Unibail-Rodamco-Westfield Act. SIIC ET STES FONC.EUROP. URW

Stock XPAR Rating as of Oct 1, 2026

€87.50 −0.38 (0.43%)

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As of Oct 2, 2026, 3:02:18 PM Delayed Price Open

Company Report

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Initiating Coverage of Unibail-Rodamco-Westfield, the Shopping Center REIT

Jack Fletcher-Price Jun 30, 2026

Since acquiring Westfield in 2018, Unibail-Rodamco-Westfield has focused on aggressive deleveraging to repair its balance sheet. After shareholders rejected a proposed capital raise in 2020, the group pivoted toward an asset disposal program. Between 2021 and 2024, URW achieved EUR 6.4 billion in disposals, bringing net debt/EBITDA from 16 times in 2020 to 9.5 times. In 2025, URW completed or secured a further EUR 2.2 billion of disposals, bringing its net debt/EBITDA to 9.1 times and its loan/value to 42%. By 2028, URW is targeting net debt/EBITDA of 8.0 times and a loan/value of 40%.

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Price vs Fair Value

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URW is trading at a LOCK|^b&m premium.

Price

€87.88

Oct 1, 2026

Fair Value

@wM

Jun 30, 2026

Uncertainty

H#x

1-Star Price: !g%
5-Star Price: LOCK|.W
Economic Moat: LOCK|W&%
Capital Allocation: LOCK|$Q>

Bulls Say, Bears Say

Bulls

URW is transitioning from a period of balance sheet repair to one of growth and distribution.

Bears

Physical retail faces ongoing structural disruption from e-commerce, especially traditional anchors and fashion brands.

Trading Information

Previous Close Price: €87.88
Day Range: €86.70–87.86
52-Week Range: €86.58–106.65
Bid/Ask: €87.48 / €87.52
Shares Outstanding: 144.52M
Market Cap: €12.65B
Volume/Avg: 141,916 / 258,368

Key Statistics

Price/Earnings (Normalized): 7.58
Price/Sales: 4.28
Dividend Yield (Trailing): 5.12%
Dividend Yield (Forward): 5.12%
Dividend Payment Schedule: May
Total Yield: 5.12%

Company Profile

Unibail-Rodamco-Westfield operates as a real estate investment trust. The company develops and owns large, efficient office buildings in prime locations in Paris and La Defense. It also owns offices, hotels and residential assets in Europe and the USA. Its portfolio includes shopping centers, office , and convention & exhibition centers. Its segments include Southern Europe, including France, Spain and Italy; Central Europe, including Germany, Austria, Poland and the Czech Republic; Northern Europe, including Sweden, Denmark, The Netherlands, and The UK; and The United States.

Sector: Real Estate
Industry: REIT - Retail
Stock Style Box: Mid Value
Total Number of Employees: 1,992
Website: https://www.urw.com

Competitors

Valuation

Metric	URW	MAC	SPG
Price/Earnings (Normalized)	7.58	94.93	28.74
Price/Book Value	0.77	2.26	14.79
Price/Sales	4.28	5.84	9.41
Price/Cash Flow	10.26	20.59	14.53

Price/Earnings

URW

MAC

SPG

Financial Strength

Metric	URW	MAC	SPG
Quick Ratio	0.75	0.51	0.53
Current Ratio	0.79	0.63	0.53
Interest Coverage	3.57	0.36	6.02

Quick Ratio

URW

MAC

SPG

Profitability

Metric	URW	MAC	SPG
Return on Assets (Normalized)	2.66%	0.70%	8.67%
Return on Equity (Normalized)	8.43%	2.31%	84.77%
Return on Invested Capital (Normalized)	3.88%	4.26%	12.39%

Return on Assets

URW

MAC

SPG

REIT - Retail Industry Comparables

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Unibail-Rodamco-Westfield ADR URMCY	—	LOCK\|$C	$14B
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