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

ELI:MRL • ES0105025003

Current stock price

15.2 EUR
0 (0%)
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.
  • MRL had a positive operating cash flow in the past year.
  • MRL had positive earnings in 4 of the past 5 years.
  • In the past 5 years MRL always reported a positive cash flow from operatings.
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 Return On Assets of 5.33%. This is amongst the best in the industry. MRL outperforms 85.37% of its industry peers.
  • The Return On Equity of MRL (9.41%) is better than 85.37% of its industry peers.
  • MRL has a worse Return On Invested Capital (2.23%) than 75.61% 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 3.75%.
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

  • MRL's Profit Margin of 140.92% is amongst the best of the industry. MRL outperforms 100.00% of its industry peers.
  • 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 58.54% 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.
  • Compared to 1 year ago, MRL has about the same amount of shares outstanding.
  • 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

  • Based on the Altman-Z score of 1.39, we must say that MRL is in the distress zone and has some risk of bankruptcy.
  • MRL has a better Altman-Z score (1.39) than 90.24% of its industry peers.
  • 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.
  • Looking at the Debt to FCF ratio, with a value of 12.28, MRL is in line with its industry, outperforming 53.66% of the companies in the same industry.
  • 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 85.37% of its industry peers.
Industry RankSector Rank
Debt/Equity 0.51
Debt/FCF 12.28
Altman-Z 1.39
ROIC/WACC0.38
WACC5.89%
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.
  • With an excellent Current ratio value of 1.18, MRL belongs to the best of the industry, outperforming 85.37% of the companies in the same industry.
  • MRL has a Quick Ratio of 1.13. This is a normal value and indicates that MRL is financially healthy and should not expect problems in meeting its short term obligations.
  • MRL has a better Quick ratio (1.13) than 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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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.
  • Measured over the past years, MRL shows a very negative growth in Earnings Per Share. The EPS has been decreasing by -14.43% on average per year.
  • MRL shows quite a strong growth in Revenue. In the last year, the Revenue has grown by 9.05%.
  • 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

  • Based on estimates for the next years, MRL will show a quite strong growth in Earnings Per Share. The EPS will grow by 9.97% on average per year.
  • Based on estimates for the next years, MRL will show a quite strong growth in Revenue. The Revenue will grow by 15.38% on average per year.
EPS Next Y15.01%
EPS Next 2Y7.78%
EPS Next 3Y1.79%
EPS Next 5Y9.97%
Revenue Next Year11.03%
Revenue Next 2Y10.22%
Revenue Next 3Y11.63%
Revenue Next 5Y15.38%

3.3 Evolution

  • The EPS growth rate is accelerating: in the next years the growth will be better than in the last years.
  • The Revenue growth rate is accelerating: in the next years the growth will be better than in the last years.
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 2031 2032 500M 1B 1.5B
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 19.24, the valuation of MRL can be described as rather expensive.
  • MRL's Price/Earnings ratio is a bit more expensive when compared to the industry. MRL is more expensive than 68.29% of the companies in the same industry.
  • The average S&P500 Price/Earnings ratio is at 27.42. MRL is valued slightly cheaper when compared to this.
  • With a Price/Forward Earnings ratio of 23.36, MRL is valued on the expensive side.
  • 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.
  • Compared to an average S&P500 Price/Forward Earnings ratio of 22.24, MRL is valued at the same level.
Industry RankSector Rank
PE 19.24
Fwd PE 23.36
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 63.41% 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 70.73% of the companies listed in the same industry.
Industry RankSector Rank
P/FCF 23.27
EV/EBITDA 35.15
MRL.LS Per share dataMRL.LS EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 2 4 6 8 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)1.28
PEG (5Y)N/A
EPS Next 2Y7.78%
EPS Next 3Y1.79%

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5

5. MRL.LS Dividend Analysis

5.1 Amount

  • MRL has a Yearly Dividend Yield of 2.35%.
  • With a Dividend Yield of 2.35, MRL pays less dividend than the industry average, which is at 5.39. 80.49% of the companies listed in the same industry pay a better dividend than MRL!
  • Compared to an average S&P500 Dividend Yield of 1.81, MRL pays a bit more dividend than the S&P500 average.
Industry RankSector Rank
Dividend Yield 2.35%

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.
  • 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 2Y7.78%
EPS Next 3Y1.79%
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 (4/23/2026, 7:00:00 PM)

15.2

0 (0%)

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 Owners34.68%
Inst Owner ChangeN/A
Ins Owners0.25%
Ins Owner ChangeN/A
Market Cap9.42B
Revenue(TTM)539.41M
Net Income(TTM)760.16M
Analysts85
Price Target17.13 (12.7%)
Short Float %N/A
Short RatioN/A
Dividend
Industry RankSector Rank
Dividend Yield 2.35%
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)11.13%
PT rev (3m)10.97%
EPS NQ rev (1m)0%
EPS NQ rev (3m)0%
EPS NY rev (1m)-9.22%
EPS NY rev (3m)13.35%
Revenue NQ rev (1m)0%
Revenue NQ rev (3m)4.91%
Revenue NY rev (1m)1.8%
Revenue NY rev (3m)2.6%
Valuation
Industry RankSector Rank
PE 19.24
Fwd PE 23.36
P/S 17.47
P/FCF 23.27
P/OCF 22.68
P/B 1.17
P/tB 1.17
EV/EBITDA 35.15
EPS(TTM)0.79
EY5.2%
EPS(NY)0.65
Fwd EY4.28%
FCF(TTM)0.65
FCFY4.3%
OCF(TTM)0.67
OCFY4.41%
SpS0.87
BVpS13.02
TBVpS13.02
PEG (NY)1.28
PEG (5Y)N/A
Graham Number15.2148 (0.1%)
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 1.39
F-Score7
WACC5.89%
ROIC/WACC0.38
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 2Y7.78%
EPS Next 3Y1.79%
EPS Next 5Y9.97%
Revenue 1Y (TTM)9.05%
Revenue growth 3Y1.84%
Revenue growth 5Y-0.8%
Sales Q2Q%29.54%
Revenue Next Year11.03%
Revenue Next 2Y10.22%
Revenue Next 3Y11.63%
Revenue Next 5Y15.38%
EBIT growth 1Y1.49%
EBIT growth 3Y6.58%
EBIT growth 5Y2.85%
EBIT Next Year-18.87%
EBIT Next 3Y3.33%
EBIT Next 5Y9.54%
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 19.24 and the Price/Book (PB) ratio is 1.17.


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.