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Unibail-Rodamco-Westfield SE
F:UBLB

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Unibail-Rodamco-Westfield SE Logo
Unibail-Rodamco-Westfield SE
F:UBLB
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Price: 4.5 EUR Market Closed
Market Cap: €12.5B
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Financial profile · Q2 FY2026

Rental-led earnings with cash generation and valuation-sensitive profits

URW’s property portfolio has produced substantial operating earnings and positive cash from operations across the reported history. Financing costs and property or derivative valuation movements make common net income less steady than rental operations, while asset sales and reinvestment shape this debt-funded model.

What is developing

The latest results show reported revenue and operating income easing while common net income rose, with the company attributing the improvement in its non-recurring result to valuation, derivative and currency effects. That divergence matters because the higher reported profit does not by itself demonstrate a comparable change in recurring property economics.

What matters next

Whether like-for-like shopping-centre rental growth continues to offset the effects of disposals and currency movements in reported rental income.

EUR
Metric FY2016 FY2017 FY2018 FY2019 FY2020 FY2021 FY2022 FY2023 FY2024 FY2025
Cash & Cash Equivalents
361.9m 276.8m 362.9m 479.5m 1.2B 1B 1.4B 5.5B 2.5B 1.8B
Cash
362m 276.8m 362.9m 479.5m 1.2B 1B 1.4B — 2.5B 1.8B
Cash Equivalents
(100k) — — — (100k) 100k — 5.5B (100k) —
Short-Term Investments
38.2m 297.9m 7m 9.3m 955.9m 1.2B 1.9B — 2.8B 903.7m
Total Receivables
723.1m 884.3m 1.2B 1.2B 1.2B 1.1B 1.1B 1.2B 1.1B 1.2B
Accounts Receivables
369m 416.5m 550.6m 513m 539.4m 532.5m 463.9m 506.5m 487.9m 658.7m
Other Receivables
354.1m 467.8m 626.8m 656m 652.1m 592.2m 621.1m 708.1m 600.5m 521.8m
Inventory
— — 95.2m 91.2m 32m 37.4m 44.4m 35.3m 17.6m 21.2m
Other Current Assets
112.6m 131.2m 66.2m 2.1B 1B 311.3m 0 204.5m 727.2m 91.9m
Total Current Assets
1.2B 1.6B 1.7B 3.9B 4.4B 3.7B 4.5B 7B 7.1B 4B
PP&E Net
219.8m 216.3m 292.2m 344.5m 279.2m 145.9m 137.3m 113m 114.4m 100.2m
Intangible Assets
229.4m 172.2m 1.1B 984.4m 876.3m 844.8m 820.5m 829.6m 840.2m 760.5m
Goodwill
539.9m 522.4m 2.9B 2.9B 1.2B 1.1B 1.1B 845.2m 806m 626.2m
Note Receivable
113.3m 76.8m — — — — — — — —
Long-Term Investments
38.1B 40.5B 58.2B 56.3B 49.6B 48.7B 47.3B 44.6B 44.4B 44B
Other Long-Term Assets
292.6m 194.7m 330.2m 628.1m 853.4m 465.2m 854.8m 275.1m 262.7m 209.5m
Other Assets
539.9m 522.4m 2.9B 2.9B 1.2B 1.1B 1.1B 845.2m 806m 626.2m
Total Assets
40.7B 43.2B 64.5B 65B 57.3B 54.9B 54.6B 53.6B 53.5B 49.7B
Accounts Payable
150.4m 187.5m 207.4m 230.5m 211.8m 229m 240.5m 245m 240.1m 297.6m
Accrued Liabilities
5.2m — 221.7m 230.2m 272.4m 248.3m 240.4m — 241.3m 194.6m
Short-Term Debt
4.1m 0 1.2m 2.8m 9.8m 16.4m 7.9m — 15.1m 393.6m
Current Portion of Long-Term Debt
2B 2.3B 3B 2B 1.4B 1.1B 533m 1.9B 3B 529.6m
Other Current Liabilities
1.4B 1.2B 2.5B 2.4B 2.9B 2B 1.7B 1.7B 1.7B 1.7B
Total Current Liabilities
3.5B 3.7B 6B 4.9B 4.8B 3.6B 2.7B 3.8B 5.2B 3.1B
Long-Term Debt
13.6B 14.3B 21.5B 24.3B 25.6B 25.5B 25.6B 26B 24.3B 21.6B
Deferred Income Tax
1.7B 1.8B 3.7B 2.3B 2B 1.9B 1.8B 1.8B 1.9B 2.1B
Minority Interest
3.6B 3.8B 4.2B 4.1B 3.5B 3.6B 3.8B 3.6B 3.4B 4B
Other Liabilities
850.3m 835.8m 992.3m 1.5B 1.9B 1.5B 1.5B 1.2B 1.1B 1.2B
Total Liabilities
23.3B 24.3B 36.4B 37.1B 37.9B 36B 35.5B 36.4B 35.9B 32B
Common Stock
497m 499.3m 691.4m 691.9m 692.4m 693m 693.8m 695.2m 713.1m 716.8m
Retained Earnings
10.8B 12.2B 12.2B 11.8B 3.8B 2.7B 2.9B 1.2B 1.5B 2.6B
Additional Paid In Capital
6.4B 6.5B 13.5B 13.5B 13.5B 13.5B 13.5B 13.5B 13.4B 12.9B
Other Equity
(193.5m) (210.3m) 1.8B 2B 1.4B 2B 2.1B 1.8B 2.1B 1.5B
Total Equity
17.5B 18.9B 28.2B 27.9B 19.4B 18.9B 19.2B 17.2B 17.7B 17.7B
Total Liabilities & Equity
40.7B 43.2B 64.5B 65B 57.3B 54.9B 54.6B 53.6B 53.5B 49.7B
Common Shares Outstanding
99.4m 99.9m 138.3m 138.4m 138.5m 138.6m 138.8m 139m 142.6m 143.4m
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Continue UBLB Research

Summary
UBLB intrinsic value, competitors valuation, and company profile.
DCF Valuation
UBLB stock valuation using Discount Cash Flow valuation method.
Relative Valuation
UBLB stock valuation using valuation multiples.
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UBLB price targets and financial estimates made by Wall Street analysts.
Profitability
Detailed analysis of the company's profitability.
Solvency
Analysis of the financial position and solvency of the company.
Financial Statements
Income Statement, Balance Sheet, Cash Flow Statement.
Discount Rate
UBLB stock discount rate: cost of equity and WACC.
Summary
DCF Valuation
Relative Valuation
Wall St Estimates
Profitability
Solvency
Financial Statements
Discount Rate
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