Mirvac Group (MGR) AI Stock Analysis

• Market Cap: $9.35B
• Dividend Yield: 2.5%
• Average Volume (3M): 10.55M
• Price to Earnings (P/E): ―
• Beta (1Y): 0.98
• Revenue Growth: 22.66%
• EPS Growth: -3.80%
• Country: AU
• Employees: 1,684
• Sector: Real Estate
• Sector Strength: 69
• Industry: REIT - Office
• EPS (TTM): -0.15
• Shares Outstanding: 3,945,860,000
• 10 Day Avg. Volume: 9,065,986
• 30 Day Avg. Volume: 10,553,291
• PEG Ratio: 0.46
• Price to Book (P/B): 0.84
• Price to Sales (P/S): 0.00
• P/FCF Ratio: -143.77
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: $2.36
• Price Target Upside: -0.40% Downside
• Rating Consensus: Hold
• Number of Analyst Covering: 5

• Rating: 55 Neutral
• Price Target: AU$2.50 ▲(5.49%Upside)

The overall stock score reflects a mixed financial performance with strong revenue growth overshadowed by significant net losses. Technical indicators point to a slightly bullish trend, but valuation is hindered by a negative P/E ratio. The stable dividend yield offers some compensation for the financial challenges.

Mirvac Group Business Overview & Revenue Model

Company Description

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. Of course, we've evolved a lot over that time growing from a small joint venture to become a thriving ASX-listed property group that leads the way in innovation, sustainability and placemaking. Renowned for the quality of our products, we've created some of Australia's most iconic places and precincts, from thriving masterplanned communities, to landmark offices including our own headquarters at EY Centre, 200 George Street, Sydney. At the heart of every project there exists a deep commitment to our customers and communities.

How the Company Makes Money

Mirvac Group generates revenue through a diversified business model that combines property development, investment, and management. The company's primary revenue streams include the sale of residential properties, such as apartments and houses, and income from leasing office, retail, and industrial properties. Mirvac also earns money through property management services and co-investments in property development projects. Significant partnerships with government bodies and other real estate developers enhance its earnings potential. Additionally, the company benefits from its large portfolio of investment properties, which provides consistent rental income and capital growth opportunities.

Mirvac Group Financial Statement Overview

Summary

Mirvac Group exhibits strong revenue growth; however, significant net losses negatively impact profitability and return metrics. The balance sheet is robust with a healthy equity ratio, but the cash flow statement suggests operational cash generation needs improvement to sustain free cash flow.

Income Statement

Mirvac Group's income statement shows some concerning trends. While the gross profit margin for 2024 is approximately 30.0%, there is a significant net loss of AUD 805 million, resulting in a negative net profit margin of -26.6%. The revenue has grown by 59.9% from 2023 to 2024, indicating positive sales growth. However, the EBIT and EBITDA margins, at 21.2% and 23.7% respectively, reflect operational efficiency issues, compounded by the large net loss.

Balance Sheet

The balance sheet reveals a strong equity base with a debt-to-equity ratio of 0.48, suggesting moderate leverage, which is common for REITs. The equity ratio stands at 60.1%, indicating financial stability. However, the decline in stockholders' equity from 2023 to 2024 raises concerns about asset valuation or additional liabilities. The return on equity is negative due to the net loss, which is a significant downside.

Cash Flow

Mirvac Group's cash flow statement highlights a recovery in free cash flow, which is AUD 540 million for 2024. The operating cash flow to net income ratio is negative due to the net loss, and the free cash flow growth rate is strong compared to the previous year. Nevertheless, the operating cash flow is less than ideal, indicating a need for improved cash generation from operations.

Breakdown
TTM	Jun 2024	Jun 2023	Jun 2022	Jun 2021	Jun 2020
Income Statement		Total Revenue
2.99B	2.95B	1.89B	2.30B	1.80B	2.10B
	Gross Profit
866.00M	833.00M	835.00M	854.00M	753.00M	820.00M
	EBIT
654.00M	641.00M	463.00M	565.00M	507.00M	544.00M
	EBITDA
641.00M	716.00M	41.00M	648.00M	578.00M	612.00M
	Net Income Common Stockholders
-603.00M	-805.00M	-165.00M	906.00M	901.00M	558.00M
Balance Sheet		Cash, Cash Equivalents and Short-Term Investments
76.00M	335.00M	122.00M	558.00M	117.00M	324.00M
	Total Assets
15.44B	15.56B	17.15B	17.38B	16.15B	15.77B
	Total Debt
4.70B	4.48B	4.54B	4.29B	3.99B	4.37B
	Net Debt
4.62B	4.14B	4.42B	3.73B	3.87B	4.05B
	Total Liabilities
6.28B	6.21B	6.59B	6.18B	5.49B	5.63B
	Stockholders Equity
9.17B	9.35B	10.56B	11.13B	10.59B	10.09B
Cash Flow		Free Cash Flow
810.00M	540.00M	-62.00M	888.00M	630.00M	446.00M
	Operating Cash Flow
812.00M	542.00M	-57.00M	896.00M	635.00M	450.00M
	Investing Cash Flow
-213.00M	126.00M	-315.00M	-436.00M	-492.00M	-443.00M
	Financing Cash Flow
-750.00M	-455.00M	-64.00M	-19.00M	-350.00M	183.00M

Mirvac Group Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 2.37
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Neutral
• STOCH: Negative

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For AU:MGR, the sentiment is Positive. The current price of 2.37 is above the 20-day moving average (MA) of 2.31, above the 50-day MA of 2.25, and above the 200-day MA of 2.11, indicating a bullish trend. The MACD of 0.03 indicates Negative momentum. The RSI at 60.86 is Neutral, neither overbought nor oversold. The STOCH value of 82.69 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for AU:MGR.

Mirvac Group Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
Sector *	61 Neutral	$2.83B	10.72	0.40%	6.10%	5.80%	-21.26%
MGR	55 Neutral	$9.35B	―	-6.29%	2.50%	22.66%	-3.80%
CTOUF		$5.93B	297.42	1.03%	1.49%	―	―
FKKEF		$733.67M	49.75	1.57%	5.20%	―	―
GMGSF		$44.85B	67.53	5.14%	0.86%	―	―
GPTGF		$6.15B	―	-1.94%	4.63%	―	―
STGPF		$12.44B	17.92	5.94%	4.54%	―	―

Mirvac Group Corporate Events

Mirvac Group Announces Cessation of Performance Rights

Mirvac Group announced the cessation of certain securities, specifically the lapse of 646,913 LTP performance rights and 144,645 STI performance rights, due to unmet conditions. This cessation may impact the company’s capital structure and could influence investor perceptions regarding the company’s performance and future prospects.

Mirvac Group Reports Strong 3Q25 Performance and Strategic Progress

Mirvac Group’s operational update for the third quarter of 2025 highlights continued momentum across its business segments, with strong residential sales growth and significant progress in capital partnerships for major developments. The company maintained high occupancy rates across its investment portfolio and achieved notable leasing success, particularly in the office and industrial sectors. Mirvac’s strategic objectives for FY25 are on track, supported by a strong balance sheet and positive market conditions, positioning the company well for future earnings and growth.

Mirvac Group Announces Change of Registry Address

Mirvac Group has announced a change in the registry address for its Sydney office of MUFG Corporate Markets (AU) Limited, effective from 14 April 2025. The move to Liberty Place, Level 41, 161 Castlereagh Street, Sydney, NSW 2000, does not affect telephone numbers or postal addresses. This change is part of the company’s ongoing efforts to streamline operations and maintain its strong market position in the real estate sector.