Full history for every metric is available with a Kvantra account
Key financial summary
Financials in EUR| 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM | 2026E | ||
|---|---|---|---|---|---|---|---|---|---|
| Total revenue | €m | 446 | 383 | 439 | 505 | 503 | 550 | 580 | 611 |
| Operating profit | €m | 388 | 923 | ||||||
| Net profit | €m | 56 | 512 | 263 | -83 | 284 | 786 | 852 | 298 |
| EPS reported | € | 1.40 | 1.41 | ||||||
| Operating cashflow per share | € | 0.74 | 0.00 | ||||||
| Capex per share | € | 0.02 | 0.00 | ||||||
| FCF per share | € | 0.72 | 0.00 | ||||||
| Free cash flow | €m | 405 | 0 | ||||||
| Net debt | €m | 3,847 | 3,427 | ||||||
| Book value equity | €m | 8,074 | 9,287 | ||||||
| Book value per share | € | 14.35 | 14.98 | ||||||
| Number of shares | m | 562.7 | 620 | ||||||
| DPS (TTM paid) | € | 0.22 | 0.22 |
Financial summary
Financials in EUR| 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM | 2026E | ||
|---|---|---|---|---|---|---|---|---|---|
| Value | |||||||||
| P/E TTM | x | 8.88 | 8.50 | ||||||
| P/B LTM | x | 0.87 | 0.80 | ||||||
| P/S LTM | x | 12.72 | 12.81 | ||||||
| P/FCF LTM | x | 17.27 | 0.00 | ||||||
| EV/EBITDA LTM | x | 11.37 | 10.64 | ||||||
| EV/Sales LTM | x | 19.73 | 18.72 | ||||||
| Earnings Yield LTM | % | 11.26% | 11.76% | ||||||
| FCF Yield | % | 5.79% | 0.00% | ||||||
| Quality | |||||||||
| ROE | % | 9.74% | 9.95% | ||||||
| ROIC | % | 2.68% | 5.60% | ||||||
| Operating margin | % | 70.49% | 159.18% | ||||||
| Gross margin | % | 85.09% | 85.33% | ||||||
| FCF/Sales | % | 73.66% | 0.00% | ||||||
| Growth and momentum | |||||||||
| EPS Growth YoY | % | +150.00% | +18.49% | ||||||
| Sales Growth YoY | % | +9.31% | +11.34% | ||||||
| Net Income Growth YoY | % | +177.04% | +28.36% | ||||||
| FCF Growth | % | +36.23% | - | ||||||
| Operating Profit Growth | % | +3.20% | +137.09% | ||||||
| Dividend and capital structure | |||||||||
| Dividend Yield | % | 1.76% | 1.79% | ||||||
| Dividend Growth | % | -42.82% | -42.82% | ||||||
| Payout Ratio | % | 15.65% | 0.00% | ||||||
| FCF/Debt | x | 0.08 | 0.00 | ||||||
| Net Debt/EBITDA | x | 4.04 | 3.37 | ||||||
| EBIT/Net interest | x | 2.85 | 8.27 | ||||||
| Net debt/market cap | % | 55.00% | 46.17% | ||||||
| Net debt/Equity | x | 0.48 | 0.37 | ||||||
| Gross debt/equity | x | 0.63 | 0.54 | ||||||
ETFs that hold MERLIN Properties SOCIMI
| Fund | Ticker | Position# | Weight |
|---|---|---|---|
| Xtrackers FTSE Developed Europe Real Estate UCITS ETF 1C | D5BK.DE | 9 | 2.82% |
| iShares European Property Yield UCITS ETF | IPRE.DE | 7 | 4.51% |
| State Street SPDR FTSE EPRA Europe ex UK Real Estate UCITS ETF | ZPRP.DE | 7 | 4.09% |
| iShares STOXX Europe 600 Real Estate UCITS ETF (DE) | EXI5.DE | 9 | 3.68% |
Funds with MERLIN Properties SOCIMI among their ten largest holdings, largest fund first.
Ratings
Based on consensus from external analysts. Not Kvantra's opinion.
Company overview
MERLIN Properties SOCIMI, SA stands as a leading real estate firm traded on Spain's benchmark IBEX-35 stock index. Structured as a publicly listed SOCIMI, its core business involves the strategic acquisition, proactive management, operational oversight, and targeted divestment of premium commercial properties. These assets, categorized within the Core and Core Plus investment segments, are predominantly situated in Spain, with a more limited presence in Portugal. The company specializes in real estate across the office, retail, and logistics sectors.
Similar companies
For informational purposes only. Kvantra provides data and quantitative analysis, not investment advice. KvantraRank is a mechanical model output. Analyst price targets and ratings are sourced from third parties and are not Kvantra recommendations. Past performance does not guarantee future results; all investments carry risk.
MERLIN Properties SOCIMI, S.A. (MRL.MC)
| Fund | Ticker | Position# | Weight |
|---|---|---|---|
| Xtrackers FTSE Developed Europe Real Estate UCITS ETF 1C | D5BK.DE | 9 | 2.82% |
| iShares European Property Yield UCITS ETF | IPRE.DE | 7 | 4.51% |
| State Street SPDR FTSE EPRA Europe ex UK Real Estate UCITS ETF | ZPRP.DE | 7 | 4.09% |
| iShares STOXX Europe 600 Real Estate UCITS ETF (DE) | EXI5.DE | 9 | 3.68% |
Funds with MERLIN Properties SOCIMI among their ten largest holdings, largest fund first.
Based on consensus from external analysts. Not Kvantra's opinion.
MERLIN Properties SOCIMI, SA stands as a leading real estate firm traded on Spain's benchmark IBEX-35 stock index. Structured as a publicly listed SOCIMI, its core business involves the strategic acquisition, proactive management, operational oversight, and targeted divestment of premium commercial properties. These assets, categorized within the Core and Core Plus investment segments, are predominantly situated in Spain, with a more limited presence in Portugal. The company specializes in real estate across the office, retail, and logistics sectors.
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