MRPR.F Stock Overview

MERLIN Properties SOCIMI, S.A. (MC:MRL) is the largest real estate company trading on the Spanish Stock Exchange. More details

MRPR.F fundamental analysis
Snowflake Score
Valuation	2/6
Future Growth	4/6
Past Performance	2/6
Financial Health	3/6
Dividends	3/6

Rewards

Price-To-Earnings ratio (20.2x) is below the REITs industry average (27.1x)

Earnings are forecast to grow 25.04% per year

Became profitable this year

Analysts in good agreement that stock price will rise by 26.6%

Risk Analysis

Debt is not well covered by operating cash flow

Shares are highly illiquid

Unstable dividend track record

Shareholders have been diluted in the past year

Community vs My Fair Value

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MERLIN Properties SOCIMI, S.A. Competitors

Essential Properties Realty Trust

NYSE:EPRT

US$6.3b

Broadstone Net Lease

NYSE:BNL

US$3.2b

W. P. Carey

NYSE:WPC

US$13.5b

Empire State Realty OP

ARCA:ESBA

US$2.0b

Price History & Performance

Summary of share price highs, lows and changes for MERLIN Properties SOCIMI
Historical stock prices
Current Share Price	€12.54
52 Week High	€13.17
52 Week Low	€9.41
Beta	1.19
1 Month Change	23.06%
3 Month Change	8.37%
1 Year Change	7.18%
3 Year Change	27.63%
5 Year Change	53.49%
Change since IPO	-4.57%

Recent updates

Shareholder Returns

	MRPR.F	US REITs	US Market
7D	14.5%	0.4%	2.2%
1Y	7.2%	1.6%	8.2%

Return vs Industry: MRPR.F exceeded the US REITs industry which returned 3.6% over the past year.

Return vs Market: MRPR.F underperformed the US Market which returned 9.3% over the past year.

Price Volatility

Is MRPR.F's price volatile compared to industry and market?
MRPR.F volatility
MRPR.F Average Weekly Movement	n/a
REITs Industry Average Movement	4.2%
Market Average Movement	7.8%
10% most volatile stocks in US Market	16.2%
10% least volatile stocks in US Market	4.1%

Stable Share Price: MRPR.F's share price has been volatile over the past 3 months compared to the US market.

Volatility Over Time: Insufficient data to determine MRPR.F's volatility change over the past year.

About the Company

Founded	Employees	CEO	Website
2014	287	Ismael Clemente Orrego	www.merlinproperties.com

MERLIN Properties SOCIMI, S.A. (MC:MRL) is the largest real estate company trading on the Spanish Stock Exchange. Specialized in the development, acquisition and management of commercial property in the Iberian region. MERLIN Properties mainly invests in offices, shopping centers, logistics facilities and data centers, within the Core and Core Plus segments, forming part of the benchmark IBEX-35, Euro STOXX 600, FTSE EPRA/NAREIT Global Real Estate, GPR Global Index, GPR-250 Index, MSCI Small Caps indices and DJSI.

MERLIN Properties SOCIMI, S.A. Fundamentals Summary

How do MERLIN Properties SOCIMI's earnings and revenue compare to its market cap?
MRPR.F fundamental statistics
Market cap	US$6.49b
Earnings (TTM)	US$321.18m
Revenue (TTM)	US$575.72m

20.2x

P/E Ratio

11.3x

P/S Ratio

Is MRPR.F overvalued?

See Fair Value and valuation analysis

Earnings & Revenue

Key profitability statistics from the latest earnings report (TTM)
MRPR.F income statement (TTM)
Revenue	€508.65m
Cost of Revenue	€0
Gross Profit	€508.65m
Other Expenses	€224.89m
Earnings	€283.76m

Last Reported Earnings

Dec 31, 2024

Next Earnings Date

May 14, 2025

Earnings per share (EPS)	0.50
Gross Margin	100.00%
Net Profit Margin	55.79%
Debt/Equity Ratio	65.9%

How did MRPR.F perform over the long term?

See historical performance and comparison

Dividends

2.0%

Current Dividend Yield

34%

Payout Ratio

Company Analysis and Financial Data Status

Data	Last Updated (UTC time)
Company Analysis	2025/05/05 08:00
End of Day Share Price	2025/05/05 00:00
Earnings	2024/12/31
Annual Earnings	2024/12/31

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.

Package	Data	Timeframe	Example US Source ^*
Company Financials	10 years	Income statement Cash flow statement Balance sheet	SEC Form 10-K SEC Form 10-Q
Analyst Consensus Estimates	+3 years	Forecast financials Analyst price targets	Analyst Research Reports Blue Matrix
Market Prices	30 years	Stock prices Dividends, Splits and Actions	ICE Market Data SEC Form S-1
Ownership	10 years	Top shareholders Insider trading	SEC Form 4 SEC Form 13D
Management	10 years	Leadership team Board of directors	SEC Form 10-K SEC Form DEF 14A
Key Developments	10 years	Company announcements	SEC Form 8-K

^* 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

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

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 40 analysts. 12 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

Analyst	Institution
Pedro Alves	Banco BPI, S.A.
Filipe Leite	Banco BPI, S.A.
Ignacio Romero	Banco de Sabadell. S.A.