OBJECTIVE CORPORATION LIMITED (OCL)
Share Price Analysis and Chart

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OCL

OCL - OBJECTIVE CORPORATION LIMITED

FNArena Sector : IT & Support
Year End: June
GICS Industry Group : Software & Services
Debt/EBITDA: 0.32
Index: ALL-ORDS | ALL-TECH

LAST PRICE CHANGE +/- CHANGE % VOLUME

$15.12

24 Mar
2025

0.020

OPEN

$14.99

0.13%

HIGH

$15.30

27,476

LOW

$14.75

TARGET
$16.083 6.4% upside
OTHER COMPANIES IN THE SAME SECTOR
APX . DTL . FLN . HSN . IRI . STG . TNE .
FNARENA'S MARKET CONSENSUS FORECASTS
OCL: 1
Title FY23
Actual		 FY24
Actual		 FY25
Forecast		 FY26
Forecast
EPS (cps) xxx 32.9 36.0 xxx
DPS (cps) xxx 17.0 18.8 xxx
EPS Growth xxx 48.3% 9.5% xxx
DPS Growth xxx 25.9% 10.3% xxx
PE Ratio xxx N/A 42.0 xxx
Dividend Yield xxx N/A 1.2% xxx
Div Pay Ratio(%) xxx 51.6% 52.0% xxx

Dividend yield today if purchased 3 years ago: 0.94%

DIVIDEND YIELD CALCULATOR

Dividend Yield Today On Last Actual Payout :

 1.13

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: 09/09 - (franking ex-di

HISTORICAL DATA ARE ALL IN AUD
Copyright © 2025 FactSet UK Limited. All rights reserved
Title 201920202021202220232024
EPS Basic xxxxxxxxxxxxxxx32.9
DPS All xxxxxxxxxxxxxxx17.0
Sales/Revenue xxxxxxxxxxxxxxx114.8 M
Book Value Per Share xxxxxxxxxxxxxxx97.1
Net Operating Cash Flow xxxxxxxxxxxxxxx55.8 M
Net Profit Margin xxxxxxxxxxxxxxx27.29 %

EPS Basic

DPS All

Sales/Revenue

Book Value Per Share

Net Operating Cash Flow

Net Profit Margin

Title 201920202021202220232024
Return on Capital Employed xxxxxxxxxxxxxxx37.78 %
Return on Invested Capital xxxxxxxxxxxxxxx32.99 %
Return on Assets xxxxxxxxxxxxxxx18.67 %
Return on Equity xxxxxxxxxxxxxxx37.78 %
Return on Total Capital xxxxxxxxxxxxxxx37.23 %
Free Cash Flow ex dividends xxxxxxxxxxxxxxx42.0 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 xxxxxxxxxxxxxxx3 M
Long Term Debt xxxxxxxxxxxxxxx11 M
Total Debt xxxxxxxxxxxxxxx13 M
Goodwill - Gross xxxxxxxxxxxxxxx39 M
Cash & Equivalents - Generic xxxxxxxxxxxxxxx96 M
Price To Book Value xxxxxxxxxxxxxxx12.39

Short-Term Debt

Long Term Debt

Total Debt

Goodwill - Gross

Cash & Equivalents - Generic

Price To Book Value

Title 201920202021202220232024
Capex xxxxxxxxxxxxxxx15.1 M
Capex % of Sales xxxxxxxxxxxxxxx13.15 %
Cost of Goods Sold xxxxxxxxxxxxxxx14 M
Selling, General & Admin. Exp & Other xxxxxxxxxxxxxxx65 M
Research & Development xxxxxxxxxxxxxxx17 M
Investments - Total xxxxxxxxxxxxxxx0 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

0.3

No. Of Recommendations

3
BROKER DATE RATING RECOMMENDATION TARGET PRICE % TO REACH TARGET COMMENTARY

Morgans

xx/xx/xxxx

3

xxxx

$xx.xx

xx.xx%

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UBS

28/02/2025

3

Neutral

$16.00

5.82%

While Objective Corp reiterated FY25 annual recurring revenue growth of 15%, UBS is taking a more conservative view and is forecasting a 13% increase. 

The broker notes the company managed costs well in 1H25 but it still increased 7% or $2.5m, resulting in an overall cash EBITDA margin decline of -40bps to 26.1%. While strong, the margin is down from around 50% in the past 12-18 months, and the broker expects the company to return to past margins by FY26.

The broker raised D&A forecasts which led to an FY25 EPS reduction of -3% and FY26 of -9%. Target price drops to $16 from $17. Neutral retained.

FORECAST
UBS forecasts a full year FY25 EPS of 37.00 cents.
UBS forecasts a full year FY26 EPS of 41.00 cents.

Shaw and Partners

xx/xx/xxxx

1

xxx

$xx.xx

xx.xx%

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

3

xxxxxxx

$xx.xx

xx.xx%

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Moelis

05/03/2025

1

Buy

$17.71

17.13%

Moelis' conclusion is Objective Corp's 1H25 result was in line overall, with some hits and misses within. The key negative was annual recurring revenue (ARR) of $107m at the end of 1H which was only $2m higher than end-FY24. 

Management retained guidance of 15% ARR growth in FY25 which translates to $120m and is ambitious, according to the broker. 

The broker expects 2H revenue growth to outpace cost growth which results in a rise in FY25 EBITDA estimate as R&D expense is revised lower for 2H. 

Target price is $17.71 and rating maintained at Buy.

FORECAST
Moelis forecasts a full year FY25 dividend of 34.90 cents and EPS of 51.90 cents.
Moelis forecasts a full year FY26 dividend of 38.20 cents and EPS of 58.80 cents.
Access Extra Coverage Research History >

OCL STOCK CHART

FNArena News on OCL

1
Australian Broker Call *Extra* Edition – Mar 06, 2025

Mar 06 2025 - Daily Market Reports
2
Australian Broker Call *Extra* Edition – Mar 05, 2025

Mar 05 2025 - Daily Market Reports
3
FNArena Corporate Results Monitor – 28-02-2025

Feb 28 2025 - Australia
4
Rudi’s View: Market Reflects Risk & Opportunities

Oct 09 2024 - Rudi's View
5
Australian Broker Call *Extra* Edition – Oct 08, 2024

Oct 08 2024 - Daily Market Reports

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