MERLIN PROPERTIES SOCIMI SA (MRL.LS) Stock Fundamental Analysis
Europe - Euronext Lisbon - ELI:MRL - ES0105025003 - REIT
11.85 EUR
-0.63 (-5.05%)
Overall MRL gets a fundamental rating of 4 out of 10. We evaluated MRL against 41 industry peers in the Diversified REITs industry. Both the profitability and the financial health of MRL get a neutral evaluation. Nothing too spectacular is happening here. MRL is quite expensive at the moment. It does show a decent growth rate.
1. Profitability
1.1 Basic Checks
In the past year MRL was profitable.
In the past year MRL had a positive cash flow from operations.
Of the past 5 years MRL 4 years were profitable.
In the past 5 years MRL always reported a positive cash flow from operatings.
1.2 Ratios
With an excellent Return On Assets value of 4.96%, MRL belongs to the best of the industry, outperforming 85.37% of the companies in the same industry.
With a decent Return On Equity value of 8.42%, MRL is doing good in the industry, outperforming 78.05% of the companies in the same industry.
MRL has a worse Return On Invested Capital (2.51%) than 75.61% of its industry peers.
Measured over the past 3 years, the Average Return On Invested Capital for MRL is in line with the industry average of 3.63%.
The 3 year average ROIC (2.33%) for MRL is below the current ROIC(2.51%), indicating increased profibility in the last year.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 4.96% | ||
| ROE | 8.42% | ||
| ROIC | 2.51% |
ROA(3y)1.2%
ROA(5y)1.52%
ROE(3y)2.12%
ROE(5y)2.9%
ROIC(3y)2.33%
ROIC(5y)2.23%
1.3 Margins
MRL's Profit Margin of 129.33% is amongst the best of the industry. MRL outperforms 97.56% of its industry peers.
In the last couple of years the Profit Margin of MRL has declined.
MRL has a Operating Margin of 81.15%. This is amongst the best in the industry. MRL outperforms 80.49% 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 Rank | Sector Rank | ||
|---|---|---|---|
| OM | 81.15% | ||
| PM (TTM) | 129.33% | ||
| GM | N/A |
OM growth 3Y-1.01%
OM growth 5Y0.41%
PM growth 3Y-19.36%
PM growth 5Y-12.12%
GM growth 3YN/A
GM growth 5YN/A
2. Health
2.1 Basic Checks
With a Return on Invested Capital (ROIC) below the Cost of Capital (WACC), MRL is destroying value.
Compared to 1 year ago, MRL has more shares outstanding
The number of shares outstanding for MRL has been increased compared to 5 years ago.
The debt/assets ratio for MRL has been reduced compared to a year ago.
2.2 Solvency
Based on the Altman-Z score of 1.27, we must say that MRL is in the distress zone and has some risk of bankruptcy.
MRL has a Altman-Z score of 1.27. This is amongst the best in the industry. MRL outperforms 80.49% of its industry peers.
The Debt to FCF ratio of MRL is 14.60, which is on the high side as it means it would take MRL, 14.60 years of fcf income to pay off all of its debts.
Looking at the Debt to FCF ratio, with a value of 14.60, MRL is in line with its industry, outperforming 46.34% of the companies in the same industry.
A Debt/Equity ratio of 0.55 indicates that MRL is somewhat dependend on debt financing.
The Debt to Equity ratio of MRL (0.55) is better than 70.73% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.55 | ||
| Debt/FCF | 14.6 | ||
| Altman-Z | 1.27 |
ROIC/WACC0.46
WACC5.46%
2.3 Liquidity
A Current Ratio of 3.53 indicates that MRL has no problem at all paying its short term obligations.
With an excellent Current ratio value of 3.53, MRL belongs to the best of the industry, outperforming 97.56% of the companies in the same industry.
MRL has a Quick Ratio of 3.33. This indicates that MRL is financially healthy and has no problem in meeting its short term obligations.
MRL has a better Quick ratio (3.33) than 97.56% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 3.53 | ||
| Quick Ratio | 3.33 |
3. Growth
3.1 Past
MRL shows a strong negative growth in Earnings Per Share. In the last year the EPS decreased by -42.92%.
The earnings per share for MRL have been decreasing by -14.43% on average. This is quite bad
MRL shows a small growth in Revenue. In the last year, the Revenue has grown by 7.77%.
Measured over the past years, MRL shows a decrease in Revenue. The Revenue has been decreasing by -0.80% on average per year.
EPS 1Y (TTM)-42.92%
EPS 3Y-19.91%
EPS 5Y-14.43%
EPS Q2Q%0%
Revenue 1Y (TTM)7.77%
Revenue growth 3Y1.84%
Revenue growth 5Y-0.8%
Sales Q2Q%16.75%
3.2 Future
Based on estimates for the next years, MRL will show a quite strong growth in Earnings Per Share. The EPS will grow by 9.41% on average per year.
The Revenue is expected to grow by 15.80% on average over the next years. This is quite good.
EPS Next Y-0.75%
EPS Next 2Y1.3%
EPS Next 3Y3.49%
EPS Next 5Y9.41%
Revenue Next Year9.75%
Revenue Next 2Y8.81%
Revenue Next 3Y9.99%
Revenue Next 5Y15.8%
3.3 Evolution
When comparing the EPS growth rate of the last years to the growth rate of the upcoming years, we see that the growth is accelerating.
The Revenue growth rate is accelerating: in the next years the growth will be better than in the last years.
4. Valuation
4.1 Price/Earnings Ratio
MRL is valuated rather expensively with a Price/Earnings ratio of 21.16.
MRL's Price/Earnings ratio is in line with the industry average.
When comparing the Price/Earnings ratio of MRL to the average of the S&P500 Index (26.38), we can say MRL is valued inline with the index average.
Based on the Price/Forward Earnings ratio of 20.62, the valuation of MRL can be described as rather expensive.
Based on the Price/Forward Earnings ratio, MRL is valued a bit more expensive than the industry average as 75.61% of the companies are valued more cheaply.
MRL's Price/Forward Earnings ratio indicates a similar valuation than the S&P500 average which is at 23.83.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 21.16 | ||
| Fwd PE | 20.62 |
4.2 Price Multiples
75.61% of the companies in the same industry are cheaper than MRL, based on the Enterprise Value to EBITDA ratio.
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 73.17% of the companies listed in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 21.97 | ||
| EV/EBITDA | 24.33 |
4.3 Compensation for Growth
MRL has a very decent profitability rating, which may justify a higher PE ratio.
PEG (NY)N/A
PEG (5Y)N/A
EPS Next 2Y1.3%
EPS Next 3Y3.49%
5. Dividend
5.1 Amount
MRL has a Yearly Dividend Yield of 1.47%. Purely for dividend investing, there may be better candidates out there.
Compared to an average industry Dividend Yield of 5.19, MRL's dividend is way lower than its industry peers. On top of this 85.37% of the companies listed in the same industry pay a better dividend than MRL!
MRL's Dividend Yield is slightly below the S&P500 average, which is at 1.87.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 1.47% |
5.2 History
The dividend of MRL decreases each year by -12.73%.
Dividend Growth(5Y)-12.73%
Div Incr Years0
Div Non Decr Years0
5.3 Sustainability
16.87% of the earnings are spent on dividend by MRL. This is a low number and sustainable payout ratio.
DP16.87%
EPS Next 2Y1.3%
EPS Next 3Y3.49%
ELI:MRL (12/17/2025, 7:00:00 PM)
11.85
-0.63 (-5.05%)
Chartmill FA Rating
GICS SectorReal Estate
GICS IndustryGroupEquity Real Estate Investment Trusts (REITs)
GICS IndustryDiversified REITs
Earnings (Last)
Earnings (Next)
Inst Owners39.21%
Inst Owner ChangeN/A
Ins Owners0.28%
Ins Owner ChangeN/A
Market Cap6.68B
Revenue(TTM)519.13M
Net Income(TTM)663.86M
Analysts84.62
Price Target15.46 (30.46%)
Short Float %N/A
Short RatioN/A
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 1.47% |
Yearly Dividend0.2
Dividend Growth(5Y)-12.73%
DP16.87%
Div Incr Years0
Div Non Decr Years0
Ex-DateN/A
Surprises & Revisions
EPS beat(2)1
Avg EPS beat(2)-0.99%
Min EPS beat(2)-8.06%
Max EPS beat(2)6.08%
EPS beat(4)2
Avg EPS beat(4)1.19%
Min EPS beat(4)-15.13%
Max EPS beat(4)21.86%
EPS beat(8)3
Avg EPS beat(8)33.95%
EPS beat(12)5
Avg EPS beat(12)25.63%
EPS beat(16)8
Avg EPS beat(16)67.76%
Revenue beat(2)2
Avg Revenue beat(2)7.38%
Min Revenue beat(2)0.4%
Max Revenue beat(2)14.37%
Revenue beat(4)3
Avg Revenue beat(4)1.6%
Min Revenue beat(4)-12.21%
Max Revenue beat(4)14.37%
Revenue beat(8)6
Avg Revenue beat(8)0.28%
Revenue beat(12)8
Avg Revenue beat(12)-0.15%
Revenue beat(16)10
Avg Revenue beat(16)-1.04%
PT rev (1m)2.94%
PT rev (3m)8.12%
EPS NQ rev (1m)0%
EPS NQ rev (3m)0%
EPS NY rev (1m)-0.99%
EPS NY rev (3m)-0.64%
Revenue NQ rev (1m)-5.86%
Revenue NQ rev (3m)-4.97%
Revenue NY rev (1m)-0.39%
Revenue NY rev (3m)0.35%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 21.16 | ||
| Fwd PE | 20.62 | ||
| P/S | 13.01 | ||
| P/FCF | 21.97 | ||
| P/OCF | 20.46 | ||
| P/B | 0.85 | ||
| P/tB | 0.85 | ||
| EV/EBITDA | 24.33 |
EPS(TTM)0.56
EY4.73%
EPS(NY)0.57
Fwd EY4.85%
FCF(TTM)0.54
FCFY4.55%
OCF(TTM)0.58
OCFY4.89%
SpS0.91
BVpS13.99
TBVpS13.99
PEG (NY)N/A
PEG (5Y)N/A
Graham Number13.28
Profitability
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 4.96% | ||
| ROE | 8.42% | ||
| ROCE | 3.18% | ||
| ROIC | 2.51% | ||
| ROICexc | 2.69% | ||
| ROICexgc | 2.69% | ||
| OM | 81.15% | ||
| PM (TTM) | 129.33% | ||
| GM | N/A | ||
| FCFM | 59.24% |
ROA(3y)1.2%
ROA(5y)1.52%
ROE(3y)2.12%
ROE(5y)2.9%
ROIC(3y)2.33%
ROIC(5y)2.23%
ROICexc(3y)2.51%
ROICexc(5y)2.38%
ROICexgc(3y)2.51%
ROICexgc(5y)2.38%
ROCE(3y)2.95%
ROCE(5y)2.82%
ROICexgc growth 3Y5.27%
ROICexgc growth 5Y2.62%
ROICexc growth 3Y5.27%
ROICexc growth 5Y2.62%
OM growth 3Y-1.01%
OM growth 5Y0.41%
PM growth 3Y-19.36%
PM growth 5Y-12.12%
GM growth 3YN/A
GM growth 5YN/A
F-Score7
Asset Turnover0.04
Health
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.55 | ||
| Debt/FCF | 14.6 | ||
| Debt/EBITDA | 10.28 | ||
| Cap/Depr | 425.33% | ||
| Cap/Sales | 4.36% | ||
| Interest Coverage | 3.56 | ||
| Cash Conversion | 77.39% | ||
| Profit Quality | 45.8% | ||
| Current Ratio | 3.53 | ||
| Quick Ratio | 3.33 | ||
| Altman-Z | 1.27 |
F-Score7
WACC5.46%
ROIC/WACC0.46
Cap/Depr(3y)211.84%
Cap/Depr(5y)198.47%
Cap/Sales(3y)1.59%
Cap/Sales(5y)1.22%
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)-42.92%
EPS 3Y-19.91%
EPS 5Y-14.43%
EPS Q2Q%0%
EPS Next Y-0.75%
EPS Next 2Y1.3%
EPS Next 3Y3.49%
EPS Next 5Y9.41%
Revenue 1Y (TTM)7.77%
Revenue growth 3Y1.84%
Revenue growth 5Y-0.8%
Sales Q2Q%16.75%
Revenue Next Year9.75%
Revenue Next 2Y8.81%
Revenue Next 3Y9.99%
Revenue Next 5Y15.8%
EBIT growth 1Y16.96%
EBIT growth 3Y0.81%
EBIT growth 5Y-0.4%
EBIT Next Year13.26%
EBIT Next 3Y11.46%
EBIT Next 5Y13.51%
FCF growth 1Y8.69%
FCF growth 3Y9.44%
FCF growth 5Y0.85%
OCF growth 1Y16%
OCF growth 3Y11.19%
OCF growth 5Y1.44%
MERLIN PROPERTIES SOCIMI SA / MRL.LS FAQ
What is the ChartMill fundamental rating of MERLIN PROPERTIES SOCIMI SA (MRL.LS) stock?
ChartMill assigns a fundamental rating of 4 / 10 to MRL.LS.
What is the valuation status for MRL stock?
ChartMill assigns a valuation rating of 1 / 10 to MERLIN PROPERTIES SOCIMI SA (MRL.LS). This can be considered as Overvalued.
What is the profitability of MRL stock?
MERLIN PROPERTIES SOCIMI SA (MRL.LS) has a profitability rating of 6 / 10.
What is the valuation of MERLIN PROPERTIES SOCIMI SA based on its PE and PB ratios?
The Price/Earnings (PE) ratio for MERLIN PROPERTIES SOCIMI SA (MRL.LS) is 21.16 and the Price/Book (PB) ratio is 0.85.
Is the dividend of MERLIN PROPERTIES SOCIMI SA sustainable?
The dividend rating of MERLIN PROPERTIES SOCIMI SA (MRL.LS) is 2 / 10 and the dividend payout ratio is 16.87%.