Smartgroup Corporation Ltd
SIQ: XASX (AUS)
Morningstar Rating for Stocks | Fair Value | Economic Moat | Capital Allocation |
---|---|---|---|
A$8.30 | Nrqjq | Hpjsvxnzg |
Smartgroup: Market Heeding Downside Risks
Since August 2023, we have believed that the market was underestimating no-moat Smartgroup’s labor intensity while overestimating its ability to grow novated leasing yields—mainly transactional revenue from facilitating novated leases for employees.