Company Valuation: Workspace Group Plc

Data adjusted to current consolidation scope
Fiscal Period: March 2022 2023 2024 2025 2026 2027 2028 2029
Market Cap 1 1,240 836.4 982.8 797.2 656.7 705.5 - -
Change - -32.53% 17.51% -18.89% -17.62% 7.43% - -
Enterprise Value (EV) 1 1,797 1,738 1,838 1,617 1,403 1,334 1,320 1,323
Change - -3.28% 5.72% -12.02% -13.22% -4.91% -1.07% 0.2%
P/E 10.1x -21.9x -5.1x 148x -5.46x -15.1x 12.7x 9.17x
PBR - - 0.63x 0.54x 0.5x 0.58x 0.56x 0.55x
PEG - 0x -0x -1x 0x 0.2x -0x 0.2x
Capitalization / Revenue 9.33x 4.8x 7.79x 6.53x 5.79x 6.99x 6.69x 6.22x
EV / Revenue 13.5x 9.98x 14.6x 13.2x 12.4x 13.2x 12.5x 11.7x
EV / EBITDA 25.6x 17.8x 17.8x 16.4x 15.1x 17.2x 16.5x 15.3x
EV / EBIT 26.7x 18.3x 18.2x 16.4x 15.3x 17.5x 16.7x 15.2x
EV / FCF 26.8x -14.3x - 91.3x 126x 14.7x 132x 73.5x
FCF Yield 3.73% -6.98% - 1.09% 0.79% 6.82% 0.76% 1.36%
Dividend per Share 2 0.215 0.258 0.28 0.284 0.261 0.1967 0.178 0.1882
Rate of return 3.14% 5.91% 5.46% 6.84% 7.64% 5.37% 4.86% 5.14%
EPS 2 0.681 -0.199 -1.004 0.028 -0.626 -0.2418 0.2885 0.3992
Distribution rate 31.6% -130% -27.9% 1,014% -41.7% -81.4% 61.7% 47.1%
Net sales 1 132.9 174.2 126.2 122.1 113.4 100.9 105.4 113.4
EBITDA 1 70.1 97.4 103.2 98.8 93.1 77.75 80.18 86.18
EBIT 1 67.4 95.1 100.9 98.8 91.7 76.16 79.14 87.29
Net income 1 123.9 -37.8 -192.5 5.4 -120.3 -46.74 68.87 86.9
Net Debt 1 557.7 902 854.9 819.7 746.5 628.8 614.5 617.1
Reference price 2 6.850 4.368 5.125 4.150 3.415 3.662 3.662 3.662
Nbr of stocks (in thousands) 180,963 191,478 191,775 192,086 192,289 192,649 - -
Announcement Date 08/06/22 25/05/23 05/06/24 05/06/25 10/06/26 - - -
1GBP in Million2GBP
Estimates

P/E, Detailed evolution



P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
37.85x14.93x15.42x5.71% 53.9B
16.61x23.32x27.94x3.47% 17.14B
8.18x12x14.71x5.86% 15.7B
17.75x16.13x23.44x5.32% 14.12B
9.38x13.4x15.96x5.33% 12.24B
26.52x10.67x16.78x4.06% 9.77B
36.61x7.67x12.34x5.38% 9.33B
14.52x11.74x18.45x6.49% 9.14B
7.36x19.61x26.53x3.37% 8.97B
Average 19.42x 14.39x 19.06x 5% 16.7B
Weighted average by Cap. 24.07x 14.93x 18.31x 5.18%

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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