What is IBEX's operating income?

IBEX's total operating income in 2024 was $39.43 million, based on the following breakdown: Total Gross Profit: $508.57 million Total Operating Expenses: $469.14 million

IBEX (IBEX) Financials

$32.13 0.00 (0.00%)

Closing price 07/2/2026 04:00 PM Eastern

Extended Trading

$32.23 +0.10 (+0.31%)

As of 07/2/2026 05:39 PM Eastern

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Annual Income Statements for IBEX

This table shows IBEX's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2018	2019	2020	2021	2022	2023	2024
Period end date	6/30/2018	6/30/2019	6/30/2020	6/30/2021	6/30/2022	6/30/2023	6/30/2024
Net Income / (Loss) Attributable to Common Shareholders	-16	11	7.77	13	21	32	34
Consolidated Net Income / (Loss)	-16	11	7.77	13	21	32	34
Net Income / (Loss) Continuing Operations	-21	-4.52	7.77	13	21	32	34
Total Pre-Tax Income	-21	-0.90	10	15	19	40	41
Total Operating Income	-18	6.44	23	17	21	40	39
Total Gross Profit	81	110	129	443	493	523	509
Total Revenue	342	368	405	443	493	523	509
Operating Revenue	342	368	405	443	493	523	509
Total Cost of Revenue	261	259	277	0.00	0.00	0.00	0.00
Total Operating Expenses	99	103	106	426	472	483	469
Selling, General & Admin Expense	-	28	17	77	80	89	93
Depreciation Expense	12	21	24	14	18	19	19
Other Operating Expenses / (Income)	86	54	64	335	374	375	357
Total Other Income / (Expense), net	-3.09	-7.35	-13	-1.89	-1.25	-0.15	1.56
Interest Expense	-	-	-	1.89	1.29	0.79	0.51
Interest & Investment Income	-	-	-	-	0.04	0.64	2.07
Income Tax Expense	-0.11	3.62	2.32	2.06	-2.08	8.74	7.33
Basic Earnings per Share	-	$0.00	-	$0.74	$1.18	$1.74	$1.90
Weighted Average Basic Shares Outstanding	-	-	13.05M	17.65M	18.23M	18.20M	17.70M
Diluted Earnings per Share	-	($0.36)	-	$0.71	$1.15	$1.67	$1.84
Weighted Average Diluted Shares Outstanding	-	-	13.05M	18.36M	18.72M	18.89M	18.26M
Weighted Average Basic & Diluted Shares Outstanding	-	-	13.05M	18.40M	18.25M	18.30M	16.80M

This table shows IBEX's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q1 2026	Q2 2026	Q3 2026
Period end date	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	9/30/2025	12/31/2025	3/31/2026
Net Income / (Loss) Attributable to Common Shareholders	4.51	7.43	6.08	10	9.85	7.53	9.27	10	12	12	13
Consolidated Net Income / (Loss)	4.51	7.43	6.08	10	9.85	7.53	9.27	10	12	12	13
Net Income / (Loss) Continuing Operations	4.51	7.43	6.08	10	9.85	7.53	9.27	10	12	12	13
Total Pre-Tax Income	8.32	8.81	7.35	12	13	9.51	12	13	14	15	16
Total Operating Income	8.31	8.33	6.95	11	13	9.09	12	13	14	15	16
Total Gross Profit	124	36	37	127	307	130	141	141	151	48	164
Total Revenue	124	125	133	127	125	130	141	141	151	164	164
Operating Revenue	124	125	133	127	125	130	141	141	151	164	164
Total Cost of Revenue	-	88	96	0.00	-183	0.00	0.00	0.00	0.00	117	0.00
Total Operating Expenses	116	28	30	116	295	121	129	127	137	32	148
Selling, General & Admin Expense	24	23	25	24	22	26	26	27	27	28	27
Depreciation Expense	5.05	5.04	4.95	4.87	4.61	4.37	4.29	4.33	4.38	4.75	5.17
Other Operating Expenses / (Income)	87	-	-	87	-	90	99	96	107	-	116
Total Other Income / (Expense), net	0.01	0.48	0.40	0.31	0.37	0.42	-0.31	-0.37	-0.19	-0.19	-0.19
Interest Expense	0.24	0.10	0.11	0.12	0.18	0.16	0.62	0.40	0.22	0.25	0.25
Interest & Investment Income	0.25	0.59	0.51	0.43	0.54	0.58	0.31	0.03	0.03	0.06	0.06
Income Tax Expense	3.81	1.39	1.27	1.28	3.39	1.98	2.35	2.49	1.47	2.88	2.64
Basic Earnings per Share	$0.25	$0.41	$0.34	$0.59	$0.56	$0.45	$0.61	$0.79	$0.90	$0.91	$0.99
Weighted Average Basic Shares Outstanding	18.20M	18.29M	17.89M	17.47M	17.70M	16.88M	15.13M	13.26M	13.36M	13.47M	13.45M
Diluted Earnings per Share	$0.24	$0.39	$0.33	$0.57	$0.55	$0.43	$0.57	$0.73	$0.82	$0.83	$0.89
Weighted Average Diluted Shares Outstanding	18.89M	18.90M	18.44M	18.04M	18.26M	17.49M	16.46M	14.40M	14.61M	14.74M	14.99M
Weighted Average Basic & Diluted Shares Outstanding	18.30M	17.94M	17.57M	17.21M	16.80M	16.76M	13.19M	13.37M	13.47M	13.41M	13.39M

This table details how cash moves in and out of IBEX's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2018	2019	2020	2021	2022	2023	2024
Period end date	6/30/2018	6/30/2019	6/30/2020	6/30/2021	6/30/2022	6/30/2023	6/30/2024
Net Change in Cash & Equivalents	-8.42	-4.24	9.64	36	-9.01	8.60	5.29
Net Cash From Operating Activities	-5.75	2.20	52	16	40	42	36
Net Cash From Continuing Operating Activities	-6.37	3.20	50	16	40	42	36
Net Income / (Loss) Continuing Operations	-16	19	10	13	21	32	34
Consolidated Net Income / (Loss)	-16	19	10	13	21	32	34
Depreciation Expense	12	22	24	14	18	19	19
Non-Cash Adjustments To Reconcile Net Income	7.41	5.56	0.52	18	17	20	20
Changes in Operating Assets and Liabilities, net	-10	-44	15	-29	-16	-29	-37
Net Cash From Investing Activities	-5.44	-9.08	-4.84	-21	-26	-19	-8.86
Net Cash From Continuing Investing Activities	-5.44	-9.08	-4.84	-21	-26	-19	-8.86
Purchase of Property, Plant & Equipment	-5.19	-5.61	-4.28	-21	-26	-19	-8.86
Divestitures	-	-	-	0.00	0.00	-0.09	0.00
Net Cash From Financing Activities	3.19	2.55	-34	41	-22	-14	-22
Net Cash From Continuing Financing Activities	3.19	2.55	-34	41	-22	-14	-22
Repayment of Debt	-218	-185	-150	-128	-106	-58	-0.29
Repurchase of Common Equity	-	0.00	0.00	-1.07	-3.41	-0.28	-22
Issuance of Debt	224	205	129	118	88	43	0.24
Other Financing Activities, net	-3.16	-17	-12	-6.99	-0.78	1.61	-0.12
Effect of Exchange Rate Changes	0.20	-0.32	-0.02	-0.18	-0.97	-0.61	-0.02
Cash Interest Paid	-	-	-	1.89	1.25	0.15	0.51
Cash Income Taxes Paid	-	-	-	5.67	2.16	4.28	7.69

This table details how cash moves in and out of IBEX's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q1 2026	Q2 2026	Q3 2026
Period end date	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	9/30/2025	12/31/2025	3/31/2026
Net Change in Cash & Equivalents	14	4.60	-13	1.65	12	-0.42	-42	-7.23	7.34	-7.23	-0.05
Net Cash From Operating Activities	17	8.68	-1.64	11	17	7.76	1.14	8.83	16	6.64	12
Net Cash From Continuing Operating Activities	17	8.68	-1.64	11	17	7.76	1.14	8.83	16	6.64	12
Net Income / (Loss) Continuing Operations	4.51	7.43	6.08	10	9.85	7.53	9.27	10	12	12	13
Consolidated Net Income / (Loss)	4.51	7.43	6.08	10	9.85	7.53	9.27	10	12	12	13
Depreciation Expense	5.05	5.04	4.95	4.87	4.61	4.37	4.29	4.33	4.38	4.75	5.17
Non-Cash Adjustments To Reconcile Net Income	4.82	4.37	5.03	5.46	4.86	4.08	4.56	5.32	6.04	4.78	4.27
Changes in Operating Assets and Liabilities, net	3.06	-8.15	-18	-9.21	-1.89	-8.22	-17	-11	-6.79	-15	-11
Net Cash From Investing Activities	-3.72	-2.05	-2.89	-1.69	-2.22	-3.63	-4.32	-5.27	-7.64	-12	-5.27
Net Cash From Continuing Investing Activities	-3.72	-2.05	-2.89	-1.69	-2.22	-3.63	-4.32	-5.27	-7.64	-12	-5.27
Purchase of Property, Plant & Equipment	-3.72	-2.05	-2.89	-1.69	-2.22	-3.63	-4.32	-5.27	-7.64	-12	-5.27
Net Cash From Financing Activities	0.13	-1.97	-8.55	-8.06	-3.15	-4.60	-39	-11	-0.65	-2.15	-6.66
Net Cash From Continuing Financing Activities	0.13	-1.97	-8.55	-8.06	-3.15	-4.60	-39	-11	-0.65	-2.15	-6.66
Repayment of Debt	-0.06	-0.09	-0.06	-0.06	-0.09	-0.06	-1.60	-49	0.00	-11	-25
Repurchase of Common Equity	-	-1.83	-8.44	-8.28	-3.01	-4.81	-47	-25	-2.77	-2.79	-4.58
Issuance of Debt	0.06	0.04	0.06	0.06	0.09	0.06	9.10	60	0.00	11	25
Other Financing Activities, net	0.13	-0.08	-0.11	0.21	-0.14	0.21	0.16	2.52	2.12	0.64	-2.08
Effect of Exchange Rate Changes	-0.10	-0.07	0.07	-0.03	0.00	0.05	-0.02	0.14	-0.04	0.00	0.02
Cash Interest Paid	-0.40	0.10	0.11	0.12	0.18	0.16	0.62	0.40	0.22	0.25	0.25
Cash Income Taxes Paid	1.36	1.09	2.93	1.41	2.26	3.38	3.40	3.11	3.53	3.58	0.49

This table presents IBEX's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2019	2020	2021	2022	2023	2024	2025
Period end date	6/30/2019	6/30/2020	6/30/2021	6/30/2022	6/30/2023	6/30/2024	6/30/2025
Total Assets	188	195	274	294	293	294	273
Total Current Assets	82	86	141	142	159	180	146
Cash & Equivalents	8.87	22	58	49	57	63	15
Accounts Receivable	73	64	83	75	86	99	117
Prepaid Expenses	-	-	-	7.14	6.62	7.71	9.44
Current Deferred & Refundable Income Taxes	-	-	-	6.39	5.97	9.08	1.52
Other Current Assets	-	-	-	4.56	2.19	1.89	2.13
Plant, Property, & Equipment, net	82	85	31	42	0.00	0.00	33
Total Noncurrent Assets	21	22	101	110	135	114	95
Goodwill	12	12	12	12	12	12	12
Noncurrent Deferred & Refundable Income Taxes	2.52	2.22	4.25	9.28	4.59	4.29	7.16
Other Noncurrent Operating Assets	3.40	4.83	81	89	118	98	76
Total Liabilities & Shareholders' Equity	188	195	274	294	293	294	273
Total Liabilities	180	179	194	181	143	128	139
Total Current Liabilities	111	106	106	98	73	71	80
Short-Term Debt	42	27	27	15	0.41	0.66	0.82
Accounts Payable	47	53	55	21	19	17	19
Current Deferred Revenue	-	-	-	8.60	6.41	4.75	5.50
Current Deferred & Payable Income Tax Liabilities	1.47	3.09	3.66	2.97	3.02	6.08	1.99
Current Employee Benefit Liabilities	-	-	-	33	29	31	39
Other Current Liabilities	11	22	20	16	15	12	14
Total Noncurrent Liabilities	68	73	88	83	70	57	59
Long-Term Debt	7.18	3.78	1.80	0.66	0.60	0.87	0.80
Noncurrent Deferred Revenue	-	-	-	3.99	1.38	1.13	1.13
Other Noncurrent Operating Liabilities	2.36	7.49	14	78	68	55	57
Total Equity & Noncontrolling Interests	8.63	16	81	113	150	166	134
Total Preferred & Common Equity	8.63	16	81	113	150	166	134
Total Common Equity	8.63	16	81	113	150	166	134
Common Stock	96	96	158	198	205	210	218
Retained Earnings	-117	-110	-111	-76	-45	-11	26
Treasury Stock	-	-	-	-3.41	-3.68	-25	-103
Accumulated Other Comprehensive Income / (Loss)	-	-	-	-4.56	-6.31	-7.91	-6.34

This table presents IBEX's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q1 2024	Q2 2024	Q3 2024	Q1 2025	Q2 2025	Q3 2025	Q1 2026	Q2 2026	Q3 2026
Period end date	9/30/2023	12/31/2023	3/31/2024	9/30/2024	12/31/2024	3/31/2025	9/30/2025	12/31/2025	3/31/2026
Total Assets	295	298	290	306	272	275	284	296	297
Total Current Assets	168	169	171	189	159	149	153	159	165
Cash & Equivalents	62	49	51	62	20	13	23	15	15
Accounts Receivable	90	105	103	106	121	120	116	131	129
Prepaid Expenses	6.84	5.28	5.89	8.20	6.91	8.10	10	9.17	17
Current Deferred & Refundable Income Taxes	6.20	8.37	9.13	10	8.97	4.98	1.51	1.45	2.06
Other Current Assets	2.23	1.96	2.19	1.57	2.04	2.52	2.03	1.94	1.92
Plant, Property, & Equipment, net	38	36	31	0.00	0.00	0.00	37	44	43
Total Noncurrent Assets	90	93	87	118	113	126	95	93	89
Goodwill	12	12	12	12	12	12	12	12	12
Noncurrent Deferred & Refundable Income Taxes	4.34	4.29	4.00	4.41	5.05	5.99	8.23	8.60	7.95
Other Noncurrent Operating Assets	74	77	71	101	97	108	75	73	69
Total Liabilities & Shareholders' Equity	295	298	290	306	272	275	284	296	297
Total Liabilities	139	142	130	135	164	151	140	141	136
Total Current Liabilities	74	74	71	78	111	89	84	87	85
Short-Term Debt	0.40	0.44	0.59	0.70	33	20	0.85	0.84	0.82
Accounts Payable	18	18	18	20	20	18	25	25	21
Current Deferred Revenue	5.92	6.46	5.40	4.87	7.22	6.02	6.16	8.52	6.83
Current Deferred & Payable Income Tax Liabilities	3.16	3.35	3.32	5.89	4.64	0.82	1.24	0.75	2.89
Current Employee Benefit Liabilities	33	32	31	34	33	30	36	37	38
Other Current Liabilities	13	14	13	12	12	14	14	14	15
Total Noncurrent Liabilities	66	68	60	57	53	62	56	55	52
Long-Term Debt	0.58	0.56	0.82	0.80	0.70	0.74	0.73	0.59	0.57
Noncurrent Deferred Revenue	1.50	1.63	1.30	1.08	1.12	1.06	1.08	1.47	1.83
Other Noncurrent Operating Liabilities	64	66	57	56	51	60	54	53	49
Total Equity & Noncontrolling Interests	156	156	159	171	109	124	144	155	161
Total Preferred & Common Equity	156	156	159	171	109	124	144	155	161
Total Common Equity	156	156	159	171	109	124	144	155	161
Common Stock	206	208	209	211	212	216	222	224	224
Retained Earnings	-37	-31	-21	-3.59	5.68	16	38	50	63
Treasury Stock	-5.73	-14	-22	-30	-102	-102	-106	-109	-113
Accumulated Other Comprehensive Income / (Loss)	-7.21	-6.13	-6.55	-6.15	-7.25	-6.49	-9.74	-11	-13

This table displays calculated financial ratios and metrics derived from IBEX's official financial filings.

Metric	2018	2019	2020	2021	2022	2023	2024
Period end date	6/30/2018	6/30/2019	6/30/2020	6/30/2021	6/30/2022	6/30/2023	6/30/2024
Growth Metrics	-	-	-	-	-	-	-
Revenue Growth	0.00%	7.65%	9.98%	9.44%	11.16%	6.14%	-2.78%
EBITDA Growth	0.00%	354.93%	63.67%	-11.62%	24.27%	53.55%	-0.96%
EBIT Growth	0.00%	95.67%	1,215.60%	69.01%	21.00%	96.26%	-2.59%
NOPAT Growth	0.00%	136.23%	287.06%	-15.63%	55.10%	38.82%	2.13%
Net Income Growth	0.00%	169.04%	-29.14%	68.46%	63.92%	47.19%	6.56%
EPS Growth	0.00%	0.00%	0.00%	0.00%	61.97%	45.22%	10.18%
Operating Cash Flow Growth	0.00%	138.32%	2,248.73%	-68.91%	148.84%	4.63%	-14.24%
Free Cash Flow Firm Growth	0.00%	0.00%	143.00%	-145.47%	394.56%	-70.75%	15.10%
Invested Capital Growth	0.00%	0.00%	-26.06%	42.80%	-33.50%	16.40%	11.82%
Revenue Q/Q Growth	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.02%
EBITDA Q/Q Growth	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	7.52%
EBIT Q/Q Growth	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	13.09%
NOPAT Q/Q Growth	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	18.26%
Net Income Q/Q Growth	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	18.84%
EPS Q/Q Growth	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	20.26%
Operating Cash Flow Q/Q Growth	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	-0.04%
Free Cash Flow Firm Q/Q Growth	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Invested Capital Q/Q Growth	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	-4.95%
Profitability Metrics	-	-	-	-	-	-	-
Gross Margin	23.64%	29.78%	31.72%	100.00%	100.00%	100.00%	100.00%
EBITDA Margin	-2.47%	5.85%	8.70%	7.03%	7.86%	11.37%	11.58%
Operating Margin	-5.19%	1.75%	5.59%	3.84%	4.18%	7.74%	7.75%
EBIT Margin	-6.10%	-0.25%	2.49%	3.84%	4.18%	7.74%	7.75%
Profit (Net Income) Margin	-4.64%	2.98%	1.92%	2.95%	4.35%	6.04%	6.62%
Tax Burden Percent	76.09%	-1,212.94%	77.05%	86.38%	110.72%	78.32%	82.11%
Interest Burden Percent	100.00%	100.00%	100.00%	88.90%	93.96%	99.62%	103.95%
Effective Tax Rate	0.00%	0.00%	22.95%	13.62%	-10.72%	21.68%	17.89%
Return on Invested Capital (ROIC)	0.00%	7.88%	17.53%	14.33%	22.70%	36.46%	32.68%
ROIC Less NNEP Spread (ROIC-NNEP)	0.00%	20.08%	6.42%	11.32%	-16.10%	36.72%	30.50%
Return on Net Nonoperating Assets (RNNOA)	0.00%	246.29%	45.19%	12.71%	-0.59%	-12.48%	-11.36%
Return on Equity (ROE)	0.00%	254.17%	62.72%	27.04%	22.11%	23.98%	21.32%
Cash Return on Invested Capital (CROIC)	0.00%	-192.12%	47.49%	-20.92%	62.94%	21.30%	21.52%
Operating Return on Assets (OROA)	0.00%	-0.48%	5.26%	7.26%	7.26%	13.78%	13.43%
Return on Assets (ROA)	0.00%	5.82%	4.05%	5.58%	7.55%	10.75%	11.46%
Return on Common Equity (ROCE)	0.00%	254.17%	62.72%	27.04%	22.11%	23.98%	21.32%
Return on Equity Simple (ROE_SIMPLE)	0.00%	127.09%	48.12%	16.23%	18.91%	21.06%	20.30%
Net Operating Profit after Tax (NOPAT)	-12	4.51	17	15	23	32	32
NOPAT Margin	-3.64%	1.22%	4.31%	3.32%	4.63%	6.06%	6.37%
Net Nonoperating Expense Percent (NNEP)	0.00%	-12.20%	11.11%	3.01%	38.80%	-0.27%	2.17%
Cost of Revenue to Revenue	76.36%	70.22%	68.28%	0.00%	0.00%	0.00%	0.00%
SG&A Expenses to Revenue	0.00%	7.57%	4.28%	17.36%	16.26%	16.95%	18.31%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	28.83%	28.03%	26.13%	96.16%	95.82%	92.26%	92.25%
Earnings before Interest and Taxes (EBIT)	-21	-0.90	10	17	21	40	39
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	-8.45	22	35	31	39	59	59
Valuation Ratios	-	-	-	-	-	-	-
Price to Book Value (P/BV)	0.00	10.49	5.60	3.16	2.74	2.58	1.68
Price to Tangible Book Value (P/TBV)	0.00	0.00	58.94	3.88	3.05	2.80	1.81
Price to Revenue (P/Rev)	0.26	0.25	0.22	0.57	0.63	0.74	0.55
Price to Earnings (P/E)	0.00	8.25	11.64	19.46	14.47	12.27	8.28
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	0.00%	12.12%	8.59%	5.14%	6.91%	8.15%	12.08%
Enterprise Value to Invested Capital (EV/IC)	0.00	1.65	1.91	2.46	3.45	3.54	2.08
Enterprise Value to Revenue (EV/Rev)	0.00	0.51	0.40	0.67	0.56	0.63	0.43
Enterprise Value to EBITDA (EV/EBITDA)	0.00	8.77	4.58	9.53	7.16	5.57	3.69
Enterprise Value to EBIT (EV/EBIT)	0.00	0.00	16.02	17.42	13.44	8.18	5.51
Enterprise Value to NOPAT (EV/NOPAT)	0.00	41.92	9.26	20.17	12.14	10.44	6.71
Enterprise Value to Operating Cash Flow (EV/OCF)	0.00	85.83	3.12	18.47	6.93	7.91	6.05
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	3.42	0.00	4.38	17.87	10.19
Leverage & Solvency	-	-	-	-	-	-	-
Debt to Equity	0.00	12.47	5.78	1.24	0.14	0.01	0.01
Long-Term Debt to Equity	0.00	7.62	4.08	0.91	0.01	0.00	0.01
Financial Leverage	0.00	12.27	7.04	1.12	0.04	-0.34	-0.37
Leverage Ratio	0.00	21.82	15.48	4.85	2.93	2.23	1.86
Compound Leverage Factor	0.00	21.82	15.48	4.31	2.75	2.22	1.93
Debt to Total Capital	0.00%	92.58%	85.25%	55.45%	12.18%	0.67%	0.91%
Short-Term Debt to Total Capital	0.00%	35.99%	25.10%	14.76%	11.67%	0.27%	0.39%
Long-Term Debt to Total Capital	0.00%	56.59%	60.14%	40.69%	0.51%	0.40%	0.52%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	0.00%	7.42%	14.75%	44.55%	87.82%	99.33%	99.09%
Debt to EBITDA	0.00	5.00	2.65	3.22	0.41	0.02	0.03
Net Debt to EBITDA	0.00	4.57	2.02	1.36	-0.85	-0.95	-1.04
Long-Term Debt to EBITDA	0.00	3.05	1.87	2.36	0.02	0.01	0.01
Debt to NOPAT	0.00	23.87	5.35	6.82	0.69	0.03	0.05
Net Debt to NOPAT	0.00	21.85	4.07	2.87	-1.45	-1.78	-1.89
Long-Term Debt to NOPAT	0.00	14.59	3.77	5.00	0.03	0.02	0.03
Altman Z-Score	0.00	1.18	1.64	2.20	2.76	4.00	3.87
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-
Current Ratio	0.00	0.73	0.81	1.34	1.46	2.17	2.53
Quick Ratio	0.00	0.73	0.81	1.33	1.27	1.96	2.27
Cash Flow Metrics	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	0.00	-110	47	-21	63	19	21
Operating Cash Flow to CapEx	-110.65%	39.24%	1,207.54%	77.21%	154.35%	220.87%	405.42%
Free Cash Flow to Firm to Interest Expense	0.00	0.00	0.00	-11.36	49.13	23.39	41.48
Operating Cash Flow to Interest Expense	0.00	0.00	0.00	8.50	31.04	52.85	69.84
Operating Cash Flow Less CapEx to Interest Expense	0.00	0.00	0.00	-2.51	10.93	28.92	52.62
Efficiency Ratios	-	-	-	-	-	-	-
Asset Turnover	0.00	1.96	2.11	1.89	1.73	1.78	1.73
Accounts Receivable Turnover	0.00	5.05	5.91	6.03	6.23	6.46	5.50
Inventory Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Fixed Asset Turnover	0.00	4.48	4.85	7.68	13.55	0.00	0.00
Accounts Payable Turnover	0.00	5.52	5.53	0.00	0.00	0.00	0.00
Days Sales Outstanding (DSO)	0.00	72.23	61.74	60.52	58.61	56.46	66.37
Days Inventory Outstanding (DIO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days Payable Outstanding (DPO)	0.00	66.16	66.04	0.00	0.00	0.00	0.00
Cash Conversion Cycle (CCC)	0.00	6.07	-4.30	60.52	58.61	56.46	66.37
Capital & Investment Metrics	-	-	-	-	-	-	-
Invested Capital	0.00	114	85	121	80	94	105
Invested Capital Turnover	0.00	6.44	4.07	4.32	4.90	6.02	5.13
Increase / (Decrease) in Invested Capital	0.00	114	-30	36	-40	13	11
Enterprise Value (EV)	0.00	189	162	297	277	331	217
Market Capitalization	90	90	90	255	310	387	279
Book Value per Share	$0.00	$1.81	$1.24	$6.18	$6.17	$8.22	$9.63
Tangible Book Value per Share	$0.00	($1.29)	$0.12	$5.03	$5.52	$7.57	$8.94
Total Capital	0.00	116	109	181	129	151	167
Total Debt	0.00	108	93	100	16	1.01	1.53
Total Long-Term Debt	0.00	66	66	74	0.66	0.60	0.87
Net Debt	0.00	99	71	42	-33	-56	-61
Capital Expenditures (CapEx)	5.19	5.61	4.28	21	26	19	8.86
Debt-free, Cash-free Net Working Capital (DFCFNWC)	0.00	3.36	-14	4.53	11	28	47
Debt-free Net Working Capital (DFNWC)	0.00	12	7.86	62	60	86	110
Net Working Capital (NWC)	0.00	-30	-20	36	45	85	109
Net Nonoperating Expense (NNE)	3.44	-6.46	9.68	1.63	1.38	0.12	-1.28
Net Nonoperating Obligations (NNO)	0.00	106	68	40	-33	-56	-61
Total Depreciation and Amortization (D&A)	12	22	25	14	18	19	19
Debt-free, Cash-free Net Working Capital to Revenue	0.00%	0.91%	-3.46%	1.02%	2.20%	5.42%	9.22%
Debt-free Net Working Capital to Revenue	0.00%	3.32%	1.94%	14.07%	12.10%	16.39%	21.56%
Net Working Capital to Revenue	0.00%	-8.04%	-4.84%	8.04%	9.04%	16.31%	21.43%
Earnings Adjustments	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.00	$0.00	$0.00	$0.16	$0.00	$1.74	$1.90
Adjusted Weighted Average Basic Shares Outstanding	0.00	0.00	13.05M	18.40M	18.25M	18.20M	17.70M
Adjusted Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.15	$0.00	$1.67	$1.84
Adjusted Weighted Average Diluted Shares Outstanding	0.00	0.00	13.05M	18.40M	18.25M	18.89M	18.26M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	0.00	0.00	13.05M	18.40M	18.25M	18.30M	16.80M
Normalized Net Operating Profit after Tax (NOPAT)	-12	4.51	17	15	14	32	32
Normalized NOPAT Margin	-3.64%	1.22%	4.31%	3.32%	2.93%	6.06%	6.37%
Pre Tax Income Margin	-6.10%	-0.25%	2.49%	3.42%	3.93%	7.71%	8.06%
Debt Service Ratios	-	-	-	-	-	-	-
EBIT to Interest Expense	0.00	0.00	0.00	9.01	16.00	51.11	76.71
NOPAT to Interest Expense	0.00	0.00	0.00	7.78	17.72	40.03	62.99
EBIT Less CapEx to Interest Expense	0.00	0.00	0.00	-2.00	-4.11	27.18	59.48
NOPAT Less CapEx to Interest Expense	0.00	0.00	0.00	-3.22	-2.39	16.10	45.76
Payout Ratios	-	-	-	-	-	-	-
Dividend Payout Ratio	-0.92%	14.59%	1.56%	30.56%	0.00%	0.00%	0.00%
Augmented Payout Ratio	-0.92%	14.59%	1.56%	38.77%	15.87%	0.87%	64.05%

This table displays calculated financial ratios and metrics derived from IBEX's official financial filings.

Metric	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q1 2026	Q2 2026	Q3 2026
Period end date	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	9/30/2025	12/31/2025	3/31/2026
DEI Shares Outstanding	-	-	-	-	-	-	-	13,191,924.00	13,372,404.00	-	13,405,520.00
DEI Adjusted Shares Outstanding	-	-	-	-	-	-	-	13,191,924.00	13,372,404.00	-	13,405,520.00
DEI Earnings Per Adjusted Shares Outstanding	-	-	-	-	-	-	-	0.79	0.90	-	0.99
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	0.00%	-2.50%	-4.80%	-3.62%	0.08%	4.10%	6.07%	10.99%	16.55%	16.73%	16.82%
EBITDA Growth	0.00%	8.31%	-25.82%	-8.90%	30.84%	0.66%	36.33%	9.36%	34.29%	23.58%	20.77%
EBIT Growth	0.00%	8.62%	-39.33%	-13.55%	54.94%	9.13%	71.70%	18.14%	50.67%	28.16%	21.21%
NOPAT Growth	0.00%	6.20%	-38.92%	-10.33%	112.50%	2.55%	65.66%	7.30%	69.62%	30.01%	25.18%
Net Income Growth	0.00%	13.83%	-34.47%	-8.59%	118.29%	1.43%	52.56%	1.54%	59.90%	31.82%	27.28%
EPS Growth	0.00%	11.43%	-32.65%	-3.39%	129.17%	10.26%	72.73%	28.07%	90.70%	45.61%	21.92%
Operating Cash Flow Growth	0.00%	56.13%	-130.93%	-15.76%	-0.07%	-10.62%	169.70%	-22.77%	101.88%	482.30%	34.39%
Free Cash Flow Firm Growth	0.00%	0.00%	0.00%	0.00%	0.00%	90.79%	95.09%	89.02%	99.88%	-8.80%	86.49%
Invested Capital Growth	0.00%	0.00%	0.00%	0.00%	11.82%	16.11%	13.46%	19.76%	11.08%	14.55%	11.35%
Revenue Q/Q Growth	-5.42%	0.14%	6.44%	-4.40%	-1.79%	4.16%	8.45%	0.04%	0.00%	8.63%	0.11%
EBITDA Q/Q Growth	-24.64%	0.11%	-11.07%	35.77%	8.24%	-22.98%	20.45%	8.91%	0.00%	10.84%	6.43%
EBIT Q/Q Growth	-36.36%	0.30%	-16.61%	62.40%	14.07%	-29.35%	31.19%	11.75%	0.00%	11.59%	5.68%
NOPAT Q/Q Growth	-59.76%	55.82%	-18.17%	74.75%	-4.63%	-24.80%	32.19%	13.19%	0.00%	1.32%	8.98%
Net Income Q/Q Growth	-60.01%	64.63%	-18.18%	69.71%	-4.51%	-23.50%	23.06%	12.96%	0.00%	1.45%	9.07%
EPS Q/Q Growth	-59.32%	62.50%	-15.38%	72.73%	-3.51%	-21.82%	32.56%	28.07%	0.00%	1.22%	7.23%
Operating Cash Flow Q/Q Growth	28.49%	-50.19%	-118.85%	798.29%	52.41%	-55.45%	-85.30%	673.71%	0.00%	-57.60%	78.57%
Free Cash Flow Firm Q/Q Growth	0.00%	0.00%	-16.35%	2.29%	98.51%	-445.18%	37.90%	-118.28%	0.00%	-58,472.41%	72.90%
Invested Capital Q/Q Growth	0.00%	1.54%	13.80%	1.81%	-4.95%	5.43%	11.20%	7.47%	0.00%	14.68%	4.47%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	100.00%	29.22%	27.71%	31.32%	246.92%	100.00%	100.00%	100.00%	100.00%	28.98%	100.00%
EBITDA Margin	10.74%	10.73%	8.97%	12.73%	14.03%	10.38%	11.53%	12.55%	11.96%	12.20%	12.97%
Operating Margin	6.68%	6.69%	5.24%	8.90%	10.33%	7.01%	8.48%	9.47%	9.06%	9.31%	9.83%
EBIT Margin	6.68%	6.69%	5.24%	8.90%	10.33%	7.01%	8.48%	9.47%	9.06%	9.31%	9.83%
Profit (Net Income) Margin	3.62%	5.96%	4.58%	8.13%	7.91%	5.81%	6.59%	7.44%	7.97%	7.44%	8.10%
Tax Burden Percent	54.23%	84.25%	82.68%	88.96%	74.38%	79.17%	79.77%	80.80%	89.12%	80.92%	83.44%
Interest Burden Percent	100.12%	105.79%	105.77%	102.72%	102.85%	104.63%	97.41%	97.21%	98.63%	98.76%	98.84%
Effective Tax Rate	45.77%	15.75%	17.32%	11.04%	25.62%	20.83%	20.23%	19.20%	10.88%	19.08%	16.56%
Return on Invested Capital (ROIC)	20.24%	61.66%	41.12%	73.15%	39.46%	27.77%	30.58%	33.90%	0.00%	0.00%	0.00%
ROIC Less NNEP Spread (ROIC-NNEP)	20.23%	60.33%	39.74%	72.04%	38.99%	27.22%	32.02%	35.34%	0.00%	0.00%	0.00%
Return on Net Nonoperating Assets (RNNOA)	-7.61%	-23.61%	-12.22%	-22.27%	-14.52%	-10.14%	-4.14%	-5.19%	0.00%	0.00%	0.00%
Return on Equity (ROE)	12.63%	38.06%	28.90%	50.87%	24.93%	17.63%	26.44%	28.71%	0.00%	0.00%	0.00%
Cash Return on Invested Capital (CROIC)	19.80%	0.00%	0.00%	0.00%	21.52%	16.81%	18.88%	12.64%	-10.50%	-13.56%	-10.74%
Operating Return on Assets (OROA)	11.89%	11.76%	9.02%	15.62%	17.90%	11.97%	15.50%	17.98%	0.00%	0.00%	0.00%
Return on Assets (ROA)	6.45%	10.48%	7.88%	14.28%	13.69%	9.91%	12.05%	14.12%	0.00%	0.00%	0.00%
Return on Common Equity (ROCE)	12.63%	38.06%	28.90%	50.87%	24.93%	17.63%	26.44%	28.71%	0.00%	0.00%	0.00%
Return on Equity Simple (ROE_SIMPLE)	0.00%	20.82%	18.76%	17.78%	0.00%	19.73%	33.92%	0.00%	0.00%	0.00%	0.00%
Net Operating Profit after Tax (NOPAT)	4.50	7.02	5.74	10	9.57	7.20	9.51	11	12	12	13
NOPAT Margin	3.62%	5.63%	4.33%	7.92%	7.69%	5.55%	6.76%	7.65%	8.08%	7.53%	8.20%
Net Nonoperating Expense Percent (NNEP)	0.01%	1.33%	1.38%	1.11%	0.46%	0.55%	-1.44%	-1.44%	-0.41%	-94.70%	-4.88%
Return On Investment Capital (ROIC_SIMPLE)	-	-	3.66%	-	-	-	6.66%	7.44%	8.41%	7.93%	8.31%
Cost of Revenue to Revenue	0.00%	70.78%	72.29%	68.68%	-146.92%	0.00%	0.00%	0.00%	0.00%	71.02%	0.00%
SG&A Expenses to Revenue	19.06%	18.49%	18.74%	18.59%	17.41%	20.21%	18.27%	19.23%	17.55%	16.78%	16.71%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	93.32%	22.54%	22.47%	22.42%	236.59%	92.99%	91.52%	90.53%	90.94%	19.67%	90.17%
Earnings before Interest and Taxes (EBIT)	8.31	8.33	6.95	11	13	9.09	12	13	14	15	16
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	13	13	12	16	17	13	16	18	18	20	21
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	2.58	1.81	2.18	1.70	1.68	1.96	3.31	2.59	3.77	3.33	2.24
Price to Tangible Book Value (P/TBV)	2.80	1.96	2.36	1.84	1.81	2.11	3.71	2.86	4.11	3.60	2.41
Price to Revenue (P/Rev)	0.74	0.54	0.66	0.53	0.55	0.65	0.69	0.60	0.00	0.00	0.00
Price to Earnings (P/E)	12.27	8.71	11.64	9.57	8.28	9.94	9.75	8.66	0.00	0.00	0.00
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	8.15%	11.49%	8.59%	10.44%	12.08%	10.06%	10.26%	11.55%	0.00%	0.00%	0.00%
Enterprise Value to Invested Capital (EV/IC)	3.54	2.33	2.71	2.02	2.08	2.49	3.05	2.50	4.25	3.56	2.35
Enterprise Value to Revenue (EV/Rev)	0.63	0.43	0.57	0.44	0.43	0.54	0.72	0.61	0.00	0.00	0.00
Enterprise Value to EBITDA (EV/EBITDA)	5.57	3.67	5.20	4.05	3.69	4.66	5.91	5.07	0.00	0.00	0.00
Enterprise Value to EBIT (EV/EBIT)	8.18	5.39	8.00	6.36	5.51	6.84	8.28	6.96	0.00	0.00	0.00
Enterprise Value to NOPAT (EV/NOPAT)	10.44	6.90	10.27	8.10	6.71	8.45	10.30	8.88	0.00	0.00	0.00
Enterprise Value to Operating Cash Flow (EV/OCF)	7.91	4.93	7.70	6.18	6.05	7.86	9.91	9.35	0.00	0.00	0.00
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	0.00	0.00	10.19	15.94	17.17	21.52	0.00	0.00	0.00
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.01	0.01	0.01	0.01	0.01	0.01	0.31	0.17	0.01	0.01	0.01
Long-Term Debt to Equity	0.00	0.00	0.00	0.01	0.01	0.00	0.01	0.01	0.01	0.00	0.00
Financial Leverage	-0.38	-0.39	-0.31	-0.31	-0.37	-0.37	-0.13	-0.15	-0.26	0.00	-0.02
Leverage Ratio	2.23	1.89	1.91	1.82	1.86	1.84	2.15	1.99	1.88	2.16	2.01
Compound Leverage Factor	2.23	2.00	2.02	1.87	1.91	1.92	2.10	1.94	1.85	2.13	1.98
Debt to Total Capital	0.67%	0.62%	0.64%	0.87%	0.91%	0.87%	23.74%	14.23%	1.08%	0.92%	0.86%
Short-Term Debt to Total Capital	0.27%	0.25%	0.28%	0.36%	0.39%	0.40%	23.25%	13.72%	0.58%	0.54%	0.51%
Long-Term Debt to Total Capital	0.40%	0.37%	0.36%	0.51%	0.52%	0.46%	0.49%	0.51%	0.50%	0.38%	0.35%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	99.33%	99.38%	99.36%	99.13%	99.09%	99.13%	76.26%	85.77%	98.92%	99.08%	99.14%
Debt to EBITDA	0.02	0.02	0.02	0.03	0.03	0.03	0.54	0.32	0.00	0.00	0.00
Net Debt to EBITDA	-0.95	-1.01	-0.85	-0.90	-1.04	-1.03	0.22	0.12	0.00	0.00	0.00
Long-Term Debt to EBITDA	0.01	0.01	0.01	0.02	0.01	0.01	0.01	0.01	0.00	0.00	0.00
Debt to NOPAT	0.03	0.03	0.04	0.05	0.05	0.05	0.93	0.56	0.00	0.00	0.00
Net Debt to NOPAT	-1.78	-1.90	-1.68	-1.80	-1.89	-1.87	0.38	0.21	0.00	0.00	0.00
Long-Term Debt to NOPAT	0.02	0.02	0.02	0.03	0.03	0.02	0.02	0.02	0.00	0.00	0.00
Altman Z-Score	3.63	3.27	3.47	3.45	3.57	3.68	3.62	3.73	2.95	2.88	2.38
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	2.17	2.27	2.28	2.42	2.53	2.42	1.44	1.67	1.82	1.83	1.95
Quick Ratio	1.96	2.07	2.07	2.18	2.27	2.17	1.28	1.49	1.65	1.69	1.70
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	0.00	-88	-102	-100	-1.49	-8.10	-5.03	-11	-0.01	-5.47	-1.48
Operating Cash Flow to CapEx	468.56%	423.20%	-56.60%	675.99%	784.77%	213.83%	26.42%	167.61%	205.13%	56.63%	225.00%
Free Cash Flow to Firm to Interest Expense	0.00	-845.85	-922.11	-806.57	-8.49	-50.01	-8.11	-27.18	-0.04	-22.07	-5.96
Operating Cash Flow to Interest Expense	72.95	83.50	-14.75	92.19	99.55	47.91	1.84	21.85	72.21	26.79	47.65
Operating Cash Flow Less CapEx to Interest Expense	57.38	63.77	-40.80	78.55	86.87	25.51	-5.13	8.81	37.01	-20.52	26.47
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	1.78	1.76	1.72	1.76	1.73	1.71	1.83	1.90	0.00	0.00	0.00
Accounts Receivable Turnover	6.46	5.76	4.89	4.91	5.50	5.23	4.62	4.79	0.00	0.00	0.00
Inventory Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Fixed Asset Turnover	0.00	13.72	14.28	16.16	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Accounts Payable Turnover	0.00	4.84	10.26	31.81	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days Sales Outstanding (DSO)	56.46	63.33	74.59	74.28	66.37	69.82	78.98	76.17	0.00	0.00	0.00
Days Inventory Outstanding (DIO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days Payable Outstanding (DPO)	0.00	75.49	35.56	11.47	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Cash Conversion Cycle (CCC)	56.46	-12.16	39.03	62.81	66.37	69.82	78.98	76.17	0.00	0.00	0.00
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	94	95	108	110	105	110	123	132	123	140	147
Invested Capital Turnover	5.59	10.95	9.50	9.24	5.13	5.00	4.52	4.43	0.00	0.00	0.00
Increase / (Decrease) in Invested Capital	0.00	95	108	110	11	15	15	22	12	18	15
Enterprise Value (EV)	331	222	293	222	217	275	374	329	521	500	346
Market Capitalization	387	283	341	271	279	336	360	321	542	514	360
Book Value per Share	$8.22	$8.52	$8.70	$9.07	$9.63	$10.18	$6.50	$9.41	$10.75	$11.47	$11.99
Tangible Book Value per Share	$7.57	$7.88	$8.04	$8.39	$8.94	$9.48	$5.79	$8.52	$9.86	$10.59	$11.11
Total Capital	151	157	157	161	167	173	143	145	145	156	162
Total Debt	1.01	0.98	1.00	1.41	1.53	1.50	34	21	1.57	1.43	1.39
Total Long-Term Debt	0.60	0.58	0.56	0.82	0.87	0.80	0.70	0.74	0.73	0.59	0.57
Net Debt	-56	-61	-48	-49	-61	-61	14	7.62	-21	-14	-14
Capital Expenditures (CapEx)	3.72	2.05	2.89	1.69	2.22	3.63	4.32	5.27	7.64	12	5.27
Debt-free, Cash-free Net Working Capital (DFCFNWC)	28	32	47	51	47	49	61	67	47	57	66
Debt-free Net Working Capital (DFNWC)	86	94	96	101	110	111	82	80	70	73	81
Net Working Capital (NWC)	85	94	95	101	109	111	48	60	69	72	81
Net Nonoperating Expense (NNE)	-0.01	-0.41	-0.33	-0.27	-0.27	-0.33	0.25	0.30	0.17	0.15	0.16
Net Nonoperating Obligations (NNO)	-56	-61	-48	-49	-61	-61	14	7.62	-21	-14	-14
Total Depreciation and Amortization (D&A)	5.05	5.04	4.95	4.87	4.61	4.37	4.29	4.33	4.38	4.75	5.17
Debt-free, Cash-free Net Working Capital to Revenue	5.42%	6.18%	9.10%	9.93%	9.22%	9.57%	11.77%	12.42%	0.00%	0.00%	0.00%
Debt-free Net Working Capital to Revenue	16.39%	18.12%	18.65%	19.90%	21.56%	21.70%	15.64%	14.84%	0.00%	0.00%	0.00%
Net Working Capital to Revenue	16.31%	18.04%	18.56%	19.78%	21.43%	21.56%	9.27%	11.14%	0.00%	0.00%	0.00%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.25	$0.41	$0.34	$0.59	$0.56	$0.45	$0.61	$0.79	$0.90	$0.91	$0.99
Adjusted Weighted Average Basic Shares Outstanding	18.20M	18.29M	17.89M	17.47M	17.70M	16.88M	15.13M	13.26M	13.36M	13.47M	13.45M
Adjusted Diluted Earnings per Share	$0.24	$0.39	$0.33	$0.57	$0.55	$0.43	$0.57	$0.73	$0.82	$0.83	$0.89
Adjusted Weighted Average Diluted Shares Outstanding	18.89M	18.90M	18.44M	18.04M	18.26M	17.49M	16.46M	14.40M	14.61M	14.74M	14.99M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	18.30M	17.94M	17.57M	17.21M	16.80M	16.76M	13.19M	13.37M	13.47M	13.41M	13.39M
Normalized Net Operating Profit after Tax (NOPAT)	4.50	7.02	5.74	10	9.57	7.20	9.51	11	12	12	13
Normalized NOPAT Margin	3.62%	5.63%	4.33%	7.92%	7.69%	5.55%	6.76%	7.65%	8.08%	7.53%	8.20%
Pre Tax Income Margin	6.68%	7.07%	5.54%	9.14%	10.63%	7.33%	8.26%	9.21%	8.94%	9.19%	9.71%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	34.75	80.11	62.59	90.98	73.54	56.12	19.24	32.99	63.13	61.64	64.88
NOPAT to Interest Expense	18.85	67.49	51.74	80.94	54.70	44.43	15.35	26.66	56.26	49.88	54.14
EBIT Less CapEx to Interest Expense	19.18	60.38	36.53	77.35	60.85	33.72	12.27	19.96	27.93	14.33	43.71
NOPAT Less CapEx to Interest Expense	3.28	47.76	25.69	67.31	42.01	22.02	8.38	13.62	21.06	2.57	32.96
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Augmented Payout Ratio	0.87%	5.64%	35.08%	65.50%	64.05%	72.66%	169.54%	214.01%	0.00%	0.00%	0.00%

Financials Breakdown Chart

Key Financial Trends

IBEX Ltd has shown a meaningful improvement in profitability and cash generation over the last year, although the balance sheet still carries some working-capital and liability pressure. In the latest quarter, revenue, earnings, and operating cash flow all improved year over year, but the company still had to fund aggressive debt moves, share repurchases, and a fairly heavy capital base.

Q3 2026 revenue rose to $164.4 million, up from $140.7 million in Q3 2025, showing solid top-line growth.
Net income increased to $13.3 million in Q3 2026 from $10.5 million a year ago, indicating better bottom-line performance.
Operating cash flow improved to $11.9 million in Q3 2026 versus $8.8 million in Q3 2025.
The company generated $15.7 million in operating cash flow in Q1 2026, up from $7.8 million in Q1 2025, suggesting stronger cash conversion in that period.
Cash and equivalents ended Q3 2026 at $15.4 million, slightly above Q2 2026, helping maintain liquidity.
Basic EPS improved to $0.99 in Q3 2026 from $0.79 in Q3 2025.
EBIT margin remains modest: Q3 2026 operating income was $16.2 million on $164.4 million revenue, so profitability is positive but not especially wide.
Accounts receivable remained large at $129.2 million in Q3 2026, which means a significant portion of revenue is still tied up in collections.
Current liabilities totaled $84.8 million in Q3 2026 versus $165.4 million in current assets, leaving only a moderate working-capital cushion.
The company had a net cash decline of $51,000 in Q3 2026 after financing outflows, showing that operating gains are being offset by capital allocation and financing activity.

Looking at the trend over the past several quarters, IBEX has moved from a weaker period in late 2024 and early 2025 toward a more stable earnings profile in 2026. Revenue growth has been steady, and net income has improved year over year in the most recent comparable quarters. That said, the company’s cash flow can still be lumpy because changes in operating assets and liabilities have been a meaningful drag in several quarters.

One area investors should watch is leverage and capital allocation. In Q3 2026, IBEX issued and repaid $24.6 million of debt in the same quarter, while also repurchasing $4.6 million of stock. That suggests active balance-sheet management, but it also means cash is being used for financing decisions rather than building a large reserve.

Overall, IBEX looks like a company with improving earnings power and decent operating cash generation, but investors should keep an eye on working capital, receivables, and the size of current liabilities. The trend is constructive, yet the balance sheet does not leave a huge margin for error.

07/05/26 03:12 PM ETAI Generated. May Contain Errors.

IBEX Financials - Frequently Asked Questions

According to the most recent income statement we have on file, IBEX's financial year ends in June. Their financial year 2024 ended on June 30, 2024.

IBEX's net income appears to be on an upward trend, with a most recent value of $33.66 million in 2024, falling from -$15.88 million in 2018. The previous period was $31.58 million in 2023. See IBEX's forecast for analyst expectations on what's next for the company.

IBEX's total operating income in 2024 was $39.43 million, based on the following breakdown:

Total Gross Profit: $508.57 million
Total Operating Expenses: $469.14 million

Over the last 6 years, IBEX's total revenue changed from $342.20 million in 2018 to $508.57 million in 2024, a change of 48.6%.

IBEX's total liabilities were at $138.91 million at the end of 2025, a 8.4% increase from 2024, and a 22.7% decrease since 2019.

In the past 6 years, IBEX's cash and equivalents has ranged from $8.87 million in 2019 to $62.72 million in 2024, and is currently $15.35 million as of their latest financial filing in 2025.

Over the last 6 years, IBEX's book value per share changed from 0.00 in 2018 to 9.63 in 2024, a change of 963.1%.

Related Companies

Financial statements for NASDAQ:IBEX last updated on 7/2/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.

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IBEX (IBEX) Financials

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IBEX (IBEX) Financials

Annual Income Statements for IBEX

Quarterly Income Statements for IBEX

Annual Cash Flow Statements for IBEX

Quarterly Cash Flow Statements for IBEX

Annual Balance Sheets for IBEX

Quarterly Balance Sheets for IBEX

Annual Metrics And Ratios for IBEX

Quarterly Metrics And Ratios for IBEX

Financials Breakdown Chart

Key Financial Trends

IBEX Financials - Frequently Asked Questions

When does IBEX's fiscal year end?

How has IBEX's net income changed over the last 6 years?

What is IBEX's operating income?

How has IBEX's revenue changed over the last 6 years?

How much debt does IBEX have?

How much cash does IBEX have?

How has IBEX's book value per share changed over the last 6 years?

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