MERLIN PROPERTIES SOCIMI SA (MRL.LS) Stock Fundamental Analysis
Europe - Euronext Lisbon - ELI:MRL - ES0105025003 - REIT
12.6 EUR
-0.08 (-0.63%)
Taking everything into account, MRL scores 4 out of 10 in our fundamental rating. MRL was compared to 42 industry peers in the Diversified REITs industry. MRL has only an average score on both its financial health and profitability. MRL is quite expensive at the moment. It does show a decent growth rate.
1. Profitability
1.1 Basic Checks
MRL had positive earnings in the past year.
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.
1.2 Ratios
MRL has a better Return On Assets (4.96%) than 85.71% of its industry peers.
With a decent Return On Equity value of 8.42%, MRL is doing good in the industry, outperforming 78.57% of the companies in the same industry.
With a Return On Invested Capital value of 2.51%, MRL is not doing good in the industry: 73.81% of the companies in the same industry are doing better.
The Average Return On Invested Capital over the past 3 years for MRL is in line with the industry average of 3.52%.
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
With an excellent Profit Margin value of 129.33%, MRL belongs to the best of the industry, outperforming 97.62% of the companies in the same industry.
In the last couple of years the Profit Margin of MRL has declined.
Looking at the Operating Margin, with a value of 81.15%, MRL belongs to the top of the industry, outperforming 80.95% 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
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 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
MRL has an Altman-Z score of 1.32. This is a bad value and indicates that MRL is not financially healthy and even has some risk of bankruptcy.
MRL has a Altman-Z score of 1.32. This is amongst the best in the industry. MRL outperforms 88.10% 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.
MRL has a Debt to FCF ratio of 14.60. This is comparable to the rest of the industry: MRL outperforms 50.00% of its industry peers.
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 71.43% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.55 | ||
| Debt/FCF | 14.6 | ||
| Altman-Z | 1.32 |
ROIC/WACC0.45
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.
MRL has a better Current ratio (3.53) than 97.62% 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.
Looking at the Quick ratio, with a value of 3.33, MRL belongs to the top of the industry, outperforming 97.62% of the companies in the same industry.
| 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 -14.43% on average. This is quite bad
The Revenue has been growing slightly by 6.41% in the past year.
Measured over the past years, MRL shows a decrease in Revenue. The Revenue has been decreasing by -0.80% on average per year.
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
MRL is expected to show quite a strong growth in Earnings Per Share. In the coming years, the EPS will grow by 15.21% yearly.
MRL is expected to show quite a strong growth in Revenue. In the coming years, the Revenue will grow by 13.79% yearly.
EPS Next Y0.24%
EPS Next 2Y1.75%
EPS Next 3Y3.51%
EPS Next 5Y15.21%
Revenue Next Year10.18%
Revenue Next 2Y8.9%
Revenue Next 3Y9.98%
Revenue Next 5Y13.79%
3.3 Evolution
The EPS growth rate is accelerating: in the next years the growth will be better than in the last years.
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
MRL is valuated rather expensively with a Price/Earnings ratio of 22.50.
The rest of the industry has a similar Price/Earnings ratio as MRL.
When comparing the Price/Earnings ratio of MRL to the average of the S&P500 Index (26.15), we can say MRL is valued inline with the index average.
A Price/Forward Earnings ratio of 21.73 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 76.19% of the companies are valued more cheaply.
MRL is valuated rather cheaply when we compare the Price/Forward Earnings ratio to 36.12, which is the current average of the S&P500 Index.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 22.5 | ||
| Fwd PE | 21.73 |
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 73.81% of the companies listed in the same industry.
MRL's Price/Free Cash Flow ratio is a bit more expensive when compared to the industry. MRL is more expensive than 71.43% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 23.36 | ||
| EV/EBITDA | 25.33 |
4.3 Compensation for Growth
The high PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates an expensive valuation of the company.
The decent profitability rating of MRL may justify a higher PE ratio.
PEG (NY)92.78
PEG (5Y)N/A
EPS Next 2Y1.75%
EPS Next 3Y3.51%
5. Dividend
5.1 Amount
MRL has a Yearly Dividend Yield of 1.41%. Purely for dividend investing, there may be better candidates out there.
With a Dividend Yield of 1.41, MRL pays less dividend than the industry average, which is at 5.87. 83.33% of the companies listed in the same industry pay a better dividend than MRL!
Compared to an average S&P500 Dividend Yield of 2.41, MRL's dividend is way lower than the S&P500 average.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 1.41% |
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
MRL pays out 16.87% of its income as dividend. This is a sustainable payout ratio.
DP16.87%
EPS Next 2Y1.75%
EPS Next 3Y3.51%
ELI:MRL (11/26/2025, 7:00:00 PM)
12.6
-0.08 (-0.63%)
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 Cap7.10B
Revenue(TTM)494.57M
Net Income(TTM)663.86M
Analysts84.62
Price Target14.76 (17.14%)
Short Float %N/A
Short RatioN/A
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 1.41% |
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)2.21%
PT rev (3m)8.31%
EPS NQ rev (1m)0%
EPS NQ rev (3m)0%
EPS NY rev (1m)0.18%
EPS NY rev (3m)0.35%
Revenue NQ rev (1m)-4.97%
Revenue NQ rev (3m)-4.96%
Revenue NY rev (1m)0.13%
Revenue NY rev (3m)1.19%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 22.5 | ||
| Fwd PE | 21.73 | ||
| P/S | 13.84 | ||
| P/FCF | 23.36 | ||
| P/OCF | 21.76 | ||
| P/B | 0.9 | ||
| P/tB | 0.9 | ||
| EV/EBITDA | 25.33 |
EPS(TTM)0.56
EY4.44%
EPS(NY)0.58
Fwd EY4.6%
FCF(TTM)0.54
FCFY4.28%
OCF(TTM)0.58
OCFY4.6%
SpS0.91
BVpS13.99
TBVpS13.99
PEG (NY)92.78
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 | 1.32 |
F-Score7
WACC5.54%
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 Y0.24%
EPS Next 2Y1.75%
EPS Next 3Y3.51%
EPS Next 5Y15.21%
Revenue 1Y (TTM)6.41%
Revenue growth 3Y1.84%
Revenue growth 5Y-0.8%
Sales Q2Q%16.75%
Revenue Next Year10.18%
Revenue Next 2Y8.9%
Revenue Next 3Y9.98%
Revenue Next 5Y13.79%
EBIT growth 1Y16.96%
EBIT growth 3Y0.81%
EBIT growth 5Y-0.4%
EBIT Next Year13.32%
EBIT Next 3Y11.01%
EBIT Next 5Y13.47%
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 2 / 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 22.5 and the Price/Book (PB) ratio is 0.9.
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%.