Smartgroup Corporation Ltd

ASX:SIQ Stock Report

Market Cap: AU$1.4b

Smartgroup Future Growth

Future criteria checks 2/6

Smartgroup is forecast to grow earnings and revenue by 5.1% and 3.5% per annum respectively. EPS is expected to grow by 4.4% per annum. Return on equity is forecast to be 31.1% in 3 years.

Key information

5.1%

Earnings growth rate

4.37%

EPS growth rate

Professional Services earnings growth10.6%
Revenue growth rate3.5%
Future return on equity31.13%
Analyst coverage

Good

Last updated10 Sep 2026

Recent future growth updates

Analysis Article • Aug 30

The Smartgroup Corporation Ltd (ASX:SIQ) Half-Year Results Are Out And Analysts Have Published New Forecasts

Smartgroup Corporation Ltd ( ASX:SIQ ) missed earnings with its latest interim results, disappointing overly-optimistic...

Recent updates

New Narrative • Jun 26

Digital Investment And Partnerships Will Support A Long Runway For Future Earnings

Catalysts About Smartgroup Smartgroup provides salary packaging, novated leasing, and fleet management solutions to Australian employers and their employees. What are the underlying business or industry changes driving this perspective?
Narrative Update • Jun 18

SIQ: EV Incentives And Buyback Plans Will Support A Cautious Overvaluation View

Analysts have modestly raised their Smartgroup price target to A$10.82 from A$10.59, citing updated assumptions on discount rates, revenue growth, profit margins, and future P/E multiples following recent research. What’s in the News for Smartgroup Smartgroup shares are trading near a 52 week high, with recent interest linked to Australian government electric vehicle salary packaging incentives that support demand for the company’s novated leasing services.
New Narrative • Jun 12

Policy Reliance And Execution Risks Will Challenge This Salary Packaging Business

Catalysts About Smartgroup Smartgroup provides salary packaging, novated leasing, and fleet management services to employers and employees in Australia. What are the underlying business or industry changes driving this perspective?
Narrative Update • Jun 01

SIQ: Buy Back And Merger Prospects Will Shape A Fairly Valued Outlook

Analysts have revised their Smartgroup price target higher from A$9.46 to A$10.59, citing updated assumptions around revenue growth, profit margins and a higher future P/E multiple following recent research upgrades. What's in the News Smartgroup has announced an on market share buy back of up to A$20 million following the sale of most of its self funded fleet portfolio, as part of a shift toward a capital light fleet model using external funding partnerships, including Volkswagen Financial Services Australia.
Narrative Update • Apr 27

SIQ: Dividends And Potential Merger Will Shape A Fairly Valued Outlook

Analysts have nudged their price target for Smartgroup slightly higher to A$9.46 from A$9.44, reflecting small adjustments to assumptions around discount rates, revenue growth, profit margins and future P/E multiples. What's in the News Smartgroup announced a fully franked ordinary dividend of A$0.215 per share for the six months ended 31 December 2025, with an ex date of 5 March 2026, a record date of 6 March 2026, and a payment date of 20 March 2026 (company announcement).
Narrative Update • Apr 13

SIQ: Dividends And Potential Merger Will Shape A Balanced Outlook

Analysts have kept Smartgroup's fair value unchanged at A$9.44, with only very small parameter tweaks such as a slightly different discount rate and future P/E assumption, so there is no material change to the overall price target outlook. What's in the News Smartgroup declared a fully franked ordinary dividend of A$0.215 per share for the six months ended December 31, 2025, payable on March 20, 2026, with an ex date of March 5, 2026 and a record date of March 6, 2026 (company announcement).
Narrative Update • Mar 30

SIQ: Dividend Payouts And Possible Merger Will Support Future Upside

Analysts have kept their Smartgroup valuation framework broadly unchanged, leaving the implied price target around A$9.44. Small technical adjustments to discount rate, revenue growth, profit margin and future P/E assumptions were largely offsetting.
Narrative Update • Mar 16

SIQ: Dividend Income And Potential Merger Will Support Future Upside

Analysts have nudged their Smartgroup price target slightly higher, with fair value moving from A$9.43 to A$9.44 as they refresh assumptions around revenue growth, profit margins and future P/E multiples. What's in the News Smartgroup declared a fully franked ordinary dividend of A$0.215 per share for the six months ended 31 December 2025, with an ex date of 5 March 2026, a record date of 6 March 2026 and payment on 20 March 2026 (company announcement).
Narrative Update • Mar 02

SIQ: Fair Outlook Balances Dividend Returns And Potential FleetPartners Merger

Analysts have increased their Smartgroup price target from A$9.12 to A$9.43, reflecting updated assumptions regarding discount rate, revenue growth, profit margins and future P/E multiples. What's in the News Smartgroup declared a fully franked ordinary dividend of A$0.215 per share for the six months ended 31 December 2025, with an ex dividend date of 5 March 2026, a record date of 6 March 2026, and payment scheduled for 20 March 2026 (Key Developments).
Analysis Article • Aug 30

The Smartgroup Corporation Ltd (ASX:SIQ) Half-Year Results Are Out And Analysts Have Published New Forecasts

Smartgroup Corporation Ltd ( ASX:SIQ ) missed earnings with its latest interim results, disappointing overly-optimistic...
Analysis Article • Aug 29

Smartgroup Corporation Ltd's (ASX:SIQ) Prospects Need A Boost To Lift Shares

Smartgroup Corporation Ltd's ( ASX:SIQ ) price-to-earnings (or "P/E") ratio of 15x might make it look like a buy right...
User avatar
New Narrative • Mar 13

Expanding Novated Leasing Will Meet Future Electric Vehicle Demand

Targeted digital transformation and enhanced services aim to boost customer acquisition, retention, and revenue from existing clients.
Analysis Article • May 01

Returns At Smartgroup (ASX:SIQ) Appear To Be Weighed Down

If we want to find a potential multi-bagger, often there are underlying trends that can provide clues. Firstly, we'll...
Analysis Article • Apr 13

Some Confidence Is Lacking In Smartgroup Corporation Ltd's (ASX:SIQ) P/E

There wouldn't be many who think Smartgroup Corporation Ltd's ( ASX:SIQ ) price-to-earnings (or "P/E") ratio of 21.6x...
Analysis Article • Dec 14

Under The Bonnet, Smartgroup's (ASX:SIQ) Returns Look Impressive

Finding a business that has the potential to grow substantially is not easy, but it is possible if we look at a few key...
Analysis Article • Jun 08

An Intrinsic Calculation For Smartgroup Corporation Ltd (ASX:SIQ) Suggests It's 48% Undervalued

Today we'll do a simple run through of a valuation method used to estimate the attractiveness of Smartgroup Corporation...
Analysis Article • Apr 12

Is Smartgroup Corporation Ltd's (ASX:SIQ) 7.2% Dividend Sustainable?

Dividend paying stocks like Smartgroup Corporation Ltd ( ASX:SIQ ) tend to be popular with investors, and for good...
Analysis Article • Mar 29

Investors Shouldn't Overlook The Favourable Returns On Capital At Smartgroup (ASX:SIQ)

If we want to find a stock that could multiply over the long term, what are the underlying trends we should look for...
Analysis Article • Mar 16

Have Insiders Been Buying Smartgroup Corporation Ltd (ASX:SIQ) Shares This Year?

We often see insiders buying up shares in companies that perform well over the long term. The flip side of that is that...
Analysis Article • Mar 03

Do These 3 Checks Before Buying Smartgroup Corporation Ltd (ASX:SIQ) For Its Upcoming Dividend

It looks like Smartgroup Corporation Ltd ( ASX:SIQ ) is about to go ex-dividend in the next 4 days. This means that...
Analysis Article • Feb 25

Smartgroup Corporation Ltd's (ASX:SIQ) Stock On An Uptrend: Could Fundamentals Be Driving The Momentum?

Most readers would already be aware that Smartgroup's (ASX:SIQ) stock increased significantly by 15% over the past...

Earnings and Revenue Growth Forecasts

ASX:SIQ - Analysts future estimates and past financials data (AUD Millions)
DateRevenueEarningsFree Cash FlowCash from OpAvg. No. Analysts
12/31/20283941041131258
12/31/2027381981071198
12/31/202636288921068
6/30/2026350846896N/A
3/31/2026339827097N/A
12/31/2025329797298N/A
9/30/2025323797496N/A
6/30/2025316797694N/A
3/31/2025311786286N/A
12/31/2024306764978N/A
9/30/2024295714975N/A
6/30/2024283674872N/A
3/31/2024268655269N/A
12/31/2023252625665N/A
9/30/2023240595160N/A
6/30/2023228574555N/A
3/31/2023226584861N/A
12/31/2022225595166N/A
9/30/2022225615065N/A
6/30/2022226634864N/A
3/31/2022224615567N/A
12/31/2021222596169N/A
9/30/2021218556872N/A
6/30/2021214517475N/A
3/31/2021215466566N/A
12/31/2020216415557N/A
9/30/2020226456872N/A
6/30/2020235488187N/A
3/31/202024355N/A95N/A
12/31/201925061N/A103N/A
9/30/201924761N/A91N/A
6/30/201924561N/A79N/A
3/31/201924360N/A67N/A
12/31/201824259N/A54N/A
9/30/201823656N/A57N/A
6/30/201823054N/A59N/A
3/31/201821847N/A64N/A
12/31/201720541N/A69N/A
9/30/201719539N/A62N/A
6/30/201718536N/A56N/A
3/31/201716734N/A50N/A
12/31/201614833N/A45N/A
9/30/201612829N/A39N/A
6/30/201610824N/A32N/A
3/31/201610022N/A29N/A
12/31/20159220N/A25N/A
9/30/20158717N/A21N/A

Analyst Future Growth Forecasts

Earnings vs Savings Rate: SIQ's forecast earnings growth (5.1% per year) is above the savings rate (3.8%).

Earnings vs Market: SIQ's earnings (5.1% per year) are forecast to grow slower than the Australian market (11.2% per year).

High Growth Earnings: SIQ's earnings are forecast to grow, but not significantly.

Revenue vs Market: SIQ's revenue (3.5% per year) is forecast to grow slower than the Australian market (5.3% per year).

High Growth Revenue: SIQ's revenue (3.5% per year) is forecast to grow slower than 20% per year.

Earnings per Share Growth Forecasts

Future Return on Equity

Future ROE: SIQ's Return on Equity is forecast to be high in 3 years time (31.1%)

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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2026/09/11 17:08
End of Day Share Price 2026/09/11 00:00
Earnings2026/06/30
Annual Earnings2025/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* Example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.

Analyst Sources

Smartgroup Corporation Ltd is covered by 11 analysts. 8 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Hayden NicholsonBell Potter
Andrew HodgeCanaccord Genuity
Matthew NicholasCGS International