Mirvac Group (MGR) fair value: what the stock is really worth
As of Nov 6, 2026: fair value (intrinsic value) of Mirvac Group stock A$2.09, price A$1.96, upside +6.6%, quality 74 out of 100. Rating: fairly valued. Calculated from audited financials with 16 of our 26 valuation models and 37 quality factors, updated daily.
69 individual criteria per stock, every one traceableSee the method →
Price vs Fair Value
White line = price, green steps = our fair value per fiscal year. As of Nov 2, 2026.
How to read this chart
60‑month range A$1.54 – A$2.50 · fair‑value band A$1.34 – A$2.68 · the A$1.96 price screens below the A$2.09 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 2, 2026.
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Mirvac Group is an Australian Securities Exchange listed company, with an integrated asset creation and curation capability.
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They own and manage assets across office, retail, industrial and the living sectors in their investment portfolio, with approximately 22 billion dollars of assets under management.
Its development activities span commercial and mixed-use and residential, with a development pipeline of approximately 29 billion dollars. The firm focus on delivering high-quality, innovative and sustainable real estate for our customers, while driving long-term value for their securityholders.
Mirvac Group was founded in 1972 and incorporated in Australia.
Stock analysis
Mirvac Group (MGR) currently trades at A$1.96, while our model-based Fair Value estimate is A$2.09, so the stock looks roughly fairly valued today (gap 6.2%).
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Valuation
Bull case: the Growth DCF group reads highest at a median of A$2.37 per share, and 8 of the 16 models we run sit above the A$1.96 price.
Bear case: the Dividend Discount group reads lowest at A$1.14, and 8 of the 16 models stay below the price. Data coverage for this calculation is high.
Scenario range: A$1.34 (bear) to A$2.68 (bull), the price of A$1.96 sits inside it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 74/100 (solid quality), in the Real Estate sector.
Mixed Growth: Revenue is growing, but margins or cash flow do not fully confirm the trend.
Mirvac Group reported revenue of A$2.6B in FY2026 versus A$2.2B in FY2022, a compound +3.9%/yr. Reported net income was A$677M in FY2026, compounding −7.0%/yr from FY2022.
Key figures
Market cap A$7.7B (≈ $5.3B) Mid · P/E ratio 11.5 · P/S ratio 2.60 · EPS (TTM) A$0.1700 · Dividend yield 4.8% · Net margin 22.8% · Return on equity 7.4% · Return on assets (EBIT) 2.8% (5-year average).
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 63 out of 100 (low confidence).
What moves the price
The share trades about 12% below its 52-week high and 24% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Real Estate peers we cover trades at −29% fair-value upside, at 7%, MGR screens cheaper than that median.
Fair Value models
BearA$1.34Fair Value A$2.09BullA$2.68
Price A$1.96 · Upside +6.6%
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above starts from their evidence-weighted blend, not from a single model. In cyclical trough or peak years, after dilution or a stock split it is adjusted afterwards, so it can sit above or below the models. Based on fiscal year 2026 figures (about 4 months old). Earnings retained since then (A$0.0269 per share) are deliberately not added.Bear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds.Coverage ⓘCoverage = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card.77/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Revenue growth 1 year
+7.2%
Revenue growth 3 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+13.3%
Revenue growth 5 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+6.4%
Start year 2021 (pandemic). Over 10 years: +1.4% a year
Revenue growth 18 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+2.4%
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What shareholders gained per year (last 5 years) ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 5 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate.
−0.8%
Earnings growth per share plus dividend.
Earnings per share, growth per year−5.6%
Dividend (yield on the price)4.8%
Per share before 2008divided by the spin-off factor 1.0261
Pace: 5 vs 10 years ⓘTwo data points, not a trend model: earnings growth per share over the last 5 fiscal years against the last 10. Labelled "steady" when both rates are within 3 percentage points of each other, otherwise picking up or flattening. Shown only when ten years of history exist.−5.6% vs −4.7%, steady
Profit margin 2021 to 2026 ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.35% → 20%
Pace: the 5-year rate starts in 2021 (pandemic)
Growth Forecast
Little optimism in the price
The price assumes less growth than the company has delivered so far.
What the price assumes ⓘThis turns our valuation around: instead of asking what the share is worth, it asks what growth the current price requires. It uses the cash the company keeps after all spending (free cash flow), the same discount rate as our models, five years of growth, then slowing evenly to 2 % a year by year ten. Compared with the analysts' sales forecasts extended to the same five years (at least three analysts, for context only, it does not enter the Fair Value): within 3 percentage points counts as "in line" (amber), below that little optimism (green), above that a lot of optimism (red).
+0.5%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect
n/a
No analyst forecast available.
After inflation (Australia: IMF forecast 3.0% a year to 2030, 2.9% from 2016 to 2025) that is about −2.4% a year for the price.
AI conclusion: The capital-light funds platform offers a path to steadier returns while persistently low ROE and ROA signal a limited competitive moat in the REIT structure.
Main risk: Dependence on specific property locations in the REIT model could reduce yields if tenant demand or rental conditions weaken in key office and residential assets.
Mirvac's wholesale office fund has just taken a half-stake in a prominent Sydney CBD tower. Residential margins recovered sharply last year while the group runs an on-market buyback and keeps gearing low. Will the capital-light funds platform ultimately add more durable value than further development activity or direct capital returns?
Price, fair value, quality and upside side by side.
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Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.REIT - Diversified · 138 stocks
Beats the industry median on 9/15 measures
Overall it ranks above its industry peers.
Valuation
Quality Score74 · Top 25%
Fair Value upside+6.6% · Above median
Profitability
Return on equity (12 months)7.4% · Above median
Return on assets4.5% · Above median
Net margin (12 months)22.8% · Below median
Operating margin (12 months)28.8% · Below median
Growth and dividend
Revenue growth (quarter YoY)2.7% · Below median
Dividend yield (12 months)4.8% · Below median
Balance sheet
Debt / equity0.34× · Below median
Valuation Multiplesvs REIT - Diversified median · lower = cheaper
P/E (12 months)11.5× · Pricier than median
P/B0.83× · Pricier than median
P/S (12 months)2.60× · Cheapest 25%
Price / free cash flow (fiscal year)8.9× · Cheaper than median
For bloggers, editors and developers: paste this into your site or blog (a “Custom HTML” block in WordPress), it shows the current fair value and links back here. Free, plain HTML, and welcome. Full data streams (CSV/JSON) at /developers.
Cite: Fair Value Calculator (2026). "Mirvac Group Fair Value". https://www.fairvalue-calculator.com/stock/MGR
Frequently asked questions
Is Mirvac Group (MGR) overvalued or undervalued?
As of Nov 2, 2026, our model estimates a fair value of A$2.09 versus a price of A$1.96, about +7% upside (fairly valued).
What is the fair value of MGR?
Our model-based fair value for Mirvac Group is A$2.09 (as of Nov 2, 2026), built from audited fundamentals. The current price: A$1.96.
What is the quality score of MGR?
Mirvac Group has a Quality Score of 74/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for Mirvac Group (MGR)?
Our model-based price target is the fair value of A$2.09 (as of Nov 2, 2026) from 16 valuation models. Cautious scenario A$1.34, optimistic scenario A$2.68. It is a calculation from audited fundamentals, not an analyst target.
What is the Mirvac Group stock forecast for 2026?
Our models put fair value at A$2.09, about +7% upside versus a price of A$1.96 (fairly valued). Cautious scenario A$1.34, optimistic scenario A$2.68. The calculation is refreshed regularly with new filings.
What is the revenue of Mirvac Group (MGR)?
Mirvac Group reported trailing-twelve-month revenue of about A$3.0B (latest available figure, as of Nov 2, 2026).
Does Mirvac Group pay a dividend?
Mirvac Group currently shows a dividend yield of 4.85% relative to its recent price (as of Nov 2, 2026).
How much is the dividend of Mirvac Group (MGR) and when is the ex-dividend date?
Mirvac Group pays a dividend of A$0.095 per share a year, a dividend yield of 4.8%. The last ex-dividend date was Jun 29, 2026. A dividend has been paid every year since at least 1999. The payout ratio is 55.9% of earnings. Free cash flow covers the dividend 2.36 times. Our assessment: Well covered. A low payout and the dividend is fully funded by free cash flow, a comfortable, sustainable dividend.
What growth is priced into Mirvac Group (MGR)?
For today's price to be fair in a discounted-cash-flow model, Mirvac Group would have to grow free cash flow by +0.5 % per year for five years (discount rate 9.2 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +6.4 % per year. As of Nov 2, 2026.
What discount rate (WACC) does the fair value of MGR use?
Our models discount Mirvac Group at 9.2 %: a base by market capitalisation (mid), damped by beta 0.89, country premium for Australia. The same rate applies in all 26 models.
What is a reverse DCF?
A reverse DCF turns the usual calculation around. Instead of deriving a value from assumptions, it takes today's price as given and asks: what free-cash-flow growth would a company have to deliver for exactly this price to be fair? The result is not a forecast but the expectation already priced in. For Mirvac Group that is +0.5 % per year for five years, then slowing evenly to 2 % by year ten, using the same discount rate (9.2 %) and the same formula as our fair value.
How much growth has Mirvac Group (MGR) delivered so far?
Over the past 5 years revenue at Mirvac Group grew +6.4 % a year. The price currently implies free-cash-flow growth of +0.5 % per year. Comparing the two shows how much confidence is in the price: if it demands more than has been delivered, the business has to accelerate for the maths to work.
How fast is the sector of Mirvac Group (MGR) growing?
The median revenue growth in the sector is +2.7 % a year. That is the yardstick for the growth priced into Mirvac Group (+0.5 % per year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of Mirvac Group (MGR)?
The free-cash-flow yield on the price is 11.26 %: that much free cash flow Mirvac Group produces per unit of market value. When it exceeds the discount rate of our models (9.2 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Mirvac Group (MGR)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Mirvac Group it is A$2.09 per share (as of Nov 2, 2026), against a price of A$1.96. It is the blended result of 16 valuation models in 6 families (DCF Models, Dividend Discount, Multiples, Asset-Based, Growth DCF, Economic Profit).
Is Mirvac Group stock overvalued or undervalued in 2026?
As of Nov 2, 2026, MGR trades below its calculated fair value: price A$1.96, fair value A$2.09, a gap of about +7% (fairly valued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of MGR?
No. The price is what the market pays today (A$1.96); the fair value is what the company's own numbers justify (A$2.09). For Mirvac Group the two are A$0.1300 per share apart. That gap is exactly why we show both numbers side by side.
How much is Mirvac Group worth?
The market values Mirvac Group at about A$7.7B (market capitalisation, as of Nov 2, 2026). Per share that is A$1.96; our models calculate a fair value of A$2.09 per share.
What do the bullish and bearish scenarios say about MGR?
Our models span a range for Mirvac Group: cautious scenario A$1.34, base A$2.09, optimistic A$2.68 per share (as of Nov 2, 2026, price A$1.96). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of MGR?
Mirvac Group trades at a price-to-earnings ratio of 11.5 (as of Nov 2, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of A$2.09 is built from several models across several years. Median P/E at fiscal year-end, 8 fiscal years (2017 to 2026), reported earnings: 10.7. Other multiples: PEG 1.7, P/B 0.8, P/S 2.6, EV/EBITDA 12.2.
What is the PEG ratio of MGR?
The PEG ratio of Mirvac Group is 1.74 (P/E divided by earnings growth, as of Nov 2, 2026). That is above 1, so the growth is already paid for in the price.
How solid is the balance sheet of Mirvac Group (MGR)?
Balance-sheet figures for Mirvac Group (as of Nov 2, 2026): return on equity 7.4%, debt of 0.34 per unit of equity. They feed the Quality Score of 74/100, which measures business quality independently of the share price.
How far is MGR from its 52-week high?
Mirvac Group trades at A$1.96, about 12% below its 52-week high of A$2.22 and 24% above the low of A$1.58 (as of Nov 6, 2026). Distance from the high says nothing about value: that is what the fair value of A$2.09 is for.
Which stocks are comparable to Mirvac Group?
From the same area (Real Estate) we also value Goodman Group, VICI Properties Inc, W. P. Carey Inc, Charter Hall Group, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is Mirvac Group stock attractive at the current price?
The data as of Nov 2, 2026: price A$1.96, calculated fair value A$2.09 (+7%), Quality Score 74/100, from 16 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of MGR calculated?
We run Mirvac Group through 16 models from 6 families: DCF Models, Dividend Discount, Multiples, Asset-Based, Growth DCF, Economic Profit. Every model gets the same audited fundamentals; the fair value of A$2.09 builds on their evidence-weighted average, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 13.0% above its aggregate fair value. Mirvac Group currently trades 6% below its own fair value, and the market average says nothing about that. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of Mirvac Group (MGR)?
The closing price on Nov 6, 2026 was A$1.96. Our model-based fair value is A$2.09, about +7% upside (fairly valued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Mirvac Group right now?
The price sits close to our fair value, market and models broadly agree here, little valuation tension. A fairly wide model range (A$1.34 to A$2.68) leaves room in how you read the outcome. As a real-estate business, asset- and dividend-based methods carry more weight here than a standard DCF.
Where does the earnings growth of Mirvac Group (MGR) come from?
Earnings per share at Mirvac Group grew −9.8 % a year from 2015 to 2026. Broken into its drivers: revenue per share +1.2 %, EBIT margin −6.3 %, tax rate −0.2 %, residual (interest, one-offs) −4.7 %. The four rates multiply to the earnings growth rate, they do not add up. Start and end are three-year averages so a single exceptional year does not distort the result.
Key figures of Mirvac Group
How large is the market capitalisation of Mirvac Group (MGR)?
The market capitalisation of Mirvac Group is A$7.7B (≈ $5.3B). The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of Mirvac Group (MGR)?
The price-to-sales ratio of Mirvac Group is 2.60 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Mirvac Group (MGR)?
Earnings per share at Mirvac Group are A$0.1700 (price ÷ EPS = P/E 11.5). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Mirvac Group (MGR)?
The dividend yield of Mirvac Group is 4.8% (payout 55.9%). Yearly dividend relative to the share price. 3% pays 3 per 100 invested. Below: how much of profit is used for it.
What is the net margin of Mirvac Group (MGR)?
The net margin of Mirvac Group is 22.8% (last twelve months). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of Mirvac Group (MGR)?
The return on equity (ROE) of Mirvac Group is 7.4% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of Mirvac Group (MGR)?
On an EBIT basis the return on assets of Mirvac Group is 2.8% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of Mirvac Group (MGR)?
The operating margin of Mirvac Group is 28.8% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Mirvac Group (MGR)?
Revenue at Mirvac Group is growing +2.7% versus a year earlier (3y avg +13.3%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at Mirvac Group (MGR)?
Earnings per share at Mirvac Group are growing +442% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does Mirvac Group (MGR) carry?
The net debt of Mirvac Group is A$3.6B (fiscal year 2026, ≈ 4.1 yrs of FCF). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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Broad data
Nov 2, 2026