OBJECTIVE CORPORATION LIMITED (OCL)
Share Price Analysis and Chart

Enter the company code or Name for stock analysis:

OCL

OCL - OBJECTIVE CORPORATION LIMITED

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

Objective Corporation develops information-management and process software for governments and regulated industries.

LAST PRICE CHANGE +/- CHANGE % VOLUME

$6.36

27 Aug
2026

-1.100

OPEN

$7.00

-14.75%

HIGH

$7.18

1,015,387

LOW

$5.76

TARGET
$12.867 102.3% upside
OTHER COMPANIES IN THE SAME SECTOR
APX . DTL . FLN . HSN . IRI . STG . STH . TNE .
FNARENA'S MARKET CONSENSUS FORECASTS
OCL: 1
Title FY25
Actual		 FY26
Actual		 FY27
Forecast		 FY28
Forecast
EPS (cps) xxx 38.9 33.6 xxx
DPS (cps) xxx 26.0 21.5 xxx
EPS Growth xxx 4.6% - 13.5% xxx
DPS Growth xxx 18.2% - 17.3% xxx
PE Ratio xxx N/A 20.2 xxx
Dividend Yield xxx N/A 3.2% xxx
Div Pay Ratio(%) xxx 66.9% 63.9% xxx

Dividend yield today if purchased 3 years ago: 2.08%

DIVIDEND YIELD CALCULATOR

Dividend Yield Today On Last Actual Payout :

 3.82

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: 06/03 - (franking ex-div 13.00c)

HISTORICAL DATA ARE ALL IN AUD
Copyright © 2026 FactSet UK Limited. All rights reserved
Title 202120222023202420252026
EPS Basic xxxxxxxxxxxxxxx38.9
DPS All xxxxxxxxxxxxxxx26.0
Sales/Revenue xxxxxxxxxxxxxxx131.6 M
Book Value Per Share xxxxxxxxxxxxxxx114.5
Net Operating Cash Flow xxxxxxxxxxxxxxx49.3 M
Net Profit Margin xxxxxxxxxxxxxxx28.25 %

EPS Basic

DPS All

Sales/Revenue

Book Value Per Share

Net Operating Cash Flow

Net Profit Margin

Title 202120222023202420252026
Return on Capital Employed xxxxxxxxxxxxxxx34.49 %
Return on Invested Capital xxxxxxxxxxxxxxx32.23 %
Return on Assets xxxxxxxxxxxxxxx18.80 %
Return on Equity xxxxxxxxxxxxxxx34.49 %
Return on Total Capital xxxxxxxxxxxxxxx35.44 %
Free Cash Flow ex dividends xxxxxxxxxxxxxxx23.9 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 202120222023202420252026
Short-Term Debt xxxxxxxxxxxxxxx3 M
Long Term Debt xxxxxxxxxxxxxxx7 M
Total Debt xxxxxxxxxxxxxxx10 M
Goodwill - Gross xxxxxxxxxxxxxxx41 M
Cash & Equivalents - Generic xxxxxxxxxxxxxxx93 M
Price To Book Value xxxxxxxxxxxxxxx9.00

Short-Term Debt

Long Term Debt

Total Debt

Goodwill - Gross

Cash & Equivalents - Generic

Price To Book Value

Title 202120222023202420252026
Capex xxxxxxxxxxxxxxx18.0 M
Capex % of Sales xxxxxxxxxxxxxxx13.68 %
Cost of Goods Sold xxxxxxxxxxxxxxx16 M
Selling, General & Admin. Exp & Other xxxxxxxxxxxxxxx73 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

0.7

No. Of Recommendations

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

Morgans

xx/xx/xxxx

1

xxx

$xx.xx

xx.xx%

Broker commentary and detailed analysis is available for Full Members Only.
Login above or Get a Free Trial

Morgan Stanley

03/07/2026

1

Overweight

$16.00

151.57%

Morgan Stanley considers the loss of the Department of Defence contract an isolated event and unrelated to product or competitive issues. There appears to be little risk to other public-sector contracts for Objective Corp.

While it drives near-term earnings downgrades, the broker asserts the de-rating is "overdone". Annual recurring revenue guidance of $120m is expected to be met and the company should start FY27 with a similar base to FY26.

As the stock was down -34% on July 1 and down -59% over the year to date, Morgan Stanley emphasises this is not a performance, competitive or AI-obsolescence issue.

The current opportunity to buy the stock appears compelling and the broker reiterates an Overweight rating. Target is reduced to $16.00 from $21.30.

FORECAST
Morgan Stanley forecasts a full year FY27 EPS of 30.90 cents.

UBS

xx/xx/xxxx

3

xxxxxxx

$xx.xx

xx.xx%

Broker commentary and detailed analysis is available for Full Members Only.
Login above or Get a Free Trial
Access Stockbroker Research History >
EXTRA COVERAGE
Display All Commentary

No. Of Recommendations

2

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

xx/xx/xxxx

1

xxx

$xx.xx

xx.xx%

Broker commentary and detailed analysis is available for Full Members Only.
Login above or Get a Free Trial

Shaw and Partners

30/08/2026

1

Buy

$9.50

49.37%

Shaw and Partners retains a Buy rating for Objective Corp with its target price decreased to $9.50 from $10.80 following an FY26 result featuring revenue of $131.6m and Cash EBITDA of $30.6m.

Commentary states the company delivered solid underlying growth despite the loss of the Defence contract and foreign exchange headwinds.

The analyst views FY27 as an earnings reset, with $40m Adjusted EBITDA guidance reflecting a lower opening annual recurring revenue base and modest incremental investment in domain-specific sales capacity.

Near-term revenue and cash flow forecasts are lowered to reflect revised ARR growth assumptions, driving the lower target price.

Following years of significant R&D investment, the portfolio is considered mature, shifting the strategic focus towards sales execution to re-accelerate growth and monetise the existing product suite.

FORECAST
Shaw and Partners forecasts a full year FY27 dividend of 26.00 cents and EPS of 26.00 cents.
Shaw and Partners forecasts a full year FY28 dividend of 26.00 cents and EPS of 29.50 cents.
Access Extra Coverage Research History >

OCL STOCK CHART

FNArena News on OCL

1
FNArena Corporate Results Monitor – 28-08-2026

Aug 28 2026 - Australia
2
Australian Broker Call *Extra* Edition – Jul 06, 2026

Jul 06 2026 - Daily Market Reports
3
Rudi’s View: Tech Is Back (Ahead Of Tax Loss Selling)

Jun 03 2026 - Rudi's View
4
Australian Broker Call *Extra* Edition – May 11, 2026

May 11 2026 - Daily Market Reports
5
Rudi’s View: Trump’s Circus & Technology’s Brave New World

Apr 09 2026 - Rudi's View

Latest IT & Support News

1
TechnologyOne’s AI Advantage

May 29 2026 - Australia
2
FY26 Gentrack’s Show-Me-The-Money Moment

Dec 01 2025 - Small Caps
3
Rudi’s View: Un-Bubbling The AI Bubble Talk

Nov 27 2025 - Rudi's View
4
Outlook Intact Post Tech1’s FY25 Punishment

Nov 24 2025 - Australia
5
Rudi’s View: Tech1 Delivers AI First

Oct 15 2025 - Rudi's View
6
Market Embraces Hansen’s Powercloud Surprise

Jul 16 2025 - Small Caps
7
ikeGPS Positioned For Multi-Decade Tailwinds

Jul 08 2025 - Small Caps
8
TechnologyOne: The ‘Beat’ Goes On

May 23 2025 - Australia
9
Technology One Shares Aiming For A Breakout

Apr 15 2025 - Technicals
10
Hansen’s Powercloud Ready To Perform

Apr 01 2025 - Small Caps