Merlin Properties

Valuation Analysis

About the Company

Merlin Properties en bref

Merlin Properties (MRL.MC) is currently trading at 15,06 € with a market capitalization of 8,1 Md €. The trailing P/E ratio stands at 10.24x, with a forward P/E of 26.26x. The 52-week range spans from 11,81 € to 15,92 €; the current price is 5.4% below the yearly high. Year-over-year revenue growth stands at +14.6%. The net profit margin stands at 141.68%.

💰 Dividende

Merlin Properties pays an annual dividend of 0,22 € per share, representing a yield of 1.46%. The payout ratio stands at 14.63%.

📊 Avis des analystes

21 analystes évaluent Merlin Properties (MRL.MC) au consensus : Achat Fort. L'objectif de cours moyen est de 17,48 €, soit un potentiel de +16.1% par rapport au cours actuel. La fourchette des objectifs de cours des analystes va de 13,90 € à 20,85 €.

Merlin Properties : la thèse d'investissement en détail

Merlin Properties (MRL.MC) operates in the Real Estate — specifically REIT - Office — and is headquartered in Spain. Below is a structured read of the investment case built directly from the latest fundamentals, valuation multiples, analyst positioning and smart-money flows. Each section translates raw numbers into the investment logic they imply, so you can decide whether the risk/reward fits your portfolio.

Le scénario haussier

Revenue is growing at a healthy 14.6% pace year-over-year, suggesting the business model continues to find new customers and pricing power. With a gross margin near 100%, the company sits in the top tier of its industry — these are the kinds of structural margins that protect earnings during downturns. Free cash flow is positive and net margins stand at 141.68%, meaning reported earnings translate into real cash that can fund buybacks, dividends or strategic acquisitions.

Valorisation en contexte

At a PEG of 3.1, investors are paying more than three times the growth rate for each unit of earnings — that pricing assumes growth not only continues but accelerates from here. The EV/EBITDA multiple of 29.85x reflects rich expectations — historically, multiples at this level have proven hard to maintain for more than a few quarters.

Thèse d'investissement : forces et faiblesses

Aperçu technique

Price shows short-term weakness (below 50d MA) but is still in a longer-term uptrend (above 200d MA).

Profil de risque

The data points to relatively defensive market behavior.

Trading Data

💵 Dividend Info

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