Unibail-Rodamco-Westfield URW.PA
Unibail-Rodamco-Westfield is a French REIT that owns and operates high-quality shopping centers and offices in Europe and the US, generating income primarily from rents and services to its tenants. URW combines record occupancy and 43.20% earnings growth with a highly leveraged balance sheet (Net Debt/EBITDA of 9.06) and an attractive valuation (P/B of 0.81), but the rise in 10-year rates is a drag on its refinancing and asset values.
Detailed metrics
Market and fundamental data as of the analysis date.
Full AI report
Generated automatically from the metrics, the macro context and the company's news.
Unibail-Rodamco-Westfield is a French REIT that owns and operates high-quality shopping centers and offices in Europe and the US, generating income primarily from rents and services to its tenants. URW combines record occupancy and 43.20% earnings growth with a highly leveraged balance sheet (Net Debt/EBITDA of 9.06) and an attractive valuation (P/B of 0.81), but the rise in 10-year rates is a drag on its refinancing and asset values.
Score by category
| Category | Score |
|---|---|
| Financial health | 4.3 |
| Quality / Moat | 5.4 |
| Valuation | 6.8 |
| Growth | 6.0 |
| Dividend | 5.0 |
| Momentum | 6.2 |
| Risk & Context | 2.2 |
OVERALL SCORE: 4.9/10
Context and risks
URW is a REIT with Net Debt/EBITDA of 9.06, highly leveraged, and the rise in 10-year rates (5.17%) makes its refinancing more expensive and pressures asset values. Additionally, its US exposure (Westfield malls) makes it sensitive to the stronger dollar and US consumer trends.
News considered in the analysis
- Malls Were Left for Dead. Now They Are the Top Performer in Commercial Real Estate. — El repunte del sector de centros comerciales es un viento de cola material para URW, que opera activos prime en Europa y EE. UU.; la noticia refleja una mejora de la demanda de espacio que ya se está viendo en sus resultados.
- Unibail Rodamco Westfield (ENXTPA:URW) Updates Share Count, Is The Stock Still Cheap? — Actualización rutinaria del número de acciones; sin información nueva sobre valoración o negocio.
- Westfield Topanga Tests Pop-Ups to Revive Food Hall — Iniciativa operativa menor en un centro concreto; puede mejorar ligeramente la ocupación y la experiencia, pero el impacto en beneficios es limitado.
- Unibail-Rodamco-Westfield (UNBLF) (H1 2026) Earnings Call Highlights: Record Low Vacancy and ... — La ocupación récord es un dato operativo clave que confirma la fortaleza del negocio principal y apoya el crecimiento de los alquileres.
- A Look At Unibail-Rodamco-Westfield (ENXTPA:URW) Valuation After The Recent Share Price Pullback — Análisis de valoración genérico sin información nueva; el mercado ya ha reaccionado a la caída del precio.
Verdict: Hold; operational strength and cheap valuation offset balance sheet risk, but rising rates limit near-term re-rating potential.
Main risk: High leverage (Net Debt/EBITDA of 9.06) combined with the rise in 10-year rates, which makes refinancing more expensive and pressures real estate asset values.
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