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STOCK COMPARISON

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

Both stocks run through our valuation models. Here is how SamsungFN REIT Co. (448730) 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: SamsungFN REIT Co. trades at KRW 5,530 versus a fair value of KRW 925 (-83%), while Merlin Properties SOCIMI trades at €14.55 versus €10.51 (-28%).
SamsungFN REIT Co.
448730.KO · KRW · Real Estate
-83%
upside to fair value
overvalued
PriceKRW 5,530
Fair ValueKRW 925
Quality61/100
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).

SamsungFN REIT Co.Merlin Properties SOCIMI
Valuation
P/E (TTM)11.0×
P/S (TTM)18.63×
P/B1.34×
34.1×EV/EBITDA31.9×
PEG1.31×
5.0%Dividend yield
KRW 276Dividend per share
Profitability
0%Net margin134%
0%Operating margin74%
Return on equity9%
0%Return on assets2%
Growth
0%Revenue growth (YoY)10%
25.3%Avg. growth/yr (3Y)7.1%
Avg. growth/yr (5Y)3.9%
Balance & size
0.50×Debt / equity0.52×
$350MMarket cap$11B
mixedGrowth qualitymixed

Merlin Properties SOCIMI leads: 2 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.

SamsungFN REIT Co.of which business quality 59 · market factors 54 Merlin Properties SOCIMIof which business quality 54 · market factors 60
ProfitabilityMargins and returns on capital today
28
39
Quality GrowthAre margins and returns improving?
50
63
CashflowEarnings quality: real cash, not paper profit
100
76
Fin. StrengthBalance sheet, leverage, solvency risk
22
57
InvestmentDisciplined investing over empire-building
100
81
Low VolatilityCalm price path (market factor)
56
74
MomentumPrice trend over the last 3–12 months (market factor)
52
50
52W MomentumDistance to the 52-week high (market factor)
55
59
Net IssuanceBuybacks instead of dilution
80
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.

SamsungFN REIT Co.

DCF ModelsKRW 1,215
MultiplesKRW 607
Asset-BasedKRW 2,955
Growth DCFKRW 1,967
Economic ProfitKRW 2,825

10 of 10 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.

SamsungFN REIT Co.
Bear KRW 455Fair Value KRW 925Bull KRW 2,078
KRW 5,530 = current price (white tick)
Merlin Properties SOCIMI
Bear €9.54Fair Value €10.51Bull €15.79
€14.55 = current price (white tick)

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Ranked within their sector

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

SamsungFN REIT Co. · Real Estate

Quality score61 · Top 25%
Fair value upside-83% · 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: SamsungFN REIT Co. trades at KRW 5,530 versus a fair value of KRW 925 (-83%), while Merlin Properties SOCIMI trades at €14.55 versus €10.51 (-28%).

SamsungFN REIT Co. has the higher quality score (61/100).

See the full analysis →

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