Market Cap
AU$1.4b
Last Updated
2021/01/22 07:06 UTC
Data Sources
Company Financials +
Executive Summary
IPH Limited, together with its subsidiaries, provides intellectual property (IP) services and products worldwide. More Details
Rewards
Risk Analysis
Snowflake Analysis
Adequate balance sheet with acceptable track record.
Share Price & News
How has IPH's share price performed over time and what events caused price changes?
Latest Share Price and Events
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.
Market Performance
7 Day Return
7.0%
IPH
5.0%
AU Professional Services
2.0%
AU Market
1 Year Return
-32.0%
IPH
-2.5%
AU Professional Services
-0.4%
AU Market
Return vs Industry: IPH underperformed the Australian Professional Services industry which returned -2.5% over the past year.
Return vs Market: IPH underperformed the Australian Market which returned -0.4% over the past year.
Shareholder returns
| IPH | Industry | Market | |
|---|---|---|---|
| 7 Day | 7.0% | 5.0% | 2.0% |
| 30 Day | -1.6% | 7.1% | 4.4% |
| 90 Day | -10.3% | 8.5% | 12.1% |
| 1 Year | -29.7%-32.0% | 0.1%-2.5% | 3.0%-0.4% |
| 3 Year | 28.5%14.0% | 21.6%9.4% | 27.3%11.6% |
| 5 Year | -13.5%-29.3% | 60.7%33.6% | 70.2%35.9% |
Long-Term Price Volatility Vs. Market
How volatile is IPH's share price compared to the market and industry in the last 5 years?
Simply Wall St News
6 hours ago | Simply Wall St
How Is IPH's (ASX:IPH) CEO Compensated?2 weeks ago | Simply Wall St
What Kind Of Shareholders Hold The Majority In IPH Limited's (ASX:IPH) Shares?4 weeks ago | Simply Wall St
Is There An Opportunity With IPH Limited's (ASX:IPH) 26% Undervaluation?Valuation
Is IPH undervalued compared to its fair value and its price relative to the market?
27.1%
Undervalued compared to fair value
Share Price vs. Fair Value
Below Fair Value: IPH (A$6.27) is trading below our estimate of fair value (A$8.6)
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 (24.3x) compared to the AU Professional Services industry average (21x).
PE vs Market: IPH is poor value based on its PE Ratio (24.3x) compared to the Australian market (23.2x).
Price to Earnings Growth Ratio
PEG Ratio: IPH is poor value based on its PEG Ratio (2.1x)
Price to Book Ratio
PB vs Industry: IPH's PB Ratio (3.2x) is in line with the AU Professional Services industry average.
Next Steps
Future Growth
How is IPH forecast to perform in the next 1 to 3 years based on estimates from 5 analysts?
11.5%
Forecasted annual earnings growth
Earnings and Revenue Growth Forecasts
Analyst Future Growth Forecasts
Earnings vs Savings Rate: IPH's forecast earnings growth (11.5% per year) is above the savings rate (2%).
Earnings vs Market: IPH's earnings (11.5% per year) are forecast to grow slower than the Australian market (18.3% per year).
High Growth Earnings: IPH's earnings are forecast to grow, but not significantly.
Revenue vs Market: IPH's revenue (3.8% per year) is forecast to grow slower than the Australian market (5.2% per year).
High Growth Revenue: IPH's revenue (3.8% 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 (21.8%)
Next Steps
Past Performance
How has IPH performed over the past 5 years?
10.2%
Historical annual earnings growth
Earnings and Revenue History
Quality Earnings: IPH has high quality earnings.
Growing Profit Margin: IPH's current net profit margins (15%) are lower than last year (21%).
Past Earnings Growth Analysis
Earnings Trend: IPH's earnings have grown by 10.2% per year over the past 5 years.
Accelerating Growth: IPH's earnings growth over the past year (3.1%) is below its 5-year average (10.2% per year).
Earnings vs Industry: IPH earnings growth over the past year (3.1%) exceeded the Professional Services industry -5.6%.
Return on Equity
High ROE: IPH's Return on Equity (13%) is considered low.
Next Steps
Financial Health
How is IPH's financial position?
Financial Position Analysis
Short Term Liabilities: IPH's short term assets (A$181.1M) exceed its short term liabilities (A$60.2M).
Long Term Liabilities: IPH's short term assets (A$181.1M) do not cover its long term liabilities (A$256.2M).
Debt to Equity History and Analysis
Debt Level: IPH's debt to equity ratio (36%) is considered satisfactory.
Reducing Debt: IPH's debt to equity ratio has increased from 18% to 36% over the past 5 years.
Debt Coverage: IPH's debt is well covered by operating cash flow (59%).
Interest Coverage: IPH's interest payments on its debt are well covered by EBIT (13.9x coverage).
Balance Sheet
Next Steps
Dividend
What is IPH current dividend yield, its reliability and sustainability?
4.78%
Current Dividend Yield
Dividend Yield vs Market
Notable Dividend: IPH's dividend (4.78%) is higher than the bottom 25% of dividend payers in the Australian market (2.06%).
High Dividend: IPH's dividend (4.78%) is low compared to the top 25% of dividend payers in the Australian market (5%).
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 6 years.
Current Payout to Shareholders
Dividend Coverage: With its high payout ratio (110.3%), 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 (79.4% payout ratio).
Next Steps
Management
How experienced are the management team and are they aligned to shareholders interests?
4.8yrs
Average management tenure
CEO
Andrew Blattman
3.17yrs
Tenure
AU$2,447,599
Compensation
Dr. Andrew Blattman serves as Managing Director of IPH Limited and has been its Chief Executive Officer and Director since November 20, 2017. Dr. Blattman serves as the Chief Executive Officer of Spruson &...
CEO Compensation Analysis
Compensation vs Market: Andrew's total compensation ($USD1.90M) is above average for companies of similar size in the Australian market ($USD937.77K).
Compensation vs Earnings: Andrew's compensation has increased by more than 20% in the past year.
Leadership Team
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| CEO, MD & Director | 3.17yrs | AU$2.45m | 0.054% A$ 750.2k | |
| Chief Financial Officer | 4.42yrs | AU$971.37k | 0.00019% A$ 2.6k | |
| Group General Counsel & Company Secretary | 4.75yrs | no data | no data | |
| Head of IT & Systems | 6.33yrs | no data | no data | |
| Managing Director of Capital Markets Communications | no data | no data | no data | |
| Principal | no data | no data | no data | |
| Principal | 19yrs | no data | no data | |
| Principal | no data | no data | no data | |
| Principal | no data | no data | no data |
4.8yrs
Average Tenure
Experienced Management: IPH's management team is considered experienced (4.8 years average tenure).
Board Members
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| CEO, MD & Director | 3.17yrs | AU$2.45m | 0.054% A$ 750.2k | |
| Independent Non-Executive Chairman | 6.33yrs | AU$330.00k | 0.024% A$ 330.3k | |
| Independent Non-Executive Director | 6.33yrs | AU$165.00k | 0.055% A$ 755.3k | |
| Independent Non-Executive Director | 1.75yrs | AU$165.00k | no data | |
| Independent Non-Executive Director | 6.33yrs | AU$165.00k | 0.034% A$ 473.5k |
6.3yrs
Average Tenure
63yo
Average Age
Experienced Board: IPH's board of directors are considered experienced (6.3 years average tenure).
Ownership
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
Ownership Breakdown
Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.
Top Shareholders
Company Information
IPH Limited's company bio, employee growth, exchange listings and data sources
Key Information
- Name: IPH Limited
- Ticker: IPH
- Exchange: ASX
- Founded: 1887
- Industry: Research and Consulting Services
- Sector: Commercial Services
- Market Cap: AU$1.380b
- Shares outstanding: 216.24m
- Website: https://www.iphltd.com.au
Number of Employees
Location
- IPH Limited
- Tower 2
- Level 24
- Sydney
- New South Wales
- 2000
- Australia
Listings
| Ticker | Exchange | Primary Security | Security Type | Country | Currency | Listed on |
|---|---|---|---|---|---|---|
| IPHN | CHIA (Chi-X Australia) | NPV DFD 15/08/19 (EX-XENITH | AU | AUD | No data | |
| IPH | ASX (Australian Securities Exchange) | Yes | Ordinary Shares | AU | AUD | Nov 2014 |
| IPH | CHIA (Chi-X Australia) | Yes | Ordinary Shares | AU | AUD | Nov 2014 |
| 1IP | DB (Deutsche Boerse AG) | Yes | Ordinary Shares | DE | EUR | Nov 2014 |
Biography
IPH Limited, together with its subsidiaries, provides intellectual property (IP) services and products worldwide. The company operates in three segments: Intellectual Property Services Australia & New Zeal...
Company Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2021/01/22 07:06 |
| End of Day Share Price | 2021/01/22 00:00 |
| Earnings | 2020/06/30 |
| Annual Earnings | 2020/06/30 |
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.