EN DE
STOCK COMPARISON

Mapletree Pan Asia Commercial Trust vs Merlin Properties SOCIMI: Fair Value & Quality

Both stocks run through our valuation models. Here is how Mapletree Pan Asia Commercial Trust (N2IU) and Merlin Properties SOCIMI (MRL) compare, as of Aug 14, 2026.

As of Aug 14, 2026, Fair Value Calculator sees Mapletree Pan Asia Commercial Trust as the less overvalued of the two: Mapletree Pan Asia Commercial Trust trades at S$1.28 versus a fair value of S$1.14 (-11%), while Merlin Properties SOCIMI trades at €14.51 versus €9.81 (-32%).
Mapletree Pan Asia Commercial Trust
N2IU.SG · SGD · Real Estate
-11%
upside to fair value
overvalued
PriceS$1.28
Fair ValueS$1.14
Quality69/100
Merlin Properties SOCIMI
MRL.MC · EUR · Real Estate
-32%
upside to fair value
overvalued
Price€14.51
Fair Value€9.81
Quality53/100

Head-to-head numbers

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

Mapletree Pan Asia Commercial TrustMerlin Properties SOCIMI
Valuation
25.6×P/E (TTM)10.6×
6.07×P/S (TTM)18.66×
0.57×P/B1.34×
16.6×EV/EBITDA31.9×
2.72×PEG1.31×
6.3%Dividend yield
S$0.08Dividend per share
Profitability
30%Net margin134%
71%Operating margin74%
3%Return on equity9%
2%Return on assets2%
Growth
-6%Revenue growth (YoY)10%
1.3%Avg. growth/yr (3Y)7.1%
11.0%Avg. growth/yr (5Y)3.9%
Balance & size
0.54×Debt / equity0.52×
$5BMarket cap$11B
mixedGrowth qualitymixed

Merlin Properties SOCIMI leads: 5 to 8 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.

Mapletree Pan Asia Commercial Trustof which business quality 65 · market factors 56 Merlin Properties SOCIMIof which business quality 54 · market factors 60
ProfitabilityMargins and returns on capital today
32
39
Quality GrowthAre margins and returns improving?
47
63
CashflowEarnings quality: real cash, not paper profit
100
76
Fin. StrengthBalance sheet, leverage, solvency risk
46
57
InvestmentDisciplined investing over empire-building
100
81
Low VolatilityCalm price path (market factor)
98
74
MomentumPrice trend over the last 3–12 months (market factor)
38
51
52W MomentumDistance to the 52-week high (market factor)
37
60
Net IssuanceBuybacks instead of dilution
79
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.

Mapletree Pan Asia Commercial Trust

DCF ModelsS$0.95
MultiplesS$0.84
Asset-BasedS$1.19
Growth DCFS$0.88
Economic ProfitS$1.21

12 of 13 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.

Mapletree Pan Asia Commercial Trust
Bear S$0.63Fair Value S$1.14Bull S$1.14
S$1.28 = current price (white tick)
Merlin Properties SOCIMI
Bear €9.09Fair Value €9.81Bull €11.65
€14.51 = 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.

Mapletree Pan Asia Commercial Trust · Real Estate

Quality score69 · Top 25%
Fair value upside-11% · below median

Merlin Properties SOCIMI · Real Estate

Quality score53 · above median
Fair value upside-32% · below median

Bottom line

As of Aug 14, 2026, Fair Value Calculator sees Mapletree Pan Asia Commercial Trust as the less overvalued of the two: Mapletree Pan Asia Commercial Trust trades at S$1.28 versus a fair value of S$1.14 (-11%), while Merlin Properties SOCIMI trades at €14.51 versus €9.81 (-32%).

Mapletree Pan Asia Commercial Trust has the higher quality score (69/100).

See the full analysis →

More comparisons

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

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.