IPH Limited, together with its subsidiaries, provides intellectual property (IP) services and products worldwide.
Price History & Performance
|Historical stock prices|
|Current Share Price||AU$8.99|
|52 Week High||AU$5.77|
|52 Week Low||AU$9.50|
|1 Month Change||-2.07%|
|3 Month Change||10.04%|
|1 Year Change||28.61%|
|3 Year Change||71.57%|
|5 Year Change||60.25%|
|Change since IPO||190.00%|
Recent News & Updates
These 4 Measures Indicate That IPH (ASX:IPH) Is Using Debt Reasonably Well
Legendary fund manager Li Lu (who Charlie Munger backed) once said, 'The biggest investment risk is not the volatility...
IPH (ASX:IPH) Is Paying Out A Larger Dividend Than Last Year
IPH Limited ( ASX:IPH ) has announced that it will be increasing its dividend on the 17th of September to AU$0.15. This...
IPH (ASX:IPH) Seems To Use Debt Quite Sensibly
Howard Marks put it nicely when he said that, rather than worrying about share price volatility, 'The possibility of...
|IPH||AU Professional Services||AU Market|
Return vs Industry: IPH underperformed the Australian Professional Services industry which returned 37% over the past year.
Return vs Market: IPH exceeded the Australian Market which returned 21.1% over the past year.
Stable Share Price: IPH is less volatile than 75% of Australian stocks over the past 3 months, typically moving +/- 3% a week.
Volatility Over Time: IPH's weekly volatility (3%) has been stable over the past year.
About the Company
IPH Limited, together with its subsidiaries, provides intellectual property (IP) services and products worldwide. The company operates through three segments: Intellectual Property Services Australia & New Zealand, Intellectual Property Services Asia, and Adjacent Businesses. It offers IP services related to the provision of filing, prosecution, enforcement, and management of patents, designs, trademarks, and other IP; and develops autonomous timekeeping software under the subscription license model.
IPH Fundamentals Summary
|IPH fundamental statistics|
Is IPH overvalued?See Fair Value and valuation analysis
Earnings & Revenue
|IPH income statement (TTM)|
|Cost of Revenue||AU$116.40m|
Last Reported Earnings
Jun 30, 2021
Next Earnings Date
|Earnings per share (EPS)||0.25|
|Net Profit Margin||14.90%|
How did IPH perform over the long term?See historical performance and comparison
3.3%Current Dividend Yield
Is IPH undervalued compared to its fair value and its price relative to the market?
Undervalued compared to fair value
Share Price vs. Fair Value
Below Fair Value: IPH (A$8.96) is trading below our estimate of fair value (A$12.02)
Significantly Below Fair Value: IPH is trading below fair value by more than 20%.
Price To Earnings Ratio
PE vs Industry: IPH is poor value based on its PE Ratio (36.5x) compared to the Australian Professional Services industry average (22.1x).
PE vs Market: IPH is poor value based on its PE Ratio (36.5x) compared to the Australian market (19.7x).
Price to Earnings Growth Ratio
PEG Ratio: IPH is poor value based on its PEG Ratio (2.8x)
Price to Book Ratio
PB vs Industry: IPH is overvalued based on its PB Ratio (4.6x) compared to the AU Professional Services industry average (3.6x).
How is IPH forecast to perform in the next 1 to 3 years based on estimates from 6 analysts?
Forecasted annual earnings growth
Earnings and Revenue Growth Forecasts
Analyst Future Growth Forecasts
Earnings vs Savings Rate: IPH's forecast earnings growth (12.9% per year) is above the savings rate (1.9%).
Earnings vs Market: IPH's earnings (12.9% per year) are forecast to grow faster than the Australian market (11.6% per year).
High Growth Earnings: IPH's earnings are forecast to grow, but not significantly.
Revenue vs Market: IPH's revenue (4.1% per year) is forecast to grow slower than the Australian market (5.4% per year).
High Growth Revenue: IPH's revenue (4.1% per year) is forecast to grow slower than 20% per year.
Earnings per Share Growth Forecasts
Future Return on Equity
Future ROE: IPH's Return on Equity is forecast to be high in 3 years time (20.7%)
How has IPH performed over the past 5 years?
Historical annual earnings growth
Earnings and Revenue History
Quality Earnings: IPH has high quality earnings.
Growing Profit Margin: IPH's current net profit margins (14.9%) are lower than last year (15%).
Past Earnings Growth Analysis
Earnings Trend: IPH's earnings have grown by 7.9% per year over the past 5 years.
Accelerating Growth: IPH's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.
Earnings vs Industry: IPH had negative earnings growth (-2.1%) over the past year, making it difficult to compare to the Professional Services industry average (9.3%).
Return on Equity
High ROE: IPH's Return on Equity (12.6%) is considered low.
How is IPH's financial position?
Financial Position Analysis
Short Term Liabilities: IPH's short term assets (A$164.9M) exceed its short term liabilities (A$60.7M).
Long Term Liabilities: IPH's short term assets (A$164.9M) do not cover its long term liabilities (A$187.2M).
Debt to Equity History and Analysis
Debt Level: IPH's debt to equity ratio (27.4%) is considered satisfactory.
Reducing Debt: IPH's debt to equity ratio has increased from 0.09% to 27.4% over the past 5 years.
Debt Coverage: IPH's debt is well covered by operating cash flow (79.3%).
Interest Coverage: IPH's interest payments on its debt are well covered by EBIT (17.4x coverage).
What is IPH current dividend yield, its reliability and sustainability?
Current Dividend Yield
Dividend Yield vs Market
Notable Dividend: IPH's dividend (3.29%) is higher than the bottom 25% of dividend payers in the Australian market (2.29%).
High Dividend: IPH's dividend (3.29%) is low compared to the top 25% of dividend payers in the Australian market (5.31%).
Stability and Growth of Payments
Stable Dividend: Whilst dividend payments have been stable, IPH has been paying a dividend for less than 10 years.
Growing Dividend: IPH's dividend payments have increased, but the company has only paid a dividend for 7 years.
Current Payout to Shareholders
Dividend Coverage: With its high payout ratio (118.9%), IPH's dividend payments are not well covered by earnings.
Future Payout to Shareholders
Future Dividend Coverage: IPH's dividends in 3 years are forecast to be covered by earnings (85.1% payout ratio).
How experienced are the management team and are they aligned to shareholders interests?
Average management tenure
Dr. Andrew Blattman, BScAgr (Hons 1), PhD, GraDipIP, serves as Managing Director, Chief Executive Officer and Director of IPH Limited since November 20, 2017. Dr. Blattman serves as the Chief Executive Off...
CEO Compensation Analysis
Compensation vs Market: Andrew's total compensation ($USD1.83M) is about average for companies of similar size in the Australian market ($USD1.42M).
Compensation vs Earnings: Andrew's compensation has been consistent with company performance over the past year.
Experienced Management: IPH's management team is seasoned and experienced (5.5 years average tenure).
Experienced Board: IPH's board of directors are considered experienced (7.1 years average tenure).
Who are the major shareholders and have insiders been buying or selling?
Insider Trading Volume
Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.
Recent Insider Transactions
Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.
IPH Limited's employee growth, exchange listings and data sources
- Name: IPH Limited
- Ticker: IPH
- Exchange: ASX
- Founded: 1887
- Industry: Research and Consulting Services
- Sector: Commercial Services
- Market Cap: AU$1.958b
- Shares outstanding: 218.49m
- Website: https://www.iphltd.com.au
Number of Employees
- IPH Limited
- Tower 2
- Level 24
- New South Wales
Company Analysis and Financial Data Status
|Data||Last Updated (UTC time)|
|Company Analysis||2021/10/22 07:05|
|End of Day Share Price||2021/10/22 00:00|
Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.