MERLIN Properties SOCIMI, S.A.

MERLIN Properties SOCIMI, S.A.

MRPRF
MERLIN Properties SOCIMI, S.A.US flagOther OTC
17.85
USD
- -
- -
11.05BMarket Cap
2013 Y
2014 Y
2015 Y
2016 Y
2017 Y
2018 Y
2019 Y
2020 Y
2021 Y
2022 Y
2023 Y
2024 Y
2025 Y
TTM
Revenue per Share
0.55
0.58
0.96
0.98
0.99
1.26
1.11
0.96
0.82
0.94
0.99
0.97
0.96
0.92
Basic EPS, GAAP
-0.15
0.51
0.22
1.62
2.35
1.83
1.21
0.12
1.1
0.56
-0.18
0.56
1.4
1.14
Free Cash Flow per Basic Share
- -
0.28
0.3
-0.24
1.47
0.54
0.61
0.28
0.34
0.47
0.48
0.58
0.72
- -
Dividend per Share
- -
- -
0.11
0.28
0.4
0.46
0.5
0.15
0.15
0.97
0.44
0.21
0.22
- -
Book Value per Share
- -
1.84
1.67
2.92
3.36
2.83
2.22
1.13
2.11
1.57
0.82
1.66
2.4
2.03
Tangible Book Value per Share
- -
13.48
12.23
13.42
12.23
13.68
14.44
14.4
15.06
14.63
13.96
14.71
14.34
14.13
Basic Weighted Avg Shares
170
97
223
360
468
468
464
465
466
468
468
510
563
564
Sales/Revenue/Turnover
93
57
214
352
463
590
515
446
383
439
465
495
539
519
Operating Margin (%)
39.45
68.08
75.53
79.19
72.44
82.04
73.66
77.58
73.61
74.89
76.18
76.33
73.84
77.23
Depreciation Expense
47
- -
- -
5
10
2
2
2
2
2
2
4
5
5
Net Income, GAAP
-26
50
49
583
1,100
855
564
56
512
263
-83
284
786
642
Effective Tax Rate (%)
- -
2.05
14.53
1.66
1.16
6.37
4.58
- -
1.94
14.12
- -
4.12
3.34
3.38
Profit Margin (%)
-27.55
87.73
22.89
165.69
237.52
144.79
109.48
12.63
133.8
59.92
-17.96
57.37
145.86
123.58
Working Capital
- -
121
-1,338
631
340
182
99
237
302
-411
385
861
213
1,264
LT Debt
- -
974
1,413
5,105
5,220
5,118
5,446
5,636
5,584
3,471
4,498
4,297
4,196
5,081
Total Equity
- -
1,309
2,926
4,841
5,724
6,402
6,709
6,696
7,027
6,849
6,539
7,501
8,074
7,971
Return on Invested Capital (%)
- -
3.29
3.32
3.41
3.14
3.99
3.04
- -
2.16
2.32
- -
3.08
3.01
3
Return on Capital (%)
- -
11.66
4.16
13.8
18.48
14.24
10.25
- -
9.31
5.79
- -
7.65
15.06
12.72
Return on Common Equity (%)
- -
55.53
17.81
81.8
83.92
59.06
47.81
7.23
67.93
30.68
-14.92
46
71.55
66.28

Capital Structure

FRC

in mil. unless spec.
Mar'25
Jun'25
Sep'25
ST Debt
651
101
109
LT Borrowings
4,583
4,337
5,081
LT Finance Leases
- -
- -
- -
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
562
563
563
Market Capitalization
5,890
6,265
7,211

Working Capital

FRC

in mil. unless spec.
Mar'25
Jun'25
Sep'25
Total Current Assets
1,745
999
1,544
Cash, Cash Equivalents & STI
1,598
849
1,380
Accounts Receivable, Net
73
81
90
Inventories
- -
56
- -
Total Current Liabilities
813
283
280
Payables & Accruals
- -
- -
- -
ST Debt
651
101
109
Deferred Revenue
- -
- -
- -

Growth Rates

FRC

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
12.04%
4.05%
7.65%
Free Cash Flow
-111.1%
25.87%
36.23%
Net Income, GAAP
139.54%
73.14%
177.04%
Sales/Revenue/Turnover
11.88%
4.35%
8.98%
Total Cash Common Dividend
80.78%
93.21%
17.25%

Quarterly Revenue

FRC

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
124
118
131
121
495
2025
133
129
137
- -
539
2026
146
- -
- -
- -
- -

Quarterly Earnings Per Share

FRC

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
0.14
- -
- -
- -
0.56
2025
0.15
- -
- -
- -
1.4
2026
0.12
- -
- -
- -
- -

Quarterly Dividends Per Share

FRC

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
- -
- -
- -
- -
0.21
2025
- -
- -
- -
- -
0.22
2026
- -
- -
- -
- -
- -

Company Description

APIChat
CEO
Ismael Clemente Orrego
Full Time Employees
282
Sector
Real Estate
Industry
REIT - Diversified
Address
Paseo de la Castellana, 257 Madrid Spain 28046
IPO Date
Aug 26, 2014
Business
MERLIN Properties SOCIMI, S.A. (MRPRF) operates as a leading Spanish real estate investment trust (REIT) focused on the acquisition, active management, operation, and selective rotation of core and core-plus commercial real estate assets across the Iberian Peninsula, primarily in Spain and to a lesser extent in Portugal; its portfolio encompasses office buildings (105 assets), logistics warehouses (95 assets), shopping centers (12 assets), and data centers (3 operational facilities), spanning over 4 million square meters of lettable area with rental income diversified across offices (approximately 57.5%), shopping centers (25.3%), logistics (16.7%), and other segments; the company targets institutional and corporate tenants in key urban markets such as Madrid and Barcelona, generating gross rental income of around EUR 500 million annually from a gross asset value exceeding EUR 10 billion. Headquartered in Madrid and founded in 2014, MERLIN Properties lists on the Spanish Stock Exchange (IBEX-35) and benefits from a SOCIMI regime that mandates profit distribution to shareholders via dividends and EPRA NAV appreciation. Recent developments include the issuance of EUR 550 million in green bonds maturing in eight years to support sustainable initiatives, a strategic partnership with EDP and its subsidiary Edged to develop decentralized solar energy solutions for data centers, robust like-for-like rental growth of 3.4% alongside high occupancy rates above 95% in first-half 2025 results, and accelerated expansion in data centers targeting 210 megawatts of IT capacity through phase two developments projected to yield EUR 320 million in rents.

Company News

APIChat
  • MERLIN Properties SOCIMI, S.A. (MPTYY) Q1 2026 Earnings Call Transcript

  • MERLIN Properties SOCIMI, S.A. (MRPRF) Q4 2025 Earnings Call Transcript

  • MERLIN Properties SOCIMI, S.A. (OTCMKTS:MRPRF) Sees Significant Increase in Short Interest

  • MERLIN Properties SOCIMI, S.A. (MRPRF) Q3 2025 Earnings Call Transcript

  • Portugal Existing & Upcoming Data Center Portfolio Database 2025: Start Campus and Merlin Properties Drive Growth in Portugal's Data Center Market

  • Merlin Properties: Crudely Around 20% NAV Upside Before Tax Considerations

  • MERLIN Properties SOCIMI, S.A. (MRPRF) Q1 2025 Earnings Call Transcript

  • MERLIN Properties SOCIMI, S.A. (MRPRF) Q4 2024 Earnings Call Transcript

  • MERLIN Properties SOCIMI, S.A. (MRPRF) Q3 2024 Earnings Conference Call Transcript

  • Merlin: Positive Return, Might Be Time To Reconsider (Rating Downgrade)

  • Spain's Merlin Properties bets on AI boom to drive revenue growth

  • Merlin Properties: The Spanish REIT With Good Performance And Upside

  • MERLIN Properties SOCIMI, S.A. (MRPRF) Q1 2024 Earnings Call Transcript

  • MERLIN Properties SOCIMI, S.A. (MRPRF) Q4 2023 Earnings Call Transcript

  • MERLIN Properties and Edged Expand Global Reach of New Barcelona Data Center with Connections to Barcelona Cable Landing Station, EXA and Axent

  • MERLIN Properties SOCIMI, S.A. (MRPRF) Q3 2023 Earnings Call Transcript

  • Merlin Properties: Battling Against A Tough Environment For REITs

  • MERLIN Properties SOCIMI, S.A. (MRPRF) Q2 2023 Earnings Call Transcript

  • Merlin Properties: Low REIT Valuation And Relatively Low Risk

  • Merlin Properties: Idiosyncratic Office Exposure Pulls It Through