Professional
Added to YB: 2025-09-03
Pitch date: 2025-08-30
IWG.L [neutral]
International Workplace Group plc
+9.66%
current return
Author Info
Caro-Kann Capital is a research-intensive investment firm focused on small cap stocks. Visit the website.
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 2.02
Price Target
9.81 (+343%)
Dividend
0.33%
EV/EBITDA
5.77
P/E
125.82
EV/Sales
2.76
Sector
Real Estate Management and Development
Category
value
Caro-Kann Capital Portfolio Holding: International Workplace Group plc
IWG.L (holding update): Global flexible workspace leader w/ 4,000+ locations trading at 7x 2025 EBITDA despite secular tailwinds. Transforming to capital-light model, EBITDA growth to $1B by 2029. Founder-CEO owns 25%, aggressive buybacks starting. Digital segment Worka provides optionality. 3-5x return potential over 3-5 years from EBITDA growth, buybacks & multiple expansion.
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