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: 12.31
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

$2.29

02 Oct
2025

0.010

OPEN

$2.28

0.44%

HIGH

$2.32

9,838,842

LOW

$2.26

TARGET
$2.452 7.1% upside
OTHER COMPANIES IN THE SAME SECTOR
CMW . CWP . FRI . FWD . GLF . GMG . GOZ . GPT . LIC . LLC . PPC . SFC . SGP . SIO . UOS .
FNARENA'S MARKET CONSENSUS FORECASTS
MGR: 1
Title FY24
Actual		 FY25
Actual		 FY26
Forecast		 FY27
Forecast
EPS (cps) xxx 1.7 12.9 xxx
DPS (cps) xxx 9.0 9.9 xxx
EPS Growth xxx N/A 100.0% xxx
DPS Growth xxx - 14.3% 9.7% xxx
PE Ratio xxx N/A 17.9 xxx
Dividend Yield xxx N/A 4.3% xxx
Div Pay Ratio(%) xxx 523.3% 76.4% xxx

Dividend yield today if purchased 3 years ago: 4.39%

DIVIDEND YIELD CALCULATOR

Dividend Yield Today On Last Actual Payout :

 3.90

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 202020212022202320242025
EPS Basic xxxxxxxxxxxxxxx1.7
DPS All xxxxxxxxxxxxxxx9.0
Sales/Revenue xxxxxxxxxxxxxxx2,466.0 M
Book Value Per Share xxxxxxxxxxxxxxx229.5
Net Operating Cash Flow xxxxxxxxxxxxxxx550.0 M
Net Profit Margin xxxxxxxxxxxxxxx2.76 %

EPS Basic

DPS All

Sales/Revenue

Book Value Per Share

Net Operating Cash Flow

Net Profit Margin

Title 202020212022202320242025
Return on Capital Employed xxxxxxxxxxxxxxx0.74 %
Return on Invested Capital xxxxxxxxxxxxxxx0.51 %
Return on Assets xxxxxxxxxxxxxxx0.44 %
Return on Equity xxxxxxxxxxxxxxx0.74 %
Return on Total Capital xxxxxxxxxxxxxxx2.19 %
Free Cash Flow ex dividends xxxxxxxxxxxxxxx133.0 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 202020212022202320242025
Short-Term Debt xxxxxxxxxxxxxxx479 M
Long Term Debt xxxxxxxxxxxxxxx4,065 M
Total Debt xxxxxxxxxxxxxxx4,544 M
Goodwill - Gross xxxxxxxxxxxxxxx67 M
Cash & Equivalents - Generic xxxxxxxxxxxxxxx236 M
Price To Book Value xxxxxxxxxxxxxxx0.96

Short-Term Debt

Long Term Debt

Total Debt

Goodwill - Gross

Cash & Equivalents - Generic

Price To Book Value

Title 202020212022202320242025
Capex xxxxxxxxxxxxxxx2.0 M
Capex % of Sales xxxxxxxxxxxxxxx0.08 %
Cost of Goods Sold xxxxxxxxxxxxxxx1,826 M
Selling, General & Admin. Exp & Other xxxxxxxxxxxxxxx340 M
Research & Development xxxxxxxxxxxxxxx-
Investments - Total xxxxxxxxxxxxxxx9,791 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

0.4

No. Of Recommendations

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

Morgan Stanley

xx/xx/xxxx

3

xxxxx-xxxxxx

$xx.xx

xx.xx%

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Macquarie

xx/xx/xxxx

1

xxxxxxxxxx

$xx.xx

xx.xx%

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Citi

18/08/2025

1

Upgrade to Buy from Neutral

$2.60

13.54%

Citi highlights Mirvac Group's result showed a return to EPS growth following a tough FY25, and is expecting growth to pick up in FY27-28 as key development projects are completed.

The broker sees upside to the current PE multiple of 18x FY26 earnings, and upside to the consensus forecasts for FY27-28.

Rating lifted to Buy from Neutral. Target rises to $2.60 from $2.30.

Previously in first impressions, the broker noted the following:

Mirvac Group's operating earnings of $474m were at the lower end of guidance and slightly below the broker's expectations.

FY26 EPS guidance of 12.8-13.0c also came in modestly under consensus.

The broker expects the share price to soften given earnings at the low end of guidance and softer FY26 guidance.

Residential settlements of 2,122 were ahead of consensus. Strong sales momentum from new Sydney project launches and a pick-up in MPC sales, explain the analysts, supported by an additional 279 of conditional sales.

Residential margins fell to 14.9% in FY25 on higher construction costs, but management expects 18-22% margins in FY26 as weaker-margin projects are largely absorbed.

The investment portfolio saw slight cap rate compression to 5.75%, offsetting softer office valuations, with positive re-leasing spreads across all sectors, highlights Citi.

FORECAST
Citi forecasts a full year FY26 dividend of 10.50 cents and EPS of 13.00 cents.
Citi forecasts a full year FY27 dividend of 12.50 cents and EPS of 14.60 cents.

UBS

xx/xx/xxxx

3

xxxxxxx

$xx.xx

xx.xx%

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Ord Minnett

xx/xx/xxxx

3

xxxx

$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

11/09/2025

3

Neutral

$2.50

9.17%

Jarden notes REIT stocks outperformed in August, up 6.2%, with the performance supported by the sector exceeding elevated expectations during the result season.

Macro tailwinds like rate cuts, cap rate compression and limited supply support rental/price growth and asset values. Balance sheets are healthy, enabling capital deployment and potential consolidation-driven upside.

Among key risks in the broker's view are elevated rates vs past cycles, regulatory headwinds, and a wide gap between underlying and cash-backed earnings.

The broker believes FY26 will be a turning point for Mirvac Group, with improved and potentially accelerating EPS and AFFO growth over the next few years.

Neutral. Target rises to $2.50 from $2.40.

FORECAST
Jarden forecasts a full year FY26 EPS of 13.17 cents.
Jarden forecasts a full year FY27 EPS of 14.58 cents.
Access Extra Coverage Research History >

MGR STOCK CHART

FNArena News on MGR

Latest Infra & Property Developers News

1
Goodman Silences The Critics

May 18 2022 - Australia
2
Treasure Chest: Stockland Ready To De-Couple

Apr 05 2022 - Treasure Chest
3
Stockland: Property Portfolio In Transformation

Nov 10 2021 - Australia
4
The Goodman Group Good News Story Continues

Nov 03 2021 - Australia
5
Goodman Group: Momentum Strong

Oct 26 2021 - Technicals
6
Will There Be Upside From Lendlease Targets?

Sep 06 2021 - Australia
7
Mirvac’s Earnings Wired To Apartment Resurgence

Aug 17 2021 - Australia
8
Stockland Ups Exposure To Land Lease Sector

Jul 21 2021 - Australia
9
Warehousing Demand Powers Goodman Group

Feb 22 2021 - Australia
10
Short-Term Uncertainties Weigh On Mirvac

Feb 15 2021 - Australia