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Objective Corporation Limited
(Sydney:OCL)
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Rating:71Outperform
Price Target:
AU$6.50
▼(-16.34% Downside)
Action:Reiterated
Date:08/28/26
The score is driven primarily by strong financial performance (accelerating growth, high margins, strong ROE, and low leverage). This is partially offset by weak technicals (price below key moving averages and negative MACD), while valuation is moderately supportive due to a reasonable P/E and an attractive dividend yield.
Positive Factors
Recurring Software Revenue
The combination of software access fees and ongoing support revenue can provide a durable recurring base, while implementation and expansion work create additional customer value. This model supports retention, visibility, and monetisation as organisations deepen their use of the platforms.
Negative Factors
Recent Margin Compression
Recent margin deterioration means strong revenue growth is not translating into proportionally stronger profitability in the latest period. If the pressure persists, it could reduce earnings growth, constrain reinvestment capacity, and weaken the operating leverage expected from a software business.
Read all positive and negative factors
Positive Factors
Negative Factors
Recurring Software Revenue
The combination of software access fees and ongoing support revenue can provide a durable recurring base, while implementation and expansion work create additional customer value. This model supports retention, visibility, and monetisation as organisations deepen their use of the platforms.
Read all positive factors
Objective Corporation Limited (OCL) vs. iShares MSCI Australia ETF (EWA)
Market Cap
AU$640.73M
Dividend Yield3.88%
Average Volume (3M)179.58K
Price to Earnings (P/E)17.2
Beta (1Y)0.62
Revenue Growth6.59%
EPS Growth4.49%
CountryAU
Employees400
SectorTechnology
Sector Strength88
IndustrySoftware - Application
Share Statistics
EPS (TTM)0.39
Shares Outstanding95,631,454
10 Day Avg. Volume151,394
30 Day Avg. Volume179,583
Financial Highlights & Ratios
PEG Ratio4.89
Price to Book (P/B)9.00
Price to Sales (P/S)7.48
P/FCF Ratio20.20
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
AU$9.40Price Target Upside20.98% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering6
EPS Forecast (FY)0.28
Revenue Forecast (FY)AU$125.23M
Objective Corporation Limited Business Overview & Revenue Model
Company Description
Objective Corporation Limited, operating with its various subsidiaries, delivers a comprehensive array of information technology software and associated services to clients internationally, with a significant presence in Australia, the United King...
How the Company Makes Money
OCL makes money primarily by licensing its enterprise software to customers and charging ongoing fees to support, maintain, and update those deployments. The company’s revenue model typically includes: (1) software subscription and/or licensing fe...
Objective Corporation Limited Financial Statement Overview
Summary
Income Statement
86
Very Positive
Balance Sheet
90
Very Positive
Cash Flow
78
Positive
| Breakdown | Jun 2026 | Jun 2025 | Jun 2024 | Jun 2023 | Jun 2022 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 131.64M | 123.50M | 114.80M | 108.92M | 106.37M |
| Gross Profit | 115.28M | 116.31M | 107.21M | 101.72M | 100.75M |
| EBITDA | 50.63M | 48.06M | 44.37M | 27.41M | 29.38M |
| Net Income | 37.19M | 35.44M | 31.33M | 21.09M | 19.56M |
Balance Sheet | |||||
| Total Assets | 198.29M | 193.96M | 172.90M | 159.99M | 140.44M |
| Cash, Cash Equivalents and Short-Term Investments | 92.70M | 99.16M | 95.98M | 72.52M | 63.79M |
| Total Debt | 9.62M | 11.44M | 14.11M | 15.92M | 9.22M |
| Total Liabilities | 88.82M | 87.77M | 80.60M | 86.44M | 78.49M |
| Stockholders Equity | 109.47M | 106.19M | 92.30M | 73.55M | 61.96M |
Cash Flow | |||||
| Free Cash Flow | 48.75M | 45.67M | 40.69M | 22.86M | 29.33M |
| Operating Cash Flow | 49.33M | 46.26M | 55.78M | 23.43M | 30.54M |
| Investing Cash Flow | -21.01M | -16.35M | -15.18M | -757.00K | -4.69M |
| Financing Cash Flow | -34.26M | -26.18M | -17.16M | -14.10M | -10.42M |
Objective Corporation Limited Technical Analysis
Neutral
7.77
Price Trends
6.16
Positive
6.99
Negative
9.58
Negative
Market Momentum
0.12
Negative
67.19
Neutral
93.91
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For AU:OCL, the sentiment is Neutral. The current price of 7.77 is above the 20-day moving average (MA) of 5.99, above the 50-day MA of 6.16, and below the 200-day MA of 9.58, indicating a neutral trend. The MACD of 0.12 indicates Negative momentum. The RSI at 67.19 is Neutral, neither overbought nor oversold. The STOCH value of 93.91 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for AU:OCL.
Objective Corporation Limited Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
72 Outperform | AU$659.03M | 77.91 | 3.28% | ― | 8.33% | ― | |
71 Outperform | AU$640.73M | 17.18 | 33.67% | 3.88% | 6.59% | 4.49% | |
71 Outperform | AU$735.76M | 15.00 | 12.46% | 2.78% | -1.53% | 10.09% | |
70 Outperform | AU$10.61B | 75.93 | 32.19% | 1.17% | 14.48% | 6.31% | |
70 Outperform | AU$659.60M | 38.70 | 5.34% | ― | 18.83% | ― | |
69 Neutral | AU$446.68M | 55.19 | 11.93% | 0.49% | 13.82% | 37.23% | |
61 Neutral | $37.18B | 12.37 | -10.20% | 1.83% | 8.50% | -7.62% |
* Technology Sector Average
AU:OCL
Objective Corporation Limited
6.70
-10.47
-60.98%
AU:HSN
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32.41
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14.07
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AU:FCL
FINEOS Corporation Holdings Plc Shs Chess Depositary Interests Repr 1 Sh
1.91
-1.10
-36.54%
Objective Corporation Limited Corporate Events
Objective Corporation Issues 550,000 Unquoted Employee Options
Oct 20, 2026
Objective Corporation Limited has issued 550,000 unquoted options under its employee equity plan, as notified in a recent Appendix 3G filing with the ASX. The options, which are not intended to be quoted on the exchange, form part of the company&#...
Objective Corporation issues new unquoted employee incentive rights
Oct 20, 2026
Objective Corporation Limited has issued 18,150 unquoted rights under its employee incentive scheme, as notified in an Appendix 3G lodged with the ASX on 20 October 2026. The rights, recorded under the code OCLAAB and issued on 14 October, are not...
Objective Corporation Issues Daily Update on Ongoing Share Buy-Back
Oct 5, 2026
Objective Corporation Limited has provided an updated notification to the ASX regarding its ongoing on-market share buy-back of ordinary fully paid shares under code OCL. The company is reporting daily progress under a buy-back that was initially ...
Objective Corporation Updates On-Market Share Buy-Back Activity
Oct 1, 2026
Objective Corporation Limited has provided an updated notification to the ASX regarding its ongoing on-market share buy-back program for its ordinary fully paid shares. The update, dated 2 October 2026, reports that a total of 1,148,698 shares had...
Objective Corporation Updates Daily On-Market Share Buy-Back Activity
Sep 29, 2026
Objective Corporation Limited has reported a daily update to its on-market share buy-back program for its ordinary fully paid shares. The notification, dated 30 September 2026, confirms that the company bought back 8,828 shares on the previous day...
Objective Corporation Advances Daily On-Market Share Buy-Back
Sep 28, 2026
Objective Corporation Limited has continued executing its on-market share buy-back program, focused on its ordinary fully paid shares listed under ASX code OCL. The company is actively reducing its share count through daily purchases, indicating o...
Objective Corporation updates market on ongoing on‑market share buy‑back
Sep 27, 2026
Objective Corporation Limited, listed on the ASX under code OCL, is conducting an on-market buy-back of its ordinary fully paid shares as part of its capital management strategy. The program reflects the company’s approach to optimising its ...
Objective Corporation Updates Daily On-Market Share Buy-Back
Sep 24, 2026
Objective Corporation Limited, an ASX-listed technology company with ordinary fully paid shares under the ticker OCL, operates in the enterprise software sector and serves a broad base of commercial and public stakeholders. Its positioning in the ...
Objective Corporation Updates Daily On-Market Share Buy-Back
Sep 7, 2026
Objective Corporation Limited is an ASX-listed company trading under the ticker OCL, with ordinary fully paid shares as its primary listed security. The company participates in standard capital management practices common to listed entities on the...
Objective Corporation updates daily on-market share buy-back
Sep 6, 2026
Objective Corporation Limited, listed on the ASX under code OCL, is engaged in issuing ordinary fully paid shares and operates within the broader technology and software sector. This disclosure centers on the firm’s share capital management ...
S&P Dow Jones Sets September Rebalance for S&P/ASX Indices
Sep 4, 2026
SP Dow Jones Indices has announced the September 2026 quarterly rebalance of the SP/ASX equity benchmarks, reshuffling constituents across the 50, 100, 200 and 300 indices while leaving the blue-chip SP/ASX 20 unchanged.The changes, effective befo...
Objective Corporation Updates Daily On‑Market Share Buy‑Back Figures
Sep 3, 2026
Objective Corporation Limited has disclosed an update to its on‑market share buy‑back program for its ordinary fully paid shares. The company reported that a cumulative total of 855,298 shares had been repurchased before the previous t...
Objective Corporation Updates ASX on Progress of On-Market Share Buy-Back
Sep 2, 2026
Objective Corporation Limited has continued its on-market share buy-back program, targeting its ordinary fully paid shares listed under ASX code OCL. The company disclosed updated figures as at 3 September 2026, reflecting ongoing execution of the...
Objective Corporation updates market on ongoing share buy‑back
Sep 1, 2026
Objective Corporation Limited, listed on the ASX under ticker OCL, operates in the technology sector and has ordinary fully paid shares on issue. As a public company, it utilises capital management tools such as on‑market buy‑backs to ...
Objective Corporation reports daily progress on ongoing share buy-back
Aug 31, 2026
Objective Corporation Limited, an ASX-listed technology company trading under the ticker OCL, issues ordinary fully paid shares and adheres to Australian corporate and market reporting requirements for its securities. Its operations are aligned wi...
Objective Corporation Reports Ongoing On-Market Share Buy-Back Activity
Aug 31, 2026
Objective Corporation Limited has continued its on-market share buy-back program for its ordinary fully paid shares, as disclosed in an updated Appendix 3C filing to the ASX dated 31 August 2026. The announcement notes that a total of 586,963 shar...
Objective Corporation Highlights FY2026 Results and GovTech Focus
Aug 27, 2026
Objective Corporation Limited has released an investor presentation outlining its financial results for FY2026. The company positions itself as an outstanding GovTech provider, emphasizing its role in driving stronger communities and nations throu...
Objective Corporation Declares Final Dividend for FY2026
Aug 27, 2026
Objective Corporation Limited has announced a dividend of AUD 0.08 per ordinary fully paid share, relating to the 12-month period ended 30 June 2026. The ex-dividend date is set for 2 September 2026, with a record date of 3 September and payment s...
Objective Corporation Delivers Higher Revenue and Profit, Lifts Dividend Payout
Aug 27, 2026
Objective Corporation Limited reported a 9% rise in revenue from ordinary activities to $134.7 million for the year ended 30 June 2026, with net profit attributable to shareholders up 5% to $37.2 million. Basic earnings per share increased to 38.9...
Objective Corporation sets date for FY2026 results and investor webcast
Aug 3, 2026
Objective Corporation has announced that it will release its financial results for the 2026 financial year on 27 August 2026, with founder and chief executive Tony Walls and chief financial officer Ben Tregoning scheduled to present the numbers vi...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.