Added to YB: 2024-12-02
Pitch date: 2024-11-25
IWG.L [bullish]
International Workplace Group plc
+34.91%
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 1.64
Price Target
N/A
Dividend
0.33%
EV/EBITDA
5.77
P/E
125.82
EV/Sales
2.76
Sector
Real Estate Management and Development
Category
value
IWG plc: A Profitable WeWork Alternative with Catalysts for Growth and Undervalued Potential
IWG.L: WeWork-like but profitable. 4 catalysts: 1) Higher dividends (5% yield) 2) CapEx-lite shift (90% growth CapEx reduction) 3) EBITDA doubling to $1B by 2028 via franchise growth 4) Potential US relisting. Currently cheap at 14% FCF yield, with upside from franchise expansion and multiple re-rating. Risks: growth execution.
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