profit from every €100 of sales.
€0€100
MERLIN Properties SOCIMI
€11.90+0.59% today
-3.0% since Dec 21, 25
1-year low €11.251-year high €15.75
Trading close to its lowest price of the past year.
The essentials
Four questions every investor asks, answered in one line each.
more sales each year, on average, 2022 to 2025.
0%20% a year
You pay €9.37 for every €1 of profit it makes in a year.
CheapExpensive
of earnings would pay off all its debt.
No debt5 years
Money in, money out
What MERLIN Properties SOCIMI sold, what it kept, and what it did with the cash.
Sales went from €439 million in 2022 to €539 million in 2025, with €786 million of profit last year.
SalesProfit
MERLIN Properties SOCIMI handed back 30% of the cash it generated last year.
€123M
Free cash flow 2025€405M
Bought back its own shares–
Paid as dividends€123M
Cash vs. debt€1.2B vs. €5.1B
MERLIN Properties SOCIMI vs. similar companies
MERLIN Properties SOCIMI grows the fastest of these 5 and is priced in the middle for its profits.
| Company | Profit from €100 of sales | Sales growth a year | Price per €1 of profit |
|---|---|---|---|
| MERLIN Properties SOCIMI | 9.4× · Cheap | ||
 BXP | 41.4× · Expensive | ||
 Alexandria Real Estate Equities | No profit yet | ||
 Vornado Realty | 7.9× · Cheap | ||
 Nippon Building Fund | 24.3× · Fair price |
AI analysis
An AI analyst reads MERLIN Properties SOCIMI's last five years, its segments, earnings, insiders and peers, and writes the bull case, the bear case and what the price expects.
Run the AI analysisFull statementsIncome, balance sheet and cash flow, year by year
Income statement
| In millions of EUR | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| 439 | 465 | 495 | 539 | |
| 390 | 421 | – | – | |
| 329 | 354 | 377 | 398 | |
| 153 | 37 | 431 | 954 | |
| 263 | -83 | 284 | 786 | |
| 0.56 | -0.18 | 0.56 | 1.40 | |
| 88.8% | 90.6% | – | – | |
| 74.9% | 76.2% | 76.3% | 73.8% | |
| 59.9% | -18.0% | 57.4% | 145.9% |
Balance sheet
| In millions of EUR | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Total assets | 12,051 | 12,065 | 13,459 | 14,269 |
| Cash | 425 | 456 | 1,550 | 1,210 |
| Total debt | 4,249 | 4,524 | 4,922 | 5,062 |
| Total liabilities | 5,202 | 5,526 | 5,958 | 6,194 |
| 6,849 | 6,539 | 7,501 | 8,074 | |
| 468 | 468 | 510 | 563 | |
| 1.0% | 0.2% | 2.6% | 5.4% | |
| 3.8% | -1.3% | 3.8% | 9.7% |
Cash flow
| In millions of EUR | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| 222 | 228 | 317 | 416 | |
| 2 | 2 | 19 | 11 | |
| 220 | 226 | 297 | 405 | |
| Dividends paid | 455 | 207 | 105 | 123 |
| 0 | – | – | – | |
| – | – | – | – |
Valuation
- 9.4×
- –
- 0.26
- 0.9×
- 13.7×
- 18.2×
- 11.8×
- 5.5%
- 10.7%
- 1.7%
Profitability
- –
- 73.8%
- 145.9%
- –
- 5.4%
- 2.3%
- –
- –
- –
- –
Growth
- +7.1%
- +35.7%
- –
- –
- +6.3%
Financial health
- 4.0×
- 0.63
- –
- 7.0×
- 1.18
- –
- –
How it ranks in Real Estate
Each dot is where the company stands among every company over $300M in the sector. Further right is better.
Top 37%of 746
Top 10%of 752
Top 22%of 666
Top 50%of 762
Bottom 49%of 763
1.7%of the share price, paid each year
On $1,000 invested$17a year at today's yield, before tax
–per share
Raised–not every year
How safe it looks
15.7% of its profit
Room to growStretchedMore than it earns: 30.4%
News
No recent news on file.
Insider trades
Our insider feed has not updated since May 26, 2026. Trades filed after that are not listed yet.
No insider trades on file.
Not enough data
Questions about MERLIN Properties SOCIMI
Is MERLIN Properties SOCIMI a good stock to buy?
A business with weak numbers, and the price looks low. Whether it suits you depends on your goals and the price you pay; invest-like never tells anyone to buy or sell. The AI analysis lays out the case for and against. Read the MERLIN Properties SOCIMI AI analysis
What does MERLIN Properties SOCIMI do?
MERLIN Properties SOCIMI, S.A. is one of the largest real estate and infrastructure companies listed on the Spanish Stock Exchange. It is in REIT - Office, based in Madrid, Spain, with 295 employees.
Does MERLIN Properties SOCIMI pay a dividend?
Yes. At today's price the dividend is 1.7% a year, about 16% of its yearly profit. In 2025 it paid out €123 million in dividends.
Is MERLIN Properties SOCIMI stock halal?
No. MERLIN Properties SOCIMI does not pass our halal screen: its debt is 69% of its market value, at or above the 33% limit. How we check
Who are MERLIN Properties SOCIMI's competitors?
The largest listed companies in the same industry are BXP, Alexandria Real Estate Equities, Vornado Realty and Nippon Building Fund. The peers table on this page compares their profit, growth and price with MERLIN Properties SOCIMI's.
Prices: daily closes to Nov 11, 2026. Fundamentals: company reports via invest-like data.