Added to YB: 2025-05-23
Pitch date: 2025-05-21
IWG.L [bullish]
International Workplace Group plc
+20.53%
current return
Author Info
No bio for this author
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 1.84
Price Target
7.31 (+230%)
Dividend
0.33%
EV/EBITDA
5.77
P/E
125.82
EV/Sales
2.76
Sector
Real Estate Management and Development
Category
turnaround
International Workplace Group (IWG.L, £1.856): Moving towards a Capital Light Model
IWG.L: Global coworking leader pivoting from capital-intensive to capital-light managed/franchised model. Targets $1B EBITDA (vs $557M '24), $500M+ FCF at $3.29B EV. Landlords fund buildouts; IWG takes 15% fee. 4x potential upside with growing pipeline, US GAAP switch, possible US listing. CEO owns 25%. Risks: recession, execution.
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