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Spanish (IBEX) Real Estate Sector Analysis
UpdatedMay 22, 2026
DataAggregated Company Financials
Companies106
- 7D-0.6%
- 3M3.0%
- 1Y12.6%
- YTD8.3%
Over the last 7 days, the Real Estate industry has remained flat, although notably Colonial SFL Socimi S. A gained 3.1%. The past year has been better, since the industry has gained 13% in that time. As for the next few years, earnings are expected to grow by 9.6% per annum.
Sector Valuation and Performance
Has the Spanish Real Estate Sector valuation changed over the past few years?
| Date | Market Cap | Revenue | Earnings | PE | Absolute PE | PS |
|---|---|---|---|---|---|---|
| Sat, 23 May 2026 | €35.5b | €5.1b | €2.5b | 16.2x | 14.1x | 7x |
| Mon, 20 Apr 2026 | €36.0b | €5.1b | €2.5b | 16.3x | 14.7x | 7.1x |
| Wed, 18 Mar 2026 | €33.9b | €5.1b | €2.4b | 19.5x | 14x | 6.7x |
| Fri, 13 Feb 2026 | €32.9b | €4.7b | €2.2b | 21.2x | 14.8x | 7x |
| Sun, 11 Jan 2026 | €32.0b | €4.7b | €2.2b | 21.4x | 14.4x | 6.8x |
| Tue, 09 Dec 2025 | €31.2b | €4.7b | €2.2b | 21.4x | 14.1x | 6.6x |
| Thu, 06 Nov 2025 | €31.9b | €4.5b | €2.2b | 18.2x | 14.2x | 7.1x |
| Sat, 04 Oct 2025 | €31.1b | €4.4b | €2.1b | 20.7x | 14.7x | 7x |
| Mon, 01 Sep 2025 | €29.5b | €4.2b | €2.0b | 21.7x | 15.1x | 7x |
| Wed, 30 Jul 2025 | €28.9b | €4.2b | €1.6b | 21.7x | 18.2x | 7x |
| Fri, 27 Jun 2025 | €28.2b | €4.5b | €1.3b | 22.6x | 21.4x | 6.2x |
| Sun, 25 May 2025 | €28.0b | €4.6b | €1.3b | 23.6x | 21.8x | 6.1x |
| Tue, 22 Apr 2025 | €27.1b | €4.5b | €856.8m | 24.5x | 31.6x | 6x |
| Thu, 20 Mar 2025 | €27.0b | €4.5b | €939.5m | 24.2x | 28.8x | 6x |
| Sat, 15 Feb 2025 | €28.3b | €4.5b | -€82,259,130.00 | 25.9x | -343.8x | 6.3x |
| Mon, 13 Jan 2025 | €27.3b | €4.5b | -€85,179,130.00 | 25.6x | -319.9x | 6.1x |
| Wed, 11 Dec 2024 | €27.2b | €4.4b | -€88,200,512.00 | 25.7x | -308.5x | 6.3x |
| Fri, 08 Nov 2024 | €27.4b | €4.5b | -€148,737,814.00 | 24.9x | -184.3x | 6.1x |
| Sun, 06 Oct 2024 | €28.3b | €4.4b | -€224,155,810.00 | 24x | -126.1x | 6.4x |
| Tue, 03 Sep 2024 | €28.2b | €4.4b | -€216,426,361.00 | 23.8x | -130.2x | 6.4x |
| Thu, 01 Aug 2024 | €26.3b | €4.3b | -€645,569,715.00 | 26.9x | -40.7x | 6.1x |
| Sat, 29 Jun 2024 | €25.4b | €4.3b | -€869,693,306.00 | 24.4x | -29.2x | 5.9x |
| Mon, 27 May 2024 | €25.5b | €4.1b | -€911,809,190.00 | 26.1x | -27.9x | 6.1x |
| Wed, 24 Apr 2024 | €25.2b | €4.1b | -€818,695,171.00 | 24.9x | -30.8x | 6.1x |
| Fri, 22 Mar 2024 | €24.4b | €4.1b | -€802,624,538.00 | 26.3x | -30.4x | 5.9x |
| Sun, 18 Feb 2024 | €24.0b | €4.0b | -€748,454,836.00 | 27.9x | -32x | 6x |
| Tue, 16 Jan 2024 | €25.0b | €4.0b | -€695,772,489.00 | 27.7x | -35.9x | 6.2x |
| Thu, 14 Dec 2023 | €25.1b | €4.1b | -€662,035,097.00 | 26.1x | -37.9x | 6.2x |
| Sat, 11 Nov 2023 | €24.1b | €4.0b | -€641,170,224.00 | 26.2x | -37.6x | 6x |
| Mon, 09 Oct 2023 | €23.1b | €3.9b | -€576,667,697.00 | 27.9x | -40x | 5.9x |
| Wed, 06 Sep 2023 | €23.3b | €3.9b | -€508,701,531.00 | 29.2x | -45.9x | 5.9x |
| Fri, 04 Aug 2023 | €23.4b | €3.9b | -€444,083,537.00 | 27.9x | -52.7x | 6x |
| Sun, 02 Jul 2023 | €23.4b | €3.9b | €766.6m | 28.7x | 30.6x | 6x |
| Tue, 30 May 2023 | €22.5b | €3.6b | €873.2m | 20x | 25.8x | 6.3x |
Price to Earnings Ratio
25.8x
Current Industry PE
- Investors are pessimistic on the Spanish Real Estate industry, indicating that they anticipate long term growth rates will be lower than they have historically.
- The industry is trading at a PE ratio of 14.1x which is higher than its 3-year average PE of -48.0x.
- The 3-year average PS ratio of 6.3x is lower than the industry's current PS ratio of 7.0x.
Past Earnings Growth
- The earnings for companies in the Real Estate industry have grown 42% per year over the last three years.
- Revenues for these companies have grown 12% per year.
- This means that more sales are being generated by these companies overall, and subsequently their profits are increasing too.
Industry Trends
Which industries have driven the changes within the Spanish Real Estate sector?
| ES Market | 0.99% | |
| Real Estate | -0.63% | |
| Office REITs | 1.78% | |
| Residential REITs | 0.74% | |
| Industrial REITs | 0% | 0 |
| Health Care REITs | 0% | 0 |
| Retail REITs | -0.27% | |
| Hotel and Resort REITs | -0.70% | |
| REITS | -1.26% | |
| Real Estate | -2.67% | |
Industry PE
- Investors are most optimistic about the Retail REITs industry even though it's trading below its 3-year average PE ratio of 32.3x.
- It looks like they are confident that earnings will grow faster in the future than they have historically.
Forecasted Growth
- Analysts are most optimistic on the REITS industry, expecting annual earnings growth of 15% over the next 5 years.
- This is roughly in line with its past earnings growth rate.
- In contrast, the Hotel and Resort REITs industry is expected to see its earnings decline by 9.5% per year over the next few years.
Top Stock Gainers and Losers
Which companies have driven the market over the last 7 days?
| Company | Last Price | 7D | 1Y | Valuation | |
|---|---|---|---|---|---|
| MRL MERLIN Properties SOCIMI | €14.86 | 1.9% +€173.3m | 40.9% | PB1x | |
| COL Colonial SFL Socimi S. A | €5.58 | 4.1% +€136.3m | -4.9% | PB0.6x | |
| YTST Testa Residencial SOCIMI | €3.12 | 8.3% +€31.6m | -0.6% | PB0.4x | |
| CEV Compañía Española de Viviendas en Alquiler | €8.95 | 7.8% +€15.1m | 26.1% | PE7.1x | |
| YEPSA Emperador Properties SOCIMI | €9.40 | 1.1% +€12.1m | 82.5% | PB3x |