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

ELI:MRL • ES0105025003

Current stock price

14.36 EUR
-0.12 (-0.83%)
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.
  • In the past year MRL had a positive cash flow from operations.
  • Of the past 5 years MRL 4 years were profitable.
  • 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

  • With an excellent Return On Assets value of 5.33%, MRL belongs to the best of the industry, outperforming 86.05% of the companies in the same industry.
  • With an excellent Return On Equity value of 9.41%, MRL belongs to the best of the industry, outperforming 86.05% of the companies in the same industry.
  • Looking at the Return On Invested Capital, with a value of 2.23%, MRL is doing worse than 76.74% of the companies in the same industry.
  • 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 3.74%.
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.
  • MRL's Profit Margin has improved in the last couple of years.
  • Looking at the Operating Margin, with a value of 68.53%, MRL is in line with its industry, outperforming 55.81% 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 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

  • The Return on Invested Capital (ROIC) is below the Cost of Capital (WACC), so MRL is destroying value.
  • The number of shares outstanding for MRL remains at a similar level compared to 1 year ago.
  • Compared to 5 years ago, MRL has more shares outstanding
  • Compared to 1 year ago, MRL has an improved debt to assets ratio.
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

  • MRL has an Altman-Z score of 1.26. This is a bad value and indicates that MRL is not financially healthy and even has some risk of bankruptcy.
  • The Altman-Z score of MRL (1.26) is better than 83.72% 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.
  • MRL has a better Debt to FCF ratio (12.28) than 60.47% of its industry peers.
  • MRL has a Debt/Equity ratio of 0.51. This is a neutral value indicating MRL is somewhat dependend on debt financing.
  • MRL has a better Debt to Equity ratio (0.51) than 74.42% of its industry peers.
Industry RankSector Rank
Debt/Equity 0.51
Debt/FCF 12.28
Altman-Z 1.26
ROIC/WACC0.39
WACC5.68%
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.
  • MRL has a better Current ratio (1.18) than 88.37% of its industry peers.
  • 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.
  • Looking at the Quick ratio, with a value of 1.13, MRL belongs to the top of the industry, outperforming 83.72% of the companies in the same industry.
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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4

3. MRL.LS Growth Analysis

3.1 Past

  • MRL shows a slight negative growth in Earnings Per Share. In the last year, the EPS has decreased by -8.20%.
  • The earnings per share for MRL have been decreasing by -14.43% on average. This is quite bad
  • Looking at the last year, MRL shows a quite strong growth in Revenue. The Revenue has grown by 9.05% in the last year.
  • The Revenue has been decreasing by -0.80% on average over the past years.
EPS 1Y (TTM)-8.2%
EPS 3Y-19.91%
EPS 5Y-14.43%
EPS Q2Q%190.91%
Revenue 1Y (TTM)9.05%
Revenue growth 3Y1.84%
Revenue growth 5Y-0.8%
Sales Q2Q%29.54%

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 9.07% yearly.
  • Based on estimates for the next years, MRL will show a quite strong growth in Revenue. The Revenue will grow by 15.35% on average per year.
EPS Next Y15.01%
EPS Next 2Y13.12%
EPS Next 3Y7.36%
EPS Next 5Y9.07%
Revenue Next Year11.03%
Revenue Next 2Y9.24%
Revenue Next 3Y9.55%
Revenue Next 5Y15.35%

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 200M 400M 600M 800M 1B
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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1

4. MRL.LS Valuation Analysis

4.1 Price/Earnings Ratio

  • The Price/Earnings ratio is 25.64, which means the current valuation is very expensive for MRL.
  • 62.79% of the companies in the same industry are cheaper than MRL, based on the Price/Earnings ratio.
  • MRL is valuated at similar levels of the S&P average when we compare the Price/Earnings ratio to 25.23, which is the current average of the S&P500 Index.
  • The Price/Forward Earnings ratio is 20.04, which indicates a rather expensive current valuation of MRL.
  • MRL's Price/Forward Earnings ratio is a bit more expensive when compared to the industry. MRL is more expensive than 79.07% of the companies in the same industry.
  • The average S&P500 Price/Forward Earnings ratio is at 23.28. MRL is around the same levels.
Industry RankSector Rank
PE 25.64
Fwd PE 20.04
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

  • 62.79% of the companies in the same industry are cheaper than MRL, based on the Enterprise Value to EBITDA ratio.
  • MRL's Price/Free Cash Flow ratio is a bit more expensive when compared to the industry. MRL is more expensive than 65.12% of the companies in the same industry.
Industry RankSector Rank
P/FCF 19.99
EV/EBITDA 31.78
MRL.LS Per share dataMRL.LS EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 5 10

4.3 Compensation for Growth

  • The PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a correct valuation of the company.
  • The decent profitability rating of MRL may justify a higher PE ratio.
PEG (NY)1.71
PEG (5Y)N/A
EPS Next 2Y13.12%
EPS Next 3Y7.36%

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5

5. MRL.LS Dividend Analysis

5.1 Amount

  • With a Yearly Dividend Yield of 2.56%, MRL has a reasonable but not impressive dividend return.
  • Compared to an average industry Dividend Yield of 5.40, MRL is paying slightly less dividend.
  • Compared to an average S&P500 Dividend Yield of 1.89, MRL pays a bit more dividend than the S&P500 average.
Industry RankSector Rank
Dividend Yield 2.56%

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
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.
  • The dividend of MRL is growing around the same rate as the earnings are growing. If this keeps up the dividend growth is sustainable.
DP16.22%
EPS Next 2Y13.12%
EPS Next 3Y7.36%
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 (3/20/2026, 7:00:00 PM)

14.36

-0.12 (-0.83%)

Chartmill FA Rating
GICS SectorReal Estate
GICS IndustryGroupEquity Real Estate Investment Trusts (REITs)
GICS IndustryDiversified REITs
Earnings (Last)02-27
Earnings (Next)05-14
Inst Owners36.99%
Inst Owner ChangeN/A
Ins Owners0.28%
Ins Owner ChangeN/A
Market Cap8.10B
Revenue(TTM)539.41M
Net Income(TTM)760.16M
Analysts84.62
Price Target15.41 (7.31%)
Short Float %N/A
Short RatioN/A
Dividend
Industry RankSector Rank
Dividend Yield 2.56%
Yearly Dividend0.44
Dividend Growth(5Y)8.36%
DP16.22%
Div Incr Years0
Div Non Decr Years0
Ex-DateN/A
Surprises & Revisions
EPS beat(2)N/A
Avg EPS beat(2)N/A
Min EPS beat(2)N/A
Max EPS beat(2)N/A
EPS beat(4)N/A
Avg EPS beat(4)N/A
Min EPS beat(4)N/A
Max EPS beat(4)N/A
EPS beat(8)N/A
Avg EPS beat(8)N/A
EPS beat(12)N/A
Avg EPS beat(12)N/A
EPS beat(16)N/A
Avg EPS beat(16)N/A
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)-0.02%
PT rev (3m)-0.33%
EPS NQ rev (1m)0%
EPS NQ rev (3m)0%
EPS NY rev (1m)24.86%
EPS NY rev (3m)24.7%
Revenue NQ rev (1m)4.91%
Revenue NQ rev (3m)4.91%
Revenue NY rev (1m)0.79%
Revenue NY rev (3m)0.79%
Valuation
Industry RankSector Rank
PE 25.64
Fwd PE 20.04
P/S 15.01
P/FCF 19.99
P/OCF 19.48
P/B 1
P/tB 1
EV/EBITDA 31.78
EPS(TTM)0.56
EY3.9%
EPS(NY)0.72
Fwd EY4.99%
FCF(TTM)0.72
FCFY5%
OCF(TTM)0.74
OCFY5.13%
SpS0.96
BVpS14.32
TBVpS14.32
PEG (NY)1.71
PEG (5Y)N/A
Graham Number13.43
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 1.26
F-Score7
WACC5.68%
ROIC/WACC0.39
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)-8.2%
EPS 3Y-19.91%
EPS 5Y-14.43%
EPS Q2Q%190.91%
EPS Next Y15.01%
EPS Next 2Y13.12%
EPS Next 3Y7.36%
EPS Next 5Y9.07%
Revenue 1Y (TTM)9.05%
Revenue growth 3Y1.84%
Revenue growth 5Y-0.8%
Sales Q2Q%29.54%
Revenue Next Year11.03%
Revenue Next 2Y9.24%
Revenue Next 3Y9.55%
Revenue Next 5Y15.35%
EBIT growth 1Y1.49%
EBIT growth 3Y6.58%
EBIT growth 5Y2.85%
EBIT Next Year-19%
EBIT Next 3Y3.24%
EBIT Next 5Y7.82%
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.


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 grow by 15.01% in the next year.