McMillan Shakespeare Ltd

MMS: XASX (AUS)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
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McMillan Shakespeare: Volumes Strong, but Falling Yields and Shrinking Tax Break a Risk

Shaun Ler

Oct 23, 2026

McMillan Shakespeare gave a first-quarter trading update at its annual general meeting. Novated lease sales rose 14%, the novated lease base rose 18% to 95,000 and salary packages rose 7%, while fleet units rose 2%. Novated leasing yield fell 4% and vehicle remarketing profits fell 15%.

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McMillan Shakespeare Ltd

McMillan Shakespeare: Volumes Strong, but Falling Yields and Shrinking Tax Break a Risk

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