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	Mar '26 Mar 12, 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	7,711	6,996	5,714	4,712	4,109	4,468
Market Cap Growth	34.94%	22.43%	21.28%	14.67%	-8.04%	23.56%
Enterprise Value	11,567	10,811	9,142	8,870	7,985	10,178
Last Close Price	13.70	12.40	9.82	9.41	7.93	7.54
PE Ratio	9.81	8.90	20.14	-	15.62	8.72
PS Ratio	13.60	12.34	11.23	9.34	8.87	10.71
PB Ratio	0.95	0.87	0.76	0.72	0.60	0.64
P/OCF Ratio	18.55	16.83	18.04	20.67	18.50	27.50
EV/Sales Ratio	20.40	19.07	17.97	17.57	17.24	24.38
EV/EBITDA Ratio	27.05	25.29	23.46	22.49	22.66	32.38
EV/EBIT Ratio	27.38	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	10.20%	11.24%	4.97%	-1.77%	6.40%	11.46%
Dividend Yield	2.68%	-	4.08%	2.21%	5.57%	2.29%
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	-7.68%	-10.37%	-4.79%	2.12%	5.25%	2.98%

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