Mirvac Group MGR

Stock XASX Rating as of Oct 2, 2026

A$1.78 −0.01 (0.56%)

View Full Chart

As of Oct 2, 2026, 6:10:23 AM Delayed Price Closed

Company Report

View Archive

Mirvac's Residential Development Business Appears Resilient

Yingqi Tan, Oriana Pham Aug 19, 2026

Mirvac is best known as one of Australia’s largest residential property developers. But the majority of its earnings are passive, from collecting rents and investment and property management fees. Active income from selling developed properties is lumpy and volatile. The investment portfolio (passive) accounts for roughly three-fourths of total invested capital and development (active) one-fourth. Depending on projects available in the pipeline and the property market cycle, the investment/development split varies year by year. But in general, the group allocates less than 30% of capital to development.

Read Analysis

Price vs Fair Value

View History

MGR is trading at a LOCK|R<$ premium.

Price

A$1.78

Oct 2, 2026

Fair Value

^.N

Aug 9, 2024

Uncertainty

LOCK|<^q<

1-Star Price: LOCK|zf
5-Star Price: LOCK|w%
Economic Moat: LOCK|FF
Capital Allocation: LOCK|&<tx!h

Bulls Say, Bears Say

Bulls

Strong population growth should underpin Mirvac’s earnings, particularly residential sales, and rents in the retail, industrial, build-to-rent, and land-lease sectors.

Bears

While Mirvac has some high-quality office assets, it also has significant exposure to the non-CBD office markets, where we expect occupancy recovery will be slower than towers in city centers.

Trading Information

Previous Close Price: A$1.79
Day Range: A$1.77–1.81
52-Week Range: A$1.61–2.46
Bid/Ask: A$1.77 / A$1.79
Shares Outstanding: 3.88B
Market Cap: A$7.02B
Volume/Avg: 13M / 13M

Key Statistics

Price/Earnings (Normalized): 11.45
Price/Sales: 2.72
Dividend Yield (Trailing): 5.34%
Dividend Yield (Forward): 5.39%
Dividend Payment Schedule: Feb, Aug
Total Yield: 5.34%

Company Profile

Mirvac started off as a residential property developer and over time expanded into property investment, funds management, and commercial property development. Investment is the major earnings driver, generating about two-thirds of group earnings. The investment portfolio, by book value, is made up of 51% office, 21% retail, 20% industrial and the rest is build-to-rent and land lease assets. Longer term, Mirvac aims to increase exposure to the industrial and living sectors and own fewer offices and retail centers. Development income is volatile and was around one-third of fiscal 2026 group earnings. Besides developing apartments and houses, which Mirvac is best known for, it is also involved in commercial and mixed-use precinct developments.

Sector: Real Estate
Industry: REIT - Diversified
Stock Style Box: Mid Value
Total Number of Employees: 1,550
Website: https://www.mirvac.com

Competitors

Valuation

Metric	MGR	DXS	SGP
Price/Earnings (Normalized)	11.45	9.61	10.71
Price/Book Value	0.75	0.60	0.94
Price/Sales	2.72	9.43	2.80
Price/Cash Flow	8.07	11.44	11.49

Price/Earnings

MGR

DXS

SGP

Financial Strength

Metric	MGR	DXS	SGP
Quick Ratio	0.27	0.18	0.70
Current Ratio	0.84	0.28	1.69
Interest Coverage	3.64	2.02	7.34

Quick Ratio

MGR

DXS

SGP

Profitability

Metric	MGR	DXS	SGP
Return on Assets (Normalized)	4.02%	3.51%	4.85%
Return on Equity (Normalized)	6.48%	5.40%	8.59%
Return on Invested Capital (Normalized)	4.07%	3.62%	4.54%

Return on Assets

MGR

DXS

SGP

REIT - Diversified Industry Comparables

Screen With Investor

Name	Capital Allocation	Economic Moat	Market Cap
Goodman Group GMGSF	—	LOCK\|Jg<&H	$38B
VICI Properties Inc Ordinary Shares VICI	—	LOCK\|c?$	$25B
W.P. Carey Inc WPC	—	LOCK\|@h%	$15B
Stockland Corp Ltd STKAF	—	LOCK\|^GL	$7B
Land Securities Group PLC ADR LDSCY	—	LOCK\|rF	$7B
Land Securities Group PLC LSGOF	—	LOCK\|B@r	$7B
Fibra Uno Administracion SA de CV Certificados Bursatiles Fiduciarios Inmobiliario Series -11- FBASF	—	LOCK\|$Jz	$6B
Charter Hall Group CTOUF	—	LOCK\|Dc$^c	$6B
GPT Group GPTGF	—	LOCK\|?C	$6B
Covivio SA GSEFF	—	LOCK\|RZb	$5B