INTEGRATED RESEARCH LIMITED (IRI)
Share Price Analysis and Chart

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IRI - INTEGRATED RESEARCH LIMITED

FNArena Sector : IT & Support

Year End: June

GICS Industry Group : Software & Services

Debt/EBITDA: 0.13

Index:

Integrated Research is an Australian developer and global provider of enterprise software to monitor and maintain critical IT infrastructure, payment systems and communication systems. Founded in 1988, the company listed in 2000.

LAST PRICE	CHANGE +/-	CHANGE %	VOLUME
$0.365 08 Oct 2025	-0.005 OPEN $0.37	-1.35% HIGH $0.38	141,606 LOW $0.37

TARGET

$0.55

50.7% upside

Franking for last dividend paid out: 100%

OTHER COMPANIES IN THE SAME SECTOR
APX . DTL . FLN . HSN . OCL . STG . TNE .

FNARENA'S MARKET CONSENSUS FORECASTS

Title	FY24 Actual	FY25 Actual	FY26 Forecast	FY27 Forecast
EPS (cps)	xxx	7.6	5.6	xxx
DPS (cps)	xxx	2.0	2.0	xxx
EPS Growth	xxx	- 51.4%	- 25.9%	xxx
DPS Growth	xxx	0.0%	0.0%	xxx
PE Ratio	xxx	N/A	6.6	xxx
Dividend Yield	xxx	N/A	5.4%	xxx
Div Pay Ratio(%)	xxx	26.5%	35.7%	xxx

Dividend yield today if purchased 3 years ago: 5.26%

DIVIDEND YIELD CALCULATOR

Past performance is no guarantee for the future. Investors should take into account that heavy swings in share price or exceptional circumstances (a la 2009) can have a significant impact on short term calculations and averages

Last ex-div: 02/09 - ex-div 2c (franking 100%)

HISTORICAL DATA ARE ALL IN AUD

Copyright © 2025 FactSet UK Limited. All rights reserved

Title	2020	2021	2022	2023	2024	2025
EPS Basic	xxx	xxx	xxx	xxx	xxx	7.6
DPS All	xxx	xxx	xxx	xxx	xxx	2.0
Sales/Revenue	xxx	xxx	xxx	xxx	xxx	68.3 M
Book Value Per Share	xxx	xxx	xxx	xxx	xxx	56.7
Net Operating Cash Flow	xxx	xxx	xxx	xxx	xxx	11.5 M
Net Profit Margin	xxx	xxx	xxx	xxx	xxx	19.57 %

EPS Basic

Negative
Growth
Slowing

DPS All

Negative
Growth
Slowing

Sales/Revenue

Negative
Growth
Slowing

Book Value Per Share

Negative
Growth
Slowing

Net Operating Cash Flow

Negative
Growth
Slowing

Net Profit Margin

Negative
Growth
Slowing

Title	2020	2021	2022	2023	2024	2025
Return on Capital Employed	xxx	xxx	xxx	xxx	xxx	14.14 %
Return on Invested Capital	xxx	xxx	xxx	xxx	xxx	14.03 %
Return on Assets	xxx	xxx	xxx	xxx	xxx	11.18 %
Return on Equity	xxx	xxx	xxx	xxx	xxx	14.14 %
Return on Total Capital	xxx	xxx	xxx	xxx	xxx	13.89 %
Free Cash Flow ex dividends	xxx	xxx	xxx	xxx	xxx	7.5 M

Return on Capital Employed

Negative
Growth
Slowing

Return on Invested Capital

Negative
Growth
Slowing

Return on Assets

Negative
Growth
Slowing

Return on Equity

Negative
Growth
Slowing

Return on Total Capital

Negative
Growth
Slowing

Free Cash Flow ex dividends

Negative
Growth
Slowing

Title	2020	2021	2022	2023	2024	2025
Short-Term Debt	xxx	xxx	xxx	xxx	xxx	1 M
Long Term Debt	xxx	xxx	xxx	xxx	xxx	1 M
Total Debt	xxx	xxx	xxx	xxx	xxx	2 M
Goodwill - Gross	xxx	xxx	xxx	xxx	xxx	4 M
Cash & Equivalents - Generic	xxx	xxx	xxx	xxx	xxx	41 M
Price To Book Value	xxx	xxx	xxx	xxx	xxx	0.73

Short-Term Debt

Negative
Growth
Slowing

Long Term Debt

Negative
Growth
Slowing

Total Debt

Negative
Growth
Slowing

Goodwill - Gross

Negative
Growth
Slowing

Cash & Equivalents - Generic

Negative
Growth
Slowing

Price To Book Value

Negative
Growth
Slowing

Title	2020	2021	2022	2023	2024	2025
Capex	xxx	xxx	xxx	xxx	xxx	0.5 M
Capex % of Sales	xxx	xxx	xxx	xxx	xxx	0.73 %
Cost of Goods Sold	xxx	xxx	xxx	xxx	xxx	34 M
Selling, General & Admin. Exp & Other	xxx	xxx	xxx	xxx	xxx	21 M
Research & Development	xxx	xxx	xxx	xxx	xxx	14 M
Investments - Total	xxx	xxx	xxx	xxx	xxx	0 M

Capex

Negative
Growth
Slowing

Capex % of Sales

Negative
Growth
Slowing

Cost of Goods Sold

Negative
Growth
Slowing

Selling, General & Admin. Exp & Other

Negative
Growth
Slowing

Research & Development

Negative
Growth
Slowing

Investments - Total

Negative
Growth
Slowing

Negative

Growth

Slowing

EXPERT VIEWS
EXTRA COVERAGE

EXPERT VIEWS

Display All Commentary

Sentiment Indicator

1.0

No. Of Recommendations

BROKER	DATE	RATING	RECOMMENDATION	TARGET PRICE	% TO REACH TARGET	COMMENTARY
Bell Potter	27/08/2025	1	Buy	$0.55	50.68%	Bell Potter highlights Integrated Research's FY25revenue and EBITDA were in line with the recently provided guidance. Net profit, however, missed the broker's forecast due to higher tax. The company didn't provide formal guidance in line with past practice but flagged the strong capital position provides capacity for significant investment in new differentiated products & capabilities to establish new revenue streams. Additionally, the company highlighted FY26 renewals is expected to be softer than FY25, prompting the broker to downgrade FY26-27 revenue forecasts. EBITDA forecasts saw more material cuts on higher opex due to spend on developing new products. Buy. Target trimmed to 55c from 70c as higher multiples in valuation was offset by higher risk from increased investments. FORECAST Bell Potter forecasts a full year FY26 dividend of 2.00 cents and EPS of 5.60 cents. Bell Potter forecasts a full year FY27 dividend of 2.50 cents and EPS of 5.80 cents.

BROKER

DATE

RATING

RECOMMENDATION

TARGET PRICE

% TO REACH TARGET

COMMENTARY

Bell Potter

27/08/2025

Buy

$0.55

50.68%

Bell Potter highlights Integrated Research's FY25revenue and EBITDA were in line with the recently provided guidance. Net profit, however, missed the broker's forecast due to higher tax.

The company didn't provide formal guidance in line with past practice but flagged the strong capital position provides capacity for significant investment in new differentiated products & capabilities to establish new revenue streams.

Additionally, the company highlighted FY26 renewals is expected to be softer than FY25, prompting the broker to downgrade FY26-27 revenue forecasts. EBITDA forecasts saw more material cuts on higher opex due to spend on developing new products.

Buy. Target trimmed to 55c from 70c as higher multiples in valuation was offset by higher risk from increased investments.

FORECAST
Bell Potter forecasts a full year FY26 dividend of 2.00 cents and EPS of 5.60 cents.
Bell Potter forecasts a full year FY27 dividend of 2.50 cents and EPS of 5.80 cents.

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EXTRA COVERAGE

Display All Commentary

No. Of Recommendations

Please note: unlike Broker Call Report, BC Extra is not updated daily. The info you see might not be the latest. FNArena does its best to update ASAP.

BROKER	DATE	RATING	RECOMMENDATION	TARGET PRICE	% TO REACH TARGET	COMMENTARY
No data available in table

Access Extra Coverage Research History >

IRI STOCK CHART

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Dividend Yield Today On Last Actual Payout :	5.41
Estimated Dividend Growth (Average Of Past Three Years)	%
Amount Invested	$
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INTEGRATED RESEARCH LIMITED (IRI)
Share Price Analysis and Chart