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MGR

Mirvac GroupASX:MGR Stock Report

Last Price

AU$2.81

Market Cap

AU$11.1b

7D

-0.7%

1Y

11.1%

Updated

20 Jan, 2022

Data

Company Financials +
MGR fundamental analysis
Snowflake Score
Valuation4/6
Future Growth1/6
Past Performance2/6
Financial Health4/6
Dividends4/6

MGR Stock Overview

Mirvac is an Australian property group with a clearly defined purpose to reimagine urban life.

Mirvac Group Competitors

GPT Group

ASX:GPT

AU$10.2b

Stockland

ASX:SGP

AU$9.8b

Charter Hall Group

ASX:CHC

AU$8.3b

Charter Hall Long WALE REIT

ASX:CLW

AU$3.5b

Price History & Performance

Summary of all time highs, changes and price drops for Mirvac Group
Historical stock prices
Current Share PriceAU$2.81
52 Week HighAU$3.18
52 Week LowAU$2.13
Beta0.97
1 Month Change-3.10%
3 Month Change-4.75%
1 Year Change11.07%
3 Year Change18.07%
5 Year Change37.75%
Change since IPO-10.79%

Recent News & Updates

Shareholder Returns

MGRAU REITsAU Market
7D-0.7%-1.4%-1.7%
1Y11.1%18.3%7.7%

Return vs Industry: MGR underperformed the Australian REITs industry which returned 18.3% over the past year.

Return vs Market: MGR exceeded the Australian Market which returned 7.7% over the past year.

Price Volatility

Is MGR's price volatile compared to industry and market?
MGR volatility
MGR Average Weekly Movement3.8%
REITs Industry Average Movement3.2%
Market Average Movement8.5%
10% most volatile stocks in AU Market15.3%
10% least volatile stocks in AU Market3.6%

Stable Share Price: MGR is less volatile than 75% of Australian stocks over the past 3 months, typically moving +/- 4% a week.

Volatility Over Time: MGR's weekly volatility (4%) has been stable over the past year.

About the Company

FoundedEmployeesCEOWebsite
19721,416Susan Lloyd-Hurwitzhttps://www.mirvac.com

Mirvac is an Australian property group with a clearly defined purpose to reimagine urban life. By creating beautiful homes, inspiring workplace precincts and thriving shopping centres, we aim to make a positive contribution to our cities and communities. Mirvac was founded in 1972, which means we’ve been shaping Australia’s urban landscape for almost fifty years.

Mirvac Group Fundamentals Summary

How do Mirvac Group's earnings and revenue compare to its market cap?
MGR fundamental statistics
Market CapAU$11.08b
Earnings (TTM)AU$901.00m
Revenue (TTM)AU$1.92b

12.3x

P/E Ratio

5.8x

P/S Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
MGR income statement (TTM)
RevenueAU$1.92b
Cost of RevenueAU$1.01b
Gross ProfitAU$909.00m
ExpensesAU$8.00m
EarningsAU$901.00m

Last Reported Earnings

Jun 30, 2021

Next Earnings Date

Feb 09, 2022

Earnings per share (EPS)0.23
Gross Margin47.42%
Net Profit Margin47.00%
Debt/Equity Ratio37.8%

How did MGR perform over the long term?

See historical performance and comparison

Dividends

3.6%

Current Dividend Yield

48%

Payout Ratio

Valuation

Is Mirvac Group undervalued compared to its fair value and its price relative to the market?

31.4%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: MGR (A$2.81) is trading below our estimate of fair value (A$4.1)

Significantly Below Fair Value: MGR is trading below fair value by more than 20%.


Price To Earnings Ratio

PE vs Industry: MGR is poor value based on its PE Ratio (12.3x) compared to the Australian REITs industry average (9.8x).

PE vs Market: MGR is good value based on its PE Ratio (12.3x) compared to the Australian market (19.3x).


Price to Earnings Growth Ratio

PEG Ratio: MGR is poor value based on its PEG Ratio (6.4x)


Price to Book Ratio

PB vs Industry: MGR is good value based on its PB Ratio (1x) compared to the AU REITs industry average (1.2x).


Future Growth

How is Mirvac Group forecast to perform in the next 1 to 3 years based on estimates from 10 analysts?

1.9%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: MGR's forecast earnings growth (1.9% per year) is above the savings rate (1.9%).

Earnings vs Market: MGR's earnings (1.9% per year) are forecast to grow slower than the Australian market (11.4% per year).

High Growth Earnings: MGR's earnings are forecast to grow, but not significantly.

Revenue vs Market: MGR's revenue is expected to decline over the next 3 years (-18.9% per year).

High Growth Revenue: MGR's revenue is forecast to decline over the next 3 years (-18.9% per year).


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: MGR's Return on Equity is forecast to be low in 3 years time (6.6%).


Past Performance

How has Mirvac Group performed over the past 5 years?

-12.0%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: MGR has a large one-off gain of A$394.0M impacting its June 30 2021 financial results.

Growing Profit Margin: MGR's current net profit margins (47%) are higher than last year (24.8%).


Past Earnings Growth Analysis

Earnings Trend: MGR's earnings have declined by 12% per year over the past 5 years.

Accelerating Growth: MGR's earnings growth over the past year (61.5%) exceeds its 5-year average (-12% per year).

Earnings vs Industry: MGR earnings growth over the past year (61.5%) underperformed the REITs industry 106.4%.


Return on Equity

High ROE: MGR's Return on Equity (8.4%) is considered low.


Financial Health

How is Mirvac Group's financial position?


Financial Position Analysis

Short Term Liabilities: MGR's short term assets (A$1.0B) exceed its short term liabilities (A$789.0M).

Long Term Liabilities: MGR's short term assets (A$1.0B) do not cover its long term liabilities (A$4.5B).


Debt to Equity History and Analysis

Debt Level: MGR's net debt to equity ratio (36.7%) is considered satisfactory.

Reducing Debt: MGR's debt to equity ratio has reduced from 40.8% to 37.8% over the past 5 years.

Debt Coverage: MGR's debt is not well covered by operating cash flow (15.8%).

Interest Coverage: MGR's interest payments on its debt are well covered by EBIT (5.4x coverage).


Balance Sheet


Dividend

What is Mirvac Group current dividend yield, its reliability and sustainability?

3.63%

Current Dividend Yield


Dividend Yield vs Market

Notable Dividend: MGR's dividend (3.63%) is higher than the bottom 25% of dividend payers in the Australian market (2.21%).

High Dividend: MGR's dividend (3.63%) is low compared to the top 25% of dividend payers in the Australian market (5.47%).


Stability and Growth of Payments

Stable Dividend: MGR's dividend payments have been volatile in the past 10 years.

Growing Dividend: MGR's dividend payments have increased over the past 10 years.


Current Payout to Shareholders

Dividend Coverage: With its reasonably low payout ratio (48.3%), MGR's dividend payments are well covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: MGR's dividends in 3 years are forecast to be covered by earnings (64.5% payout ratio).


Next Steps

Management

How experienced are the management team and are they aligned to shareholders interests?

4.8yrs

Average management tenure


CEO

Susan Lloyd-Hurwitz (53 yo)

9.42yrs

Tenure

AU$4,832,938

Compensation

Ms. Susan Lloyd-Hurwitz, BA (Hons), MBA (Dist), has been the Chief Executive Officer and Managing Director of Mirvac Group since August 15, 2012 and its Executive Director since November 5, 2012. Prior to...


CEO Compensation Analysis

Compensation vs Market: Susan's total compensation ($USD3.49M) is above average for companies of similar size in the Australian market ($USD2.28M).

Compensation vs Earnings: Susan's compensation has increased by more than 20% in the past year.


Leadership Team

Experienced Management: MGR's management team is considered experienced (4.8 years average tenure).


Board Members

Experienced Board: MGR's board of directors are considered experienced (6.8 years average tenure).


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Recent Insider Transactions

Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.


Top Shareholders

Company Information

Mirvac Group's employee growth, exchange listings and data sources


Key Information

  • Name: Mirvac Group
  • Ticker: MGR
  • Exchange: ASX
  • Founded: 1972
  • Industry: Diversified REITs
  • Sector: Real Estate
  • Implied Market Cap: AU$11.080b
  • Shares outstanding: 3.94b
  • Website: https://www.mirvac.com

Number of Employees


Location

  • Mirvac Group
  • 200 George Street
  • Level 28
  • Sydney
  • New South Wales
  • 2000
  • Australia

Listings


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2022/01/20 15:53
End of Day Share Price2022/01/20 00:00
Earnings2021/06/30
Annual Earnings2021/06/30


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.