MERLIN Properties SOCIMI, S.A.

BME:MRL Stock Report

Market Cap: €9.4b

MERLIN Properties SOCIMI Future Growth

Future criteria checks 3/6

MERLIN Properties SOCIMI is forecast to grow earnings and revenue by 15.9% and 14.6% per annum respectively. EPS is expected to grow by 16.7% per annum. Return on equity is forecast to be 4.4% in 3 years.

Key information

15.9%

Earnings growth rate

16.73%

EPS growth rate

REITs earnings growth11.9%
Revenue growth rate14.6%
Future return on equity4.35%
Analyst coverage

Good

Last updated06 Jul 2026

Recent future growth updates

Recent updates

Narrative Update • Sep 11

Data Centers And Madrid Offices Will Unlock Future Opportunity

MERLIN Properties SOCIMI’s marginally increased price target reflects slightly improved revenue growth forecasts and a modest uptick in future P/E expectations, resulting in a new consensus fair value of €14.34. What's in the News Held an Analyst/Investor Day.
Narrative Update • Aug 27

Data Centers And Madrid Offices Will Unlock Future Opportunity

The consensus analyst price target for MERLIN Properties SOCIMI has ticked higher, primarily driven by a sharp improvement in valuation as indicated by a materially lower future P/E multiple, with fair value rising from €13.74 to €14.03. What's in the News Held Analyst/Investor Day event.
Narrative Update • Aug 11

Merlin Properties Will Embrace the Digital Age with Data Center Expansion

Summary of MERLIN Properties’ H1 2025 results: Operational Performance Organic rental growth : +3.4% Like-for-Like (LfL). High occupancy : 95.4% overall.
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New Narrative • Mar 02

Data Center Developments And Urban Trends Will Shape Positive Future Outlook

Strong market demand and strategic developments suggest improved revenue and earnings prospects in high-demand areas and logistics.

Earnings and Revenue Growth Forecasts

BME:MRL - Analysts future estimates and past financials data (EUR Millions)
DateRevenueEarningsFree Cash FlowCash from OpAvg. No. Analysts
12/31/20288461,226614N/A13
12/31/20276911,048498N/A15
12/31/2026603890441N/A15
3/31/2026581779N/AN/AN/A
12/31/2025567786411416N/A
9/30/2025536642N/AN/AN/A
6/30/2025539664323326N/A
3/31/2025517303N/AN/AN/A
12/31/2024509284316317N/A
9/30/2024492129N/AN/AN/A
6/30/202448097216221N/A
3/31/2024509-85N/AN/AN/A
12/31/2023505-83227228N/A
9/30/2023505-291N/AN/AN/A
6/30/2023503-276397398N/A
3/31/202347233N/AN/AN/A
12/31/202246341221222N/A
9/30/2022534675N/AN/AN/A
6/30/20224545288181N/A
3/31/2022512550N/AN/AN/A
12/31/2021417395161162N/A
9/30/2021462199N/AN/AN/A
6/30/2021421123232234N/A
3/31/202143873N/AN/AN/A
12/31/202044356134135N/A
9/30/2020499359N/AN/AN/A
6/30/20204843732324N/A
3/31/2020521542N/AN/AN/A
12/31/2019525564N/A295N/A
9/30/2019602666N/AN/AN/A
6/30/2019533637N/A407N/A
3/31/2019612801N/AN/AN/A
12/31/2018600855N/A254N/A
9/30/20185151,107N/AN/AN/A
6/30/20185621,159N/A218N/A
3/31/20184501,148N/AN/AN/A
12/31/20174801,100N/A696N/A
9/30/2017486803N/AN/AN/A
6/30/2017438793N/A362N/A
3/31/2017392604N/AN/AN/A
12/31/2016353583N/A-81N/A
9/30/2016309434N/AN/AN/A
6/30/2016308141N/A135N/A
3/31/201626275N/AN/AN/A
12/31/201521549N/A67N/A
9/30/2015186-93N/AN/AN/A

Analyst Future Growth Forecasts

Earnings vs Savings Rate: MRL's forecast earnings growth (15.9% per year) is above the savings rate (2.7%).

Earnings vs Market: MRL's earnings (15.9% per year) are forecast to grow faster than the Spanish market (11.3% per year).

High Growth Earnings: MRL's earnings are forecast to grow, but not significantly.

Revenue vs Market: MRL's revenue (14.6% per year) is forecast to grow faster than the Spanish market (6.7% per year).

High Growth Revenue: MRL's revenue (14.6% per year) is forecast to grow slower than 20% per year.

Earnings per Share Growth Forecasts

Future Return on Equity

Future ROE: MRL's Return on Equity is forecast to be low in 3 years time (4.4%).

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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2026/07/07 22:36
End of Day Share Price 2026/07/07 00:00
Earnings2026/03/31
Annual Earnings2025/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* Example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.

Analysis Model and Snowflake

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Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.

Analyst Sources

MERLIN Properties SOCIMI, S.A. is covered by 31 analysts. 15 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
null nullBanco de Sabadell. S.A.
José Francisco CravoBanco Santander
Mariano Miguel HidalgoBanco Santander