Data sourced from SEC EDGAR filings and third-party price providers. Scores, valuations, and metrics are algorithmic estimates. This is not investment advice. See our Terms and Methodology.
Data sourced from SEC EDGAR filings and third-party price providers. Scores, valuations, and metrics are algorithmic estimates. This is not investment advice. See our Terms and Methodology.
Unibail-Rodamco-Westfield SE is a multinational commercial real estate company headquartered in Paris, France, recognized as Europe's largest in the sector and a key component of the Euro Stoxx 50 and CAC 40 indices. It specializes in owning, developing, and operating sustainable, high-quality real estate assets in dynamic cities across Europe and the United States. The company's portfolio features 71 shopping centres in 12 countries, including 39 under the iconic Westfield brand, attracting over 900 million visits annually and serving as vital platforms for retailers and brands. Complementing this, Unibail-Rodamco-Westfield SE manages high-quality offices, 10 convention and exhibition venues primarily in Paris, and a €2.9 billion development pipeline focused on mixed-use projects. With a total portfolio valued at €50 billion as of June 2024—86% retail, 6% offices, 5% convention spaces, and 2% services—the company emphasizes urban regeneration, sustainability through its Better Places plan, and proactive asset management to enhance shareholder value. It holds investment-grade ratings from Standard & Poor’s (BBB+) and Moody’s (Baa2), underscoring its financial stability in the commercial property market.
58.11% operating margin is above average. ROIC at 3.08%. Note that capital returns lag the margin, the business may be capital-intensive despite high margins.
Revenue declined 6.1% YoY. The question is whether this is cyclical or a structural shift.
Net debt of €20.01B represents 17.4x FCF, leverage limits flexibility.
Profitability & Returns
Revenue (TTM)
€3.06B
▼ -6.1% YoY
Net Income (TTM)
€1.51B
▲ +441.8% YoY
Op. Margin
58.11%
▲ +1.5pp YoY
ROIC
3.08%
▲ +0.4pp YoY
Cash Flow & Balance Sheet
FCF (TTM)
€1.15B
▲ +30.6% YoY
Op. Cash Flow (TTM)
€1.94B
▼ -11.6% YoY
Net Debt
€20.01B
Cash & Equiv.
€2.68B
3Y CAGR: +0.6%
3Y CAGR: -9.1%
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