in FY25 but hopes to outperform this via meaningful market share gains. Morgans sees earnings falling -12%, with some benefits from pricing, market share gains and solid cost control.

The broker has been looking for more certainty in the near term earnings ‘base’ during this period of ongoing policy changes. There is
clearly still some downside risk, but Morgans feels like the majority of the reset is captured.

Riding out near-term volatility may be required, however, the broker believes IDP Education can return to delivering sustained growth from FY26. Upgrade to Add from Hold, target rises to $18.20 from $17.40.

FORECAST
Morgans forecasts a full year FY25 dividend of 34.00 cents and EPS of 48.00 cents.
Morgans forecasts a full year FY26 dividend of 40.00 cents and EPS of 59.00 cents.

UBS

xx/xx/xxxx

3

xxxxxxx

$xx.xx

xx.xx%

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Access Stockbroker Research History >
EXTRA COVERAGE
Display All Commentary

No. Of Recommendations

2

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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Jarden

10/10/2024

2

Overweight

$19.60

55.19%

Jarden highlights IDP Education has scope to outperform industry volumes in FY25 with the potential to increase market share to offset the adverse impacts of lower student volumes, replicating the same trend achieved in the FY24 results.

The analyst also believes there is limited downside risks to EPS in FY25 and views the current fiscal year as a trough in the earnings cycle with scope for a recovery in earnings growth over FY26/FY27.

Jarden reiterates Overweight rating and $19.60 target price. There are no changes to the broker's earnings forecasts.

FORECAST
Jarden forecasts a full year FY25 dividend of 30.50 cents and EPS of 46.90 cents.
Jarden forecasts a full year FY26 dividend of 35.70 cents and EPS of 55.00 cents.
Access Extra Coverage Research History >

IEL STOCK CHART

FNArena News on IEL

1
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2
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3
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Oct 31 2024 - Rudi's View

Latest Education & Tuition News

1
Treasure Chest: IDP Education

Oct 09 2024 - Treasure Chest
2
Might FY25 Be The Trough For IDP Education?

Jun 11 2024 - Australia
3
IDP Education Shifts Into Fastlane Acceleration

Aug 31 2023 - Australia
4
Treasure Chest: IDP Education

Jul 10 2023 - Treasure Chest
5
IDP Education Suffers Flesh Wound In Canada

May 30 2023 - Australia
6
Innovation And Structural Growth Driving IDP Education

May 22 2023 - Australia
7
Growth for IDP Education With New Intake

Sep 26 2022 - Australia
8
Treasure Chest: Trend Up For IDP Education

Jul 14 2022 - Treasure Chest
9
Treasure Chest: Janison Education Looks Poised

Jul 13 2022 - Treasure Chest
10
Back To E-School

Mar 07 2022 - Small Caps