Morningstar

IRESS Ltd IRE

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Stock XASX Rating as of
A$5.48 +0.12 (2.24%)
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As of Delayed Price Closed

Company Report

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Price vs Fair Value

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IRE is trading at a LOCK|G^<?>w premium.
Price
A$5.48
Fair Value
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Uncertainty
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1-Star Price
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5-Star Price
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Economic Moat
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Capital Allocation
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Bulls Say, Bears Say

Bulls

Iress’ economic moat, leading market share, and renewed focus on its higher-returning assets should protect margins and enable strong EPS growth over the medium term.

Bears

Iress’ trading and market data business faces the threats of active managers ceding share to passive investments and stockbrokers transitioning toward wealth management business models.

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Trading Information

Previous Close Price
A$5.36
Day Range
A$5.37–5.53
52-Week Range
A$5.04–10.38
Bid/Ask
A$5.39 / A$5.68
Shares Outstanding
186.79M
Market Cap
A$1.02B
Volume/Avg
492,588 / 1M

Key Statistics

Price/Earnings (Normalized)
12.33
Price/Sales
2.06
Dividend Yield (Trailing)
4.93%
Dividend Yield (Forward)
4.93%
Dividend Payment Schedule
Apr, Sep
Total Yield
5.13%

Company Profile

Iress develops software for the financial-services industry, operating in multiple regions and servicing clients ranging from small retail to large institutional businesses. Its core business unit, mainly in Australia, generates most of the company's earnings and free cash flows. Iress expanded into noncore markets through acquisitions, ultimately eroding returns and margins, with free cash flows from the core business invested in the noncore businesses. Its recent strategy includes reprioritizing growth in the core Trading and Market Data and Wealth businesses, and divesting/monetizing noncore assets. We view this renewed focus on its core business as a positive, as it will help maintain Iress' economic moat.
Sector
Technology
Industry
Software - Application
Stock Style Box
Small Core
Total Number of Employees
1,422
Website
https://www.iress.com

Competitors

Valuation

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Metric
IRE
LSEG
MSCI
Price/Earnings (Normalized)
 12.3318.2329.29
Price/Book Value
 2.352.11—
Price/Sales
 2.064.2912.16
Price/Cash Flow
 12.069.5924.18
Price/Earnings
IRE
LSEG
MSCI

Financial Strength

Metric
IRE
LSEG
MSCI
Quick Ratio
 1.710.010.77
Current Ratio
 1.761.000.89
Interest Coverage
 16.116.597.13
Quick Ratio
IRE
LSEG
MSCI

Profitability

Metric
IRE
LSEG
MSCI
Return on Assets (Normalized)
 11.86%0.32%25.07%
Return on Equity (Normalized)
 19.37%13.33%—
Return on Invested Capital (Normalized)
 13.91%8.39%42.55%
Return on Assets
IRE
LSEG
MSCI

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