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Undervalued
Morningstar Quantitative Rating as of 6 NOV 2026.
Quantitative Equity Rating Methodology – view here
Five-star price 4.70 Fair value 6.44 One-star price 8.84
Morningstar Quantitative Rating as of 6 NOV 2026.
Morningstar Quantitative Rating as of 6 NOV 2026. The slider runs from the five-star price (4.70) to the one-star price (8.84).
| Ratios |
|---|
| Currency (Price/reporting): AUD/AUD |
| Exchange Rate: 1.0000 |
| Price - closing or last bid | 3.41 |
| Price - 12 month high | 7.03 |
| Price - 12 month low | 2.47 |
| Pricing date | 5 NOV 2026 |
| Volume - avg. trading volume for the last ten days | 1.86 |
| Market capitalization | 965.32 |
| 12 Month High price date | 12 NOV 2025 |
| 12 Month Low price date | 15 OCT 2026 |
| Volume - avg. trading volume for the last 3 months | 1.66 |
| Price - 1 Day % Change | -5.54% |
| Price - 13 week price percent change | -7.59% |
| Price - 26 week price percent change | 14.81% |
| Price - 5 Day % Change | 0.29% |
| Price - 52 week price percent change | -49.78% |
| Price - YTD price percent change | -43.91% |
| Price % Change Month To Date | 25.37% |
| EPS excluding extraordinary items - most recent fiscal year | -0.040 |
| EPS excluding extraordinary items - trailing 12 month | -0.040 |
| EPS Normalized - most recent fiscal year | -0.028 |
| Revenue/share - most recent fiscal year | 0.979 |
| Revenue/share - trailing 12 month | 0.979 |
| Book value per share - most recent fiscal year | 0.214 |
| Book value per share - most recent half-year | 0.214 |
| Book value (tangible) per share - most recent fiscal year | -0.030 |
| Book value (tangible) per share - most recent half-year | -0.030 |
| Cash per share - most recent fiscal year | 0.116 |
| Cash per share - most recent half-year | 0.116 |
| Cash Flow per share - most recent fiscal year | 0.147 |
| Cash Flow per share - trailing 12 month | 0.147 |
| Dividend per share - most recent fiscal year | — |
| Dividends per share - trailing 12 month | 0.000 |
| EBITD per share - trailing 12 month | 0.090 |
| EPS Basic excluding extraordinary items - most recent fiscal year | -0.040 |
| EPS Basic excluding extraordinary items - trailing 12 month | -0.040 |
| EPS including extraordinary items - most recent fiscal year | -0.040 |
| EPS including extraordinary items - trailing 12 month | -0.040 |
| Free Cash Flow per share - trailing 12 month | 0.020 |
| P/E excluding extraordinary items, most recent fiscal year | — |
| P/E Normalized, most recent fiscal year | — |
| Price to sales - most recent fiscal year | 3.48 |
| Price to Tangible Book - most fiscal year | — |
| Price to Free Cash Flow per Share - most recent fiscal year | 174.12 |
| Price to Cash Flow per share - trailing 12 month | 23.27 |
| Price to Book - most recent fiscal year | 15.91 |
| P/E excluding extraordinary items high, trailing 12 months | — |
| P/E excluding extraordinary items low, trailing 12 months | — |
| Net Debt, LFI | -27.77 |
| Net Debt, LFY | -19.73 |
| Dividend Yield - 5 Year Average | — |
| Dividend Yield - indicated annual dividend divided by closing price | — |
| Current Dividend Yield - Common Stock Primary Issue, LTM | 0.00% |
| Free Cash Flow - most recent fiscal year | 5.32 |
| LT debt/equity - most recent fiscal year | 13.96% |
| Payout ratio - most recent fiscal year | — |
| Total debt/total equity - most recent fiscal year | 20.91% |
| LT debt/equity - most recent half-year | 2.32% |
| Total debt/total equity - most recent half-year | 12.05% |
| Free Cash Flow - trailing 12 month | 5.32 |
| Payout ratio - trailing 12 month | — |
| Revenue - most recent fiscal year | 266.06 |
| Revenue - trailing 12 month | 266.06 |
| EBITD - most recent fiscal year | 24.36 |
| EBITD - trailing 12 month | 24.36 |
| Earnings before taxes - most recent fiscal year | -9.78 |
| Earnings before taxes - trailing 12 month | -9.78 |
| Net Income available to common - most recent fiscal year | -11.34 |
| Net Income available to common - trailing 12 months | -11.34 |
| Earnings before taxes Normalized - most recent fiscal year | 0.19 |
| Net Income Available to Common, Normalized - most recent fiscal year | -7.58 |
| Earnings per Share, Normalized, Excluding Extraordinary Items, Avg. Diluted Shares Outstanding, TTM | -0.03 |
| Net Profit Margin % - 1st historical fiscal year | -4.26% |
| Net Profit Margin % - trailing 12 month | -4.26% |
| Operating margin - 1st historical fiscal year | -3.56% |
| Operating margin - trailing 12 month | -3.56% |
| Pretax margin - trailing 12 month | -3.67% |
| Pretax margin - 1st historical fiscal year | -3.67% |
| Operating Margin - 5 year average | -20.35% |
| Pretax Margin - 5 year average | -31.04% |
| Free Operating Cash Flow/Revenue, 5 Year Average | -15.40% |
| Free Operating Cash Flow/Revenue, TTM | 2.00% |
| Net Profit Margin - 5 year average | -31.21% |
| Return on average assets - most recent fiscal year | -8.24% |
| Return on average assets - trailing 12 month | -8.24% |
| Return on average equity - most recent fiscal year | -19.35% |
| Return on average equity - trailing 12 month | -19.35% |
| Return on average assets - 5 year average | -30.03% |
| Return on average equity - 5 year average | -47.80% |
| Net Income/employee - most recent fiscal year | — |
| Revenue/employee - most recent fiscal year | — |
| Revenue growth rate, 5 year | — |
| EPS growth rate, 5 year | — |
| Growth rate% - dividend, 3 year | — |
| Revenue/share (5 yr growth) | — |
| Growth rate% - Revenue, 3 year | 20.63% |
| Growth rate% - EPS, 3 year | — |
| Book value per share growth rate, 5 year | — |
| Capital Spending growth rate, 5 year | — |
| Earnings Before Interest, Taxes, Depreciation & Amortization, 5 Year CAGR | — |
Financial forecast (AUD, millions except per share)
| Actuals | Estimates | |||||||
| 2026 | 2027 | 2028 | 2029 | |||||
| Estimate breakdown | ||||||||
Financials (AUD, millions)
| Period end: | JUN 22 | JUN 23 | JUN 24 | JUN 25 | JUN 26 |
| Fiscal year: | 2022 | 2023 | 2024 | 2025 | 2026 |
| Period length: | 12 months | 12 months | 12 months | 12 months | 12 months |
Announcements
| DATE | TIME | HEADING | PAGES |
| Price sensitive |
SDR +18.12%: rallied nicely today (from a low base) following today’s AGM, with the market responding positively to clearer guidance around the company’s medium-term growth ambitions. The key change was management sharpening its language around ARR growth, helping address concerns that momentum was fading after a disappointing FY26 result.
SiteMinder’s FY26 result yesterday was disappointing, with misses across revenue, Average Reoccurring Revenue (ARR) and EBITDA, but the bigger issue for us is the change in the growth narrative. SDR has spent the past few years positioning itself as a 30% growth business; that ambition has now effectively been retired, with management guiding to ARR growth of 20–29% in FY27 and an ARR CAGR “in the 20s” through FY30. For a growth stock, stepping back from previously stated growth ambitions is not a good development.
SiteMinder (SDR) is a leading hotel software platform that connects accommodation providers with online travel agents, booking channels and guests, helping maximise occupancy and revenue. The stock surged +10% on Wednesday, extending its strong but volatile recovery from recent lows - not one for the faint-hearted! We discussed SDR in detail a few weeks ago here, after they launched “ SiteMinder Powered”, which was well received by the market.
SDR +8.61%: was one of the stronger performers on the market today, with the stock rallying after announcing the launch of SiteMinder Powered, a new capability that allows selected hospitality technology companies to embed SiteMinder’s distribution engine directly into their own platforms.
SiteMinder is a global hotel software platform that helps accommodation providers manage room bookings, pricing and online distribution across channels like Booking.com, Expedia and Airbnb. The company makes money through recurring SaaS subscription fees and transaction-based revenue tied to hotel bookings processed through its platform - therein lieth the problem, it sits right in the middle of the “AI Disruption Trade” having been rerated significantly lower along with many in the same growth sector, while at the same time revenue for this $750mn business is set to increase more than 50% over 2-years to ~$340mn in FY27 as it executes well.
SiteMinder tells a similar story - quality business, punished share price - though the cause is different. Where Life360 was hit on a specific result, SiteMinder has been caught in the broader de-rating of smaller-cap SaaS names. The stock is now trading around $3.51, well below our entry point of $5.80 - a meaningful drawdown.
SDR +10.5% delivered another step forward on profitability, materially narrowing losses and more than doubling underlying EBITDA, though the result fell slightly short of market expectations at the earnings line.
SDR +2.5%: reaffirmed that the strength seen into the end of FY25 has continued into the new financial year:
Unlike some tech stocks mentioned earlier SDR has remained firm of late but if the recent selling of ASX growth names spreads SDR could become a victim. SDR is another ~$2bn stock which MM holds in its Emerging Companies Portfolio, that now resides in the ASX200, making it a candidate for our Active Growth Portfolio.
Australian-based hotel technology company SDR provides cloud-based software to help hotels and other accommodation providers manage and grow their bookings.
MM remains long & bullish SDR
MM now has SDR on watch ~$3.40, more inclined to cut on lower growth expectations
MM is long and bullish towards SDR around $4
MM remains long & bullish SDR
MM is long and bullish SDR around $2.60
MM is looking to add to SDR ~$3.50
MM remains patient holders of SDR ~$3.25
MM remains long & bullish SDR
MM is long and bullish towards SDR
MM remains long and bullish SDR
SiteMinder is a technology company that provides e-commerce software for the global hotel industry. SiteMinder is the world's largest e-commerce software provider for small and midsize accommodation businesses and provides over 50,000 accommodation businesses with a comprehensive suite of tools to increase their room utilization, rates, and profitability.
PULSE CHECK WEBINAR: Portfolio positioning towards FY26
FY26 is shaping up as a year where strategic portfolio positioning will matter more than ever. Hear from James Gerrish & Shawn Hickman as they detail MM's current views.
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