SMARTGROUP CORPORATION LIMITED (SIQ)
Share Price Analysis and Chart

Enter the company code or Name for stock analysis:

SIQ - SMARTGROUP CORPORATION LIMITED

Year End: December
GICS Industry Group : Commercial & Professional Services
Debt/EBITDA: 0.72
Index: ASX200 | 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

$8.60

19 Jul
2024

-0.070

OPEN

$8.55

-0.81%

HIGH

$8.62

219,805

LOW

$8.50

TARGET
$10.102 17.5% upside
Franking for last dividend paid out: 100%
OTHER COMPANIES IN THE SAME SECTOR
FPR . MMS . SGF .
FNARENA'S MARKET CONSENSUS FORECASTS
SIQ: 1
Title FY22
Actual
FY23
Actual
FY24
Forecast
FY25
Forecast
EPS (cps) xxx 47.7 53.4 xxx
DPS (cps) xxx 47.5 44.9 xxx
EPS Growth xxx 5.3% 11.9% xxx
DPS Growth xxx 3.3% - 5.4% xxx
PE Ratio xxx N/A 15.9 xxx
Dividend Yield xxx N/A 5.3% xxx
Div Pay Ratio(%) xxx 99.5% 84.1% xxx

Dividend yield today if purchased 3 years ago: 6.60%

DIVIDEND YIELD CALCULATOR

Dividend Yield Today On Last Actual Payout :

5.61

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: 06/03 - ex-div 32c (franking 100%)

HISTORICAL DATA ARE ALL IN AUD
Copyright © 2024 FactSet UK Limited. All rights reserved
Title 201820192020202120222023
EPS Basic xxxxxxxxxxxxxxx47.7
DPS All xxxxxxxxxxxxxxx47.5
Sales/Revenue xxxxxxxxxxxxxxx251.6 M
Book Value Per Share xxxxxxxxxxxxxxx188.0
Net Operating Cash Flow xxxxxxxxxxxxxxx68.0 M
Net Profit Margin xxxxxxxxxxxxxxx24.61 %

EPS Basic

DPS All

Sales/Revenue

Book Value Per Share

Net Operating Cash Flow

Net Profit Margin

Title 201820192020202120222023
Return on Capital Employed xxxxxxxxxxxxxxx25.58 %
Return on Invested Capital xxxxxxxxxxxxxxx20.33 %
Return on Assets xxxxxxxxxxxxxxx15.04 %
Return on Equity xxxxxxxxxxxxxxx25.58 %
Return on Total Capital xxxxxxxxxxxxxxx29.82 %
Free Cash Flow ex dividends xxxxxxxxxxxxxxx0.6 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 201820192020202120222023
Short-Term Debt xxxxxxxxxxxxxxx6 M
Long Term Debt xxxxxxxxxxxxxxx66 M
Total Debt xxxxxxxxxxxxxxx72 M
Goodwill - Gross xxxxxxxxxxxxxxx273 M
Cash & Equivalents - Generic xxxxxxxxxxxxxxx71 M
Price To Book Value xxxxxxxxxxxxxxx4.64

Short-Term Debt

Long Term Debt

Total Debt

Goodwill - Gross

Cash & Equivalents - Generic

Price To Book Value

Title 201820192020202120222023
Capex xxxxxxxxxxxxxxx9.4 M
Capex % of Sales xxxxxxxxxxxxxxx3.75 %
Cost of Goods Sold xxxxxxxxxxxxxxx121 M
Selling, General & Admin. Exp & Other xxxxxxxxxxxxxxx38 M
Research & Development xxxxxxxxxxxxxxx-
Investments - Total xxxxxxxxxxxxxxx0 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

0.7

No. Of Recommendations

6
BROKER DATE RATING RECOMMENDATION TARGET PRICE % TO REACH TARGET COMMENTARY

Morgans

xx/xx/xxxx

3

xxxx

$xx.xx

xx.xx%

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

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

Macquarie

xx/xx/xxxx

1

xxxxxxx xx xxxxxxxxxx xxxx xxxxxxx

$xx.xx

xx.xx%

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

Citi

09/05/2024

1

Buy

$10.45

21.51%

Citi assesses margins will likely bottom in FY24 with leverage to come through in FY25, after reviewing numbers and commentary from yesterday's AGM for Smartgroup Corp.

Opex is growing in line with revenue at 5%, yet earnings (EBITDA) grew by 3% as increased novated lease settlements and greater product attachment drove higher product costs, explain the analysts.

While operating leverage is likely to take longer to materialise than the broker initially thought, demand for novated leasing is still expected to grow.

The Buy rating is unchanged. The broker's target falls to $10.45 from $11.55 partly due to lowering 1H earnings forecasts by -9%, reflecting lower novated volume growth expectations, and after allowing for an additional cost for the SA government contract.

FORECAST
Citi forecasts a full year FY24 dividend of 51.10 cents and EPS of 54.20 cents.
Citi forecasts a full year FY25 dividend of 59.80 cents and EPS of 63.70 cents.

Morgan Stanley

xx/xx/xxxx

3

xxxxx-xxxxxx

$xx.xx

xx.xx%

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

Ord Minnett

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

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

01/03/2024

1

Buy

$10.65

23.84%

Canaccord Genuity assesses the FY23 result for Smartgroup Corp as broadly meeting expectations which had been reset at the December 2023 guidance update.

Net profit advanced 3% and revenue rose 12% over the period, boosted by 15% growth in novated leases over the 2H23, as EVs contributed 41% of the new car orders during that period and ICE vehicle orders remained similar on a like for like comparison.

There are no material changes to earnings forecasts.

Buy rating remains and the target is lifted to $10.65 from $10.20 on the back of a higher valuation.

FORECAST
Canaccord Genuity forecasts a full year FY24 dividend of 56.00 cents and EPS of 56.00 cents.
Canaccord Genuity forecasts a full year FY25 dividend of 62.00 cents and EPS of 62.00 cents.

SIQ STOCK CHART