URW.PA · REIT · FFO, book-value and yield view
Unibail-Rodamco-Westfield SE (URW.PA): Valuation Snapshot
Unibail-Rodamco-Westfield SE (URW.PA) is a real-estate investment trust, and a discounted-cash-flow model is the wrong lens for one, so TickerWorth does not publish a DCF fair value for it. What its filings and market data do show is below. Snapshot as of Oct 19, 2026.
Model by Miraaj Patel · generated from public market data · Updated Oct 19, 2026 · How these pages are made
How is a REIT like URW.PA valued?
This is a REIT. A free-cash-flow DCF is structurally the wrong lens for property: heavy depreciation and continuous property capex swamp reported free cash flow, which is why REITs are valued on FFO/AFFO, net asset value and dividend yield. We show those lenses instead of a DCF number we would not stand behind.
What is URW.PA's TickerWorth Score?
Scores higher than most companies we compare it with
Compared with Real Estate companies in Europe
Its strongest point: looks cheap on the numbers. Its weakest: recent price trend has been weak.
- Value · 87 of 100
Cheaper than 87% of Real Estate companies worldwide
- Price vs worth · — of 100
- Quality · 73 of 100
More profitable than 73% of Real Estate companies worldwide
- Financial health · 43 of 100
Financially stronger than 43% of Real Estate companies worldwide
- Growth · 39 of 100
Growing faster than 39% of Real Estate companies worldwide
- Momentum · 25 of 100
Outperformed 25% of Real Estate companies worldwide over the past year
Confidence: Medium confidence · Scored
Get the Undervalued Company of the Week.
- Price
- €87.98
- Market cap
- €12,
715, 037, 696 - 52-week high
- €106.65
- 52-week low
- €85.98
- Currency
- EUR
- Exchange
- Paris
Snapshot of Oct 19, 2026, quote time not published · Prices are delayed.
What we can say
Unibail-Rodamco-Westfield SE (URW.PA) is a real-estate investment trust, and a free-cash-flow discounted-cash-flow (DCF) model is structurally the wrong lens for one. A REIT's reported free cash flow is swamped by property depreciation and the continuous capital spending that maintaining a portfolio requires, which is why the industry is valued on funds from operations (FFO/AFFO), net asset value and dividend yield instead. We have the data to print a DCF number for URW.PA; we don't publish one because it would not mean what it appears to mean. What follows is how a REIT is actually read — descriptive, not a valuation, and not investment advice.
Read the full reasoning
On the numbers we do have, URW.PA trades at a recent price of €87.98, a market capitalisation of about €12,715,037,696, sitting 10% of the way up its 52-week range (€85.98–€106.65), on the Paris.
The standard alternative to a DCF is relative valuation — comparing URW.PA's trading multiples against a sector benchmark. Here that gives P/E of 8.1× (cheaper than the peer median of 27.7×); Fwd P/E of 9.3× (cheaper than the peer median of 36.1×); P/B of 0.8× (cheaper than the peer median of 6.8×); P/S of 3.6× (cheaper than the peer median of 9.8×); EV/EBITDA of 16.5× (cheaper than the peer median of 19.3×); Dividend yield of 5.1% (cheaper than the peer median of 3.9%). A cheaper multiple than peers can flag a discount or a market that expects weaker growth; it is a comparison, not a recommendation.
The asset, or book-value, lens is the classic tool for asset-heavy businesses and financials. URW.PA shows a price-to-book (P/B) of 0.77 and book value of €113.64 per share. Price-to-book compares the market price to the accounting net-asset value per share; below 1.0 can mean a discount to net assets or that the market is pricing in trouble — descriptive either way, never a buy signal on its own.
Finally, a price-based read — explicitly not a valuation. URW.PA is in a down-trend (price below both its 50- and 200-day averages), trading -17.5% from its 52-week high. Over the past year the stock is +0.3%. Moving-average trend and 52-week position describe where the stock has traded; they say nothing about what it is worth.
To be exact about what this page is not: we are not saying the numbers for URW.PA are unavailable. They are, and they are above. We are saying a discounted-cash-flow model is the wrong instrument for this kind of business, and publishing one anyway — because the inputs happen to exist — would be a precise answer to the wrong question. Refusing is the more useful answer, and it is the same rule we apply to every name in this category.
URW.PA vs peers
Sector benchmark (bellwethers, not direct competitors).
| Multiple | URW.PA | Peer median | Read |
|---|---|---|---|
| P/E | 8.1× | 27.7× | cheaper than |
| Fwd P/E | 9.3× | 36.1× | cheaper than |
| P/B | 0.8× | 6.8× | cheaper than |
| P/S | 3.6× | 9.8× | cheaper than |
| EV/EBITDA | 16.5× | 19.3× | cheaper than |
| Dividend yield | 5.1% | 3.9% | cheaper than |
What does Unibail-Rodamco-Westfield SE do?
What does it do?
Unibail-Rodamco-Westfield SE (URW) operates vibrant retail-anchored destinations in many of the world's best cities and urban areas. This powerful network attracts over 900 million customer visits annually, supports the growth of major retailers, and makes a significant social and economic contribution to local communities. It operates in the REIT - Retail industry (Real Estate sector), headquartered in France. The company employs roughly 1,933 people.
How does it make money?
The business turns 3.5B in annual revenue into profit. Out of every $100 of sales, about $67 is left as operating profit (operating margin of 66.9%), after a 70% gross margin on the products/services it sells. After all costs, taxes and interest, 44.6% of revenue becomes bottom-line net profit.
Is it financially healthy?
Financially it looks stretched: carries moderate debt (1.1× equity), may struggle to cover its short-term bills (0.8× current ratio), and is currently profitable.
URW.PA insider trading
Insider filings are available for US-listed companies only.
Companies we do put a number on
Not investment advice. TickerWorth Score is a model output.
A descriptive, available-data snapshot and relative comparison — NOT a DCF, NOT a price target, and NOT investment advice. TickerWorth is not a licensed investment adviser, and these figures are estimates from public market data that can be wrong, stale or incomplete.