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Mercialys

BATS-CHIXE:MERYP
Snowflake Description

Established dividend payer and good value.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
MERYP
BATS-CHIXE
€605M
Market Cap
  1. Home
  2. GB
  3. Real Estate
Company description

Mercialys is one of the top real estate companies in France and Europe, specializing in the enhancement, transformation and promotion of shopping centers. The last earnings update was 14 days ago. More info.


Add to Portfolio Compare Print
  • Mercialys has significant price volatility in the past 3 months.
MERYP Share Price and Events
7 Day Returns
1.7%
BATS-CHIXE:MERYP
-4.1%
GB REITs
-2.4%
GB Market
1 Year Returns
-48.3%
BATS-CHIXE:MERYP
-24.4%
GB REITs
-25.9%
GB Market
MERYP Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Mercialys (MERYP) 1.7% -37% -47.9% -48.3% -63.5% -72.8%
GB REITs -4.1% -23.8% -31.5% -24.4% -23.4% -29.9%
GB Market -2.4% -18% -29.1% -25.9% -26.6% -26.1%
1 Year Return vs Industry and Market
  • MERYP underperformed the REITs industry which returned -24.4% over the past year.
  • MERYP underperformed the Market in United Kingdom of Great Britain and Northern Ireland which returned -25.9% over the past year.
Price Volatility
MERYP
Industry
5yr Volatility vs Market
Related Companies

MERYP Value

 Is Mercialys undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of Mercialys to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for Mercialys.

BATS-CHIXE:MERYP Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity using Funds From Operations
Levered Funds From Operations Average of 4 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 7.5%
Perpetual Growth Rate 10-Year GB Government Bond Rate 0.5%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for BATS-CHIXE:MERYP
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year GB Govt Bond Rate 0.5%
Equity Risk Premium S&P Global 6.1%
REITs Unlevered Beta Simply Wall St/ S&P Global 0.45
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.454 (1 + (1- 33%) (249.02%))
1.141
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.14
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 0.53% + (1.141 * 6.07%)
7.46%

Discounted Cash Flow Calculation for BATS-CHIXE:MERYP using 2 Stage Free Cash Flow to Equity using Funds From Operations Model

BATS-CHIXE:MERYP Discount to Share Price
Calculation Result
Non-primary Listing Adjustment Factor 1 share in BATS-CHIXE:MERYP represents 0.98485x of ENXTPA:MERY
(This could be a different class, a depositary receipt, a different currency, or all of these things.)
0.98485x
Value per Share
(Listing Adjusted, EUR)
= Value per Share (EUR) x Listing Adjustment Factor
= € 17.79 x 0.98485
€17.52
Value per share (EUR) From above. €17.52
Current discount Discount to share price of €6.50
= -1 x (€6.50 - €17.52) / €17.52
62.9%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

Current Discount
Amount off the current price Mercialys is available for.
Intrinsic value
>50%
Share price is €6.5 vs Future cash flow value of €17.52
Current Discount Checks
For Mercialys to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Mercialys's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • Mercialys's share price is below the future cash flow value, and at a substantial discount (> 40%).
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Mercialys's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Mercialys's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
BATS-CHIXE:MERYP PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-12-31) in EUR €0.98
ENXTPA:MERY Share Price ** ENXTPA (2020-04-03) in EUR €6.6
United Kingdom of Great Britain and Northern Ireland REITs Industry PE Ratio Median Figure of 38 Publicly-Listed REITs Companies 12.58x
United Kingdom of Great Britain and Northern Ireland Market PE Ratio Median Figure of 748 Publicly-Listed Companies 12.31x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Mercialys.

BATS-CHIXE:MERYP PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= ENXTPA:MERY Share Price ÷ EPS (both in EUR)

= 6.6 ÷ 0.98

6.71x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Mercialys is good value based on earnings compared to the GB REITs industry average.
  • Mercialys is good value based on earnings compared to the United Kingdom of Great Britain and Northern Ireland market.
Price based on expected Growth
Does Mercialys's expected growth come at a high price?
Raw Data
BATS-CHIXE:MERYP PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 6.71x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 4 Analysts
0.9%per year
United Kingdom of Great Britain and Northern Ireland REITs Industry PEG Ratio Median Figure of 22 Publicly-Listed REITs Companies 0.67x
United Kingdom of Great Britain and Northern Ireland Market PEG Ratio Median Figure of 517 Publicly-Listed Companies 0.97x

*Line of best fit is calculated by linear regression .

BATS-CHIXE:MERYP PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 6.71x ÷ 0.9%

7.89x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Mercialys is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on Mercialys's assets?
Raw Data
BATS-CHIXE:MERYP PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-12-31) in EUR €7.17
ENXTPA:MERY Share Price * ENXTPA (2020-04-03) in EUR €6.6
United Kingdom of Great Britain and Northern Ireland REITs Industry PB Ratio Median Figure of 54 Publicly-Listed REITs Companies 0.73x
United Kingdom of Great Britain and Northern Ireland Market PB Ratio Median Figure of 1,322 Publicly-Listed Companies 1.06x
BATS-CHIXE:MERYP PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= ENXTPA:MERY Share Price ÷ Book Value per Share (both in EUR)

= 6.6 ÷ 7.17

0.92x

* Primary Listing of Mercialys.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Mercialys is overvalued based on assets compared to the GB REITs industry average.
X
Value checks
We assess Mercialys's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the REITs industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the REITs industry average (and greater than 0)? (1 check)
  5. Mercialys has a total score of 4/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

MERYP Future Performance

 How is Mercialys expected to perform in the next 1 to 3 years based on estimates from 4 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
0.9%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Mercialys expected to grow at an attractive rate?
  • Mercialys's earnings growth is expected to exceed the low risk savings rate of 0.5%.
Growth vs Market Checks
  • Mercialys's earnings growth is positive but not above the United Kingdom of Great Britain and Northern Ireland market average.
  • Mercialys's revenues are expected to decrease over the next 1-3 years, this is below the United Kingdom of Great Britain and Northern Ireland market average.
Annual Growth Rates Comparison
Raw Data
BATS-CHIXE:MERYP Future Growth Rates Data Sources
Data Point Source Value (per year)
BATS-CHIXE:MERYP Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 4 Analysts 0.9%
BATS-CHIXE:MERYP Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 4 Analysts -0.2%
United Kingdom of Great Britain and Northern Ireland REITs Industry Earnings Growth Rate Market Cap Weighted Average 25.9%
United Kingdom of Great Britain and Northern Ireland REITs Industry Revenue Growth Rate Market Cap Weighted Average 4.8%
United Kingdom of Great Britain and Northern Ireland Market Earnings Growth Rate Market Cap Weighted Average 15.4%
United Kingdom of Great Britain and Northern Ireland Market Revenue Growth Rate Market Cap Weighted Average 2.6%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
BATS-CHIXE:MERYP Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 4 Analyst Estimates (S&P Global) See Below
All numbers in EUR Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
BATS-CHIXE:MERYP Future Estimates Data
Date (Data in EUR Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2022-12-31 187 92 3
2021-12-31 189 159 93 4
2020-12-31 176 158 91 4
2020-04-06
BATS-CHIXE:MERYP Past Financials Data
Date (Data in EUR Millions) Revenue Cash Flow Net Income *
2019-12-31 192 155 90
2019-09-30 191 160 82
2019-06-30 191 165 74
2019-03-31 189 166 77
2018-12-31 187 166 81
2018-09-30 186 160 81
2018-06-30 184 153 82
2018-03-31 185 159 84
2017-12-31 185 164 87
2017-09-30 188 173 98
2017-06-30 190 182 110
2017-03-31 190 166 110

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Mercialys's earnings are expected to grow by 0.9% yearly, however this is not considered high growth (20% yearly).
  • Mercialys's revenue is expected to decrease over the next 1-3 years, this is not considered high growth.
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
BATS-CHIXE:MERYP Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 4 Analyst Estimates (S&P Global) See Below

All data from Mercialys Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

BATS-CHIXE:MERYP Future Estimates Data
Date (Data in EUR Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2022-12-31
2021-12-31 0.98 0.98 0.98 1.00
2020-12-31 0.95 0.95 0.95 1.00
2020-04-06
BATS-CHIXE:MERYP Past Financials Data
Date (Data in EUR Millions) EPS *
2019-12-31 0.98
2019-09-30 0.90
2019-06-30 0.81
2019-03-31 0.84
2018-12-31 0.88
2018-09-30 0.88
2018-06-30 0.89
2018-03-31 0.92
2017-12-31 0.94
2017-09-30 1.07
2017-06-30 1.19
2017-03-31 1.20

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Mercialys is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess Mercialys's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the United Kingdom of Great Britain and Northern Ireland market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the United Kingdom of Great Britain and Northern Ireland market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Mercialys has a total score of 1/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

MERYP Past Performance

  How has Mercialys performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Mercialys's growth in the last year to its industry (REITs).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Mercialys's year on year earnings growth rate was negative over the past 5 years and the most recent earnings are below average.
  • Mercialys's 1-year earnings growth exceeds its 5-year average (11.7% vs -7.3%)
  • Mercialys's earnings growth has exceeded the GB REITs industry average in the past year (11.7% vs -21.6%).
Earnings and Revenue History
Mercialys's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Mercialys Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

BATS-CHIXE:MERYP Past Revenue, Cash Flow and Net Income Data
Date (Data in EUR Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-12-31 191.85 90.34 12.41
2019-09-30 191.24 82.13 12.72
2019-06-30 190.62 73.92 13.02
2019-03-31 188.95 77.38 12.80
2018-12-31 187.29 80.85 12.58
2018-09-30 185.82 81.18 12.21
2018-06-30 184.35 81.51 11.84
2018-03-31 184.84 84.09 12.12
2017-12-31 185.32 86.67 12.40
2017-09-30 187.60 98.26 12.35
2017-06-30 189.89 109.86 12.31
2017-03-31 189.84 109.96 12.41
2016-12-31 189.80 110.05 12.52
2016-09-30 184.76 98.98 12.85
2016-06-30 179.73 87.91 13.18
2016-03-31 174.34 83.76 12.69
2015-12-31 168.96 79.61 12.20
2015-09-30 162.93 85.60 11.68
2015-06-30 156.91 91.59 11.16
2015-03-31 154.85 122.03 10.81
2014-12-31 152.79 152.46 10.47
2014-09-30 151.60 145.67 10.10
2014-06-30 150.41 138.87 9.74
2014-03-31 149.68 131.11 9.36
2013-12-31 148.96 123.35 8.98
2013-09-30 152.17 153.24 8.93
2013-06-30 155.37 183.13 8.88

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • Mercialys has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Mercialys used its assets less efficiently than the GB REITs industry average last year based on Return on Assets.
  • Mercialys's use of capital deteriorated last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Mercialys's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the REITs industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Mercialys has a total score of 2/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

MERYP Health

 How is Mercialys's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up Mercialys's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Mercialys's short term (1 year) commitments are greater than its holdings of cash and other short term assets.
  • Mercialys's long term commitments exceed its cash and other short term assets.
Balance sheet
This treemap shows a more detailed breakdown of Mercialys's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • High level of physical assets or inventory.
  • Debt is not covered by short term assets, assets are 0.1x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Mercialys Company Filings, last reported 3 months ago.

BATS-CHIXE:MERYP Past Debt and Equity Data
Date (Data in EUR Millions) Total Equity Total Debt Cash & Short Term Investments
2019-12-31 860.03 1,496.59 72.02
2019-09-30 860.03 1,496.59 72.02
2019-06-30 848.52 1,645.70 119.95
2019-03-31 848.52 1,645.70 119.95
2018-12-31 879.55 1,899.94 377.11
2018-09-30 879.55 1,899.94 377.11
2018-06-30 892.47 1,877.00 383.30
2018-03-31 892.47 1,877.00 383.30
2017-12-31 920.54 1,658.85 196.91
2017-09-30 920.54 1,658.85 196.91
2017-06-30 923.09 1,507.55 92.75
2017-03-31 923.09 1,507.55 92.75
2016-12-31 934.22 1,552.46 15.58
2016-09-30 934.22 1,552.46 15.58
2016-06-30 913.87 1,514.88 45.25
2016-03-31 913.87 1,514.88 45.25
2015-12-31 916.18 1,408.29 13.03
2015-09-30 916.18 1,408.29 13.03
2015-06-30 841.14 1,172.55 9.31
2015-03-31 841.14 1,172.55 9.31
2014-12-31 783.75 1,165.75 121.02
2014-09-30 783.75 1,165.75 121.02
2014-06-30 767.29 846.22 6.59
2014-03-31 767.29 846.22 6.59
2013-12-31 740.36 774.15 15.80
2013-09-30 740.36 774.15 15.80
2013-06-30 703.95 849.26 87.47
  • Mercialys's level of debt (174%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (148.6% vs 174% today).
  • Debt is not well covered by operating cash flow (10.4%, less than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 3.9x coverage).
X
Financial health checks
We assess Mercialys's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Mercialys has a total score of 1/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

MERYP Dividends

 What is Mercialys's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
14.39%
Current annual income from Mercialys dividends. Estimated to be 14.64% next year.
If you bought €2,000 of Mercialys shares you are expected to receive €288 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Mercialys's pays a higher dividend yield than the bottom 25% of dividend payers in United Kingdom of Great Britain and Northern Ireland (2.66%).
  • Mercialys's dividend is above the markets top 25% of dividend payers in United Kingdom of Great Britain and Northern Ireland (7.4%).
Upcoming dividend payment

Purchase Mercialys before the 'Ex-dividend' to receive their next dividend payment.

Dividends are usually paid every 3 or 6 months, you can time your share purchase to take advantage of upcoming dividend payments.
Dividend payment calendar
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
BATS-CHIXE:MERYP Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 4 Analyst Estimates (S&P Global) See Below
United Kingdom of Great Britain and Northern Ireland REITs Industry Average Dividend Yield Market Cap Weighted Average of 48 Stocks 5.5%
United Kingdom of Great Britain and Northern Ireland Market Average Dividend Yield Market Cap Weighted Average of 587 Stocks 5.7%
United Kingdom of Great Britain and Northern Ireland Minimum Threshold Dividend Yield 10th Percentile 1.3%
United Kingdom of Great Britain and Northern Ireland Bottom 25% Dividend Yield 25th Percentile 2.7%
United Kingdom of Great Britain and Northern Ireland Top 25% Dividend Yield 75th Percentile 7.4%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

BATS-CHIXE:MERYP Future Dividends Estimate Data
Date (Data in €) Dividend per Share (annual) Avg. No. Analysts
2022-12-31 1.09 3.00
2021-12-31 0.99 4.00
2020-12-31 0.86 4.00
2020-04-06
BATS-CHIXE:MERYP Past Annualized Dividends Data
Date (Data in €) Dividend per share (annual) Avg. Yield (%)
2020-04-01 0.950 14.513
2019-03-18 1.120 10.031
2019-02-13 1.120 8.745
2018-07-25 1.180 8.838
2018-04-23 1.090 7.032
2017-04-19 1.060 6.193
2016-10-12 0.860 4.734
2016-03-24 1.330 6.608
2016-02-10 1.330 6.800
2015-02-11 1.240 6.040
2014-07-22 1.180 6.492
2014-03-21 1.160 7.119
2013-05-14 0.930 6.004
2012-07-23 0.920 5.629
2012-03-09 1.210 7.186
2011-07-25 1.300 4.979
2011-04-01 2.520 8.687
2011-02-09 1.260 4.562
2010-07-27 1.060 3.848
2010-03-01 1.000 4.085
2010-02-15 1.000 3.885
2009-04-17 0.880 3.598

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Dividends per share have been volatile in the past 10 years (annual drop of over 20%).
  • Dividends per share have increased over the past 10 years.
Current Payout to shareholders
What portion of Mercialys's earnings are paid to the shareholders as a dividend.
  • Dividends paid are covered by earnings (1.2x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be thoroughly covered by earnings (106.8x coverage).
X
Income/ dividend checks
We assess Mercialys's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 1.3%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Mercialys afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Mercialys has a total score of 5/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

MERYP Management

 What is the CEO of Mercialys's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Vincent Ravat
COMPENSATION €703,403
AGE 45
TENURE AS CEO 1.2 years
CEO Bio

Mr. Vincent Ravat has been the Chief Executive Officer at Mercialys since February 13, 2019. He was Chief Operating Officer and MD of Mercialys until February 13, 2019. He joined Mercialys in January 2014 as Deputy CEO. Previously, he served from 2011 as Director of Operations France for Hammerson, a real estate development and management group, listed on the London Stock Exchange, operating in the United Kingdom and France. From 2000 to 2010, he held various positions in Asia, Switzerland, Spain and France with the King Jouet and Distritoys SA group. He is a graduate of the ESC Rouen business school. Other offices held in 2016 and in effect at February 14, 2017: Within the Mercialys Group - Chairman of Mercialys Exploitation Outside the Mercialys Group - Director of the Institut pour la Ville & le Commerce Other offices held during the past five years (in addition to those listed above) - Member of the Continental Europe Management Board of Hammerson plc; - Member of the Hammerson plc French Management Board.

CEO Compensation
  • Vincent's compensation has been consistent with company performance over the past year, both up more than 20%.
  • Vincent's remuneration is lower than average for companies of similar size in United Kingdom of Great Britain and Northern Ireland.
Management Team Tenure

Average tenure of the Mercialys management team in years:

2.6
Average Tenure
  • The tenure for the Mercialys management team is about average.
Management Team

Vincent Ravat

TITLE
Chief Executive Officer
COMPENSATION
€703K
AGE
45
TENURE
1.2 yrs

Élizabeth Blaise

TITLE
Deputy CEO
AGE
43
TENURE
5.6 yrs

Alexandre Leroy

TITLE
Investor Relations Manager

Christophe Rigo

TITLE
Human Resources Director
TENURE
1.6 yrs

Nicolas Joly

TITLE
Deputy Director-General & Executive VP
TENURE
3.6 yrs
Board of Directors Tenure

Average tenure and age of the Mercialys board of directors in years:

6
Average Tenure
58.5
Average Age
  • The tenure for the Mercialys board of directors is about average.
Board of Directors

Éric Le Gentil

TITLE
Chairman
COMPENSATION
€1M
AGE
59
TENURE
7.2 yrs

Élisabeth Cunin-Diéterlé

TITLE
Independent Director
COMPENSATION
€26K
AGE
59
TENURE
7.8 yrs

Dominique Dudan

TITLE
Independent Director
COMPENSATION
€26K
AGE
65
TENURE
2 yrs

Stéphanie Bensimon

TITLE
Independent Director
COMPENSATION
€13K
AGE
43
TENURE
1.8 yrs

Jacques Dumas

TITLE
Non-independent Director
COMPENSATION
€13K
AGE
67
TENURE
14.7 yrs

Michel Savart

TITLE
Non-independent Director
COMPENSATION
€20K
AGE
57
TENURE
9.9 yrs

Bruno Servant

TITLE
Independent Director
COMPENSATION
€14K
AGE
59
TENURE
6 yrs

Ingrid Nappi-Choulet

TITLE
Independent Director
COMPENSATION
€23K
AGE
53
TENURE
6 yrs

Victoire Boissier

TITLE
Independent Director
COMPENSATION
€24K
AGE
52
TENURE
4 yrs

Pascale Roque

TITLE
Independent Director
COMPENSATION
€24K
AGE
58
TENURE
2.5 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month open market individual insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (€) Value (€)
X
Management checks
We assess Mercialys's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Mercialys has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

MERYP News

Simply Wall St News

MERYP Company Info

Description

Mercialys is one of the top real estate companies in France and Europe, specializing in the enhancement, transformation and promotion of shopping centers. Mercialys owns a real estate portfolio of 55 sites, with 873,000 sq.m of retail space throughout metropolitan France and some of the French overseas territories. The company develops a global vision for its sites so they can constantly evolve, anticipating changes in consumer buying behavior. It is rolling out an ambitious development strategy around three key areas: deploying precision merchandising, with an approach tailored to the specific features of each catchment area, setting up service platforms in line with customers’ needs under one dedicated cross-business identity “G La Galerie”, and adopting a modular layout design for centers, opening up opportunities for new forms of retail. As outstanding partners for day-to-day life, its shopping centers are focused on proximity, innovation and local engagement, on a human scale. They represent a different way of looking at retail, with agility and pragmatism, creating value for all the stakeholders involved.

Details
Name: Mercialys
MERYP
Exchange: BATS-CHIXE
Founded: 1999
€605,242,413
91,703,396
Website: http://www.mercialys.com
Address: Mercialys
148, rue de l’Université,
Paris,
Languedoc-Roussillon, 75007,
France
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
ENXTPA MERY Ordinary Shares Euronext Paris FR EUR 12. Oct 2005
OTCPK MEIY.F Ordinary Shares Pink Sheets LLC US USD 12. Oct 2005
DB M8Y Ordinary Shares Deutsche Boerse AG DE EUR 12. Oct 2005
LSE 0IQU Ordinary Shares London Stock Exchange GB EUR 12. Oct 2005
BATS-CHIXE MERYP Ordinary Shares BATS 'Chi-X Europe' GB EUR 12. Oct 2005
Number of employees
Current staff
Staff numbers
108
Mercialys employees.
Industry
Retail REITs
Real Estate
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2020/04/06 19:44
End of day share price update: 2020/04/03 00:00
Last estimates confirmation: 2020/04/03
Last earnings filing: 2020/03/23
Last earnings reported: 2019/12/31
Last annual earnings reported: 2019/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.