Added to YB: 2024-03-15
Pitch date: 2024-03-10
IWG.L [bullish]
International Workplace Group plc
+23.19%
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 1.80
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
Valuing Growth Potential: IWG plc's Future Prospects
IWG.L: Flexible workspace provider poised for growth. Pre-Covid, expanded rapidly but unit economics worsened. Covid crash, then recovery in occupancy, price & RevPAW. Worka acquisition adds £75M revenue. Accelerating signings signal strong '24 openings & '25-'26 revenue. Shift to capital-light model reduces leverage. Conventional centers to shrink but grow £. Capital-light adds £250M+ EBITDA by '28, can reach £800M target alone. Worka a black box but high growth. Maint. FCF multiple doesn't price in growth potential.
Read full article (4 min)