MERCIALYS (FR:MERY)
:MERY
Top Page
MERCIALYS
(MERY)
Select Model
Select Model
Rating:52Neutral
Price Target:
€12.00
▲(1.18% Upside)
Action:ReiteratedDate:03/04/26
The score is held back primarily by weaker cash generation and higher leverage in 2025, which increase financial risk and reduce flexibility. Technicals are supportive but appear overextended, while valuation is balanced between a high dividend yield and a relatively high P/E.
Positive Factors
High EBITDA margin
Sustained high EBITDA margins (~55%) indicate efficient property-level operations and pricing power in the portfolio. For a retail REIT this margin cushion supports stability of operating cash flow through cycles, underpinning the ability to fund maintenance, targeted capex and tenant services over months.
Negative Factors
Rising leverage
Material increase in leverage reduces financial flexibility for a rate-sensitive REIT. Higher debt-to-equity heightens refinancing and interest-rate risk, limiting capacity for opportunistic acquisitions or rapid deleveraging and constraining strategic choices if market funding conditions tighten over the next several quarters.
Read all positive and negative factors
Positive Factors
Negative Factors
High EBITDA margin
Sustained high EBITDA margins (~55%) indicate efficient property-level operations and pricing power in the portfolio. For a retail REIT this margin cushion supports stability of operating cash flow through cycles, underpinning the ability to fund maintenance, targeted capex and tenant services over months.
Read all positive factors
MERCIALYS (MERY) vs. iShares MSCI France ETF (EWQ)
Market Cap
€1.13B
Dividend Yield9.24%
Average Volume (3M)155.41K
Price to Earnings (P/E)30.5
Beta (1Y)0.46
Revenue Growth-1.19%
EPS Growth-46.75%
CountryFR
Employees174
SectorReal Estate
Sector Strength53
IndustryREIT - Retail
Share Statistics
EPS (TTM)0.21
Shares Outstanding93,886,500
10 Day Avg. Volume166,244
30 Day Avg. Volume155,409
Financial Highlights & Ratios
PEG Ratio-0.80
Price to Book (P/B)1.74
Price to Sales (P/S)4.38
P/FCF Ratio49.28
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
€13.53Price Target Upside14.11% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering3
EPS Forecast (FY)1.21
Revenue Forecast (FY)€192.24M
MERCIALYS Business Overview & Revenue Model
Company Description
Mercialys is one of France's leading real estate companies, focused exclusively on shopping centers and high-street retail assets. At June 30, 2020, Mercialys had a portfolio of 2,111 leases, representing a rental value of Euro 182.3 million on an...
How the Company Makes Money
MERCIALYS generates revenue primarily through rental income from its extensive portfolio of retail properties. The company leases space to various retail tenants, including grocery stores, fashion outlets, and service providers, which provides a s...
MERCIALYS Financial Statement Overview
Summary
Income Statement
63
Positive
Balance Sheet
44
Neutral
Cash Flow
38
Negative
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 236.59M | 221.16M | 178.01M | 176.89M | 205.35M |
| Gross Profit | 108.21M | 172.31M | 170.92M | 165.93M | 160.04M |
| EBITDA | 130.35M | 130.13M | 147.76M | 141.56M | 149.74M |
| Net Income | 33.97M | 53.76M | 53.37M | 43.09M | 62.18M |
Balance Sheet | |||||
| Total Assets | 2.43B | 2.16B | 2.15B | 2.29B | 2.43B |
| Cash, Cash Equivalents and Short-Term Investments | 435.32M | 283.65M | 118.16M | 216.09M | 257.18M |
| Total Debt | 1.75B | 1.30B | 1.20B | 1.27B | 1.40B |
| Total Liabilities | 1.77B | 1.40B | 1.28B | 1.36B | 1.49B |
| Stockholders Equity | 595.09M | 631.07M | 677.22M | 725.13M | 743.12M |
Cash Flow | |||||
| Free Cash Flow | 21.03M | 161.53M | 134.27M | 147.68M | 127.48M |
| Operating Cash Flow | 122.78M | 161.53M | 134.27M | 150.12M | 135.74M |
| Investing Cash Flow | -127.03M | 102.22M | -21.74M | 59.00M | 14.72M |
| Financing Cash Flow | 155.92M | -98.26M | -210.37M | -250.20M | -358.00M |
MERCIALYS Technical Analysis
Positive
11.86
Price Trends
11.47
Positive
11.09
Positive
11.00
Positive
Market Momentum
0.04
Negative
60.69
Neutral
76.46
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For FR:MERY, the sentiment is Positive. The current price of 11.86 is above the 20-day moving average (MA) of 11.75, above the 50-day MA of 11.47, and above the 200-day MA of 11.00, indicating a bullish trend. The MACD of 0.04 indicates Negative momentum. The RSI at 60.69 is Neutral, neither overbought nor oversold. The STOCH value of 76.46 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for FR:MERY.
MERCIALYS Peers Comparison
UnderperformOutperform
Sector (65)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
75 Outperform | €9.50B | 7.44 | 11.02% | 5.04% | 6.74% | 74.00% | |
71 Outperform | €2.37B | 12.87 | ― | 7.42% | 16.69% | 574.43% | |
65 Neutral | $2.17B | 12.19 | 3.79% | 4.94% | 3.15% | 1.96% | |
65 Neutral | €1.05B | 12.17 | 0.61% | 6.51% | 8.81% | -78.28% | |
60 Neutral | €14.19B | 10.47 | ― | 3.80% | 4.09% | ― | |
52 Neutral | €1.13B | 30.52 | 5.80% | 9.24% | -1.19% | -46.75% |
* Real Estate Sector Average
FR:MERY
MERCIALYS
12.14
2.24
22.61%
FR:LI
Klepierre (ex Compagnie Fonciere Klepierre)
33.72
6.30
22.98%
FR:URW
Unibail Rodamco Westfield
98.46
36.40
58.65%
FR:CARM
Carmila SAS
17.00
1.43
9.20%
FR:FREY
Frey SA
32.60
6.55
25.14%
FR:AREIT
Altareit SA
595.00
109.00
22.43%
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.