Financials Mirvac Group

Equities

MGR

AU000000MGR9

Diversified REITs

Market Closed - Australian S.E. 11:40:42 26/04/2024 am IST 5-day change 1st Jan Change
2.05 AUD -1.91% Intraday chart for Mirvac Group -3.30% -1.91%

Valuation

Fiscal Period: June 2019 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 12,239 8,533 11,498 7,788 8,918 8,089 - -
Enterprise Value (EV) 1 15,553 12,509 15,303 11,521 13,336 12,412 12,742 12,994
P/E ratio 11.3 x 15.3 x 12.8 x 8.59 x -53.8 x 14.8 x 14.1 x 12.1 x
Yield 3.71% 4.19% 3.39% 5.16% 4.65% 5.13% 5.27% 5.47%
Capitalization / Revenue 14.1 x 11.1 x 14.7 x 9.91 x 11.5 x 8.94 x 8.78 x 8.31 x
EV / Revenue 17.9 x 16.2 x 19.6 x 14.7 x 17.2 x 13.7 x 13.8 x 13.3 x
EV / EBITDA 17.3 x 14.3 x 19.7 x 13.5 x 15.9 x 14.8 x 14.6 x 14 x
EV / FCF - 27.7 x 24.2 x 13 x -222 x 19.1 x -74.5 x 39.6 x
FCF Yield - 3.61% 4.13% 7.72% -0.45% 5.24% -1.34% 2.52%
Price to Book 1.24 x 0.84 x 1.09 x 0.7 x 0.84 x 0.74 x 0.72 x 0.7 x
Nbr of stocks (in thousands) 39,10,134 39,32,383 39,37,557 39,43,403 39,45,860 39,45,860 - -
Reference price 2 3.130 2.170 2.920 1.975 2.260 2.050 2.050 2.050
Announcement Date 07/08/19 19/08/20 11/08/21 10/08/22 15/08/23 - - -
1AUD in Million2AUD
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: June 2019 2020 2021 2022 2023 2024 2025 2026
Net sales 1 867 771 781 786 777 904.9 921.7 973.9
EBITDA 1 901 872 775 856 840 836.9 871 930.3
EBIT 1 849 796 704 773 767 828.4 852.9 912
Operating Margin 97.92% 103.24% 90.14% 98.35% 98.71% 91.55% 92.53% 93.64%
Earnings before Tax (EBT) 1 1,072 583 934 985 -182 328.2 634.8 673.4
Net income 1 1,019 558 901 906 -165 541 568.6 653.4
Net margin 117.53% 72.37% 115.36% 115.27% -21.24% 59.78% 61.69% 67.1%
EPS 2 0.2760 0.1420 0.2290 0.2300 -0.0420 0.1382 0.1453 0.1691
Free Cash Flow 1 - 451 632 889 -60 650.5 -171 328
FCF margin - 58.5% 80.92% 113.1% -7.72% 71.89% -18.55% 33.68%
FCF Conversion (EBITDA) - 51.72% 81.55% 103.86% - 77.73% - 35.26%
FCF Conversion (Net income) - 80.82% 70.14% 98.12% - 120.25% - 50.2%
Dividend per Share 2 0.1160 0.0910 0.0990 0.1020 0.1050 0.1051 0.1080 0.1122
Announcement Date 07/08/19 19/08/20 11/08/21 10/08/22 15/08/23 - - -
1AUD in Million2AUD
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: June 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 05/02/20 19/08/20 11/02/21 11/08/21 09/02/22 10/08/22 08/02/23 15/08/23 07/02/24 - -
1AUD
Estimates

Balance Sheet Analysis

Fiscal Period: June 2019 2020 2021 2022 2023 2024 2025 2026
Net Debt 1 3,314 3,976 3,805 3,733 4,418 4,323 4,653 4,905
Net Cash position 1 - - - - - - - -
Leverage (Debt/EBITDA) 3.678 x 4.56 x 4.91 x 4.361 x 5.26 x 5.166 x 5.343 x 5.273 x
Free Cash Flow 1 - 451 632 889 -60 651 -171 328
ROE (net income / shareholders' equity) 11% 5.59% 5.32% 5.49% 5.35% 5.17% 5.31% 5.52%
ROA (Net income/ Total Assets) 3.28% 3.74% 3.51% 3.6% 3.4% 3.81% 3.95% 4.03%
Assets 1 31,067 14,913 25,640 25,172 -4,849 14,213 14,380 16,201
Book Value Per Share 2 2.520 2.570 2.690 2.820 2.680 2.770 2.840 2.940
Cash Flow per Share 2 0.1400 0.1200 0.1600 0.2300 -0.0100 0.0800 0.1400 0.1500
Capex 1 - 700 634 7 3 151 143 144
Capex / Sales - 90.79% 81.18% 0.89% 0.39% 16.68% 15.47% 14.8%
Announcement Date 07/08/19 19/08/20 11/08/21 10/08/22 15/08/23 - - -
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

Trading Rating
Investor Rating
ESG Refinitiv
A
More Ratings
Sell
Consensus
Buy
Mean consensus
HOLD
Number of Analysts
12
Last Close Price
2.05 AUD
Average target price
2.357 AUD
Spread / Average Target
+14.96%
Consensus
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