Mirvac Group (ASX:MGR) Gross Margin % : 32.21% (As of Dec. 2023)

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What is Mirvac Group Gross Margin %?

Gross Margin % is calculated as gross profit divided by its revenue. Mirvac Group's Gross Profit for the six months ended in Dec. 2023 was A$403 Mil. Mirvac Group's Revenue for the six months ended in Dec. 2023 was A$1,251 Mil. Therefore, Mirvac Group's Gross Margin % for the quarter that ended in Dec. 2023 was 32.21%.

The historical rank and industry rank for Mirvac Group's Gross Margin % or its related term are showing as below:

ASX:MGR' s Gross Margin % Range Over the Past 10 Years
Min: 33.32 Med: 41.39 Max: 44.32
Current: 33.32

During the past 13 years, the highest Gross Margin % of Mirvac Group was 44.32%. The lowest was 33.32%. And the median was 41.39%.

ASX:MGR's Gross Margin % is ranked worse than
93.22% of 634 companies
in the REITs industry
Industry Median: 68.745 vs ASX:MGR: 33.32

Mirvac Group had a gross margin of 32.21% for the quarter that ended in Dec. 2023 => Competition eroding margins

The 5-Year average Growth Rate of Gross Margin for Mirvac Group was -0.10% per year.

Mirvac Group Gross Margin % Historical Data

The historical data trend for Mirvac Group's Gross Margin % 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.

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Mirvac Group Gross Margin % Chart

Mirvac Group Annual Data

Trend

Jun14

Jun15

Jun16

Jun17

Jun18

Jun19

Jun20

Jun21

Jun22

Jun23

Gross Margin %

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42.00

40.78

43.98

38.26

44.32

Mirvac Group Semi-Annual Data
	Jun14	Dec14	Jun15	Dec15	Jun16	Dec16	Jun17	Dec17	Jun18	Dec18	Jun19	Dec19	Jun20	Dec20	Jun21	Dec21	Jun22	Dec22	Jun23	Dec23
Gross Margin %	Get a 7-Day Free Trial															38.13	38.42	57.18	34.66	32.21

Competitive Comparison of Mirvac Group's Gross Margin %

For the REIT - Diversified subindustry, Mirvac Group's Gross Margin %, along with its competitors' market caps and Gross Margin % 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 Gross Margin % Distribution in the REITs Industry

For the REITs industry and Real Estate sector, Mirvac Group's Gross Margin % distribution charts can be found below:

* The bar in red indicates where Mirvac Group's Gross Margin % falls into.

Mirvac Group Gross Margin % Calculation

Gross Margin is the percentage of Gross Profit out of sales or Revenue.

Mirvac Group's Gross Margin for the fiscal year that ended in Jun. 2023 is calculated as

Gross Margin % (A: Jun. 2023 )	=	Gross Profit (A: Jun. 2023 )	/	Revenue (A: Jun. 2023 )
	=	799	/	1803
	=	(Revenue - Cost of Goods Sold)	/	Revenue
	=	(1803 - 1004)	/	1803
	=	44.32 %

Mirvac Group's Gross Margin for the quarter that ended in Dec. 2023 is calculated as

Gross Margin % (Q: Dec. 2023 )	=	Gross Profit (Q: Dec. 2023 )	/	Revenue (Q: Dec. 2023 )
	=	403	/	1251
	=	(Revenue - Cost of Goods Sold)	/	Revenue
	=	(1251 - 848)	/	1251
	=	32.21 %

A positive Gross Profit is only the first step for a company to make a net profit. The gross profit needs to be big enough to also cover related labor, equipment, rental, marketing/advertising, research and development and a lot of other costs in selling the products.

Mirvac Group (ASX:MGR) Gross Margin % Explanation

Warren Buffett believes that firms with excellent long term economics tend to have consistently higher margins.

Durable competitive advantage creates a high Gross Margin % because of the freedom to price in excess of cost. Companies can be categorized by their Gross Margin %

1. Greater than 40% = Durable competitive advantage
2. Less than 40% = Competition eroding margins
3. Less than 20% = no sustainable competitive advantage
Consistency of Gross Margin is key

Mirvac Group had a gross margin of 32.21% for the quarter that ended in Dec. 2023 => Competition eroding margins

Be Aware

If a company loses its competitive advantages, usually its gross margin declines well before its sales declines. Watching Gross Margin % and Operating Margin % closely helps avoid value trap situations.

Mirvac Group Gross Margin % Related Terms

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Mirvac Group (ASX:MGR) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Real Estate » REITs » Mirvac Group (ASX:MGR) » Definitions » Gross Margin %

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Traded in Other Exchanges

MRVGF:USA MJB:Germany

Address

200 George Street, Level 28, Sydney, NSW, AUS, 2000

Website

https://www.mirvac.com

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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