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Smartgroup Corporation Ltd
ASX:SIQ

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Smartgroup Corporation Ltd
ASX:SIQ
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Price: 8.96 AUD 0.79%
Market Cap: AU$1.2B

EV/EBIT

10.2
Current
5%
Cheaper
vs 3-y average of 10.7

Enterprise Value to EBIT (EV/EBIT) ratio compares a company`s total enterprise value to its earnings before interest and taxes. It shows how much investors are paying for each dollar of the company`s earnings, including both equity and debt.

EV/EBIT
10.2
=
Enterprise Value
AU$1.1B
/
EBIT
AU$120.2m

Enterprise Value to EBIT (EV/EBIT) ratio compares a company`s total enterprise value to its earnings before interest and taxes. It shows how much investors are paying for each dollar of the company`s earnings, including both equity and debt.

EV/EBIT
10.2
=
Enterprise Value
AU$1.1B
/
EBIT
AU$120.2m

Valuation Scenarios

Smartgroup Corporation Ltd is trading below its 3-year average

If EV/EBIT returns to its 3-Year Average (10.7), the stock would be worth AU$9.4 (5% upside from current price).

Statistics
Positive Scenarios
4/4
Maximum Downside
No Downside Scenarios
Maximum Upside
+65%
Average Upside
34%
Scenario EV/EBIT Value Implied Price Upside/Downside
Current Multiple 10.2 AU$8.96
0%
3-Year Average 10.7 AU$9.4
+5%
5-Year Average 10.7 AU$9.47
+6%
Industry Average 16.3 AU$14.34
+60%
Country Average 16.8 AU$14.81
+65%

Forward EV/EBIT
Today’s price vs future ebit

Today's Enterprise Value EBIT Forward EV/EBIT
AU$1.1B
/
Jan 2026
AU$120.2m
=
10.2
Current
AU$1.1B
/
Dec 2026
AU$126.7m
=
9
Forward
AU$1.1B
/
Dec 2027
AU$136.7m
=
8.3
Forward
AU$1.1B
/
Dec 2028
AU$143.8m
=
7.9
Forward

Forward EV/EBIT shows whether today’s EV/EBIT still looks high or low once future ebit are taken into account.

Peer Comparison

All Multiples
EV/EBIT
P/E
All Countries
Close
Market Cap EV/EBIT P/E
AU
Smartgroup Corporation Ltd
ASX:SIQ
1.2B AUD 10.2 14.6
JP
Recruit Holdings Co Ltd
TSE:6098
11.2T JPY 19.4 26.9
NL
Randstad NV
AEX:RAND
4.5B EUR 10.5 15.3
US
Robert Half Inc
SWB:RHJ
4.1B EUR 57.5 36.6
CN
51job Inc
F:IWQ
3.9B EUR 39.9 49
CH
Adecco Group AG
SIX:ADEN
3.2B CHF 9.5 11.6
PL
Benefit Systems SA
WSE:BFT
12.9B PLN 19.7 22.5
US
Korn Ferry
NYSE:KFY
3.5B USD 7.5 13
JP
Persol Holdings Co Ltd
TSE:2181
537B JPY 7.8 13.6
JP
TechnoPro Holdings Inc
TSE:6028
502.9B JPY 19.2 30.7
SG
Jinhai International Group Holdings Ltd
HKEX:2225
24B HKD -230.1 -230.3
EV/EBIT Multiple
EBIT Growth EV/EBIT to Growth
AU
S
Smartgroup Corporation Ltd
ASX:SIQ
Average EV/EBIT: 20.1
10.2
6%
1.7
JP
Recruit Holdings Co Ltd
TSE:6098
19.4
N/A N/A
NL
R
Randstad NV
AEX:RAND
10.5
17%
0.6
US
R
Robert Half Inc
SWB:RHJ
57.5
73%
0.8
CN
5
51job Inc
F:IWQ
39.9
N/A N/A
CH
A
Adecco Group AG
SIX:ADEN
9.5
16%
0.6
PL
B
Benefit Systems SA
WSE:BFT
19.7
9%
2.2
US
Korn Ferry
NYSE:KFY
7.5
10%
0.7
JP
P
Persol Holdings Co Ltd
TSE:2181
7.8
N/A N/A
JP
TechnoPro Holdings Inc
TSE:6028
19.2
N/A N/A
SG
Jinhai International Group Holdings Ltd
HKEX:2225
Negative Multiple: -230.1 N/A N/A

Market Distribution

Lower than 72% of companies in Australia
Percentile
28th
Based on 1 236 companies
28th percentile
10.2
Low
0 — 10.7
Typical Range
10.7 — 24.5
High
24.5 —
Distribution Statistics
Australia
Min 0
30th Percentile 10.7
Median 16.8
70th Percentile 24.5
Max 6 797.5

Smartgroup Corporation Ltd
Glance View

Smartgroup Corp. Ltd. engages in the provision of employee benefits and workforce optimization services. The company is headquartered in Sydney, New South Wales and currently employs 576 full-time employees. The company went IPO on 2014-07-02. The firm operates through three segments: Outsourced administration (OA), Vehicle services (VS) and Software, distribution and group services (SDGS). OA segment provides outsourced salary packaging services, novated leasing, share plan administration and outsourced payroll services. VS segment provides end-to-end fleet management services. SDGS segment provides salary packaging software solutions, which include the marketing of salary packaging debit cards, distribution of vehicle insurances and workforce management software to the healthcare industry.

SIQ Intrinsic Value
8.5 AUD
Overvaluation 5%
Intrinsic Value
Price AU$8.96
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