U 
Unibail-Rodamco-Westfield URW.PA · EUR
Real Estate · Equity Real Estate Investment Trusts (REITs) · Euronext Paris · 🇫🇷 France
94.38
+0.23%
Close of 9 Nov 2026, in EUR
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At a glance
Figures in EUR, from our data supplier.
Revenue
€3.06bn
FY2016FY2025
Net income
€1.27bn
FY2016FY2025
Free cash flow
€1.15bn
FY2016FY2025
Shareholders' equity
€17.70bn
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | €3.06bn | €3.26bn | €3.06bn | €3.00bn | €2.52bn | €993.7m | €3.38bn | €2.73bn | €2.08bn | €2.03bn |
| Research and development | — | — | €1 | €0 | €100,000 | €2.6m | €17.4m | €2.1m | €3.6m | €5.9m |
| Operating income | €2.56bn | €790.8m | −€968.9m | €545.0m | −€465.7m | −€377.9m | €781.8m | €1.98bn | €2.91bn | €3.59bn |
| Net income | €1.27bn | €146.2m | −€1.63bn | €178.2m | −€972.1m | −€7.21bn | €1.10bn | €1.03bn | €2.44bn | €2.41bn |
| Diluted earnings per share | 8.68 | 1.04 | -11.72 | 1.28 | -7.01 | -52.09 | 7.97 | 7.25 | 23.62 | 23.34 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | €49.68bn | €53.55bn | €53.58bn | €54.64bn | €54.92bn | €57.28bn | €65.00bn | €64.53bn | €43.24bn | €40.74bn |
| Cash and short-term investments | €2.68bn | €5.29bn | €5.50bn | €3.33bn | €2.26bn | €2.14bn | €488.8m | €369.9m | €574.7m | €400.1m |
| Total liabilities | €27.99bn | €32.51bn | €32.81bn | €31.69bn | €32.55bn | €34.48bn | €33.15bn | €32.39bn | €20.55bn | €19.73bn |
| Debt | €22.69bn | €27.32bn | €27.90bn | €26.16bn | €26.64bn | €27.01bn | €26.36bn | €24.57bn | €16.57bn | €15.63bn |
| Shareholders' equity | €17.70bn | €17.67bn | €17.21bn | €19.18bn | €18.92bn | €19.38bn | €27.94bn | €28.17bn | €18.92bn | €17.47bn |
| Shares outstanding | 146m | 141m | 139m | 139m | 139m | 138m | 138m | 142m | 103m | 103m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | €2.05bn | €2.19bn | €2.06bn | €2.44bn | €1.72bn | €1.42bn | €1.89bn | €1.79bn | €1.49bn | €1.56bn |
| Capital spending | −€894.9m | −€1.31bn | −€1.18bn | −€904.8m | −€888.9m | −€671.0m | −€568.2m | −€558.3m | −€775.7m | −€420.4m |
| Free cash flow | €1.15bn | €881.9m | €875.5m | €1.53bn | €831.7m | €752.1m | €1.32bn | €1.24bn | €710.8m | €1.14bn |
| Dividends paid | −€501.2m | −€347.9m | −€58.7m | −€48.1m | −€48.1m | −€747.4m | −€1.49bn | −€1.08bn | −€1.02bn | −€963.1m |
Latest quarters
By quarter end
| Jun 2026 | Dec 2025 | Jun 2025 | Dec 2024 | Jun 2024 | Mar 2024 | Dec 2023 | Jun 2023 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | €1.51bn | €1.49bn | €1.85bn | €1.73bn | €1.52bn | €762.4m | €1.47bn | €1.59bn |
| Operating income | €903.3m | €849.5m | €1.47bn | €900.5m | €942.3m | €426.6m | −€576.7m | −€268.0m |
| Net income | €1.01bn | €570.5m | €697.7m | €74.5m | €71.7m | €35.9m | −€1.09bn | −€537.8m |
| Diluted earnings per share | 6.89 | 3.90 | 4.78 | 0.53 | 0.51 | 0.25 | -7.85 | -3.87 |
| Cash from operations | €769.0m | €1.43bn | €617.0m | €1.10bn | €694.0m | €459.0m | €991.0m | €603.0m |
| Capital spending | −€324.0m | −€477.0m | −€417.0m | −€635.0m | −€673.0m | — | −€742.0m | −€438.0m |
| Free cash flow | €445.0m | €952.0m | €200.0m | €461.0m | €21.0m | — | €249.0m | €165.0m |
| Total assets | €50.40bn | €49.68bn | €50.92bn | €53.55bn | €53.25bn | €53.25bn | €53.58bn | €53.95bn |
| Cash and short-term investments | €2.84bn | €2.68bn | €3.31bn | €5.29bn | €4.62bn | €4.62bn | €5.50bn | €3.83bn |
| Debt | €3.44bn | €22.69bn | €24.72bn | €27.56bn | €27.44bn | €3.44bn | €26.97bn | €26.64bn |
| Shareholders' equity | €16.42bn | €17.70bn | €16.98bn | €17.67bn | €17.06bn | €17.06bn | €17.21bn | €18.25bn |
Financial ratios
Data as of 1 Oct 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | |
|---|---|---|---|---|---|---|---|---|
| Operating margin | 83.6% | 24.3% | -31.7% | 18.1% | -18.5% | -38.0% | — | — |
| Net margin | 41.5% | 4.5% | -53.2% | 5.9% | -38.6% | -725.8% | — | — |
| Return on equity | 7.2% | 0.8% | -9.5% | 0.9% | -5.1% | -37.2% | — | — |
| Return on assets | 2.6% | 0.3% | -3.0% | 0.3% | -1.8% | -12.6% | — | — |
| Free cash flow yield | 22.8% | 28.1% | 26.4% | 27.3% | 21.4% | 17.2% | — | — |
| Revenue growth | -6.1% | 6.4% | 1.9% | 19.2% | 153.6% | -70.6% | — | — |
| Earnings growth | 767.4% | -109.0% | -1014.2% | -118.3% | -86.5% | -753.7% | — | — |
| Current ratio | 1.27x | 1.38x | 1.81x | 1.66x | 1.05x | 0.91x | — | — |
| Debt to equity | 1.25x | 1.51x | 1.57x | 1.33x | 1.39x | 1.38x | — | — |
| Equity ratio | 35.6% | 33.0% | 32.1% | 35.1% | 34.4% | 33.8% | — | — |
| Interest coverage | 3.08x | 0.71x | -0.97x | 0.76x | -0.69x | -0.56x | — | — |
| R&D as a share of sales | — | — | 0.0% | 0.0% | 0.0% | 0.3% | 0.5% | 0.1% |
| Buybacks as a share of market value | -3.4% | -1.6% | -0.2% | -0.1% | -0.1% | -0.1% | — | — |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 0.6% | 25.2% | 4.5% |
| Operating income | 67.4% | — | -2.4% |
| Net income | 92.4% | — | -5.9% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Operating margin | 53.0% | 23.6% | 13.1% | 51.9% |
| Net margin | 22.4% | -0.3% | -51.7% | 3.9% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | |
|---|---|---|---|
| Price to earnings | 10.8 | 70.3 | -5.7 |
| Price to sales | 4.5 | 3.1 | 3.0 |
Dividends and splits
Per share, in the currency the company pays
Paid for 2 years. Last went ex-dividend on 15 May 2026.
| FY2026 | FY2025 | FY2024 | FY2020 | FY2019 | FY2017 | FY2016 | FY2015 | |
|---|---|---|---|---|---|---|---|---|
| Paid in the year | 4.50 | 3.50 | 2.50 | 5.40 | 10.80 | 10.80 | 10.20 | 9.70 |
- 1-to-1 reverse split · 5 Jun 2018
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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