Mirvac Group
Market Cap
AU$10.3b
Last Updated
2020/11/29 07:02 UTC
Data Sources
Company Financials +
Executive Summary
Mirvac is an Australian property group with a clearly defined purpose to reimagine urban life. More Details
Rewards
Risk Analysis
Snowflake Analysis
Second-rate dividend payer with questionable track record.
Similar Companies
Share Price & News
How has Mirvac Group's share price performed over time and what events caused price changes?
Latest Share Price and Events
Stable Share Price: MGR is less volatile than 75% of Australian stocks over the past 3 months, typically moving +/- 5% a week.
Volatility Over Time: MGR's weekly volatility (5%) has been stable over the past year.
Market Performance
7 Day Return
-2.6%
MGR
0.7%
AU REITs
1.3%
AU Market
1 Year Return
-22.6%
MGR
-9.7%
AU REITs
-1.7%
AU Market
Return vs Industry: MGR underperformed the Australian REITs industry which returned -9.7% over the past year.
Return vs Market: MGR underperformed the Australian Market which returned -1.7% over the past year.
Shareholder returns
| MGR | Industry | Market | |
|---|---|---|---|
| 7 Day | -2.6% | 0.7% | 1.3% |
| 30 Day | 23.7% | 12.4% | 10.4% |
| 90 Day | 23.7% | 12.8% | 8.8% |
| 1 Year | -20.0%-22.6% | -6.0%-9.7% | 1.7%-1.7% |
| 3 Year | 21.1%7.0% | 24.4%7.6% | 23.1%7.9% |
| 5 Year | 76.0%41.1% | 61.7%25.8% | 57.2%26.0% |
Long-Term Price Volatility Vs. Market
How volatile is Mirvac Group's share price compared to the market and industry in the last 5 years?
Simply Wall St News
3 months ago | Simply Wall St
Have Insiders Been Selling Mirvac Group (ASX:MGR) Shares?8 months ago | Simply Wall St
Do Institutions Own Shares In Mirvac Group (ASX:MGR)?9 months ago | Simply Wall St
How Many Mirvac Group (ASX:MGR) Shares Have Insiders Sold, In The Last Year?Valuation
Is Mirvac Group undervalued compared to its fair value and its price relative to the market?
18.39x
Price to Earnings (PE) ratio
Share Price vs. Fair Value
Below Fair Value: MGR (A$2.61) is trading above our estimate of fair value (A$2.5)
Significantly Below Fair Value: MGR is trading above our estimate of fair value.
Price To Earnings Ratio
PE vs Industry: MGR is poor value based on its PE Ratio (18.4x) compared to the AU REITs industry average (17.8x).
PE vs Market: MGR is good value based on its PE Ratio (18.4x) compared to the Australian market (23x).
Price to Earnings Growth Ratio
PEG Ratio: MGR is poor value based on its PEG Ratio (3.1x)
Price to Book Ratio
PB vs Industry: MGR's PB Ratio (1x) is in line with the AU REITs industry average.
Next Steps
Future Growth
How is Mirvac Group forecast to perform in the next 1 to 3 years based on estimates from 10 analysts?
5.9%
Forecasted annual earnings growth
Earnings and Revenue Growth Forecasts
Analyst Future Growth Forecasts
Earnings vs Savings Rate: MGR's forecast earnings growth (5.9% per year) is above the savings rate (2.3%).
Earnings vs Market: MGR's earnings (5.9% per year) are forecast to grow slower than the Australian market (17.9% 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 (-26.1% per year).
High Growth Revenue: MGR's revenue is forecast to decline over the next 3 years (-26.1% 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 (5.8%).
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Past Performance
How has Mirvac Group performed over the past 5 years?
1.7%
Historical annual earnings growth
Earnings and Revenue History
Quality Earnings: MGR has high quality earnings.
Growing Profit Margin: MGR's current net profit margins (24.8%) are lower than last year (45.2%).
Past Earnings Growth Analysis
Earnings Trend: MGR's earnings have grown by 1.7% per year over the past 5 years.
Accelerating Growth: MGR's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.
Earnings vs Industry: MGR had negative earnings growth (-45.2%) over the past year, making it difficult to compare to the REITs industry average (6.8%).
Return on Equity
High ROE: MGR's Return on Equity (5.5%) is considered low.
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Financial Health
How is Mirvac Group's financial position?
Financial Position Analysis
Short Term Liabilities: MGR's short term assets (A$1.1B) exceed its short term liabilities (A$749.0M).
Long Term Liabilities: MGR's short term assets (A$1.1B) do not cover its long term liabilities (A$4.5B).
Debt to Equity History and Analysis
Debt Level: MGR's debt to equity ratio (43.7%) is considered high.
Reducing Debt: MGR's debt to equity ratio has increased from 42.1% to 43.7% over the past 5 years.
Debt Coverage: MGR's debt is not well covered by operating cash flow (10.3%).
Interest Coverage: MGR's interest payments on its debt are well covered by EBIT (5.6x coverage).
Balance Sheet
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Dividend
What is Mirvac Group current dividend yield, its reliability and sustainability?
3.49%
Current Dividend Yield
Dividend Yield vs Market
Notable Dividend: MGR's dividend (3.49%) is higher than the bottom 25% of dividend payers in the Australian market (2.05%).
High Dividend: MGR's dividend (3.49%) is low compared to the top 25% of dividend payers in the Australian market (5.06%).
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 high payout ratio (106.8%), MGR's dividend payments are not well covered by earnings.
Future Payout to Shareholders
Future Dividend Coverage: MGR's dividends in 3 years are forecast to be covered by earnings (70.7% payout ratio).
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Management
How experienced are the management team and are they aligned to shareholders interests?
4.2yrs
Average management tenure
CEO
Susan Lloyd-Hurwitz (52 yo)
8.25yrs
Tenure
AU$2,399,341
Compensation
Ms. Susan Lloyd-Hurwitz, BA (Hons), MBA (Dist), has been the Chief Executive Officer and Managing Director of Mirvac Group since August 15, 2012 and its Executive Director since November 5, 2012. Prior to ...
CEO Compensation Analysis
Compensation vs Market: Susan's total compensation ($USD1.77M) is about average for companies of similar size in the Australian market ($USD2.53M).
Compensation vs Earnings: Susan's compensation has been consistent with company performance over the past year.
Leadership Team
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| CEO, MD & Executive Director | 8.25yrs | AU$2.40m | 0.13% A$ 13.1m | |
| Chief Financial Officer | 6.92yrs | AU$1.24m | 0.016% A$ 1.6m | |
| Chief Investment Officer | 6.42yrs | AU$1.34m | 0.021% A$ 2.2m | |
| Head of Retail | no data | AU$994.07k | 0.020% A$ 2.0m | |
| Head of Residential | 3.58yrs | AU$1.09m | 0.0019% A$ 193.2k | |
| Head of Commercial Property | 4.67yrs | AU$1.03m | 0.012% A$ 1.2m | |
| General Manager of Investor Relations & Capital Allocation | no data | no data | no data | |
| General Manager of Communications | no data | no data | no data | |
| Head of Culture & Capability | 3.67yrs | no data | no data | |
| Head of Stakeholder Relations | 3.25yrs | no data | no data | |
| Co-Head of Human Resources | no data | no data | no data | |
| Chief Digital Officer | 0.67yr | no data | no data |
4.2yrs
Average Tenure
Experienced Management: MGR's management team is considered experienced (4.2 years average tenure).
Board Members
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| CEO, MD & Executive Director | 8.25yrs | AU$2.40m | 0.13% A$ 13.1m | |
| Independent Non-Executive Chair | 7yrs | AU$456.00k | 0.0027% A$ 274.4k | |
| Independent Non-Executive Director | 5.67yrs | AU$192.85k | 0.0014% A$ 142.9k | |
| Independent Non-Executive Director | 11yrs | AU$221.35k | 0.0014% A$ 143.9k | |
| Independent Non-Executive Director | 5.92yrs | AU$192.85k | 0.0014% A$ 143.9k | |
| Independent Non-Executive Director | 0.17yr | no data | 0.0018% A$ 182.9k | |
| Independent Non-Executive Director | 2yrs | AU$192.85k | 0.0010% A$ 106.9k | |
| Independent Non-Executive Director | 1.92yrs | AU$192.85k | 0.0010% A$ 104.8k |
5.8yrs
Average Tenure
56.5yo
Average Age
Experienced Board: MGR's board of directors are considered experienced (5.8 years average tenure).
Ownership
Who are the major shareholders and have insiders been buying or selling?
Insider Trading Volume
Insider Buying: MGR 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 company bio, employee growth, exchange listings and data sources
Key Information
- Name: Mirvac Group
- Ticker: MGR
- Exchange: ASX
- Founded: 1972
- Industry: Diversified REITs
- Sector: Real Estate
- Market Cap: AU$10.277b
- 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
| Ticker | Exchange | Primary Security | Security Type | Country | Currency | Listed on |
|---|---|---|---|---|---|---|
| MGR | ASX (Australian Securities Exchange) | Yes | Stapled Securities | AU | AUD | Jun 1999 |
| MJB | DB (Deutsche Boerse AG) | Yes | Stapled Securities | DE | EUR | Jun 1999 |
| MRVG.F | OTCPK (Pink Sheets LLC) | Yes | Stapled Securities | US | USD | Jun 1999 |
| MJB | BST (Boerse-Stuttgart) | Yes | Stapled Securities | DE | EUR | Jun 1999 |
| MGR | CHIA (Chi-X Australia) | Yes | Stapled Securities | AU | AUD | Jun 1999 |
Biography
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 pos...
Company Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2020/11/29 07:02 |
| End of Day Share Price | 2020/11/27 00:00 |
| Earnings | 2020/06/30 |
| Annual Earnings | 2020/06/30 |
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.