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Integrated Research

ASX:IRI
Snowflake Description

Flawless balance sheet with solid track record.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
IRI
ASX
A$516M
Market Cap
  1. Home
  2. AU
  3. Software
Company description

Integrated Research Limited designs, develops, implements, and sells systems and applications management computer software for business-critical computing, unified communication networks, and payment networks in the Americas, Europe, and the Asia Pacific. The last earnings update was 122 days ago. More info.


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IRI Share Price and Events
7 Day Returns
-1%
ASX:IRI
0.7%
AU Software
1.5%
AU Market
1 Year Returns
-9.9%
ASX:IRI
27%
AU Software
5.1%
AU Market
IRI Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Integrated Research (IRI) -1% 19.5% 24% -9.9% 37.6% 203%
AU Software 0.7% 4.8% 8.7% 27% 98.7% 110.6%
AU Market 1.5% 4% 5.5% 5.1% 24.8% 12%
1 Year Return vs Industry and Market
  • IRI underperformed the Software industry which returned 27% over the past year.
  • IRI underperformed the Market in Australia which returned 5.1% over the past year.
Price Volatility
IRI
Industry
5yr Volatility vs Market

Value

 Is Integrated Research undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of Integrated Research to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for Integrated Research.

ASX:IRI Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 2 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 8.8%
Perpetual Growth Rate 10-Year AU Government Bond Rate 2.3%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for ASX:IRI
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year AU Govt Bond Rate 2.3%
Equity Risk Premium S&P Global 6%
Software Unlevered Beta Simply Wall St/ S&P Global 1.14
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 1.136 (1 + (1- 30%) (0%))
1.091
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.09
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2.31% + (1.091 * 5.96%)
8.82%

Discounted Cash Flow Calculation for ASX:IRI using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Integrated Research is arrived at by discounting future cash flows to their present value using the 2 stage method. We try to start with analysts estimates of free cash flow, however if these are not available we use the most recent financial results. In the 1st stage we continue to grow the free cash flow over a 10 year period, with the growth rate trending towards the perpetual growth rate used in the 2nd stage. The 2nd stage assumes the company grows at a stable rate into perpetuity.

ASX:IRI DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (AUD, Millions) Source Present Value
Discounted (@ 8.82%)
2019 11.55 Est @ -0.12% 10.61
2020 11.62 Est @ 0.61% 9.81
2021 11.75 Est @ 1.12% 9.12
2022 11.92 Est @ 1.48% 8.50
2023 12.13 Est @ 1.73% 7.95
2024 12.36 Est @ 1.9% 7.45
2025 12.61 Est @ 2.03% 6.98
2026 12.88 Est @ 2.11% 6.55
2027 13.16 Est @ 2.17% 6.15
2028 13.45 Est @ 2.21% 5.78
Present value of next 10 years cash flows A$78.90
ASX:IRI DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2028 × (1 + g) ÷ (Discount Rate – g)
= A$13.45 × (1 + 2.31%) ÷ (8.82% – 2.31%)
A$211.55
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= A$211.55 ÷ (1 + 8.82%)10
A$90.89
ASX:IRI Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= A$78.90 + A$90.89
A$169.79
Equity Value per Share
(AUD)
= Total value / Shares Outstanding
= A$169.79 / 171.86
A$0.99
ASX:IRI Discount to Share Price
Calculation Result
Value per share (AUD) From above. A$0.99
Current discount Discount to share price of A$3.00
= -1 x (A$3.00 - A$0.99) / A$0.99
-203.7%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

  • The current share price of Integrated Research is above its future cash flow value.
Often investors are willing to pay a premium for a company that has a high dividend or the potential for future growth.
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Integrated Research's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Integrated Research's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
ASX:IRI PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-12-31) in AUD A$0.13
ASX:IRI Share Price ** ASX (2019-06-14) in AUD A$3
Australia Software Industry PE Ratio Median Figure of 19 Publicly-Listed Software Companies 36.72x
Australia Market PE Ratio Median Figure of 545 Publicly-Listed Companies 16.04x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Integrated Research.

ASX:IRI PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= ASX:IRI Share Price ÷ EPS (both in AUD)

= 3 ÷ 0.13

23.81x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Integrated Research is good value based on earnings compared to the AU Software industry average.
  • Integrated Research is overvalued based on earnings compared to the Australia market.
Price based on expected Growth
Does Integrated Research's expected growth come at a high price?
Raw Data
ASX:IRI PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 23.81x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 2 Analysts
6.6%per year
Australia Software Industry PEG Ratio Median Figure of 13 Publicly-Listed Software Companies 2.56x
Australia Market PEG Ratio Median Figure of 357 Publicly-Listed Companies 1.4x

*Line of best fit is calculated by linear regression .

ASX:IRI PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 23.81x ÷ 6.6%

3.6x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Integrated Research is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on Integrated Research's assets?
Raw Data
ASX:IRI PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-12-31) in AUD A$0.38
ASX:IRI Share Price * ASX (2019-06-14) in AUD A$3
Australia Software Industry PB Ratio Median Figure of 101 Publicly-Listed Software Companies 3.36x
Australia Market PB Ratio Median Figure of 1,687 Publicly-Listed Companies 1.65x
ASX:IRI PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= ASX:IRI Share Price ÷ Book Value per Share (both in AUD)

= 3 ÷ 0.38

7.91x

* Primary Listing of Integrated Research.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Integrated Research is overvalued based on assets compared to the AU Software industry average.
X
Value checks
We assess Integrated Research's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Software industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Software industry average (and greater than 0)? (1 check)
  5. Integrated Research has a total score of 1/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

Future Performance

 How is Integrated Research expected to perform in the next 1 to 3 years based on estimates from 2 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
6.6%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Integrated Research expected to grow at an attractive rate?
  • Integrated Research's earnings growth is expected to exceed the low risk savings rate of 2.3%.
Growth vs Market Checks
  • Integrated Research's earnings growth is positive but not above the Australia market average.
  • Integrated Research's revenue growth is expected to exceed the Australia market average.
Annual Growth Rates Comparison
Raw Data
ASX:IRI Future Growth Rates Data Sources
Data Point Source Value (per year)
ASX:IRI Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 2 Analysts 6.6%
ASX:IRI Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 2 Analysts 8%
Australia Software Industry Earnings Growth Rate Market Cap Weighted Average 31.1%
Australia Software Industry Revenue Growth Rate Market Cap Weighted Average 18.8%
Australia Market Earnings Growth Rate Market Cap Weighted Average 7.1%
Australia Market Revenue Growth Rate Market Cap Weighted Average 3.3%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
ASX:IRI Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (5 months ago) See Below
Future Estimates Average of up to 2 Analyst Estimates (S&P Global) See Below
All numbers in AUD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
ASX:IRI Future Estimates Data
Date (Data in AUD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2021-06-30 119 37 26 2
2020-06-30 110 31 23 2
2019-06-30 103 24 23 2
ASX:IRI Past Financials Data
Date (Data in AUD Millions) Revenue Cash Flow Net Income *
2018-12-31 96 23 22
2018-09-30 93 22 20
2018-06-30 91 21 19
2018-03-31 92 22 20
2017-12-31 94 23 20
2017-09-30 92 25 19
2017-06-30 91 26 19
2017-03-31 90 24 18
2016-12-31 88 22 18
2016-09-30 87 19 17
2016-06-30 85 16 16
2016-03-31 80 16 14

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Integrated Research's earnings are expected to grow by 6.6% yearly, however this is not considered high growth (20% yearly).
  • Integrated Research's revenue is expected to grow by 8% yearly, however this is not considered high growth (20% yearly).
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
ASX:IRI Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (5 months ago) See Below
Future Estimates Average of up to 2 Analyst Estimates (S&P Global) See Below

All data from Integrated Research Company Filings, last reported 5 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

ASX:IRI Future Estimates Data
Date (Data in AUD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2021-06-30 0.15 0.17 0.12 2.00
2020-06-30 0.14 0.15 0.12 2.00
2019-06-30 0.13 0.13 0.13 2.00
ASX:IRI Past Financials Data
Date (Data in AUD Millions) EPS *
2018-12-31 0.13
2018-09-30 0.12
2018-06-30 0.11
2018-03-31 0.11
2017-12-31 0.12
2017-09-30 0.11
2017-06-30 0.11
2017-03-31 0.11
2016-12-31 0.10
2016-09-30 0.10
2016-06-30 0.09
2016-03-31 0.09

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Integrated Research is expected to efficiently use shareholders’ funds in the future (Return on Equity greater than 20%).
X
Future performance checks
We assess Integrated Research's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the Australia market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Australia market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Integrated Research has a total score of 3/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

Past Performance

  How has Integrated Research performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Integrated Research's growth in the last year to its industry (Software).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Integrated Research's year on year earnings growth rate has been positive over the past 5 years.
  • Integrated Research's 1-year earnings growth is less than its 5-year average (7.9% vs 16.2%)
  • Integrated Research's earnings growth has exceeded the AU Software industry average in the past year (7.9% vs 7.7%).
Earnings and Revenue History
Integrated Research's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Integrated Research Company Filings, last reported 5 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

ASX:IRI Past Revenue, Cash Flow and Net Income Data
Date (Data in AUD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2018-12-31 95.81 21.63 54.20 16.57
2018-09-30 93.49 20.41 52.88 15.95
2018-06-30 91.18 19.18 51.55 15.34
2018-03-31 92.35 19.62 50.23 15.01
2017-12-31 93.53 20.06 48.91 14.68
2017-09-30 92.35 19.29 49.30 14.77
2017-06-30 91.17 18.52 49.69 14.86
2017-03-31 89.83 18.04 51.05 14.45
2016-12-31 88.50 17.55 52.41 14.05
2016-09-30 86.52 16.79 51.68 13.81
2016-06-30 84.53 16.03 50.95 13.58
2016-03-31 80.35 14.47 48.66 13.45
2015-12-31 76.16 12.91 46.38 13.32
2015-09-30 73.22 13.58 43.38 12.88
2015-06-30 70.28 14.25 40.38 12.43
2015-03-31 65.41 12.88 37.55 12.06
2014-12-31 60.53 11.52 34.73 11.69
2014-09-30 56.89 10.00 33.13 11.38
2014-06-30 53.24 8.49 31.54 11.07
2014-03-31 53.42 9.67 30.52 11.05
2013-12-31 53.60 10.85 29.50 11.03
2013-09-30 51.23 9.96 28.53 10.90
2013-06-30 48.86 9.08 27.56 10.78
2013-03-31 48.41 8.65 27.49 10.71
2012-12-31 47.97 8.23 27.42 10.64
2012-09-30 48.29 8.63 27.35 10.39
2012-06-30 48.61 9.04 27.28 10.13

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • Integrated Research has efficiently used shareholders’ funds last year (Return on Equity greater than 20%).
  • Integrated Research used its assets more efficiently than the AU Software industry average last year based on Return on Assets.
  • Integrated Research has improved its use of capital last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Integrated Research's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Software industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Integrated Research has a total score of 5/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

Health

 How is Integrated Research's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up Integrated Research's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Integrated Research is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Integrated Research's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Integrated Research's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • Low level of unsold assets.
  • Integrated Research has no debt, it does not need to be covered by short term assets.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Integrated Research Company Filings, last reported 5 months ago.

ASX:IRI Past Debt and Equity Data
Date (Data in AUD Millions) Total Equity Total Debt Cash & Short Term Investments
2018-12-31 65.15 0.00 9.60
2018-09-30 65.15 0.00 9.60
2018-06-30 57.84 0.00 11.24
2018-03-31 57.84 0.00 11.24
2017-12-31 52.10 0.00 9.61
2017-09-30 52.10 0.00 9.61
2017-06-30 48.52 0.00 14.11
2017-03-31 48.52 0.00 14.11
2016-12-31 43.15 0.00 10.47
2016-09-30 43.15 0.00 10.47
2016-06-30 41.05 0.00 8.54
2016-03-31 41.05 0.00 8.54
2015-12-31 36.14 0.00 7.97
2015-09-30 36.14 0.00 7.97
2015-06-30 36.13 0.00 15.32
2015-03-31 36.13 0.00 15.32
2014-12-31 34.20 0.00 14.33
2014-09-30 34.20 0.00 14.33
2014-06-30 30.75 0.00 13.30
2014-03-31 30.75 0.00 13.30
2013-12-31 30.18 0.00 16.03
2013-09-30 30.18 0.00 16.03
2013-06-30 30.01 0.00 14.83
2013-03-31 30.01 0.00 14.83
2012-12-31 27.40 0.00 11.15
2012-09-30 27.40 0.00 11.15
2012-06-30 29.23 0.00 12.04
  • Integrated Research has no debt.
  • Integrated Research has not taken on any debt in the past 5 years.
  • Integrated Research has no debt, it does not need to be covered by operating cash flow.
  • Integrated Research has no debt, therefore coverage of interest payments is not a concern.
X
Financial health checks
We assess Integrated Research's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Integrated Research has a total score of 6/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

Dividends

 What is Integrated Research's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
2.33%
Current annual income from Integrated Research dividends. Estimated to be 2.59% next year.
If you bought A$2,000 of Integrated Research shares you are expected to receive A$47 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Integrated Research's pays a lower dividend yield than the bottom 25% of dividend payers in Australia (2.68%).
  • Integrated Research's dividend is below the markets top 25% of dividend payers in Australia (5.71%).
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
ASX:IRI Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 2 Analyst Estimates (S&P Global) See Below
Australia Software Industry Average Dividend Yield Market Cap Weighted Average of 13 Stocks 1.2%
Australia Market Average Dividend Yield Market Cap Weighted Average of 415 Stocks 4.1%
Australia Minimum Threshold Dividend Yield 10th Percentile 1.6%
Australia Bottom 25% Dividend Yield 25th Percentile 2.7%
Australia Top 25% Dividend Yield 75th Percentile 5.7%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

ASX:IRI Future Dividends Estimate Data
Date (Data in A$) Dividend per Share (annual) Avg. No. Analysts
2021-06-30 0.09 2.00
2020-06-30 0.08 2.00
2019-06-30 0.07 2.00
ASX:IRI Past Annualized Dividends Data
Date (Data in A$) Dividend per share (annual) Avg. Yield (%)
2019-02-13 0.070 2.733
2018-08-15 0.065 2.950
2018-02-14 0.065 1.926
2017-08-17 0.065 1.769
2017-02-16 0.065 2.176
2016-08-22 0.065 2.625
2016-08-18 0.065 2.807
2015-08-20 0.080 3.666
2014-08-20 0.050 3.800
2014-08-15 0.050 4.849
2013-08-19 0.050 4.785
2013-08-15 0.050 4.597
2013-02-25 0.050 4.620
2012-08-16 0.050 4.313
2012-02-16 0.045 6.549
2011-08-19 0.040 8.655
2010-08-12 0.025 7.652
2009-09-24 0.050 11.421
2009-08-13 0.050 12.788

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Dividends per share have been volatile in the past 10 years (annual drop of over 20%).
  • Dividends per share have increased over the past 10 years.
Current Payout to shareholders
What portion of Integrated Research's earnings are paid to the shareholders as a dividend.
  • Dividends paid are covered by earnings (1.8x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be covered by earnings (1.8x coverage).
X
Income/ dividend checks
We assess Integrated Research's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 1.6%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Integrated Research afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Integrated Research has a total score of 3/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

Management

 What is the CEO of Integrated Research's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Peter Adams
COMPENSATION A$427,314
TENURE AS CEO 0.3 years
CEO Bio

Mr. Peter Adams, B.Com, CA, has been Interim Chief Executive Officer of Integrated Research Limited since February 18, 2019. He has been the Chief Financial Officer of Integrated Research Limited since March 31, 2008. Mr. Adams joined IR in March 2008. Mr. Adams is responsible for overseeing Integrated Research's finance and administration, including regulatory compliance and investor relations. He served as the Chief Financial Officer of Infomedia Limited. He has over 25 years experience and served a number of senior accounting and finance roles, including six years with Renison Goldfields and two years with construction giant, Transfield Pty Ltd. Mr. Adams career began with Arthur Andersen, where he was responsible for managing large audit clients. He is a Qualified Chartered Accountant.

CEO Compensation
  • Peter's compensation has been consistent with company performance over the past year, both up more than 20%.
  • Peter's remuneration is lower than average for companies of similar size in Australia.
Management Team Tenure

Average tenure of the Integrated Research management team in years:

0.7
Average Tenure
  • The average tenure for the Integrated Research management team is less than 2 years, this suggests a new team.
Management Team

Peter Adams

TITLE
Interim CEO & CFO
COMPENSATION
A$427K
TENURE
0.3 yrs

Kevin Ryder

TITLE
Chief Marketing Officer of Global Marketing
COMPENSATION
A$396K
TENURE
5.7 yrs

Jason Barker

TITLE
Senior Vice President of Asia Pacific
COMPENSATION
A$638K
TENURE
4.7 yrs

Steve Killelea

TITLE
COMPENSATION
A$150K
AGE
69
TENURE
0.6 yrs

Michael Tomkins

TITLE
Head of Research & Development

Vanessa Walker

TITLE
General Manager of People & Culture
TENURE
1.8 yrs

Greg Clancy

TITLE
Chief Product Officer
TENURE
0.7 yrs

Matt Glasner

TITLE
Chief Commercial Officer
TENURE
0.4 yrs

Frank Hoekstra

TITLE
Head of Europe
TENURE
0.1 yrs

David Purdue

TITLE
Company Secretary
COMPENSATION
A$92K
TENURE
6.9 yrs
Board of Directors Tenure

Average tenure and age of the Integrated Research board of directors in years:

4.8
Average Tenure
60
Average Age
  • The tenure for the Integrated Research board of directors is about average.
Board of Directors

Paul Brandling

TITLE
Chairman
COMPENSATION
A$83K
AGE
60
TENURE
0.6 yrs

Garry Dinnie

TITLE
Independent Non-Executive Director
COMPENSATION
A$75K
AGE
66
TENURE
6.3 yrs

Peter Lloyd

TITLE
Non-Executive Director
COMPENSATION
A$75K
AGE
64
TENURE
8.9 yrs

Nick Abrahams

TITLE
Non-Executive Director
COMPENSATION
A$75K
AGE
52
TENURE
4.8 yrs

Anne Myers

TITLE
Non-Executive Independent Director
AGE
60
TENURE
0.9 yrs
Who owns this company?
Recent Insider Trading
  • More shares have been bought than sold by Integrated Research insiders in the past 3 months, but not in substantial volumes.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (A$) Value (A$)
18. Mar 19 Buy Garry Dinnie Individual 18. Mar 19 18. Mar 19 7,000 A$2.42 A$16,940
27. Feb 19 Buy Grayrock Group Pty Limited Company 28. Feb 19 28. Feb 19 25,000 A$2.38 A$59,500
27. Feb 19 Buy John Abrahams Individual 28. Feb 19 28. Feb 19 8,404 A$2.38 A$20,002
25. Feb 19 Buy Paul Brandling Individual 25. Feb 19 25. Feb 19 25,104 A$2.38 A$59,642
X
Management checks
We assess Integrated Research's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Integrated Research has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

News

Simply Wall St News

Integrated Research Limited (ASX:IRI) Delivered A Better ROE Than Its Industry

The formula for return on equity is: Return on Equity = Net Profit ÷ Shareholders' Equity Or for Integrated Research: 33% = AU$22m ÷ AU$65m (Based on the trailing twelve months to December 2018.) Most know that net profit is the total earnings after all expenses, but the concept of shareholders' equity is a little more complicated. … One simple way to determine if a company has a good return on equity is to compare it to the average for its industry. … Combining Integrated Research's Debt And Its 33% Return On Equity Shareholders will be pleased to learn that Integrated Research has not one iota of net debt!

Simply Wall St -

Do You Like Integrated Research Limited (ASX:IRI) At This P/E Ratio?

We'll apply a basic P/E ratio analysis to Integrated Research Limited's (ASX:IRI), to help you decide if the stock is worth further research. … The formula for P/E is: Price to Earnings Ratio = Share Price ÷ Earnings per Share (EPS) Or for Integrated Research: P/E of 19.21 = A$2.42 ÷ A$0.13 (Based on the trailing twelve months to December 2018.) Is A High Price-to-Earnings Ratio Good? … Integrated Research's Balance Sheet Since Integrated Research holds net cash of AU$9.6m, it can spend on growth, justifying a higher P/E ratio than otherwise.

Simply Wall St -

How Much Are Integrated Research Limited (ASX:IRI) Insiders Spending On Buying Shares?

So before you buy or sell Integrated Research Limited (ASX:IRI), you may well want to know whether insiders have been buying or selling. … It is perfectly legal for company insiders, including board members, to buy and sell stock in a company. … Integrated Research Insider Transactions Over The Last Year

Simply Wall St -

Investors Who Bought Integrated Research (ASX:IRI) Shares Five Years Ago Are Now Up 155%

By comparing earnings per share (EPS) and share price changes over time, we can get a feel for how investor attitudes to a company have morphed over time. … During five years of share price growth, Integrated Research achieved compound earnings per share (EPS) growth of 14% per year. … This EPS growth is slower than the share price growth of 21% per year, over the same period.

Simply Wall St -

Here's Why We Think Integrated Research (ASX:IRI) Is Well Worth Watching

If, on the other hand, you like companies that have revenue, and even earn profits, then you may well be interested in Integrated Research (ASX:IRI). … I like to take a look at earnings before interest and (EBIT) tax margins, as well as revenue growth, to get another take on the quality of the company's growth. … While Integrated Research did well to grow revenue over the last year, EBIT margins were dampened at the same time.

Simply Wall St -

Is Integrated Research Limited (ASX:IRI) An Attractive Dividend Stock?

Historically, Integrated Research Limited (ASX:IRI) has paid dividends to shareholders, and these days it yields 2.7%. … Let's dig deeper into whether Integrated Research should have a place in your portfolio. … View our latest analysis for Integrated Research

Simply Wall St -

With 3.6% Earnings Growth, Did Integrated Research Limited (ASX:IRI) Outperform The Industry?

For long-term investors, assessing earnings trend over time and against industry benchmarks is more beneficial than examining a single earnings announcement at a point in time. … Were IRI's earnings stronger than its past performances and the industry. … However, this one-year growth rate has been lower than its average earnings growth rate over the past 5 years of 17%, indicating the rate at which IRI is growing has slowed down.

Simply Wall St -

Is Integrated Research Limited's (ASX:IRI) 33% Better Than Average?

Our data shows Integrated Research has a return on equity of 33% for the last year. … That means that for every A$1 worth of shareholders' equity, it generated A$0.33 in profit. … Return on Equity = Net Profit ÷ Shareholders' Equity

Simply Wall St -

Integrated Research Limited (ASX:IRI): A Look At Return On Capital

and want to better understand how you can grow your money by investing in Integrated Research Limited (ASX:IRI). … Your equity share is granted in return for the capital provided to the business to operate, and in order for an investment to be successful the business has to create earnings from the funds that make up this capital. … Therefore, looking at how efficiently Integrated Research is able to use capital to create earnings will help us understand your potential return.

Simply Wall St -

Integrated Research Limited (ASX:IRI) Has Attractive Fundamentals, Here's Why

Building up an investment case requires looking at a stock holistically. … Today I've chosen to put the spotlight on Integrated Research Limited (ASX:IRI) due to its excellent fundamentals in more than one area. … that has been able to sustain great financial health over the past

Simply Wall St -

Company Info

Description

Integrated Research Limited designs, develops, implements, and sells systems and applications management computer software for business-critical computing, unified communication networks, and payment networks in the Americas, Europe, and the Asia Pacific. The company offers Prognosis, an integrated suite of monitoring and management software designed to give an organization’s management and technical personnel operational insight into the HP NonStop platform, distributed system servers, unified communications, payment environments, and the business applications that run on these platforms. It also provides testing solutions; and consulting services, such as implementation, customization, and training. The company serves stock exchanges, banks, credit card companies, telecommunications companies, computer companies, service providers, and manufacturing companies through sales offices, as well as through a distribution network. Integrated Research Limited was founded in 1988 and is headquartered in North Sydney, Australia.

Details
Name: Integrated Research Limited
IRI
Exchange: ASX
Founded: 1988
A$515,582,259
171,860,753
Website: http://www.ir.com
Address: Integrated Research Limited
100 Pacific Highway,
Level 9,
North Sydney,
New South Wales, 2060,
Australia
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
ASX IRI Ordinary Shares Australian Securities Exchange AU AUD 13. Dec 2000
OTCPK IREH.F Ordinary Shares Pink Sheets LLC US USD 13. Dec 2000
CHIA IRI Ordinary Shares Chi-X Australia AU AUD 13. Dec 2000
Number of employees
Current staff
Staff numbers
262
Integrated Research employees.
Industry
Application Software
Software
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/06/15 10:32
End of day share price update: 2019/06/14 00:00
Last estimates confirmation: 2019/05/23
Last earnings filing: 2019/02/13
Last earnings reported: 2018/12/31
Last annual earnings reported: 2018/06/30


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

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.