Added to YB: 2024-08-16
Pitch date: 2024-08-15
IWG.L [bullish]
International Workplace Group plc
+31.5%
current return
Author Info
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Company Info
International Workplace Group plc, together with its subsidiaries, provides workspace solutions in the Americas, Europe, the Middle East, Africa, and the Asia Pacific.
Market Cap
GBP 2.8B
Pitch Price
GBP 1.68
Price Target
11.83 (+434%)
Dividend
0.33%
EV/EBITDA
5.77
P/E
125.82
EV/Sales
2.76
Sector
Real Estate Management and Development
Category
growth
IWG - Updated Thoughts and Forecasts Post H1
IWG.L: 600% upside in 4yrs. H1 annualized EBITDA $550M, beating 2024 est. M&F growth, buybacks in Q2 2025. 6-7x 2025 FCF, 40%+ FCF/share growth. 1x leverage target Q1 2025. IG bond issued, convert buyback. M&F signings +25% YoY. O&L margins expanding. 22% FCF CAGR 2025-28, 46% per share. Re-rating to 15x FCF possible.
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