Workspace Group
Market Cap
€1.2b
Last Updated
2020/08/10 21:08 UTC
Data Sources
Company Financials +
Executive Summary
Established in 1987, and listed on the London Stock Exchange since 1993, Workspace owns and manages some 4 million sq.
Rewards
Risk Analysis
Snowflake Analysis
6 star dividend payer and good value.
Similar Companies
Share Price & News
How has Workspace Group's share price performed over time and what events caused price changes?
Latest Share Price and Events
Stable Share Price: WRX1's share price has been volatile over the past 3 months.
Market Performance
7 Day Return
-1.7%
WRX1
0.9%
DE REITs
0.7%
DE Market
1 Year Return
-26.8%
WRX1
7.2%
DE REITs
8.8%
DE Market
Return vs Industry: WRX1 underperformed the German REITs industry which returned 8.3% over the past year.
Return vs Market: WRX1 underperformed the German Market which returned 8.1% over the past year.
Shareholder returns
| WRX1 | Industry | Market | |
|---|---|---|---|
| 7 Day | -1.7% | 0.9% | 0.7% |
| 30 Day | -1.8% | -1.7% | 0.1% |
| 90 Day | -18.0% | 2.6% | 12.6% |
| 1 Year | -23.1%-26.8% | 7.7%7.2% | 11.2%8.8% |
| 3 Year | -22.9%-31.3% | -1.3%-14.3% | 5.4%-3.0% |
| 5 Year | -43.8%-52.2% | 2.1%-18.6% | 15.9%0.3% |
Price Volatility Vs. Market
How volatile is Workspace Group's share price compared to the market and industry in the last 5 years?
Simply Wall St News
No news available
Valuation
Is Workspace Group undervalued compared to its fair value and its price relative to the market?
17.0%
Undervalued compared to fair value
Share Price vs. Fair Value
Below Fair Value: WRX1 (€6.49) is trading below our estimate of fair value (€7.82)
Significantly Below Fair Value: WRX1 is trading below fair value, but not by a significant amount.
Price To Earnings Ratio
PE vs Industry: WRX1 is poor value based on its PE Ratio (15x) compared to the DE REITs industry average (8.5x).
PE vs Market: WRX1 is good value based on its PE Ratio (15x) compared to the German market (21.5x).
Price to Earnings Growth Ratio
PEG Ratio: WRX1 is good value based on its PEG Ratio (0.7x)
Price to Book Ratio
PB vs Industry: WRX1 is good value based on its PB Ratio (0.5x) compared to the DE REITs industry average (1.5x).
Next Steps
Future Growth
How is Workspace Group forecast to perform in the next 1 to 3 years based on estimates from 5 analysts?
22.8%
Forecasted annual earnings growth
Earnings and Revenue Growth Forecasts
Analyst Future Growth Forecasts
Earnings vs Savings Rate: WRX1's forecast earnings growth (22.8% per year) is above the savings rate (0.2%).
Earnings vs Market: WRX1's earnings (22.8% per year) are forecast to grow slower than the German market (24.5% per year).
High Growth Earnings: earnings are expected to grow significantly over the next 3 years.
Revenue vs Market: WRX1's revenue (2.2% per year) is forecast to grow slower than the German market (5.9% per year).
High Growth Revenue: WRX1's revenue (2.2% per year) is forecast to grow slower than 20% per year.
Earnings per Share Growth Forecasts
Future Return on Equity
Future ROE: WRX1's Return on Equity is forecast to be low in 3 years time (4.6%).
Next Steps
Past Performance
How has Workspace Group performed over the past 5 years?
-27.2%
Historical annual earnings growth
Earnings and Revenue History
Quality Earnings: WRX1 has high quality earnings.
Growing Profit Margin: WRX1's current net profit margins (44.7%) are lower than last year (91.9%).
Past Earnings Growth Analysis
Earnings Trend: WRX1's earnings have declined by 27.2% per year over the past 5 years.
Accelerating Growth: WRX1's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.
Earnings vs Industry: WRX1 had negative earnings growth (-47.5%) over the past year, making it difficult to compare to the REITs industry average (25.3%).
Return on Equity
High ROE: WRX1's Return on Equity (3.6%) is considered low.
Next Steps
Financial Health
How is Workspace Group's financial position?
Financial Position Analysis
Short Term Liabilities: WRX1's short term assets (£115.4M) exceed its short term liabilities (£92.1M).
Long Term Liabilities: WRX1's short term assets (£115.4M) do not cover its long term liabilities (£645.4M).
Debt to Equity History and Analysis
Debt Level: WRX1's debt to equity ratio (31.3%) is considered satisfactory.
Reducing Debt: WRX1's debt to equity ratio has increased from 27.3% to 31.3% over the past 5 years.
Debt Coverage: WRX1's debt is not well covered by operating cash flow (13.5%).
Interest Coverage: WRX1's interest payments on its debt are well covered by EBIT (4.5x coverage).
Balance Sheet
Next Steps
Dividend
What is Workspace Group current dividend yield, its reliability and sustainability?
6.02%
Current Dividend Yield
Dividend Yield vs Market
Notable Dividend: WRX1's dividend (6.02%) is higher than the bottom 25% of dividend payers in the German market (1.23%).
High Dividend: WRX1's dividend (6.02%) is in the top 25% of dividend payers in the German market (3.78%)
Stability and Growth of Payments
Stable Dividend: WRX1's dividends per share have been stable in the past 10 years.
Growing Dividend: WRX1's dividend payments have increased over the past 10 years.
Current Payout to Shareholders
Dividend Coverage: With its reasonable payout ratio (72%), WRX1's dividend payments are covered by earnings.
Future Payout to Shareholders
Future Dividend Coverage: WRX1's dividends in 3 years are forecast to be covered by earnings (80.4% payout ratio).
Next Steps
Management
How experienced are the management team and are they aligned to shareholders interests?
0.8yrs
Average management tenure
CEO
Graham Clemett (59 yo)
1.17yrs
Tenure
UK£1,633,300
Compensation
Mr. Graham Clemett, BSc., ACA, has been the Chief Executive Officer of Workspace Group plc since September 24, 2019 and served as its Interim Chief Executive Officer since June 2019 until September 24, 201 ...
CEO Compensation Analysis
Compensation vs Market: Graham's total compensation ($USD2.14M) is above average for companies of similar size in the German market ($USD1.48M).
Compensation vs Earnings: Graham's compensation has increased by more than 20% whilst company earnings have fallen more than 20% in the past year.
Leadership Team
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| CEO & Director | 1.17yrs | UK£1.63m | 0.071% £ 852.9k | |
| CFO & Director | 0.33yr | no data | no data | |
| Operations Director | 12.83yrs | UK£16.50k | 0.095% £ 1.2m | |
| Investment Director | no data | no data | no data | |
| Chief Accountant | no data | no data | no data | |
| Interim Head of Investor Relations | no data | no data | no data | |
| Head of Corporate Communications | no data | no data | no data | |
| Head of Sales | no data | no data | no data | |
| Head of People | 0.33yr | no data | no data | |
| Head of Professional Services | no data | no data | no data | |
| Development Director | no data | no data | 0.34% £ 4.1m | |
| Head of Finance | no data | no data | no data |
0.8yrs
Average Tenure
60yo
Average Age
Experienced Management: WRX1's management team is not considered experienced ( 0.8 years average tenure), which suggests a new team.
Board Members
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| CEO & Director | 1.17yrs | UK£1.63m | 0.071% £ 852.9k | |
| CFO & Director | 0.33yr | no data | no data | |
| Independent Non-Executive Chairman | 0.083yr | UK£51.00k | 0.013% £ 157.9k | |
| Senior Independent Non-Executive Director | 6.08yrs | UK£61.80k | no data | |
| Independent Non-Executive Director | 7.25yrs | UK£51.00k | no data | |
| Independent Non-Executive Director | 0.58yr | UK£10.20k | no data | |
| Independent Non-Executive Director | 8.25yrs | UK£61.80k | 0.0011% £ 13.5k |
6.1yrs
Average Tenure
62.5yo
Average Age
Experienced Board: WRX1's board of directors are considered experienced (6.1 years average tenure).
Ownership
Who are the major shareholders and have insiders been buying or selling?
Insider Trading Volume
Insider Buying: WRX1 insiders have sold more shares than they have bought in the past 3 months.
Recent Insider Transactions
Ownership Breakdown
Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.
Top Shareholders
Company Information
Workspace Group plc's company bio, employee growth, exchange listings and data sources
Key Information
- Name: Workspace Group plc
- Ticker: WRX1
- Exchange: DB
- Founded: 1987
- Industry: Office REITs
- Sector: Real Estate
- Market Cap: UK£1.086b
- Listing Market Cap: UK£1.208b
- Shares outstanding: 180.93m
- Website: https://www.workspace.co.uk
Number of Employees
Location
- Workspace Group plc
- Canterbury Court, Kennington Park
- Business Centre, 1-3 Brixton Road
- London
- East Lothian
- SW9 6DE
- United Kingdom
Listings
| Ticker | Exchange | Primary Security | Security Type | Country | Currency | Listed on |
|---|---|---|---|---|---|---|
| WKP | LSE (London Stock Exchange) | Yes | Ordinary Shares | GB | GBP | Dec 1993 |
| WRX1 | DB (Deutsche Boerse AG) | Yes | Ordinary Shares | DE | EUR | Dec 1993 |
| WKPL | BATS-CHIXE (BATS 'Chi-X Europe') | Yes | Ordinary Shares | GB | GBP | Dec 1993 |
Biography
Established in 1987, and listed on the London Stock Exchange since 1993, Workspace owns and manages some 4 million sq. ft. of business space in London. We are home to thousands of businesses, including fas ...
Company Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2020/08/10 21:08 |
| End of Day Share Price | 2020/08/10 00:00 |
| Earnings | 2020/03/31 |
| Annual Earnings | 2020/03/31 |
Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.