(MERY) Mercialys - Overview
Exchange: PA •
Country: France •
Currency: EUR •
Type: Common Stock •
ISIN: FR0010241638
Stock: Retail Properties, Shopping Centers, Real Estate Management
Total Rating 44
Risk 69
Buy Signal 0.29
EPS (Earnings per Share)
Revenue
Dividends
| Dividend Yield | 9.42% |
| Yield on Cost 5y | 21.14% |
| Yield CAGR 5y | 23.49% |
| Payout Consistency | 92.7% |
| Payout Ratio | 6.7% |
| Risk 5d forecast | |
|---|---|
| Volatility | 20.0% |
| Relative Tail Risk | -1.66% |
| Reward TTM | |
|---|---|
| Sharpe Ratio | 0.49 |
| Alpha | 7.80 |
| Character TTM | |
|---|---|
| Beta | 0.002 |
| Beta Downside | 0.137 |
| Drawdowns 3y | |
|---|---|
| Max DD | 20.35% |
| CAGR/Max DD | 0.69 |
Description: MERY Mercialys January 20, 2026
Mercialys SA (ticker MERY) is a French retail-focused REIT listed on Euronext Paris (Compartment A) since 2005, with 93.9 million shares outstanding as of 30 June 2025 and inclusion in the SBF 120 index.
At 30 June 2025 the company owned a €2.9 billion portfolio of retail properties (including transfer taxes) generating an annualized rental base of €180.4 million across 1,985 leases. The portfolio is concentrated in secondary-city shopping centres, where average lease terms run 7-9 years and occupancy has hovered around 94 % in 2024, reflecting resilience despite the shift toward e-commerce.
Key economic drivers for Mercialys include French consumer-spending growth (≈3 % YoY in 2023-24) and the “mixed-use” redevelopment trend, which the firm is leveraging to extend lease durations and diversify tenant mix. Recent filings show a 2024 net operating income (NOI) of roughly €115 million and a leverage ratio of 45 % (net debt/EBITDA), positioning the REIT to maintain its target dividend yield of ~4.5 %.
For a deeper, data-driven assessment of Mercialys’ valuation and risk profile, you may find the analytics on ValueRay worth exploring.
Piotroski VR‑10 (Strict, 0-10) 5.0
| Net Income: 85.8m TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.10 > 0.02 and ΔFCF/TA 0.25 > 1.0 |
| NWC/Revenue: 14.27% < 20% (prev 26.77%; Δ -12.50% < -1%) |
| CFO/TA 0.10 > 3% & CFO 237.7m > Net Income 85.8m |
| Net Debt (1.27b) to EBITDA (253.3m): 5.01 < 3 |
| Current Ratio: 1.11 > 1.5 & < 3 |
| Outstanding Shares: last quarter (93.3m) vs 12m ago 0.03% < -2% |
| Gross Margin: 90.63% > 18% (prev 0.82%; Δ 8980 % > 0.5%) |
| Asset Turnover: 15.41% > 50% (prev 13.05%; Δ 2.36% > 0%) |
| Interest Coverage Ratio: 9.46 > 6 (EBITDA TTM 253.3m / Interest Expense TTM 20.0m) |
Altman Z'' 1.02
| A: 0.02 (Total Current Assets 517.0m - Total Current Liabilities 466.3m) / Total Assets 2.46b |
| B: -0.00 (Retained Earnings -3.60m / Total Assets 2.46b) |
| C: 0.08 (EBIT TTM 189.3m / Avg Total Assets 2.31b) |
| D: 0.32 (Book Value of Equity 581.2m / Total Liabilities 1.82b) |
| Altman-Z'' Score: 1.02 = BB |
Beneish M -3.40
| DSRI: 0.63 (Receivables 28.5m/35.9m, Revenue 355.7m/280.7m) |
| GMI: 0.91 (GM 90.63% / 82.49%) |
| AQI: 0.80 (AQ_t 0.73 / AQ_t-1 0.91) |
| SGI: 1.27 (Revenue 355.7m / 280.7m) |
| TATA: -0.06 (NI 85.8m - CFO 237.7m) / TA 2.46b) |
| Beneish M-Score: -3.40 (Cap -4..+1) = AA |
What is the price of MERY shares?
As of February 08, 2026, the stock is trading at EUR 11.02 with a total of 132,312 shares traded.
Over the past week, the price has changed by +3.96%, over one month by +3.38%, over three months by +4.75% and over the past year by +11.61%.
Over the past week, the price has changed by +3.96%, over one month by +3.38%, over three months by +4.75% and over the past year by +11.61%.
Is MERY a buy, sell or hold?
Mercialys has no consensus analysts rating.
What are the forecasts/targets for the MERY price?
| Issuer | Target | Up/Down from current |
|---|---|---|
| Wallstreet Target Price | 12.9 | 16.6% |
| Analysts Target Price | - | - |
| ValueRay Target Price | 13.5 | 22.1% |
MERY Fundamental Data Overview February 03, 2026
Market Cap USD = 1.17b (989.6m EUR * 1.1801 EUR.USD)
P/E Trailing = 31.1765
P/E Forward = 8.4962
P/S = 5.5999
P/B = 1.723
Revenue TTM = 355.7m EUR
EBIT TTM = 189.3m EUR
EBITDA TTM = 253.3m EUR
Long Term Debt = 1.24b EUR (from longTermDebt, last quarter)
Short Term Debt = 395.2m EUR (from shortTermDebt, last quarter)
Debt = 1.71b EUR (from shortLongTermDebtTotal, last quarter)
Net Debt = 1.27b EUR (from netDebt column, last quarter)
Enterprise Value = 2.34b EUR (989.6m + Debt 1.71b - CCE 364.5m)
Interest Coverage Ratio = 9.46 (Ebit TTM 189.3m / Interest Expense TTM 20.0m)
EV/FCF = 9.86x (Enterprise Value 2.34b / FCF TTM 237.0m)
FCF Yield = 10.15% (FCF TTM 237.0m / Enterprise Value 2.34b)
FCF Margin = 66.62% (FCF TTM 237.0m / Revenue TTM 355.7m)
Net Margin = 24.13% (Net Income TTM 85.8m / Revenue TTM 355.7m)
Gross Margin = 90.63% ((Revenue TTM 355.7m - Cost of Revenue TTM 33.3m) / Revenue TTM)
Gross Margin QoQ = 94.02% (prev 83.18%)
Tobins Q-Ratio = 0.95 (Enterprise Value 2.34b / Total Assets 2.46b)
Interest Expense / Debt = 1.17% (Interest Expense 20.0m / Debt 1.71b)
Taxrate = 2.87% (457.0k / 15.9m)
NOPAT = 183.9m (EBIT 189.3m * (1 - 2.87%))
Current Ratio = 1.11 (Total Current Assets 517.0m / Total Current Liabilities 466.3m)
Debt / Equity = 2.97 (Debt 1.71b / totalStockholderEquity, last quarter 575.4m)
Debt / EBITDA = 5.01 (Net Debt 1.27b / EBITDA 253.3m)
Debt / FCF = 5.35 (Net Debt 1.27b / FCF TTM 237.0m)
Total Stockholder Equity = 613.4m (last 4 quarters mean from totalStockholderEquity)
RoA = 3.72% (Net Income 85.8m / Total Assets 2.46b)
RoE = 13.99% (Net Income TTM 85.8m / Total Stockholder Equity 613.4m)
RoCE = 10.20% (EBIT 189.3m / Capital Employed (Equity 613.4m + L.T.Debt 1.24b))
RoIC = 11.84% (NOPAT 183.9m / Invested Capital 1.55b)
WACC = 2.89% (E(989.6m)/V(2.70b) * Re(5.92%) + D(1.71b)/V(2.70b) * Rd(1.17%) * (1-Tc(0.03)))
Discount Rate = 5.92% (= CAPM, Blume Beta Adj.) -> floored to rf + 0.7*ERP = 7.95%
Shares Correlation 3-Years: 33.33 | Cagr: 0.02%
[DCF Debug] Terminal Value 86.52% ; FCFF base≈222.7m ; Y1≈227.0m ; Y5≈249.7m
Fair Price DCF = 66.03 (EV 7.43b - Net Debt 1.27b = Equity 6.16b / Shares 93.4m; r=5.90% [WACC]; 5y FCF grow 1.73% → 2.90% )
EPS Correlation: -38.84 | EPS CAGR: -47.24% | SUE: 0.0 | # QB: 0
Revenue Correlation: 20.86 | Revenue CAGR: 21.82% | SUE: 1.18 | # QB: 2
EPS next Year (2026-12-31): EPS=1.27 | Chg30d=-0.003 | Revisions Net=-1 | Growth EPS=+1.6% | Growth Revenue=+5.1%
P/E Trailing = 31.1765
P/E Forward = 8.4962
P/S = 5.5999
P/B = 1.723
Revenue TTM = 355.7m EUR
EBIT TTM = 189.3m EUR
EBITDA TTM = 253.3m EUR
Long Term Debt = 1.24b EUR (from longTermDebt, last quarter)
Short Term Debt = 395.2m EUR (from shortTermDebt, last quarter)
Debt = 1.71b EUR (from shortLongTermDebtTotal, last quarter)
Net Debt = 1.27b EUR (from netDebt column, last quarter)
Enterprise Value = 2.34b EUR (989.6m + Debt 1.71b - CCE 364.5m)
Interest Coverage Ratio = 9.46 (Ebit TTM 189.3m / Interest Expense TTM 20.0m)
EV/FCF = 9.86x (Enterprise Value 2.34b / FCF TTM 237.0m)
FCF Yield = 10.15% (FCF TTM 237.0m / Enterprise Value 2.34b)
FCF Margin = 66.62% (FCF TTM 237.0m / Revenue TTM 355.7m)
Net Margin = 24.13% (Net Income TTM 85.8m / Revenue TTM 355.7m)
Gross Margin = 90.63% ((Revenue TTM 355.7m - Cost of Revenue TTM 33.3m) / Revenue TTM)
Gross Margin QoQ = 94.02% (prev 83.18%)
Tobins Q-Ratio = 0.95 (Enterprise Value 2.34b / Total Assets 2.46b)
Interest Expense / Debt = 1.17% (Interest Expense 20.0m / Debt 1.71b)
Taxrate = 2.87% (457.0k / 15.9m)
NOPAT = 183.9m (EBIT 189.3m * (1 - 2.87%))
Current Ratio = 1.11 (Total Current Assets 517.0m / Total Current Liabilities 466.3m)
Debt / Equity = 2.97 (Debt 1.71b / totalStockholderEquity, last quarter 575.4m)
Debt / EBITDA = 5.01 (Net Debt 1.27b / EBITDA 253.3m)
Debt / FCF = 5.35 (Net Debt 1.27b / FCF TTM 237.0m)
Total Stockholder Equity = 613.4m (last 4 quarters mean from totalStockholderEquity)
RoA = 3.72% (Net Income 85.8m / Total Assets 2.46b)
RoE = 13.99% (Net Income TTM 85.8m / Total Stockholder Equity 613.4m)
RoCE = 10.20% (EBIT 189.3m / Capital Employed (Equity 613.4m + L.T.Debt 1.24b))
RoIC = 11.84% (NOPAT 183.9m / Invested Capital 1.55b)
WACC = 2.89% (E(989.6m)/V(2.70b) * Re(5.92%) + D(1.71b)/V(2.70b) * Rd(1.17%) * (1-Tc(0.03)))
Discount Rate = 5.92% (= CAPM, Blume Beta Adj.) -> floored to rf + 0.7*ERP = 7.95%
Shares Correlation 3-Years: 33.33 | Cagr: 0.02%
[DCF Debug] Terminal Value 86.52% ; FCFF base≈222.7m ; Y1≈227.0m ; Y5≈249.7m
Fair Price DCF = 66.03 (EV 7.43b - Net Debt 1.27b = Equity 6.16b / Shares 93.4m; r=5.90% [WACC]; 5y FCF grow 1.73% → 2.90% )
EPS Correlation: -38.84 | EPS CAGR: -47.24% | SUE: 0.0 | # QB: 0
Revenue Correlation: 20.86 | Revenue CAGR: 21.82% | SUE: 1.18 | # QB: 2
EPS next Year (2026-12-31): EPS=1.27 | Chg30d=-0.003 | Revisions Net=-1 | Growth EPS=+1.6% | Growth Revenue=+5.1%