McMillan Shakespeare (MMS) H1 2026 earnings summary

Executive summary

• Revenue increased 11.2% year-over-year to $297.4m/AUD 200m, with growth across all segments and the inclusion of Onboard Finance.

• Statutory NPAT rose 9.7% to $49.6m, and UNPATA grew 1.4% to $50.3m; EPS increased 1.4% to 72.3c.

• Strategic investments in technology and automation drove operational efficiency, digital adoption, and improved customer experience.

• Fully franked interim dividend of 62c per share declared, with a 7.2% yield and an on-market share buyback of up to $10m announced.

• All key customer metrics improved, including salary packages, novated leases, and digital interactions.

Financial highlights

• Revenue up 11.2% year-over-year to $297.4m/AUD 200m, driven by segment growth and Onboard Finance.

• EBITDA increased 4.8% to $84.7m; operating income up 4.4% to $210.1m.

• UNPATA rose 1.4% to $50.3m; statutory NPAT up 9.7% to $49.6m.

• Cost to income ratio improved to 59.7%; ROCE at 62.8%, up 110bps.

• Underlying EPS up 1.4% to 72.3c; net debt to EBITDA at 0.4x.

Outlook and guidance

• 2HFY26 UNPATA expected to benefit from customer growth, increased Onboard Finance receivables, and efficiency gains.

• Monitoring government reviews of Electric Car Discount scheme and NDIS pricing.

• Disciplined investment in strategic priorities, technology, and customer experience, with up to $10m share buyback planned.