MERLIN PROPERTIES SOCIMI SA (MRL.LS) Stock Fundamental Analysis
Europe - Euronext Lisbon - ELI:MRL - ES0105025003 - REIT
12.48 EUR
+0.38 (+3.14%)
MRL gets a fundamental rating of 4 out of 10. The analysis compared the fundamentals against 40 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 valied quite expensively at the moment, while it does show a decent growth rate.
1. Profitability
1.1 Basic Checks
MRL had positive earnings in the past year.
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.
1.2 Ratios
MRL has a Return On Assets of 4.96%. This is amongst the best in the industry. MRL outperforms 87.50% of its industry peers.
MRL has a Return On Equity of 8.42%. This is in the better half of the industry: MRL outperforms 80.00% of its industry peers.
MRL has a Return On Invested Capital of 2.51%. This is in the lower half of the industry: MRL underperforms 75.00% 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 3.46%.
The last Return On Invested Capital (2.51%) for MRL is above the 3 year average (2.33%), which is a sign of increasing profitability.
| 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
Looking at the Profit Margin, with a value of 129.33%, MRL belongs to the top of the industry, outperforming 97.50% of the companies in the same industry.
In the last couple of years the Profit Margin of MRL has declined.
The Operating Margin of MRL (81.15%) is better than 80.00% of its industry peers.
MRL's Operating Margin has been stable in the last couple of years.
| 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.
MRL has a better debt/assets ratio than last year.
2.2 Solvency
Based on the Altman-Z score of 1.31, we must say that MRL is in the distress zone and has some risk of bankruptcy.
MRL has a Altman-Z score of 1.31. This is amongst the best in the industry. MRL outperforms 87.50% 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 47.50% of the companies in the same industry.
MRL has a Debt/Equity ratio of 0.55. This is a neutral value indicating MRL is somewhat dependend on debt financing.
MRL has a Debt to Equity ratio of 0.55. This is in the better half of the industry: MRL outperforms 70.00% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.55 | ||
| Debt/FCF | 14.6 | ||
| Altman-Z | 1.31 |
ROIC/WACC0.45
WACC5.53%
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.
MRL has a Current ratio of 3.53. This is amongst the best in the industry. MRL outperforms 97.50% 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.
The Quick ratio of MRL (3.33) is better than 97.50% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 3.53 | ||
| Quick Ratio | 3.33 |
3. Growth
3.1 Past
The earnings per share for MRL have decreased strongly by -42.92% in the last year.
MRL shows a very negative growth in Earnings Per Share. Measured over the last years, the EPS has been decreasing by -14.43% yearly.
The Revenue has been growing slightly by 6.41% in the past year.
MRL shows a decrease in Revenue. Measured over the last years, the Revenue has been decreasing by -0.80% yearly.
EPS 1Y (TTM)-42.92%
EPS 3Y-19.91%
EPS 5Y-14.43%
EPS Q2Q%0%
Revenue 1Y (TTM)6.41%
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.
MRL is expected to show quite a strong growth in Revenue. In the coming years, the Revenue will grow by 15.80% yearly.
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.
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
The Price/Earnings ratio is 22.29, which indicates a rather expensive current valuation of MRL.
Compared to the rest of the industry, the Price/Earnings ratio of MRL is on the same level as its industry peers.
Compared to an average S&P500 Price/Earnings ratio of 26.54, MRL is valued at the same level.
The Price/Forward Earnings ratio is 21.72, which indicates a rather expensive current valuation of MRL.
Based on the Price/Forward Earnings ratio, MRL is valued a bit more expensive than the industry average as 77.50% of the companies are valued more cheaply.
The average S&P500 Price/Forward Earnings ratio is at 23.78. MRL is around the same levels.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 22.29 | ||
| Fwd PE | 21.72 |
4.2 Price Multiples
MRL's Enterprise Value to EBITDA ratio is a bit more expensive when compared to the industry. MRL is more expensive than 75.00% of the companies in the same industry.
Based on the Price/Free Cash Flow ratio, MRL is valued a bit more expensive than 72.50% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 23.14 | ||
| EV/EBITDA | 25.17 |
4.3 Compensation for Growth
The decent profitability rating of MRL 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 1.45%. Purely for dividend investing, there may be better candidates out there.
With a Dividend Yield of 1.45, MRL pays less dividend than the industry average, which is at 5.96. 85.00% 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 2.27.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 1.45% |
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 (12/10/2025, 7:00:00 PM)
12.48
+0.38 (+3.14%)
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 Cap7.04B
Revenue(TTM)494.57M
Net Income(TTM)663.86M
Analysts84.62
Price Target15.46 (23.88%)
Short Float %N/A
Short RatioN/A
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 1.45% |
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)7.39%
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)-4.96%
Revenue NY rev (1m)-0.39%
Revenue NY rev (3m)0.8%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 22.29 | ||
| Fwd PE | 21.72 | ||
| P/S | 13.71 | ||
| P/FCF | 23.14 | ||
| P/OCF | 21.55 | ||
| P/B | 0.89 | ||
| P/tB | 0.89 | ||
| EV/EBITDA | 25.17 |
EPS(TTM)0.56
EY4.49%
EPS(NY)0.57
Fwd EY4.6%
FCF(TTM)0.54
FCFY4.32%
OCF(TTM)0.58
OCFY4.64%
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 | 1.31 |
F-Score7
WACC5.53%
ROIC/WACC0.45
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)6.41%
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 22.29 and the Price/Book (PB) ratio is 0.89.
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%.