Merlin Properties SOCIMI SA (MRL) - Net Assets
Based on the latest financial reports, Merlin Properties SOCIMI SA (MRL) has net assets worth €7.97 Billion EUR as of September 2025. Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets (€13.96 Billion) and total liabilities (€5.99 Billion). This figure indicates the residual interest in the assets after deducting liabilities, essentially showing what would remain for shareholders if all assets were liquidated and all debts paid off.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | €7.97 Billion |
| % of Total Assets | 57.11% |
| Annual Growth Rate | 3.53% |
| 5-Year Change | N/A |
| 10-Year Change | N/A |
| Growth Volatility | 7.8 |
Merlin Properties SOCIMI SA - Net Assets Trend (2021–2025)
This chart illustrates how Merlin Properties SOCIMI SA's net assets have evolved over time, based on quarterly financial data. Explore and compare other companies by net assets.
Annual Net Assets for Merlin Properties SOCIMI SA (2021–2025)
The table below shows the annual net assets of Merlin Properties SOCIMI SA from 2021 to 2025.
| Year | Net Assets | Change |
|---|---|---|
| 2025-12-31 | €8.07 Billion | +7.65% |
| 2024-12-31 | €7.50 Billion | +14.71% |
| 2023-12-31 | €6.54 Billion | -4.53% |
| 2022-12-31 | €6.85 Billion | -2.53% |
| 2021-12-31 | €7.03 Billion | -- |
Equity Component Analysis
This analysis shows how different components contribute to Merlin Properties SOCIMI SA's total equity over time. Equity components include common stock, retained earnings, additional paid-in capital, and other elements.
Equity Composition Insights
- Retained earnings have grown by 53.5% over the analyzed period, indicating profitable operations and earnings retention.
Current Equity Component Breakdown (December 2025)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | €786.13 Million | 9.74% |
| Other Components | €7.29 Billion | 90.26% |
| Total Equity | €8.07 Billion | 100.00% |
Merlin Properties SOCIMI SA Competitors by Market Cap
The table below lists competitors of Merlin Properties SOCIMI SA ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Blueprint Medicines Corp
NASDAQ:BPMC
|
$8.36 Billion |
|
CTP N.V.
AS:CTPNV
|
$8.37 Billion |
|
Stifel Financial Corporation
NYSE:SF
|
$8.37 Billion |
|
HULIC CO. LTD.
F:87W
|
$8.37 Billion |
|
Grupo Cibest S.A.
NYSE:CIB
|
$8.35 Billion |
|
FSN E-Commerce Ventures Limited
NSE:NYKAA
|
$8.35 Billion |
|
Figma, Inc.
NYSE:FIG
|
$8.35 Billion |
|
U-Haul Holding Company
NYSE:UHAL-B
|
$8.34 Billion |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in Merlin Properties SOCIMI SA's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2024 to 2025, total equity changed from 7,500,980,000 to 8,074,432,000, a change of 573,452,000 (7.6%).
- Net income of 786,129,000 contributed positively to equity growth.
- Dividend payments of 123,316,000 reduced retained earnings.
- New share issuances of 14,000 increased equity.
- Other factors decreased equity by 89,375,000.
Equity Change Factors (2024 to 2025)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | €786.13 Million | +9.74% |
| Dividends Paid | €123.32 Million | -1.53% |
| Share Issuances | €14.00K | +0.0% |
| Other Changes | €-89.38 Million | -1.11% |
| Total Change | €- | 7.65% |
Book Value vs Market Value Analysis
This analysis compares Merlin Properties SOCIMI SA's book value (net assets) with its market value over time. The relationship between these values can provide insights into investor sentiment and company valuation.
Valuation Insights
- Current price-to-book ratio: 1.07x
- The company is trading above its book value, indicating the market recognizes value beyond its reported assets.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 2021-12-31 | €15.05 | €15.30 | x |
| 2022-12-31 | €14.63 | €15.30 | x |
| 2023-12-31 | €13.96 | €15.30 | x |
| 2024-12-31 | €13.34 | €15.30 | x |
| 2025-12-31 | €14.35 | €15.30 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Merlin Properties SOCIMI SA utilizes its equity to generate returns, including Return on Equity (ROE) and its components based on the DuPont analysis framework.
Capital Efficiency Insights
- Current Return on Equity (ROE): 9.74%
- The company has moderate efficiency in generating returns from equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 145.86%
- • Asset Turnover: 0.04x
- • Equity Multiplier: 1.77x
- Recent ROE (9.74%) is above the historical average (4.67%), indicating improving capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2021 | 7.29% | 133.80% | 0.03x | 2.03x | €-190.48 Million |
| 2022 | 3.84% | 59.92% | 0.04x | 1.76x | €-421.84 Million |
| 2023 | -1.28% | -17.96% | 0.04x | 1.85x | €-737.40 Million |
| 2024 | 3.78% | 57.37% | 0.04x | 1.79x | €-466.34 Million |
| 2025 | 9.74% | 145.86% | 0.04x | 1.77x | €-21.31 Million |
Industry Comparison
This section compares Merlin Properties SOCIMI SA's net assets metrics with peer companies in the REIT - Office industry.
No peer company data available for comparison.
About Merlin Properties SOCIMI SA
MERLIN Properties SOCIMI, S.A. (MC:MRL) is the largest real estate and infrastructure company trading on the Spanish Stock Exchange. Specialized in the development, acquisition and management of commercial property in the lberian region. MERLIN Properties mainly invests in offices, shopping centers, logistics facilities and data centers, within the Core and Core Plus segments, forming part of the… Read more