MERLIN PROPERTIES SOCIMI SA (MRL.LS) Stock Fundamental Analysis
Europe - Euronext Lisbon - ELI:MRL - ES0105025003 - REIT
12.55 EUR
-0.3 (-2.33%)
We assign a fundamental rating of 5 out of 10 to MRL. MRL was compared to 42 industry peers in the Diversified REITs industry. While MRL belongs to the best of the industry regarding profitability, there are some minor concerns on its financial health. MRL is valied quite expensively at the moment, while 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.
MRL had a positive operating cash flow in each of the past 5 years.
1.2 Ratios
With an excellent Return On Assets value of 4.96%, MRL belongs to the best of the industry, outperforming 85.71% of the companies in the same industry.
MRL has a Return On Equity of 8.42%. This is in the better half of the industry: MRL outperforms 78.57% of its industry peers.
MRL has a Return On Invested Capital of 4.66%. This is amongst the best in the industry. MRL outperforms 83.33% 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 3.55%.
The 3 year average ROIC (1.58%) for MRL is below the current ROIC(4.66%), indicating increased profibility in the last year.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 4.96% | ||
| ROE | 8.42% | ||
| ROIC | 4.66% |
ROA(3y)1.2%
ROA(5y)1.52%
ROE(3y)2.12%
ROE(5y)2.9%
ROIC(3y)1.58%
ROIC(5y)1.78%
1.3 Margins
MRL's Profit Margin of 129.18% is amongst the best of the industry. MRL outperforms 97.62% of its industry peers.
MRL's Profit Margin has declined in the last couple of years.
MRL has a better Operating Margin (150.20%) than 100.00% of its industry peers.
MRL's Operating Margin has been stable in the last couple of years.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| OM | 150.2% | ||
| PM (TTM) | 129.18% | ||
| GM | N/A |
OM growth 3Y-1.09%
OM growth 5Y0.36%
PM growth 3Y-19.36%
PM growth 5Y-12.12%
GM growth 3YN/A
GM growth 5YN/A
2. Health
2.1 Basic Checks
The Return on Invested Capital (ROIC) is below the Cost of Capital (WACC), so MRL is destroying value.
MRL has more shares outstanding than it did 1 year ago.
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
MRL has an Altman-Z score of 1.40. This is a bad value and indicates that MRL is not financially healthy and even has some risk of bankruptcy.
MRL has a better Altman-Z score (1.40) than 90.48% of its industry peers.
The Debt to FCF ratio of MRL is 14.59, which is on the high side as it means it would take MRL, 14.59 years of fcf income to pay off all of its debts.
MRL has a Debt to FCF ratio of 14.59. This is comparable to the rest of the industry: MRL outperforms 47.62% of its industry peers.
A Debt/Equity ratio of 0.55 indicates that MRL is somewhat dependend on debt financing.
With a decent Debt to Equity ratio value of 0.55, MRL is doing good in the industry, outperforming 71.43% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.55 | ||
| Debt/FCF | 14.59 | ||
| Altman-Z | 1.4 |
ROIC/WACC0.84
WACC5.54%
2.3 Liquidity
MRL has a Current Ratio of 3.53. This indicates that MRL is financially healthy and has no problem in meeting its short term obligations.
The Current ratio of MRL (3.53) is better than 100.00% of its industry peers.
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 Quick ratio of 3.33. This is amongst the best in the industry. MRL outperforms 100.00% 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 -14.33% on average. This is quite bad
Looking at the last year, MRL shows a small growth in Revenue. The Revenue has grown by 7.93% in the last year.
Measured over the past years, MRL shows a decrease in Revenue. The Revenue has been decreasing by -0.78% on average per year.
EPS 1Y (TTM)-42.92%
EPS 3Y-19.91%
EPS 5Y-14.33%
EPS Q2Q%0%
Revenue 1Y (TTM)7.93%
Revenue growth 3Y1.87%
Revenue growth 5Y-0.78%
Sales Q2Q%16.75%
3.2 Future
The Earnings Per Share is expected to grow by 9.09% on average over the next years. This is quite good.
Based on estimates for the next years, MRL will show a quite strong growth in Revenue. The Revenue will grow by 15.47% on average per year.
EPS Next Y-0.75%
EPS Next 2Y1.3%
EPS Next 3Y3.49%
EPS Next 5Y9.09%
Revenue Next Year9.75%
Revenue Next 2Y8.81%
Revenue Next 3Y9.99%
Revenue Next 5Y15.47%
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.
4. Valuation
4.1 Price/Earnings Ratio
With a Price/Earnings ratio of 22.41, MRL is valued on the expensive side.
Compared to the rest of the industry, the Price/Earnings ratio of MRL is on the same level as its industry peers.
When comparing the Price/Earnings ratio of MRL to the average of the S&P500 Index (27.19), we can say MRL is valued inline with the index average.
A Price/Forward Earnings ratio of 21.84 indicates a rather expensive valuation of MRL.
Based on the Price/Forward Earnings ratio, MRL is valued a bit more expensive than the industry average as 78.57% of the companies are valued more cheaply.
Compared to an average S&P500 Price/Forward Earnings ratio of 23.88, MRL is valued at the same level.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 22.41 | ||
| Fwd PE | 21.84 |
4.2 Price Multiples
Compared to the rest of the industry, the Enterprise Value to EBITDA ratio of MRL indicates a rather cheap valuation: MRL is cheaper than 80.95% of the companies listed in the same industry.
Based on the Price/Free Cash Flow ratio, MRL is valued a bit more expensive than the industry average as 76.19% of the companies are valued more cheaply.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 23.26 | ||
| EV/EBITDA | 13.71 |
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 1.39%. Purely for dividend investing, there may be better candidates out there.
With a Dividend Yield of 1.39, MRL pays less dividend than the industry average, which is at 5.01. 83.33% 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 1.90.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 1.39% |
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 Years0
Div Non Decr Years0
5.3 Sustainability
MRL pays out 16.88% of its income as dividend. This is a 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.
DP16.88%
EPS Next 2Y1.3%
EPS Next 3Y3.49%
ELI:MRL (1/9/2026, 7:00:00 PM)
12.55
-0.3 (-2.33%)
Chartmill FA Rating
GICS SectorReal Estate
GICS IndustryGroupEquity Real Estate Investment Trusts (REITs)
GICS IndustryDiversified REITs
Earnings (Last)
Earnings (Next)
Inst Owners39.08%
Inst Owner ChangeN/A
Ins Owners0.28%
Ins Owner ChangeN/A
Market Cap7.07B
Revenue(TTM)520.00M
Net Income(TTM)664.00M
Analysts84.62
Price Target15.46 (23.19%)
Short Float %N/A
Short RatioN/A
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 1.39% |
Yearly Dividend0.44
Dividend Growth(5Y)8.36%
DP16.88%
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)0%
PT rev (3m)7.11%
EPS NQ rev (1m)0%
EPS NQ rev (3m)0%
EPS NY rev (1m)0%
EPS NY rev (3m)-0.81%
Revenue NQ rev (1m)0%
Revenue NQ rev (3m)-4.97%
Revenue NY rev (1m)0%
Revenue NY rev (3m)-0.25%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 22.41 | ||
| Fwd PE | 21.84 | ||
| P/S | 13.76 | ||
| P/FCF | 23.26 | ||
| P/OCF | 21.7 | ||
| P/B | 0.9 | ||
| P/tB | 0.9 | ||
| EV/EBITDA | 13.71 |
EPS(TTM)0.56
EY4.46%
EPS(NY)0.57
Fwd EY4.58%
FCF(TTM)0.54
FCFY4.3%
OCF(TTM)0.58
OCFY4.61%
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 | 5.9% | ||
| ROIC | 4.66% | ||
| ROICexc | 4.98% | ||
| ROICexgc | 4.98% | ||
| OM | 150.2% | ||
| PM (TTM) | 129.18% | ||
| GM | N/A | ||
| FCFM | 59.17% |
ROA(3y)1.2%
ROA(5y)1.52%
ROE(3y)2.12%
ROE(5y)2.9%
ROIC(3y)1.58%
ROIC(5y)1.78%
ROICexc(3y)1.73%
ROICexc(5y)1.91%
ROICexgc(3y)1.73%
ROICexgc(5y)1.91%
ROCE(3y)2.01%
ROCE(5y)2.26%
ROICexgc growth 3Y5.21%
ROICexgc growth 5Y2.58%
ROICexc growth 3Y5.21%
ROICexc growth 5Y2.58%
OM growth 3Y-1.09%
OM growth 5Y0.36%
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 | 14.59 | ||
| Debt/EBITDA | 5.58 | ||
| Cap/Depr | 416.16% | ||
| Cap/Sales | 4.26% | ||
| Interest Coverage | 6.6 | ||
| Cash Conversion | 41.94% | ||
| Profit Quality | 45.8% | ||
| Current Ratio | 3.53 | ||
| Quick Ratio | 3.33 | ||
| Altman-Z | 1.4 |
F-Score7
WACC5.54%
ROIC/WACC0.84
Cap/Depr(3y)208.13%
Cap/Depr(5y)196.25%
Cap/Sales(3y)1.55%
Cap/Sales(5y)1.2%
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-14.33%
EPS Q2Q%0%
EPS Next Y-0.75%
EPS Next 2Y1.3%
EPS Next 3Y3.49%
EPS Next 5Y9.09%
Revenue 1Y (TTM)7.93%
Revenue growth 3Y1.87%
Revenue growth 5Y-0.78%
Sales Q2Q%16.75%
Revenue Next Year9.75%
Revenue Next 2Y8.81%
Revenue Next 3Y9.99%
Revenue Next 5Y15.47%
EBIT growth 1Y116.77%
EBIT growth 3Y0.76%
EBIT growth 5Y-0.43%
EBIT Next Year13.26%
EBIT Next 3Y11.46%
EBIT Next 5Y13.18%
FCF growth 1Y8.78%
FCF growth 3Y9.53%
FCF growth 5Y0.9%
OCF growth 1Y15.92%
OCF growth 3Y11.21%
OCF growth 5Y1.46%
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.
Can you provide the valuation status for MERLIN PROPERTIES SOCIMI SA?
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 financial health of MERLIN PROPERTIES SOCIMI SA (MRL.LS) stock?
The financial health rating of MERLIN PROPERTIES SOCIMI SA (MRL.LS) is 5 / 10.
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 decline by -0.75% in the next year.