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IPH Ltd.
(Sydney:IPH)
IPH Ltd. (IPH) vs. iShares MSCI Australia ETF (EWA)
IPH Ltd. Business Overview & Revenue Model
IPH Ltd. Financial Statement Overview
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 706.20M | 706.20M | 605.60M | 482.87M | 374.33M | 359.68M |
| Gross Profit | 706.20M | 706.20M | 389.80M | 315.77M | 250.92M | 243.29M |
| EBITDA | 189.00M | 187.10M | 179.60M | 159.16M | 115.99M | 113.33M |
| Net Income | 68.80M | 68.80M | 60.80M | 64.54M | 52.56M | 53.60M |
Balance Sheet | ||||||
| Total Assets | 1.35B | 1.35B | 1.31B | 1.20B | 688.42M | 674.69M |
| Cash, Cash Equivalents and Short-Term Investments | 59.00M | 59.00M | 75.50M | 103.27M | 88.40M | 71.15M |
| Total Debt | 469.70M | 469.70M | 491.80M | 441.29M | 161.22M | 159.39M |
| Total Liabilities | 651.10M | 651.10M | 679.10M | 619.50M | 258.71M | 247.90M |
| Stockholders Equity | 699.40M | 699.40M | 634.30M | 577.13M | 429.71M | 426.79M |
Cash Flow | ||||||
| Free Cash Flow | 128.00M | 125.80M | 120.90M | 84.90M | 87.69M | 86.47M |
| Operating Cash Flow | 133.70M | 133.70M | 131.90M | 91.79M | 94.88M | 92.65M |
| Investing Cash Flow | -70.40M | -70.40M | -140.60M | -281.56M | -12.18M | -10.84M |
| Financing Cash Flow | -83.10M | -83.10M | -11.30M | 199.46M | -68.68M | -93.55M |
IPH Ltd. Technical Analysis
IPH Ltd. Peers Comparison
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
79 Outperform | AU$1.21B | 14.62 | 31.30% | 5.51% | 11.64% | 18.08% | |
76 Outperform | AU$184.34M | 20.60 | 8.06% | 4.11% | 27.05% | 520.93% | |
68 Neutral | AU$977.30M | 14.51 | 10.32% | 10.58% | 16.61% | 3.07% | |
63 Neutral | $10.79B | 15.43 | 7.44% | 2.01% | 2.89% | -14.66% | |
63 Neutral | AU$362.20M | 105.26 | 13.37% | 0.11% | 24.47% | 21.28% |
IPH Ltd. Corporate Events
Citigroup Global Markets Australia Pty Limited and its related Citi group entities have notified IPH Ltd that they have ceased to be substantial shareholders in the company as of 24 December 2025. The change follows a reduction in relevant interests arising from securities lending arrangements, with Citibank N.A. Sydney Branch and Citigroup Global Markets Limited both decreasing their holdings of IPH ordinary fully paid shares under obligations to return stock lent to counterparties, signaling a withdrawal of Citi’s substantial holder status and potentially altering the composition of IPH’s institutional investor base.
The most recent analyst rating on (AU:IPH) stock is a Buy with a A$4.04 price target. To see the full list of analyst forecasts on IPH Ltd. stock, see the AU:IPH Stock Forecast page.
JPMorgan Chase & Co. and its affiliates have notified IPH Ltd that they have ceased to be a substantial holder in the company, following a series of changes in their relevant interests in IPH’s ordinary shares. The change reflects transactions across multiple JPMorgan entities, including securities lending, investment management activities, principal trading, and rehypothecation under prime brokerage, resulting in their voting power falling below the substantial holding threshold as of 23 December 2025, a move that may slightly alter IPH’s institutional shareholder base and could affect perceptions of its free float and liquidity among investors.
The most recent analyst rating on (AU:IPH) stock is a Buy with a A$4.04 price target. To see the full list of analyst forecasts on IPH Ltd. stock, see the AU:IPH Stock Forecast page.
IPH Limited has released 5,961,705 fully paid ordinary shares from voluntary escrow, relating to its acquisition of Canadian IP firm ROBIC completed in December 2023. The company acknowledged that its notice to the ASX regarding the share release was lodged later than required due to an administrative oversight, but stated that its current compliance arrangements remain adequate and that it does not see a need for additional measures, suggesting minimal operational or regulatory impact from the delay for investors and other stakeholders.
The most recent analyst rating on (AU:IPH) stock is a Buy with a A$4.04 price target. To see the full list of analyst forecasts on IPH Ltd. stock, see the AU:IPH Stock Forecast page.
IPH Ltd. announced a change in the director’s interest, specifically concerning Andrew Nathaniel Blattman, who holds both direct and indirect interests in the company’s securities. The notice details that there were no changes in the number of shares held, but there was an acquisition of 91,422 performance rights under the company’s Employee Incentive Plan. This update reflects the company’s ongoing commitment to aligning executive interests with shareholder value, potentially impacting stakeholder confidence and the company’s strategic direction.
The most recent analyst rating on (AU:IPH) stock is a Buy with a A$4.04 price target. To see the full list of analyst forecasts on IPH Ltd. stock, see the AU:IPH Stock Forecast page.
IPH Limited announced a change in the interest of its director, Katharine Anne Mason, who acquired 14,300 fully paid ordinary shares through an on-market trade, increasing her total holdings to 26,977 shares. This acquisition reflects a significant increase in Mason’s stake in the company, potentially indicating her confidence in the company’s future performance and strategic direction, which may positively impact stakeholder perceptions and market positioning.
The most recent analyst rating on (AU:IPH) stock is a Buy with a A$4.04 price target. To see the full list of analyst forecasts on IPH Ltd. stock, see the AU:IPH Stock Forecast page.
IPH Ltd. announced a change in the director’s interest, with Vicki Anne Carter acquiring additional shares through an on-market trade. This change reflects an increase in Carter’s indirect interest in the company, potentially indicating confidence in the company’s future performance and strategic direction.
The most recent analyst rating on (AU:IPH) stock is a Buy with a A$6.00 price target. To see the full list of analyst forecasts on IPH Ltd. stock, see the AU:IPH Stock Forecast page.
IPH Limited has announced the cessation of Jingmin Qian as a director, effective November 20, 2025. The announcement details Qian’s interests in the company, which include holding 25,695 fully paid ordinary shares. This change in directorship may impact the company’s governance structure and could have implications for its strategic direction.
The most recent analyst rating on (AU:IPH) stock is a Hold with a A$5.00 price target. To see the full list of analyst forecasts on IPH Ltd. stock, see the AU:IPH Stock Forecast page.
IPH Limited’s 2025 Annual General Meeting concluded with all resolutions passed by poll, including the re-election of directors and approval of security issues under the equity incentive plan. Although a ‘second strike’ on the FY25 Remuneration Report was avoided, a conditional spill resolution was considered but ultimately not enacted. This outcome reflects stability in IPH’s governance and operational strategies, reinforcing its position in the intellectual property services industry.
The most recent analyst rating on (AU:IPH) stock is a Hold with a A$5.00 price target. To see the full list of analyst forecasts on IPH Ltd. stock, see the AU:IPH Stock Forecast page.
IPH Limited reported a challenging FY25 with a Statutory Net Profit After Tax of $68.8 million, up from $60.8 million the previous year, and an Underlying EBITDA increase of 6.0% to $207.2 million, primarily due to acquisitions in Canada. Despite a decline in share price, the company is addressing market challenges by diversifying revenue sources, enhancing business development, and implementing cost efficiencies. The company declared a final dividend of 19.5 cents per share, reflecting a 4% increase from the prior year. The disruptions in the Canadian Intellectual Property Office have started to abate, and IPH is focusing on expanding into additional jurisdictions and improving operational efficiencies to enhance shareholder returns.
The most recent analyst rating on (AU:IPH) stock is a Hold with a A$5.00 price target. To see the full list of analyst forecasts on IPH Ltd. stock, see the AU:IPH Stock Forecast page.
IPH Limited announced the withdrawal of Resolution 5(b) from its upcoming Annual General Meeting, which pertained to granting performance rights to CEO Dr. Andrew Blattman as part of a long-term incentive. This decision follows Dr. Blattman’s planned retirement in the latter half of 2026. The withdrawal does not impact the validity of other resolutions or votes already submitted for the AGM, including a separate resolution for short-term incentives for Dr. Blattman.
The most recent analyst rating on (AU:IPH) stock is a Hold with a A$5.00 price target. To see the full list of analyst forecasts on IPH Ltd. stock, see the AU:IPH Stock Forecast page.
IPH Limited announced the upcoming retirement of Dr. Andrew Blattman as Managing Director and CEO in the second half of 2026. The company will begin a formal search for his successor, considering both internal and external candidates. Under Dr. Blattman’s leadership, IPH has significantly expanded its presence in Asia and entered the Canadian market through strategic acquisitions. His tenure has been marked by transformative growth, positioning IPH for continued success. The Board expressed confidence in the company’s strategy and management team to ensure a smooth leadership transition.
The most recent analyst rating on (AU:IPH) stock is a Hold with a A$5.00 price target. To see the full list of analyst forecasts on IPH Ltd. stock, see the AU:IPH Stock Forecast page.
IPH Limited has announced a change in the director’s interest notice concerning Peter Hastings Warne. The notice details an off-market transfer of 45,495 fully paid ordinary shares held by Specialist Nominees Pty Ltd as custodian for Warne, to P&F Investments Pty Limited as trustee for the Warne Family Trust, with no change in beneficial ownership. This administrative update does not impact the company’s operations or market positioning.
The most recent analyst rating on (AU:IPH) stock is a Buy with a A$5.55 price target. To see the full list of analyst forecasts on IPH Ltd. stock, see the AU:IPH Stock Forecast page.
IPH Limited has announced its Annual General Meeting, scheduled for November 20, 2025, at 10:30 am AEDT, to be held physically in Sydney and accessible via webcast. This meeting is a significant event for stakeholders, offering insights into the company’s strategic direction and operational updates.
The most recent analyst rating on (AU:IPH) stock is a Buy with a A$5.55 price target. To see the full list of analyst forecasts on IPH Ltd. stock, see the AU:IPH Stock Forecast page.
IPH Limited has announced the cessation of certain securities, specifically 690,743 performance rights, due to the conditions for these rights not being met or becoming incapable of being satisfied. This development may impact the company’s financial structuring and could have implications for stakeholders, as it reflects on the company’s ability to meet certain performance conditions.
The most recent analyst rating on (AU:IPH) stock is a Buy with a A$5.55 price target. To see the full list of analyst forecasts on IPH Ltd. stock, see the AU:IPH Stock Forecast page.