Merlin Properties/€MRL
1D1W1M3M6MYTD1Y5YMAX
Capital at risk
About Merlin Properties
MERLIN Properties SOCIMI SA, ticker symbol MRL, is a prominent real estate investment trust (REIT) established in 2014. The company primarily acquires, actively manages, and invests in commercial real estate assets, specializing in sectors such as offices, logistics facilities, retail properties, and urban hotels across Spain and Portugal. Operating within the financial sector, MERLIN Properties is known for focusing on high-quality assets in prime locations to optimize value for shareholders.
- Ticker
- €MRL
- Sector
- Real Estate
- Primary listing
- BME
- Employees
- 296
- Headquarters
- Madrid, Spain
- Website
- www.merlinproperties.com
MRL Metrics
BasicAdvanced
€7.1B
7.77
€1.48
0.93
€0.38
3.31%
Price and volume
Market cap
€7.1B
Beta
0.93
52-week high
€15.88
52-week low
€11.05
Average daily volume
1.5M
Dividend rate
€0.38
Financial strength
Current ratio
1.586
Quick ratio
1.508
Long term debt to equity
0.466
Total debt to equity
0.558
Dividend payout ratio (TTM)
14.31%
Interest coverage (TTM)
3.01%
Profitability
EBITDA (TTM)
433.631
Gross margin (TTM)
100.00%
Net profit margin (TTM)
141.68%
Operating margin (TTM)
71.11%
Effective tax rate (TTM)
6.88%
Revenue per employee (TTM)
€2,030,000
Management effectiveness
Return on assets (TTM)
1.85%
Return on equity (TTM)
9.92%
Valuation
Price to earnings (TTM)
7.765
Price to revenue (TTM)
11.002
Price to book
0.76
Price to tangible book (TTM)
0.77
Price to free cash flow (TTM)
15.525
Free cash flow yield (TTM)
6.44%
Free cash flow per share (TTM)
0.738
Dividend yield (TTM)
3.31%
Growth
Revenue change (TTM)
11.55%
Earnings per share change (TTM)
23.76%
3-year revenue growth (CAGR)
6.13%
10-year revenue growth (CAGR)
6.93%
3-year earnings per share growth (CAGR)
35.76%
10-year earnings per share growth (CAGR)
12.68%
3-year dividend per share growth (CAGR)
-20.75%
10-year dividend per share growth (CAGR)
7.42%
What the Analysts think about MRL
Analyst ratings (Buy, Hold, Sell) for Merlin Properties stock.
Analyst projections of the future price of Merlin Properties stock.
Bulls say / Bears say
Data centres are becoming a meaningful growth engine: MERLIN had leased or pre-let 160 MW by the half-year and raised its 2026 FFO guidance to €340 million. First-half revenue and EBITDA both grew 11.7% year on year. (MERLIN Properties)
The established property portfolio is still producing steady income, with 3.3% like-for-like rental growth and overall occupancy of 94.7% in the first half. Shopping centres, offices and logistics each recorded rental growth, helping to balance the newer data-centre business. (MERLIN Properties)
The balance sheet gives MERLIN room to fund its expansion: half-year loan-to-value was 24.5%, liquidity was €2.57 billion and both credit ratings remained investment grade. EPRA net tangible assets stood at €15.99 per share. (MERLIN Properties)
The data-centre expansion will need substantial further funding, creating dilution risk for shareholders. MERLIN has already raised €768 million and is expected to need about €1.5 billion more in equity for the later stages of its plan. (elEconomista)
Some of the new data-centre income may carry tenant-credit risk: Jefferies highlighted that neo-cloud operators make up about 85% of a major pre-let, while CoreWeave has a B+ credit rating. A tenant problem could therefore affect cash flows as the business scales. (Investing.com)
Spain’s proposed data-centre rules could slow development by adding approvals, costs and sustainability requirements. That creates a risk that future projects take longer or cost more than planned. (OCU Inversiones)
Data summarised monthly by Lightyear AI. Last updated on 15 Oct 2026.
MRL Financial Performance
Revenues and expenses
MRL Earnings Performance
Company profitability
Upcoming events
No upcoming events
Funds containing MRL
AllEURUSDGBP
Fund name | Fund size | €MRL weighting |
|---|---|---|
iShares European Property Yield€IPRP | €833M | 4.25% |
iShares European Property Yield£IPRP | €833M | 4.25% |
iShares STOXX Europe 600 Real Estate€EXI5 | €63M | 3.41% |
Xtrackers Spain€XESD | €282M | 0.61% |
iShares EURO STOXX Mid€DJMC | €595M | 0.59% |
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.