Mirvac Group (MGR) AI Stock Analysis

• Market Cap: $9.23B
• Dividend Yield: 4.4%
• Average Volume (3M): 12.53M
• Price to Earnings (P/E): ―
• Beta (1Y): 1.01
• Revenue Growth: 22.66%
• EPS Growth: -3.80%
• Country: AU
• Employees: 1,684
• Sector: Real Estate
• Sector Strength: 83
• Industry: REIT - Office
• EPS (TTM): -0.15
• Shares Outstanding: 3,945,860,000
• 10 Day Avg. Volume: 14,277,185
• 30 Day Avg. Volume: 12,530,120
• PEG Ratio: -0.61
• Price to Book (P/B): 1.01
• Price to Sales (P/S): 0.00
• P/FCF Ratio: 11.40
• 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: $2.35
• Price Target Upside: 0.59% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 5

Mirvac Group's overall stock score reflects mixed financial health and technical stability. Strong revenue growth and a solid balance sheet are tempered by significant profitability issues and a negative P/E ratio. While the attractive dividend yield is a positive, it is overshadowed by operational challenges and unprofitability. The stock shows potential for income investors but requires caution due to its financial performance concerns.

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 shows a mixed financial performance. Strong revenue growth is overshadowed by significant net losses impacting profitability. The balance sheet is robust with a healthy equity ratio, but operational cash generation needs improvement.

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: 2.34
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Negative
• 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 2.34 is above the 20-day moving average (MA) of 2.22, above the 50-day MA of 2.15, and above the 200-day MA of 2.07, indicating a bullish trend. The MACD of 0.06 indicates Negative momentum. The RSI at 72.52 is Negative, neither overbought nor oversold. The STOCH value of 87.41 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 *	60 Neutral	$2.81B	11.05	0.20%	8508.34%	6.12%	-16.02%
MGR	54 Neutral	$9.23B	―	-6.29%	4.40%	22.66%	-3.80%

Mirvac Group Corporate Events

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.

State Street Increases Stake in Mirvac Group

Mirvac Group has experienced a change in the interests of a substantial holder, with State Street Global Advisors and its subsidiaries now holding a significant number of voting securities. This shift in voting power, from 9.51% to 10.72%, indicates a strategic move by State Street to increase its influence within Mirvac Group. The change in holdings could impact Mirvac’s governance and decision-making processes, potentially affecting stakeholders and the company’s future direction.

Mirvac Group Announces Board Committee Changes

Mirvac Group has announced changes to its board committee composition with the appointment of Rosemary Hartnett to the Mirvac Board, effective 1 March 2025. She will join the Audit, Risk and Compliance Committee and the Human Resources Committee, which could enhance the company’s governance and strategic oversight, potentially impacting its operations and stakeholder relations positively.

Mirvac Director Acquires 15,000 Stapled Securities

Mirvac Group announced a change in the director’s interest, with Director Rosemary Beryl Hartnett acquiring 15,000 Stapled Securities through an on-market purchase at an average price of $2.16 per security. This acquisition reflects a direct interest in the company, potentially indicating confidence in Mirvac’s market position and future prospects.

Mirvac Group Reports 1H25 Financial Results with Strong Development Pipeline

Mirvac Group’s financial results for the first half of 2025 show a slight increase in operating revenue to $1,284 million, although operating profit after tax decreased to $236 million from $252 million in the previous year. The company maintains a strong development pipeline valued at $29 billion and continues to focus on high-quality, sustainable real estate projects. Despite challenges, such as a minor decline in statutory profit, Mirvac’s diverse portfolio and strategic focus aim to provide long-term value to its stakeholders.

Mirvac Group Highlights Strategic and Financial Insights for 1H25

Mirvac Group has provided additional information regarding its operations and financial performance for the first half of 2025. The company emphasizes its unique competitive advantages and deep platform value, alongside a strong focus on sustainability and decarbonization as part of its strategic agenda. This release highlights the company’s financial performance, including income and operating results, and outlines its investment and capital management strategies. Key insights include details on the company’s portfolio across various sectors such as office, industrial, retail, and build-to-rent properties, as well as its ongoing and pipeline projects. These strategic insights are expected to have significant implications for its market positioning and stakeholder engagement.

Mirvac Group Announces 1H25 Results

Mirvac Group has announced its results for the first half of 2025, providing insights into its financial performance and strategic initiatives. The release highlights the company’s focus on investment, development, and funds management, underscoring its commitment to enhancing shareholder value and maintaining its competitive position in the real estate industry.

Mirvac Property Trust Releases Interim Financial Report for 1H25

Mirvac Property Trust has released its interim report for the half-year ending December 31, 2024, showcasing the financial position and performance of the consolidated entity. While the report provides a snapshot of the trust’s financial health, stakeholders are encouraged to review it alongside the annual report and any recent public announcements for a comprehensive understanding of its operational and financial context.

Mirvac Group Reports Strong 1H25 Results and Strategic Progress

Mirvac Group reported a strong interim result for the first half of fiscal year 2025, with an operating profit of $236 million and maintaining a distribution of 4.5 cents per stapled security. The company demonstrated significant progress in its strategic initiatives, including a 51% increase in residential lot sales, completion of new developments, and expansion in the living sector. Mirvac’s robust balance sheet and strategic capital initiatives have positioned it for future growth, with a committed development pipeline expected to deliver substantial operating income and development value. The company maintained high occupancy rates across its portfolios and captured positive rental reversions, despite challenges in asset valuations.

Mirvac Group’s 1H25 Interim Report Highlights Strong Development Pipeline and Strategic Agility

The Mirvac Group’s Interim Report for the first half of 2025 highlights a consolidated summary of the company’s operational and financial performance. The report, which covers the period from July to December 2024, provides insights into the company’s strategic direction and financial health. Mirvac continues to focus on delivering sustainable real estate solutions and has a significant development pipeline. The report emphasizes the company’s integrated approach, allowing it to influence every project stage and maintain agility in response to market changes. This strategic direction aims to drive long-term value for its stakeholders.

Mirvac Group Confirms Distribution Update for December 2024

Mirvac Group has announced a distribution of 4.5 cents per Stapled Security from Mirvac Property Trust, with no dividend paid from Mirvac Limited. This update confirms the actual distribution for the period ending December 31, 2024, reflecting the company’s ongoing financial activities and providing clarity to stakeholders on the fiscal outcomes.

Mirvac Group Reports Revenue Growth Despite Profit Decline

Mirvac Group has reported a 2% increase in total revenue for the first half of 2024, bringing it to $1,284 million compared to $1,261 million in the previous year. However, the company experienced a 6% decline in operating profit after tax, down to $236 million from $252 million. Notably, the profit attributable to stapled security holders saw a significant turnaround, rising from a $201 million loss in 2023 to a $1 million profit in 2024. These results reflect the company’s efforts to stabilize and improve financial performance, which may positively influence its market position and offer cautious optimism for its stakeholders.