(URW) Unibail-Rodamco-Westfield - Overview
Stock: Shopping Centres, Offices, Convention Venues
Dividends
| Dividend Yield | 4.81% |
| Yield on Cost 5y | 6.22% |
| Yield CAGR 5y | 40.00% |
| Payout Consistency | 76.1% |
| Payout Ratio | 65.5% |
| Risk 5d forecast | |
|---|---|
| Volatility | 17.0% |
| Relative Tail Risk | 0.51% |
| Reward TTM | |
|---|---|
| Sharpe Ratio | 0.87 |
| Alpha | 18.28 |
| Character TTM | |
|---|---|
| Beta | 0.039 |
| Beta Downside | 0.601 |
| Drawdowns 3y | |
|---|---|
| Max DD | 28.54% |
| CAGR/Max DD | 0.76 |
Description: URW Unibail-Rodamco-Westfield January 03, 2026
Unibail-Rodamco-Westfield (URW) is a French-based owner, developer and operator of premium real-estate assets, primarily shopping centres, across 11 European and U.S. cities. The group runs 66 malls-40 under the Westfield brand-generating roughly 900 million annual visits, and also holds office buildings, ten convention venues in Paris, and a €1.9 bn mixed-use development pipeline.
As of 30 June 2025, URW’s €49 bn portfolio is weighted 88 % retail, 5 % offices, 6 % convention/exhibition and 2 % services. Recent FY-2024 results showed a net operating income of €2.3 bn with retail occupancy averaging 95 % and same-store sales growth of 3 % year-over-year, reflecting resilience despite e-commerce pressure. Key sector drivers include the shift toward experience-focused retail, the demand for mixed-use urban regeneration, and the impact of rising European interest rates on REIT cost of capital.
URW’s sustainability agenda, embodied in the “Better Places” plan, targets ESG improvements that could enhance its BBB+ (S&P) and Baa2 (Moody’s) credit ratings and attract ESG-focused capital. For a deeper, data-driven valuation of URW’s mixed-use pipeline, you may find the analytics on ValueRay worth a look.
Piotroski VR‑10 (Strict, 0-10) 4.5
| Net Income: 879.8m TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.04 > 0.02 and ΔFCF/TA 1.00 > 1.0 |
| NWC/Revenue: -6.55% < 20% (prev 101.9%; Δ -108.5% < -1%) |
| CFO/TA 0.06 > 3% & CFO 2.87b > Net Income 879.8m |
| Net Debt (21.42b) to EBITDA (3.45b): 6.21 < 3 |
| Current Ratio: 0.93 > 1.5 & < 3 |
| Outstanding Shares: last quarter (145.0m) vs 12m ago 4.29% < -2% |
| Gross Margin: 65.18% > 18% (prev 0.62%; Δ 6456 % > 0.5%) |
| Asset Turnover: 11.23% > 50% (prev 5.71%; Δ 5.51% > 0%) |
| Interest Coverage Ratio: 2.54 > 6 (EBITDA TTM 3.45b / Interest Expense TTM 1.33b) |
Altman Z'' 0.57
| A: -0.01 (Total Current Assets 5.07b - Total Current Liabilities 5.45b) / Total Assets 50.92b |
| B: 0.01 (Retained Earnings 697.7m / Total Assets 50.92b) |
| C: 0.06 (EBIT TTM 3.39b / Avg Total Assets 52.25b) |
| D: 0.14 (Book Value of Equity 4.09b / Total Liabilities 30.06b) |
| Altman-Z'' Score: 0.57 = B |
Beneish M -2.24
| DSRI: 1.24 (Receivables 1.20b/506.5m, Revenue 5.87b/3.06b) |
| GMI: 0.95 (GM 65.18% / 61.93%) |
| AQI: 1.04 (AQ_t 0.90 / AQ_t-1 0.87) |
| SGI: 1.92 (Revenue 5.87b / 3.06b) |
| TATA: -0.04 (NI 879.8m - CFO 2.87b) / TA 50.92b) |
| Beneish M-Score: -2.24 (Cap -4..+1) = BBB |
What is the price of URW shares?
Over the past week, the price has changed by +3.29%, over one month by +3.56%, over three months by +7.11% and over the past year by +23.49%.
Is URW a buy, sell or hold?
What are the forecasts/targets for the URW price?
| Issuer | Target | Up/Down from current |
|---|---|---|
| Wallstreet Target Price | 108.1 | 12.5% |
| Analysts Target Price | - | - |
| ValueRay Target Price | 115.1 | 19.8% |
URW Fundamental Data Overview February 03, 2026
P/E Trailing = 17.4157
P/E Forward = 10.0
P/S = 3.6887
P/B = 0.7792
P/EG = 0.4428
Revenue TTM = 5.87b EUR
EBIT TTM = 3.39b EUR
EBITDA TTM = 3.45b EUR
Long Term Debt = 20.66b EUR (from longTermDebt, last quarter)
Short Term Debt = 3.24b EUR (from shortTermDebt, last quarter)
Debt = 24.72b EUR (from shortLongTermDebtTotal, last quarter)
Net Debt = 21.42b EUR (from netDebt column, last quarter)
Enterprise Value = 38.06b EUR (13.33b + Debt 24.72b - CCE 100.0k)
Interest Coverage Ratio = 2.54 (Ebit TTM 3.39b / Interest Expense TTM 1.33b)
EV/FCF = 20.24x (Enterprise Value 38.06b / FCF TTM 1.88b)
FCF Yield = 4.94% (FCF TTM 1.88b / Enterprise Value 38.06b)
FCF Margin = 32.05% (FCF TTM 1.88b / Revenue TTM 5.87b)
Net Margin = 15.00% (Net Income TTM 879.8m / Revenue TTM 5.87b)
Gross Margin = 65.18% ((Revenue TTM 5.87b - Cost of Revenue TTM 2.04b) / Revenue TTM)
Gross Margin QoQ = 70.90% (prev 61.99%)
Tobins Q-Ratio = 0.75 (Enterprise Value 38.06b / Total Assets 50.92b)
Interest Expense / Debt = 0.99% (Interest Expense 245.9m / Debt 24.72b)
Taxrate = 15.00% (149.0m / 993.4m)
NOPAT = 2.88b (EBIT 3.39b * (1 - 15.00%))
Current Ratio = 0.93 (Total Current Assets 5.07b / Total Current Liabilities 5.45b)
Debt / Equity = 1.46 (Debt 24.72b / totalStockholderEquity, last quarter 16.98b)
Debt / EBITDA = 6.21 (Net Debt 21.42b / EBITDA 3.45b)
Debt / FCF = 11.39 (Net Debt 21.42b / FCF TTM 1.88b)
Total Stockholder Equity = 17.19b (last 4 quarters mean from totalStockholderEquity)
RoA = 1.68% (Net Income 879.8m / Total Assets 50.92b)
RoE = 5.12% (Net Income TTM 879.8m / Total Stockholder Equity 17.19b)
RoCE = 8.95% (EBIT 3.39b / Capital Employed (Equity 17.19b + L.T.Debt 20.66b))
RoIC = 6.72% (NOPAT 2.88b / Invested Capital 42.85b)
WACC = 2.67% (E(13.33b)/V(38.06b) * Re(6.06%) + D(24.72b)/V(38.06b) * Rd(0.99%) * (1-Tc(0.15)))
Discount Rate = 6.06% (= CAPM, Blume Beta Adj.) -> floored to rf + 0.7*ERP = 7.95%
Shares Correlation 3-Years: 100.0 | Cagr: 2.12%
[DCF Debug] Terminal Value 84.26% ; FCFF base≈1.71b ; Y1≈1.42b ; Y5≈1.04b
Fair Price DCF = 71.61 (EV 31.68b - Net Debt 21.42b = Equity 10.27b / Shares 143.4m; r=5.90% [WACC]; 5y FCF grow -20.36% → 2.90% )
EPS Correlation: 27.91 | EPS CAGR: 194.6% | SUE: 0.0 | # QB: 0
Revenue Correlation: 22.41 | Revenue CAGR: 22.43% | SUE: 0.48 | # QB: 0
EPS next Year (2026-12-31): EPS=9.31 | Chg30d=-0.000 | Revisions Net=-3 | Growth EPS=-2.0% | Growth Revenue=-0.5%