MIRVAC GROUP |
Market Closed -
Other stock markets
|
5-day change | 1st Jan Change | ||
| 2.08 AUD | -0.95% |
|
+1.46% | -0.48% |
| May. 02 | CLSA Upgrades Mirvac Group to Reduce from Sell, Price Target is AU$2.02 | MT |
| May. 01 | Mirvac Reaffirms AU$0.14 to AU$0.143 Operating EPS Guidance for FY24 | MT |
Valuation
| Fiscal Period: June | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Capitalization 1 | 12,239 | 8,533 | 11,498 | 7,788 | 8,918 | 8,286 | - | - |
| Enterprise Value (EV) 1 | 15,553 | 12,509 | 15,303 | 11,521 | 13,336 | 12,596 | 12,908 | 13,178 |
| P/E ratio | 11.3 x | 15.3 x | 12.8 x | 8.59 x | -53.8 x | 15.3 x | 14.6 x | 12.5 x |
| Yield | 3.71% | 4.19% | 3.39% | 5.16% | 4.65% | 4.99% | 5.1% | 5.37% |
| Capitalization / Revenue | 14.1 x | 11.1 x | 14.7 x | 9.91 x | 11.5 x | 9.19 x | 9.1 x | 8.59 x |
| EV / Revenue | 17.9 x | 16.2 x | 19.6 x | 14.7 x | 17.2 x | 14 x | 14.2 x | 13.7 x |
| EV / EBITDA | 17.3 x | 14.3 x | 19.7 x | 13.5 x | 15.9 x | 15.1 x | 15 x | 14.2 x |
| EV / FCF | - | 27.7 x | 24.2 x | 13 x | -222 x | 19.4 x | -43 x | 40.2 x |
| FCF Yield | - | 3.61% | 4.13% | 7.72% | -0.45% | 5.16% | -2.32% | 2.49% |
| Price to Book | 1.24 x | 0.84 x | 1.09 x | 0.7 x | 0.84 x | 0.76 x | 0.73 x | 0.71 x |
| Nbr of stocks (in thousands) | 3,910,134 | 3,932,383 | 3,937,557 | 3,943,403 | 3,945,860 | 3,945,860 | - | - |
| Reference price 2 | 3.130 | 2.170 | 2.920 | 1.975 | 2.260 | 2.100 | 2.100 | 2.100 |
| Announcement Date | 8/7/19 | 8/19/20 | 8/11/21 | 8/10/22 | 8/15/23 | - | - | - |
1AUD in Million2AUD
Estimates
Income Statement Evolution (Annual data)
| Fiscal Period: June | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 867 | 771 | 781 | 786 | 777 | 901.9 | 910.6 | 965.1 |
| EBITDA 1 | 901 | 872 | 775 | 856 | 840 | 834.3 | 862.6 | 925.6 |
| EBIT 1 | 849 | 796 | 704 | 773 | 767 | 826.4 | 842 | 908.2 |
| Operating Margin | 97.92% | 103.24% | 90.14% | 98.35% | 98.71% | 91.63% | 92.47% | 94.1% |
| Earnings before Tax (EBT) 1 | 1,072 | 583 | 934 | 985 | -182 | 323.9 | 624.2 | 664.4 |
| Net income 1 | 1,019 | 558 | 901 | 906 | -165 | 538.5 | 535.2 | 793.2 |
| Net margin | 117.53% | 72.37% | 115.36% | 115.27% | -21.24% | 59.7% | 58.77% | 82.18% |
| EPS 2 | 0.2760 | 0.1420 | 0.2290 | 0.2300 | -0.0420 | 0.1377 | 0.1438 | 0.1674 |
| Free Cash Flow 1 | - | 451 | 632 | 889 | -60 | 650.5 | -300 | 328 |
| FCF margin | - | 58.5% | 80.92% | 113.1% | -7.72% | 72.13% | -32.94% | 33.99% |
| FCF Conversion (EBITDA) | - | 51.72% | 81.55% | 103.86% | - | 77.97% | - | 35.44% |
| FCF Conversion (Net income) | - | 80.82% | 70.14% | 98.12% | - | 120.81% | - | 41.35% |
| Dividend per Share 2 | 0.1160 | 0.0910 | 0.0990 | 0.1020 | 0.1050 | 0.1048 | 0.1070 | 0.1128 |
| Announcement Date | 8/7/19 | 8/19/20 | 8/11/21 | 8/10/22 | 8/15/23 | - | - | - |
1AUD in Million2AUD
Estimates
Income Statement Evolution (Quarterly data)
| Fiscal Period: Juni | 2020 S1 | 2020 S2 | 2021 S1 | 2021 S2 | 2022 S1 | 2022 S2 | 2023 S1 | 2023 S2 | 2024 S1 | 2024 S2 | 2025 S1 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Net sales | - | 381 | 534.3 | - | - | - | - | 378 | - | - | - |
| EBITDA | - | - | - | - | - | - | - | - | - | - | - |
| EBIT | - | 336 | 395.7 | - | - | 382 | - | - | - | - | - |
| Operating Margin | - | 88.19% | 74.06% | - | - | - | - | - | - | - | - |
| Earnings before Tax (EBT) | - | - | - | - | - | - | - | - | - | - | - |
| Net income | 613 | - | 351.5 | - | 565 | - | - | - | - | - | - |
| Net margin | - | - | 65.79% | - | - | - | - | - | - | - | - |
| EPS | 0.1560 | - | 0.0890 | - | 0.1430 | - | 0.0545 | - | - | - | - |
| Dividend per Share 1 | 0.0610 | 0.0300 | 0.0480 | 0.0495 | 0.0510 | 0.0510 | 0.0520 | 0.0530 | 0.0450 | 0.0600 | 0.0600 |
| Announcement Date | 2/5/20 | 8/19/20 | 2/11/21 | 8/11/21 | 2/9/22 | 8/10/22 | 2/8/23 | 8/15/23 | 2/7/24 | - | - |
1AUD
Estimates
Balance Sheet Analysis
| Fiscal Period: Juni | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net Debt 1 | 3,314 | 3,976 | 3,805 | 3,733 | 4,418 | 4,310 | 4,622 | 4,891 |
| Net Cash position 1 | - | - | - | - | - | - | - | - |
| Leverage (Debt/EBITDA) | 3.678 x | 4.56 x | 4.91 x | 4.361 x | 5.26 x | 5.166 x | 5.358 x | 5.285 x |
| Free Cash Flow 1 | - | 451 | 632 | 889 | -60 | 651 | -300 | 328 |
| ROE (net income / shareholders' equity) | 11% | 5.59% | 5.32% | 5.49% | 5.35% | 5.12% | 5.2% | 5.47% |
| ROA (Net income/ Total Assets) | 3.28% | 3.74% | 3.51% | 3.6% | 3.4% | 3.72% | 3.84% | 3.96% |
| Assets 1 | 31,067 | 14,913 | 25,640 | 25,172 | -4,849 | 14,483 | 13,926 | 20,049 |
| Book Value Per Share 2 | 2.520 | 2.570 | 2.690 | 2.820 | 2.680 | 2.780 | 2.890 | 2.970 |
| Cash Flow per Share 2 | 0.1400 | 0.1200 | 0.1600 | 0.2300 | -0.0100 | 0.0900 | 0.1100 | 0.1000 |
| Capex 1 | - | 700 | 634 | 7 | 3 | 151 | 143 | 144 |
| Capex / Sales | - | 90.79% | 81.18% | 0.89% | 0.39% | 16.73% | 15.66% | 14.94% |
| Announcement Date | 8/7/19 | 8/19/20 | 8/11/21 | 8/10/22 | 8/15/23 | - | - | - |
1AUD in Million2AUD
Estimates
EPS & Dividend
Year-on-year evolution of the PER
Year-on-year evolution of the Yield
Change in Enterprise Value/EBITDA
Trading Rating
Investor Rating
ESG Refinitiv
A
Sell
Buy
Mean consensus
OUTPERFORM
Number of Analysts
12
Last Close Price
2.1
AUD
Average target price
2.344
AUD
Spread / Average Target
+11.63%
EPS Revisions
| 1st Jan change | Capi. | |
|---|---|---|
| -0.48% | 5.45B | |
| -12.37% | 12.43B | |
| -9.22% | 7.92B | |
| -3.09% | 5.72B | |
| -8.62% | 5.35B | |
| +4.05% | 4.85B | |
| -5.88% | 4.66B | |
| +5.67% | 4.74B | |
| +5.20% | 3.95B | |
| -14.53% | 3.13B |
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- Financials Mirvac Group