Mercialys is one of the top real estate companies in France and Europe, specializing in the enhancement, transformation and promotion of shopping centers.
Undervalued established dividend payer.
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: MEIY.F's share price has been volatile over the past 3 months.
7 Day Return
1 Year Return
Return vs Industry: MEIY.F underperformed the US REITs industry which returned -20.1% over the past year.
Return vs Market: MEIY.F underperformed the US Market which returned -10.4% 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
No news available
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: MEIY.F ($6.87) is trading below our estimate of fair value ($17.33)
Significantly Below Fair Value: MEIY.F is trading below fair value by more than 20%.
Price To Earnings Ratio
PE vs Industry: MEIY.F is good value based on its PE Ratio (6.6x) compared to the REITs industry average (24.3x).
PE vs Market: MEIY.F is good value based on its PE Ratio (6.6x) compared to the US market (13.1x).
Price to Earnings Growth Ratio
PEG Ratio: MEIY.F is poor value based on its PEG Ratio (7.8x)
Price to Book Ratio
PB vs Industry: MEIY.F is good value based on its PB Ratio (0.9x) compared to the US REITs industry average (1.3x).
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: MEIY.F's forecast earnings growth (0.9% per year) is below the savings rate (1.7%).
Earnings vs Market: MEIY.F's earnings (0.9% per year) are forecast to grow slower than the US market (12.2% per year).
High Growth Earnings: MEIY.F's earnings are forecast to grow, but not significantly.
Revenue vs Market: MEIY.F's revenue is expected to decline over the next 3 years (-0.4% per year).
High Growth Revenue: MEIY.F's revenue is forecast to decline over the next 3 years (-0.4% per year).
Earnings per Share Growth Forecasts
Future Return on Equity
Future ROE: MEIY.F's Return on Equity is forecast to be low in 3 years time (14%).
How has Mercialys performed over the past 5 years?
Historical annual earnings growth
Earnings and Revenue History
Quality Earnings: MEIY.F has high quality earnings.
Growing Profit Margin: MEIY.F's current net profit margins (47.1%) are higher than last year (43.2%).
Past Earnings Growth Analysis
Earnings Trend: MEIY.F's earnings have declined by -7.3% per year over the past 5 years.
Accelerating Growth: MEIY.F's earnings growth over the past year (11.7%) exceeds its 5-year average (-7.3% per year).
Earnings vs Industry: MEIY.F earnings growth over the past year (11.7%) exceeded the REITs industry 5%.
Return on Equity
High ROE: MEIY.F's Return on Equity (11.5%) is considered low.
How is Mercialys's financial position? (This company is analysed differently as a bank or financial institution)
Financial Position Analysis
Debt to Equity History and Analysis
Inventory Level: MEIY.F has a high level of physical assets or inventory.
Debt Coverage by Assets: MEIY.F's debt is not covered by short term assets (assets are 0.1x debt).
Financial Institutions Analysis
Asset Level: MEIY.F's level of assets compared to its equity is low.
Allowance for Bad Loans: Insufficient data to determine if MEIY.F has a sufficient allowance for bad loans.
Low Risk Liabilities: MEIY.F reports no customer deposits, loans are made up entirely of externally borrowed funds.
Loan Level: Insufficient data to determine if MEIY.F has an acceptable proportion of non-loan assets held.
Low Risk Deposits: MEIY.F has advanced significantly more loans than the customer deposits it holds.
Level of Bad Loans: Insufficient data to determine if MEIY.F has an appropriate level of bad loans.
What is Mercialys's current dividend yield, its reliability and sustainability?
Current Dividend Yield
Dividend Yield vs Market
Notable Dividend: MEIY.F's dividend (17.72%) is higher than the bottom 25% of dividend payers in the US market (1.95%).
High Dividend: MEIY.F's dividend (17.72%) is in the top 25% of dividend payers in the US market (5.4%)
Stability and Growth of Payments
Stable Dividend: MEIY.F's dividend payments have been volatile in the past 10 years.
Growing Dividend: MEIY.F's dividend payments have increased over the past 10 years.
Current Payout to Shareholders
Dividend Coverage: At its current payout ratio (80.5%), MEIY.F's payments are covered by earnings.
Future Payout to Shareholders
Future Dividend Coverage: MEIY.F's dividends in 3 years are forecast to be thoroughly covered by earnings (1% payout ratio).
How experienced are the management team and are they aligned to shareholders interests?
Average management tenure
Vincent Ravat (45yo)
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 ($USD776.04K) is below average for companies of similar size in the US market ($USD3.17M).
Compensation vs Earnings: Vincent's compensation has been consistent with company performance over the past year.
|Chief Executive Officer||1yr||€703.40k||no data|
|Deputy CEO||5.42yrs||no data||no data|
|Investor Relations Manager||no data||no data||no data|
|Human Resources Director||1.42yrs||no data||no data|
|Deputy Director-General & Executive VP||3.42yrs||no data||no data|
|Director of Asset Management||4.17yrs||no data||no data|
Experienced Management: MEIY.F's management team is considered experienced (3.4 years average tenure).
|Non-independent Director||14.58yrs||€12.50k||no data|
|Non-independent Director||9.83yrs||€20.00k||no data|
|Independent Director||3.83yrs||€24.09k||no data|
|Independent Director||7.67yrs||€25.95k||no data|
|Independent Director||5.83yrs||€14.09k||no data|
|Independent Director||5.83yrs||€23.18k||no data|
|Independent Director||2.42yrs||€24.20k||no data|
|Independent Director||1.83yrs||€25.64k||no data|
|Independent Director||1.67yrs||€12.65k||no data|
Experienced Board: MEIY.F's board of directors are considered experienced (5.8 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: MEIY.F
- Exchange: OTCPK
- Founded: 1999
- Industry: Retail REITs
- Sector: Real Estate
- Market Cap: €595.567m
- Listing Market Cap: €657.068m
- Shares outstanding: 91.77m
- 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 the top real estate companies in France and Europe, specializing in the enhancement, transformation and promotion of shopping centers. Mercialys owns a real estate portfolio of 55 sites, with 873,000 sq.m of retail space throughout metropolitan France and some of the French overseas territories. The company develops a global vision for its sites so they can constantly evolve, anticipating changes in consumer buying behavior. It is rolling out an ambitious development strategy around three key areas: deploying precision merchandising, with an approach tailored to the specific features of each catchment area, setting up service platforms in line with customers’ needs under one dedicated cross-business identity “G La Galerie”, and adopting a modular layout design for centers, opening up opportunities for new forms of retail. As outstanding partners for day-to-day life, its shopping centers are focused on proximity, innovation and local engagement, on a human scale. They represent a different way of looking at retail, with agility and pragmatism, creating value for all the stakeholders involved.
Company Analysis and Financial Data Status
|Data||Last Updated (UTC time)|
|Company Analysis||2020/03/31 03:31|
|End of Day Share Price||2020/03/19 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.