IPH LIMITED (IPH)
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IPH

IPH - IPH LIMITED

FNArena Sector : Legal
Year End: June
GICS Industry Group : Commercial & Professional Services
Debt/EBITDA: 2.41
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

$3.94

16 Sep
2025

-0.050

OPEN

$4.01

-1.25%

HIGH

$4.02

2,222,896

LOW

$3.94

TARGET
$6.225 58.0% upside
Franking for last dividend paid out: 30%
OTHER COMPANIES IN THE SAME SECTOR
SHJ .
FNARENA'S MARKET CONSENSUS FORECASTS
IPH: 1
Title FY24
Actual		 FY25
Actual		 FY26
Forecast		 FY27
Forecast
EPS (cps) xxx 25.9 49.4 xxx
DPS (cps) xxx 36.5 37.8 xxx
EPS Growth xxx 3.1% 91.0% xxx
DPS Growth xxx 4.3% 3.7% xxx
PE Ratio xxx N/A 7.9 xxx
Dividend Yield xxx N/A 9.7% xxx
Div Pay Ratio(%) xxx 141.2% 76.6% xxx

Dividend yield today if purchased 3 years ago: 3.98%

DIVIDEND YIELD CALCULATOR

Dividend Yield Today On Last Actual Payout :

 9.31

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 © 2025 FactSet UK Limited. All rights reserved
Title 202020212022202320242025
EPS Basic xxxxxxxxxxxxxxx25.9
DPS All xxxxxxxxxxxxxxx36.5
Sales/Revenue xxxxxxxxxxxxxxx706.2 M
Book Value Per Share xxxxxxxxxxxxxxx269.5
Net Operating Cash Flow xxxxxxxxxxxxxxx133.7 M
Net Profit Margin xxxxxxxxxxxxxxx9.74 %

EPS Basic

DPS All

Sales/Revenue

Book Value Per Share

Net Operating Cash Flow

Net Profit Margin

Title 202020212022202320242025
Return on Capital Employed xxxxxxxxxxxxxxx10.32 %
Return on Invested Capital xxxxxxxxxxxxxxx6.05 %
Return on Assets xxxxxxxxxxxxxxx5.17 %
Return on Equity xxxxxxxxxxxxxxx10.32 %
Return on Total Capital xxxxxxxxxxxxxxx10.67 %
Free Cash Flow ex dividends xxxxxxxxxxxxxxx34.3 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 202020212022202320242025
Short-Term Debt xxxxxxxxxxxxxxx12 M
Long Term Debt xxxxxxxxxxxxxxx458 M
Total Debt xxxxxxxxxxxxxxx470 M
Goodwill - Gross xxxxxxxxxxxxxxx644 M
Cash & Equivalents - Generic xxxxxxxxxxxxxxx59 M
Price To Book Value xxxxxxxxxxxxxxx1.70

Short-Term Debt

Long Term Debt

Total Debt

Goodwill - Gross

Cash & Equivalents - Generic

Price To Book Value

Title 202020212022202320242025
Capex xxxxxxxxxxxxxxx7.9 M
Capex % of Sales xxxxxxxxxxxxxxx1.12 %
Cost of Goods Sold xxxxxxxxxxxxxxx-
Selling, General & Admin. Exp & Other xxxxxxxxxxxxxxx512 M
Research & Development xxxxxxxxxxxxxxx-
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

1.0

No. Of Recommendations

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

Macquarie

xx/xx/xxxx

1

xxxxxxxxxx

$xx.xx

xx.xx%

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Morgans

xx/xx/xxxx

1

xxx

$xx.xx

xx.xx%

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UBS

22/08/2025

1

Buy

$6.30

59.90%

IPH Ltd delivered a softer second half of FY25, with earnings (EBITDA) coming in -3% shy of the UBS forecast and like-for-like revenue down in A&NZ and Asia  by -2% and -1%, respectively.

The broker's expectations of an Asian rebound and cost-out benefits disappointed, though guidance for savings of $8-10m in FY26 partly offset weaker revenues. The broker's profit forecasts are cut by between -4-7%, but buybacks limit the EPS impact.

In A&NZ, filing volumes fell -10% against market growth of 1%, with UBS noting weaker US PCT filings as a lead indicator. In Asia, strong filing growth has yet to flow into examination and renewal revenue, with the broker forecasting just 2% growth in FY26.

UBS lowers its target to $6.30 from $6.75 on reduced free cash flow forecasts but maintains a Buy rating, citing the -20% share price reaction to FY25 results.

FORECAST
UBS forecasts a full year FY26 dividend of 37.00 cents and EPS of 48.00 cents.
UBS forecasts a full year FY27 EPS of 50.00 cents.

Morgan Stanley

xx/xx/xxxx

1

xxxxxxxxxx

$xx.xx

xx.xx%

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EXTRA COVERAGE
Display All Commentary

No. Of Recommendations

3

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

Jarden

xx/xx/xxxx

2

xxxxxxxxxx

$xx.xx

xx.xx%

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Petra Capital

09/09/2025

1

Buy

$8.00

103.05%

Petra Capital sees no reason to change its forecasts for IPH Ltd based on the broker's analysis of recent patent filing applications, which provide a measure of market share and a window into forward workflow.

The broker highlights FY25 rolling 12-month filings fell -9.1% for IPH versus -0.8% for the market, mainly from weaker Patent Cooperation Treaty (PCT) volumes.

US PCT filings remain weak, down -6% year-to-date to May 2025, following declines in 2023 and 2024. Chinese applications rose 8.5% year-on-year, in line with the company's strategy to diversify its base.

Petra Capital sees external pressures persisting but points to strong execution on pricing, cost control, case transfers, and China exposure.

The broker retains a Buy rating with an unchanged $8.00 target price.

FORECAST
Petra Capital forecasts a full year FY26 dividend of 37.50 cents and EPS of 50.40 cents.
Petra Capital forecasts a full year FY27 dividend of 39.50 cents and EPS of 53.30 cents.

Canaccord Genuity

xx/xx/xxxx

3

xxxxxxxxx xx xxxx xxxx 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: US Equities, CSL, Macquarie Technology, Xero & More

Sep 11 2025 - Rudi's View
2
Australian Broker Call *Extra* Edition – Sep 11, 2025

Sep 11 2025 - Daily Market Reports
3
Rudi’s View: August Results; Standouts, Turnarounds, Failures & Misfits

Sep 10 2025 - Rudi's View
4
Australian Broker Call *Extra* Edition – Sep 09, 2025

Sep 09 2025 - Daily Market Reports
5
Rudi’s View: A Glass Half-Full Outlook

Sep 03 2025 - Rudi's View

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