Integrated Research Ltd (IRI) Fair Value & Analysis
Technology · AU · Market cap A$53.3M (≈ $38.2M) · ISIN AU000000IRI3
Strengths
Risks
Fair value as of: Aug 14, 2026
From 26 valuation models · updated 16 days ago
Fair value updated Aug 14, 2026, revised from A$0.9800 to A$0.9900 (+1.0%) since Jul 16, 2026. Share price +15.3% over the past month.
A solid business, trading 66% below our fair value.
What runs behind every stock
69 individual criteria per stock, every one traceable See the method →
What matters now
- The price is below even our cautious bear case (A$0.7100). The market is more pessimistic than our downside scenario.
- Solid quality (62/100) at a price below fair value, the discount is the argument here, not the business quality.
- A fairly wide model range (A$0.7100 to A$1.34) leaves room in how you read the outcome.
Price vs Fair Value (5 years)
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 14, 2026.
How to read this chart
60‑month range A$0.2700 – A$1.97 · fair‑value band A$0.7100 – A$1.34 · the A$0.3400 price screens below the A$0.9900 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Aug 14, 2026.
Analysis
Integrated Research Ltd (IRI) currently trades at A$0.3400, while our model-based Fair Value estimate is A$0.9900, implying the stock looks roughly 191.2% undervalued today. The Quality Score stands at 62/100 (solid quality), in the Technology sector. Bull case: trading below our estimate, it may offer upside if the fundamentals hold. Bear case: a low price can be a value trap when quality is weak or the data is thin (evidence: high), always confirm before acting.
Over the trailing twelve months, Integrated Research Ltd generated revenue of A$67.8M at a net margin of 10.7%. Revenue declined 1.7% year over year. It earns a return on equity of 7.7%. The balance sheet holds a net cash position of A$38.7M. Fundamentals as of Aug 14, 2026
Our scenario range runs from A$0.7100 (bear case) to A$1.34 (bull case); at A$0.3400, the current price sits below that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 30% below its 52-week high and 26% above its 52-week low, currently above its 200-day average. For context, the median of 10 Technology peers we cover trades at -38% fair-value upside, at 191%, IRI screens cheaper than that median.
Fair Value models
Each model estimates fair value its own way; the Fair Value above is the evidence-weighted blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small.
All 26 models by family
Widest divergence: Growth Earnings (A$1.71) versus Dividend Discount (A$0.1900). Highest evidence: Growth DCF (80).
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Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Aug 14, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 67 · Market factors (momentum, volatility) 29
Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.
All values are scores from 0 to 100 (100 = best against fixed, research-based bands), not percentages. The three market factors (momentum, 52-week proximity, low volatility) are displayed but carry zero weight in the headline number: market sentiment is not a business property.
About the company
Integrated Research Limited designs, develops, implements, and sells software for business-critical computing, unified communication, and payment networks.
Full company description
Integrated Research Limited designs, develops, implements, and sells software for business-critical computing, unified communication, and payment networks. The company offers Prognosis, an integrated suite of monitoring and management software designed to give an organization's management and technical personnel operational insight into the HP NonStop platform, distributed system servers, unified communications, payment environments, and business applications. It also provides licensing, testing, maintenance, and professional services, as well as software-as-a-service solutions. In addition, it offers enterprise UC, contact centers, customer experience testing, and collaboration space management services, as well as high-value payments, card payments, and real-time payments-related products and services. It serves banks, credit card companies, telecommunications carriers, technology companies, service providers, and manufacturers. Integrated Research Limited was incorporated in 1988 and is based in Sydney, Australia.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
Integrated Research Ltd reported revenue of A$68.3M in FY2025 versus A$78.5M in FY2021, a compound −3.4%/yr. Reported net income was A$13.4M in FY2025, compounding +13.9%/yr from FY2021.
of which total revenue +0.9 pp · buybacks/dilution −0.5 pp
Absolute contributions in percentage points per year; they sum to the EPS growth rate. Start and end points are 3-year averages (details on hover).
Watch IRI: get an alert when its fair value changes →
Peer Group
Software - Application · 729 stocks
How this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.
Valuation Multiples vs Software - Application median · lower = cheaper
Snowflake
Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.
Insider activity: 30/100
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
Similar stocks
10 more Software - Application stocks, each showing price versus our Fair Value estimate (as of Aug 14, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| SAP SE SAP | €191.32 | €169.59 | -11% |
| Shopify Inc SHOP | C$209.78 | C$28.76 | -86% |
| Uber Technologies, Inc UBER | $78.49 | $43.66 | -44% |
| Salesforce, Inc CRM | $252.05 | $249.28 | -1% |
| ServiceNow, Inc NOW | $138.43 | $43.73 | -68% |
| Cadence Design Systems, Inc CDNS | $334.68 | $112.57 | -66% |
| Snowflake Inc SNOW | $329.11 | $42.27 | -87% |
| Adobe Inc ADBE | $289.15 | $454.04 | +57% |
| Automatic Data Processing, Inc ADP | $284.68 | $177.51 | -38% |
| Intuit Inc INTU | $348.00 | $363.46 | +4% |
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How we calculate Fair Value
Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.
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