Unibail-Rodamco-Westfield (URW) - Net Assets
Based on the latest financial reports, Unibail-Rodamco-Westfield (URW) has net assets worth €17.70 Billion EUR (≈ $20.70 Billion USD) as of December 2025. Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets (€49.68 Billion ≈ $58.09 Billion USD) and total liabilities (€31.98 Billion ≈ $37.39 Billion USD). This figure indicates the residual interest in the assets after deducting liabilities, essentially showing what would remain for shareholders if all assets were liquidated and all debts paid off. Check asset resilience ratio of Unibail-Rodamco-Westfield to evaluate the company's liquid asset resilience ratio.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | €17.70 Billion |
| % of Total Assets | 35.63% |
| Annual Growth Rate | 9.45% |
| 5-Year Change | -3.02% |
| 10-Year Change | 3.22% |
| Growth Volatility | 28.61 |
Unibail-Rodamco-Westfield - Net Assets Trend (2004–2025)
This chart illustrates how Unibail-Rodamco-Westfield's net assets have evolved over time, based on quarterly financial data. Also explore Unibail-Rodamco-Westfield total assets for the complete picture of this company's asset base.
Annual Net Assets for Unibail-Rodamco-Westfield (2004–2025)
The table below shows the annual net assets of Unibail-Rodamco-Westfield from 2004 to 2025. For live valuation and market cap data, see Unibail-Rodamco-Westfield (URW) total market value.
| Year | Net Assets | Change |
|---|---|---|
| 2025-12-31 | €21.70 Billion ≈ $25.37 Billion |
+3.13% |
| 2024-12-31 | €21.04 Billion ≈ $24.60 Billion |
+1.30% |
| 2023-12-31 | €20.77 Billion ≈ $24.28 Billion |
-9.50% |
| 2022-12-31 | €22.95 Billion ≈ $26.83 Billion |
+2.57% |
| 2021-12-31 | €22.37 Billion ≈ $26.16 Billion |
-1.85% |
| 2020-12-31 | €22.80 Billion ≈ $26.65 Billion |
-28.44% |
| 2019-12-31 | €31.85 Billion ≈ $37.24 Billion |
-0.90% |
| 2018-12-31 | €32.14 Billion ≈ $37.58 Billion |
+41.63% |
| 2017-12-31 | €22.69 Billion ≈ $26.53 Billion |
+7.96% |
| 2016-12-31 | €21.02 Billion ≈ $24.57 Billion |
+9.26% |
| 2015-12-31 | €19.24 Billion ≈ $22.49 Billion |
+13.61% |
| 2014-12-31 | €16.93 Billion ≈ $19.80 Billion |
+6.61% |
| 2013-12-31 | €15.88 Billion ≈ $18.57 Billion |
+9.65% |
| 2012-12-31 | €14.49 Billion ≈ $16.94 Billion |
+10.95% |
| 2011-12-31 | €13.06 Billion ≈ $15.26 Billion |
+5.54% |
| 2010-12-31 | €12.37 Billion ≈ $14.46 Billion |
-0.52% |
| 2009-12-31 | €12.44 Billion ≈ $14.54 Billion |
-12.11% |
| 2008-12-31 | €14.15 Billion ≈ $16.54 Billion |
-3.11% |
| 2007-12-31 | €14.60 Billion ≈ $17.07 Billion |
+113.69% |
| 2006-12-31 | €6.83 Billion ≈ $7.99 Billion |
+46.39% |
| 2005-12-31 | €4.67 Billion ≈ $5.46 Billion |
+43.33% |
| 2004-12-31 | €3.26 Billion ≈ $3.81 Billion |
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Equity Component Analysis
This analysis shows how different components contribute to Unibail-Rodamco-Westfield's total equity over time. Equity components include common stock, retained earnings, additional paid-in capital, and other elements.
Equity Composition Insights
- Retained earnings have grown by 48.0% over the analyzed period, indicating profitable operations and earnings retention.
Current Equity Component Breakdown (December 2025)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | €1.27 Billion | 7.16% |
| Other Components | €16.43 Billion | 92.84% |
| Total Equity | €17.70 Billion | 100.00% |
Unibail-Rodamco-Westfield Competitors by Market Cap
The table below lists competitors of Unibail-Rodamco-Westfield ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Pinnacle Financial Partners, Inc.
NASDAQ:PNFP
|
$14.43 Billion |
|
Cemex SAB de CV ADR
F:CEXA
|
$14.44 Billion |
|
LTIMindtree Limited
NSE:LTIM
|
$14.44 Billion |
|
Pinnacle Financial Partners, Inc.
NYSE:PNFP
|
$14.45 Billion |
|
SANDS CHINA ADR/1 O.N.
F:599
|
$14.41 Billion |
|
Regencell Bioscience Holdings Ltd
NASDAQ:RGC
|
$14.40 Billion |
|
Regency Centers Corporation
NASDAQ:REG
|
$14.40 Billion |
|
ZTO EXPRESS (CAYMAN)
F:ZTOB
|
$14.39 Billion |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in Unibail-Rodamco-Westfield's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2024 to 2025, total equity changed from 17,670,700,000 to 17,702,300,000, a change of 31,600,000 (0.2%).
- Net income of 1,268,200,000 contributed positively to equity growth.
- Dividend payments of 501,200,000 reduced retained earnings.
- Share repurchases of 20,000,000 reduced equity.
- New share issuances of 20,000,000 increased equity.
- Other comprehensive income decreased equity by 3,426,600,000.
- Other factors increased equity by 2,691,200,000.
Equity Change Factors (2024 to 2025)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | €1.27 Billion | +7.16% |
| Dividends Paid | €501.20 Million | -2.83% |
| Share Repurchases | €20.00 Million | -0.11% |
| Share Issuances | €20.00 Million | +0.11% |
| Other Comprehensive Income | €-3.43 Billion | -19.36% |
| Other Changes | €2.69 Billion | +15.2% |
| Total Change | €- | 0.18% |
Book Value vs Market Value Analysis
This analysis compares Unibail-Rodamco-Westfield's book value (net assets) with its market value over time. The relationship between these values can provide insights into investor sentiment and company valuation.
Valuation Insights
- Current price-to-book ratio: 0.83x
- The company is trading below its book value, potentially indicating the market believes the assets are overvalued on the balance sheet or anticipates future losses.
- The price-to-book ratio has decreased from 1.66x to 0.83x over the analyzed period, indicating reduced market premium.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 2004-12-31 | €62.05 | €103.10 | x |
| 2005-12-31 | €88.48 | €103.10 | x |
| 2006-12-31 | €129.94 | €103.10 | x |
| 2007-12-31 | €195.92 | €103.10 | x |
| 2008-12-31 | €140.75 | €103.10 | x |
| 2009-12-31 | €124.11 | €103.10 | x |
| 2010-12-31 | €118.75 | €103.10 | x |
| 2011-12-31 | €124.73 | €103.10 | x |
| 2012-12-31 | €138.58 | €103.10 | x |
| 2013-12-31 | €141.04 | €103.10 | x |
| 2014-12-31 | €139.78 | €103.10 | x |
| 2015-12-31 | €159.92 | €103.10 | x |
| 2016-12-31 | €169.96 | €103.10 | x |
| 2017-12-31 | €183.38 | €103.10 | x |
| 2018-12-31 | €223.48 | €103.10 | x |
| 2019-12-31 | €198.91 | €103.10 | x |
| 2020-12-31 | €140.01 | €103.10 | x |
| 2021-12-31 | €136.53 | €103.10 | x |
| 2022-12-31 | €137.52 | €103.10 | x |
| 2023-12-31 | €123.82 | €103.10 | x |
| 2024-12-31 | €125.21 | €103.10 | x |
| 2025-12-31 | €123.48 | €103.10 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Unibail-Rodamco-Westfield utilizes its equity to generate returns, including Return on Equity (ROE) and its components based on the DuPont analysis framework.
Capital Efficiency Insights
- Current Return on Equity (ROE): 7.16%
- The company has moderate efficiency in generating returns from equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 41.47%
- • Asset Turnover: 0.06x
- • Equity Multiplier: 2.81x
- Recent ROE (7.16%) is above the historical average (7.12%), indicating improving capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2004 | 29.40% | 158.28% | 0.07x | 2.63x | €544.76 Million |
| 2005 | 33.99% | 293.25% | 0.05x | 2.13x | €977.69 Million |
| 2006 | 35.35% | 436.78% | 0.05x | 1.79x | €1.53 Billion |
| 2007 | 8.40% | 129.69% | 0.03x | 1.88x | €-216.65 Million |
| 2008 | -8.72% | -78.99% | 0.06x | 1.93x | €-2.41 Billion |
| 2009 | -13.84% | -106.35% | 0.06x | 2.00x | €-2.70 Billion |
| 2010 | 22.54% | 167.43% | 0.06x | 2.27x | €1.38 Billion |
| 2011 | 11.41% | 90.75% | 0.06x | 2.27x | €164.19 Million |
| 2012 | 11.30% | 84.54% | 0.06x | 2.29x | €168.34 Million |
| 2013 | 9.42% | 73.07% | 0.05x | 2.36x | €-79.79 Million |
| 2014 | 11.50% | 86.14% | 0.05x | 2.45x | €218.51 Million |
| 2015 | 14.55% | 117.97% | 0.05x | 2.38x | €729.79 Million |
| 2016 | 13.79% | 118.58% | 0.05x | 2.33x | €662.46 Million |
| 2017 | 12.90% | 117.37% | 0.05x | 2.29x | €547.88 Million |
| 2018 | 3.66% | 37.71% | 0.04x | 2.29x | €-1.79 Billion |
| 2019 | 3.95% | 32.63% | 0.05x | 2.33x | €-1.69 Billion |
| 2020 | -37.21% | -725.83% | 0.02x | 2.96x | €-9.15 Billion |
| 2021 | -5.14% | -38.58% | 0.05x | 2.90x | €-2.86 Billion |
| 2022 | 0.93% | 5.93% | 0.05x | 2.85x | €-1.74 Billion |
| 2023 | -9.47% | -53.22% | 0.06x | 3.11x | €-3.35 Billion |
| 2024 | 0.83% | 4.49% | 0.06x | 3.03x | €-1.62 Billion |
| 2025 | 7.16% | 41.47% | 0.06x | 2.81x | €-502.03 Million |
Industry Comparison
This section compares Unibail-Rodamco-Westfield's net assets metrics with peer companies in the REIT - Retail industry.
Industry Context
- Industry: REIT - Retail
- Average net assets among peers: $873,410,660
- Average return on equity (ROE) among peers: 8.85%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Unibail-Rodamco-Westfield (URW) | €17.70 Billion | 29.40% | 1.81x | $14.42 Billion |
| Carmila SA (CARM) | $2.55 Million | 0.00% | 4.83x | $2.41 Billion |
| Frey SA (FREY) | $215.93 Million | 15.16% | 1.49x | $995.34 Million |
| Klepierre SA (LI) | $3.57 Billion | 17.95% | 1.88x | $9.57 Billion |
| Mercialys SA (MERY) | $920.54 Million | 9.41% | 1.89x | $1.03 Billion |
| Patrimoine et Commerce SA (PAT) | $230.78 Million | 6.19% | 1.40x | $382.37 Million |
| Selectirente (SELER) | $304.77 Million | 4.40% | 0.90x | $337.08 Million |
About Unibail-Rodamco-Westfield
Unibail-Rodamco-Westfield is an owner, developer and operator of sustainable, high-quality real estate assets in the most dynamic cities in Europe and the United States. The Group operates 66 shopping centres in 11 countries, including 40 which carry the iconic Westfield brand. These centres attract over 900 million visits annually and provide a unique platform for retailers and brands to connect… Read more