MERLIN PROPERTIES SOCIMI SA (MRL.LS) Fundamental Analysis & Valuation

ELI:MRL • ES0105025003

Current stock price

14.24 EUR
+0.24 (+1.71%)
Last:

This MRL.LS fundamental analysis includes valuation metrics, fair value assessment, financial health analysis, profitability trends, growth metrics and dividend sustainability analysis.

6

1. MRL.LS Profitability Analysis

1.1 Basic Checks

  • MRL had positive earnings in the past year.
  • In the past year MRL had a positive cash flow from operations.
  • Of the past 5 years MRL 4 years were profitable.
  • Each year in the past 5 years MRL had a positive operating cash flow.
MRL.LS Yearly Net Income VS EBIT VS OCF VS FCFMRL.LS Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0 200M 400M 600M 800M 1B

1.2 Ratios

  • Looking at the Return On Assets, with a value of 5.33%, MRL belongs to the top of the industry, outperforming 85.71% of the companies in the same industry.
  • With an excellent Return On Equity value of 9.41%, MRL belongs to the best of the industry, outperforming 85.71% of the companies in the same industry.
  • MRL has a Return On Invested Capital of 2.23%. This is in the lower half of the industry: MRL underperforms 78.57% of its industry peers.
  • The Average Return On Invested Capital over the past 3 years for MRL is in line with the industry average of 3.84%.
Industry RankSector Rank
ROA 5.33%
ROE 9.41%
ROIC 2.23%
ROA(3y)2.31%
ROA(5y)2.54%
ROE(3y)4.08%
ROE(5y)4.67%
ROIC(3y)2.35%
ROIC(5y)2.3%
MRL.LS Yearly ROA, ROE, ROICMRL.LS Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0 5 10 15

1.3 Margins

  • With an excellent Profit Margin value of 140.92%, MRL belongs to the best of the industry, outperforming 100.00% of the companies in the same industry.
  • In the last couple of years the Profit Margin of MRL has grown nicely.
  • MRL's Operating Margin of 68.53% is in line compared to the rest of the industry. MRL outperforms 54.76% of its industry peers.
  • In the last couple of years the Operating Margin of MRL has remained more or less at the same level.
Industry RankSector Rank
OM 68.53%
PM (TTM) 140.92%
GM N/A
OM growth 3Y-0.47%
OM growth 5Y-0.97%
PM growth 3Y34.52%
PM growth 5Y63.11%
GM growth 3YN/A
GM growth 5YN/A
MRL.LS Yearly Profit, Operating, Gross MarginsMRL.LS Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0 50 100 150 200

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5

2. MRL.LS Health Analysis

2.1 Basic Checks

  • The Return on Invested Capital (ROIC) is below the Cost of Capital (WACC), so MRL is destroying value.
  • The number of shares outstanding for MRL remains at a similar level compared to 1 year ago.
  • MRL has more shares outstanding than it did 5 years ago.
  • Compared to 1 year ago, MRL has an improved debt to assets ratio.
MRL.LS Yearly Shares OutstandingMRL.LS Yearly Shares OutstandingYearly Shares Outstanding 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 100M 200M 300M 400M 500M
MRL.LS Yearly Total Debt VS Total AssetsMRL.LS Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 5B 10B

2.2 Solvency

  • MRL has an Altman-Z score of 1.25. This is a bad value and indicates that MRL is not financially healthy and even has some risk of bankruptcy.
  • The Altman-Z score of MRL (1.25) is better than 83.33% of its industry peers.
  • The Debt to FCF ratio of MRL is 12.28, which is on the high side as it means it would take MRL, 12.28 years of fcf income to pay off all of its debts.
  • MRL has a Debt to FCF ratio of 12.28. This is in the better half of the industry: MRL outperforms 61.90% of its industry peers.
  • A Debt/Equity ratio of 0.51 indicates that MRL is somewhat dependend on debt financing.
  • The Debt to Equity ratio of MRL (0.51) is better than 78.57% of its industry peers.
Industry RankSector Rank
Debt/Equity 0.51
Debt/FCF 12.28
Altman-Z 1.25
ROIC/WACC0.39
WACC5.67%
MRL.LS Yearly LT Debt VS Equity VS FCFMRL.LS Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0 2B 4B 6B 8B

2.3 Liquidity

  • A Current Ratio of 1.18 indicates that MRL should not have too much problems paying its short term obligations.
  • MRL's Current ratio of 1.18 is amongst the best of the industry. MRL outperforms 88.10% of its industry peers.
  • A Quick Ratio of 1.13 indicates that MRL should not have too much problems paying its short term obligations.
  • MRL has a better Quick ratio (1.13) than 83.33% of its industry peers.
Industry RankSector Rank
Current Ratio 1.18
Quick Ratio 1.13
MRL.LS Yearly Current Assets VS Current LiabilitesMRL.LS Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 500M 1B 1.5B

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5

3. MRL.LS Growth Analysis

3.1 Past

  • MRL shows a strong growth in Earnings Per Share. In the last year, the EPS has been growing by 41.07%, which is quite impressive.
  • The earnings per share for MRL have been decreasing by -14.43% on average. This is quite bad
  • The Revenue has grown by 9.05% in the past year. This is quite good.
  • The Revenue has been decreasing by -0.80% on average over the past years.
EPS 1Y (TTM)41.07%
EPS 3Y-19.91%
EPS 5Y-14.43%
EPS Q2Q%143.75%
Revenue 1Y (TTM)9.05%
Revenue growth 3Y1.84%
Revenue growth 5Y-0.8%
Sales Q2Q%29.54%

3.2 Future

  • The Earnings Per Share is expected to grow by 9.07% on average over the next years. This is quite good.
  • The Revenue is expected to grow by 15.35% on average over the next years. This is quite good.
EPS Next Y15.01%
EPS Next 2Y13.12%
EPS Next 3Y7.36%
EPS Next 5Y9.07%
Revenue Next Year11.03%
Revenue Next 2Y10.28%
Revenue Next 3Y11.63%
Revenue Next 5Y15.35%

3.3 Evolution

  • The EPS growth rate is accelerating: in the next years the growth will be better than in the last years.
  • When comparing the Revenue growth rate of the last years to the growth rate of the upcoming years, we see that the growth is accelerating.
MRL.LS Yearly Revenue VS EstimatesMRL.LS Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 200M 400M 600M 800M 1B
MRL.LS Yearly EPS VS EstimatesMRL.LS Yearly EPS VS EstimatesYearly EPS VS Estimates 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 0.5 1 1.5

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2

4. MRL.LS Valuation Analysis

4.1 Price/Earnings Ratio

  • Based on the Price/Earnings ratio of 18.03, the valuation of MRL can be described as rather expensive.
  • Based on the Price/Earnings ratio, MRL is valued a bit more expensive than the industry average as 61.90% of the companies are valued more cheaply.
  • The average S&P500 Price/Earnings ratio is at 26.21. MRL is valued slightly cheaper when compared to this.
  • Based on the Price/Forward Earnings ratio of 19.87, the valuation of MRL can be described as rather expensive.
  • Based on the Price/Forward Earnings ratio, MRL is valued more expensive than 80.95% of the companies in the same industry.
  • The average S&P500 Price/Forward Earnings ratio is at 23.13. MRL is around the same levels.
Industry RankSector Rank
PE 18.03
Fwd PE 19.87
MRL.LS Price Earnings VS Forward Price EarningsMRL.LS Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 5 10 15 20 25

4.2 Price Multiples

  • Based on the Enterprise Value to EBITDA ratio, MRL is valued a bit more expensive than the industry average as 61.90% of the companies are valued more cheaply.
  • Compared to the rest of the industry, the Price/Free Cash Flow ratio of MRL indicates a slightly more expensive valuation: MRL is more expensive than 64.29% of the companies listed in the same industry.
Industry RankSector Rank
P/FCF 19.82
EV/EBITDA 31.42
MRL.LS Per share dataMRL.LS EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 5 10

4.3 Compensation for Growth

  • MRL's PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a correct valuation of the company.
  • MRL has a very decent profitability rating, which may justify a higher PE ratio.
PEG (NY)1.2
PEG (5Y)N/A
EPS Next 2Y13.12%
EPS Next 3Y7.36%

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5

5. MRL.LS Dividend Analysis

5.1 Amount

  • With a Yearly Dividend Yield of 2.56%, MRL has a reasonable but not impressive dividend return.
  • Compared to an average industry Dividend Yield of 5.32, MRL is paying slightly less dividend.
  • MRL's Dividend Yield is a higher than the S&P500 average which is at 1.89.
Industry RankSector Rank
Dividend Yield 2.56%

5.2 History

  • On average, the dividend of MRL grows each year by 8.36%, which is quite nice.
Dividend Growth(5Y)8.36%
Div Incr Years1
Div Non Decr Years1
MRL.LS Yearly Dividends per shareMRL.LS Yearly Dividends per shareYearly Dividends per share 2020 2021 2022 2023 2024 2025 0.2 0.4 0.6 0.8

5.3 Sustainability

  • 16.22% of the earnings are spent on dividend by MRL. This is a low number and sustainable payout ratio.
  • The dividend of MRL is growing around the same rate as the earnings are growing. If this keeps up the dividend growth is sustainable.
DP16.22%
EPS Next 2Y13.12%
EPS Next 3Y7.36%
MRL.LS Yearly Income VS Free CF VS DividendMRL.LS Yearly Income VS Free CF VS DividendYearly Income VS Free CF VS Dividend 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0 200M 400M 600M 800M 1B
MRL.LS Dividend Payout.MRL.LS Dividend Payout, showing the Payout Ratio.MRL.LS Dividend Payout.PayoutRetained Earnings

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MRL.LS Fundamentals: All Metrics, Ratios and Statistics

MERLIN PROPERTIES SOCIMI SA

ELI:MRL (4/1/2026, 7:00:00 PM)

14.24

+0.24 (+1.71%)

Chartmill FA Rating
GICS SectorReal Estate
GICS IndustryGroupEquity Real Estate Investment Trusts (REITs)
GICS IndustryDiversified REITs
Earnings (Last)02-26
Earnings (Next)05-14
Inst Owners36.99%
Inst Owner ChangeN/A
Ins Owners0.28%
Ins Owner ChangeN/A
Market Cap8.03B
Revenue(TTM)539.41M
Net Income(TTM)760.16M
Analysts85
Price Target15.41 (8.22%)
Short Float %N/A
Short RatioN/A
Dividend
Industry RankSector Rank
Dividend Yield 2.56%
Yearly Dividend0.44
Dividend Growth(5Y)8.36%
DP16.22%
Div Incr Years1
Div Non Decr Years1
Ex-DateN/A
Surprises & Revisions
EPS beat(2)1
Avg EPS beat(2)103.32%
Min EPS beat(2)-15.13%
Max EPS beat(2)221.78%
EPS beat(4)2
Avg EPS beat(4)51.17%
Min EPS beat(4)-15.13%
Max EPS beat(4)221.78%
EPS beat(8)3
Avg EPS beat(8)25.35%
EPS beat(12)4
Avg EPS beat(12)17.63%
EPS beat(16)8
Avg EPS beat(16)65.46%
Revenue beat(2)2
Avg Revenue beat(2)6.61%
Min Revenue beat(2)4.17%
Max Revenue beat(2)9.04%
Revenue beat(4)4
Avg Revenue beat(4)7%
Min Revenue beat(4)0.4%
Max Revenue beat(4)14.37%
Revenue beat(8)7
Avg Revenue beat(8)2.74%
Revenue beat(12)10
Avg Revenue beat(12)1.69%
Revenue beat(16)11
Avg Revenue beat(16)0.49%
PT rev (1m)0%
PT rev (3m)-0.33%
EPS NQ rev (1m)0%
EPS NQ rev (3m)0%
EPS NY rev (1m)0%
EPS NY rev (3m)24.7%
Revenue NQ rev (1m)4.91%
Revenue NQ rev (3m)4.91%
Revenue NY rev (1m)1.91%
Revenue NY rev (3m)2.72%
Valuation
Industry RankSector Rank
PE 18.03
Fwd PE 19.87
P/S 14.88
P/FCF 19.82
P/OCF 19.32
P/B 0.99
P/tB 0.99
EV/EBITDA 31.42
EPS(TTM)0.79
EY5.55%
EPS(NY)0.72
Fwd EY5.03%
FCF(TTM)0.72
FCFY5.05%
OCF(TTM)0.74
OCFY5.18%
SpS0.96
BVpS14.32
TBVpS14.32
PEG (NY)1.2
PEG (5Y)N/A
Graham Number15.96
Profitability
Industry RankSector Rank
ROA 5.33%
ROE 9.41%
ROCE 2.82%
ROIC 2.23%
ROICexc 2.46%
ROICexgc 2.46%
OM 68.53%
PM (TTM) 140.92%
GM N/A
FCFM 75.09%
ROA(3y)2.31%
ROA(5y)2.54%
ROE(3y)4.08%
ROE(5y)4.67%
ROIC(3y)2.35%
ROIC(5y)2.3%
ROICexc(3y)2.58%
ROICexc(5y)2.48%
ROICexgc(3y)2.58%
ROICexgc(5y)2.48%
ROCE(3y)2.98%
ROCE(5y)2.91%
ROICexgc growth 3Y2.85%
ROICexgc growth 5Y4.68%
ROICexc growth 3Y2.85%
ROICexc growth 5Y4.68%
OM growth 3Y-0.47%
OM growth 5Y-0.97%
PM growth 3Y34.52%
PM growth 5Y63.11%
GM growth 3YN/A
GM growth 5YN/A
F-Score7
Asset Turnover0.04
Health
Industry RankSector Rank
Debt/Equity 0.51
Debt/FCF 12.28
Debt/EBITDA 10.96
Cap/Depr 209.89%
Cap/Sales 1.96%
Interest Coverage 2.9
Cash Conversion 110.92%
Profit Quality 53.28%
Current Ratio 1.18
Quick Ratio 1.13
Altman-Z 1.25
F-Score7
WACC5.67%
ROIC/WACC0.39
Cap/Depr(3y)251.48%
Cap/Depr(5y)208.63%
Cap/Sales(3y)2.11%
Cap/Sales(5y)1.5%
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)41.07%
EPS 3Y-19.91%
EPS 5Y-14.43%
EPS Q2Q%143.75%
EPS Next Y15.01%
EPS Next 2Y13.12%
EPS Next 3Y7.36%
EPS Next 5Y9.07%
Revenue 1Y (TTM)9.05%
Revenue growth 3Y1.84%
Revenue growth 5Y-0.8%
Sales Q2Q%29.54%
Revenue Next Year11.03%
Revenue Next 2Y10.28%
Revenue Next 3Y11.63%
Revenue Next 5Y15.35%
EBIT growth 1Y1.49%
EBIT growth 3Y6.58%
EBIT growth 5Y2.85%
EBIT Next Year-19.1%
EBIT Next 3Y3.2%
EBIT Next 5Y7.79%
FCF growth 1Y36.23%
FCF growth 3Y22.48%
FCF growth 5Y25.12%
OCF growth 1Y31.19%
OCF growth 3Y23.22%
OCF growth 5Y25.28%

MERLIN PROPERTIES SOCIMI SA / MRL.LS Fundamental Analysis FAQ

What is the ChartMill fundamental rating of MERLIN PROPERTIES SOCIMI SA (MRL.LS) stock?

ChartMill assigns a fundamental rating of 5 / 10 to MRL.LS.


What is the valuation status of MERLIN PROPERTIES SOCIMI SA (MRL.LS) stock?

ChartMill assigns a valuation rating of 2 / 10 to MERLIN PROPERTIES SOCIMI SA (MRL.LS). This can be considered as Overvalued.


How profitable is MERLIN PROPERTIES SOCIMI SA (MRL.LS) stock?

MERLIN PROPERTIES SOCIMI SA (MRL.LS) has a profitability rating of 6 / 10.


Can you provide the PE and PB ratios for MRL stock?

The Price/Earnings (PE) ratio for MERLIN PROPERTIES SOCIMI SA (MRL.LS) is 18.03 and the Price/Book (PB) ratio is 0.99.


What is the expected EPS growth for MERLIN PROPERTIES SOCIMI SA (MRL.LS) stock?

The Earnings per Share (EPS) of MERLIN PROPERTIES SOCIMI SA (MRL.LS) is expected to grow by 15.01% in the next year.