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Technology One Limited
(Sydney:TNE)
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Rating:70Outperform
Price Target:
AU$32.00
▲(3.80% Upside)
Action:Upgraded
Date:08/06/26
The score is primarily driven by strong financial performance (healthy growth, high margins, low leverage and strong ROE). Technicals are supportive due to an uptrend and positive MACD, but overbought signals add near-term risk. The biggest constraint is valuation, with a very high P/E and only a modest dividend yield.
Positive Factors
Strong profitability
Technology One’s high gross, EBIT, EBITDA and net margins indicate an efficient enterprise software model with substantial operating profitability. These margins provide capacity to fund product development, cloud delivery and customer support while helping preserve earnings resilience over the next several quarters.
Negative Factors
Free cash flow decline
The decline in free cash flow growth is a potential constraint on internally funded expansion and shareholder returns. Even with adequate conversion from net income, weaker cash-flow momentum could reduce flexibility for product investment, acquisitions or other strategic uses over coming periods.
Read all positive and negative factors
Positive Factors
Negative Factors
Strong profitability
Technology One’s high gross, EBIT, EBITDA and net margins indicate an efficient enterprise software model with substantial operating profitability. These margins provide capacity to fund product development, cloud delivery and customer support while helping preserve earnings resilience over the next several quarters.
Read all positive factors
Technology One Limited (TNE) vs. iShares MSCI Australia ETF (EWA)
Market Cap
AU$9.71B
Dividend Yield1.3%
Average Volume (3M)737.22K
Price to Earnings (P/E)67.6
Beta (1Y)1.59
Revenue Growth14.48%
EPS Growth6.31%
CountryAU
Employees1,500
SectorTechnology
Sector Strength88
IndustrySoftware - Application
Share Statistics
EPS (TTM)0.43
Shares Outstanding327,368,530
10 Day Avg. Volume690,955
30 Day Avg. Volume737,220
Financial Highlights & Ratios
PEG Ratio5.49
Price to Book (P/B)27.88
Price to Sales (P/S)21.00
P/FCF Ratio66.79
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
AU$33.00Price Target Upside7.04% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering1
EPS Forecast (FY)0.5
Revenue Forecast (FY)AU$675.86M
Technology One Limited Business Overview & Revenue Model
Company Description
Technology One Limited is a global provider dedicated to the full lifecycle of integrated enterprise business software solutions, from initial research and development through to sales, implementation, and ongoing support. The company operates pri...
How the Company Makes Money
Technology One makes money primarily by licensing and delivering its enterprise software and providing associated services to implement, run and support those systems for customers. Key revenue streams typically include: (1) Subscription / SaaS re...
Technology One Limited Financial Statement Overview
Summary
Income Statement
85
Very Positive
Balance Sheet
80
Positive
Cash Flow
75
Positive
| Breakdown | TTM | Sep 2025 | Sep 2024 | Sep 2023 | Sep 2022 | Sep 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 631.23M | 598.50M | 506.54M | 429.38M | 368.23M | 311.30M |
| Gross Profit | 253.54M | 516.56M | 445.38M | 179.04M | 205.11M | 167.13M |
| EBITDA | 274.71M | 265.85M | 224.29M | 185.48M | 152.27M | 125.17M |
| Net Income | 141.47M | 137.65M | 118.01M | 102.88M | 88.84M | 72.69M |
Balance Sheet | ||||||
| Total Assets | 814.85M | 891.40M | 757.44M | 636.74M | 588.25M | 509.14M |
| Cash, Cash Equivalents and Short-Term Investments | 245.46M | 319.64M | 278.69M | 223.26M | 175.87M | 144.21M |
| Total Debt | 49.45M | 53.38M | 59.67M | 33.16M | 35.30M | 33.39M |
| Total Liabilities | 386.71M | 440.70M | 378.18M | 330.73M | 349.15M | 318.91M |
| Stockholders Equity | 428.13M | 450.70M | 379.26M | 306.01M | 239.10M | 190.23M |
Cash Flow | ||||||
| Free Cash Flow | 302.84M | 188.14M | 120.11M | 103.53M | 75.51M | 62.06M |
| Operating Cash Flow | 305.52M | 294.53M | 212.75M | 193.66M | 142.80M | 114.99M |
| Investing Cash Flow | -182.33M | -150.44M | -291.12M | -115.13M | -67.28M | -63.16M |
| Financing Cash Flow | -149.97M | -103.45M | -64.70M | -56.22M | -43.86M | -32.87M |
Technology One Limited Technical Analysis
Negative
30.83
Price Trends
31.14
Negative
30.37
Negative
28.52
Positive
Market Momentum
-0.34
Positive
33.56
Neutral
5.31
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For AU:TNE, the sentiment is Negative. The current price of 30.83 is below the 20-day moving average (MA) of 32.14, below the 50-day MA of 31.14, and above the 200-day MA of 28.52, indicating a neutral trend. The MACD of -0.34 indicates Positive momentum. The RSI at 33.56 is Neutral, neither overbought nor oversold. The STOCH value of 5.31 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for AU:TNE.
Technology One Limited Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
73 Outperform | AU$1.40B | 12.37 | 107.14% | 4.51% | -9.72% | 51.09% | |
71 Outperform | AU$687.01M | 13.90 | 12.46% | 2.99% | -1.53% | 10.09% | |
71 Outperform | AU$13.01B | 85.03 | 3.68% | ― | 27.32% | -30.84% | |
71 Outperform | AU$610.01M | 15.36 | 33.67% | 4.24% | 6.59% | 4.49% | |
70 Outperform | AU$9.71B | 67.57 | 32.19% | 1.30% | 14.48% | 6.31% | |
61 Neutral | $37.18B | 12.37 | -10.20% | 1.83% | 8.50% | -7.62% | |
51 Neutral | AU$191.52M | -39.24 | -3.57% | ― | 2.61% | 70.72% |
* Technology Sector Average
AU:TNE
Technology One Limited
29.16
-9.08
-23.74%
AU:HSN
Hansen Technologies Limited
3.35
-2.28
-40.46%
AU:XRO
Xero Limited
74.25
-87.09
-53.98%
AU:RDY
ReadyTech Holdings Ltd.
1.55
-0.57
-26.89%
AU:BVS
Bravura Solutions Limited
3.01
1.14
60.88%
AU:OCL
Objective Corporation Limited
6.13
-13.76
-69.18%
Technology One Limited Corporate Events
Technology One issues new shares on conversion of unquoted securities
Sep 1, 2026
Technology One Limited has notified the market of a small issuance of 4,395 ordinary fully paid shares following the exercise or conversion of previously unquoted securities. The new shares, issued on 31 August 2026, reflect the company’s on...
Technology One Employee Trust Completes $31.94 VWAP Share Acquisition for Incentive Plan
Aug 27, 2026
Technology One Limited has confirmed the completion of an on-market share purchase program executed by its Employee Share Trust to support future equity-based remuneration. The trust acquired a total of 1,400,000 ordinary shares in the company, wi...
Technology One Converts Unquoted Securities into 102,571 New Shares
Aug 17, 2026
Technology One Limited has notified the market of the issue of 102,571 new ordinary fully paid shares following the conversion of previously unquoted securities. The new shares, issued on 13 August 2026, reflect the exercise or conversion of optio...
Technology One corrects director share notice date in amended Appendix 3Y
Jul 9, 2026
Technology One Limited has issued an amendment to a previously lodged Appendix 3Y, correcting the recorded date of change for a director’s interest to 8 July 2026. The correction relates to director Philip Davis, whose holdings increased by ...
Technology One Director Increases Shareholding Through On-Market Purchase
Jul 8, 2026
Technology One Limited has reported a change in director Philip Davis’s holding of fully paid ordinary shares in the company, reflecting an increase in his direct equity stake. The disclosure was made in accordance with ASX listing rules gov...
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.