Objective Corporation Limited (AU:OCL)
ASX:OCL
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Objective Corporation Limited
(Sydney:OCL)
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Rating:66Neutral
Price Target:
AU$11.00
▼(-6.94% Downside)
Action:Reiterated
Date:03/20/26
The score is primarily supported by strong financial performance (high margins and low leverage), but is held back by clearly bearish technical signals and only moderate valuation support from a mid-range P/E and modest dividend yield.
Positive Factors
High Profitability & Margins
Objective's very high gross margin (94.17% in 2025) and improved net margin (28.70%) indicate durable pricing power and a scalable, low-cost delivery model typical of enterprise software. These margins support long-term reinvestment in product and services, sustain cash generation, and enable consistent returns even if top-line growth moderates.
Negative Factors
Slowing Revenue Growth
Revenue growth decelerating to 2.04% in 2025 is a structural concern for an enterprise software provider reliant on recurring license, subscription and services expansion. Prolonged low top-line growth can limit scale benefits, reduce upside for operating leverage, and constrain long-term margin and cash-flow expansion.
Read all positive and negative factors
Positive Factors
Negative Factors
High Profitability & Margins
Objective's very high gross margin (94.17% in 2025) and improved net margin (28.70%) indicate durable pricing power and a scalable, low-cost delivery model typical of enterprise software. These margins support long-term reinvestment in product and services, sustain cash generation, and enable consistent returns even if top-line growth moderates.
Read all positive factors
Objective Corporation Limited (OCL) vs. iShares MSCI Australia ETF (EWA)
Market Cap
AU$979.13M
Dividend Yield1.27%
Average Volume (3M)112.14K
Price to Earnings (P/E)35.7
Beta (1Y)0.57
Revenue Growth6.51%
EPS Growth15.45%
CountryAU
Employees400
SectorTechnology
Sector Strength88
IndustrySoftware - Application
Share Statistics
EPS (TTM)0.30
Shares Outstanding95,993,020
10 Day Avg. Volume45,051
30 Day Avg. Volume112,135
Financial Highlights & Ratios
PEG Ratio4.27
Price to Book (P/B)17.47
Price to Sales (P/S)15.02
P/FCF Ratio40.62
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
AU$18.35Price Target Upside55.25% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering2
EPS Forecast (FY)0.38
Revenue Forecast (FY)AU$131.79M
Objective Corporation Limited Business Overview & Revenue Model
Company Description
Objective Corporation Limited, operating with its various subsidiaries, delivers a comprehensive array of information technology software and associated services to clients internationally, with a significant presence in Australia, the United King...
How the Company Makes Money
OCL makes money primarily by selling and supporting its enterprise software products. Revenue is typically generated through (1) software licensing or subscription fees for access to its platforms and modules used for document/records management a...
Objective Corporation Limited Financial Statement Overview
Summary
Income Statement
85
Very Positive
Balance Sheet
78
Positive
Cash Flow
72
Positive
| Breakdown | TTM | Jun 2025 | Jun 2024 | Jun 2023 | Jun 2022 | Jun 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 97.82M | 123.50M | 114.80M | 108.92M | 106.37M | 94.92M |
| Gross Profit | 87.85M | 116.31M | 107.21M | 101.72M | 100.75M | 89.59M |
| EBITDA | 38.08M | 42.24M | 44.37M | 27.41M | 29.38M | 25.15M |
| Net Income | 27.91M | 35.44M | 31.33M | 21.09M | 19.56M | 16.09M |
Balance Sheet | ||||||
| Total Assets | 198.04M | 193.96M | 172.90M | 159.99M | 140.44M | 116.73M |
| Cash, Cash Equivalents and Short-Term Investments | 95.09M | 99.16M | 95.98M | 72.52M | 63.79M | 48.36M |
| Total Debt | 17.39M | 11.44M | 14.11M | 15.92M | 9.22M | 11.50M |
| Total Liabilities | 86.59M | 87.77M | 80.60M | 86.44M | 78.49M | 69.78M |
| Stockholders Equity | 111.45M | 106.19M | 92.30M | 73.55M | 61.96M | 46.95M |
Cash Flow | ||||||
| Free Cash Flow | 38.05M | 45.67M | 40.69M | 22.86M | 29.33M | 23.58M |
| Operating Cash Flow | 55.31M | 46.26M | 55.78M | 23.43M | 30.54M | 24.70M |
| Investing Cash Flow | -20.20M | -16.35M | -15.18M | -757.00K | -4.69M | -19.35M |
| Financing Cash Flow | -23.08M | -26.18M | -17.16M | -14.10M | -10.42M | -8.00M |
Objective Corporation Limited Technical Analysis
Negative
11.82
Price Trends
11.02
Negative
12.05
Negative
15.13
Negative
Market Momentum
-0.15
Positive
37.68
Neutral
18.32
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 11.82 is above the 20-day moving average (MA) of 10.73, above the 50-day MA of 11.02, and below the 200-day MA of 15.13, indicating a bearish trend. The MACD of -0.15 indicates Positive momentum. The RSI at 37.68 is Neutral, neither overbought nor oversold. The STOCH value of 18.32 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
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
73 Outperform | AU$963.84M | 24.84 | 42.94% | 10.16% | -12.00% | -45.47% | |
71 Outperform | AU$12.26B | 84.44 | 3.68% | ― | 27.32% | -30.84% | |
68 Neutral | AU$9.81B | 70.39 | 32.19% | 0.83% | 14.48% | 6.31% | |
66 Neutral | AU$979.13M | 35.65 | 25.65% | 1.27% | 6.51% | 15.45% | |
61 Neutral | $37.18B | 12.37 | -10.20% | 1.83% | 8.50% | -7.62% | |
59 Neutral | AU$1.14B | 14.28 | 19.57% | 2.47% | -7.41% | -11.47% | |
54 Neutral | AU$428.52M | 35.00 | 4.13% | ― | 4.45% | ― |
* Technology Sector Average
AU:OCL
Objective Corporation Limited
10.20
-7.38
-41.97%
AU:TNE
Technology One Limited
29.97
-9.73
-24.51%
AU:XRO
Xero Limited
71.88
-121.58
-62.85%
AU:IRE
IRESS Limited
6.20
-1.76
-22.10%
AU:BVS
Bravura Solutions Limited
2.15
0.09
4.17%
AU:NXL
Nuix Ltd.
1.27
-0.85
-40.05%
Objective Corporation Limited Corporate Events
Objective Corporation Seeks ASX Quotation for 5,000 New Ordinary Shares
Jun 4, 2026
Objective Corporation Limited has applied to the ASX for quotation of 5,000 new ordinary fully paid shares, issued on 4 June 2026 following the exercise or conversion of existing options or other convertible securities. The modest increase in quot...
Objective Corporation Updates Market on Progress of On‑Market Share Buy‑Back
May 26, 2026
Objective Corporation Limited has notified the market of ongoing activity under its on‑market share buy‑back program for ordinary fully paid shares traded under the ASX code OCL. The company is using this mechanism as part of its capit...
Objective Corporation Continues Daily On-Market Share Buy-Back
May 8, 2026
Objective Corporation Limited, listed on the ASX under the code OCL, has ordinary fully paid shares on issue and is engaged in an ongoing on-market share buy-back program as part of its broader capital management strategy. The company’s acti...
Objective Corporation Updates On-Market Share Buy-Back Activity
May 7, 2026
Objective Corporation Limited, listed on the ASX under the code OCL, is an issuer of ordinary fully paid shares and operates in the technology space, serving investors through its publicly traded equity. The company remains an active participant i...
Objective Corporation Updates Market on Progress of On‑Market Share Buy‑Back
Apr 12, 2026
Objective Corporation Limited, listed on the ASX under ticker OCL, has ordinary fully paid shares on issue and is engaged in ongoing capital management initiatives, including an on-market share buy-back program. The company released an updated not...
Objective Corporation updates market on ongoing on‑market share buy‑back
Apr 6, 2026
Objective Corporation Limited, listed on the ASX under the ticker OCL, offers technology and software solutions through its ordinary fully paid shares structure. The company serves clients seeking enterprise-grade software and related services in ...
Objective Corporation Updates Market on Progress of On-Market Share Buy-Back
Apr 1, 2026
Objective Corporation Limited, an Australian enterprise software provider focused on information and content management for government and regulated sectors, is listed on the ASX under the code OCL and has ordinary fully paid shares on issue. Its ...
Objective Corporation Provides Daily Update on On‑Market Share Buy‑Back
Mar 23, 2026
Objective Corporation Limited, listed on the ASX under code OCL, develops enterprise software solutions aimed at improving information governance, compliance and digital workflows for government and highly regulated organisations. Its ordinary ful...
Objective Corporation Updates Market on Ongoing On‑Market Share Buy‑Back
Mar 22, 2026
Objective Corporation Limited, listed on the ASX under ticker OCL with ordinary fully paid shares, is pursuing an on‑market share buy‑back as part of its capital management strategy. The company has been progressively repurchasing stoc...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.