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 1,240 836.4 982.8 797.2 656.7 713.6 - -
Change - -32.53% 17.51% -18.89% -17.62% 8.67% - -
Enterprise Value (EV) 1 1,797 1,738 1,838 1,617 1,403 1,342 1,328 1,331
Change - -3.28% 5.72% -12.02% -13.22% -4.33% -1.07% 0.2%
P/E 10.1x -21.9x -5.1x 148x -5.46x -15.3x 12.8x 9.28x
PBR - - 0.63x 0.54x 0.5x 0.58x 0.57x 0.55x
PEG - 0x -0x -1x 0x 0.2x -0x 0.2x
Capitalization / Revenue 9.33x 4.8x 7.79x 6.53x 5.79x 7.07x 6.77x 6.29x
EV / Revenue 13.5x 9.98x 14.6x 13.2x 12.4x 13.3x 12.6x 11.7x
EV / EBITDA 25.6x 17.8x 17.8x 16.4x 15.1x 17.3x 16.6x 15.4x
EV / EBIT 26.7x 18.3x 18.2x 16.4x 15.3x 17.6x 16.8x 15.2x
EV / FCF 26.8x -14.3x - 91.3x 126x 14.8x 133x 73.9x
FCF Yield 3.73% -6.98% - 1.09% 0.79% 6.78% 0.75% 1.35%
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% 5.31% 4.8% 5.08%
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 3.704 3.704 3.704
Nbr of stocks (in thousands) 180,963 191,478 191,775 192,086 192,289 192,649 - -
Announcement Date 6/8/22 A 5/25/23 A 6/5/24 A 6/5/25 A 6/10/26 A - - -
1GBP in Million2GBP
Estimates

P/E, Detailed evolution



P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
-15.15x13.23x17.16x5.37% 955M
40.24x15.69x16.05x5.29% 58.23B
16.65x23.35x27.98x3.46% 17.3B
8.42x12.14x14.88x5.69% 16.27B
19.53x16.48x23.66x5.18% 14.57B
9.94x13.61x16.17x5.21% 12.6B
27.65x10.97x17.27x3.9% 10.18B
7.76x20.31x27.48x3.2% 9.53B
14.57x11.79x18.33x6.38% 9.35B
36.05x7.62x12.25x5.47% 9.18B
Average 16.57x 14.52x 19.12x 4.92% 15.82B
Weighted average by Cap. 25.20x 15.33x 18.63x 4.97%

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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