One-glance verdict
Undervalued
$95.89 our estimate vs market $55.32
Wall Street consensus: $46.50 (-51.5% lower than our fair-value estimate)
42% below our estimate, below the bear case
Fundamentals snapshot
IBEX Limited
IBEX · NGM · Technology · Information Technology Services
Current price
$55.32
52-week range
$25.94 - $55.77
Market cap
$738.20M
Balance sheet
Healthy
58.72x Strong cushion
Net debt $27.13M. Interest coverage shows how many times profit covers the interest bill.
What stands out
3 Rewards
3 Risks
3 rewards · 3 risks
- Reward Revenue grew 3.7% last year.
- Reward Returns 30.2% on equity, ahead of 80% of its peers.
- Risk Stock trades 54.0% above its 5-year average P/E.
- Risk Net debt grew 39.1% over 3 years.
What this company does
IBEX Limited
IBEX Limited helps other companies manage their customer interactions, like handling customer service calls or using digital tools to find new customers, primarily in the US. Their money mainly comes from providing these services, which is important because it shows how well they are managing their costs relative to the money they bring in.
How the company got here
IBEX Limited, originally known as IBEX Holdings Limited, was incorporated in 2017 and changed its name in September 2019. It has established itself as a provider of customer experience solutions. The company's journey has been focused on building a comprehensive suite of services that help other businesses manage their customer interactions from start to finish.
What it actually does
IBEX Limited helps other companies manage how they interact with their customers throughout the entire relationship. This includes everything from attracting new customers to providing ongoing support and technical assistance. They use a mix of technology and human agents to handle customer inquiries across various channels like phone, email, chat, and social media.
ibex Connect
This is IBEX's core offering for managing customer service and support. It's like a digital call center that handles customer inquiries through phone calls, emails, live chat on websites, and even social media messages. The goal is to resolve customer issues, provide technical help, and ensure customers have a positive experience, which can also lead to opportunities to sell more products or services.
ibex Digital
This part of IBEX focuses on helping businesses find and acquire new customers. It involves using digital marketing strategies, setting up and managing online stores (e-commerce), and providing the technology platforms needed to sell products online. Essentially, it's about using the internet to bring new buyers to their clients' businesses.
Wave iX
Wave iX is IBEX's own artificial intelligence (AI) platform designed to enhance customer experiences. This technology helps automate certain customer interactions, analyze customer data to understand needs better, and provide more personalized support. It's about using smart technology to make customer service more efficient and effective for their clients.
What management is betting on now
IBEX is focusing on integrating its various services to offer a complete customer lifecycle solution. They are emphasizing the use of AI through their Wave iX platform to improve efficiency and customer satisfaction. By combining digital customer acquisition with robust customer support and leveraging advanced technology, IBEX aims to be a one-stop shop for businesses looking to manage and grow their customer relationships.
Price history
How the share price has moved
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Earnings history
Last 8 quarters — what happened
Click any quarter to read the call summary and what the numbers say.
FY2025 Q2
$-3.18M
FY2025 Q3
$3.56M
FY2025 Q4
$22.78M
FY2026 Q1
$8.03M
FY2026 Q2
$-5.09M
FY2026 Q3
$6.59M
FY2026 Q4
$21.66M
FY2027 Q1
$9.16M
Revenue
$175.22M
Net income
$14.78M
Diluted EPS
0.99
Operating cash flow
$16.33M
Free cash flow
$9.16M
Fetching…
Sources
Revenue
$164.27M
Net income
$8.75M
Diluted EPS
0.59
Operating cash flow
$24.82M
Free cash flow
$21.66M
Fetching…
Sources
Revenue
$164.41M
Net income
$13.32M
Diluted EPS
0.89
Operating cash flow
$11.86M
Free cash flow
$6.59M
Fetching…
Sources
Revenue
$164.22M
Net income
$12.22M
Diluted EPS
0.83
Operating cash flow
$6.64M
Free cash flow
$-5.09M
Fetching…
Sources
Revenue
$151.18M
Net income
$12.04M
Diluted EPS
0.82
Operating cash flow
$15.67M
Free cash flow
$8.03M
Fetching…
Sources
Revenue
$147.14M
Net income
$9.60M
Diluted EPS
0.63
Operating cash flow
$27.94M
Free cash flow
$22.78M
Fetching…
Sources
Revenue
$140.74M
Net income
$10.47M
Diluted EPS
0.73
Operating cash flow
$8.83M
Free cash flow
$3.56M
Fetching…
Sources
Revenue
$140.68M
Net income
$9.27M
Diluted EPS
0.57
Operating cash flow
$1.14M
Free cash flow
$-3.18M
Fetching…
Sources
Is it cheap or expensive?
Fair value $95.89 vs current price $55.32
Wall Street consensus is the average analyst price target: $46.50 (-51.5% lower than our fair-value estimate).
Our most-likely fair value is $95.89 a share — about 73.3% above today's price of $55.32, so the stock currently looks cheap (undervalued).
Is it drowning in debt?
Healthy
Net debt $27.1M. Interest coverage 58.7x.
Net debt
$27.13M
Interest coverage
58.72x
IBEX Limited's profit covers its interest bill about 58.7 times over. which is stronger than every peer shown here and 1 peers sit below 1x, which is the danger zone where profit does not fully cover the interest bill.
Healthy
Worse cushion
Baseline
Better cushion
IBEX
BASELINE
IBEX Limited
Total debt $63.83M Interest coverage 58.72x This is the baseline the peer rows are being compared against.
Total debt $542.06M Interest coverage 7.68x -87% vs IBEX Carries about 7.6x less debt cushion than IBEX.
Total debt $5.28B Interest coverage 2.10x -96% vs IBEX Carries about 28.0x less debt cushion than IBEX.
Total debt $1.03B Interest coverage -1.21x -100% vs IBEX This peer has almost no interest-payment cushion compared with IBEX.
Total debt $900.43M Interest coverage 1.34x -98% vs IBEX Carries about 43.8x less debt cushion than IBEX.
What you should know
The case for and against IBEX
3 Rewards
3 Risks
Rewards
-
Revenue grew 3.7% last year.
-
Returns 30.2% on equity, ahead of 80% of its peers.
-
Free cash flow was positive in 5/10 years.
Risks
-
Stock trades 54.0% above its 5-year average P/E.
-
Net debt grew 39.1% over 3 years.
-
Insider ownership is only 4.1% (peer median: 19.3%).
The numbers
All the key metrics, grouped by purpose
Tap any ? icon to learn what it means.
Valuation
How expensive the stock looks
P/E (TTM)
16.76x
Forward P/E
12.63x
P/B
4.06x
P/S
1.10x
EV/EBITDA
9.30x
PEG ratio
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Profitability
How much profit each dollar creates
Gross margin
29.6%
Operating margin
9.3%
Net margin
7.3%
ROE
30.2%
ROA
12.5%
Health
Liquidity and balance-sheet strength
Debt / equity
0.35x
Current ratio
2.03x
Quick ratio
1.79x
Total debt
$63.83M
Total cash
$36.70M
Growth
How the business has been compounding
Revenue TTM
$668.12M
Revenue 5Y CAGR
6.9%
EPS TTM
3.30
EPS 5Y CAGR
23.3%
Cash flow
How much cash the business throws off
Operating CF TTM
$59.66M
Free CF TTM
$31.19M
FCF margin
4.7%
Dividend
Shareholder payout
Yield
0.0%
Payout ratio
0.0%
Last ex-div date
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