Unibail-Rodamco-Westfield (URW) - Net Assets
Based on the latest financial reports, Unibail-Rodamco-Westfield (URW) has net assets worth €22.00 Billion EUR (≈ $25.71 Billion USD) as of June 2026. Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets (€50.40 Billion ≈ $58.92 Billion USD) and total liabilities (€28.41 Billion ≈ $33.21 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 Unibail-Rodamco-Westfield PP&E and investment ratio to assess the company's strategic physical and investment asset allocation.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | €22.00 Billion |
| % of Total Assets | 43.64% |
| 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. For live market cap and overall valuation, see URW market cap.
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. Also explore URW net assets growth trend to track the company's year-over-year net asset growth rate.
| 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% |
| Common Stock | €716.80 Million | 4.05% |
| Other Comprehensive Income | €-296.50 Million | -1.67% |
| Other Components | €16.01 Billion | 90.46% |
| 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 |
|---|---|
|
Galp Energia SGPS S.A.
LS:GALP
|
$13.45 Billion |
|
JERONIMO MARTINS UN.ADR/2
F:JEM0
|
$13.46 Billion |
|
Postal Savings Bank of China Co Ltd
F:3YB
|
$13.47 Billion |
|
Lingyi iTech Guangdong Co
SHE:002600
|
$13.49 Billion |
|
BWX Technologies Inc
NYSE:BWXT
|
$13.44 Billion |
|
Fabrinet
NYSE:FN
|
$13.43 Billion |
|
XCMG Construction Machinery Co Ltd
SHE:000425
|
$13.43 Billion |
|
CP ALL Public Company Limited
BK:CPALL-R
|
$13.41 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 3,723,100,000.
- Other factors increased equity by 2,987,700,000.
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 | €-3.72 Billion | -21.03% |
| Other Changes | €2.99 Billion | +16.88% |
| 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: 0.77x
- 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 1.51x to 0.77x 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 | €93.88 | x |
| 2005-12-31 | €88.48 | €93.88 | x |
| 2006-12-31 | €129.94 | €93.88 | x |
| 2007-12-31 | €195.92 | €93.88 | x |
| 2008-12-31 | €140.75 | €93.88 | x |
| 2009-12-31 | €124.11 | €93.88 | x |
| 2010-12-31 | €118.75 | €93.88 | x |
| 2011-12-31 | €124.73 | €93.88 | x |
| 2012-12-31 | €138.58 | €93.88 | x |
| 2013-12-31 | €141.04 | €93.88 | x |
| 2014-12-31 | €139.78 | €93.88 | x |
| 2015-12-31 | €159.92 | €93.88 | x |
| 2016-12-31 | €169.96 | €93.88 | x |
| 2017-12-31 | €183.38 | €93.88 | x |
| 2018-12-31 | €223.48 | €93.88 | x |
| 2019-12-31 | €198.91 | €93.88 | x |
| 2020-12-31 | €140.01 | €93.88 | x |
| 2021-12-31 | €136.53 | €93.88 | x |
| 2022-12-31 | €137.52 | €93.88 | x |
| 2023-12-31 | €123.82 | €93.88 | x |
| 2024-12-31 | €125.21 | €93.88 | x |
| 2025-12-31 | €121.67 | €93.88 | 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: $2,501,306,326
- Average return on equity (ROE) among peers: 7.75%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Unibail-Rodamco-Westfield (URW) | €22.00 Billion | 29.40% | 1.29x | $13.44 Billion |
| Carmila SA (CARM) | $-5.48 Million | 0.00% | 0.00x | $2.32 Billion |
| Frey SA (FREY) | $70.56 Million | 18.86% | 1.27x | $1.09 Billion |
| Klepierre SA (LI) | $12.89 Billion | 6.51% | 0.92x | $11.12 Billion |
| Mercialys SA (MERY) | $1.68 Billion | 8.78% | 0.05x | $1.09 Billion |
| Patrimoine et Commerce SA (PAT) | $64.90 Million | 7.97% | 1.77x | $401.46 Million |
| Selectirente (SELER) | $304.77 Million | 4.40% | 0.90x | $351.62 Million |
About Unibail-Rodamco-Westfield
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. This network includes 65 owned shopping centres in the US and Europe that… Read more