SMARTGROUP CORPORATION LIMITED (SIQ)
Share Price Analysis and Chart

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SIQ

SIQ - SMARTGROUP CORPORATION LIMITED

FNArena Sector : Vehicle Leasing & Salary Packaging
Year End: December
GICS Industry Group : Commercial & Professional Services
Debt/EBITDA: 0.66
Index: ASX300 | ALL-ORDS

Smartgroup is an Australian provider of novated leasing, fleet management, salary packaging and payroll services to employers. Founded in 1999, it listed on the ASX in 2014.

LAST PRICE CHANGE +/- CHANGE % VOLUME

$10.19

07 May
2026

0.400

OPEN

$9.82

4.09%

HIGH

$10.23

829,717

LOW

$9.65

TARGET
$10.238 0.5% upside
Franking for last dividend paid out: 100%
OTHER COMPANIES IN THE SAME SECTOR
FPR . MMS .
FNARENA'S MARKET CONSENSUS FORECASTS
SIQ: 1
Title FY24
Actual		 FY25
Actual		 FY26
Forecast		 FY27
Forecast
EPS (cps) xxx 61.2 65.8 xxx
DPS (cps) xxx 53.0 35.9 xxx
EPS Growth xxx 5.0% 7.5% xxx
DPS Growth xxx 9.3% - 32.2% xxx
PE Ratio xxx N/A 16.2 xxx
Dividend Yield xxx N/A 3.4% xxx
Div Pay Ratio(%) xxx 86.6% 54.6% xxx

Dividend yield today if purchased 3 years ago: 7.16%

DIVIDEND YIELD CALCULATOR

Dividend Yield Today On Last Actual Payout :

 4.97

Estimated Dividend Growth
(Average Of Past Three Years)

  %

Amount Invested

 $ 

Tell Me The Dividend After This Many Years
Past performance is no guarantee for the future. Investors should take into account that heavy swings in share price or exceptional circumstances (a la 2009) can have a significant impact on short term calculations and averages

Last ex-div: 08/09 - ex-div 19.50c (franking 100%)

HISTORICAL DATA ARE ALL IN AUD
Copyright © 2026 FactSet UK Limited. All rights reserved
Title 202020212022202320242025
EPS Basic xxxxxxxxxxxxxxx61.2
DPS All xxxxxxxxxxxxxxx53.0
Sales/Revenue xxxxxxxxxxxxxxx329.3 M
Book Value Per Share xxxxxxxxxxxxxxx213.4
Net Operating Cash Flow xxxxxxxxxxxxxxx123.7 M
Net Profit Margin xxxxxxxxxxxxxxx24.12 %

EPS Basic

DPS All

Sales/Revenue

Book Value Per Share

Net Operating Cash Flow

Net Profit Margin

Title 202020212022202320242025
Return on Capital Employed xxxxxxxxxxxxxxx29.68 %
Return on Invested Capital xxxxxxxxxxxxxxx22.63 %
Return on Assets xxxxxxxxxxxxxxx11.62 %
Return on Equity xxxxxxxxxxxxxxx29.68 %
Return on Total Capital xxxxxxxxxxxxxxx34.34 %
Free Cash Flow ex dividends xxxxxxxxxxxxxxx42.3 M

Return on Capital Employed

Return on Invested Capital

Return on Assets

Return on Equity

Return on Total Capital

Free Cash Flow ex dividends

Title 202020212022202320242025
Short-Term Debt xxxxxxxxxxxxxxx4 M
Long Term Debt xxxxxxxxxxxxxxx87 M
Total Debt xxxxxxxxxxxxxxx91 M
Goodwill - Gross xxxxxxxxxxxxxxx273 M
Cash & Equivalents - Generic xxxxxxxxxxxxxxx313 M
Price To Book Value xxxxxxxxxxxxxxx4.28

Short-Term Debt

Long Term Debt

Total Debt

Goodwill - Gross

Cash & Equivalents - Generic

Price To Book Value

Title 202020212022202320242025
Capex xxxxxxxxxxxxxxx26.2 M
Capex % of Sales xxxxxxxxxxxxxxx7.94 %
Cost of Goods Sold xxxxxxxxxxxxxxx154 M
Selling, General & Admin. Exp & Other xxxxxxxxxxxxxxx53 M
Research & Development xxxxxxxxxxxxxxx-
Investments - Total xxxxxxxxxxxxxxx1 M

Capex

Capex % of Sales

Cost of Goods Sold

Selling, General & Admin. Exp & Other

Research & Development

Investments - Total

EXPERT VIEWS
Display All Commentary

Sentiment Indicator

0.5

No. Of Recommendations

4
BROKER DATE RATING RECOMMENDATION TARGET PRICE % TO REACH TARGET COMMENTARY

Bell Potter

xx/xx/xxxx

1

xxxxxxx xx xxx xxxx xxxx

$xx.xx

xx.xx%

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Morgan Stanley

xx/xx/xxxx

3

xxxxx-xxxxxx

$xx.xx

xx.xx%

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Morgans

21/04/2026

3

Hold

$9.25

-9.22%

Morgans observes Smartgroup Corp is progressing with a digitally-led growth strategy and cash generation and the balance sheet appears very strong.

Current demand is supported by favourable government EV policy and the broker suspects its eventual removal may limit the company's ability to outperform current growth expectations.

A Hold rating is maintained with a $9.25 target.

Downside risks include a sustained slowdown in lease demand, further regulatory changes to add-on insurance product, and contract losses or existing contracts moving to panel arrangements.

On the upside, risk is attached to execution on organic growth plans and EV incentives driving lease demand.

FORECAST
Morgans forecasts a full year FY26 dividend of 42.50 cents and EPS of 65.40 cents.
Morgans forecasts a full year FY27 dividend of 44.00 cents and EPS of 69.70 cents.

Ord Minnett

xx/xx/xxxx

1

xxx

$xx.xx

xx.xx%

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Login above or Get a Free Trial
Access Stockbroker Research History >
EXTRA COVERAGE
Display All Commentary

No. Of Recommendations

1

Please note: unlike Broker Call Report, BC Extra is not updated daily. The info you see might not be the latest. FNArena does its best to update ASAP.

BROKER DATE RATING RECOMMENDATION TARGET PRICE % TO REACH TARGET COMMENTARY

Canaccord Genuity

07/05/2026

1

Upgrade to Buy from Hold

$10.10

-0.88%

Canaccord Genuity raises its target price for Smartgroup Corp by $1.00 to $10.10 and upgrades to Buy from Hold, highlighting near-term earnings momentum and potential upside from execution of strategic initiatives.

A strong operating backdrop driven by EV-related tax incentives and higher fuel prices is noted, supporting elevated demand for novated leases.

The broker expects FY26 to benefit from increased lease volumes and a higher mix of new leases, which are more profitable, alongside internal improvements in digitisation and customer service.

Demand is expected to moderate as fuel prices normalise and policy settings evolve.
Access Extra Coverage Research History >

SIQ STOCK CHART

FNArena News on SIQ

1
In Case You Missed It – BC Extra Upgrades & Downgrades – 08-05-26

May 08 2026 - Weekly Reports
2
Australian Broker Call *Extra* Edition – May 07, 2026

May 07 2026 - Daily Market Reports
3
In Case You Missed It – BC Extra Upgrades & Downgrades – 13-03-26

Mar 13 2026 - Weekly Reports
4
Australian Broker Call *Extra* Edition – Mar 09, 2026

Mar 09 2026 - Daily Market Reports
5
FNArena Corporate Results Monitor – 27-02-2026

Feb 27 2026 - Australia

Latest Vehicle Leasing & Salary Packaging News

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Smartgroup Dashes Offer To Focus On Growth

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