Objective Corporation Limited (OCL) AI Stock Analysis

• Market Cap: AU$1.40B
• Dividend Yield: 1.27%
• Average Volume (3M): 112.14K
• Price to Earnings (P/E): 41.2
• Beta (1Y): 0.73
• Revenue Growth: 5.11%
• EPS Growth: 12.91%
• Country: AU
• Employees: 400
• Sector: Technology
• Sector Strength: 88
• Industry: Software - Application
• EPS (TTM): 0.20
• Shares Outstanding: 95,903,015
• 10 Day Avg. Volume: 45,051
• 30 Day Avg. Volume: 112,135
• PEG Ratio: 4.32
• Price to Book (P/B): 17.47
• Price to Sales (P/S): 15.02
• P/FCF Ratio: 40.62
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: AU$22.15
• Price Target Upside: 34.37% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 2
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 65 Neutral
• Price Target: AU$16.50 ▲(0.12% Upside)

Objective Corporation Limited's strong financial performance is offset by weak technical indicators and high valuation. The company's profitability and low leverage are positive, but the stock's bearish momentum and overvaluation present risks. Investors should monitor future growth strategies and market conditions closely.

Positive Factors

High Profitability / Margins

Exceptionally high gross and net margins indicate durable pricing power and a low cost base typical of enterprise software. Such profitability supports reinvestment in product development, funds recurring R&D and servicing, and provides cushion to sustain operations through slower revenue cycles.

Strong Balance Sheet and Efficiency

Very low financial leverage reduces solvency risk and interest burden, while a high ROE shows efficient use of equity to generate profits. This combination enhances resilience, supports strategic investments or M&A, and preserves capacity for shareholder returns over the medium term.

Recurring Revenue Model and High Switching Costs

A business mix of software licensing, recurring maintenance and professional services yields predictable, renewal-driven cash flows. Long implementation cycles and regulatory record-keeping create high switching costs, underpinning customer retention and steady revenue over multiple years.

Negative Factors

Slowing Revenue Growth

A marked deceleration in top-line growth constrains the company's ability to leverage high margins into larger operating earnings. Over the medium term, persistently low organic growth raises pressure to expand product set, enter new markets, or pursue M&A to sustain investor returns and scale.

Decline in Free Cash Flow Growth

A falling free cash flow trajectory and weaker operating cash conversion reduce financial flexibility for capex, acquisitions, or dividends. Even with a solid FCF-to-net-income ratio, negative growth in FCF is a medium-term concern for funding growth initiatives without increasing leverage or diluting equity.

Customer Concentration in Government/Regulated Sectors

Heavy exposure to public sector and regulated clients narrows addressable market expansion and ties revenue to budget cycles, procurement rules and policy shifts. This sector concentration can amplify revenue volatility from political or regulatory changes and limits diversification options long term.

Objective Corporation Limited Business Overview & Revenue Model

Company Description

Objective Corporation Limited, together with its subsidiaries, supplies information technology software and services in Australia, the United Kingdom, New Zealand, and internationally. It offers Objective 3Sixty to discover, organize, and manage enterprise information; Objective Nexus, a SaaS based solution providing records compliance, enterprise scale information management, and process automation; Objective Inform, which provides document management, records management, office 365, SharePoint governance, reporting insights, and drawings management solutions; Objective Perform to streamline and automate content-driven processes; Objective ECM, an information management and process automation solution; Objective Connect, a secure external file sharing application; Objective Redact, a redaction software for security for conscious organizations; and Objective GOV365. The company also provides Objective Ministerials, a workflow software for ministerial briefs and correspondence, as well as offers professional, managed, training and education, and technical support services; Objective Build, a management platform; Objective OpenGov to locate, collaborate, protect, and release information; Objective Trapeze, a software purpose-built for planners and building teams; Objective Keystone solution to author, approve, and publish documents; Objective REGWORKS, a software designed specifically for regulation, compliance, and enforcement; and Objective REACH, a solution for matching data. It serves the public sector, local government, regulation, wealth, banking, and insurance sectors. The company was founded in 1987 and is headquartered in North Sydney, Australia.

How the Company Makes Money

Objective Corporation Limited generates revenue through a combination of software licensing, subscription services, and professional services. The primary revenue streams include sales of its software products, which are often offered on a subscription basis, providing a steady stream of recurring income. Additionally, the company earns revenue from consulting and implementation services that help clients integrate and customize their software solutions. Significant partnerships with government agencies and organizations in regulated sectors contribute to its earnings, as these clients require robust and compliant information management systems. The company's ongoing investment in product development and customer support also aids in client retention and expansion, further enhancing its revenue potential.

Objective Corporation Limited Financial Statement Overview

Summary

Objective Corporation Limited shows strong profitability with high profit margins and a robust balance sheet characterized by low leverage. However, the slowdown in revenue growth and decline in free cash flow growth are concerns that could impact future financial performance.

Income Statement

Objective Corporation Limited has demonstrated consistent revenue growth over the years, with a notable increase in gross profit margin, reaching 94.17% in 2025. The net profit margin has also improved to 28.70%, indicating strong profitability. EBIT and EBITDA margins are healthy, reflecting efficient cost management. However, the revenue growth rate has slowed down to 2.04% in 2025, which could be a concern for future growth prospects.

Balance Sheet

The company's balance sheet shows a strong equity position with a low debt-to-equity ratio of 0.11 in 2025, indicating low financial leverage and reduced risk. Return on equity is robust at 33.37%, showcasing effective use of equity to generate profits. However, the equity ratio is not explicitly mentioned, which limits a comprehensive assessment of asset financing.

Cash Flow

Objective Corporation Limited's cash flow statement reveals a decline in free cash flow growth by 10.64% in 2025, which may impact future liquidity. The operating cash flow to net income ratio stands at 0.62, suggesting moderate cash generation efficiency. The free cash flow to net income ratio is strong at 0.99, indicating good cash flow relative to net income, despite the recent decline in growth.

Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	92.41M	123.50M	114.80M	108.92M	106.37M	94.92M
Gross Profit	87.04M	116.31M	107.21M	101.72M	100.75M	89.59M
EBITDA	32.85M	42.24M	44.37M	27.41M	29.38M	25.15M
Net Income	26.23M	35.44M	31.33M	21.09M	19.56M	16.09M
Balance Sheet
Total Assets	193.96M	193.96M	172.90M	159.99M	140.44M	116.73M
Cash, Cash Equivalents and Short-Term Investments	99.16M	99.16M	95.98M	72.52M	63.79M	48.36M
Total Debt	11.44M	11.44M	14.11M	15.92M	9.22M	11.50M
Total Liabilities	87.77M	87.77M	80.60M	86.44M	78.49M	69.78M
Stockholders Equity	106.19M	106.19M	92.30M	73.55M	61.96M	46.95M
Cash Flow
Free Cash Flow	29.02M	45.67M	40.69M	22.86M	29.33M	23.58M
Operating Cash Flow	46.26M	46.26M	55.78M	23.43M	30.54M	24.70M
Investing Cash Flow	-16.35M	-16.35M	-15.18M	-757.00K	-4.69M	-19.35M
Financing Cash Flow	-26.18M	-26.18M	-17.16M	-14.10M	-10.42M	-8.00M

Objective Corporation Limited Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 16.48
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Positive
• RSI: Neutral
• STOCH: Positive

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For AU:OCL, the sentiment is Negative. The current price of 16.48 is above the 20-day moving average (MA) of 15.94, below the 50-day MA of 16.71, and below the 200-day MA of 18.27, indicating a bearish trend. The MACD of -0.51 indicates Positive momentum. The RSI at 34.20 is Neutral, neither overbought nor oversold. The STOCH value of 17.12 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for AU:OCL.

Objective Corporation Limited Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
BVS	71 Outperform	AU$822.63M	11.93	65.33%	10.16%	25.67%	744.90%
XRO	69 Neutral	AU$13.73B	51.82	8.14%	―	19.01%	19.06%
OCL	65 Neutral	AU$1.40B	41.16	35.71%	1.27%	5.11%	12.91%
IRE	65 Neutral	AU$1.45B	17.11	26.73%	2.47%	-4.10%	341.80%
Sector *	61 Neutral	$37.18B	12.37	-10.20%	1.83%	8.50%	-7.62%
TNE	61 Neutral	AU$7.41B	60.05	32.67%	0.83%	18.16%	16.25%
NXL	43 Neutral	AU$507.01M	-54.11	-3.19%	―	0.40%	-280.65%

Objective Corporation Limited Corporate Events

Objective Corporation Seeks ASX Quotation for Additional Ordinary Shares

Objective Corporation Limited has applied to the ASX for quotation of 1,250 new fully paid ordinary shares (ASX code: OCL), issued on 28 January 2026 following the exercise or conversion of existing options or other convertible securities. The small-scale issuance marginally increases the company’s quoted capital and reflects ongoing participation in its equity-based incentives or financing structures, with limited immediate impact on its overall capital structure but incremental dilution and liquidity implications for shareholders.

The most recent analyst rating on (AU:OCL) stock is a Hold with a A$16.50 price target. To see the full list of analyst forecasts on Objective Corporation Limited stock, see the AU:OCL Stock Forecast page.

Objective Corporation Launches On‑Market Share Buy-Back

Objective Corporation Limited has notified the ASX that it will commence an on‑market buy-back of its ordinary fully paid shares, identified under the code OCL, as outlined in its Appendix 3C filing dated 23 January 2026. The move signals a capital management initiative that may support the company’s share price and indicates confidence in its financial position, with potential implications for shareholder value through a reduction in shares on issue, although the announcement does not specify the size or timing parameters of the program.

The most recent analyst rating on (AU:OCL) stock is a Hold with a A$16.50 price target. To see the full list of analyst forecasts on Objective Corporation Limited stock, see the AU:OCL Stock Forecast page.

Objective Corporation Seeks ASX Quotation for 20,000 New Ordinary Shares

Objective Corporation Limited has applied to the ASX for quotation of 20,000 new fully paid ordinary shares, issued on 21 January 2026. The modest increase in quoted securities reflects the conversion or exercise of existing options or other convertible instruments, slightly expanding the company’s equity base while signalling continued utilisation of its employee or investor equity incentive structures.

The most recent analyst rating on (AU:OCL) stock is a Hold with a A$18.00 price target. To see the full list of analyst forecasts on Objective Corporation Limited stock, see the AU:OCL Stock Forecast page.

Objective Corporation Seeks ASX Quotation for Additional Ordinary Shares

Objective Corporation Limited has applied to the ASX for quotation of 400 new fully paid ordinary shares under the code OCL, following the exercise or conversion of existing options or other convertible securities. The modest issuance marginally increases the company’s quoted capital base, signalling routine capital management activity rather than a significant change in ownership structure or strategy, with limited immediate impact on existing shareholders or the company’s market positioning.

The most recent analyst rating on (AU:OCL) stock is a Hold with a A$18.00 price target. To see the full list of analyst forecasts on Objective Corporation Limited stock, see the AU:OCL Stock Forecast page.

Objective Corporation Seeks Quotation of Additional Ordinary Shares on ASX

Objective Corporation Limited has applied to the ASX for quotation of 500 ordinary fully paid shares, to be traded under its existing ticker OCL. The small issuance arises from the exercise or conversion of existing options or other convertible securities, modestly increasing the company’s quoted capital base without signaling a major capital raising or strategic shift for shareholders.

The most recent analyst rating on (AU:OCL) stock is a Hold with a A$18.00 price target. To see the full list of analyst forecasts on Objective Corporation Limited stock, see the AU:OCL Stock Forecast page.

Objective Corporation Sets Date for First-Half FY2026 Results and Investor Webcast

Objective Corporation has announced it will release its first half FY2026 results on Thursday, 26 February 2026, with Founder and CEO Tony Walls and CFO Ben Tregoning to present the numbers via a live investor webcast the same day. The scheduled results release and webcast underline the company’s ongoing investor engagement and transparency as it continues to position its governance-focused digital software solutions at the heart of public sector and regulated industry modernisation efforts.

The most recent analyst rating on (AU:OCL) stock is a Buy with a A$20.00 price target. To see the full list of analyst forecasts on Objective Corporation Limited stock, see the AU:OCL Stock Forecast page.

Objective Corporation Applies for Quotation of Additional Ordinary Shares

Objective Corporation Limited has applied to the ASX for quotation of an additional 1,250 ordinary fully paid shares, following the exercise or conversion of existing options or other convertible securities. The modest increase in quoted securities, issued on 7 January 2026, reflects routine capital management activity rather than a major capital raising, suggesting limited immediate impact on the company’s balance sheet or shareholder base, but slightly expanding the free float and tradable equity on the market.

The most recent analyst rating on (AU:OCL) stock is a Buy with a A$20.00 price target. To see the full list of analyst forecasts on Objective Corporation Limited stock, see the AU:OCL Stock Forecast page.

Objective Corporation Seeks ASX Quotation for 125,000 New Shares

Objective Corporation Limited has applied to the ASX for quotation of 125,000 new fully paid ordinary shares under its existing OCL ticker, following the exercise or conversion of options or other convertible securities. The additional securities, issued on 18 December 2025, will modestly increase the company’s quoted share capital, reflecting equity-based activity that may slightly dilute existing holders while supporting Objective’s capital structure and potential funding or incentive arrangements.

The most recent analyst rating on (AU:OCL) stock is a Buy with a A$20.00 price target. To see the full list of analyst forecasts on Objective Corporation Limited stock, see the AU:OCL Stock Forecast page.

Objective Corporation Applies for Quotation of New Securities on ASX

Objective Corporation Limited announced the application for quotation of 10,250 fully paid ordinary securities on the Australian Securities Exchange (ASX). The issuance of these securities, following the conversion of options or convertible securities, aligns with the company’s ongoing corporate management efforts, potentially enhancing liquidity and shareholder value.

The most recent analyst rating on (AU:OCL) stock is a Buy with a A$20.00 price target. To see the full list of analyst forecasts on Objective Corporation Limited stock, see the AU:OCL Stock Forecast page.

Objective Corporation Announces Quotation of New Securities on ASX

Objective Corporation Limited has announced the quotation of 68,750 ordinary fully paid securities on the Australian Securities Exchange (ASX), effective from December 11, 2025. This move follows the exercise of options or conversion of convertible securities, potentially impacting the company’s market presence and offering new opportunities for stakeholders.

The most recent analyst rating on (AU:OCL) stock is a Buy with a A$20.00 price target. To see the full list of analyst forecasts on Objective Corporation Limited stock, see the AU:OCL Stock Forecast page.

Objective Corporation Limited Announces Quotation of New Securities

Objective Corporation Limited has announced the issuance of 750 fully paid ordinary securities, which will be quoted on the Australian Securities Exchange (ASX) under the code OCL. This move is part of the company’s ongoing efforts to manage its capital structure and potentially enhance its market position by increasing the liquidity of its shares.

The most recent analyst rating on (AU:OCL) stock is a Buy with a A$20.00 price target. To see the full list of analyst forecasts on Objective Corporation Limited stock, see the AU:OCL Stock Forecast page.

Objective Corporation Limited Applies for Quotation of New Securities

Objective Corporation Limited announced the application for quotation of 3,620 ordinary fully paid securities on the Australian Securities Exchange (ASX). This move is part of the company’s ongoing efforts to manage its securities and enhance its market presence, potentially impacting its financial operations and stakeholder interests.

The most recent analyst rating on (AU:OCL) stock is a Buy with a A$20.00 price target. To see the full list of analyst forecasts on Objective Corporation Limited stock, see the AU:OCL Stock Forecast page.

Objective Corporation’s AGM Resolutions Passed with Strong Support

Objective Corporation Limited announced the successful passing of all items of business at its 2025 Annual General Meeting. The key resolutions, including the adoption of the Remuneration Report and the re-election of Director Mr. Stephen Bool, were approved by a significant majority of shareholders, indicating strong shareholder support and stability in the company’s governance structure.

The most recent analyst rating on (AU:OCL) stock is a Buy with a A$25.00 price target. To see the full list of analyst forecasts on Objective Corporation Limited stock, see the AU:OCL Stock Forecast page.

Objective Corporation’s Annual General Meeting Highlights Stakeholder Engagement

Objective Corporation Limited held its Annual General Meeting on November 25, 2025. The meeting provided shareholders with the opportunity to engage directly with the company’s leadership through a Q&A session, either in written form or via live audio. This interactive approach underscores the company’s commitment to transparency and stakeholder engagement.

The most recent analyst rating on (AU:OCL) stock is a Buy with a A$25.00 price target. To see the full list of analyst forecasts on Objective Corporation Limited stock, see the AU:OCL Stock Forecast page.