IBEX · sample dossier
IBEX Limited Common Shares
73/100
OutdatedGenerated Sep 5, 2026 · 10:00 AM UTC · 61 days ago
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EquityIBEX Limited Common Shares · XNAS
Decision context
Recommendation
Driven by superior Value (87/100) and Momentum (87/100) scores.
More going for it than against it — worth a closer look.
AlphaDog Fair Value
Executive thesis & key metrics
Executive Thesis
IBEX Limited is a business process outsourcing provider capitalized at $524.45M, trading at an EV/EBITDA of 7.31 and a P/E of 12.32 at a share price of $39.17.
Key Metrics to Watch
What changed recently
No material changes found in the last 30 days.
Why this rating
price $39.17 is above buy-below $36.14
Data through
OutdatedMar 31, 2026
Value 87/100 — P/E 12.3x screens cheap vs inputs.
Re-evaluate if
- Net margin falls below 6.0% (was 7.5%)
- Debt/Equity ratio increases above 0.38.
Trim / reconsider if
- ROA falls below 8.4% (was 13.0%)
These dollars come from our value estimate and help sketch entry and exit zones. They’re a guide, not a trade order.
A Calmer Look · Devil's Advocate
The consensus 'Buy' verdict rests on an optical value trap, mistaking backward-looking trailing metrics for forward operational resilience.
May be overlooked
Severe information lag
All SEC filings are over 114 days stale as of 2026-09-05, concealing whether sequential revenue growth ($0.19M added between 2025-12-31 and 2026-03-31) decelerated further into negative territory.
Customer equity dilution
Accounting footnotes reveal ASC 606 share-based payment awards to customers, which obscure true client acquisition costs and gross margin quality of 29.9%.
Virtually zero institutional sponsorship
Despite a $524.45M market cap, lead institutional holders BlackRock and American Century own just 0.08% and 0.04% of shares, leaving liquidity reliant on retail momentum.
Expectations look stretched
Extrapolating 16.8% YoY revenue growth and 21.9% EPS expansion when top-line growth ground to a halt sequentially at 0.12% ($164.22M to $164.41M).
Treating the 12.3 P/E and 7.3 EV/EBITDA multiples as a valuation floor, ignoring that outsourcing peers face swift multiple compression when net margins sit at just 7.5%.
Relying on the stale May 1, 2025 $15M repurchase program to support EPS while net insider dollar flow turned negative at -$7,014 following CEO Dechant's $173,519 share liquidation.
Revenue growth YoY decelerates below 16.8%.
Revenue growth YoY decelerates below 16.8%.
Market context
Snapshot returns at report publication
1 month
+6.0%
3 months
+30.8%
6 months
+28.3%
1 year
+33.2%
At a Glance
A smaller company is riding a strong uptrend at modest pricing.
Top Holders
Financial trajectory
Financial Performance
Go deeper
For learning and research only — not investment advice. AlphaDog doesn’t hold stocks and isn’t your financial advisor.
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