TECHNOLOGY ONE LIMITED (TNE)
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TNE - TECHNOLOGY ONE LIMITED

FNArena Sector : IT & Support
Year End: September
GICS Industry Group : Software & Services
Debt/EBITDA: 0.19
Index: ASX100 | ASX200 | ASX300 | ALL-ORDS | ALL-TECH

TechnologyOne is involved in the development, sale and support of financial management and enterprise software solutions. Typical customers are universities, local councils, TAFE staff and students, as well as health and financial institutions. Founded in 1987 in Brisbane, it became a listed company in 1999. Has expanded into the UK.

LAST PRICE CHANGE +/- CHANGE % VOLUME

$16.51

21 Feb
2024

0.040

OPEN

$16.55

0.24%

HIGH

$16.96

475,676

LOW

$16.46

TARGET
$15.893 -3.7% downside
Franking for last dividend paid out: 60%
OTHER COMPANIES IN THE SAME SECTOR
APX . DTL . FLN . HSN . IRI . OCL . STG .
FNARENA'S MARKET CONSENSUS FORECASTS
TNE: 1
Title FY22
Actual
FY23
Actual
FY24
Forecast
FY25
Forecast
EPS (cps) xxx 31.7 35.2 xxx
DPS (cps) xxx 19.5 20.3 xxx
EPS Growth xxx 15.3% 11.1% xxx
DPS Growth xxx 14.7% 3.8% xxx
PE Ratio xxx N/A 47.2 xxx
Dividend Yield xxx N/A 1.2% xxx
Div Pay Ratio(%) xxx 61.6% 57.5% xxx

Dividend yield today if purchased 3 years ago: 2.38%

DIVIDEND YIELD CALCULATOR

Dividend Yield Today On Last Actual Payout :

1.18

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: 30/11 - ex-div 14.9c (franking 60%)

HISTORICAL DATA ARE ALL IN AUD
Copyright © 2024 FactSet UK Limited. All rights reserved
Title 201820192020202120222023
EPS Basic xxxxxxxxxxxxxxx31.7
DPS All xxxxxxxxxxxxxxx19.5
Sales/Revenue xxxxxxxxxxxxxxx429.4 M
Book Value Per Share xxxxxxxxxxxxxxx94.3
Net Operating Cash Flow xxxxxxxxxxxxxxx193.7 M
Net Profit Margin xxxxxxxxxxxxxxx23.96 %

EPS Basic

DPS All

Sales/Revenue

Book Value Per Share

Net Operating Cash Flow

Net Profit Margin

Title 201820192020202120222023
Return on Capital Employed xxxxxxxxxxxxxxx37.75 %
Return on Invested Capital xxxxxxxxxxxxxxx34.48 %
Return on Assets xxxxxxxxxxxxxxx16.06 %
Return on Equity xxxxxxxxxxxxxxx37.75 %
Return on Total Capital xxxxxxxxxxxxxxx39.08 %
Free Cash Flow ex dividends xxxxxxxxxxxxxxx129.3 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 201820192020202120222023
Short-Term Debt xxxxxxxxxxxxxxx9 M
Long Term Debt xxxxxxxxxxxxxxx24 M
Total Debt xxxxxxxxxxxxxxx33 M
Goodwill - Gross xxxxxxxxxxxxxxx55 M
Cash & Equivalents - Generic xxxxxxxxxxxxxxx223 M
Price To Book Value xxxxxxxxxxxxxxx16.45

Short-Term Debt

Long Term Debt

Total Debt

Goodwill - Gross

Cash & Equivalents - Generic

Price To Book Value

Title 201820192020202120222023
Capex xxxxxxxxxxxxxxx90.1 M
Capex % of Sales xxxxxxxxxxxxxxx20.99 %
Cost of Goods Sold xxxxxxxxxxxxxxx250 M
Selling, General & Admin. Exp & Other xxxxxxxxxxxxxxx59 M
Research & Development xxxxxxxxxxxxxxx-
Investments - Total xxxxxxxxxxxxxxx-

Capex

Capex % of Sales

Cost of Goods Sold

Selling, General & Admin. Exp & Other

Research & Development

Investments - Total

EXPERT VIEWS
Display All Commentary

Sentiment Indicator

-0.1

No. Of Recommendations

7
BROKER DATE RATING RECOMMENDATION TARGET PRICE % TO REACH TARGET COMMENTARY

Shaw and Partners

xx/xx/xxxx

3

xxxx

$xx.xx

xx.xx%

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Bell Potter

xx/xx/xxxx

3

xxxxxxxxx xx xxxx xxxx xxx

$xx.xx

xx.xx%

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Morgans

xx/xx/xxxx

3

xxxx

$xx.xx

xx.xx%

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Macquarie

22/11/2023

3

Neutral

$16.80

1.76%

TechnologyOne posted a solid result, Macquarie suggests, featuring strong operating momentum, but expectations were high. The performance has facilitated management bringing forward its FY26 annual recurring revenue target of $500m to FY25.

The SaaS transition is almost complete, with 30-50 customers remaining, hence the broker notes the key driver of recent ARR growth is abating.

Macquarie sees the key catalysts as M&A and further wins in the UK. But on current valuation, with execution risk elevated as the key driver of recent ARR growth subsides, the broker sees limited incremental upside.

Target rises to $16.80 from $15.50, Neutral retained.

FORECAST
Macquarie forecasts a full year FY24 dividend of 21.00 cents and EPS of 35.60 cents.
Macquarie forecasts a full year FY25 dividend of 24.80 cents and EPS of 40.80 cents.

UBS

xx/xx/xxxx

3

xxxxxxx

$xx.xx

xx.xx%

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Morgan Stanley

xx/xx/xxxx

3

xxxxx-xxxxxx

$xx.xx

xx.xx%

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Ord Minnett

xx/xx/xxxx

4

xxxxxxx

$xx.xx

xx.xx%

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TNE STOCK CHART