OBJECTIVE CORPORATION LIMITED (OCL)
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OCL

OCL - OBJECTIVE CORPORATION LIMITED

FNArena Sector : IT & Support
Year End: June
GICS Industry Group : Software & Services
Debt/EBITDA: 0.26
Index: ALL-ORDS | ALL-TECH

LAST PRICE CHANGE +/- CHANGE % VOLUME

$20.35

01 Sep
2025

-0.580

OPEN

$20.50

-2.77%

HIGH

$21.13

60,384

LOW

$20.22

TARGET
$22.433 10.2% upside
OTHER COMPANIES IN THE SAME SECTOR
APX . DTL . FLN . HSN . IRI . STG . TNE .
FNARENA'S MARKET CONSENSUS FORECASTS
OCL: 1
Title FY24
Actual		 FY25
Actual		 FY26
Forecast		 FY27
Forecast
EPS (cps) xxx 37.2 39.7 xxx
DPS (cps) xxx 22.0 24.0 xxx
EPS Growth xxx 12.9% 6.9% xxx
DPS Growth xxx 29.4% 9.1% xxx
PE Ratio xxx N/A 51.1 xxx
Dividend Yield xxx N/A 1.2% xxx
Div Pay Ratio(%) xxx 59.2% 60.4% xxx

Dividend yield today if purchased 3 years ago: 1.46%

DIVIDEND YIELD CALCULATOR

Dividend Yield Today On Last Actual Payout :

 1.08

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 202020212022202320242025
EPS Basic xxxxxxxxxxxxxxx37.2
DPS All xxxxxxxxxxxxxxx22.0
Sales/Revenue xxxxxxxxxxxxxxx120.1 M
Book Value Per Share xxxxxxxxxxxxxxx111.1
Net Operating Cash Flow xxxxxxxxxxxxxxx46.3 M
Net Profit Margin xxxxxxxxxxxxxxx29.51 %

EPS Basic

DPS All

Sales/Revenue

Book Value Per Share

Net Operating Cash Flow

Net Profit Margin

Title 202020212022202320242025
Return on Capital Employed xxxxxxxxxxxxxxx35.71 %
Return on Invested Capital xxxxxxxxxxxxxxx32.58 %
Return on Assets xxxxxxxxxxxxxxx19.00 %
Return on Equity xxxxxxxxxxxxxxx35.71 %
Return on Total Capital xxxxxxxxxxxxxxx33.05 %
Free Cash Flow ex dividends xxxxxxxxxxxxxxx20.9 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 202020212022202320242025
Short-Term Debt xxxxxxxxxxxxxxx3 M
Long Term Debt xxxxxxxxxxxxxxx8 M
Total Debt xxxxxxxxxxxxxxx11 M
Goodwill - Gross xxxxxxxxxxxxxxx40 M
Cash & Equivalents - Generic xxxxxxxxxxxxxxx99 M
Price To Book Value xxxxxxxxxxxxxxx17.25

Short-Term Debt

Long Term Debt

Total Debt

Goodwill - Gross

Cash & Equivalents - Generic

Price To Book Value

Title 202020212022202320242025
Capex xxxxxxxxxxxxxxx16.3 M
Capex % of Sales xxxxxxxxxxxxxxx13.54 %
Cost of Goods Sold xxxxxxxxxxxxxxx14 M
Selling, General & Admin. Exp & Other xxxxxxxxxxxxxxx69 M
Research & Development xxxxxxxxxxxxxxx16 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

UBS

xx/xx/xxxx

3

xxxxxxx

$xx.xx

xx.xx%

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Shaw and Partners

25/08/2025

1

Buy, High Risk

$23.90

17.44%

Objective Corporation reported FY25 annual recurring revenue (ARR) of $120m, up 15.1% and in line with guidance, observes Shaw and Partners.

Revenue of $120m was below the broker's forecast, while cash earnings of $27.2m were also softer, though free cash flow of $27.6m beat expectations. The group ended FY25 with $99m in cash and no debt.

The broker notes hitting the 15% ARR target is significant after two years of misses, with growth supported by product expansion, AI and the upcoming Build launch.

The analysts forecast cash earnings to rise 18% in FY26 and to exceed 20% in subsequent years, placing the company among a select group of ASX technology stocks with this level of growth.

Shaw upgrades its long-term revenue forecasts and raises its target price to $23.90 from $15.50, also driven by higher forecast cashflows and a lower cost of capital. Buy, High Risk rating kept.

FORECAST
Shaw and Partners forecasts a full year FY26 dividend of 22.00 cents and EPS of 36.20 cents.
Shaw and Partners forecasts a full year FY27 dividend of 26.00 cents and EPS of 43.50 cents.

Morgans

xx/xx/xxxx

3

xxxx

$xx.xx

xx.xx%

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Login above or Get a Free Trial
Access Stockbroker Research History >
EXTRA COVERAGE
Display All Commentary

No. Of Recommendations

1

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

Moelis

26/08/2025

3

Hold

$24.29

19.36%

Objective Corp reported FY25 annual recurring revenue (ARR) of $120m, up 15% and in line with management's targets, observes Moelis.

The broker points to momentum in Nexus, with the Scottish Government conversion and ARR uplifts of up to 2.5 times from migrations.

Planning & Building ARR grew 31%, supported by consolidation in New Zealand and pricing, explains the analyst, while Australian Build revenue is expected from FY26.

Cash earnings margins rose to 21.7%, with management also exploring AI productivity gains, notes the analyst.

Moelis lifts its estimates on stronger ARR and Nexus progress, raising its target price to $24.29 from $20.19. A Hold rating is maintained.

FORECAST
Moelis forecasts a full year FY26 dividend of 24.00 cents and EPS of 39.70 cents.
Moelis forecasts a full year FY27 dividend of 27.00 cents and EPS of 44.50 cents.
Access Extra Coverage Research History >

OCL STOCK CHART

FNArena News on OCL

1
Australian Broker Call *Extra* Edition – Aug 26, 2025

Aug 26 2025 - Daily Market Reports
2
FNArena Corporate Results Monitor – 22-08-2025

Aug 22 2025 - Australia
3
In Case You Missed It – BC Extra Upgrades & Downgrades – 04-07-25

Jul 04 2025 - Weekly Reports
4
Australian Broker Call *Extra* Edition – Jul 02, 2025

Jul 02 2025 - Daily Market Reports
5
Rudi’s View: Is Buy The Dip Changing Markets?

May 21 2025 - Rudi's View

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