MIRVAC GROUP (MGR)
Share Price Analysis and Chart

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MGR

MGR - MIRVAC GROUP

FNArena Sector : Infra & Property Developers
Year End: June
GICS Industry Group : Real Estate
Debt/EBITDA: 6.26
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

$2.26

04 Jul
2025

0.010

OPEN

$2.25

0.44%

HIGH

$2.27

6,355,393

LOW

$2.23

TARGET
$2.356 4.2% upside
OTHER COMPANIES IN THE SAME SECTOR
CMW . CWP . FRI . FWD . GMG . GOZ . GPT . LIC . LLC . PPC . SFC . SGP . SIO . UOS .
FNARENA'S MARKET CONSENSUS FORECASTS
MGR: 1
Title FY23
Actual		 FY24
Actual		 FY25
Forecast		 FY26
Forecast
EPS (cps) xxx - 20.4 12.4 xxx
DPS (cps) xxx 10.5 9.1 xxx
EPS Growth xxx N/A N/A xxx
DPS Growth xxx 0.0% - 13.7% xxx
PE Ratio xxx N/A 18.3 xxx
Dividend Yield xxx N/A 4.0% xxx
Div Pay Ratio(%) xxx N/A 73.3% xxx

Dividend yield today if purchased 3 years ago: 5.22%

DIVIDEND YIELD CALCULATOR

Dividend Yield Today On Last Actual Payout :

 4.65

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: 28/12 - ex-div 4.5c (franking 0%)

HISTORICAL DATA ARE ALL IN AUD
Copyright © 2025 FactSet UK Limited. All rights reserved
Title 201920202021202220232024
EPS Basic xxxxxxxxxxxxxxx-20.4
DPS All xxxxxxxxxxxxxxx10.5
Sales/Revenue xxxxxxxxxxxxxxx3,025.0 M
Book Value Per Share xxxxxxxxxxxxxxx237.0
Net Operating Cash Flow xxxxxxxxxxxxxxx542.0 M
Net Profit Margin xxxxxxxxxxxxxxx-26.61 %

EPS Basic

DPS All

Sales/Revenue

Book Value Per Share

Net Operating Cash Flow

Net Profit Margin

Title 201920202021202220232024
Return on Capital Employed xxxxxxxxxxxxxxx-8.09 %
Return on Invested Capital xxxxxxxxxxxxxxx-5.65 %
Return on Assets xxxxxxxxxxxxxxx-4.89 %
Return on Equity xxxxxxxxxxxxxxx-8.09 %
Return on Total Capital xxxxxxxxxxxxxxx4.43 %
Free Cash Flow ex dividends xxxxxxxxxxxxxxx154.0 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 201920202021202220232024
Short-Term Debt xxxxxxxxxxxxxxx190 M
Long Term Debt xxxxxxxxxxxxxxx4,290 M
Total Debt xxxxxxxxxxxxxxx4,480 M
Goodwill - Gross xxxxxxxxxxxxxxx67 M
Cash & Equivalents - Generic xxxxxxxxxxxxxxx335 M
Price To Book Value xxxxxxxxxxxxxxx0.79

Short-Term Debt

Long Term Debt

Total Debt

Goodwill - Gross

Cash & Equivalents - Generic

Price To Book Value

Title 201920202021202220232024
Capex xxxxxxxxxxxxxxx2.0 M
Capex % of Sales xxxxxxxxxxxxxxx0.07 %
Cost of Goods Sold xxxxxxxxxxxxxxx2,134 M
Selling, General & Admin. Exp & Other xxxxxxxxxxxxxxx250 M
Research & Development xxxxxxxxxxxxxxx-
Investments - Total xxxxxxxxxxxxxxx10,337 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

0.2

No. Of Recommendations

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

Ord Minnett

xx/xx/xxxx

3

xxxx

$xx.xx

xx.xx%

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UBS

xx/xx/xxxx

3

xxxxxxx

$xx.xx

xx.xx%

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Morgan Stanley

16/06/2025

3

Equal-weight

$2.45

8.41%

While Stockland ((SGR)) and Mirvac Group should benefit from lower interest rates as residential sales volumes improve, Morgan Stanley emphasises Stockland is in a better position to outperform.

The analyst proposes residential-related income for Stockland will be over 50% of earnings before interest and tax, with a heavy exposure to Macquarie Park 2, industrial, and data centres, which underwrites potential development upside.

Morgan Stanley argues the return on capital employed (ex-investments) is around 5pts higher than Mirvac's due to fee-generating residential/land-lease partnerships, while Mirvac's office developments are not as lucrative as before FY22.

Equal-weight retained. Target price lifts to $2.45 from $2.25. Industry view: In Line.

FORECAST
Morgan Stanley forecasts a full year FY25 dividend of 9.00 cents and EPS of 12.10 cents.
Morgan Stanley forecasts a full year FY26 dividend of 9.10 cents and EPS of 12.90 cents.

Citi

xx/xx/xxxx

3

xxxxxxx

$xx.xx

xx.xx%

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Macquarie

xx/xx/xxxx

1

xxxxxxxxxx

$xx.xx

xx.xx%

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Access Stockbroker Research History >
EXTRA COVERAGE
Display All Commentary

No. Of Recommendations

1

Please note: unlike Broker Call Report, BC Extra is not updated daily. The info you see might not be the latest. FNArena does its best to update ASAP.

BROKER DATE RATING RECOMMENDATION TARGET PRICE % TO REACH TARGET COMMENTARY

Jarden

02/07/2025

3

Neutral

$2.45

8.41%

Jarden has revised its RBA cash rate expectations, now expecting a -25bps cut in July and the terminal rate forecast of 3.10% to be reached in November vs February 2026 previously.

The broker expects the updated forecasts to benefit Mirvac Group and Stockland ((SGP)). 

Still, the analyst cut the FY26 EPS forecast by -2.8% on a slower recovery in residential development. but notes upside risks if the rate cuts drive more demand.

Every 5% additional volume would lift earnings by 2%, the broker estimates. Neutral. Target cut to $2.45 from $2.50.

FORECAST
Jarden forecasts a full year FY25 dividend of 9.00 cents and EPS of 12.20 cents.
Jarden forecasts a full year FY26 dividend of 9.40 cents and EPS of 12.90 cents.
Access Extra Coverage Research History >

MGR STOCK CHART

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