Stock MRVGF MIRVAC GROUP
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Financials Mirvac Group OTC Markets

Equities

MRVGF

AU000000MGR9

Diversified REITs

Delayed OTC Markets
Other stock markets
 13:41:59 2024-03-27 EDT 		5-day change 1st Jan Change
1.45 USD +5.07% Intraday chart for Mirvac Group -.--% +2.84%
05-09 Keppel REIT Sub-Trust 8 acquired 50% stake in 255 George Street, a freehold Grade A office building in Sydney, Australia from Mirvac Wholesale Office Fund I which is managed by Mirvac Group. CI
05-02 CLSA Upgrades Mirvac Group to Reduce from Sell, Price Target is AU$2.02 MT

Valuation

Fiscal Period: Juni 2019 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 12,239 8,533 11,498 7,788 8,918 7,694 - -
Enterprise Value (EV) 1 15,553 12,509 15,303 11,521 13,336 12,090 12,380 12,670
P/E ratio 11.3 x 15.3 x 12.8 x 8.59 x -53.8 x 14.2 x 13.6 x 11.7 x
Yield 3.71% 4.19% 3.39% 5.16% 4.65% 5.37% 5.4% 5.77%
Capitalization / Revenue 14.1 x 11.1 x 14.7 x 9.91 x 11.5 x 8.47 x 8.51 x 7.86 x
EV / Revenue 17.9 x 16.2 x 19.6 x 14.7 x 17.2 x 13.3 x 13.7 x 12.9 x
EV / EBITDA 17.3 x 14.3 x 19.7 x 13.5 x 15.9 x 14.5 x 14.7 x 13.9 x
EV / FCF - 27.7 x 24.2 x 13 x -222 x 27.4 x - -
FCF Yield - 3.61% 4.13% 7.72% -0.45% 3.66% - -
Price to Book 1.24 x 0.84 x 1.09 x 0.7 x 0.84 x 0.7 x 0.68 x 0.66 x
Nbr of stocks (in thousands) 3,910,134 3,932,383 3,937,557 3,943,403 3,945,860 3,945,860 - -
Reference price 2 3.130 2.170 2.920 1.975 2.260 1.950 1.950 1.950
Announcement Date 8/7/19 8/19/20 8/11/21 8/10/22 8/15/23 - - -
1AUD in Million2AUD
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: Juni 2019 2020 2021 2022 2023 2024 2025 2026
Net sales 1 867 771 781 786 777 908.6 904.7 979.1
EBITDA 1 901 872 775 856 840 834.1 842.6 909
EBIT 1 849 796 704 773 767 826.8 821.8 902.3
Operating Margin 97.92% 103.24% 90.14% 98.35% 98.71% 91% 90.84% 92.16%
Earnings before Tax (EBT) 1 1,072 583 934 985 -182 323.8 604.1 651.6
Net income 1 1,019 558 901 906 -165 538.5 558.9 637.7
Net margin 117.53% 72.37% 115.36% 115.27% -21.24% 59.26% 61.79% 65.13%
EPS 2 0.2760 0.1420 0.2290 0.2300 -0.0420 0.1377 0.1438 0.1674
Free Cash Flow 1 - 451 632 889 -60 442 - -
FCF margin - 58.5% 80.92% 113.1% -7.72% 48.64% - -
FCF Conversion (EBITDA) - 51.72% 81.55% 103.86% - 52.99% - -
FCF Conversion (Net income) - 80.82% 70.14% 98.12% - 82.08% - -
Dividend per Share 2 0.1160 0.0910 0.0990 0.1020 0.1050 0.1047 0.1054 0.1126
Announcement Date 8/7/19 8/19/20 8/11/21 8/10/22 8/15/23 - - -
1AUD in Million2AUD
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: Juni 2020 S1 2020 S2 2021 S1 2021 S2 2022 S1 2022 S2 2023 S1 2023 S2 2024 S1 2024 S2 2025 S1
Net sales - 381 534.3 - - - - 378 - - -
EBITDA - - - - - - - - - - -
EBIT - 336 395.7 - - 382 - - - - -
Operating Margin - 88.19% 74.06% - - - - - - - -
Earnings before Tax (EBT) - - - - - - - - - - -
Net income 613 - 351.5 - 565 - - - - - -
Net margin - - 65.79% - - - - - - - -
EPS 0.1560 - 0.0890 - 0.1430 - 0.0545 - - - -
Dividend per Share 1 0.0610 0.0300 0.0480 0.0495 0.0510 0.0510 0.0520 0.0530 0.0450 0.0600 0.0600
Announcement Date 2/5/20 8/19/20 2/11/21 8/11/21 2/9/22 8/10/22 2/8/23 8/15/23 2/7/24 - -
1AUD
Estimates

Balance Sheet Analysis

Fiscal Period: Juni 2019 2020 2021 2022 2023 2024 2025 2026
Net Debt 1 3,314 3,976 3,805 3,733 4,418 4,396 4,685 4,976
Net Cash position 1 - - - - - - - -
Leverage (Debt/EBITDA) 3.678 x 4.56 x 4.91 x 4.361 x 5.26 x 5.27 x 5.561 x 5.474 x
Free Cash Flow 1 - 451 632 889 -60 442 - -
ROE (net income / shareholders' equity) 11% 5.59% 5.32% 5.49% 5.35% 5.09% 5.08% 5.41%
ROA (Net income/ Total Assets) 3.28% 3.74% 3.51% 3.6% 3.4% 3.8% 3.89% 4.01%
Assets 1 31,067 14,913 25,640 25,172 -4,849 14,165 14,363 15,912
Book Value Per Share 2 2.520 2.570 2.690 2.820 2.680 2.770 2.880 2.960
Cash Flow per Share 2 0.1400 0.1200 0.1600 0.2300 -0.0100 0.0900 0.1100 0.1000
Capex 1 - 700 634 7 3 151 143 144
Capex / Sales - 90.79% 81.18% 0.89% 0.39% 16.61% 15.76% 14.73%
Announcement Date 8/7/19 8/19/20 8/11/21 8/10/22 8/15/23 - - -
1AUD in Million2AUD
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Ratings for Mirvac Group

Trading Rating
Investor Rating
ESG Refinitiv
More Ratings

Analysts' Consensus

Sell
Consensus
Buy
Mean consensus
OUTPERFORM
Number of Analysts
11
Last Close Price
1.95 AUD
Average target price
2.3 AUD
Spread / Average Target
+17.94%
Consensus

EPS Revisions

Estimates Revisions

Quarterly earnings - Rate of surprise

Company calendar

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  1. Stock Market
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  5. Financials Mirvac Group