Professional
Added to YB: 2025-02-18
Pitch date: 2025-02-14
IWG.L [bullish]
International Workplace Group plc
+12.99%
current return
Author Info
1 Main Capital is a long-biased investment partnership that invests primarily in high-quality, attractively valued, growing businesses. Visit their fund 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 1.96
Price Target
400.00 (+17967%)
Dividend
0.33%
EV/EBITDA
5.77
P/E
125.82
EV/Sales
2.76
Sector
Real Estate Management and Development
Category
value
1 Main Capital Partners Portfolio Holding: International Workplace Group plc
IWG.L: Global flexible office leader, $4B system sales, 4k+ locations. Shifting to managed/franchised model (15% of sales, breakeven) with $500M EBITDA potential by 2030. Non-M&F FCF ~$300M by 2025. GAAP switch, leverage target, buybacks, M&F growth create attractive setup at low valuation. CEO owns 25%.
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