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: 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

$3.54

26 Feb
2026

-0.030

OPEN

$3.53

-0.84%

HIGH

$3.62

1,390,124

LOW

$3.50

TARGET
$5.143 45.3% upside
Franking for last dividend paid out: 20%
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 47.6 xxx
DPS (cps) xxx 36.5 37.8 xxx
EPS Growth xxx 3.1% 84.3% xxx
DPS Growth xxx 4.3% 3.7% xxx
PE Ratio xxx N/A 7.5 xxx
Dividend Yield xxx N/A 10.6% xxx
Div Pay Ratio(%) xxx 141.2% 79.4% xxx

Dividend yield today if purchased 3 years ago: 4.51%

DIVIDEND YIELD CALCULATOR

Dividend Yield Today On Last Actual Payout :

 10.20

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: 28/08 - ex-div 19.50c (franking 30%)

HISTORICAL DATA ARE ALL IN AUD
Copyright © 2026 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

0.7

No. Of Recommendations

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

Morgans

xx/xx/xxxx

1

xxx

$xx.xx

xx.xx%

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Macquarie

20/02/2026

3

Downgrade to Neutral from Outperform

$3.74

5.65%

Macquarie has downgraded IPH to Neutral from Outperform following a 1H26 result with modest underlying growth and ongoing weakness in A&NZ, with like for like EBITDA up 3.2% y/y.

Canada was the standout, benefiting from the B&P contribution, cost synergies and easing CIPO disruption, while Asia delivered modest growth and A&NZ earnings declined on weaker US PCT filings.

The broker notes FX is now a headwind, with a 1c move in AUD/USD equating to around $2.8m of annualised service charge revenue, and sees limited recovery in US-driven volumes near term.

Macquarie lowers FY26, FY27 and FY28 EPS forecasts by -3%, -3% and -0.1%, respectively, reflecting softer organic growth and FX impacts, partly offset by the announced on market buyback of up to 10%. Target price is cut to $3.74 from $4.04, previously.

FORECAST
Macquarie forecasts a full year FY26 dividend of 38.50 cents and EPS of 46.90 cents.
Macquarie forecasts a full year FY27 dividend of 38.50 cents and EPS of 46.80 cents.

UBS

xx/xx/xxxx

1

xxx

$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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Jarden

11/09/2025

2

Overweight

$6.50

83.62%

Jarden cuts its target price on IPH Ltd post FY25 results to $6.50 from $8.45 while retaining an Overweight rating.

Results were disappointing with underlying EPS below the analyst's forecast by -6.7% and -3.6% lower than consensus. The company experienced earnings (EBITDA) misses in A&NZ and Asia, offset by lower corporate costs and operations in Canada.

Australian market share fell to 29.3% from 31.7%, due to IPH's large exposure to weak US PCT filings, down -7.9% versus the market decline of -1.9% on the prior year.

Jarden downgrades its EPS forecasts by -5% for FY26 and -10% for FY27 arising from softer A&NZ earnings expected, as well as assumed earnings declines in Asia and Canada.

FORECAST
Jarden forecasts a full year FY26 EPS of 48.90 cents.
Jarden forecasts a full year FY27 EPS of 49.70 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: Positives From February Results

Feb 26 2026 - Rudi's View
2
Weekly Ratings, Targets, Forecast Changes – 20-02-26

Feb 23 2026 - Weekly Reports
3
FNArena Corporate Results Monitor – 20-02-2026

Feb 20 2026 - Australia
4
Australian Broker Call *Extra* Edition – Nov 26, 2025

Nov 26 2025 - Daily Market Reports
5
Rudi’s View: Antipa, Computershare, IPH, Lynas, Macquarie, Rio Tinto & More

Nov 13 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