Technology One: Taking SaaS to the next level

About the author:

Nick Harris
Author name:
By Nick Harris
Job title:
Senior Analyst
Date posted:
24 May 2023, 7:00 AM
Sectors Covered:
Telecommunications, Technology

  • Technology One (ASX:TNE) delivered a solid 1H23 result that was inline with our forecasts. PBT was up 21% YoY, the dividend up 10% YoY and operating cashflow improved YoY. As expected cashflow is seasonally weak in 1H so we expect TNE to deliver 98% of their full year FCF in 2H23.
  • FY23 guidance is for 10-15% profit growth, as expected. Overall this was a good result from TNE that was inline with our and consensus expectations.
  • We make immaterial forecast adjustments and retain our Hold recommendation. Our Target Price increases to (login to view) predominately on a peer multiple refresh.

Find out more

Download full research note

If you would like more information, please contact your adviser or nearest Morgans office. 

Request a call Find local branch

Disclaimer: The information contained in this report is provided to you by Morgans Financial Limited as general advice only, and is made without consideration of an individual's relevant personal circumstances. Morgans Financial Limited ABN 49 010 669 726, its related bodies corporate, directors and officers, employees, authorised representatives and agents (“Morgans”) do not accept any liability for any loss or damage arising from or in connection with any action taken or not taken on the basis of information contained in this report, or for any errors or omissions contained within. It is recommended that any persons who wish to act upon this report consult with their Morgans investment adviser before doing so.

  • Print this page
  • Copy Link