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STOCK COMPARISON

Great Portland Estates vs Merlin Properties SOCIMI: Fair Value & Quality

Both stocks run through our valuation models. Here is how Great Portland Estates (GPE) and Merlin Properties SOCIMI (MRL) compare, as of Aug 10, 2026.

As of Aug 10, 2026, Fair Value Calculator sees Merlin Properties SOCIMI as the less overvalued of the two: Great Portland Estates trades at £3.36 versus a fair value of £1.90 (-43%), while Merlin Properties SOCIMI trades at €14.77 versus €10.51 (-29%).
Great Portland Estates
GPE.LSE · GBX · Real Estate
-43%
upside to fair value
overvalued
Price£3.36
Fair Value£1.90
Quality37/100
Merlin Properties SOCIMI
MRL.MC · EUR · Real Estate
-29%
upside to fair value
overvalued
Price€14.77
Fair Value€10.51
Quality53/100

Head-to-head numbers

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

Great Portland EstatesMerlin Properties SOCIMI
Valuation
9.0×P/E (TTM)11.0×
14.59×P/S (TTM)18.65×
0.88×P/B1.34×
74.8×EV/EBITDA31.9×
2.22×PEG1.31×
2.4%Dividend yield
£0.08Dividend per share
Profitability
121%Net margin134%
21%Operating margin74%
7%Return on equity9%
1%Return on assets2%
Growth
28%Revenue growth (YoY)10%
8.9%Avg. growth/yr (3Y)7.1%
5.9%Avg. growth/yr (5Y)3.9%
Balance & size
0.37×Debt / equity0.52×
$2BMarket cap$11B
expensiveGrowth qualitymixed

Great Portland Estates leads: 7 to 6 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.

Great Portland Estatesof which business quality 36 · market factors 60 Merlin Properties SOCIMIof which business quality 54 · market factors 61
ProfitabilityMargins and returns on capital today
36
39
Quality GrowthAre margins and returns improving?
51
63
CashflowEarnings quality: real cash, not paper profit
0
76
Fin. StrengthBalance sheet, leverage, solvency risk
49
57
InvestmentDisciplined investing over empire-building
82
81
Low VolatilityCalm price path (market factor)
72
75
MomentumPrice trend over the last 3–12 months (market factor)
48
52
52W MomentumDistance to the 52-week high (market factor)
66
62
Net IssuanceBuybacks instead of dilution
16
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.

Great Portland Estates

Dividend Discount£0.91
Multiples£4.21
Asset-Based£3.53
Economic Profit£4.15

3 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.

Great Portland Estates
Bear £1.42Fair Value £1.90Bull £2.37
£3.36 = current price (white tick)
Merlin Properties SOCIMI
Bear €9.54Fair Value €10.51Bull €15.79
€14.77 = 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.

Great Portland Estates · Real Estate

Quality score37 · bottom 25%
Fair value upside-43% · bottom 25%

Merlin Properties SOCIMI · Real Estate

Quality score53 · above median
Fair value upside-29% · below median

Bottom line

As of Aug 10, 2026, Fair Value Calculator sees Merlin Properties SOCIMI as the less overvalued of the two: Great Portland Estates trades at £3.36 versus a fair value of £1.90 (-43%), while Merlin Properties SOCIMI trades at €14.77 versus €10.51 (-29%).

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

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.