MPTYY (Merlin Properties SOCIMI) Owner Earnings per Share (TTM): 0.00 (As of Mar. 2026)

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MPTYY Merlin Properties SOCIMI SA MPTYY
58 GF Score
Price $34.71
GF Value $25.94
Valuation Significantly Overvalued
! 8 Warning Signs
View Full Analysis

What is Merlin Properties SOCIMI Owner Earnings per Share (TTM)?

Merlin Properties SOCIMI MPTYY 58 Owner Earnings per Share (TTM) is 0.00 as of Mar. 2026. 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 334 REITs companies, Merlin Properties SOCIMI ranks worse than 299400.9% on this metric.

In 1986 Berkshire Hathaway Shareholder Letter, Warren Buffett defined owner earnings as follows:

"These represent (a) reported earnings plus (b) depreciation, depletion, amortization, and certain other non-cash charges...less (c) the average annual amount of capitalized expenditures for plant and equipment, etc. that the business requires to fully maintain its long-term competitive position and its unit volume (If the business requires additional working capital to maintain its competitive position and unit volume, the increment also should be included in (c))...Our owner-earnings equation does not yield the deceptively precise figures provided by GAAP, since (c) must be a guess - and one sometimes very difficult to make. Despite this problem, we consider the owner earnings figure, not the GAAP figure, to be the relevant item for valuation purposes - both for investors in buying stocks and for managers in buying entire businesses...All of this points up the absurdity of the 'cash flow' numbers that are often set forth in Wall Street reports. These numbers routinely include (a) plus (b) - but do not subtract (c)."

Merlin Properties SOCIMI does not have enough data to calculate Owner Earnings per Share (TTM), so as Price-to-Owner-Earnings ratio.


The historical rank and industry rank for Merlin Properties SOCIMI's Owner Earnings per Share (TTM) or its related term are showing as below:


During the past 13 years, the highest Price-to-Owner-Earnings ratio of Merlin Properties SOCIMI was 7.14. The lowest was 4.45. And the median was 6.15.


MPTYY's Price-to-Owner-Earnings is not ranked *
in the REITs industry.
Industry Median: 14.565
* Ranked among companies with meaningful Price-to-Owner-Earnings only.

Merlin Properties SOCIMI's Earnings per Share (Diluted) for the three months ended in Mar. 2026 was $0.28. Its Earnings per Share (Diluted) for the trailing twelve months (TTM) ended in Mar. 2026 was $3.18. It's PE Ratio (TTM) ratio for today is 10.92.

Merlin Properties SOCIMI's EPS without NRI for the three months ended in Mar. 2026 was $0.28. Its EPS without NRI for the trailing twelve months (TTM) ended in Mar. 2026 was $2.66. It's PE Ratio without NRI ratio for today is 13.05.


Be Aware

Assumption: Companies usually do not report maintenance capital expenditures and growth capital expenditures separately. Here we use estimated numbers and average them over 5 years. The method to estimate maintenance capital expenditures can be found in above part 4.

Note: GuruFocus' Change In Working Capital is provided by Morningstar. It is calculated by adding the items under "Change in operating assets and liabilities" (may refer to a different name for different company) section in Cash Flow Statement from original financial report. And it includes non-current parts of assets and liabilities.


Merlin Properties SOCIMI Owner Earnings per Share (TTM) Related Terms


Merlin Properties SOCIMI Owner Earnings per Share (TTM) Historical Data

* Premium members only.

The historical data trend for Merlin Properties SOCIMI's Owner Earnings per Share (TTM) 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 Owner Earnings per Share (TTM) Chart

Merlin Properties SOCIMI Annual Data
Trend Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
Owner Earnings per Share (TTM)
Get a 7-Day Free Trial Premium Member Only Premium Member Only 0.00 0.00 0.00 0.00 0.00

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
Owner Earnings per Share (TTM) 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 0.00 0.00 0.00 0.00 0.00

MPTYY vs BXP, ARE, VNO: Owner Earnings per Share (TTM) Comparison

For the REIT - Office subindustry, Merlin Properties SOCIMI's Price-to-Owner-Earnings, along with its competitors' market caps and Price-to-Owner-Earnings 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 Price-to-Owner-Earnings vs REITs Industry

For the REITs industry and Real Estate sector, Merlin Properties SOCIMI's Price-to-Owner-Earnings distribution charts can be found below:

* The bar in red indicates where Merlin Properties SOCIMI's Price-to-Owner-Earnings falls into.


MPTYY
58GF Score
Merlin Properties SOCIMI SA MPTYY
Owner Earnings per Share (TTM) is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Merlin Properties SOCIMI Owner Earnings per Share (TTM) Calculation

In 1986 Berkshire Hathaway Shareholder Letter, Warren Buffett defined owner earnings as follows:

"These represent (a) reported earnings plus (b) depreciation, depletion, amortization, and certain other non-cash charges...less (c) the average annual amount of capitalized expenditures for plant and equipment, etc. that the business requires to fully maintain its long-term competitive position and its unit volume. (If the business requires additional working capital to maintain its competitive position and unit volume, the increment also should be included in (c))...Our owner-earnings equation does not yield the deceptively precise figures provided by GAAP, since (c) must be a guess - and one sometimes very difficult to make. Despite this problem, we consider the owner earnings figure, not the GAAP figure, to be the relevant item for valuation purposes - both for investors in buying stocks and for managers in buying entire businesses...All of this points up the absurdity of the 'cash flow' numbers that are often set forth in Wall Street reports. These numbers routinely include (a) plus (b) - but do not subtract (c)."

To make it simple, then you will have:

Owner Earnings per Share (TTM) = (Net Income + Depreciation, Depletion and Amortization + Change In Deferred Tax - 5Y Average of Maintenance Capital Expenditure + Change In Working Capital) / Shares Outstanding (Diluted Average)

Merlin Properties SOCIMI does not have enough data to calculate Owner Earnings per Share (TTM). Please check Wal-Mart Stores Inc, as your reference.

What does a Owner Earnings per Share (TTM) of 0.00 mean?
Merlin Properties SOCIMI (MPTYY) has a Owner Earnings per Share (TTM) of 0.00 as of Mar. 2026. Warren Buffett defined owner earnings as reported earnings plus depreciation less average maintenance capital expenditure. View historical data on Merlin Properties SOCIMI. Over the past decade, Merlin Properties SOCIMI's Owner Earnings per Share (TTM) has ranged from 4.45 to 7.14. According to the industry distribution chart, Merlin Properties SOCIMI ranks #999999 out of 334 companies in the REITs industry.
Is Merlin Properties SOCIMI's Owner Earnings per Share (TTM) too high?
Merlin Properties SOCIMI's current Owner Earnings per Share (TTM) is 0.00. Over the past 10 years, this metric has ranged from a low of 4.45 to a high of 7.14. Based on the distribution chart, Merlin Properties SOCIMI ranks #999999 out of 334 companies in the REITs industry, which is in the bottom quartile relative to peers. 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 Owner Earnings per Share (TTM) compare to BXP and ARE?
According to the REITs industry distribution chart, Merlin Properties SOCIMI ranks #999999 out of 334 companies for Owner Earnings per Share (TTM). This places Merlin Properties SOCIMI in the lower half of its industry. The industry median Owner Earnings per Share (TTM) is 14.57. Historically, Merlin Properties SOCIMI's own Owner Earnings per Share (TTM) has ranged from 4.45 to 7.14 over the past decade. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Owner Earnings per Share (TTM) for a REITs company?
The median Owner Earnings per Share (TTM) among REITs companies is 14.57, based on 334 companies in the industry. Companies in the top quartile (top 25%) have a Owner Earnings per Share (TTM) significantly above this median, while those in the bottom quartile fall well below. However, Owner Earnings per Share (TTM) 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 Owner Earnings per Share (TTM) mean?
A high Owner Earnings per Share (TTM) can signal that a stock is expensive relative to its fundamentals. Warren Buffett defined owner earnings as reported earnings plus depreciation less average maintenance capital expenditure. View historical data on Merlin Properties SOCIMI. For the REITs industry, the median Owner Earnings per Share (TTM) is 14.57 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Merlin Properties SOCIMI's current Owner Earnings per Share (TTM) is 0.00. 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 Owner Earnings per Share (TTM) is 0.00. 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 Owner Earnings per Share (TTM) calculated?
Owner Earnings per Share (TTM) is calculated from a company's financial statements. For Merlin Properties SOCIMI (MPTYY), the current Owner Earnings per Share (TTM) is 0.00 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:

  • Owner Earnings per Share (TTM): 0.00
  • GF Value™: $25.94 vs. price of $34.71 (33.8% above fair value)
  • GF Score™: 58/100 with 8 warning signs

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 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.
58GF Score

Get the complete analysis for MPTYY

Owner Earnings per Share (TTM) is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

$34.71
Price
$25.94
GF Value