Added to YB: 2026-06-24
Pitch date: 2026-06-21
IOC.JO [bullish]
iOCO Limited
Author Info
No bio for this author
Company Info
iOCO Limited provides information and communications technology services in Africa, the United Kingdom, Europe, and the Middle East.
Market Cap
ZAR 2.5B
Pitch Price
N/A
Price Target
N/A
Dividend
N/A
EV/EBITDA
5.45
P/E
8.49
EV/Sales
0.51
Sector
IT Services
Category
turnaround
iOCO: Deep Value with a Compounding Playbook
IOC.JO: South African IT services turnaround (ex-EOH) led by CEO Rhys Summerton (Argent 7-bagger architect) taking no salary. R5.7B rev, asset-light. FY25 EBITDA +68%, 40c HEPS, 53c FCF/share; H1 FY26 first organic growth. ~10x trailing P/E, <5x fwd EBITDA, ~7x FCF, 15% FCF yield. Argent 2.0 playbook: buybacks below intrinsic value + 4-5x bolt-ons; targets R500M FCF/500M shares.
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