Objective Corporation Limited

ASX:OCL Stock Report

Market Cap: AU$1.6b

Objective Valuation

Is OCL undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

2/6

Valuation Score 2/6

  • Below Fair Value

  • Significantly Below Fair Value

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Analyst Forecast

Share Price vs Fair Value

What is the Fair Price of OCL when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: OCL (A$16.95) is trading above our estimate of fair value (A$8.37)

Significantly Below Fair Value: OCL is trading above our estimate of fair value.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for OCL?

Key metric: As OCL is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for OCL. This is calculated by dividing OCL's market cap by their current earnings.
What is OCL's PE Ratio?
PE Ratio51.5x
EarningsAU$31.33m
Market CapAU$1.61b

Price to Earnings Ratio vs Peers

How does OCL's PE Ratio compare to its peers?

The above table shows the PE ratio for OCL vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average72.6x
IRE Iress
87.3x29.6%AU$1.7b
HSN Hansen Technologies
52.8x22.2%AU$1.1b
BVS Bravura Solutions
75.9x7.4%AU$665.7m
RUL RPMGlobal Holdings
74.5x22.6%AU$644.5m
OCL Objective
51.5x6.3%AU$1.6b

Price-To-Earnings vs Peers: OCL is good value based on its Price-To-Earnings Ratio (51.5x) compared to the peer average (72.6x).

Price to Earnings Ratio vs Industry

How does OCL's PE Ratio compare vs other companies in the AU Software Industry?

1 CompanyPrice / EarningsEstimated GrowthMarket Cap
IRI Integrated Research
4x-20.4%US$69.27m
No more companies available in this PE range
OCL 51.5xIndustry Avg. 63.8xNo. of Companies3PE020406080100+
1 CompanyEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: OCL is good value based on its Price-To-Earnings Ratio (51.5x) compared to the Australian Software industry average (65.3x).

Price to Earnings Ratio vs Fair Ratio

What is OCL's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

OCL PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio51.5x
Fair PE Ratio44x

Price-To-Earnings vs Fair Ratio: OCL is expensive based on its Price-To-Earnings Ratio (51.5x) compared to the estimated Fair Price-To-Earnings Ratio (44x).

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

The above table shows the analyst OCL forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentAU$16.95
AU$13.27
-21.7%
25.4%AU$17.60AU$5.50n/a9
Nov ’25AU$16.45
AU$13.04
-20.7%
24.4%AU$17.60AU$5.50n/a9
Oct ’25AU$14.25
AU$12.47
-12.5%
23.3%AU$15.00AU$5.50n/a8
Sep ’25AU$12.33
AU$12.47
+1.2%
23.3%AU$15.00AU$5.50n/a8
Aug ’25AU$12.73
AU$12.45
-2.2%
22.8%AU$14.40AU$5.50n/a8
Jul ’25AU$11.76
AU$12.45
+5.9%
22.8%AU$14.40AU$5.50n/a8
Jun ’25AU$12.40
AU$12.45
+0.4%
22.8%AU$14.40AU$5.50n/a8
May ’25AU$12.22
AU$12.45
+1.9%
22.8%AU$14.40AU$5.50n/a8
Apr ’25AU$12.89
AU$12.45
-3.4%
22.8%AU$14.40AU$5.50n/a8
Mar ’25AU$13.30
AU$12.52
-5.9%
23.4%AU$14.40AU$5.50n/a7
Feb ’25AU$12.40
AU$12.64
+2.0%
23.9%AU$14.55AU$5.50n/a7
Jan ’25AU$12.51
AU$12.75
+1.9%
24.1%AU$14.55AU$5.50n/a7
Dec ’24AU$11.71
AU$12.06
+3.0%
26.6%AU$14.55AU$5.50n/a7
Nov ’24AU$10.51
AU$13.15
+25.2%
14.5%AU$14.55AU$9.37AU$16.456
Oct ’24AU$10.70
AU$13.23
+23.6%
14.9%AU$15.00AU$9.37AU$14.256
Sep ’24AU$12.51
AU$13.23
+5.7%
14.9%AU$15.00AU$9.37AU$12.336
Aug ’24AU$13.43
AU$14.16
+5.5%
18.0%AU$16.50AU$9.37AU$12.735
Jul ’24AU$13.77
AU$14.79
+7.4%
17.3%AU$17.24AU$9.37AU$11.766
Jun ’24AU$13.57
AU$14.74
+8.6%
19.0%AU$17.24AU$9.37AU$12.405
May ’24AU$12.45
AU$16.06
+29.0%
5.7%AU$17.24AU$14.80AU$12.224
Apr ’24AU$12.91
AU$15.09
+16.9%
13.9%AU$17.24AU$11.21AU$12.895
Mar ’24AU$12.55
AU$15.09
+20.2%
13.9%AU$17.24AU$11.21AU$13.305
Feb ’24AU$13.67
AU$15.24
+11.5%
16.6%AU$18.04AU$11.21AU$12.404
Jan ’24AU$13.11
AU$15.11
+15.3%
16.4%AU$18.04AU$11.21AU$12.514
Dec ’23AU$14.08
AU$15.71
+11.6%
18.3%AU$18.40AU$11.21AU$11.714
Nov ’23AU$14.84
AU$17.09
+15.2%
21.8%AU$21.45AU$11.21AU$10.514

Analyst Forecast: Target price is lower than the current share price.

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