Professional
Added to YB: 2025-03-07
Pitch date: 2025-01-30
IWG.L [neutral]
International Workplace Group plc
+30.94%
current return
Author Info
Greenhaven Road is a boutique hedge fund with the patience and confidence to step outside of the norm. 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 2.8B
Pitch Price
GBP 1.69
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
growth
Greenhaven Road Capital Main Fund Portfolio Holding: International Workplace Group plc
IWG.L (update): Flexible office space leader shifting to asset-light model. 7x est. 2024 OCF. Growth via partnerships (3-yr maturity) not yet reflected in financials. 2025 catalysts: debt paydown, buybacks, GAAP transition, US listing. Partnership biz similar to Hilton/Hyatt (30x/20x FCF) but undervalued. Expecting rapid profit growth as signed locations open.
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