SMARTPAY HOLDINGS LIMITED (SMP)
Share Price Analysis and Chart

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SMP - SMARTPAY HOLDINGS LIMITED

FNArena Sector : Business & Consumer Credit

Year End: March

GICS Industry Group : Software & Services

Debt/EBITDA: 1.39

Index: ALL-ORDS

LAST PRICE	CHANGE +/-	CHANGE %	VOLUME
$0.945 30 May 2025	0.015 OPEN $0.94	1.61% HIGH $0.96	42,113 LOW $0.94

LAST PRICE

CHANGE +/-

CHANGE %

VOLUME

$0.945

30 May
2025

0.015

OPEN

$0.94

1.61%

HIGH

$0.96

42,113

LOW

$0.94

TARGET

$1.25

-0.01 change from previous day

32.3% upside

OTHER COMPANIES IN THE SAME SECTOR
BTN . CCP . CGR . COG . EML . EPY . FSA . HUM . JDO . LFS . MME . PLT . PPM . QAL . SIV . SVR . TYR . WZR . XYZ . ZIP .

FNARENA'S MARKET CONSENSUS FORECASTS

12 Month Avg FX Values

Present FX Values

Original Currency

Title	FY26 Forecast	FY27 Forecast
EPS (cps)	2.5	xxx
DPS (cps)	0.0	xxx
EPS Growth	N/A	xxx
DPS Growth	N/A	xxx
PE Ratio	38.4	xxx
Dividend Yield	0.0%	xxx
Div Pay Ratio(%)	N/A	xxx

Title	FY24 Actual	FY25 Actual	FY26 Forecast	FY27 Forecast
EPS (cps)	xxx	N/A	2.7	xxx
DPS (cps)	xxx	N/A	0.0	xxx
EPS Growth	xxx	N/A	N/A	xxx
DPS Growth	xxx	N/A	N/A	xxx
Div Pay Ratio(%)	xxx	N/A	N/A	xxx

This company reports in NZD.
All estimates have been converted into AUD by FNArena at present FX values.

Dividend yield today if purchased 3 years ago: N/A

DIVIDEND YIELD CALCULATOR

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

HISTORICAL DATA ARE ALL IN AUD

Copyright © 2025 FactSet UK Limited. All rights reserved

Title	2020	2021	2022	2023	2024	2025
EPS Basic	xxx	xxx	xxx	xxx	xxx	-0.3
DPS All	xxx	xxx	xxx	xxx	xxx	0.0
Sales/Revenue	xxx	xxx	xxx	xxx	xxx	95.3 M
Book Value Per Share	xxx	xxx	xxx	xxx	xxx	19.4
Net Operating Cash Flow	xxx	xxx	xxx	xxx	xxx	11.1 M
Net Profit Margin	xxx	xxx	xxx	xxx	xxx	-0.69 %

EPS Basic

DPS All

Sales/Revenue

Book Value Per Share

Net Operating Cash Flow

Net Profit Margin

Title	2020	2021	2022	2023	2024	2025
Return on Capital Employed	xxx	xxx	xxx	xxx	xxx	-1.39 %
Return on Invested Capital	xxx	xxx	xxx	xxx	xxx	-1.05 %
Return on Assets	xxx	xxx	xxx	xxx	xxx	-0.55 %
Return on Equity	xxx	xxx	xxx	xxx	xxx	-1.39 %
Return on Total Capital	xxx	xxx	xxx	xxx	xxx	1.07 %
Free Cash Flow ex dividends	xxx	xxx	xxx	xxx	xxx	2.9 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	2020	2021	2022	2023	2024	2025
Short-Term Debt	xxx	xxx	xxx	xxx	xxx	2 M
Long Term Debt	xxx	xxx	xxx	xxx	xxx	17 M
Total Debt	xxx	xxx	xxx	xxx	xxx	19 M
Goodwill - Gross	xxx	xxx	xxx	xxx	xxx	13 M
Cash & Equivalents - Generic	xxx	xxx	xxx	xxx	xxx	11 M
Price To Book Value	xxx	xxx	xxx	xxx	xxx	3.98

Short-Term Debt

Long Term Debt

Total Debt

Goodwill - Gross

Cash & Equivalents - Generic

Price To Book Value

Title	2020	2021	2022	2023	2024	2025
Capex	xxx	xxx	xxx	xxx	xxx	19.5 M
Capex % of Sales	xxx	xxx	xxx	xxx	xxx	20.51 %
Cost of Goods Sold	xxx	xxx	xxx	xxx	xxx	82 M
Selling, General & Admin. Exp & Other	xxx	xxx	xxx	xxx	xxx	12 M
Research & Development	xxx	xxx	xxx	xxx	xxx	-
Investments - Total	xxx	xxx	xxx	xxx	xxx	0 M

Capex

Capex % of Sales

Cost of Goods Sold

Selling, General & Admin. Exp & Other

Research & Development

Investments - Total

EXPERT VIEWS
EXTRA COVERAGE

EXPERT VIEWS

Display All Commentary

Sentiment Indicator

1.0

No. Of Recommendations

BROKER	DATE	RATING	RECOMMENDATION	TARGET PRICE	% TO REACH TARGET	COMMENTARY
Bell Potter	xx/xx/xxxx	1	xxx	$xx.xx	xx.xx%	Broker commentary and detailed analysis is available for Full Members Only. Login above or Get a Free Trial
Shaw and Partners	18/03/2025	1	Buy	$1.20	26.98%	Shaw and Partners notes SmartPay received two separate conditional offers -- one from Tyro Payments ((TYR)) and the other unnamed but speculated to be Shift4 Payments based on a newspaper article. The broker believes the SmartPay and Tyro combination makes sense with $4.4m synergies and a likely 15% EPS accretion in FY26 based on a 75% scrip and 25% cash deal. The broker reckons Shift4 has deep pockets and seeks a foothold in the Australia/NZ market, though the bid is seen as undervaluing SmartPay. The broker sees risks from a regulatory standpoint including full surcharge ban, integration costs and Tyro's past experience with Bendigo Bank ((BEN)). The broker views the risk from ACCC blocking the deal as unlikely. No change to $1.2 target price and Buy rating. FORECAST Shaw and Partners forecasts a full year FY26 dividend of 0.00 cents and EPS of 2.19 cents.

BROKER

DATE

RATING

RECOMMENDATION

TARGET PRICE

% TO REACH TARGET

COMMENTARY

Bell Potter

xx/xx/xxxx

xxx

$xx.xx

xx.xx%

Broker commentary and detailed analysis is available for Full Members Only.
Login above or Get a Free Trial

Shaw and Partners

18/03/2025

Buy

$1.20

26.98%

Shaw and Partners notes SmartPay received two separate conditional offers -- one from Tyro Payments ((TYR)) and the other unnamed but speculated to be Shift4 Payments based on a newspaper article.

The broker believes the SmartPay and Tyro combination makes sense with $4.4m synergies and a likely 15% EPS accretion in FY26 based on a 75% scrip and 25% cash deal.

The broker reckons Shift4 has deep pockets and seeks a foothold in the Australia/NZ market, though the bid is seen as undervaluing SmartPay.

The broker sees risks from a regulatory standpoint including full surcharge ban, integration costs and Tyro's past experience with Bendigo Bank ((BEN)).

The broker views the risk from ACCC blocking the deal as unlikely. No change to $1.2 target price and Buy rating.

FORECAST
Shaw and Partners forecasts a full year FY26 dividend of 0.00 cents and EPS of 2.19 cents.

Access Stockbroker Research History >

EXTRA COVERAGE

Display All Commentary

No. Of Recommendations

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
Wilsons	xx/xx/xxxx	1	xxxxxxxxxx	$xx.xx	xx.xx%	Broker commentary and detailed analysis is available for Full Members Only. Login above or Get a Free Trial
Canaccord Genuity	19/03/2025	1	Buy	$1.20	26.98%	SmartPay received a takeover offer from Tyro Payments ((TYR)) and another global company speculated to be Shift4 Payments. The company granted due diligence to both parties and has reciprocal due diligence with Tyro. From Tyro's point of view, Canaccord Genuity considers the strategic rationale for the acquisition to be sound. The broker estimates cost synergies would need to be over $20m for the deal to be accretive as a full scrip merger at 73c Tyro share price. The broker thinks the offer price of NZ$1.00 undervalues Smartpay and is unlikely to be accepted but because of two offers, the deal would get competitive. Target price of $1.20 and Buy rating are unchanged. FORECAST Canaccord Genuity forecasts a full year FY26 dividend of 0.00 cents and EPS of 2.55 cents.

BROKER

DATE

RATING

RECOMMENDATION

TARGET PRICE

% TO REACH TARGET

COMMENTARY

Wilsons

xx/xx/xxxx

xxxxxxxxxx

$xx.xx

xx.xx%

Broker commentary and detailed analysis is available for Full Members Only.
Login above or Get a Free Trial

Canaccord Genuity

19/03/2025

Buy

$1.20

26.98%

SmartPay received a takeover offer from Tyro Payments ((TYR)) and another global company speculated to be Shift4 Payments. The company granted due diligence to both parties and has reciprocal due diligence with Tyro.

From Tyro's point of view, Canaccord Genuity considers the strategic rationale for the acquisition to be sound. The broker estimates cost synergies would need to be over $20m for the deal to be accretive as a full scrip merger at 73c Tyro share price.

The broker thinks the offer price of NZ$1.00 undervalues Smartpay and is unlikely to be accepted but because of two offers, the deal would get competitive.

Target price of $1.20 and Buy rating are unchanged.

FORECAST
Canaccord Genuity forecasts a full year FY26 dividend of 0.00 cents and EPS of 2.55 cents.

Access Extra Coverage Research History >

SMP STOCK CHART

FNArena News on SMP

1	FNArena Corporate Results Monitor – 30-05-2025 May 30 2025 - Australia

2	Australian Broker Call Extra Edition – May 29, 2025 May 29 2025 - Daily Market Reports

3	Australian Broker Call Extra Edition – Apr 07, 2025 Apr 07 2025 - Daily Market Reports

4	Weekly Ratings, Targets, Forecast Changes – 21-03-25 Mar 24 2025 - Weekly Reports

5	Next Week At A Glance 24-28 Mar 2025 Mar 21 2025 - Weekly Reports

Latest Business & Consumer Credit News

1	Judo Capital’s Q3 Disappointment Hurts May 07 2025 - Small Caps

2	Zip Co Shares To Continue Uptrend Nov 26 2024 - Technicals

3	Are SmartPay & Tyro Private Equity Targets? Oct 23 2024 - Small Caps

4	COG Financial Services Screens ‘Too Cheap’ Oct 18 2024 - Small Caps

5	Strong Growth Prospects For Judo Capital Oct 11 2024 - Small Caps

6	Is Judo Capital Too Ambitious? Aug 22 2024 - Small Caps

7	Zip Co, The Lazarus Of BNPL Jul 05 2024 - Small Caps

8	Judo Answers The Critics Jan 24 2024 - Small Caps

9	BNPL To Be Regulated In Australia Jun 01 2023 - Australia

10	Tyro Payments Doubles Down On Savings Oct 12 2022 - Small Caps

Dividend Yield Today On Last Actual Payout :	N/A
Estimated Dividend Growth (Average Of Past Three Years)	%
Amount Invested	$
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SMARTPAY HOLDINGS LIMITED (SMP)
Share Price Analysis and Chart