Company Valuation: Mirvac Group

Data adjusted to current consolidation scope
Fiscal Period: June 2022 2023 2024 2025 2026 2027 2028 2029
Market Cap 1 7,788 8,918 7,379 8,681 6,787 7,162 - -
Change - 14.51% -17.26% 17.65% -21.82% 5.52% - -
Enterprise Value (EV) 1 11,521 13,336 11,524 12,909 10,337 11,032 11,086 11,276
Change - 15.76% -13.59% 12.02% -19.92% 6.72% 0.49% 1.71%
P/E 8.59x -53.8x -9.17x 129x 10x 12.5x 11x 10.9x
PBR 0.7x 0.84x 0.79x 0.96x 0.73x 0.71x 0.68x 0.66x
PEG - 0x -0x -1x 0x -0.8x 0.9x 11.95x
Capitalization / Revenue 9.91x 11.5x 10.5x 13.5x 10.6x 7.31x 6.89x 6.63x
EV / Revenue 14.7x 17.2x 16.3x 20x 16.1x 11.3x 10.7x 10.4x
EV / EBITDA 13.5x 15.9x 12.3x 16x 11.6x 12.9x 12x 12.2x
EV / EBIT 14.9x 17.4x 13.4x 17.5x 12.5x 12.8x 11.9x 12x
EV / FCF 13x -222x 21.3x 23.6x 11.9x 63.1x 40.7x 56.5x
FCF Yield 7.72% -0.45% 4.69% 4.25% 8.43% 1.59% 2.45% 1.77%
Dividend per Share 2 0.102 0.105 0.105 0.09 0.095 0.1008 0.1072 0.1123
Rate of return 5.16% 4.65% 5.61% 4.09% 5.52% 5.55% 5.91% 6.19%
EPS 2 0.23 -0.042 -0.204 0.017 0.172 0.1458 0.1645 0.166
Distribution rate 44.3% -250% -51.5% 529% 55.2% 69.1% 65.2% 67.7%
Net sales 1 786 777 705 644 641 980.3 1,039 1,080
EBITDA 1 856 840 935 805 889 855.9 926.5 923.6
EBIT 1 773 767 860 736 826 861.1 930.9 936.3
Net income 1 906 -165 -805 68 677 573.5 628.4 629
Net Debt 1 3,733 4,418 4,145 4,228 3,550 3,870 3,925 4,115
Reference price 2 1.975 2.260 1.870 2.200 1.720 1.815 1.815 1.815
Nbr of stocks (in thousands) 3,943,069 3,945,860 3,945,860 3,945,860 3,945,860 3,945,860 - -
Announcement Date 8/10/22 8/15/23 8/7/24 8/14/25 8/18/26 - - -
1AUD in Million2AUD
Estimates

P/E, Detailed evolution



P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
23.43x13.45x15.71x5.3% 16.07B
8.23x13.7x17.69x6.39% 6.6B
22.7x14.24x15.97x4.25% 6.46B
11.83x14.33x15.27x5.39% 6.27B
8.6x16.51x19.89x8.31% 5.81B
9.93x14.37x15.39x7.14% 5.79B
8.38x13.76x17.66x5.94% 5.74B
12.45x11.25x12.89x5.55% 5.17B
Average 13.19x 13.95x 16.31x 6.03% 7.24B
Weighted average by Cap. 15.05x 13.90x 16.25x 5.89%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA



Year-on-year evolution of the Yield

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