READYTECH HOLDINGS LIMITED (RDY)
Share Price Analysis and Chart

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RDY - READYTECH HOLDINGS LIMITED

FNArena Sector : Software & Services

Year End: June

GICS Industry Group : Software & Services

Debt/EBITDA: 1.27

Index: ALL-ORDS

LAST PRICE	CHANGE +/-	CHANGE %	VOLUME
$2.60 25 Mar 2025	0.020 OPEN $2.60	0.78% HIGH $2.61	63,285 LOW $2.50

TARGET

$3.713

42.8% upside

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360 . AHI . ALC . AMX . ATA . BMT . COS . DOC . EVS . GTK . KYP . NET . NXL . QOR . SKO . UBN . VGL . XF1 . YOJ . Z2U .

FNARENA'S MARKET CONSENSUS FORECASTS

Title	FY23 Actual	FY24 Actual	FY25 Forecast	FY26 Forecast
EPS (cps)	xxx	4.7	4.5	xxx
DPS (cps)	xxx	0.0	0.4	xxx
EPS Growth	xxx	6.4%	- 4.5%	xxx
DPS Growth	xxx	N/A	N/A	xxx
PE Ratio	xxx	N/A	58.4	xxx
Dividend Yield	xxx	N/A	0.1%	xxx
Div Pay Ratio(%)	xxx	N/A	8.4%	xxx

Dividend yield today if purchased 3 years ago: 0.00%

DIVIDEND YIELD CALCULATOR

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

HISTORICAL DATA ARE ALL IN AUD

Copyright © 2025 FactSet UK Limited. All rights reserved

Title	2019	2020	2021	2022	2023	2024
EPS Basic	xxx	xxx	xxx	xxx	xxx	4.7
DPS All	xxx	xxx	xxx	xxx	xxx	0.0
Sales/Revenue	xxx	xxx	xxx	xxx	xxx	113.8 M
Book Value Per Share	xxx	xxx	xxx	xxx	xxx	126.2
Net Operating Cash Flow	xxx	xxx	xxx	xxx	xxx	31.6 M
Net Profit Margin	xxx	xxx	xxx	xxx	xxx	4.80 %

EPS Basic

Negative
Growth
Slowing

DPS All

Negative
Growth
Slowing

Sales/Revenue

Negative
Growth
Slowing

Book Value Per Share

Negative
Growth
Slowing

Net Operating Cash Flow

Negative
Growth
Slowing

Net Profit Margin

Negative
Growth
Slowing

Title	2019	2020	2021	2022	2023	2024
Return on Capital Employed	xxx	xxx	xxx	xxx	xxx	3.91 %
Return on Invested Capital	xxx	xxx	xxx	xxx	xxx	2.91 %
Return on Assets	xxx	xxx	xxx	xxx	xxx	2.10 %
Return on Equity	xxx	xxx	xxx	xxx	xxx	3.91 %
Return on Total Capital	xxx	xxx	xxx	xxx	xxx	7.48 %
Free Cash Flow ex dividends	xxx	xxx	xxx	xxx	xxx	31.2 M

Return on Capital Employed

Negative
Growth
Slowing

Return on Invested Capital

Negative
Growth
Slowing

Return on Assets

Negative
Growth
Slowing

Return on Equity

Negative
Growth
Slowing

Return on Total Capital

Negative
Growth
Slowing

Free Cash Flow ex dividends

Negative
Growth
Slowing

Title	2019	2020	2021	2022	2023	2024
Short-Term Debt	xxx	xxx	xxx	xxx	xxx	2 M
Long Term Debt	xxx	xxx	xxx	xxx	xxx	46 M
Total Debt	xxx	xxx	xxx	xxx	xxx	47 M
Goodwill - Gross	xxx	xxx	xxx	xxx	xxx	125 M
Cash & Equivalents - Generic	xxx	xxx	xxx	xxx	xxx	22 M
Price To Book Value	xxx	xxx	xxx	xxx	xxx	2.58

Short-Term Debt

Negative
Growth
Slowing

Long Term Debt

Negative
Growth
Slowing

Total Debt

Negative
Growth
Slowing

Goodwill - Gross

Negative
Growth
Slowing

Cash & Equivalents - Generic

Negative
Growth
Slowing

Price To Book Value

Negative
Growth
Slowing

Title	2019	2020	2021	2022	2023	2024
Capex	xxx	xxx	xxx	xxx	xxx	17.9 M
Capex % of Sales	xxx	xxx	xxx	xxx	xxx	15.71 %
Cost of Goods Sold	xxx	xxx	xxx	xxx	xxx	93 M
Selling, General & Admin. Exp & Other	xxx	xxx	xxx	xxx	xxx	7 M
Research & Development	xxx	xxx	xxx	xxx	xxx	-
Investments - Total	xxx	xxx	xxx	xxx	xxx	0 M

Capex

Negative
Growth
Slowing

Capex % of Sales

Negative
Growth
Slowing

Cost of Goods Sold

Negative
Growth
Slowing

Selling, General & Admin. Exp & Other

Negative
Growth
Slowing

Research & Development

Investments - Total

Negative
Growth
Slowing

Negative

Growth

Slowing

EXPERT VIEWS
EXTRA COVERAGE

EXPERT VIEWS

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Sentiment Indicator

0.8

No. Of Recommendations

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
Macquarie	xx/xx/xxxx	3	xxxxxxxxx xx xxxxxxx xxxx xxxxxxxxxx	$xx.xx	xx.xx%	Broker commentary and detailed analysis is available for Full Members Only. Login above or Get a Free Trial
Ord Minnett	27/02/2025	1	Buy	$3.75	44.23%	ReadyTech’s 1H performance was below Ord Minnett's expectations, attributed to project delays, particularly in the Government division. FY25 guidance for revenue, earnings (EBITDA) and medium-term targets were also downgraded. Despite these disappointments, the analysts observe the company’s pipeline is growing, with strong demand in its Enterprise division. The broker lowers the target to $3.75 from $3.97, but maintains a Buy rating, noting expected growth due to both a strong pipeline and cost-saving initiatives. Management expects to convert between 80-90% of its ‘high conviction’ pipeline in H2 (around $11.5m), of which circa 50% will be recurring, explains Ord Minnett. FORECAST Ord Minnett forecasts a full year FY25 dividend of 0.00 cents and EPS of minus -10.60 cents. Ord Minnett forecasts a full year FY26 dividend of 0.00 cents and EPS of 12.40 cents.
Shaw and Partners	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

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EXTRA COVERAGE

Display All Commentary

No. Of Recommendations

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
Wilsons	xx/xx/xxxx	1	xxxxxxxxxx	$xx.xx	xx.xx%	Broker commentary and detailed analysis is available for Full Members Only. Login above or Get a Free Trial
Jarden	05/03/2025	3	Downgrade to Neutral from Overweight	$3.05	17.31%	ReadyTech Holdings delivered underlying EBITDA of $18.2m in the first half, missing Jarden's estimates. Local government revenue was disappointing as product delays slowed down customer transition. The broker continues to envisage the company having an opportunity to take share in enterprise although the deals are "lumpy". More evidence of an acceleration in revenue is required before the broker becomes positive, although there is potential to re-rate if the significant pipeline can be executed. Rating is downgraded to Neutral from Overweight. Target is lowered to $3.05 from $3.54. FORECAST Jarden forecasts a full year FY25 EPS of 16.10 cents. Jarden forecasts a full year FY26 EPS of 17.30 cents.

BROKER

DATE

RATING

RECOMMENDATION

TARGET PRICE

% TO REACH TARGET

COMMENTARY

Wilsons

xx/xx/xxxx

xxxxxxxxxx

$xx.xx

xx.xx%

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

Jarden

05/03/2025

Downgrade to Neutral from Overweight

$3.05

17.31%

ReadyTech Holdings delivered underlying EBITDA of $18.2m in the first half, missing Jarden's estimates. Local government revenue was disappointing as product delays slowed down customer transition.

The broker continues to envisage the company having an opportunity to take share in enterprise although the deals are "lumpy".

More evidence of an acceleration in revenue is required before the broker becomes positive, although there is potential to re-rate if the significant pipeline can be executed.

Rating is downgraded to Neutral from Overweight. Target is lowered to $3.05 from $3.54.

FORECAST
Jarden forecasts a full year FY25 EPS of 16.10 cents.
Jarden forecasts a full year FY26 EPS of 17.30 cents.

Access Extra Coverage Research History >

RDY STOCK CHART

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Dividend Yield Today On Last Actual Payout :	0.00
Estimated Dividend Growth (Average Of Past Three Years)	%
Amount Invested	$
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READYTECH HOLDINGS LIMITED (RDY)
Share Price Analysis and Chart