MERLIN Properties SOCIMI, S.A. MRL.MC
Composite 56/100; the shares have moved about 24% annualised. Names that move more contribute more risk for the same amount invested, and our composite reflects how strong the evidence for this one is right now.
Momentum ranks 41/100 — a slight mark against it.
Growth ranks 68/100 — a moderate point in its favour. Income ranks 60/100 — a slight point in its favour. Valuation ranks 58/100 — a slight point in its favour.
Momentum ranks 41/100 — a slight mark against it.
What the company does MERLIN Properties SOCIMI, S.A. is Spain’s largest listed real estate and infrastructure company, focused on office, retail, logistics and data-center assets across the Iberian Peninsula. It operates in Core and Core Plus segments and is included in major indices such as IBEX-35 and FTSE EPRA/NAREIT.
Key financials MERLIN reports ROE 9.9%, ROA 1.8%, revenue growth 14.6% and EPS growth 16.6%. Margins are strong (gross 100.0%, operating 69.8%, net 141.7%) but leverage is moderate (debt/equity 0.56, net debt/EBITDA 8.34). It yields 1.5% with a 14.6% payout ratio.
Stock health Momentum is mixed: -2.26% over 3m, +17.24% over 6m, +21.49% over 12m, and -8.92% below its 52w high. RSI(14) is 36.20, indicating oversold conditions. Sidera’s overall score is 55.8 (average quality, fairly valued).
Price vs fair value MERLIN trades at a PREMIUM of 47.00% to our fair-value estimate of 7.68 and at a discount of 20.32% to the 12-month target of 17.45. - Record data-center leasing highlighted in H1 2026 earnings call (GuruFocus.com) - Forward P/E of 28.33 vs trailing P/E of 10.03 signals growth expectations - Valuation percentile 52.6/100 sits near the median, tempering upside
Looking forward Analysts expect continued momentum from data-center expansion and logistics demand, but current multiples leave limited margin of safety versus fair value.
This is not investment advice. Sideravia provides automated, data-driven analysis for information and education only. Nothing on this page is a personal recommendation or an invitation to buy or sell any security, and it does not consider your objectives or financial situation. Assessments are generated by rules applied uniformly to every covered stock — how our scores work.
Data as of 2026-09-05, compiled from third-party sources; errors and delays are possible and figures are not warranted. Investing puts your capital at risk; past performance does not predict future results. We publish our full track record, including the calls that lost, and our conflicts of interest.