Company Valuation: IPH Limited

Data adjusted to current consolidation scope
Fiscal Period: June 2022 2023 2024 2025 2026 2027 2028 2029
Market Cap 1 1,786 1,839 1,553 1,193 989.3 859.2 - -
Change - 2.99% -15.53% -23.18% -17.1% -13.15% - -
Enterprise Value (EV) 1 1,859 2,179 1,912 1,548 1,346 1,166 1,133 1,101
Change - 17.23% -12.25% -19.05% -13.06% -13.37% -2.82% -2.81%
P/E 34x 27.5x 25.2x 17.8x 12.5x 8.66x 8.06x 7.75x
PBR 4.16x 3.19x 2.45x 1.71x 1.59x 1.39x 1.39x 1.4x
PEG - 1.5x -2x 5.41x 0.6x 0.3x 1.09x 1.89x
Capitalization / Revenue 4.64x 3.69x 2.55x 1.68x 1.39x 1.21x 1.19x 1.17x
EV / Revenue 4.83x 4.37x 3.13x 2.18x 1.89x 1.64x 1.57x 1.5x
EV / EBITDA 13.5x 12.8x 9.78x 7.47x 6.54x 5.77x 5.5x 5.26x
EV / EBIT 15.4x 18.7x 10.7x 8.21x 7.15x 6.41x 6.11x 5.84x
EV / FCF 21.2x 25.7x 15.8x 12.3x 9.06x 9.14x 7.71x 7.54x
FCF Yield 4.72% 3.9% 6.32% 8.13% 11% 10.9% 13% 13.3%
Dividend per Share 2 0.305 0.33 0.35 0.365 0.385 0.3821 0.3951 0.4046
Rate of return 3.74% 4.21% 5.58% 7.97% 9.97% 11.4% 11.8% 12.1%
EPS 2 0.24 0.2843 0.249 0.2572 0.3082 0.3868 0.4155 0.4325
Distribution rate 127% 116% 141% 142% 125% 98.8% 95.1% 93.5%
Net sales 1 385.1 498.1 609.9 710.3 712.8 709.2 720.6 733.4
EBITDA 1 137.4 170 195.5 207.2 205.9 202 205.9 209.4
EBIT 1 120.7 116.7 178.3 188.5 188.3 181.9 185.3 188.5
Net income 1 52.56 64.54 60.8 68.8 80.4 90.7 96.51 100.5
Net Debt 1 73.02 339.9 358.6 354.4 356.3 306.4 273.6 241.8
Reference price 2 8.160 7.830 6.270 4.580 3.860 3.350 3.350 3.350
Nbr of stocks (in thousands) 218,819 234,856 247,738 260,544 256,293 256,487 - -
Announcement Date 8/17/22 A 8/16/23 A 8/21/24 A 8/20/25 A 8/19/26 A - - -
1AUD in Million2AUD
Estimates

P/E, Detailed evolution



P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
8.66x1.64x5.77x11.41% 603M
36.27x6.65x23.57x0.99% 79.87B
36.44x1.22x13.12x1.03% 16.19B
19.74x2.02x9.96x3.73% 13.59B
25.49x2.84x12.18x2.93% 11.91B
23.22x3.27x12.61x2.47% 7.35B
15.63x0.66x9.27x1.37% 6.9B
84.53x - - - 5.72B
9.33x1.11x5.9x2.25% 5.56B
19.55x0.42x9.73x3.81% 5.41B
Average 27.88x 2.20x 11.35x 3.33% 15.31B
Weighted average by Cap. 32.55x 4.41x 17.78x 1.69%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA



Year-on-year evolution of the Yield

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