MERLIN PROPERTIES SOCIMI, S.A.

MERLIN Properties SOCIMI, S.A. is Spains largest real estate company listed on the Spanish Stock Exchange. The company focuses on developing, acquiring, and managing commercial properties in the Iberian region. Its portfolio mainly consists of offices, shopping centers, logistics facilities, and data centers. Investments are concentrated in the Core and Core Plus segments. MERLIN Properties is a benchmark for several major indices, including IBEX-35 and Euro STOXX 600.

Overview

Sector

REIT

Target Price

1.0 EUR

Current Price

11.9 EUR

Potential

-92%

Strengths

Strong EBITDA Margin of 87.44%.

Weaknesses

With a depreciation Potential of -91.69%, based on our fundamental analysis, it suggests the stock may be overvalued.
The company have lower returns than the sector in which it operates. ROIC (2.55%) is significantly lower than the sector mean (3.31%).

Key Financial Data

Indicator	Value
PER	23.5
EV/EBITDA	23.2
Price/Free Cash Flow'	22.4
ROIC	2.5%
Net Debt/EBITDA	7.8