Highlights

  • Consensus rating of Buy from 6 analysts: 4 Buy or equivalent, 2 Hold, 0 Sell or equivalent.
  • Mean price target of A$4.12 against a share price of A$3.45 on 8 October 2026, an implied upside of 19.4%.
  • Analyst targets range from A$3.65 to A$4.65.
  • Net profit after tax was $80.4 million, up 16.9%, and statutory basic EPS were 30.9 cents, compared with 25.8 cents, with significantly fewer one-off non-underlying costs than the prior year.

IPH Limited (ASX:IPH) carries a consensus analyst rating of Buy. Of the 6 analyst recommendations recorded, 4 are Buy or equivalent, 2 are Hold and 0 are Sell or equivalent. The mean price target is A$4.12, with targets ranging from A$3.65 to A$4.65, against a current share price of A$3.45 (8 October 2026). IPH Limited is an international intellectual property services group with operations across Australia and New Zealand (ANZ), Asia and Canada.

Company name

IPH Limited

Ticker

(ASX:IPH)

Exchange

ASX (Australian Securities Exchange)

Current share price

A$3.45

Price date

8 October 2026

Number of analysts

6

Rating consensus

Buy

Consensus price target (mean)

A$4.12

Highest target

A$4.65

Lowest target

A$3.65

Implied upside/downside to mean target

Implied upside of 19.4%

Latest developments

IPH (ASX:IPH) announced its results for the full year ended 30 June 2026 (FY26) on 20 August 2026. Net profit after tax was $80.4 million, up 16.9%, and statutory basic EPS were 30.9 cents, compared with 25.8 cents, with significantly fewer one-off non-underlying costs than the prior year. Revenue rose 0.4% to $712.8 million, reflecting growth in Canada, including incremental Acquisition revenue, partly offset by a decline in ANZ.

Underlying EBITDA fell 0.6% to $205.9 million, primarily because of the higher average Australian dollar against the US and Canadian dollars, with a Margin of 28.9%. On a like-for-like basis, adjusted for acquisitions and constant currency, underlying EBITDA rose 2.9%. Underlying NPATA was $122.7 million, up 1.7%, and underlying basic EPSA was 47.2 cents, compared with 45.3 cents. Cash conversion was 110%, and 58% of underlying EBITDA, excluding corporate costs, was generated outside ANZ.

The final Dividend is 19.5 cents per share, 30% franked at the corporate tax rate and consistent with the prior corresponding period. Total FY26 dividends are 38.5 cents per share, up 5.5%.

Sector context

The company reports that its Earnings are exposed to currency movements, with the higher Australian dollar reducing reported earnings, and that its growth outside ANZ reflects acquisitions and improvement in Canada. Group revenue like-for-like was 1.6% ahead, with Canada growing, Asia marginally lower and ANZ lower.

Risks and what to watch

Underlying EBITDA declined 0.6% on a reported basis and revenue grew only 0.4%, with ANZ revenue declining. The final dividend is only 30% franked. Currency movements affect reported results, and intellectual property filing volumes depend on economic conditions and client activity. Underlying NPATA and EBITDA are non-statutory measures.

Next milestones

Items to watch include payment of the 19.5 cent final dividend, ANZ revenue trends, performance in Canada and Asia, currency effects on reported earnings, and the half-year result.