Obermatt

Technology One

ASX:TNE · AU000000TNE8
SoftwareSmall

360

55
EV / EBIT6
Price / Owner Earnings11
Owner Earnings Yield43
Dividend Yield55
Price/Sales3
EV / Gross Profit17
Price/Book3
Return on Capital97
Cash Return on Capital84
Return on Equity84
EBIT Margin86
Gross Profitability73
Cash Conversion61
Accruals18
Owner Earnings Margin83
Sales growth81
Profit Growth49
Long-Term EPS Growth62
Owner Earnings Growth58
Reinvestment58
Price momentum34
Debt load56
Refinancing41
Debt Payback100
Liquidity71
Analyst ratings50
Opinion Changes84
Price Target Upside4
Market mood89
Value Creation14/20strong value creator
  • Creates more value than its capital costs
  • Owner earnings growing
  • Owner earnings per share growing
  • Reinvests at strong returns
  • Solid earnings base

What this means

Technology One generates returns well above its cost of capital, the foundation of durable shareholder value.

Profile

CountryAustralia
IndustrySoftware
SizeSmall
TypePublic Company
ExchangeASX
Founded1983
Employees1,432
ISINAU000000TNE8
Last UpdateApr 2, 2026
Themes
Machine LearningProcess AutomationHRTechCustomer Relationship ManagementSoftware DevelopmentGovTechEdTechArtificial IntelligenceWorkTechCRMEnterprise SoftwareInformation TechnologyInfrastructureSoftware

Description

Technology One Limited engages in the development, marketing, sale, implementation, and support of integrated enterprise business software solutions in Australia and internationally. The company operates through Software and Consulting segments. It o…

Analysis

Beloved champion

Technology One Limited is a beloved champion: its quality is genuine, and the market already prices it as exceptional. One caution: reported profits have recently run ahead of actual cash, which we track closely.

The price is expensive. You pay 73.3× its owner earnings: the cash an owner could take out each year, which is in the historically expensive zone. At today's price, the market is assuming roughly 24% yearly growth; analysts expect 16%. The gap between price and consensus is worth watching: demanding expectations.

The trajectory is moderate and the balance sheet is sturdy. The company scores 14/20 on our value-creation score: strong value creator. Analyst sentiment is cautious.

What to watch: Reported profits have run ahead of actual cash for several periods. As always: this describes the company's numbers; it is not a recommendation.

360° rank · history

1007550250
67
2023202420252026

All-time high

67

Jun 2026

All-time low

18

Jan 2023

Average rank

40

across all years

Detailed & Historical Ranks

Deep dive into 15 detailed ranks and 3 years of history.

Current202520242023
Price/Sales
3
5
11
23
Price/Earnings
12
15
24
21
Price/Book
3
3
12
13
Dividend Yield
55
62
60
61
Value (overall)
10
19
26
26

Cells are coloured by rank band (red weak → green strong). Sentiment & 360° history begins 2023.

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Make Sense of the Ranks

Every rank runs 1–100 against true peers. Higher is always better.

360° View
1 · Watch OutGood· 100
Value
1 · ExpensiveGood Value· 100
Quality
1 · Weak FundamentalsHigh Quality· 100
Growth
1 · Tough TimesHigh Growth· 100
Safety
1 · High LeverageWell-Financed· 100
Sentiment
1 · SkepticismPositive· 100
Learn More →