Company Valuation: Mirvac Group

Data adjusted to current consolidation scope
Fiscal Period: June 2022 2023 2024 2025 2026 2027 2028 2029
Market Cap 1 7,788 8,918 7,379 8,681 6,787 6,925 - -
Change - 14.51% -17.26% 17.65% -21.82% 2.03% - -
Enterprise Value (EV) 1 11,521 13,336 11,524 12,909 10,337 10,795 10,849 11,039
Change - 15.76% -13.59% 12.02% -19.92% 4.43% 0.5% 1.75%
P/E 8.59x -53.8x -9.17x 129x 10x 12x 10.7x 10.6x
PBR 0.7x 0.84x 0.79x 0.96x 0.73x 0.68x 0.66x 0.64x
PEG - 0x -0x -1x 0x -0.8x 0.8x 11.62x
Capitalization / Revenue 9.91x 11.5x 10.5x 13.5x 10.6x 7.06x 6.65x 6.39x
EV / Revenue 14.7x 17.2x 16.3x 20x 16.1x 11x 10.4x 10.2x
EV / EBITDA 13.5x 15.9x 12.3x 16x 11.6x 12.6x 11.7x 11.9x
EV / EBIT 14.9x 17.4x 13.4x 17.5x 12.5x 12.5x 11.6x 11.8x
EV / FCF 13x -222x 21.3x 23.6x 11.9x 61.7x 39.9x 55.3x
FCF Yield 7.72% -0.45% 4.69% 4.25% 8.43% 1.62% 2.51% 1.81%
Dividend per Share 2 0.102 0.105 0.105 0.09 0.095 0.1008 0.1075 0.1125
Rate of return 5.16% 4.65% 5.61% 4.09% 5.52% 5.75% 6.12% 6.41%
EPS 2 0.23 -0.042 -0.204 0.017 0.172 0.1458 0.1645 0.166
Distribution rate 44.3% -250% -51.5% 529% 55.2% 69.2% 65.3% 67.8%
Net sales 1 786 777 705 644 641 981 1,042 1,083
EBITDA 1 856 840 935 805 889 856.3 928.3 924.9
EBIT 1 773 767 860 736 826 861.5 932.5 937.4
Net income 1 906 -165 -805 68 677 573.9 630.1 630.2
Net Debt 1 3,733 4,418 4,145 4,228 3,550 3,870 3,924 4,114
Reference price 2 1.975 2.260 1.870 2.200 1.720 1.755 1.755 1.755
Nbr of stocks (in thousands) 3,943,069 3,945,860 3,945,860 3,945,860 3,945,860 3,945,860 - -
Announcement Date 8/10/22 A 8/15/23 A 8/7/24 A 8/14/25 A 8/18/26 A - - -
1AUD in Million2AUD
Estimates

P/E, Detailed evolution



P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
12.04x11x12.61x5.75% 4.97B
22.95x13.28x15.56x5.42% 15.75B
7.88x13.4x17.3x6.67% 6.32B
21.87x13.88x15.57x4.41% 6.23B
11.47x14.06x14.99x5.57% 6.03B
9.44x16.35x19.7x8.5% 5.67B
9.54x14.33x15.31x7.24% 5.64B
8.08x13.51x17.34x6.16% 5.53B
19.32x10.13x12.87x6.25% 4.53B
Average 13.62x 13.33x 15.69x 6.22% 6.74B
Weighted average by Cap. 15.10x 13.41x 15.77x 6.07%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA



Year-on-year evolution of the Yield

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