Mirvac Group
Market Cap
AU$12.7b
Last Updated
2019/12/08 10:32 UTC
Data Sources
Company Financials +
Executive Summary
Mirvac is a leading, diversified Australian property group, with an integrated development and asset management capability.
Rewards
Risk Analysis
Earnings are forecast to decline by an average of -18.4% per year for the next 3 years
Snowflake Analysis
Established dividend payer and slightly overvalued.
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 has not had significant price volatility in the past 3 months.
Market Performance
7 Day Return
-0.3%
MGR
-1.4%
AU REITs
-2.0%
AU Market
1 Year Return
45.5%
MGR
15.0%
AU REITs
16.7%
AU Market
Return vs Industry: MGR exceeded the Australian REITs industry which returned 15% over the past year.
Return vs Market: MGR exceeded the Australian Market which returned 16.7% over the past year.
Shareholder returns
| MGR | Industry | Market | |
|---|---|---|---|
| 7 Day | -0.3% | -1.4% | -2.0% |
| 30 Day | 5.3% | 0.5% | -0.7% |
| 90 Day | 8.7% | 1.5% | 0.4% |
| 1 Year | 51.8%45.5% | 20.7%15.0% | 22.5%16.7% |
| 3 Year | 86.6%62.3% | 50.3%28.6% | 35.4%16.8% |
| 5 Year | 133.7%84.1% | 95.4%51.4% | 60.6%24.4% |
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
1 week ago | Simply Wall St
Do Institutions Own Mirvac Group (ASX:MGR) Shares?1 month ago | Simply Wall St
This Insider Has Just Sold Shares In Mirvac Group (ASX:MGR)1 month ago | Simply Wall St
Does Mirvac Group's (ASX:MGR) CEO Pay Reflect Performance?Valuation
Is Mirvac Group undervalued compared to its fair value and its price relative to the market?
12.18x
Price to Earnings (PE) ratio
Share Price vs. Fair Value
Below Fair Value: MGR (A$3.36) is trading above our estimate of fair value (A$3.27)
Significantly Below Fair Value: MGR is trading above our estimate of fair value.
Price To Earnings Ratio
PE vs Industry: MGR is good value based on its PE Ratio (12.2x) compared to the REITs industry average (16.1x).
PE vs Market: MGR is good value based on its PE Ratio (12.2x) compared to the Australian market (18.6x).
Price to Earnings Growth Ratio
PEG Ratio: MGR's earnings are forecast to decline next year, so we can't calculate its PEG ratio.
Price to Book Ratio
PB vs Industry: MGR is overvalued based on its PB Ratio (1.3x) compared to the AU REITs industry average (1.2x).
Next Steps
Future Growth
How is Mirvac Group forecast to perform in the next 1 to 3 years based on estimates from 7 analysts?
-18.4%
Forecasted annual earnings growth
Earnings and Revenue Growth Forecasts
Analyst Future Growth Forecasts
Earnings vs Savings Rate: MGR's earnings are forecast to decline over the next 3 years (-18.4% per year).
Earnings vs Market: MGR's earnings are forecast to decline over the next 3 years (-18.4% per year).
High Growth Earnings: MGR's earnings are forecast to decline over the next 3 years.
Revenue vs Market: MGR's revenue is expected to decline over the next 3 years (-23.9% per year).
High Growth Revenue: MGR's revenue is forecast to decline over the next 3 years (-23.9% 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 (5.9%).
Next Steps
Past Performance
How has Mirvac Group performed over the past 5 years?
16.7%
Historical annual earnings growth
Earnings and Revenue History
Quality Earnings: MGR has a large one-off gain of A$516.0M impacting its June 30 2019 financial results.
Growing Profit Margin: MGR's current net profit margins (45.2%) are lower than last year (47.3%).
Past Earnings Growth Analysis
Earnings Trend: MGR's earnings have grown by 16.7% 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 (-6.4%) over the past year, making it difficult to compare to the REITs industry average (-16.4%).
Return on Equity
High ROE: MGR's Return on Equity (10.3%) is considered low.
Return on Assets
Return on Capital Employed
Next Steps
Financial Health
How is Mirvac Group's financial position? (This company is analysed differently as a bank or financial institution)
Financial Position Analysis
Debt to Equity History and Analysis
Balance Sheet
Inventory Level: MGR has a low level of unsold assets or inventory.
Debt Coverage by Assets: MGR's debt is not covered by short term assets (assets are 0.3x debt).
Financial Institutions Analysis
Asset Level: MGR's level of assets compared to its equity is low.
Allowance for Bad Loans: Insufficient data to determine if MGR has a sufficient allowance for bad loans.
Low Risk Liabilities: MGR reports no customer deposits, loans are made up entirely of externally borrowed funds.
Loan Level: Insufficient data to determine if MGR has an acceptable proportion of non-loan assets held.
Low Risk Deposits: MGR has advanced significantly more loans than the customer deposits it holds.
Level of Bad Loans: Insufficient data to determine if MGR has an appropriate level of bad loans.
Next Steps
Dividend
What is Mirvac Group's current dividend yield, its reliability and sustainability?
3.45%
Current Dividend Yield
Dividend Yield vs Market
Current dividend yield vs market & industry
Notable Dividend: MGR's dividend (3.45%) is higher than the bottom 25% of dividend payers in the Australian market (2.44%).
High Dividend: MGR's dividend (3.45%) is low compared to the top 25% of dividend payers in the Australian market (5.59%).
Stability and Growth of Payments
Stable Dividend: MGR's dividends per share have been stable in the past 10 years.
Growing Dividend: MGR's dividend payments have increased over the past 10 years.
Current Payout to Shareholders
Dividend Coverage: At its current payout ratio (80.3%), MGR's payments are covered by earnings.
Future Payout to Shareholders
Future Dividend Coverage: MGR's dividends in 3 years are forecast to be covered by earnings (76% payout ratio).
Next Steps
Management
What is the CEO of Mirvac Group's salary, the management and board of directors tenure and is there insider trading?
3.8yrs
Average management tenure
CEO
Susan Lloyd-Hurwitz (51yo)
7.3yrs
Tenure
AU$4,822,584
Compensation
Ms. Susan Lloyd-Hurwitz, BA (Hons), MBA (Dist), has been the Chief Executive Officer and Managing Director of Mirvac Group since August 15, 2012 and its Executive Director since November 5, 2012. Prior to ...
CEO Compensation Analysis
Compensation vs Market: Susan's total compensation ($USD3.30M) is about average for companies of similar size in the Australian market ($USD3.02M).
Compensation vs Earnings: Susan's compensation has been consistent with company performance over the past year.
Management Age and Tenure
3.8yrs
Average Tenure
Experienced Management: MGR's management team is considered experienced (3.8 years average tenure).
Board Age and Tenure
5.5yrs
Average Tenure
61yo
Average Age
Experienced Board: MGR's board of directors are considered experienced (5.5 years average tenure).
Insider Trading
Insider Buying: MGR insiders have sold more shares than they have bought in the past 3 months.
Recent Insider Transactions
| Entity | Individual |
| Role | Member of the Board of Directors Independent Non-Executive Director |
| Shares | 5,000 |
| Max Price | AU$3.23 |
| Entity | Individual |
| Role | Member of the Board of Directors Independent Non-Executive Director |
| Shares | 15,000 |
| Max Price | AU$3.27 |
| Entity | Individual |
| Role | Chief Executive Officer CEO, MD & Executive Director |
| Shares | 233,031 |
| Max Price | AU$3.25 |
| Entity | Individual |
| Role | Chief Executive Officer CEO, MD & Executive Director |
| Shares | 70,967 |
| Max Price | AU$3.11 |
| Entity | Individual |
| Role | Chief Executive Officer CEO, MD & Executive Director |
| Shares | 321,294 |
| Max Price | AU$2.74 |
| Entity | Company |
| Shares | 2,335,105 |
| Max Price | AU$2.69 |
| Entity | Company |
| Shares | 30,256,514 |
| Max Price | AU$2.70 |
| Entity | Company |
| Shares | 56,593,818 |
| Max Price | AU$2.57 |
| Entity | Company |
| Shares | 75,894,303 |
| Max Price | AU$2.59 |
| Entity | Company |
| Shares | 15,429,989 |
| Max Price | AU$2.51 |
Ownership Breakdown
Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.
Management Team
Shane Gannon (59yo)
Chief Financial Officer
- Tenure: 6yrs
- Compensation: AU$2.50m
Brett Draffen
Chief Investment Officer
- Tenure: 5.4yrs
- Compensation: AU$2.63m
Sean Ward
Group Company Secretary & Head of Risk
- Tenure: 2.6yrs
Bryan Howitt
General Manager of Investor Relations
- Tenure: 0yrs
Stuart Penklis
Head of Residential
- Tenure: 2.6yrs
- Compensation: AU$1.77m
Susan Lloyd-Hurwitz (51yo)
CEO, MD & Executive Director
- Tenure: 7.3yrs
- Compensation: AU$4.82m
Campbell Hanan
Head of Office & Industrial
- Tenure: 3.8yrs
- Compensation: AU$1.87m
Susan MacDonald
Head of Retail
- Tenure: 0yrs
- Compensation: AU$1.84m
Chris Akayan
Head of Culture & Reputation
- Tenure: 2.8yrs
Kate Lander
General Manager of Communications
- Tenure: 0yrs
Board Members
John Mulcahy (69yo)
Independent Non-Executive Chair
- Tenure: 6.1yrs
- Compensation: AU$480.00k
Sam Mostyn (54yo)
Independent Non-Executive Director
- Tenure: 4.8yrs
- Compensation: AU$203.00k
James Millar (66yo)
Independent Non-Executive Director
- Tenure: 10.1yrs
- Compensation: AU$233.00k
Christine Bartlett
Independent Non-Executive Director
- Tenure: 5yrs
- Compensation: AU$203.00k
Peter John Hawkins (65yo)
Independent Non-Executive Director
- Tenure: 13.9yrs
- Compensation: AU$233.00k
Susan Lloyd-Hurwitz (51yo)
CEO, MD & Executive Director
- Tenure: 7.3yrs
- Compensation: AU$4.82m
Peter Nash (57yo)
Independent Non-Executive Director
- Tenure: 1.1yrs
- Compensation: AU$126.11k
Jane Hewitt
Independent Non-Executive Director
- Tenure: 1yrs
- Compensation: AU$114.39k
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$12.667b
- Shares outstanding: 3.93b
- 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 a leading, diversified Australian property group, with an integrated development and asset management capability. We have 45 years of experience in the property industry and an unmatched reputati ...
Company Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2019/12/08 10:32 |
| End of Day Share Price | 2019/12/06 00:00 |
| Earnings | 2019/06/30 |
| Annual Earnings | 2019/06/30 |
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.