Mercialys is one of France’s leading real estate companies, focused exclusively on shopping centers and high-street retail assets. More Details
Good value with proven track record and pays a dividend.
Share Price & News
How has Mercialys's share price performed over time and what events caused price changes?
Latest Share Price and Events
Stable Share Price: MERY's share price has been volatile over the past 3 months.
7 Day Return
1 Year Return
Return vs Industry: MERY underperformed the French REITs industry which returned -40.4% over the past year.
Return vs Market: MERY underperformed the French Market which returned -6.2% over the past year.
Price Volatility Vs. Market
How volatile is Mercialys's share price compared to the market and industry in the last 5 years?
Simply Wall St News
1 month ago | Simply Wall StWhat Kind Of Shareholders Own Mercialys (EPA:MERY)?
2 months ago | Simply Wall StMercialys' (EPA:MERY) Stock Price Has Reduced65% In The Past Five Years
4 months ago | Simply Wall StWhat Kind Of Shareholders Own Mercialys (EPA:MERY)?
Is Mercialys undervalued compared to its fair value and its price relative to the market?
Undervalued compared to fair value
Share Price vs. Fair Value
Below Fair Value: MERY (€4.43) is trading below our estimate of fair value (€23.11)
Significantly Below Fair Value: MERY is trading below fair value by more than 20%.
Price To Earnings Ratio
PE vs Industry: MERY is good value based on its PE Ratio (4.7x) compared to the FR REITs industry average (8.3x).
PE vs Market: MERY is good value based on its PE Ratio (4.7x) compared to the French market (18.3x).
Price to Earnings Growth Ratio
PEG Ratio: MERY's earnings are forecast to decline next year, so we can't calculate its PEG ratio.
Price to Book Ratio
PB vs Industry: MERY's PB Ratio (0.6x) is in line with the FR REITs industry average.
How is Mercialys forecast to perform in the next 1 to 3 years based on estimates from 4 analysts?
Forecasted annual earnings growth
Earnings and Revenue Growth Forecasts
Analyst Future Growth Forecasts
Earnings vs Savings Rate: MERY's earnings are forecast to decline over the next 3 years (-0.2% per year).
Earnings vs Market: MERY's earnings are forecast to decline over the next 3 years (-0.2% per year).
High Growth Earnings: MERY's earnings are forecast to decline over the next 3 years.
Revenue vs Market: MERY's revenue (1.6% per year) is forecast to grow slower than the French market (6.7% per year).
High Growth Revenue: MERY's revenue (1.6% per year) is forecast to grow slower than 20% per year.
Earnings per Share Growth Forecasts
Future Return on Equity
Future ROE: MERY's Return on Equity is forecast to be low in 3 years time (18.2%).
How has Mercialys performed over the past 5 years?
Historical annual earnings growth
Earnings and Revenue History
Quality Earnings: MERY has high quality earnings.
Growing Profit Margin: MERY's current net profit margins (45.4%) are higher than last year (38.8%).
Past Earnings Growth Analysis
Earnings Trend: MERY's earnings have declined by 2.5% per year over the past 5 years.
Accelerating Growth: MERY's earnings growth over the past year (15.6%) exceeds its 5-year average (-2.5% per year).
Earnings vs Industry: MERY earnings growth over the past year (15.6%) exceeded the REITs industry 5.7%.
Return on Equity
High ROE: MERY's Return on Equity (11.2%) is considered low.
How is Mercialys's financial position?
Financial Position Analysis
Short Term Liabilities: MERY's short term assets (€272.3M) do not cover its short term liabilities (€447.3M).
Long Term Liabilities: MERY's short term assets (€272.3M) do not cover its long term liabilities (€1.3B).
Debt to Equity History and Analysis
Debt Level: MERY's debt to equity ratio (192.7%) is considered high.
Reducing Debt: MERY's debt to equity ratio has increased from 139.7% to 192.7% over the past 5 years.
Debt Coverage: MERY's debt is not well covered by operating cash flow (7.9%).
Interest Coverage: MERY's interest payments on its debt are well covered by EBIT (4.6x coverage).
What is Mercialys's current dividend yield, its reliability and sustainability?
Current Dividend Yield
Dividend Yield vs Market
Notable Dividend: MERY's dividend (21.45%) is higher than the bottom 25% of dividend payers in the French market (1.5%).
High Dividend: MERY's dividend (21.45%) is in the top 25% of dividend payers in the French market (5.18%)
Stability and Growth of Payments
Stable Dividend: MERY's dividend payments have been volatile in the past 10 years.
Growing Dividend: MERY's dividend payments have fallen over the past 10 years.
Current Payout to Shareholders
Dividend Coverage: With its reasonable payout ratio (70.1%), MERY's dividend payments are covered by earnings.
Future Payout to Shareholders
Future Dividend Coverage: MERY's dividends in 3 years are forecast to be covered by earnings (73% payout ratio).
How experienced are the management team and are they aligned to shareholders interests?
Average management tenure
Vincent Ravat (46 yo)
Mr. Vincent Ravat has been the Chief Executive Officer at Mercialys since February 13, 2019. He was Chief Operating Officer and MD of Mercialys until February 13, 2019. He joined Mercialys in January 2014 ...
CEO Compensation Analysis
Compensation vs Market: Vincent's total compensation ($USD1.23M) is above average for companies of similar size in the French market ($USD568.39K).
Compensation vs Earnings: Vincent's compensation has increased by more than 20% in the past year.
|Chief Executive Officer||1.67yrs||€1.04m||no data|
|Deputy Chief Executive Officer & CFO||6.08yrs||€435.42k||no data|
|Investor Relations Manager||no data||no data||no data|
|Head of Acquisitions & Sales||0.33yr||no data||no data|
|Human Resources Director||2.08yrs||no data||no data|
|Deputy Director-General & Executive VP||4.08yrs||no data||no data|
Experienced Management: MERY's management team is considered experienced (2.1 years average tenure).
|Non-independent Director||15.17yrs||€12.50k||no data|
|Non-independent Director||10.42yrs||€20.00k||no data|
|Independent Director||4.5yrs||€23.75k||no data|
|Independent Director||8.33yrs||€28.75k||no data|
|Independent Director||6.5yrs||€15.00k||no data|
|Independent Director||3yrs||€24.33k||no data|
|Non-Independent Director||2.92yrs||€9.25k||no data|
|Independent Director||2.5yrs||€45.00k||no data|
|Independent Director||2.33yrs||€28.18k||no data|
Experienced Board: MERY's board of directors are considered experienced (5.5 years average tenure).
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.
Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.
Mercialys's company bio, employee growth, exchange listings and data sources
- Name: Mercialys
- Ticker: MERY
- Exchange: ENXTPA
- Founded: 1999
- Industry: Retail REITs
- Sector: Real Estate
- Market Cap: €436.662m
- Shares outstanding: 91.43m
- Website: https://www.mercialys.com
Number of Employees
- 148, rue de l’Université
|Ticker||Exchange||Primary Security||Security Type||Country||Currency||Listed on|
|MERY||ENXTPA (Euronext Paris)||Yes||Ordinary Shares||FR||EUR||Oct 2005|
|M8Y||DB (Deutsche Boerse AG)||Yes||Ordinary Shares||DE||EUR||Oct 2005|
|0IQU||LSE (London Stock Exchange)||Yes||Ordinary Shares||GB||EUR||Oct 2005|
|MEIY.F||OTCPK (Pink Sheets LLC)||Yes||Ordinary Shares||US||USD||Oct 2005|
|MERYP||BATS-CHIXE (BATS 'Chi-X Europe')||Yes||Ordinary Shares||GB||EUR||Oct 2005|
Mercialys is one of France’s leading real estate companies, focused exclusively on shopping centers and high-street retail assets. At June 30, 2020, Mercialys had a portfolio of 2,111 leases, representing ...
Company Analysis and Financial Data Status
|Data||Last Updated (UTC time)|
|Company Analysis||2020/10/20 20:56|
|End of Day Share Price||2020/10/20 00:00|
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.