McMillan Shakespeare Valuation Multiples

McMillan Shakespeare Overview

About McMillan Shakespeare

McMillan Shakespeare is a provider of salary packaging, novated leasing, disability plan management and support co-ordination, and fleet management services. It actively works to cross-sell its products to clients, for example, selling its salary packaging services to its fleet management customers in Australia and New Zealand. McMillan dominates Australia’s salary packaging market together with Smartgroup (also covered by Morningstar), and is also a large provider of novated leasing services by volumes—together with Smartgroup and SG Fleet. The group has three operating segments: group remuneration services, asset management services, and plan and support services. Most of the group’s revenue is generated from the group remuneration services segment.

Founded

2003

HQ

Employees

1.3K

Website

mmsg.com.au

Sectors

BPO ServicesProductivity SoftwareRecruitment & StaffingB2B SaaSFinTechHorizontal SaaS

Financials (LTM)

Revenue: $401M

EBITDA: $120M

EV

$1B

Valuation Multiples

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McMillan Shakespeare Financials

McMillan Shakespeare reported last 12-month revenue of $401M and EBITDA of $120M.

In the same LTM period, McMillan Shakespeare generated $381M in gross profit, $120M in EBITDA, and $72M in net income.

McMillan Shakespeare P&L

In the most recent fiscal year, McMillan Shakespeare reported revenue of $354M and EBITDA of $172M.

McMillan Shakespeare expects next 12-month revenue of XXX and NTM EBITDA of XXX

McMillan Shakespeare Stock Performance

McMillan Shakespeare has current market cap of $786M, and enterprise value of $1B.

McMillan Shakespeare's stock price is $11.29.

McMillan Shakespeare Valuation Multiples

McMillan Shakespeare trades at 3.2x EV/Revenue multiple, and 10.8x EV/EBITDA.

McMillan Shakespeare Financial Valuation Multiples

As of March 21, 2026, McMillan Shakespeare has market cap of $786M and EV of $1B.

Equity research analysts estimate McMillan Shakespeare's 2025E EV/Revenue multiple at XXX and 2025E EV/EBITDA multiple at XXX

McMillan Shakespeare has a P/E ratio of 10.9x.

McMillan Shakespeare Margins & Growth Rates

McMillan Shakespeare's revenue in the last 12 month grew by 8%.

McMillan Shakespeare's revenue per employee in the last FY averaged $0.3M.

McMillan Shakespeare's rule of 40 is 37% (metric relevant for SaaS companies only, counted as combined revenue growth rate and EBITDA margin).

McMillan Shakespeare's rule of X is 49% (created by Bessemer, rule of X is another metric to measure SaaS companies, ~1.5x stronger vs. the traditional Rule of 40, counted as revenue growth rate multiplied by 2.5 plus EBITDA margin).

McMillan Shakespeare Public Comps

See public comps and valuation multiples for other BPO Services and Productivity Software comps.

McMillan Shakespeare M&A Activity

McMillan Shakespeare acquired XXX companies to date.

Last acquisition by McMillan Shakespeare was on XXXXXXXX, XXXXX. McMillan Shakespeare acquired XXXXXXXX for XXX (EV/Revenue multiple of XXX).

McMillan Shakespeare Investment Activity

McMillan Shakespeare invested in XXX companies to date.

McMillan Shakespeare made its latest investment on XXXXXXXX, XXXXX. McMillan Shakespeare invested in XXXXXXXX for XXX (EV/Revenue multiple of XXX).