Merlin Properties/€MRL
1D1W1MYTD1Y5YMAX
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
€7.7B
8.40
€1.48
0.94
€0.38
3.06%
Price and volume
Market cap
€7.7B
Beta
0.94
52-week high
€15.88
52-week low
€11.83
Average daily volume
883K
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)
8.403
Price to revenue (TTM)
11.905
Price to book
0.83
Price to tangible book (TTM)
0.83
Price to free cash flow (TTM)
16.799
Free cash flow yield (TTM)
5.95%
Free cash flow per share (TTM)
0.738
Dividend yield (TTM)
3.06%
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
MERLIN reported strong first-half 2026 momentum: revenue and EBITDA rose 11.7%, FFO increased 8.0%, data-center capacity reached 160 MW leased, and management raised FY2026 FFO guidance to €340 million. (MERLIN Properties)
Balance-sheet risk has recently improved: June 2026 LTV was 24.5%, liquidity was €2.571 billion, average debt maturity was four years, and S&P and Moody’s reaffirmed investment-grade ratings of BBB+ and Baa1. (MERLIN Properties)
The data-center platform offers a potentially substantial long-term growth engine, with MERLIN targeting 730 MW of capacity and up to 65% of group revenue from the segment by 2032; 48 MW in Álava is already pre-leased to CoreWeave for expected 2027 operations. (Cinco Días)
The March 2026 equity raise issued shares equivalent to roughly 10% of pre-deal capital, creating dilution for existing shareholders even though Santander and Nortia participated. (Cinco Días)
MERLIN’s data-center strategy is highly capital intensive: Phase III alone implies €4.47 billion of investment through 2030, raising execution, construction and funding risks if projects are delayed or lease-up assumptions weaken. (Cinco Días)
Potential Spanish rules requiring data centers to match at least 80% of hourly electricity consumption with new renewable generation could require substantial additional investment and pressure project returns; the proposal’s final form remains uncertain. (Cinco Días)
Data summarised monthly by Lightyear AI. Last updated on 14 Sept 2026.
MRL Financial Performance
Revenues and expenses
MRL Earnings Performance
Company profitability
Upcoming events
No upcoming events
Funds containing MRL
AllEURGBPUSD
Fund name | Fund size | €MRL weighting |
|---|---|---|
iShares European Property Yield€IPRP | €813M | 4.77% |
iShares European Property Yield£IPRP | £698M | 4.77% |
iShares STOXX Europe 600 Real Estate€EXI5 | €58M | 3.83% |
iShares EURO STOXX Mid€DJMC | €572M | 0.77% |
iShares EURO STOXX Mid Cap£DJMC | £491M | 0.77% |
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.