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

$4.46

01 Sep
2025

-0.110

OPEN

$4.55

-2.41%

HIGH

$4.57

1,120,094

LOW

$4.45

TARGET
$6.225 39.6% 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 8.9 xxx
Dividend Yield xxx N/A 8.6% xxx
Div Pay Ratio(%) xxx 141.2% 76.6% xxx

Dividend yield today if purchased 3 years ago: 3.93%

DIVIDEND YIELD CALCULATOR

Dividend Yield Today On Last Actual Payout :

 8.33

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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UBS

xx/xx/xxxx

1

xxx

$xx.xx

xx.xx%

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Morgans

22/08/2025

1

Buy

$6.05

35.65%

Morgans notes IPH Ltd reported FY25 revenue growth of 16.5% and earnings (EBITDA) up 6%, but a decline in margin of -290bps to 29.2%.

Adjusting for one-offs, revenue fell and earnings (EBITDA) declined -3.9%, with underlying earnings (EBITDA) missing expectations by -1%. Net profit after tax missed by -4%.

Australian filings fell -9% versus the market down -1.7%. IPH stated market share was stable for higher-value international filers. Canada was impacted by CIPO systems issues, while Asian filings rose.

Morgans makes minor changes to earnings (EBITDA) forecasts.

Target lowered to $6.05 from $6.30. No change to Buy rating.

FORECAST
Morgans forecasts a full year FY26 dividend of 37.00 cents and EPS of 48.00 cents.
Morgans forecasts a full year FY27 dividend of 37.00 cents and EPS of 51.00 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

Petra Capital

xx/xx/xxxx

1

xxx

$xx.xx

xx.xx%

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Canaccord Genuity

25/08/2025

3

Downgrade to Hold from Buy

$4.95

10.99%

Canaccord Genuity notes IPH Ltd's FY25 underlying group EBITDA was in line with its forecast but a modest miss to consensus. Full-year dividend met expectations.

However, the outlook is not so positive with ongoing Australia/NZ patent filing share decline falling below 30% in FY25 and US filings remain weak.

The broker reckons competitive pressures are rising across Australia/NZ and Asia. FY26 EBITDA estimates trimmed by -5% to $216.9m and EPS forecast lowered by -6%.

Rating downgraded to Hold from Buy. Target trimmed to $4.95 from $5.75.

FORECAST
Canaccord Genuity forecasts a full year FY26 dividend of 37.00 cents and EPS of 48.00 cents.
Canaccord Genuity forecasts a full year FY27 dividend of 40.00 cents and EPS of 48.00 cents.

Jarden

xx/xx/xxxx

2

xxxxxxxxxx

$xx.xx

xx.xx%

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IPH STOCK CHART

FNArena News on IPH

1
In Case You Missed It – BC Extra Upgrades & Downgrades – 29-08-25

Aug 29 2025 - Weekly Reports
2
Australian Broker Call *Extra* Edition – Aug 27, 2025

Aug 27 2025 - Daily Market Reports
3
Australian Broker Call *Extra* Edition – Aug 25, 2025

Aug 25 2025 - Daily Market Reports
4
FNArena Corporate Results Monitor – 22-08-2025

Aug 22 2025 - Australia
5
Australian Broker Call *Extra* Edition – Aug 12, 2025

Aug 12 2025 - Daily Market Reports

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