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Mercialys SA/€MERY

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About Mercialys SA

Mercialys SA is a French real estate investment company specializing in the ownership, management, and transformation of retail properties. As of December 31, 2023, its portfolio comprised 2,038 leases, generating an annualized rental income of €175.5 million, with assets valued at €2.9 billion, including transfer taxes. The company was established in 2005 as a subsidiary of Groupe Casino and is headquartered in Paris, France. Mercialys operates shopping centers across metropolitan France and certain overseas territories, focusing on adapting to evolving consumer behaviors through strategic merchandising and service platforms. Its competitive strengths include a diversified tenant base and a commitment to corporate social responsibility, as evidenced by its inclusion in the Carbon Disclosure Project’s Climate A List for six consecutive years.
Ticker
€MERY
Sector
Real Estate
Primary listing
PAR
Employees
180
Headquarters
Paris, France
Website
www.mercialys.com

Mercialys SA Metrics

BasicAdvanced
€873M
42.48
€0.22
0.85
€1.00
10.70%

What the Analysts think about Mercialys SA

Analyst ratings (Buy, Hold, Sell) for Mercialys SA stock.
Analyst projections of the future price of Mercialys SA stock.

Bulls say / Bears say

Mercialys is gaining market share: footfall rose 5.4% and retailer sales 3.0% in the first nine months of 2026, both well ahead of national benchmarks. Invoiced rents grew 2.5%, with like-for-like organic growth of 2.3%. (Reuters)
Vacancy is very low, with occupancy at 98.2%, while rent collection was 97.3% at September. Positive lease reversion and a low retailer occupancy-cost ratio give the company room to raise rents without imposing an unusually heavy burden on tenants. (Mercialys)
A pre-let redevelopment pipeline offers a further source of rental growth: projects are expected to add more than €10 million in annual rents as they are delivered from 2027. Mercialys says it can phase or pause the work to match market conditions. (Mercialys, Mercialys)
Leverage leaves limited room for setbacks: S&P expects Mercialys’ debt-to-equity ratio to approach its 45% downside-rating threshold in 2027. It also assumes portfolio values will fall by about 2% over 2026–27 as interest rates weigh on valuations. (S&P Global Ratings)
Higher borrowing costs are likely to keep squeezing earnings. S&P says the average cost of debt rose to 3.2% by June 2026 and could reach 3.6%–3.8% over the next two years, pushing up interest expense. (S&P Global Ratings)
Redevelopments are weighing temporarily on rental income before replacement tenants begin paying full rents, which Mercialys expects from 2027. The €100 million project programme also requires substantial investment ahead of that contribution. (Mercialys)
Data summarised monthly by Lightyear AI. Last updated on 29 Oct 2026.

Mercialys SA Financial Performance

Revenues and expenses
Income statement
QuarterlyAnnual
Q3 24
QoQ growth
Revenue
Net income
Profit margin

Mercialys SA Earnings Performance

Company profitability
Earnings per share
QuarterlyAnnual
Q4 23
Q1 24
Q2 24
Q3 24
Q4 24
Actual
Expected
Surprise

Funds containing Mercialys SA

AllEURUSDGBP
Funds
Fund name
Fund size
€MERY weighting
iShares European Property Yield€IPRP
€833M0.75%
iShares European Property Yield£IPRP
€833M0.75%
Xtrackers MSCI Europe Small Cap£XXSC
$3.6B0.07%
Xtrackers MSCI Europe Small Cap€DX2J
$3.6B0.07%
iShares Developed Markets Property Yield£IWDP
$1.2B0.06%
Data displayed above is indicative only and its accuracy or completeness is not guaranteed. Actual execution price may vary. Past performance is not indicative of future results. Your return may be affected by currency fluctuations and applicable fees and charges. Capital at risk.
Market data provided by CBOE Europe and Deutsche Börse.