Merlin Properties SOCIMIMRPRF +0.56%81 3-Year ROIIC % is 7.00 as of Dec. 2025, which is 122% above its 10-year median of 3.15. 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 698 REITs companies, Merlin Properties SOCIMI ranks better than 70.2% on this metric.
3-Year Return on Invested Incremental Capital (3-Year ROIIC %) measures the change in earnings as a percentage of change in investment over 3-year.
Merlin Properties SOCIMI's 3-Year ROIIC % for the quarter that ended in Dec. 2025 was 7.00%. High ROIIC is generally an indication that your business is capital efficient or has a higher operating leverage.
The industry rank for Merlin Properties SOCIMI's 3-Year ROIIC % or its related term are showing as below:
MRPRF's 3-Year ROIIC % is ranked better than 70.2% of 698
companies
in the REITs industry
Industry Median: 3.505
vs MRPRF: 7.00
Return on Incremental Invested Capital (ROIIC) is an extension of Return on Investment Capital (ROIC). ROIC % tells investors how efficiently that profitability is earned per dollar of company capital. ROIIC narrows the focus even further and shows how profitable each additional unit of capital investment could be. ROIIC % is a more powerful metric than ROIC because it measures how much money the company can generate going forward on future capital investments.
High ROIIC is generally an indication that your business is capital efficient or has a higher operating leverage.
Be Aware
It's important to keep in mind that when tracking ROIIC, the metric is better suited to forecasting the trend of future returns rather than measuring current return on investment.
Merlin Properties SOCIMI 3-Year ROIIC % Related Terms
Merlin Properties SOCIMI 3-Year ROIIC % 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 3-Year ROIIC %, along with its competitors' market caps and 3-Year ROIIC % 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 3-Year ROIIC % vs REITs Industry
For the REITs industry and Real Estate sector, Merlin Properties SOCIMI's 3-Year ROIIC % distribution charts can be found below:
* The bar in red indicates where Merlin Properties SOCIMI's 3-Year ROIIC % 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.
** Annual data of NOPAT and Invested Capital was used to calculate 3-Year ROIIC %.
*** Please be aware that the ROIIC (Return on Invested Capital) calculations are based on company-level data using the primary share class. The calculated data provided is for demonstration purposes and may slightly differ from the results displayed in the title due to potential variations caused by currency exchange rate differences throughout the year.
Merlin Properties SOCIMI (MRPRF) has a 3-Year ROIIC % of 7.00 as of Dec. 2025. 3-Year ROIIC % measures the change in earnings as a percentage of change in investment over 3-year. View historical data on Merlin Properties SOCIMI and its competitors. This is 122% above median its historical median of 3.15. According to the industry distribution chart, Merlin Properties SOCIMI ranks #208 out of 698 companies in the REITs industry, placing it in the top 29.8%.
Is Merlin Properties SOCIMI's 3-Year ROIIC % too high?
Merlin Properties SOCIMI's current 3-Year ROIIC % of 7.00 is 122% above median its 10-year median of 3.15. The REITs industry median 3-Year ROIIC % is 3.51. Merlin Properties SOCIMI's value of 7.00 is 99.7% above this industry median. Based on the distribution chart, Merlin Properties SOCIMI ranks #208 out of 698 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 3-Year ROIIC % compare to BXP and ARE?
According to the REITs industry distribution chart, Merlin Properties SOCIMI ranks #208 out of 698 companies for 3-Year ROIIC %. This puts Merlin Properties SOCIMI in the upper half of its industry. The industry median 3-Year ROIIC % is 3.51. Merlin Properties SOCIMI's value of 7.00 is 99.7% above this benchmark. While the company's 10-year median is 3.15 vs. the industry median of 3.51, 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 3-Year ROIIC % for a REITs company?
The median 3-Year ROIIC % among REITs companies is 3.51, based on 698 companies in the industry. Companies in the top quartile (top 25%) have a 3-Year ROIIC % significantly above this median, while those in the bottom quartile fall well below. However, 3-Year ROIIC % should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Merlin Properties SOCIMI's current 3-Year ROIIC % of 7.00 is 99.7% 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 3-Year ROIIC % mean?
A high 3-Year ROIIC % can signal that a stock is expensive relative to its fundamentals. 3-Year ROIIC % measures the change in earnings as a percentage of change in investment over 3-year. View historical data on Merlin Properties SOCIMI and its competitors. For the REITs industry, the median 3-Year ROIIC % is 3.51 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Merlin Properties SOCIMI's current 3-Year ROIIC % is 7.00, which is 122% above median its own 10-year median of 3.15. 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 3-Year ROIIC % is 7.00, which is 122% above median its 10-year median of 3.15 and 99.7% above the REITs industry median of 3.51. 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 3-Year ROIIC % calculated?
3-Year ROIIC % is calculated from a company's financial statements. For Merlin Properties SOCIMI (MRPRF), the current 3-Year ROIIC % is 7.00 as of Dec. 2025. 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:
3-Year ROIIC %: 7.00 (122% above median its 10-year median of 3.15)
GF Value™: $12.51 vs. price of $17.90 (43.1% above fair value)
Industry Position: 99.7% above the REITs median (#208 of 698)
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.
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