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YMRE

Meridia Real Estate III SOCIMI BME:YMRE Stock Report

Last Price

€0.78

Market Cap

€95.0m

7D

-21.7%

1Y

-34.3%

Updated

04 Oct, 2022

Data

Company Financials

Meridia Real Estate III SOCIMI Competitors

Price History & Performance

Summary of all time highs, changes and price drops for Meridia Real Estate III SOCIMI
Historical stock prices
Current Share Price€0.78
52 Week High€1.30
52 Week Low€0.78
Beta0.15
1 Month Change-20.92%
3 Month Change-35.42%
1 Year Change-34.32%
3 Year Change-29.55%
5 Year Changen/a
Change since IPO-25.48%

Recent News & Updates

Shareholder Returns

YMREES REITsES Market
7D-21.7%3.3%2.8%
1Y-34.3%-13.2%-12.9%

Return vs Industry: YMRE underperformed the Spanish REITs industry which returned -13.6% over the past year.

Return vs Market: YMRE underperformed the Spanish Market which returned -14.2% over the past year.

Price Volatility

Is YMRE's price volatile compared to industry and market?
YMRE volatility
YMRE Average Weekly Movement10.8%
REITs Industry Average Movement0.8%
Market Average Movement3.5%
10% most volatile stocks in ES Market6.3%
10% least volatile stocks in ES Market0.5%

Stable Share Price: YMRE is more volatile than 90% of Spanish stocks over the past 3 months, typically moving +/- 11% a week.

Volatility Over Time: YMRE's weekly volatility (11%) has been stable over the past year, but is still higher than 75% of Spanish stocks.

About the Company

FoundedEmployeesCEOWebsite
n/a3Javier Faus Santasusana

Meridia Real Estate III SOCIMI Fundamentals Summary

How do Meridia Real Estate III SOCIMI's earnings and revenue compare to its market cap?
YMRE fundamental statistics
Market Cap€95.00m
Earnings (TTM)€54.46m
Revenue (TTM)€9.28m

1.7x

P/E Ratio

10.2x

P/S Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
YMRE income statement (TTM)
Revenue€9.28m
Cost of Revenue€351.20k
Gross Profit€8.93m
Other Expenses-€45.53m
Earnings€54.46m

Last Reported Earnings

Jun 30, 2022

Next Earnings Date

n/a

Earnings per share (EPS)0.44
Gross Margin96.21%
Net Profit Margin587.06%
Debt/Equity Ratio50.2%

How did YMRE perform over the long term?

See historical performance and comparison

Dividends

73.9%

Current Dividend Yield

-70%

Payout Ratio
We’ve recently updated our valuation analysis.

Valuation

Is YMRE undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

4/6

Valuation Score 4/6

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Below Fair Value

  • Significantly Below Fair Value

  • Analyst Forecast

Key Valuation Metric

Which metric is best to use when looking at relative valuation for YMRE?

Other financial metrics that can be useful for relative valuation.

YMRE key valuation metrics and ratios. From Price to Earnings, Price to Sales and Price to Book to Price to Earnings Growth Ratio, Enterprise Value and EBITDA.
Key Statistics
Enterprise Value/Revenue20.3x
Enterprise Value/EBITDA-24.6x
PEG Ration/a

Price to Earnings Ratio vs Peers

How does YMRE's PE Ratio compare to its peers?

YMRE PE Ratio vs Peers
The above table shows the PE ratio for YMRE vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyPEEstimated GrowthMarket Cap
Peer Average9.6x
YDOA Inversiones Doalca SOCIMI
18.5xn/a€154.2m
YURO Uro Property Holdings SOCIMI
10.9xn/a€160.2m
ARM Árima Real Estate SOCIMI
4.9x-28.6%€202.5m
COL Inmobiliaria Colonial SOCIMI
4.1x2.0%€2.7b
YMRE Meridia Real Estate III SOCIMI
1.7xn/a€95.0m

Price-To-Earnings vs Peers: YMRE is good value based on its Price-To-Earnings Ratio (1.7x) compared to the peer average (9.6x).


Price to Earnings Ratio vs Industry

How does YMRE's PE Ratio compare vs other companies in the ES REITs Industry?

Price-To-Earnings vs Industry: YMRE is good value based on its Price-To-Earnings Ratio (1.7x) compared to the Spanish REITs industry average (23.2x)


Price to Earnings Ratio vs Fair Ratio

What is YMRE's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

YMRE PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio1.7x
Fair PE Ration/a

Price-To-Earnings vs Fair Ratio: Insufficient data to calculate YMRE's Price-To-Earnings Fair Ratio for valuation analysis.


Share Price vs Fair Value

What is the Fair Price of YMRE when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: YMRE (€0.78) is trading below our estimate of fair value (€8.71)

Significantly Below Fair Value: YMRE is trading below fair value by more than 20%.


Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

Analyst Forecast: Insufficient data to show price forecast.


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Future Growth

How is Meridia Real Estate III SOCIMI forecast to perform in the next 1 to 3 years based on estimates from 0 analysts?

Future Growth Score

0/6

Future Growth Score 0/6

  • Earnings vs Savings Rate

  • Earnings vs Market

  • High Growth Earnings

  • Revenue vs Market

  • High Growth Revenue

  • Future ROE


-5.6%

Forecasted Real Estate industry annual growth in earnings

In this section we usually present revenue and earnings growth projections based on the consensus estimates of professional analysts to help investors understand the company’s ability to generate profit. But as Meridia Real Estate III SOCIMI has not provided enough past data and has no analyst forecast, its future earnings cannot be reliably calculated by extrapolating past data or using analyst predictions.

This is quite a rare situation as 97% of companies covered by SimplyWall St do have past financial data.


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  • Examine whether Meridia Real Estate III SOCIMI is trading at an attractive price based on how much it is expected to earn in the future, and relative to its industry peers and the wider market.
  • Meridia Real Estate III SOCIMI competitive advantages and company strategy can generally be found in its financial reports archived here.

Past Performance

How has Meridia Real Estate III SOCIMI performed over the past 5 years?

Past Performance Score

3/6

Past Performance Score 3/6

  • Quality Earnings

  • Growing Profit Margin

  • Earnings Trend

  • Accelerating Growth

  • Earnings vs Industry

  • High ROE


71.5%

Historical annual earnings growth

Earnings and Revenue History

Quality Earnings: YMRE has a large one-off gain of €71.4M impacting its June 30 2022 financial results.

Growing Profit Margin: YMRE became profitable in the past.


Past Earnings Growth Analysis

Earnings Trend: YMRE has become profitable over the past 5 years, growing earnings by 71.5% per year.

Accelerating Growth: YMRE has become profitable in the last year, making the earnings growth rate difficult to compare to its 5-year average.

Earnings vs Industry: YMRE has become profitable in the last year, making it difficult to compare its past year earnings growth to the REITs industry (58.6%).


Return on Equity

High ROE: YMRE's Return on Equity (24%) is considered high.


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Financial Health

How is Meridia Real Estate III SOCIMI's financial position?

Financial Health Score

2/6

Financial Health Score 2/6

  • Short Term Liabilities

  • Long Term Liabilities

  • Debt Level

  • Reducing Debt

  • Debt Coverage

  • Interest Coverage

Financial Position Analysis

Short Term Liabilities: YMRE's short term assets (€49.6M) exceed its short term liabilities (€34.6M).

Long Term Liabilities: YMRE's short term assets (€49.6M) do not cover its long term liabilities (€126.2M).


Debt to Equity History and Analysis

Debt Level: YMRE's net debt to equity ratio (41%) is considered high.

Reducing Debt: YMRE's debt to equity ratio has reduced from 141.2% to 50.2% over the past 5 years.

Debt Coverage: YMRE's operating cash flow is negative, therefore debt is not well covered.

Interest Coverage: Insufficient data to determine if YMRE's interest payments on its debt are well covered by EBIT.


Balance Sheet


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Dividend

What is Meridia Real Estate III SOCIMI current dividend yield, its reliability and sustainability?

Dividend Score

2/6

Dividend Score 2/6

  • Notable Dividend

  • High Dividend

  • Stable Dividend

  • Growing Dividend

  • Earnings Coverage

  • Cash Flow Coverage


73.91%

Current Dividend Yield

Dividend Yield vs Market

Meridia Real Estate III SOCIMI Dividend Yield vs Market
How does Meridia Real Estate III SOCIMI dividend yield compare to the market?
SegmentDividend Yield
Company (Meridia Real Estate III SOCIMI)73.9%
Market Bottom 25% (ES)2.3%
Market Top 25% (ES)6.2%
Industry Average (REITs)3.6%
Analyst forecast in 3 Years (Meridia Real Estate III SOCIMI)n/a

Notable Dividend: YMRE's dividend (73.91%) is higher than the bottom 25% of dividend payers in the Spanish market (2.28%).

High Dividend: YMRE's dividend (73.91%) is in the top 25% of dividend payers in the Spanish market (6.21%)


Stability and Growth of Payments

Stable Dividend: Too early to tell whether YMRE's dividend payments have been stable as they only just started paying a dividend.

Growing Dividend: Too early to tell if YMRE's dividend payments are increasing as they only just started paying a dividend.


Earnings Payout to Shareholders

Earnings Coverage: YMRE is paying a dividend but the company is unprofitable.


Cash Payout to Shareholders

Cash Flow Coverage: Insufficient data to calculate cash payout ratio to determine if its dividend payments are covered by cash flows.


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Management

How experienced are the management team and are they aligned to shareholders interests?


CEO

Javier Faus Santasusana

no data

Tenure

Mr. Javier Faus Santasusana serves as President of the Board, President and CEO at Meridia Real Estate III, SOCIMI, S.A.


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Ownership Breakdown

What is the ownership structure of YMRE?
Owner TypeNumber of SharesOwnership Percentage

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.

Company Information

Meridia Real Estate III, SOCIMI, S.A.'s employee growth, exchange listings and data sources


Key Information

  • Name: Meridia Real Estate III, SOCIMI, S.A.
  • Ticker: YMRE
  • Exchange: BME
  • Founded: NaN
  • Industry: Office REITs
  • Sector: Real Estate
  • Implied Market Cap: €94.996m
  • Shares outstanding: 122.58m

Number of Employees


Location

  • Meridia Real Estate III, SOCIMI, S.A.
  • Avda. Diagonal 640, Planta 5
  • Barcelona
  • Catalonia
  • 8017
  • Spain


Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
YMREBME (Bolsas y Mercados Espanoles)YesShare CapitalESEURDec 2017

Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2022/10/04 00:00
End of Day Share Price2022/10/04 00:00
Earnings2022/06/30
Annual Earnings2021/12/31


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 here.