MERLIN PROPERTIES SOCIMI SA (MRL.LS) Stock Fundamental Analysis
Europe - ELI:MRL - ES0105025003 - REIT
14.09 EUR
0 (0%)
MRL gets a fundamental rating of 4 out of 10. The analysis compared the fundamentals against 39 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. While showing a medium growth rate, MRL is valued expensive at the moment.
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.
Of the past 5 years MRL 4 years were profitable.
Each year in the past 5 years MRL had a positive operating cash flow.
1.2 Ratios
Looking at the Return On Assets, with a value of 4.96%, MRL belongs to the top of the industry, outperforming 87.18% of the companies in the same industry.
MRL has a Return On Equity of 8.42%. This is amongst the best in the industry. MRL outperforms 82.05% of its industry peers.
With a Return On Invested Capital value of 2.51%, MRL is not doing good in the industry: 76.92% of the companies in the same industry are doing better.
Measured over the past 3 years, the Average Return On Invested Capital for MRL is in line with the industry average of 3.49%.
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 97.44% of its industry peers.
MRL's Profit Margin has declined in the last couple of years.
Looking at the Operating Margin, with a value of 81.15%, MRL is in the better half of the industry, outperforming 79.49% of the companies in the same industry.
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
The Return on Invested Capital (ROIC) is below the Cost of Capital (WACC), so MRL is destroying value.
Compared to 1 year ago, MRL has more 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.
2.2 Solvency
MRL has an Altman-Z score of 1.41. This is a bad value and indicates that MRL is not financially healthy and even has some risk of bankruptcy.
With an excellent Altman-Z score value of 1.41, MRL belongs to the best of the industry, outperforming 92.31% of the companies in the same industry.
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.
With a Debt to FCF ratio value of 14.60, MRL perfoms like the industry average, outperforming 46.15% of the companies in the same industry.
A Debt/Equity ratio of 0.55 indicates that MRL is somewhat dependend on debt financing.
MRL's Debt to Equity ratio of 0.55 is fine compared to the rest of the industry. MRL outperforms 71.79% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.55 | ||
| Debt/FCF | 14.6 | ||
| Altman-Z | 1.41 |
ROIC/WACC0.44
WACC5.7%
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.
Looking at the Current ratio, with a value of 3.53, MRL belongs to the top of the industry, outperforming 97.44% of the companies in the same industry.
A Quick Ratio of 3.33 indicates that MRL has no problem at all paying its short term obligations.
MRL has a Quick ratio of 3.33. This is amongst the best in the industry. MRL outperforms 97.44% 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 -43.49%.
MRL shows a very negative growth in Earnings Per Share. Measured over the last years, the EPS has been decreasing by -14.43% yearly.
Looking at the last year, MRL shows a small growth in Revenue. The Revenue has grown by 7.41% in the last year.
MRL shows a decrease in Revenue. Measured over the last years, the Revenue has been decreasing by -0.80% yearly.
EPS 1Y (TTM)-43.49%
EPS 3Y-19.91%
EPS 5Y-14.43%
EPS Q2Q%-7.14%
Revenue 1Y (TTM)7.41%
Revenue growth 3Y1.84%
Revenue growth 5Y-0.8%
Sales Q2Q%6.08%
3.2 Future
Based on estimates for the next years, MRL will show a small growth in Earnings Per Share. The EPS will grow by 5.92% on average per year.
The Revenue is expected to grow by 15.71% on average over the next years. This is quite good.
EPS Next Y0.06%
EPS Next 2Y1.79%
EPS Next 3Y3.3%
EPS Next 5Y5.92%
Revenue Next Year10.03%
Revenue Next 2Y8.84%
Revenue Next 3Y9.31%
Revenue Next 5Y15.71%
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
Based on the Price/Earnings ratio of 25.16, the valuation of MRL can be described as expensive.
Based on the Price/Earnings ratio, MRL is valued a bit more expensive than the industry average as 64.10% of the companies are valued more cheaply.
Compared to an average S&P500 Price/Earnings ratio of 26.03, MRL is valued at the same level.
The Price/Forward Earnings ratio is 24.28, which indicates a rather expensive current valuation of MRL.
Compared to the rest of the industry, the Price/Forward Earnings ratio of MRL indicates a slightly more expensive valuation: MRL is more expensive than 79.49% of the companies listed in the same industry.
MRL's Price/Forward Earnings ratio indicates a similar valuation than the S&P500 average which is at 22.27.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 25.16 | ||
| Fwd PE | 24.28 |
4.2 Price Multiples
Compared to the rest of the industry, the Enterprise Value to EBITDA ratio of MRL indicates a slightly more expensive valuation: MRL is more expensive than 76.92% of the companies listed in the same industry.
76.92% of the companies in the same industry are cheaper than MRL, based on the Price/Free Cash Flow ratio.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 26.12 | ||
| EV/EBITDA | 27.32 |
4.3 Compensation for Growth
The high PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates MRL does not grow enough to justify the current Price/Earnings ratio.
The decent profitability rating of MRL may justify a higher PE ratio.
PEG (NY)404.89
PEG (5Y)N/A
EPS Next 2Y1.79%
EPS Next 3Y3.3%
5. Dividend
5.1 Amount
With a Yearly Dividend Yield of 2.95%, MRL has a reasonable but not impressive dividend return.
Compared to an average industry Dividend Yield of 5.95, MRL is paying slightly less dividend.
Compared to an average S&P500 Dividend Yield of 2.38, MRL pays a bit more dividend than the S&P500 average.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 2.95% |
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 2Y1.79%
EPS Next 3Y3.3%
ELI:MRL (11/3/2025, 7:00:00 PM)
14.09
0 (0%)
Chartmill FA Rating
GICS SectorReal Estate
GICS IndustryGroupEquity Real Estate Investment Trusts (REITs)
GICS IndustryDiversified REITs
Earnings (Last)
Earnings (Next)
Inst Owners38.09%
Inst Owner ChangeN/A
Ins Owners0.28%
Ins Owner ChangeN/A
Market Cap7.94B
Revenue(TTM)513.32M
Net Income(TTM)663.86M
Analysts84.62
Price Target15.02 (6.6%)
Short Float %N/A
Short RatioN/A
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 2.95% |
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)5.04%
PT rev (3m)15.06%
EPS NQ rev (1m)0%
EPS NQ rev (3m)0%
EPS NY rev (1m)0%
EPS NY rev (3m)1.72%
Revenue NQ rev (1m)0.94%
Revenue NQ rev (3m)0.23%
Revenue NY rev (1m)0%
Revenue NY rev (3m)1.48%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 25.16 | ||
| Fwd PE | 24.28 | ||
| P/S | 15.47 | ||
| P/FCF | 26.12 | ||
| P/OCF | 24.33 | ||
| P/B | 1.01 | ||
| P/tB | 1.01 | ||
| EV/EBITDA | 27.32 |
EPS(TTM)0.56
EY3.97%
EPS(NY)0.58
Fwd EY4.12%
FCF(TTM)0.54
FCFY3.83%
OCF(TTM)0.58
OCFY4.11%
SpS0.91
BVpS13.99
TBVpS13.99
PEG (NY)404.89
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 | 1.41 |
F-Score7
WACC5.7%
ROIC/WACC0.44
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)-43.49%
EPS 3Y-19.91%
EPS 5Y-14.43%
EPS Q2Q%-7.14%
EPS Next Y0.06%
EPS Next 2Y1.79%
EPS Next 3Y3.3%
EPS Next 5Y5.92%
Revenue 1Y (TTM)7.41%
Revenue growth 3Y1.84%
Revenue growth 5Y-0.8%
Sales Q2Q%6.08%
Revenue Next Year10.03%
Revenue Next 2Y8.84%
Revenue Next 3Y9.31%
Revenue Next 5Y15.71%
EBIT growth 1Y16.96%
EBIT growth 3Y0.81%
EBIT growth 5Y-0.4%
EBIT Next Year13.32%
EBIT Next 3Y11.01%
EBIT Next 5Y14.56%
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 25.16 and the Price/Book (PB) ratio is 1.01.
Is the dividend of MERLIN PROPERTIES SOCIMI SA sustainable?
The dividend rating of MERLIN PROPERTIES SOCIMI SA (MRL.LS) is 3 / 10 and the dividend payout ratio is 16.87%.