Mirvac Group (ASX:MGR) Interest Expense : A$-177 Mil (TTM As of Dec. 2023)

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What is Mirvac Group Interest Expense?

Interest Expense is the amount reported by a company or individual as an expense for borrowed money. Mirvac Group's interest expense for the six months ended in Dec. 2023 was A$ -93 Mil. Its interest expense for the trailing twelve months (TTM) ended in Dec. 2023 was A$-177 Mil.

Interest Coverage is a ratio that determines how easily a company can pay interest expenses on outstanding debt. It is calculated by dividing a company's Operating Income(EBIT) by its Interest Expense. Mirvac Group's Operating Income for the six months ended in Dec. 2023 was A$ 246 Mil. Mirvac Group's Interest Expense for the six months ended in Dec. 2023 was A$ -93 Mil. Mirvac Group's Interest Coverage for the quarter that ended in Dec. 2023 was 2.65. The higher the ratio, the stronger the company's financial strength is. Note: If both Interest Expense and Interest Income are empty, while Net Interest Income is negative, then use Net Interest Income as Interest Expense.

Mirvac Group Interest Expense Historical Data

The historical data trend for Mirvac Group's Interest Expense 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 Interest Expense Chart

Mirvac Group Annual Data

Trend

Jun14

Jun15

Jun16

Jun17

Jun18

Jun19

Jun20

Jun21

Jun22

Jun23

Interest Expense

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-126.00

-116.00

-109.00

-93.00

-150.00

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
Interest Expense	Get a 7-Day Free Trial															-48.00	-45.00	-66.00	-84.00	-93.00

Mirvac Group Interest Expense Calculation

Interest Expense is the amount reported by a company or individual as an expense for borrowed money.

Interest Expense for the trailing twelve months (TTM) ended in Dec. 2023 adds up the semi-annually data reported by the company within the most recent 12 months, which was A$-177 Mil.

Mirvac Group (ASX:MGR) Interest Expense Explanation

Note: If both Interest Expense and Interest Income are empty, while Net Interest Income is negative, then use Net Interest Income as Interest Expense.

Mirvac Group's Interest Expense for the six months ended in Dec. 2023 was A$-93 Mil. Its Operating Income for the six months ended in Dec. 2023 was A$246 Mil. And its Long-Term Debt & Capital Lease Obligation for the six months ended in Dec. 2023 was A$4,548 Mil.

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

Interest Coverage	=	-1	*	Operating Income (Q: Dec. 2023 )	/	Interest Expense (Q: Dec. 2023 )
	=	-1	*	246	/	-93
	=	2.65

The higher the ratio, the stronger the company's financial strength is.

Mirvac Group (ASX:MGR) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Real Estate » REITs » Mirvac Group (ASX:MGR) » Definitions » Interest Expense

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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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