IODM LIMITED (IOD)
Share Price Analysis and Chart

04/08/2026

1

Buy

$0.29

211.83%

Shaw and Partners maintains a Buy rating for IODM with a $0.29 target price following a fourth-quarter FY26 cash flow update reflecting expanding international partner foundations.

Fourth-quarter customer receipts rose 29% year-on-year to $3.4m, missing the broker's estimates due to university onboarding timing, while cash operating expenses reached $6.3m to close the financial year with $1m in net debt.

UK operations expanded to 18 onboarded universities, positioning a major institution signed in January 2026 to achieve a $600k annual revenue run rate ahead of the upcoming academic year.

North American commercial expansion alongside partner TransferMate targets onboarding over five universities monthly from early FY27 across a target market of 1.1m international students.

Lower near-term university exit rates prompt a -7%-21% reduction in FY27 through FY29 revenue estimates, though reduced cash cost growth to 9% offsets the operational impact, leading the analyst to view upcoming North American deployment as transformational.

FORECAST
Shaw and Partners forecasts a full year FY26 dividend of 0.00 cents and EPS of minus -0.40 cents.
Shaw and Partners forecasts a full year FY27 dividend of 0.00 cents and EPS of minus -0.30 cents.