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STOCK COMPARISON

Inmobiliaria Colonial vs Merlin Properties SOCIMI: Fair Value & Quality

Both stocks run through our valuation models. Here is how Inmobiliaria Colonial (COL) and Merlin Properties SOCIMI (MRL) compare, as of Sep 22, 2026.

As of Sep 22, 2026, Fair Value Calculator sees Inmobiliaria Colonial as the less overvalued of the two: Inmobiliaria Colonial trades at €5.12 versus a fair value of €3.70 (-28%), while Merlin Properties SOCIMI trades at €12.52 versus €4.80 (-62%).
Inmobiliaria Colonial
COL.MC · EUR · Real Estate
-28%
upside to fair value
overvalued
Price€5.12
Fair Value€3.70
Quality55/100
Merlin Properties SOCIMI
MRL.MC · EUR · Real Estate
-62%
upside to fair value
overvalued
Price€12.52
Fair Value€4.80
Quality53/100
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Head-to-head numbers

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

Inmobiliaria ColonialMerlin Properties SOCIMI
Valuation
9.7×P/E (TTM)9.7×
8.90×P/S (TTM)18.73×
0.65×P/B1.35×
24.5×EV/EBITDA32.0×
—PEG1.31×
−27.7%Fair value upside−61.6%
6.9%Dividend yield1.3%
Profitability
80%Operating margin74%
1.00×EBIT margin trend (5Y)2.26×
6%Return on equity9%
2%Return on assets2%
Growth
7%Revenue growth (YoY)10%
5.4%Avg. growth/yr (3Y)7.1%
4.1%Avg. growth/yr (5Y)3.9%
−10.1%Value creation/yr+42.3%
Balance & size
3.2×Interest coverage (EBIT/interest)6.6×
0.75×Debt / equity0.52×
$4BMarket cap$11B
mixedGrowth qualitymixed

Inmobiliaria Colonial leads: 7 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.

Inmobiliaria Colonialof which business quality 51 · market factors 52 Merlin Properties SOCIMIof which business quality 54 · market factors 44
ProfitabilityMargins and returns on capital today
34
39
Quality GrowthAre margins and returns improving?
51
63
CashflowEarnings quality: real cash, not paper profit
76
76
Fin. StrengthBalance sheet, leverage, solvency risk
37
57
InvestmentDisciplined investing over empire-building
100
81
Low VolatilityCalm price path (market factor)
66
74
MomentumPrice trend over the last 3–12 months (market factor)
46
33
52W MomentumDistance to the 52-week high (market factor)
48
30
Net IssuanceShare count: buybacks or dilution?
22
8

What the models say

How far the median fair value (base case) per model family sits from the current price, in percent. The amount in the currency of the trading venue is shown underneath.

above the price, more than 15% above close to the price, 85% to 115% of the price below the price, more than 15% below

Model familyInmobiliaria ColonialPrice €5.12Merlin Properties SOCIMIPrice €12.52
DCF Models-56%below the price€2.26-38%below the price€7.82
Dividend Discount+25%above the price€6.41-74%below the price€3.25
Multiples-12%close to the price€4.51+59%above the price€19.96
Asset-Based+26%above the price€6.43-30%below the price€8.74
Growth DCF-74%below the price€1.33-40%below the price€7.52
Economic Profit+51%above the price€7.74-2%close to the price€12.30
Minimum-74%below the price€1.33-74%below the price€3.25
Maximum+51%above the price€7.74+59%above the price€19.96
Median+7%close to the price€5.46-34%below the price€8.28
Geometric mean-21%below the price€4.03-31%below the price€8.62

Minimum, maximum, median and geometric mean refer to the family values in this table. Geometric because deviations are ratios: half the price and twice the price average to 100%, not 125%.

Inmobiliaria Colonial: 9 of 15 models see the stock below the current price.

Merlin Properties SOCIMI: 10 of 15 models see the stock below the current price.

Scenario ranges

From our cautious bear scenario to the optimistic bull scenario. The white tick is the current price (value above it), the green tick the fair value (value below it): if the price sits left of the fair value, there is room to rise.

Inmobiliaria Colonial
Price €5.12
Fair Value €3.70
Bear €3.70Bull €5.15
Merlin Properties SOCIMI
Price €12.52
Fair Value €4.80
Bear €1.55Bull €9.54

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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.

Inmobiliaria Colonial · Real Estate

Quality score55 · above median
Fair value upside-28% · below median

Merlin Properties SOCIMI · Real Estate

Quality score53 · above median
Fair value upside-62% · bottom 25%

Bottom line

As of Sep 22, 2026, Fair Value Calculator sees Inmobiliaria Colonial as the less overvalued of the two: Inmobiliaria Colonial trades at €5.12 versus a fair value of €3.70 (-28%), while Merlin Properties SOCIMI trades at €12.52 versus €4.80 (-62%).

Inmobiliaria Colonial has the higher quality score (55/100).

See the full analysis →
Inmobiliaria Colonial · Merlin Properties SOCIMI

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A model-based valuation snapshot from 26 models. Values change with price and fundamentals; the date shown above applies.