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Merlin Properties SOCIMIMPTYY 58 Debt-to-EBITDA is 12.13 as of Mar. 2026, which is 26% above its 10-year median of 9.63. GuruFocus rates MPTYY with a GF Score™ of 58/100 and a GF Value™ of $25.94 (Significantly Overvalued). The stock has 8 warning signs investors should review. Among 579 REITs companies, Merlin Properties SOCIMI ranks better than 59.07% on this metric.
Debt-to-EBITDA measures a company's ability to pay off its debt.
A high Debt-to-EBITDA ratio generally means that a company may spend more time to paying off its debt. According to Joel Tillinghast's BIG MONEY THINKS SMALL: Biases, Blind Spots, and Smarter Investing, a ratio of Debt-to-EBITDA exceeding four is usually considered scary unless tangible assets cover the debt.
The historical rank and industry rank for Merlin Properties SOCIMI's Debt-to-EBITDA or its related term are showing as below:
MPTYY'
s Debt-to-EBITDA Range Over the Past 10 Years
Min: 4.33 Med: 9.63 Max: 123.61
Current: 5.53
During the past 13 years, the highest Debt-to-EBITDA Ratio of Merlin Properties SOCIMI was 123.61. The lowest was 4.33. And the median was 9.63.
MPTYY's Debt-to-EBITDA is ranked better than 59.07% of 579
companies
in the REITs industry
Industry Median: 6.49
vs MPTYY: 5.53
A high Debt-to-EBITDA ratio generally means that a company may spend more time to paying off its debt.
According to Joel Tillinghast's BIG MONEY THINKS SMALL: Biases, Blind Spots, and Smarter Investing, a ratio of Debt-to-EBITDA exceeding four is usually considered scary unless tangible assets cover the debt.
Merlin Properties SOCIMI Debt-to-EBITDA Related Terms
Merlin Properties SOCIMI Debt-to-EBITDA Historical Data
* 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.
For the REIT - Office subindustry, Merlin Properties SOCIMI's Debt-to-EBITDA, along with its competitors' market caps and Debt-to-EBITDA 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 Debt-to-EBITDA vs REITs Industry
For the REITs industry and Real Estate sector, Merlin Properties SOCIMI's Debt-to-EBITDA distribution charts can be found below:
* The bar in red indicates where Merlin Properties SOCIMI's Debt-to-EBITDA falls into.
* 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.
In the calculation of annual Debt-to-EBITDA, the EBITDA of the last fiscal year is used. In calculating the annualized quarterly data,
the EBITDA data used here is four times the quarterly (Mar. 2026) EBITDA data.
Merlin Properties SOCIMI (MPTYY) has a Debt-to-EBITDA of 12.13 as of Mar. 2026. Debt-to-EBITDA ratio represents the ratio of total debt to total earnings before interest, taxes, depreciation and amortization. View historical data on Merlin Properties SOCIMI. This is 26% above median its historical median of 9.63. Over the past decade, Merlin Properties SOCIMI's Debt-to-EBITDA has ranged from 4.33 to 123.61. According to the industry distribution chart, Merlin Properties SOCIMI ranks #237 out of 579 companies in the REITs industry, placing it in the top 40.9%.
Is Merlin Properties SOCIMI's Debt-to-EBITDA too high?
Merlin Properties SOCIMI's current Debt-to-EBITDA of 12.13 is 26% above median its 10-year median of 9.63. Over the past 10 years, this metric has ranged from a low of 4.33 to a high of 123.61. The REITs industry median Debt-to-EBITDA is 6.49. Merlin Properties SOCIMI's value of 12.13 is 86.9% above this industry median. Based on the distribution chart, Merlin Properties SOCIMI ranks #237 out of 579 companies in the REITs industry, which is above the industry midpoint. Overall, Merlin Properties SOCIMI has a GF Score™ of 58/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Merlin Properties SOCIMI's Debt-to-EBITDA compare to BXP and ARE?
According to the REITs industry distribution chart, Merlin Properties SOCIMI ranks #237 out of 579 companies for Debt-to-EBITDA. This puts Merlin Properties SOCIMI in the upper half of its industry. The industry median Debt-to-EBITDA is 6.49. Merlin Properties SOCIMI's value of 12.13 is 86.9% above this benchmark. Historically, Merlin Properties SOCIMI's own Debt-to-EBITDA has ranged from 4.33 to 123.61 over the past decade. While the company's 10-year median is 9.63 vs. the industry median of 6.49, Merlin Properties SOCIMI has consistently been above the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Debt-to-EBITDA for a REITs company?
The median Debt-to-EBITDA among REITs companies is 6.49, based on 579 companies in the industry. Companies in the top quartile (top 25%) have a Debt-to-EBITDA significantly above this median, while those in the bottom quartile fall well below. However, Debt-to-EBITDA should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Merlin Properties SOCIMI's current Debt-to-EBITDA of 12.13 is 86.9% above the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Debt-to-EBITDA mean?
A high Debt-to-EBITDA can signal that a stock is expensive relative to its fundamentals. Debt-to-EBITDA ratio represents the ratio of total debt to total earnings before interest, taxes, depreciation and amortization. View historical data on Merlin Properties SOCIMI. For the REITs industry, the median Debt-to-EBITDA is 6.49 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Merlin Properties SOCIMI's current Debt-to-EBITDA is 12.13, which is 26% above median its own 10-year median of 9.63. 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?
Based on GuruFocus' analysis, Merlin Properties SOCIMI (MPTYY) is currently considered Significantly Overvalued. The stock's GF Value™ is $25.94, compared to a current price of $34.71 — trading 33.8% above its estimated fair value. The current Debt-to-EBITDA is 12.13, which is 26% above median its 10-year median of 9.63 and 86.9% above the REITs industry median of 6.49. Merlin Properties SOCIMI's overall GF Score™ is 58/100 with 8 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Debt-to-EBITDA calculated?
Debt-to-EBITDA is calculated from a company's financial statements. For Merlin Properties SOCIMI (MPTYY), the current Debt-to-EBITDA is 12.13 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 (MPTYY) Overvalued in 2026?
Based on GuruFocus' analysis, Merlin Properties SOCIMI stock appears to be overvalued.
The current stock price of $34.71 is trading 33.8% above its estimated GF Value™ of $25.94.
GuruFocus considers Merlin Properties SOCIMI to be Significantly Overvalued.
Key valuation signals for MPTYY:
Debt-to-EBITDA: 12.13 (26% above median its 10-year median of 9.63)
GF Value™: $25.94 vs. price of $34.71 (33.8% above fair value)
Industry Position: 86.9% above the REITs median (#237 of 579)
No single metric tells the full story. See the MPTYY stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
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.
58GF Score
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Debt-to-EBITDA is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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