How does NMN's PE Ratio compare to its peers?

NMN is expensive based on its Price-To-Earnings Ratio (11.9x) compared to the peer average (11.6x).

How does NMN's PE Ratio compare vs other companies in the European Professional Services Industry?

NMN is good value based on its Price-To-Earnings Ratio (11.9x) compared to the European Professional Services industry average (19x).

What is NMN's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

NMN is expensive based on its Price-To-Earnings Ratio (11.9x) compared to the estimated Fair Price-To-Earnings Ratio (10.5x).

What is the Fair Price of NMN when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

NMN (€9.05) is trading below our estimate of [[fair value]] (€19.77)

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

Target price is more than 20% higher than the current share price and analysts are within a statistically confident range of agreement.

NMN Stock Overview

Provides salary packaging, novated leasing, disability plan management, support co-ordination, asset management, and related financial products and services in Australia and New Zealand. More details

NMN fundamental analysis
Snowflake Score
Valuation	4/6
Future Growth	2/6
Past Performance	4/6
Financial Health	3/6
Dividends	3/6

Rewards

Trading at 54.2% below our estimate of its fair value

Earnings are forecast to grow 4.87% per year

Earnings grew by 39.7% over the past year

Analysts in good agreement that stock price will rise by 22.5%

Risk Analysis

Debt is not well covered by operating cash flow

High level of non-cash earnings

Dividend of 10.15% is not well covered by earnings or free cash flows

My Notes

Capture your thoughts, links and company narrative

McMillan Shakespeare Limited Competitors

Amadeus FiRe

XTRA:AAD

€428.1m

CEWE Stiftung KGaA

XTRA:CWC

€707.8m

Befesa

XTRA:BFSA

€840.0m

Bilfinger

XTRA:GBF

€1.9b

Price History & Performance

Summary of share price highs, lows and changes for McMillan Shakespeare
Historical stock prices
Current Share Price	AU$9.05
52 Week High	AU$13.00
52 Week Low	AU$8.25
Beta	1.11
1 Month Change	0.56%
3 Month Change	5.23%
1 Year Change	-12.14%
3 Year Change	32.12%
5 Year Change	22.30%
Change since IPO	-4.64%

Recent updates

Shareholder Returns

	NMN	DE Professional Services	DE Market
7D	0.6%	-0.4%	1.9%
1Y	-12.1%	-48.2%	15.1%

Return vs Industry: NMN exceeded the German Professional Services industry which returned -48.1% over the past year.

Return vs Market: NMN underperformed the German Market which returned 15.1% over the past year.

Price Volatility

Is NMN's price volatile compared to industry and market?
NMN volatility
NMN Average Weekly Movement	3.8%
Professional Services Industry Average Movement	6.6%
Market Average Movement	4.8%
10% most volatile stocks in DE Market	11.3%
10% least volatile stocks in DE Market	2.4%

Stable Share Price: NMN has not had significant price volatility in the past 3 months compared to the German market.

Volatility Over Time: NMN's weekly volatility (4%) has been stable over the past year.

About the Company

Founded	Employees	CEO	Website
1988	1,328	Rob De Luca	mmsg.com.au

McMillan Shakespeare Limited provides salary packaging, novated leasing, disability plan management, support co-ordination, asset management, and related financial products and services in Australia and New Zealand. It operates through Group Remuneration Services, Asset Management Services, and Plan and Support Services segments. The Group Remuneration Services segment offers salary packaging and ancillary services, including novated leasing asset and finance procurement, motor vehicle administration, and other services.

McMillan Shakespeare Limited Fundamentals Summary

How do McMillan Shakespeare's earnings and revenue compare to its market cap?
NMN fundamental statistics
Market cap	€641.70m
Earnings (TTM)	€53.99m
Revenue (TTM)	€312.35m

11.9x

P/E Ratio

2.1x

P/S Ratio

Is NMN overvalued?

See Fair Value and valuation analysis

Earnings & Revenue

Key profitability statistics from the latest earnings report (TTM)
NMN income statement (TTM)
Revenue	AU$521.02m
Cost of Revenue	AU$1.08m
Gross Profit	AU$519.94m
Other Expenses	AU$429.88m
Earnings	AU$90.06m

Last Reported Earnings

Jun 30, 2024

Next Earnings Date

Feb 26, 2025

Earnings per share (EPS)	1.29
Gross Margin	99.79%
Net Profit Margin	17.28%
Debt/Equity Ratio	424.7%

How did NMN perform over the long term?

See historical performance and comparison

Dividends

10.1%

Current Dividend Yield

119%

Payout Ratio

Company Analysis and Financial Data Status

Data	Last Updated (UTC time)
Company Analysis	2025/02/02 09:59
End of Day Share Price	2025/01/31 00:00
Earnings	2024/06/30
Annual Earnings	2024/06/30

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.

Package	Data	Timeframe	Example US Source ^*
Company Financials	10 years	Income statement Cash flow statement Balance sheet	SEC Form 10-K SEC Form 10-Q
Analyst Consensus Estimates	+3 years	Forecast financials Analyst price targets	Analyst Research Reports Blue Matrix
Market Prices	30 years	Stock prices Dividends, Splits and Actions	ICE Market Data SEC Form S-1
Ownership	10 years	Top shareholders Insider trading	SEC Form 4 SEC Form 13D
Management	10 years	Leadership team Board of directors	SEC Form 10-K SEC Form DEF 14A
Key Developments	10 years	Company announcements	SEC Form 8-K

^* 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 here.

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 world class team 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 .

Analyst Sources

McMillan Shakespeare Limited is covered by 17 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.

Analyst	Institution
Hayden Nicholson	Bell Potter
Duncan Simmonds	BofA Global Research
Paul Buys	Canaccord Genuity

NMN Stock Overview

Rewards

Risk Analysis

McMillan Shakespeare Limited Competitors

XTRA:AAD

€428.1m

XTRA:CWC

€707.8m

XTRA:BFSA

€840.0m

XTRA:GBF

€1.9b

Price History & Performance

Recent News & Updates

McMillan Shakespeare Limited Appoints Elizabeth Spooner as Company Secretary

Full year 2024 earnings released: EPS: AU$1.29 (vs AU$0.89 in FY 2023)

Mcmillan Shakespeare Limited Announces Chief Financial Officer Appointments

Upcoming dividend of AU$0.76 per share

Investor sentiment improves as stock rises 22%

McMillan Shakespeare Limited to Report First Half, 2024 Results on Feb 20, 2024

Recent updates

McMillan Shakespeare Limited Appoints Elizabeth Spooner as Company Secretary

Full year 2024 earnings released: EPS: AU$1.29 (vs AU$0.89 in FY 2023)

Mcmillan Shakespeare Limited Announces Chief Financial Officer Appointments

Upcoming dividend of AU$0.76 per share

Investor sentiment improves as stock rises 22%

McMillan Shakespeare Limited to Report First Half, 2024 Results on Feb 20, 2024

First half dividend of AU$0.76 announced

First half 2024 earnings released: EPS: AU$0.63 (vs AU$0.48 in 1H 2023)

New major risk - Share price stability

Upcoming dividend of AU$0.66 per share at 7.0% yield

New minor risk - Share price stability

Mcmillan Shakespeare Limited Announces Dividend for the Six Month Ended June 30, 2023, Payable on September22, 2023

Full year 2023 earnings released: EPS: AU$0.90 (vs AU$0.91 in FY 2022)

An unknown buyer acquired Asset Finance Aggregation business of McMillan Shakespeare Limited.

Upcoming dividend of AU$0.58 per share at 10.0% yield

First half 2023 earnings released: EPS: AU$0.48 (vs AU$0.39 in 1H 2022)

McMillan Shakespeare Limited, Annual General Meeting, Oct 27, 2023

Upcoming dividend of AU$0.74 per share

McMillan Shakespeare Limited Appoints Arlene Tansey as Independent Non-Executive Director, Effective 7 November 2022

McMillan Shakespeare Limited Announces Retirement of Tim Poole From the Board of Directors, Effective 31 August 2022

Full year 2022 earnings released

McMillan Shakespeare Limited Declares Fully Franked Dividend for the Six Months Ended June 30, 2022, Payable on November 10, 2022

Investor sentiment improved over the past week

Upcoming dividend of AU$0.34 per share

McMillan Shakespeare Limited, Annual General Meeting, Oct 28, 2022

First half 2022 earnings: EPS in line with analyst expectations despite revenue beat

McMillan Shakespeare Limited Declares an Interim Fully Franked Dividend, Payable on 25 March 2022

Less than half of directors are independent

Less than half of directors are independent

Upcoming dividend of AU$0.31 per share

McMillan Shakespeare Limited (ASX:MMS) acquired Plan Tracker.

Full year 2021 earnings released: EPS AU$0.79 (vs AU$0.016 in FY 2020)

Independent Non-Executive Director has left the company

Independent Non-Executive Director has left the company

Non-Executive Director recently sold €957k worth of stock

Upcoming Dividend of AU$0.30 Per Share

First half 2021 earnings released: EPS AU$0.33 (vs AU$0.42 in 1H 2020)

McMillan Shakespeare Limited (ASX:MMS) acquired remaining 50% stake in Maxxia Limited for AUD 1.8 million.

McMillan Shakespeare Limited to Report Fiscal Year 2021 Results on Aug 24, 2021

New 90-day high: €7.85

New 90-day high: €7.80

New 90-day high: €7.45

New 90-day high: €6.10

McMillan Shakespeare Limited Announces Board Changes

McMillan Shakespeare Ltd. (ASX:MMS) entered into binding agreement to acquire United Financial Services Pty Ltd, United Financial Services Network Pty Ltd and United Financial Services (Queensland) Pty Ltd for AUD 43.1 million.

New 90-day low: €4.96

McMillan Shakespeare Limited(ASX:MMS) dropped from S&P/ASX 200 Industrials Sector Index

New 90-day low - €5.00

Full year earnings released - EPS €0.016

Full year earnings released

McMillan Shakespeare Limited Announces No Final Dividend for the Fiscal Year 2020

McMillan Shakespeare Limited (ASX:MMS) agreed to acquire the remaining 25% stake in Plan Partners from Disability Services Australia Limited for AUD 8 million.