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French REIT owning and managing shopping centers and retail galleries, originally spun off from Casino Group.
French REIT owning and managing shopping centers and retail galleries, originally spun off from Casino Group.
Collects rent from shops in its centres under leases that are indexed to inflation, and earns smaller fees from managing and developing properties; as a French REIT it must pay out most of its rental profit as dividends. Several large Casino stores anchor its centres.
In one line: A French, smaller shopping-center REIT like Kimco.
Moat: narrow (installed base, scale). Well-located, mid-size retail centers across France, but exposed to retail tenant health and past Casino ties.
Headquarters: Paris, France · Founded: 2005 · Employees: 199
Size Mercialys (MERY.PA) is a France Real Estate company (Real Estate Development) with a market value of $1.05B, the 138th largest of 206 France companies the cockpit tracks. Shares closed at €10.04 on 6 Nov 2026.
Performance Over six months the shares fell 14.6%, against -12.2% for the median peer and -0.4% for the France market (cap-weighted) — 9th lowest of 21 in its peer set.
Growth Revenue grew 3.2% over the last twelve months (peer median -17.0%); the operating margin is 69.1% (peer median 1.9%).
Valuation It trades at 7.7× forward earnings against a peer median of 12.3× (cheapest of 12).
Credit Mercialys has 4 bonds outstanding ($1.56B), rated BBB by the agencies and trading like BBB at a weighted spread of 155 bp.
Next results Next results expected around 11 Feb 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | €194M | €229M | €183M | €181M | €177M |
| Revenue growth | — | +25% | +1% | +2% | — |
| Gross profit | €162M | €180M | €138M | €135M | €132M |
| EBITDA | €156M | €156M | €148M | €148M | €142M |
| Net income | €53.7M | €34.0M | €53.8M | €53.4M | €43.1M |
| Free cash flow | €142M | €121M | €109M | €107M | €117M |
| Capital expenditure | -€34.3M | €3.59M | €16.8M | €2.34M | €2.44M |
| Total debt | n/a | €1.69B | €1.32B | €1.22B | €1.28B |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| Mercialys MERY.PA | $1.05B | -15% | +3% | 69% | 7.7× | n/a |
| Klepierre LI.PA | $11.6B | +8% | +3% | 63% | 13.1× | n/a |
| Frey FREY.PA | $1.24B | 0% | +45% | 49% | 22.9× | n/a |
| Unibail-Rodamco-Westfield SE Stapled Secs Cons of 1 Sh Unibail Rodamco + 1 Sh WFD Unib Rod URW.PA | n/a | -7% | n/a | n/a | n/a | n/a |
| Carmila CARM.PA | $2.40B | -7% | -1% | 60% | 8.2× | 4.3% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | MERY.PA | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +6.1% | -1.5% | 4th highest of 21 |
| 6-month return | -14.6% | -12.2% | 9th lowest of 21 |
| Distance from 52-week high | -22.6% | -28.5% | 9th highest of 21 |
| Revenue growth (TTM) | +3.2% | -17.0% | 9th highest of 20 |
| Operating margin | 69.1% | 1.9% | 3rd highest of 20 |
| Forward P/E | 7.7× | 12.3× | cheapest of 12 |
| Bond spread | 155 bp | n/a | — |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Mercialys MERY.PA | France | $1.05B | -15% | +3% | 69% | 7.7× | n/a | n/a |
| Marcus & Millichap MMI | United States | $1.05B | -9% | +12% | 1% | 56.1× | n/a | n/a |
| Gemlife Communities GLF.AX | Australia | $1.05B | -9% | +8% | 32% | 12.3× | n/a | n/a |
| Sunac China 1918.HK | Hong Kong | $1.06B | -64% | -29% | -27% | n/a | n/a | n/a |
| Black Peony (Group) 600510.SS | China | $1.04B | -37% | -24% | -14% | n/a | n/a | n/a |
| Hotel101 Global HBNB | United States | $1.07B | -29% | +1,178% | 2% | n/a | n/a | n/a |
| Beijing Capital Development 600376.SS | China | $1.04B | -41% | -35% | -15% | n/a | n/a | n/a |
| Token 1766.T | Japan | $1.07B | -1% | +5% | 6% | 8.2× | n/a | n/a |
| 5I5J 000560.SZ | China | $1.03B | -2% | -21% | -6% | 44.9× | n/a | n/a |
| PLAZZA PLAN.SW | Switzerland | $1.08B | -4% | +6% | 76% | 40.0× | n/a | n/a |
| Zhuhai Zhumian 600185.SS | China | $1.08B | -27% | -49% | 17% | 17.3× | n/a | n/a |
| Cinda Real Estate 600657.SS | China | $1.08B | -19% | -44% | -97% | n/a | n/a | n/a |
| Ichigo 2337.T | Japan | $1.09B | -13% | -17% | 29% | 9.0× | n/a | n/a |
| Vivenio Residencial SOCIMI YVIV.MC | Spain | $1.09B | -1% | +34% | 60% | n/a | n/a | n/a |
| China Sports Industry 600158.SS | China | $1.01B | -41% | 0% | -9% | n/a | n/a | n/a |
| Shenzhen Kingkey Smart Agriculture Times 000048.SZ | China | $1.10B | -7% | -17% | -15% | 10.4× | n/a | n/a |
| Fermi FRMI | United States | $1.01B | -70% | n/a | n/a | n/a | n/a | n/a |
| AEDAS Homes AEDAS.MC | Spain | $1.10B | +1% | -25% | 10% | 9.1× | n/a | n/a |
| Shanghai AJ 600643.SS | China | $1.00B | -12% | -41% | -180% | n/a | n/a | n/a |
| WeWork India Management WEWORK.NS | India | $1.00B | +26% | +25% | 24% | 62.0× | n/a | n/a |
| Cibus Real Estate AB (publ) CIBUS.ST | Sweden | $1.11B | -12% | +20% | 75% | 11.2× | n/a | n/a |
Mercialys has 4 bonds outstanding with $1.56B face value. The agencies rate it BBB; its bonds trade like BBB. Weighted yield 4.80%, a spread of 155 bp over government bonds.