EN DE
STOCK COMPARISON

KB Star REIT Co. vs Merlin Properties SOCIMI: Fair Value & Quality

Both stocks run through our valuation models. Here is how KB Star REIT Co. (432320) and Merlin Properties SOCIMI (MRL) compare, as of Aug 11, 2026.

As of Aug 11, 2026, Fair Value Calculator sees Merlin Properties SOCIMI as the less overvalued of the two: KB Star REIT Co. trades at KRW 1,405 versus a fair value of KRW 298 (-79%), while Merlin Properties SOCIMI trades at €14.55 versus €10.51 (-28%).
KB Star REIT Co.
432320.KO · KRW · Energy
-79%
upside to fair value
overvalued
PriceKRW 1,405
Fair ValueKRW 298
Quality41/100
Merlin Properties SOCIMI
MRL.MC · EUR · Real Estate
-28%
upside to fair value
overvalued
Price€14.55
Fair Value€10.51
Quality53/100

Head-to-head numbers

Green value = the better side for that row (for valuation multiples: lower = cheaper).

KB Star REIT Co.Merlin Properties SOCIMI
Valuation
—P/E (TTM)11.0×
—P/S (TTM)18.63×
—P/B1.34×
—EV/EBITDA31.9×
—PEG1.31×
23.6%Dividend yield—
KRW 340Dividend per share—
Profitability
0%Net margin134%
0%Operating margin74%
—Return on equity9%
0%Return on assets2%
Growth
0%Revenue growth (YoY)10%
—Avg. growth/yr (3Y)7.1%
—Avg. growth/yr (5Y)3.9%
Balance & size
1.42×Debt / equity0.52×
$114MMarket cap$11B
weakGrowth qualitymixed

Merlin Properties SOCIMI leads: 0 to 5 metric wins.

Dash = not meaningfully computable, for example with negative equity.

Quality in detail

The quality score, broken down into the same factor families as on the stock page, 0 to 100 per family.

KB Star REIT Co.of which business quality 45 · market factors 13 Merlin Properties SOCIMIof which business quality 54 · market factors 60
ProfitabilityMargins and returns on capital today
25
39
Quality GrowthAre margins and returns improving?
41
63
CashflowEarnings quality: real cash, not paper profit
100
76
Fin. StrengthBalance sheet, leverage, solvency risk
21
57
InvestmentDisciplined investing over empire-building
33
81
Low VolatilityCalm price path (market factor)
34
74
MomentumPrice trend over the last 3–12 months (market factor)
4
50
52W MomentumDistance to the 52-week high (market factor)
4
59
Net IssuanceBuybacks instead of dilution
40
8

What the models say

The median fair value (base case) per model family, each in the currency of its trading venue. Green = above the current price, red = below.

KB Star REIT Co.

Dividend DiscountKRW 3,643
MultiplesKRW 548
Asset-BasedKRW 2,320
Economic ProfitKRW 2,290

2 of 6 models see the stock below the current price.

Merlin Properties SOCIMI

DCF Models€7.82
Dividend Discount€3.25
Multiples€19.96
Asset-Based€8.74
Growth DCF€7.52
Economic Profit€12.30

10 of 15 models see the stock below the current price.

Scenario ranges

From our cautious bear case to the optimistic bull case. The white tick is the current price: left of fair value means room to run.

KB Star REIT Co.
Bear KRW 223Fair Value KRW 298Bull KRW 1,191
KRW 1,405 = current price (white tick)
Merlin Properties SOCIMI
Bear €9.54Fair Value €10.51Bull €15.79
€14.55 = current price (white tick)

Compare two other stocks

Tap a field and type again, ticker or company name.

Free, no sign-up

Ranked within their sector

Where each stock sits within its sector peer group. Band = middle 50% of peers, tick = median, dot = this stock.

KB Star REIT Co. · Energy

Quality score41 · below median
Fair value upside-79% · bottom 25%

Merlin Properties SOCIMI · Real Estate

Quality score53 · above median
Fair value upside-28% · below median

Bottom line

As of Aug 11, 2026, Fair Value Calculator sees Merlin Properties SOCIMI as the less overvalued of the two: KB Star REIT Co. trades at KRW 1,405 versus a fair value of KRW 298 (-79%), while Merlin Properties SOCIMI trades at €14.55 versus €10.51 (-28%).

Merlin Properties SOCIMI has the higher quality score (53/100).

See the full analysis →
KB Star REIT Co. · Merlin Properties SOCIMI

More comparisons

Popular match-ups from the same sectors, all with fair value and quality score.

Related to KB Star REIT Co.

Alphabet Inc Class C vs Verizon CommunicationsAlphabet Inc Class C vs At&tAlphabet Inc Class C vs NetEaseAmazon.com vs Toyota Motor Corporation

Related to Merlin Properties SOCIMI

Amazon.com vs PDD HoldingsAmazon.com vs Sony GroupMeta Platforms vs Verizon CommunicationsMeta Platforms vs At&t
Free · Top-25 report

See the undervalued quality stocks every month

Just your email for the monthly Top-25 report of the most undervalued quality stocks, with fair value, quality and price target. Plus 14 days of Pro to try, no card.

Free. You confirm by email (double opt-in) and can unsubscribe anytime in one click. Not financial advice.

A model-based valuation snapshot from 21 models. Values change with price and fundamentals; the date shown above applies.