Mercialys SA

BATS-CHIXE:MERYP Stock Report

Market Cap: €991.5m

Mercialys Valuation

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

Valuation Score

5/6

Valuation Score 5/6

  • Below Fair Value

  • Significantly Below Fair Value

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Analyst Forecast

Share Price vs Fair Value

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

Below Fair Value: MERYP (€10.54) is trading below our estimate of fair value (€16.7)

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

Key Valuation Metric

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

Key metric: As MERYP is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for MERYP. This is calculated by dividing MERYP's market cap by their current earnings.
What is MERYP's PE Ratio?
PE Ratio16.8x
Earnings€59.18m
Market Cap€991.49m

Price to Earnings Ratio vs Peers

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

The above table shows the PE ratio for MERYP vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average64.9x
NRR NewRiver REIT
95.4x33.0%UK£286.3m
CAL Capital & Regional
69.8x47.8%UK£146.5m
SHC Shaftesbury Capital
64.5x28.4%UK£2.4b
UKCM UK Commercial Property REIT
29.9xn/aUK£947.3m
MERYP Mercialys
16.8x13.5%€991.5m

Price-To-Earnings vs Peers: MERYP is good value based on its Price-To-Earnings Ratio (16.8x) compared to the peer average (64.9x).

Price to Earnings Ratio vs Industry

How does MERYP's PE Ratio compare vs other companies in the European Retail REITs Industry?

0 CompaniesPrice / EarningsEstimated GrowthMarket Cap
No. of Companies5PE01632486480+
0 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: MERYP is good value based on its Price-To-Earnings Ratio (16.8x) compared to the European Retail REITs industry average (21.6x).

Price to Earnings Ratio vs Fair Ratio

What is MERYP'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.

MERYP PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio16.8x
Fair PE Ration/a

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

Analyst Price Targets

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

The above table shows the analyst MERYP forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
Current€10.54
€12.92
+22.6%
6.1%€14.50€12.50n/a5
Nov ’25€10.72
€12.92
+20.6%
6.1%€14.50€12.50n/a5
Oct ’25€12.12
€12.58
+3.8%
4.1%€13.50€11.90n/a5
Sep ’25n/a
€12.40
0%
6.8%€13.50€11.10n/a5
Aug ’25n/a
€12.40
0%
6.8%€13.50€11.10n/a5
Jul ’25n/a
€11.45
0%
3.1%€12.00€11.10n/a4
Jun ’25€11.40
€11.70
+2.6%
3.1%€12.10€11.20n/a4
May ’25n/a
€11.70
0%
3.1%€12.10€11.20n/a4
Apr ’25n/a
€11.70
0%
3.1%€12.10€11.20n/a4
Mar ’25€10.28
€11.45
+11.4%
3.7%€12.00€10.80n/a4
Feb ’25n/a
€11.46
0%
3.3%€12.00€10.80n/a5
Jan ’25n/a
€10.50
0%
13.0%€12.00€8.50n/a4
Dec ’24n/a
€10.50
0%
13.0%€12.00€8.50n/a4
Nov ’24n/a
€11.17
0%
7.6%€12.00€10.00€10.723
Oct ’24n/a
€11.17
0%
7.6%€12.00€10.00€12.123
Sep ’24n/a
€10.57
0%
16.0%€12.00€8.20n/a3
Aug ’24n/a
€10.57
0%
16.0%€12.00€8.20n/a3
Jul ’24n/a
€9.85
0%
16.8%€11.50€8.20n/a2
Jun ’24€7.49
€10.85
+44.9%
6.0%€11.50€10.20€11.402
May ’24€8.85
€10.85
+22.7%
6.0%€11.50€10.20n/a2
Apr ’24n/a
€11.35
0%
1.3%€11.50€11.20n/a2
Mar ’24€10.38
€11.35
+9.3%
1.3%€11.50€11.20€10.282
Feb ’24€10.19
€10.75
+5.5%
7.0%€11.50€10.00n/a2
Jan ’24n/a
€10.75
0%
7.0%€11.50€10.00n/a2
Dec ’23€9.26
€10.75
+16.2%
7.0%€11.50€10.00n/a2
Nov ’23n/a
€10.75
0%
7.0%€11.50€10.00n/a2

Analyst Forecast: Target price is more than 20% higher than the current share price and analysts are within a statistically confident range of agreement.

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