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

  • In the past year MRL was profitable.
  • In the past year MRL had a positive cash flow from operations.
  • MRL had positive earnings in 4 of the past 5 years.
  • 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

  • MRL has a better Return On Assets (5.33%) than 85.37% of its industry peers.
  • MRL has a Return On Equity of 9.41%. This is amongst the best in the industry. MRL outperforms 85.37% of its industry peers.
  • MRL's Return On Invested Capital of 2.23% is on the low side compared to the rest of the industry. MRL is outperformed by 78.05% of its industry peers.
  • MRL had an Average Return On Invested Capital over the past 3 years of 2.35%. This is in line with the industry average of 3.72%.
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

  • The Profit Margin of MRL (140.92%) is better than 100.00% of its industry peers.
  • MRL's Profit Margin has improved in the last couple of years.
  • MRL has a Operating Margin of 68.53%. This is comparable to the rest of the industry: MRL outperforms 53.66% 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

  • MRL has a Return on Invested Capital (ROIC), which is below the Cost of Capital (WACC), which means it is destroying value.
  • The number of shares outstanding for MRL remains at a similar level compared to 1 year ago.
  • Compared to 5 years ago, MRL has more shares outstanding
  • The debt/assets ratio for MRL has been reduced compared to a year ago.
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.
  • Looking at the Altman-Z score, with a value of 1.25, MRL belongs to the top of the industry, outperforming 82.93% of the companies in the same industry.
  • MRL has a debt to FCF ratio of 12.28. This is a negative value and a sign of low solvency as MRL would need 12.28 years to pay back of all of its debts.
  • MRL has a better Debt to FCF ratio (12.28) than 60.98% of its industry peers.
  • A Debt/Equity ratio of 0.51 indicates that MRL is somewhat dependend on debt financing.
  • MRL has a Debt to Equity ratio of 0.51. This is amongst the best in the industry. MRL outperforms 80.49% 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 has a better Current ratio (1.18) than 90.24% 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 Quick ratio of 1.13. This is amongst the best in the industry. MRL outperforms 85.37% 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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WACCDebt/EquityHow to determine the health of a companyAltman-Z scoreShow peers with great health

4

3. MRL.LS Growth Analysis

3.1 Past

  • The earnings per share for MRL have decreased by -8.20% in the last year.
  • 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)-8.2%
EPS 3Y-19.91%
EPS 5Y-14.43%
EPS Q2Q%190.91%
Revenue 1Y (TTM)9.05%
Revenue growth 3Y1.84%
Revenue growth 5Y-0.8%
Sales Q2Q%29.54%

3.2 Future

  • MRL is expected to show quite a strong growth in Earnings Per Share. In the coming years, the EPS will grow by 9.07% yearly.
  • MRL is expected to show quite a strong growth in Revenue. In the coming years, the Revenue will grow by 15.35% yearly.
EPS Next Y15.01%
EPS Next 2Y13.12%
EPS Next 3Y7.36%
EPS Next 5Y9.07%
Revenue Next Year11.03%
Revenue Next 2Y9.24%
Revenue Next 3Y9.55%
Revenue Next 5Y15.35%

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.
  • 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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1

4. MRL.LS Valuation Analysis

4.1 Price/Earnings Ratio

  • MRL is valuated quite expensively with a Price/Earnings ratio of 25.43.
  • 63.41% of the companies in the same industry are cheaper than MRL, based on the Price/Earnings ratio.
  • The average S&P500 Price/Earnings ratio is at 25.60. MRL is around the same levels.
  • A Price/Forward Earnings ratio of 19.87 indicates a rather expensive valuation of MRL.
  • 80.49% of the companies in the same industry are cheaper than MRL, based on the Price/Forward Earnings ratio.
  • MRL is valuated at similar levels of the S&P average when we compare the Price/Forward Earnings ratio to 22.84, which is the current average of the S&P500 Index.
Industry RankSector Rank
PE 25.43
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 60.98% of the companies in the same industry.
  • Based on the Price/Free Cash Flow ratio, MRL is valued a bit more expensive than the industry average as 63.41% of the companies are valued more cheaply.
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

  • The 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)1.69
PEG (5Y)N/A
EPS Next 2Y13.12%
EPS Next 3Y7.36%

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Price/EarningsPrice/FCFFCF per shareEV/EBITDAPEG RATIOShow best valued peers

5

5. MRL.LS Dividend Analysis

5.1 Amount

  • MRL has a Yearly Dividend Yield of 2.53%. Purely for dividend investing, there may be better candidates out there.
  • Compared to an average industry Dividend Yield of 5.66, MRL's dividend is way lower than its industry peers. On top of this 80.49% of the companies listed in the same industry pay a better dividend than MRL!
  • MRL's Dividend Yield is a higher than the S&P500 average which is at 1.88.
Industry RankSector Rank
Dividend Yield 2.53%

5.2 History

  • The dividend of MRL is nicely growing with an annual growth rate of 8.36%!
Dividend Growth(5Y)8.36%
Div Incr Years0
Div Non Decr Years0
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.
  • MRL's earnings are growing around the same pace than its dividend. As long as the earnings growth is kept 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)02-27
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
Analysts84.62
Price Target15.41 (8.22%)
Short Float %N/A
Short RatioN/A
Dividend
Industry RankSector Rank
Dividend Yield 2.53%
Yearly Dividend0.44
Dividend Growth(5Y)8.36%
DP16.22%
Div Incr Years0
Div Non Decr Years0
Ex-DateN/A
Surprises & Revisions
EPS beat(2)N/A
Avg EPS beat(2)N/A
Min EPS beat(2)N/A
Max EPS beat(2)N/A
EPS beat(4)N/A
Avg EPS beat(4)N/A
Min EPS beat(4)N/A
Max EPS beat(4)N/A
EPS beat(8)N/A
Avg EPS beat(8)N/A
EPS beat(12)N/A
Avg EPS beat(12)N/A
EPS beat(16)N/A
Avg EPS beat(16)N/A
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)24.86%
EPS NY rev (3m)24.7%
Revenue NQ rev (1m)4.91%
Revenue NQ rev (3m)4.91%
Revenue NY rev (1m)-0.57%
Revenue NY rev (3m)0.79%
Valuation
Industry RankSector Rank
PE 25.43
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)0.56
EY3.93%
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)1.69
PEG (5Y)N/A
Graham Number13.43
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)-8.2%
EPS 3Y-19.91%
EPS 5Y-14.43%
EPS Q2Q%190.91%
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 2Y9.24%
Revenue Next 3Y9.55%
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 1 / 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 25.43 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.