Company Valuation: Unibail-Rodamco-Westfield SE

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 8,540 6,748 9,305 10,372 13,296 15,083 - -
Change - -20.98% 37.88% 11.47% 28.19% 13.44% - -
Enterprise Value (EV) 1 34,485 29,720 31,279 32,540 31,796 34,834 35,016 34,951
Change - -13.82% 5.24% 4.03% -2.29% 9.56% 0.52% -0.19%
P/E -8.78x 38x -5.71x 69.9x 10.6x 9.48x 8.71x 7.99x
PBR 0.5x 0.35x 0.54x 0.6x 0.77x 0.89x 0.83x 0.78x
PEG - -0x 0x -1x 0x 0.4x 0.98x 0.89x
Capitalization / Revenue 4.66x 3.02x 4.01x 4.27x 5.71x 5.44x 5.34x 5.12x
EV / Revenue 18.8x 13.3x 13.5x 13.4x 13.7x 12.6x 12.4x 11.9x
EV / EBITDA 20.9x 13.5x 14.2x 13.8x 13.9x 15.4x 15.4x 14.7x
EV / EBIT 21x 13.8x 14.6x 14.1x 14.2x 15.2x 16.2x 15.1x
EV / FCF 42x 19.4x 35.7x 36.9x 27.6x 23.2x 26x 17.6x
FCF Yield 2.38% 5.15% 2.8% 2.71% 3.62% 4.31% 3.85% 5.67%
Dividend per Share 2 - - 2.5 3.5 4.5 5.49 6.071 6.419
Rate of return - - 3.74% 4.81% 4.85% 5.26% 5.81% 6.15%
EPS 2 -7.02 1.28 -11.72 1.04 8.72 11.02 11.99 13.07
Distribution rate - - -21.3% 337% 51.6% 49.8% 50.6% 49.1%
Net sales 1 1,833 2,231 2,322 2,427 2,328 2,772 2,827 2,947
EBITDA 1 1,650 2,209 2,199 2,352 2,284 2,262 2,274 2,380
EBIT 1 1,641 2,152 2,148 2,311 2,241 2,295 2,167 2,318
Net income 1 -972.1 178.2 -1,629 146.2 1,268 1,695 1,706 1,912
Net Debt 1 25,945 22,972 21,974 22,168 18,500 19,751 19,933 19,868
Reference price 2 61.62 48.63 66.92 72.72 92.76 104.40 104.40 104.40
Nbr of stocks (in thousands) 1,38,594 1,38,767 1,39,041 1,42,625 1,43,334 1,44,473 - -
Announcement Date 10/02/22 08/02/23 08/02/24 13/02/25 12/02/26 - - -
1EUR in Million2EUR
Estimates

P/E, Detailed evolution

P/E (N) EV / Sales (N) EV / EBITDA (N) Dividend Yield (N) Capi.($)
9.48x12.56x15.4x5.26% 1.74TCr
40.16x15.49x16.17x5.18% 5.85TCr
17.14x23.77x28.68x3.36% 1.77TCr
20.66x17.3x25.75x4.8% 1.55TCr
11.17x14.11x16.79x4.93% 1.32TCr
9.84x21.96x29.68x2.85% 1.06TCr
29.39x11.4x17.89x3.75% 1.06TCr
16.3x12.84x19.53x5.83% 1TCr
27.89x7.34x11.76x5.75% 872.98Cr
-159.64x8.2x19.75x1.88% 745.2Cr
Average 2.24x 14.50x 20.14x 4.36% 1.7TCr
Weighted average by Cap. 17.19x 15.36x 19.40x 4.63%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA

Year-on-year evolution of the Yield

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