Smartgroup posts record Q1 as novated leasing and EV demand accelerate

Smartgroup Corporation Ltd ( (AU:SIQ) ) just unveiled an update.

Smartgroup reported a strong start to 2026, with average monthly revenue up 8% on the prior corresponding quarter and novated leasing settlements rising 7%, while new novated leasing orders jumped 22%. The company highlighted robust demand across its client base, full retention of significant customers, new client wins and growing momentum in its fleet business, supported by ongoing investment in technology including the launch of a new mobile app.

The group noted that most new battery electric vehicle orders remained in lower price brackets, underscoring the importance of the Australian Government’s Electric Car Discount Policy in enabling essential workers to access EVs and manage living costs. Looking ahead, Smartgroup sees favourable operating conditions but is monitoring macroeconomic risks, and it is targeting EBITDA margins in the mid‑40% range by 2027 as it continues to scale its capital‑light, digital platform.

The most recent analyst rating on (AU:SIQ) stock is a Hold with a A$9.10 price target. To see the full list of analyst forecasts on Smartgroup Corporation Ltd stock, see the AU:SIQ Stock Forecast page.

More about Smartgroup Corporation Ltd

Smartgroup Corporation Ltd is an Australian provider of employee services and fleet solutions, with a core focus on novated leasing and salary packaging for workers across sectors such as healthcare, education and not‑for‑profit. The group is increasingly emphasising digital platforms, automation and AI to enhance customer engagement, service delivery and efficiency in a competitive, capital‑light market.

Average Trading Volume: 519,186

Technical Sentiment Signal: Buy

Current Market Cap: A$1.27B

For an in-depth examination of SIQ stock, go to TipRanks’ Overview page.