IPH Ltd IPH

Morningstar Rating
A$3.71 −0.01 (0.27%)
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Company Report

Price vs Fair Value

IPH is trading at a LOCK|y#R@jBg premium.
Price
A$3.71
Fair Value
&.q
Uncertainty
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1-Star Price
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5-Star Price
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Economic Moat
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Capital Allocation
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Bulls Say, Bears Say

Bulls

The lengthy life cycle of intellectual property protection and IPH’s lower reliance on litigation work allow it to generate revenue from clients over extended periods, minimizing revenue volatility.

Bears

The lack of (1) pricing power, (2) significant barriers to entry, and (3) client contractual terms, alongside the largely transactional nature of IPH’s revenue streams, results in the risk of client defections.

Trading Information

Previous Close Price
A$3.72
Day Range
A$3.68–3.78
52-Week Range
A$3.16–4.42
Bid/Ask
A$3.70 / A$3.72
Shares Outstanding
256.76M
Market Cap
A$952.60M
Volume/Avg
825,536 / 1M

Key Statistics

Price/Earnings (Normalized)
7.99
Price/Sales
1.36
Dividend Yield (Trailing)
10.38%
Dividend Yield (Forward)
10.51%
Dividend Payment Schedule
Mar, Sep
Total Yield
12.34%

Company Profile

IPH provides intellectual property services through its subsidiaries: Spruson and Ferguson, Smart & Biggar, Robic, Griffith Hack, and AJ Park. These services include patent filing, prosecution, enforcement, management, design, trademarks, and more. The company’s diverse client base comprises multinationals, public-sector research organizations, and local businesses across industries such as healthcare, finance, engineering, and technology. Revenue streams mainly consist of professional fees (fixed) and volume-based fees (linked to the quantity of work performed). About 70% of revenue is derived from pre-existing work in the system, while 30% comes from new patent applications.
Sector
Industrials
Industry
Specialty Business Services
Stock Style Box
Small Value
Total Number of Employees
—

Valuation

Metric
IPH
Price/Earnings (Normalized)
7.99
Price/Book Value
1.53
Price/Sales
1.36
Price/Cash Flow
6.43
Price/Earnings
IPH

Financial Strength

Metric
IPH
Quick Ratio
2.10
Current Ratio
2.44
Interest Coverage
5.25
Quick Ratio
IPH

Profitability

Metric
IPH
Return on Assets (Normalized)
9.58%
Return on Equity (Normalized)
18.40%
Return on Invested Capital (Normalized)
12.71%
Return on Assets
IPH

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