MERLIN Properties SOCIMI Ratios and Metrics

Market cap in millions EUR. Fiscal year is January - December.

Millions EUR. Fiscal year is Jan - Dec.

Fiscal Year	Current	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Apr '26 Apr 2, 2026	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Market Capitalization	8,995	6,996	5,714	4,712	4,109	4,468
Market Cap Growth	61.64%	22.43%	21.28%	14.67%	-8.04%	23.56%
Enterprise Value	12,852	10,811	9,142	8,870	7,985	10,178
Last Close Price	14.53	12.43	9.82	9.38	7.83	7.71
PE Ratio	10.40	8.90	20.14	-	15.62	8.72
PS Ratio	15.86	12.34	11.23	9.34	8.87	10.71
PB Ratio	1.11	0.87	0.76	0.72	0.60	0.64
P/OCF Ratio	21.64	16.83	18.04	20.67	18.50	27.50
EV/Sales Ratio	22.67	19.07	17.97	17.57	17.24	24.38
EV/EBITDA Ratio	30.06	25.29	23.46	22.49	22.66	32.38
EV/EBIT Ratio	30.42	25.59	23.73	22.61	22.78	32.58
Debt / Equity Ratio	0.63	0.63	0.66	0.69	0.62	0.89
Debt / EBITDA Ratio	11.86	11.86	12.69	11.49	12.06	19.94
Net Debt / Equity Ratio	0.48	0.48	0.45	0.62	0.56	0.76
Net Debt / EBITDA Ratio	9.02	9.02	8.70	10.32	10.84	16.92
Asset Turnover	0.04	0.04	0.04	0.04	0.04	0.03
Quick Ratio	1.11	1.11	1.92	2.44	0.50	1.34
Current Ratio	1.18	1.18	2.01	2.77	0.56	1.41
Return on Equity (ROE)	10.09%	10.09%	4.04%	-1.25%	0.60%	5.76%
Return on Assets (ROA)	1.91%	1.91%	1.89%	2.03%	1.66%	1.41%
Return on Invested Capital (ROIC)	3.10%	3.19%	3.14%	3.54%	2.47%	2.38%
Earnings Yield	8.74%	11.24%	4.97%	-1.77%	6.40%	11.46%
Dividend Yield	3.02%	-	4.07%	2.22%	5.65%	2.24%
Payout Ratio	15.69%	15.69%	37.06%	-	39.63%	13.67%
Buyback Yield / Dilution	-10.37%	-10.37%	-8.87%	-0.09%	-0.32%	0.69%
Total Shareholder Return	-7.35%	-10.37%	-4.79%	2.13%	5.33%	2.93%

Updated Dec 31, 2025. Source: S&P Global Market Intelligence. Real Estate template. Financial Sources.