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 1,240 836.4 982.8 797.2 656.7 728.2 - -
Change - -32.53% 17.51% -18.89% -17.62% 10.9% - -
Enterprise Value (EV) 1 1,797 1,738 1,838 1,617 1,403 1,357 1,343 1,345
Change - -3.28% 5.72% -12.02% -13.22% -3.29% -1.06% 0.2%
P/E 10.1x -21.9x -5.1x 148x -5.46x -15.6x 13.1x 9.47x
PBR - - 0.63x 0.54x 0.5x 0.59x 0.58x 0.56x
PEG - 0x -0x -1x 0x 0.3x -0x 0.2x
Capitalization / Revenue 9.33x 4.8x 7.79x 6.53x 5.79x 7.22x 6.91x 6.42x
EV / Revenue 13.5x 9.98x 14.6x 13.2x 12.4x 13.5x 12.7x 11.9x
EV / EBITDA 25.6x 17.8x 17.8x 16.4x 15.1x 17.5x 16.7x 15.6x
EV / EBIT 26.7x 18.3x 18.2x 16.4x 15.3x 17.8x 17x 15.4x
EV / FCF 26.8x -14.3x - 91.3x 126x 14.9x 134x 74.7x
FCF Yield 3.73% -6.98% - 1.09% 0.79% 6.71% 0.74% 1.34%
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% 5.2% 4.71% 4.98%
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 3.780 3.780 3.780
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.($)
-15.63x13.45x17.46x5.2% 99Cr
39.88x15.8x16.08x5.27% 5.85TCr
16.95x23.57x28.24x3.4% 1.76TCr
8.6x12.25x15.01x5.57% 1.66TCr
19.95x16.71x23.99x5.07% 1.48TCr
9.93x13.6x16.16x5.22% 1.26TCr
27.76x10.93x17.24x3.91% 1.01TCr
8.02x20.59x27.85x3.16% 970.77Cr
14.94x11.97x18.61x6.23% 952.75Cr
35.28x7.55x12.13x5.59% 898.59Cr
Average 16.57x 14.64x 19.28x 4.86% 1.59TCr
Weighted average by Cap. 25.07x 15.47x 18.78x 4.93%

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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