Merlin Properties SOCIMI (MEX:MRLN) Cyclically Adjusted Revenue per Share: MXN23.41 (As of Mar. 2026)

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MEX:MRLN Merlin Properties SOCIMI SA MEX:MRLN
83 GF Score
Price MXN286.60
GF Value MXN206.42
! 8 Warning Signs
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What is Merlin Properties SOCIMI Cyclically Adjusted Revenue per Share?

Merlin Properties SOCIMI MEX:MRLN 83 Cyclically Adjusted Revenue per Share is MXN23.41 as of Mar. 2026. GuruFocus rates MEX:MRLN with a GF Score™ of 83/100 and a GF Value™ of MXN206.42. The stock has 8 warning signs investors should review.

E10 is a concept invented by Prof. Robert Shiller, who uses E10 for his Shiller PE Ratio calculation. E10 is the average of the inflation adjusted earnings of a company over the past 10 years. The similar calculation is applied by GuruFocus to calculate the Cyclically Adjusted Revenue per Share and the Cyclically Adjusted PS Ratio. The Cyclically Adjusted Revenue per Share is the average of the inflation adjusted Revenue per Share of a company over the past 10 years.

Merlin Properties SOCIMI's adjusted revenue per share for the three months ended in Mar. 2026 was MXN4.917. Add all the adjusted revenue per share for the past 10 years together and divide the count will get our Cyclically Adjusted Revenue per Share, which is MXN23.41 for the trailing ten years ended in Mar. 2026.

During the past 12 months, Merlin Properties SOCIMI's average Cyclically Adjusted Revenue Growth Rate was 1.80% per year. Please click Growth Rate Calculation Example (GuruFocus) to see how GuruFocus calculates Wal-Mart Stores Inc (WMT)'s revenue growth rate. You can apply the same method to get the Cyclically Adjusted Revenue Growth Rate using Cyclically Adjusted Revenue per Share data.

As of today (2026-07-21), Merlin Properties SOCIMI's current stock price is MXN286.60. Merlin Properties SOCIMI's Cyclically Adjusted Revenue per Share for the quarter that ended in Mar. 2026 was MXN23.41. Merlin Properties SOCIMI's Cyclically Adjusted PS Ratio of today is 12.24.

During the past 13 years, the highest Cyclically Adjusted PS Ratio of Merlin Properties SOCIMI was 13.51. The lowest was 8.04. And the median was 9.74.


Merlin Properties SOCIMI  (MEX:MRLN) Cyclically Adjusted Revenue per Share Explanation

If a company grows much fast than inflation, Cyclically Adjusted Revenue per Share may underestimate the company's revenue. Cyclically Adjusted PS Ratio can seem to be too high even the actual PS Ratio is low.

For the Cyclically Adjusted PS Ratio, the revenue per share of the past 10 years are inflation-adjusted and averaged. The result is used for P/S calculation. Since it looks at the average over the last 10 years, the Cyclically Adjusted PS Ratio is also called CAPS Ratio.

The Shiller PE Ratio was first used by professor Robert Shiller. He uses E10 for his Shiller PE Ratio calculation. E10 is the average of the inflation adjusted earnings per share of a company over the past 10 years. The similar calculation is applied by GuruFocus to calculate the Cyclically Adjusted PS Ratio. The Cyclically Adjusted Revenue per Share is the average of the inflation adjusted revenue per share of a company over the past 10 years.

Merlin Properties SOCIMI's Cyclically Adjusted PS Ratio of today is calculated as

Cyclically Adjusted PS Ratio=Share Price/Cyclically Adjusted Revenue per Share
=286.60/23.41
=12.24

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

During the past 13 years, the highest Cyclically Adjusted PS Ratio of Merlin Properties SOCIMI was 13.51. The lowest was 8.04. And the median was 9.74.


Be Aware

Cyclically Adjusted PS Ratio works better for cyclical companies. It gives you a better idea on the company's real revenue value.


Merlin Properties SOCIMI Cyclically Adjusted Revenue per Share Related Terms


Merlin Properties SOCIMI Cyclically Adjusted Revenue per Share Historical Data

* Premium members only.

The historical data trend for Merlin Properties SOCIMI's Cyclically Adjusted Revenue per Share can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

Merlin Properties SOCIMI Cyclically Adjusted Revenue per Share Chart

Merlin Properties SOCIMI Annual Data
Trend Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
Cyclically Adjusted Revenue per Share
Get a 7-Day Free Trial Premium Member Only Premium Member Only 0.00 0.00 22.14 22.52 24.78

Merlin Properties SOCIMI Quarterly Data
Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25 Mar26
Cyclically Adjusted Revenue per Share Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 23.21 22.64 19.45 24.78 23.41

MEX:MRLN vs BXP, ARE, VNO: Cyclically Adjusted Revenue per Share Comparison

For the REIT - Office subindustry, Merlin Properties SOCIMI's Cyclically Adjusted PS Ratio, along with its competitors' market caps and Cyclically Adjusted PS Ratio data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.


Merlin Properties SOCIMI Cyclically Adjusted PS Ratio vs REITs Industry

For the REITs industry and Real Estate sector, Merlin Properties SOCIMI's Cyclically Adjusted PS Ratio distribution charts can be found below:

* The bar in red indicates where Merlin Properties SOCIMI's Cyclically Adjusted PS Ratio falls into.


MEX:MRLN
83GF Score
Merlin Properties SOCIMI SA MEX:MRLN
Cyclically Adjusted Revenue per Share is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Merlin Properties SOCIMI Cyclically Adjusted Revenue per Share Calculation

E10 is a concept invented by Prof. Robert Shiller, who uses E10 for his Shiller PE Ratio calculation. E10 is the average of the inflation adjusted earnings of a company over the past 10 years. The similar calculation is applied by GuruFocus to calculate the Cyclically Adjusted Revenue per Share and the Cyclically Adjusted PS Ratio. The Cyclically Adjusted Revenue per Share is the average of the inflation adjusted Revenue per Share of a company over the past 10 years.

What is Cyclically Adjusted Revenue per Share? How do we calculate Cyclically Adjusted Revenue per Share?

Cyclically Adjusted Revenue per Share is the average of the inflation adjusted Revenue per Share of a company over the past 10 years. Let's use an example to explain.

If we want to calculate the Cyclically Adjusted Revenue per Share of Wal-Mart (WMT) for Dec. 31, 2010, we need to have the inflation data and the revenue per share from 2001 through 2010.

We adjusted the 2001 revenue per share data with the total inflation from 2001 through 2010 to the equivalent revenue in 2010. If the total inflation from 2001 to 2010 is 40%, and Wal-Mart's revenue is $1 a share in 2001, then the 2001's equivalent revenue in 2010 is $1.4 a share. If Wal-Mart's revenue is $1 again in 2002, and the total inflation from 2002 through 2010 is 35%, then the equivalent 2002 revenue in 2010 is $1.35. So on and so forth, you get the equivalent revenue per share of past 10 years. Then you add them together and divided the sum by the count to get Cyclically Adjusted Revenue per Share.

Please note that we use the CPI data of the country/region where the company is headquartered. If the CPI data for that country/region is not available, then we will use the CPI data of the United States as default.

For example, Merlin Properties SOCIMI's adjusted Revenue per Share data for the three months ended in Mar. 2026 was:

Adj_RevenuePerShare= Revenue per Share /CPI of Mar. 2026 (Change)*Current CPI (Mar. 2026)
=4.917/129.8600*129.8600
=4.917

Current CPI (Mar. 2026) = 129.8600.

Merlin Properties SOCIMI Quarterly Data

Revenue per Share CPI Adj_RevenuePerShare
201606 5.009 100.333 6.483
201609 5.028 99.737 6.547
201612 5.633 101.842 7.183
201703 4.884 100.896 6.286
201706 5.141 101.848 6.555
201709 5.428 101.524 6.943
201712 5.521 102.975 6.962
201803 5.708 102.122 7.258
201806 9.908 104.165 12.352
201809 2.166 103.818 2.709
201812 10.574 104.193 13.179
201903 6.245 103.488 7.836
201906 5.713 104.612 7.092
201909 6.265 103.905 7.830
201912 5.410 105.015 6.690
202003 6.996 103.469 8.780
202006 5.232 104.254 6.517
202009 8.732 103.521 10.954
202012 3.396 104.456 4.222
202103 5.401 104.857 6.689
202106 3.919 107.102 4.752
202109 6.614 107.669 7.977
202112 3.568 111.298 4.163
202203 5.281 115.153 5.955
202206 4.614 118.044 5.076
202209 5.119 117.221 5.671
202212 4.591 117.650 5.067
202303 4.869 118.948 5.316
202306 4.373 120.278 4.721
202309 5.045 121.343 5.399
202312 3.225 121.300 3.453
202403 4.770 122.762 5.046
202406 4.985 124.409 5.203
202409 3.797 123.121 4.005
202412 5.184 124.753 5.396
202503 5.200 125.531 5.379
202506 4.972 127.251 5.074
202509 5.135 126.840 5.257
202512 5.278 128.400 5.338
202603 4.917 129.860 4.917

Add all the adjusted revenue per share together and divide 10 will get our Cyclically Adjusted Revenue per Share.

What does a Cyclically Adjusted Revenue per Share of MXN23.41 mean?
Merlin Properties SOCIMI (MEX:MRLN) has a Cyclically Adjusted Revenue per Share of MXN23.41 as of Mar. 2026. Cyclically adjusted revenue per share represents the company's inflation-adjusted revenue per share over a 10-year period. View historical data on Merlin Properties SOCIMI and its competitors.
Is Merlin Properties SOCIMI's Cyclically Adjusted Revenue per Share too high?
Merlin Properties SOCIMI's current Cyclically Adjusted Revenue per Share is MXN23.41. Overall, Merlin Properties SOCIMI has a GF Score™ of 83/100, reflecting its overall financial health beyond just this single metric.
How does Merlin Properties SOCIMI's Cyclically Adjusted Revenue per Share compare to BXP and ARE?
Merlin Properties SOCIMI's Cyclically Adjusted Revenue per Share of MXN23.41 can be compared against companies in the REITs industry. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Cyclically Adjusted Revenue per Share for a REITs company?
A good Cyclically Adjusted Revenue per Share depends on the REITs industry context. However, Cyclically Adjusted Revenue per Share should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Cyclically Adjusted Revenue per Share mean?
A high Cyclically Adjusted Revenue per Share can signal that a stock is expensive relative to its fundamentals. Cyclically adjusted revenue per share represents the company's inflation-adjusted revenue per share over a 10-year period. View historical data on Merlin Properties SOCIMI and its competitors. Merlin Properties SOCIMI's current Cyclically Adjusted Revenue per Share is MXN23.41. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Merlin Properties SOCIMI stock overvalued right now?
Merlin Properties SOCIMI (MEX:MRLN) has a current Cyclically Adjusted Revenue per Share of MXN23.41. The stock's GF Value™ is MXN206.42, compared to a current price of MXN286.60 — trading 38.8% above its estimated fair value. The current Cyclically Adjusted Revenue per Share is MXN23.41. Merlin Properties SOCIMI's overall GF Score™ is 83/100 with 8 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Cyclically Adjusted Revenue per Share calculated?
Cyclically Adjusted Revenue per Share is calculated from a company's financial statements. For Merlin Properties SOCIMI (MEX:MRLN), the current Cyclically Adjusted Revenue per Share is MXN23.41 as of Mar. 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.

Is Merlin Properties SOCIMI (MEX:MRLN) Overvalued in 2026?

Based on GuruFocus' analysis, Merlin Properties SOCIMI stock appears to be overvalued. The current stock price of MXN286.60 is trading 38.8% above its estimated GF Value™ of MXN206.42.

Key valuation signals for MEX:MRLN:

  • Cyclically Adjusted Revenue per Share: MXN23.41
  • GF Value™: MXN206.42 vs. price of MXN286.60 (38.8% above fair value)
  • GF Score™: 83/100 with 8 warning signs

No single metric tells the full story. See the MEX:MRLN stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


Merlin Properties SOCIMI Business Description

Industry Real EstateREITs
Address Paseo de la Castellana 257, Madrid, ESP, 28046
Merlin Properties is Spain's largest listed SOCIMI/REIT, managing a EUR 12.6 billion portfolio across offices, logistics, shopping centers, and data centers. Over the coming years, it will bring 730 MW of data center capacity online, increasing its gross rental income contribution from just 6% in 2025 to 65% by 2032. Its total GRI will more than triple to EUR 1.8 billion, driven by this "Mega" plan. Additionally, it has a pipeline of 4.4 GW worth of land at varying stages of readiness it can develop.
83GF Score

Get the complete analysis for MEX:MRLN

Cyclically Adjusted Revenue per Share is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

MXN286.60
Price
MXN206.42
GF Value