IPERIONX LIMITED (IPX)
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IPX

IPX - IPERIONX LIMITED

FNArena Sector : Industrial Metals
Year End: June
GICS Industry Group : Materials
Debt/EBITDA: -0.11
Index: ASX200 | ASX300 | ALL-ORDS

LAST PRICE CHANGE +/- CHANGE % VOLUME

$4.10

30 Apr
2026

-0.080

OPEN

$4.08

-1.91%

HIGH

$4.25

1,527,176

LOW

$4.02

TARGET
$8.25 101.2% upside
OTHER COMPANIES IN THE SAME SECTOR
ABR . AIS . CHN . COB . DVP . EQR . JMS . MTM . OMH . WA1 .
FNARENA'S MARKET CONSENSUS FORECASTS
IPX: 1
Title FY24
Actual		 FY25
Actual		 FY26
Forecast		 FY27
Forecast
EPS (cps) xxx - 18.4 - 19.3 xxx
DPS (cps) xxx 0.0 0.0 xxx
EPS Growth xxx N/A N/A xxx
DPS Growth xxx N/A N/A xxx
PE Ratio xxx N/A N/A xxx
Dividend Yield xxx N/A 0.0% xxx
Div Pay Ratio(%) xxx N/A N/A xxx

Dividend yield today if purchased 3 years ago: 0.00%

DIVIDEND YIELD CALCULATOR

Dividend Yield Today On Last Actual Payout :

 0.00

Estimated Dividend Growth
(Average Of Past Three Years)

Amount Invested

 $ 

Tell Me The Dividend After This Many Years
Past performance is no guarantee for the future. Investors should take into account that heavy swings in share price or exceptional circumstances (a la 2009) can have a significant impact on short term calculations and averages

Last ex-div: 18/11 - (franking Ex-Div. 3c)

HISTORICAL DATA ARE ALL IN AUD
Copyright © 2026 FactSet UK Limited. All rights reserved
Title 202020212022202320242025
EPS Basic xxxxxxxxxxxxxxx-18.4
DPS All xxxxxxxxxxxxxxx0.0
Sales/Revenue xxxxxxxxxxxxxxx0.0 M
Book Value Per Share xxxxxxxxxxxxxxx44.1
Net Operating Cash Flow xxxxxxxxxxxxxxx-33.7 M
Net Profit Margin xxxxxxxxxxxxxxx-

EPS Basic

DPS All

Sales/Revenue

Book Value Per Share

Net Operating Cash Flow

Net Profit Margin

Title 202020212022202320242025
Return on Capital Employed xxxxxxxxxxxxxxx-50.09 %
Return on Invested Capital xxxxxxxxxxxxxxx-48.56 %
Return on Assets xxxxxxxxxxxxxxx-44.87 %
Return on Equity xxxxxxxxxxxxxxx-50.09 %
Return on Total Capital xxxxxxxxxxxxxxx-53.62 %
Free Cash Flow ex dividends xxxxxxxxxxxxxxx-59.8 M

Return on Capital Employed

Return on Invested Capital

Return on Assets

Return on Equity

Return on Total Capital

Free Cash Flow ex dividends

Title 202020212022202320242025
Short-Term Debt xxxxxxxxxxxxxxx1 M
Long Term Debt xxxxxxxxxxxxxxx5 M
Total Debt xxxxxxxxxxxxxxx6 M
Goodwill - Gross xxxxxxxxxxxxxxx-
Cash & Equivalents - Generic xxxxxxxxxxxxxxx84 M
Price To Book Value xxxxxxxxxxxxxxx10.77

Short-Term Debt

Long Term Debt

Total Debt

Goodwill - Gross

Cash & Equivalents - Generic

Price To Book Value

Title 202020212022202320242025
Capex xxxxxxxxxxxxxxx37.5 M
Capex % of Sales xxxxxxxxxxxxxxx-
Cost of Goods Sold xxxxxxxxxxxxxxx4 M
Selling, General & Admin. Exp & Other xxxxxxxxxxxxxxx57 M
Research & Development xxxxxxxxxxxxxxx16 M
Investments - Total xxxxxxxxxxxxxxx0 M

Capex

Capex % of Sales

Cost of Goods Sold

Selling, General & Admin. Exp & Other

Research & Development

Investments - Total

EXPERT VIEWS
Display All Commentary

Sentiment Indicator

1.0

No. Of Recommendations

1
BROKER DATE RATING RECOMMENDATION TARGET PRICE % TO REACH TARGET COMMENTARY

Bell Potter

28/04/2026

1

Speculative Buy

$8.25

101.22%

As Bell Potter explains, IperionX transitioned to 24/7 operations from commissioning activities over the March quarter at its US titanium manufacturing campus and averaged around 50tpa by March, with 200tpa aimed for by the end of 2026.

Notably, the -US$75m expansion to 1,400tpa which has been essentially funded by the US Dept of War will come on stream in 2027.

At the end of the 3Q26, cash on hand was US$48.2m, down from US$468.5m in the prior quarter with no debt.

As capacity expands, the analyst flags increasing commercial tie ups with aerospace, auto, luxury goods and government customers.

Target price is lowered to $8.25 from $49.25 due to a higher risk profile assumed ahead of commercial contracts.

No change to Speculative Buy rating.

FORECAST
Bell Potter forecasts a full year FY26 dividend of 0.00 cents and EPS of minus -19.30 cents.
Bell Potter forecasts a full year FY27 dividend of 0.00 cents and EPS of minus -6.30 cents.
Access Stockbroker Research History >
EXTRA COVERAGE
Display All Commentary

No. Of Recommendations

0

Please note: unlike Broker Call Report, BC Extra is not updated daily. The info you see might not be the latest. FNArena does its best to update ASAP.

BROKER DATE RATING RECOMMENDATION TARGET PRICE % TO REACH TARGET COMMENTARY
Access Extra Coverage Research History >

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