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 1,240 836.4 982.8 797.2 656.7 685.8 - -
Change - -32.53% 17.51% -18.89% -17.62% 4.44% - -
Enterprise Value (EV) 1 1,797 1,738 1,838 1,617 1,403 1,315 1,300 1,303
Change - -3.28% 5.72% -12.02% -13.22% -6.31% -1.09% 0.2%
P/E 10.1x -21.9x -5.1x 148x -5.46x -14.7x 12.3x 8.92x
PBR - - 0.63x 0.54x 0.5x 0.56x 0.55x 0.53x
PEG - 0x -0x -1x 0x 0.2x -0x 0.2x
Capitalization / Revenue 9.33x 4.8x 7.79x 6.53x 5.79x 6.8x 6.51x 6.05x
EV / Revenue 13.5x 9.98x 14.6x 13.2x 12.4x 13x 12.3x 11.5x
EV / EBITDA 25.6x 17.8x 17.8x 16.4x 15.1x 16.9x 16.2x 15.1x
EV / EBIT 26.7x 18.3x 18.2x 16.4x 15.3x 17.3x 16.4x 14.9x
EV / FCF 26.8x -14.3x - 91.3x 126x 14.4x 130x 72.4x
FCF Yield 3.73% -6.98% - 1.09% 0.79% 6.92% 0.77% 1.38%
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% 5.53% 5% 5.29%
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 3.560 3.560 3.560
Nbr of stocks (in thousands) 1,80,963 1,91,478 1,91,775 1,92,086 1,92,289 1,92,649 - -
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.($)
-14.97x13.15x17.06x5.43% 93Cr
37.44x14.86x15.34x5.77% 5.33TCr
16.74x23.44x28.08x3.44% 1.71TCr
8.22x12.06x14.78x5.81% 1.57TCr
17.6x16.04x23.3x5.37% 1.4TCr
9.27x13.31x15.86x5.39% 1.2TCr
26.06x10.54x16.58x4.14% 959.78Cr
36.84x7.7x12.37x5.35% 938.32Cr
14.39x11.65x18.31x6.55% 904.41Cr
7.37x19.66x26.6x3.36% 891.33Cr
Average 15.90x 14.24x 18.83x 5.06% 1.5TCr
Weighted average by Cap. 23.65x 14.89x 18.27x 5.21%

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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