Professional
Added to YB: 2024-06-25
Pitch date: 2024-05-07
IWG.L [bullish]
International Workplace Group plc
+15.67%
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 1.91
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
Buckley Capital Portfolio Holding: International Workplace Group plc
IWG.L: Largest co-working space owner transitioning to capital-light model. 1000 new managed properties/yr. Est. 15% EBITDA growth, 30% FCF growth. New conservative guidance approach. 5yr outlook: 2x system revenue, 40% fee-based income. Current <6x EBITDA multiple; potential 10x. 35-40% IRR over 5yrs. Risks: economic sensitivity, commercial RE exposure. Benefiting from WeWork bankruptcy.
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