Mirvac Group (ASX:MGR) Is Up 7.9% After EPS Jumps To A$0.172 – Has The Bull Case Changed?

• Mirvac Group has reported its full-year results for the period ended June 30, 2026, with sales of A$2,626 million, revenue of A$3,075 million, and net income of A$677 million, all higher than the previous year.
• A particularly striking feature of the result is that basic and diluted earnings per share from continuing operations rose to A$0.172, up from A$0.017 a year earlier, pointing to a very large improvement in profitability.
• With this sharp uplift in earnings per share now on the table, we’ll examine how it reshapes Mirvac Group’s existing investment narrative.

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Mirvac Group Investment Narrative Recap

To own Mirvac Group, you need to believe in its ability to turn its development pipeline and asset recycling into consistent, higher quality earnings without overextending its balance sheet. The FY2026 result, with net income of A$677 million and EPS of A$0.172, materially improves recent earnings visibility, but execution risk on projects and exposure to market conditions for asset sales still look like the key short term catalyst and the biggest current risk.

Among recent announcements, the reaffirmation of FY2026 operating earnings guidance of 12.8 to 13.0 cents per stapled security in February 2026 sits most closely alongside these results, because it frames how management sees the sustainability of this improved profitability. Set against higher dividends, including the June 2026 interim distribution of A$0.0480 per share, this guidance will likely be watched closely by investors weighing earnings momentum against development and capital recycling risks.

Yet behind the strong headline profit rebound, investors should be aware of the ongoing risk that large project impairments or cost overruns could…

Read the full narrative on Mirvac Group (it’s free!)

Mirvac Group’s narrative projects A$1.1 billion revenue and A$640.2 million earnings by 2028.

Uncover how Mirvac Group’s forecasts yield a A$2.47 fair value, a 29% upside to its current price.

Exploring Other Perspectives

Four members of the Simply Wall St Community currently see Mirvac’s fair value between A$2.35 and about A$3.31, highlighting a wide spread of expectations. You should weigh these differing views against the recent earnings rebound and the continuing risk that project execution issues or construction cost pressures could affect how durable this improvement proves to be over time.

Explore 4 other fair value estimates on Mirvac Group – why the stock might be worth just A$2.35!

Reach Your Own Conclusion

Don’t just follow the ticker – dig into the data and build a conviction that’s truly your own.

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This article by Simply Wall St is general in nature. We provide commentary based on historical data
and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your
financial situation. We aim to bring you long-term focused analysis driven by fundamental data.
Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material.
Simply Wall St has no position in any stocks mentioned.

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