MCMILLAN SHAKESPEARE LIMITED (MMS)
Share Price Analysis and Chart

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MMS

MMS - MCMILLAN SHAKESPEARE LIMITED

FNArena Sector : Vehicle Leasing & Salary Packaging
Year End: June
GICS Industry Group : Commercial & Professional Services
Debt/EBITDA: 2.92
Index: ASX300 | ALL-ORDS

McMillan Shakespeare is an Australian provider of salary packaging, novated leasing and asset management. Founded in 1988, the company listed on the ASX in 2004.

LAST PRICE CHANGE +/- CHANGE % VOLUME

$16.02

19 Jun
2025

-0.080

OPEN

$16.29

-0.50%

HIGH

$16.29

103,562

LOW

$15.95

TARGET
$18.388 14.8% upside
Franking for last dividend paid out: 100%
OTHER COMPANIES IN THE SAME SECTOR
FPR . SIQ .
FNARENA'S MARKET CONSENSUS FORECASTS
MMS: 1
Title FY23
Actual		 FY24
Actual		 FY25
Forecast		 FY26
Forecast
EPS (cps) xxx 120.0 141.0 xxx
DPS (cps) xxx 154.0 126.8 xxx
EPS Growth xxx 100.0% 17.5% xxx
DPS Growth xxx 24.2% - 17.6% xxx
PE Ratio xxx N/A 10.7 xxx
Dividend Yield xxx N/A 8.4% xxx
Div Pay Ratio(%) xxx 128.4% 90.0% xxx

Dividend yield today if purchased 3 years ago: 16.40%

DIVIDEND YIELD CALCULATOR

Dividend Yield Today On Last Actual Payout :

 10.21

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: 12/09 - ex-div 78c (franking 100%)

HISTORICAL DATA ARE ALL IN AUD
Copyright © 2025 FactSet UK Limited. All rights reserved
Title 201920202021202220232024
EPS Basic xxxxxxxxxxxxxxx120.0
DPS All xxxxxxxxxxxxxxx154.0
Sales/Revenue xxxxxxxxxxxxxxx498.2 M
Book Value Per Share xxxxxxxxxxxxxxx185.0
Net Operating Cash Flow xxxxxxxxxxxxxxx-106.0 M
Net Profit Margin xxxxxxxxxxxxxxx18.08 %

EPS Basic

DPS All

Sales/Revenue

Book Value Per Share

Net Operating Cash Flow

Net Profit Margin

Title 201920202021202220232024
Return on Capital Employed xxxxxxxxxxxxxxx65.63 %
Return on Invested Capital xxxxxxxxxxxxxxx15.38 %
Return on Assets xxxxxxxxxxxxxxx7.66 %
Return on Equity xxxxxxxxxxxxxxx65.63 %
Return on Total Capital xxxxxxxxxxxxxxx22.42 %
Free Cash Flow ex dividends xxxxxxxxxxxxxxx-205.8 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 201920202021202220232024
Short-Term Debt xxxxxxxxxxxxxxx8 M
Long Term Debt xxxxxxxxxxxxxxx580 M
Total Debt xxxxxxxxxxxxxxx588 M
Goodwill - Gross xxxxxxxxxxxxxxx216 M
Cash & Equivalents - Generic xxxxxxxxxxxxxxx556 M
Price To Book Value xxxxxxxxxxxxxxx9.47

Short-Term Debt

Long Term Debt

Total Debt

Goodwill - Gross

Cash & Equivalents - Generic

Price To Book Value

Title 201920202021202220232024
Capex xxxxxxxxxxxxxxx21.6 M
Capex % of Sales xxxxxxxxxxxxxxx4.34 %
Cost of Goods Sold xxxxxxxxxxxxxxx310 M
Selling, General & Admin. Exp & Other xxxxxxxxxxxxxxx55 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

5
BROKER DATE RATING RECOMMENDATION TARGET PRICE % TO REACH TARGET COMMENTARY

Morgan Stanley

xx/xx/xxxx

1

xxxxxxxxxx

$xx.xx

xx.xx%

Broker commentary and detailed analysis is available for Full Members Only.
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Bell Potter

xx/xx/xxxx

3

xxxx

$xx.xx

xx.xx%

Broker commentary and detailed analysis is available for Full Members Only.
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Ord Minnett

28/02/2025

2

Accumulate

$19.00

18.60%

McMillan Shakespeare is gaining momentum, Ord Minnett observes, and second half guidance was a positive surprise given concerns around the slowdown in new car deliveries into Australia, as well as ongoing inflation pressures.

Guidance is for underlying net profit to exceed the first half's $49.6m. New car orders in December and January were up 19% on average, which the broker suggests is a strong lead into the second half. Accumulate retained. Target is unchanged at $19.

FORECAST
Ord Minnett forecasts a full year FY25 dividend of 145.00 cents and EPS of 142.30 cents.
Ord Minnett forecasts a full year FY26 dividend of 147.00 cents and EPS of 142.90 cents.

Macquarie

xx/xx/xxxx

1

xxxxxxxxxx

$xx.xx

xx.xx%

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Citi

xx/xx/xxxx

1

xxx

$xx.xx

xx.xx%

Broker commentary and detailed analysis is available for Full Members Only.
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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

19/12/2024

3

Hold

$14.70

-8.24%

Canaccord Genuity made modest changes to McMillan Shakespeare's FY25-27 earnings estimates but cut the target price significantly due to reduced multiples and a -12% discount to valuation.

The broker says valuations are becoming compelling but industry, macro and company-specific uncertainties are preventing a more positive view.

Looking ahead, the broker reckons a stronger and more certain earnings outlook would attract sufficient interest to re-rate the stock materially upwards.

The target falls to $14.70 from $18.50..

FORECAST
Canaccord Genuity forecasts a full year FY25 dividend of 139.00 cents and EPS of 141.00 cents.
Canaccord Genuity forecasts a full year FY26 dividend of 140.00 cents and EPS of 143.00 cents.
Access Extra Coverage Research History >

MMS STOCK CHART

FNArena News on MMS

Latest Vehicle Leasing & Salary Packaging News

1
Eclipx Group Earnings Driving In The Fast Lane

May 11 2022 - Australia
2
Smartgroup Dashes Offer To Focus On Growth

Oct 26 2021 - Small Caps
3
Eclipx On Route To Stellar Earnings

Mar 11 2021 - Australia
4
EclipX Driving Growth More Efficiently

Nov 13 2020 - Small Caps
5
Smartgroup Succumbs To Insurance Changes

Dec 17 2019 - Australia
6
EclipX Progresses Along Road To Recovery

Nov 15 2019 - Small Caps
7
Waxing Interest In EclipX

Oct 08 2019 - Small Caps
8
Margins Colour McMillan Shakespeare’s Outlook

Aug 23 2019 - Australia
9
Smartgroup Cruising Comfortably

Aug 21 2019 - Small Caps
10
Divestment Lauded As EclipX Reduces Risk

Jul 09 2019 - Small Caps