IPH Limited reported its full-year 2026 results on August 20, 2026, with underlying net profit after tax and amortization (NPATA) increasing 1.7% year-over-year to AUD 122.7 million. Revenue edged up 0.4% to AUD 712.8 million, despite currency headwinds. The company's shares fell 7.82% to $3.89, reflecting investor concerns about modest top-line growth.
Financial Performance
The company's like-for-like performance significantly outpaced reported figures once currency effects were stripped out. Underlying EBITDA rose 2.9% on a like-for-like basis, while underlying basic earnings per share adjusted for amortization (EPSA) increased 4.2% to 47.2 cents.
Segment Performance
Canada emerged as IPH's largest earnings contributor by geography, accounting for 37% of underlying EBITDA. The Canadian segment delivered the strongest performance, with like-for-like revenue rising 5.8% and underlying EBITDA surging 11.8%. In contrast, the Australia and New Zealand segment experienced challenging conditions, with like-for-like revenue declining 4.2% and underlying EBITDA falling 7.2%.
Cash Generation
Cash generation remained a bright spot, with EBITDA-to-gross operating cash flow conversion reaching 110%, well above the company's 100% target. Free cash flow surged 18.3% year-over-year to AUD 135.9 million, supporting enhanced shareholder returns and balance sheet improvement.
