MIRVAC GROUP (MGR)
Share Price Analysis and Chart

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MGR - MIRVAC GROUP

FNArena Sector : Infra & Property Developers
Year End: June
GICS Industry Group : Real Estate
Debt/EBITDA: 8.47
Index: ASX50 | ASX100 | ASX200 | ASX300 | ALL-ORDS

Mirvac is an Australian property group with a portfolio that includes commercial offices, retail centres and industrial properties across Australia. It is also active in the build to rent sector. The company was founded in 1972 and publicly listed in 1999.

LAST PRICE CHANGE +/- CHANGE % VOLUME

$2.06

30 Nov
2023

0.090

OPEN

$2.00

4.57%

HIGH

$2.06

32,190,245

LOW

$1.97

TARGET
$2.58 25.2% upside
Franking for last dividend paid out: 0%
OTHER COMPANIES IN THE SAME SECTOR
CMW . CWP . FRI . FWD . GMG . GOZ . GPT . HPI . LIC . LLC . PPC . SFC . SGP . SIO . UOS .
FNARENA'S MARKET CONSENSUS FORECASTS
MGR: 1
Title FY22
Actual
FY23
Actual
FY24
Forecast
FY25
Forecast
EPS (cps) xxx - 4.2 18.5 xxx
DPS (cps) xxx 10.5 10.5 xxx
EPS Growth xxx N/A N/A xxx
DPS Growth xxx 2.9% - 0.4% xxx
PE Ratio xxx N/A 11.0 xxx
Dividend Yield xxx N/A 5.1% xxx
Div Pay Ratio(%) xxx N/A 56.5% xxx

Dividend yield today if purchased 3 years ago: 4.05%

DIVIDEND YIELD CALCULATOR

Dividend Yield Today On Last Actual Payout :

5.15

Estimated Dividend Growth
(Average Of Past Three Years)

 %

Amount Invested

Tell Me The Dividend After This Many Years

Past performance is no guarantee for the future. Investors should take into account that heavy swings in share price or exceptional circumstances (a la 2009) can have a significant impact on short term calculations and averages

Last ex-div: 29/06 - ex-div 5.3c (franking 0%)

HISTORICAL DATA ARE ALL IN AUD
Copyright © 2023 FactSet UK Limited. All rights reserved
Title 201820192020202120222023
EPS Basic xxxxxxxxxxxxxxx-4.2
DPS All xxxxxxxxxxxxxxx10.5
Sales/Revenue xxxxxxxxxxxxxxx1,892.0 M
Book Value Per Share xxxxxxxxxxxxxxx267.6
Net Operating Cash Flow xxxxxxxxxxxxxxx-57.0 M
Net Profit Margin xxxxxxxxxxxxxxx-8.72 %

EPS Basic

DPS All

Sales/Revenue

Book Value Per Share

Net Operating Cash Flow

Net Profit Margin

Title 201820192020202120222023
Return on Capital Employed xxxxxxxxxxxxxxx-1.52 %
Return on Invested Capital xxxxxxxxxxxxxxx-1.10 %
Return on Assets xxxxxxxxxxxxxxx-0.96 %
Return on Equity xxxxxxxxxxxxxxx-1.52 %
Return on Total Capital xxxxxxxxxxxxxxx3.03 %
Free Cash Flow ex dividends xxxxxxxxxxxxxxx-467.0 M

Return on Capital Employed

Return on Invested Capital

Return on Assets

Return on Equity

Return on Total Capital

Free Cash Flow ex dividends

Title 201820192020202120222023
Short-Term Debt xxxxxxxxxxxxxxx258 M
Long Term Debt xxxxxxxxxxxxxxx4,282 M
Total Debt xxxxxxxxxxxxxxx4,540 M
Goodwill - Gross xxxxxxxxxxxxxxx-
Cash & Equivalents - Generic xxxxxxxxxxxxxxx122 M
Price To Book Value xxxxxxxxxxxxxxx0.84

Short-Term Debt

Long Term Debt

Total Debt

Goodwill - Gross

Cash & Equivalents - Generic

Price To Book Value

Title 201820192020202120222023
Capex xxxxxxxxxxxxxxx5.0 M
Capex % of Sales xxxxxxxxxxxxxxx0.26 %
Cost of Goods Sold xxxxxxxxxxxxxxx1,057 M
Selling, General & Admin. Exp & Other xxxxxxxxxxxxxxx372 M
Research & Development xxxxxxxxxxxxxxx-
Investments - Total xxxxxxxxxxxxxxx11,764 M

Capex

Capex % of Sales

Cost of Goods Sold

Selling, General & Admin. Exp & Other

Research & Development

Investments - Total

EXPERT VIEWS
Display All Commentary

Sentiment Indicator

0.9

No. Of Recommendations

5
BROKER DATE RATING RECOMMENDATION TARGET PRICE % TO REACH TARGET COMMENTARY

Morgan Stanley

xx/xx/xxxx

1

xxxxxxxxxx

$xx.xx

xx.xx%

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Macquarie

xx/xx/xxxx

1

xxxxxxxxxx

$xx.xx

xx.xx%

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Citi

26/10/2023

1

Buy

$2.50

21.36%

Mirvac Group's Sep Q update highlighted a weaker sales result with 262 lots sold in the quarter versus 508 in the June quarter. Part of the weakness, Citi suggests, is weaker markets with the remainder being driven by the timing of the project launches being towards later in quarter.

FY24 guidance maintained. While Citi sees longer term headwinds from a reducing but still high office exposure, the stock is providing
attractive value currently given a -30% discount to net tangible asset valuation versus a 10% premium historically.

And NTA is not ascribing any value to $17.1bn in third party funds under management as well as the $11.6bn commercial/mixed use development pipeline. Buy and $2.50 target retained.

FORECAST
Citi forecasts a full year FY24 dividend of 10.80 cents and EPS of 14.30 cents.
Citi forecasts a full year FY25 dividend of 11.20 cents and EPS of 14.80 cents.

Ord Minnett

xx/xx/xxxx

2

xxxxxxxxxx

$xx.xx

xx.xx%

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UBS

xx/xx/xxxx

1

xxx

$xx.xx

xx.xx%

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MGR STOCK CHART