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STOCK COMPARISON

OUE Commercial Real Estate Investment Trust vs Merlin Properties SOCIMI: Fair Value & Quality

Both stocks run through our valuation models. Here is how OUE Commercial Real Estate Investment Trust (TS0U) and Merlin Properties SOCIMI (MRL) compare, as of Aug 18, 2026.

As of Aug 18, 2026, Fair Value Calculator sees Merlin Properties SOCIMI as the less overvalued of the two: OUE Commercial Real Estate Investment Trust trades at S$0.35 versus a fair value of S$0.14 (-60%), while Merlin Properties SOCIMI trades at €14.34 versus €9.81 (-32%).
OUE Commercial Real Estate Investment Trust
TS0U.SG · SGD · Real Estate
-60%
upside to fair value
overvalued
PriceS$0.35
Fair ValueS$0.14
Quality65/100
Merlin Properties SOCIMI
MRL.MC · EUR · Real Estate
-32%
upside to fair value
overvalued
Price€14.34
Fair Value€9.81
Quality53/100
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Head-to-head numbers

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

OUE Commercial Real Estate Investment TrustMerlin Properties SOCIMI
Valuation
P/E (TTM)10.5×
5.56×P/S (TTM)18.70×
0.47×P/B1.35×
14.6×EV/EBITDA31.9×
0.21×PEG1.31×
6.2%Dividend yield1.3%
S$0.02Dividend per share
Profitability
10%Net margin134%
74%Operating margin74%
1%Return on equity9%
2%Return on assets2%
Growth
-18%Revenue growth (YoY)10%
4.2%Avg. growth/yr (3Y)7.1%
-1.3%Avg. growth/yr (5Y)3.9%
Balance & size
0.48×Debt / equity0.52×
$2BMarket cap$11B
weakGrowth qualitymixed

OUE Commercial Real Estate Investment Trust 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.

OUE Commercial Real Estate Investment Trustof which business quality 62 · market factors 63 Merlin Properties SOCIMIof which business quality 54 · market factors 58
ProfitabilityMargins and returns on capital today
19
39
Quality GrowthAre margins and returns improving?
54
63
CashflowEarnings quality: real cash, not paper profit
99
76
Fin. StrengthBalance sheet, leverage, solvency risk
46
57
InvestmentDisciplined investing over empire-building
94
81
Low VolatilityCalm price path (market factor)
88
74
MomentumPrice trend over the last 3–12 months (market factor)
46
48
52W MomentumDistance to the 52-week high (market factor)
61
58
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.

OUE Commercial Real Estate Investment Trust

DCF ModelsS$0.10
Dividend DiscountS$0.28
MultiplesS$0.09
Asset-BasedS$0.40
Growth DCFS$0.09
Economic ProfitS$0.36

12 of 16 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.

OUE Commercial Real Estate Investment Trust
Bear S$0.07Fair Value S$0.14Bull S$0.26
S$0.35 = current price (white tick)
Merlin Properties SOCIMI
Bear €9.09Fair Value €9.81Bull €11.65
€14.34 = 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.

OUE Commercial Real Estate Investment Trust · Real Estate

Quality score65 · Top 25%
Fair value upside-60% · bottom 25%

Merlin Properties SOCIMI · Real Estate

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

Bottom line

As of Aug 18, 2026, Fair Value Calculator sees Merlin Properties SOCIMI as the less overvalued of the two: OUE Commercial Real Estate Investment Trust trades at S$0.35 versus a fair value of S$0.14 (-60%), while Merlin Properties SOCIMI trades at €14.34 versus €9.81 (-32%).

OUE Commercial Real Estate Investment Trust has the higher quality score (65/100).

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.