Merlin Properties SOCIMIMRPRF +0.56%81 Return-on-Tangible-Asset is 2.09% as of Mar. 2026, which is 48% below its 10-year median of 4.03. GuruFocus rates MRPRF with a GF Score™ of 81/100 and a GF Value™ of $12.51 (Significantly Overvalued). The stock has 8 warning signs investors should review. Among 936 REITs companies, Merlin Properties SOCIMI ranks better than 69.87% on this metric.
Return-on-Tangible-Asset is calculated as Net Income divided by its average total tangible assets. Total tangible assets equals to Total Assets minus Intangible Assets. Merlin Properties SOCIMI's annualizedNet Income for the quarter that ended in Mar. 2026 was $355.9 Mil. Merlin Properties SOCIMI's average total tangible assets for the quarter that ended in Mar. 2026 was $17,066.7 Mil. Therefore, Merlin Properties SOCIMI's annualized Return-on-Tangible-Asset for the quarter that ended in Mar. 2026 was 2.09%.
The historical rank and industry rank for Merlin Properties SOCIMI's Return-on-Tangible-Asset or its related term are showing as below:
MRPRF'
s Return-on-Tangible-Asset Range Over the Past 10 Years
Min: -0.69 Med: 4.03 Max: 9.61
Current: 5.54
During the past 13 years, Merlin Properties SOCIMI's highest Return-on-Tangible-Asset was 9.61%. The lowest was -0.69%. And the median was 4.03%.
MRPRF's Return-on-Tangible-Asset is ranked better than 69.87% of 936
companies
in the REITs industry
Industry Median: 3.25
vs MRPRF: 5.54
Return-on-Tangible-Asset measures the rate of return on the average total tangible assets (total assets minus intangible assets). Tangible means physical in nature. Intangible Assets are assets that are not physical in nature, and typically "derive their value from legal or intellectual rights." Return-on-Tangible-Asset measures a firm's efficiency at generating profits from its tangible assets. It shows how well a company uses what it has to generate earnings. Return-on-Tangible-Assets can vary drastically across industries. Therefore, Return-on-Tangible-Asset should not be used to compare companies in different industries.
Be Aware
Like ROE and ROA, Return-on-Tangible-Asset is calculated with only 12 months data. Fluctuations in the companys earnings or business cycles can affect the ratio drastically. It is important to look at the ratio from a long term perspective. Return-on-Tangible-Asset can be affected by events such as stock buyback or issuance, and by a companys tax rate and its interest payment. Return-on-Tangible-Asset may not reflect the true earning power of the assets. A more accurate measurement is ROC % (ROC).
Many analysts argue the higher return the better. Buffett states that really high Return-on-Tangible-Asset may indicate vulnerability in the durability of the competitive advantage.
Merlin Properties SOCIMI Return-on-Tangible-Asset Related Terms
Merlin Properties SOCIMI Return-on-Tangible-Asset Historical Data
* Premium members only.
The historical data trend for Merlin Properties SOCIMI's Return-on-Tangible-Asset 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.
MRPRF vs BXP, ARE, VNO: Return-on-Tangible-Asset Comparison
For the REIT - Office subindustry, Merlin Properties SOCIMI's Return-on-Tangible-Asset, along with its competitors' market caps and Return-on-Tangible-Asset 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 Return-on-Tangible-Asset vs REITs Industry
For the REITs industry and Real Estate sector, Merlin Properties SOCIMI's Return-on-Tangible-Asset distribution charts can be found below:
* The bar in red indicates where Merlin Properties SOCIMI's Return-on-Tangible-Asset 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 Return-on-Tangible-Asset, the net income of the last fiscal year and the average total tangible assets over the fiscal year are used. In calculating the quarterly data,
the Net Income data used here is four times the quarterly (Mar. 2026) net income data.
What does a Return-on-Tangible-Asset of 2.09% mean?
Merlin Properties SOCIMI (MRPRF) has a Return-on-Tangible-Asset of 2.09% as of Mar. 2026. Return on tangible assets is the ratio of current-period net income to average two-period tangible assets. View historical data on Merlin Properties SOCIMI and its competitors. This is 48% below median its historical median of 4.03. According to the industry distribution chart, Merlin Properties SOCIMI ranks #282 out of 936 companies in the REITs industry, placing it in the top 30.1%.
Is Merlin Properties SOCIMI's Return-on-Tangible-Asset too high?
Merlin Properties SOCIMI's current Return-on-Tangible-Asset of 2.09% is 48% below median its 10-year median of 4.03. The REITs industry median Return-on-Tangible-Asset is 3.25. Merlin Properties SOCIMI's value of 2.09% is 35.7% below this industry median. Based on the distribution chart, Merlin Properties SOCIMI ranks #282 out of 936 companies in the REITs industry, which is above the industry midpoint. Overall, Merlin Properties SOCIMI has a GF Score™ of 81/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Merlin Properties SOCIMI's Return-on-Tangible-Asset compare to BXP and ARE?
According to the REITs industry distribution chart, Merlin Properties SOCIMI ranks #282 out of 936 companies for Return-on-Tangible-Asset. This puts Merlin Properties SOCIMI in the upper half of its industry. The industry median Return-on-Tangible-Asset is 3.25. Merlin Properties SOCIMI's value of 2.09% is 35.7% below this benchmark. While the company's 10-year median is 4.03 vs. the industry median of 3.25, Merlin Properties SOCIMI has consistently been below 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 Return-on-Tangible-Asset for a REITs company?
The median Return-on-Tangible-Asset among REITs companies is 3.25, based on 936 companies in the industry. Companies in the top quartile (top 25%) have a Return-on-Tangible-Asset significantly above this median, while those in the bottom quartile fall well below. However, Return-on-Tangible-Asset should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Merlin Properties SOCIMI's current Return-on-Tangible-Asset of 2.09% is 35.7% below 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 Return-on-Tangible-Asset mean?
A high Return-on-Tangible-Asset can signal that a stock is expensive relative to its fundamentals. Return on tangible assets is the ratio of current-period net income to average two-period tangible assets. View historical data on Merlin Properties SOCIMI and its competitors. For the REITs industry, the median Return-on-Tangible-Asset is 3.25 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Merlin Properties SOCIMI's current Return-on-Tangible-Asset is 2.09%, which is 48% below median its own 10-year median of 4.03. 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 (MRPRF) is currently considered Significantly Overvalued. The stock's GF Value™ is $12.51, compared to a current price of $17.90 — trading 43.1% above its estimated fair value. The current Return-on-Tangible-Asset is 2.09%, which is 48% below median its 10-year median of 4.03 and 35.7% below the REITs industry median of 3.25. Merlin Properties SOCIMI's overall GF Score™ is 81/100 with 8 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Return-on-Tangible-Asset calculated?
Return-on-Tangible-Asset is calculated from a company's financial statements. For Merlin Properties SOCIMI (MRPRF), the current Return-on-Tangible-Asset is 2.09% 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 (MRPRF) Overvalued in 2026?
Based on GuruFocus' analysis, Merlin Properties SOCIMI stock appears to be overvalued.
The current stock price of $17.90 is trading 43.1% above its estimated GF Value™ of $12.51.
GuruFocus considers Merlin Properties SOCIMI to be Significantly Overvalued.
Key valuation signals for MRPRF:
Return-on-Tangible-Asset: 2.09% (48% below median its 10-year median of 4.03)
GF Value™: $12.51 vs. price of $17.90 (43.1% above fair value)
Industry Position: 35.7% below the REITs median (#282 of 936)
No single metric tells the full story. See the MRPRF 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.
81GF Score
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