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STOCK COMPARISON

Inversiones Doalca SOCIMI vs Merlin Properties SOCIMI: Fair Value & Quality

Both stocks run through our valuation models. Here is how Inversiones Doalca SOCIMI (YDOA) and Merlin Properties SOCIMI (MRL) compare, as of Sep 2, 2026.

As of Sep 2, 2026, Fair Value Calculator sees Merlin Properties SOCIMI as the less overvalued of the two: Inversiones Doalca SOCIMI trades at €25.20 versus a fair value of €12.47 (-51%), while Merlin Properties SOCIMI trades at €13.35 versus €9.81 (-27%).
Inversiones Doalca SOCIMI
YDOA.MC · EUR · Real Estate
-51%
upside to fair value
overvalued
Price€25.20
Fair Value€12.47
Quality77/100
Merlin Properties SOCIMI
MRL.MC · EUR · Real Estate
-27%
upside to fair value
overvalued
Price€13.35
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).

Inversiones Doalca SOCIMIMerlin Properties SOCIMI
Valuation
20.7×P/E (TTM)9.8×
14.92×P/S (TTM)18.70×
5.14×P/B1.34×
21.0×EV/EBITDA31.9×
—PEG1.31×
−50.5%Fair value upside−26.5%
—Dividend yield1.3%
Profitability
63%Operating margin74%
1.10×EBIT margin trend (5Y)2.26×
22%Return on equity9%
11%Return on assets2%
Growth
6%Revenue growth (YoY)10%
3.7%Avg. growth/yr (3Y)7.1%
5.2%Avg. growth/yr (5Y)3.9%
+7.3%Value creation/yr+6.2%
Balance & size
84.1×Interest coverage (EBIT/interest)6.6×
0.16×Debt / equity0.52×
$179MMarket cap$11B
healthyGrowth qualitymixed

Inversiones Doalca SOCIMI leads: 8 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.

Inversiones Doalca SOCIMIof which business quality 75 · market factors 61 Merlin Properties SOCIMIof which business quality 54 · market factors 51
ProfitabilityMargins and returns on capital today
67
39
Quality GrowthAre margins and returns improving?
58
63
CashflowEarnings quality: real cash, not paper profit
86
76
Fin. StrengthBalance sheet, leverage, solvency risk
73
57
InvestmentDisciplined investing over empire-building
86
81
Low VolatilityCalm price path (market factor)
100
74
MomentumPrice trend over the last 3–12 months (market factor)
41
39
52W MomentumDistance to the 52-week high (market factor)
51
44
Net IssuanceBuybacks instead of dilution
80
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 familyInversiones Doalca SOCIMIPrice €25.20Merlin Properties SOCIMIPrice €13.35
DCF Models-47%below the price€13.26-41%below the price€7.82
Dividend Discountn/a-76%below the price€3.25
Multiples-49%below the price€12.84+50%above the price€19.96
Asset-Based-85%below the price€3.80-35%below the price€8.74
Growth DCF-49%below the price€12.94-44%below the price€7.52
Economic Profit-67%below the price€8.30-8%close to the price€12.30
Minimum-85%below the price€3.80-76%below the price€3.25
Maximum-47%below the price€13.26+50%above the price€19.96
Median-49%below the price€12.84-38%below the price€8.28
Geometric mean-63%below the price€9.30-35%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%.

Inversiones Doalca SOCIMI: 12 of 13 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 case to the optimistic bull case. The white tick is the current price: left of fair value means room to run.

Inversiones Doalca SOCIMI
Bear €8.66Fair Value €12.47Bull €16.79
€25.20 = current price (white tick)
Merlin Properties SOCIMI
Bear €9.09Fair Value €9.81Bull €11.65
€13.35 = 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.

Inversiones Doalca SOCIMI · Real Estate

Quality score77 · Top 25%
Fair value upside-51% · bottom 25%

Merlin Properties SOCIMI · Real Estate

Quality score53 · above median
Fair value upside-27% · below median

Bottom line

As of Sep 2, 2026, Fair Value Calculator sees Merlin Properties SOCIMI as the less overvalued of the two: Inversiones Doalca SOCIMI trades at €25.20 versus a fair value of €12.47 (-51%), while Merlin Properties SOCIMI trades at €13.35 versus €9.81 (-27%).

Inversiones Doalca SOCIMI has the higher quality score (77/100).

See the full analysis →
Inversiones Doalca SOCIMI · 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.