Mirvac Group has a Cash Ratio of 0.18. It indicates that there are more current liabilities than Cash, Cash Equivalents, Marketable Securities, and the company does not have sufficient cash on hand to pay off its short-term debt.
The historical rank and industry rank for Mirvac Group's Cash Ratio or its related term are showing as below:
ASX:MGR'
s Cash Ratio Range Over the Past 10 Years
Min: 0.05 Med: 0.13 Max: 0.43
Current: 0.18
During the past 13 years, Mirvac Group's highest Cash Ratio was 0.43. The lowest was 0.05. And the median was 0.13.
ASX:MGR's Cash Ratio is ranked worse than 65.77% of 707
companies
in the REITs industry
Industry Median: 0.42
vs ASX:MGR: 0.18
Mirvac Group Cash Ratio Historical Data
The historical data trend for Mirvac Group's Cash Ratio can be seen below:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
Competitive Comparison of Mirvac Group's Cash Ratio
For the REIT - Diversified subindustry, Mirvac Group's Cash Ratio, along with its competitors' market caps and Cash Ratio data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
Mirvac Group's Cash Ratio Distribution in the REITs Industry
For the REITs industry and Real Estate sector, Mirvac Group's Cash Ratio distribution charts can be found below:
* The bar in red indicates where Mirvac Group's Cash Ratio falls into.
Mirvac Group Cash Ratio Calculation
The Cash Ratio measures a company's ability to meet its short-term obligations with its cash and near-cash resources.
Mirvac Group's Cash Ratio for the fiscal year that ended in Jun. 2023 is calculated as:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
Mirvac Group (ASX:MGR) Cash Ratio Explanation
The cash ratio is more conservative than other liquidity ratios, such as Quick Ratio and Current Ratio, because it only considers a company's most liquid resources. The numerator of cash ratio only considers Cash, Cash Equivalents and marketable securities. Other current assets, such as accounts receivable and inventories, are not included. The rationale is that these assets may require time to be transformed into cash, and the amount of money received is also uncertain.
The cash ratio shows a company’s ability to pay all current liabilities immediately without selling or liquidating other assets. Generally speaking, a higher cash ratio suggests the company has a stronger ability to cover its short-term debt. However, a high cash ratio could also indicate inefficient management: the company is inefficient in making full utilization of cash to invest protential profitable project. It may also suggest that the company is not confident about future profitability.
In general, the higher the cash ratio, the better the company's liquidity position.
Mirvac Group Cash Ratio Related Terms
Thank you for viewing the detailed overview of Mirvac Group's Cash Ratio provided by GuruFocus.com. Please click on the following links to see related term pages.
Mirvac is one of Australia's largest residential developers, particularly apartments. Residential development earnings are volatile, generating about a fifth of EBIT in fiscal 2023, despite accounting for only about 15% of the group's invested capital. Over our 10-year discrete forecast period we don't expect residential development to exceed the lofty peaks seen in 2017, when Mirvac settled 3,400 residential lots, however, we expect modest growth over time as Mirvac gains market share and constructs housing into an under-supplied market. About 80% of Mirvac's earnings come from a predictable commercial property portfolio, more than half of which is high-grade office and another fourth in retail, a small industrial portfolio, and a small but growing build-to-rent residential portfolio.
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