Professional
Added to YB: 2026-04-21
Pitch date: 2026-04-17
IWG.L [neutral]
International Workplace Group plc
+0.67%
current return
Author Info
Symmetry Invest is a portfolio that focuses on Small- and Mid-cap stocks primarily in Europe and the USA. The long-term objective is to deliver the highest possible growth in net asset value per share at the lowest possible risk. Visit their 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 2.6B
Pitch Price
GBP 1.95
Price Target
13.50 (+587%)
Dividend
0.51%
EV/EBITDA
5.17
P/E
151.96
EV/Sales
2.59
Sector
Real Estate Management and Development
Category
value
Symmetry Invest A/S Portfolio Holding: International Workplace Group plc
IWG.L (holding update): Leading flex-office operator transitioning to asset-light model (50% of rooms now managed/franchised). 2025 mgmt fees +137% YoY w/ 70%+ EBIT margins. 2026E mgmt fees +100%. Bought back 5% shares in 2025, continuing aggressively in 2026. Medium-term target: $1B EBITDA, $600M FCF by 2030. At 15x FCF = $9B value. Est. 50% share buyback thru 2030 = 1,350 GBX/share (~500% upside, 45% CAGR). Currently historically cheap on FCF despite strongest operational position ever.
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