Workspace Group Valuation
Is WKP undervalued compared to its fair value, analyst forecasts and its price relative to the market?
Valuation Score
5/6Valuation Score 5/6
Below Fair Value
Significantly Below Fair Value
Price-To-Sales vs Peers
Price-To-Sales vs Industry
Price-To-Sales vs Fair Ratio
Analyst Forecast
Share Price vs Fair Value
What is the Fair Price of WKP when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.
Below Fair Value: WKP (£5.59) is trading below our estimate of fair value (£8.03)
Significantly Below Fair Value: WKP is trading below fair value by more than 20%.
Key Valuation Metric
Which metric is best to use when looking at relative valuation for WKP?
Key metric: As WKP is unprofitable we use its Price-To-Sales Ratio for relative valuation analysis.
| What is WKP's PS Ratio? | |
|---|---|
| PS Ratio | 5.8x |
| Sales | UK£186.00m |
| Market Cap | UK£1.05b |
| Key Statistics | |
|---|---|
| Enterprise Value/Revenue | 10.4x |
| Enterprise Value/EBITDA | 19x |
| PEG Ratio | n/a |
Price to Sales Ratio vs Peers
How does WKP's PS Ratio compare to its peers?
| Company | Forward PS | Estimated Growth | Market Cap |
|---|---|---|---|
| Peer Average | 5.5x | ||
GPE Great Portland Estates | 8.1x | 1.7% | UK£1.2b |
GWI Globalworth Real Estate Investments | 3.2x | n/a | €746.8m |
DLN Derwent London | 8.5x | -1.4% | UK£2.4b |
CLI CLS Holdings | 2.2x | -0.6% | UK£329.9m |
WKP Workspace Group | 5.8x | -1.9% | UK£1.0b |
Price-To-Sales vs Peers: WKP is expensive based on its Price-To-Sales Ratio (5.8x) compared to the peer average (5.5x).
Price to Sales Ratio vs Industry
How does WKP's PS Ratio compare vs other companies in the European Office REITs Industry?
| 3 Companies | Price / Sales | Estimated Growth | Market Cap |
|---|---|---|---|
| 3 Companies | Estimated Growth | Market Cap | |
|---|---|---|---|
Price-To-Sales vs Industry: WKP is good value based on its Price-To-Sales Ratio (5.8x) compared to the European Office REITs industry average (8.3x).
Price to Sales Ratio vs Fair Ratio
What is WKP's PS Ratio compared to its Fair PS Ratio? This is the expected PS Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.
| Fair Ratio | |
|---|---|
| Current PS Ratio | 5.8x |
| Fair PS Ratio | 6.4x |
Price-To-Sales vs Fair Ratio: WKP is good value based on its Price-To-Sales Ratio (5.8x) compared to the estimated Fair Price-To-Sales Ratio (6.4x).
Analyst Price Targets
What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?
| Date | Share Price | Average 1Y Price Target | Dispersion | High | Low | 1Y Actual price | Analysts |
|---|---|---|---|---|---|---|---|
| Current | UK£5.59 | UK£6.81 +21.9% | 5.2% | UK£7.55 | UK£6.40 | n/a | 10 |
| Nov ’25 | UK£5.57 | UK£6.85 +23.0% | 4.8% | UK£7.55 | UK£6.40 | n/a | 10 |
| Oct ’25 | UK£6.55 | UK£6.83 +4.3% | 5.2% | UK£7.55 | UK£6.30 | n/a | 10 |
| Sep ’25 | UK£6.17 | UK£6.70 +8.5% | 5.9% | UK£7.20 | UK£5.70 | n/a | 10 |
| Aug ’25 | UK£6.24 | UK£6.70 +7.3% | 5.9% | UK£7.20 | UK£5.70 | n/a | 10 |
| Jul ’25 | UK£5.95 | UK£6.51 +9.4% | 6.9% | UK£7.00 | UK£5.70 | n/a | 10 |
| Jun ’25 | UK£5.35 | UK£6.23 +16.5% | 7.9% | UK£6.95 | UK£5.17 | n/a | 11 |
| May ’25 | UK£5.01 | UK£6.17 +23.2% | 8.4% | UK£6.95 | UK£5.17 | n/a | 11 |
| Apr ’25 | UK£5.13 | UK£6.27 +22.4% | 10.6% | UK£7.72 | UK£5.17 | n/a | 11 |
| Mar ’25 | UK£4.96 | UK£6.25 +25.8% | 10.9% | UK£7.72 | UK£5.17 | n/a | 11 |
| Feb ’25 | UK£5.15 | UK£6.26 +21.7% | 10.5% | UK£7.72 | UK£5.32 | n/a | 11 |
| Jan ’25 | UK£5.68 | UK£6.14 +8.0% | 12.6% | UK£7.72 | UK£4.70 | n/a | 10 |
| Dec ’24 | UK£5.35 | UK£6.09 +13.9% | 13.7% | UK£7.72 | UK£4.70 | n/a | 10 |
| Nov ’24 | UK£4.98 | UK£6.06 +21.6% | 13.6% | UK£7.00 | UK£4.40 | UK£5.57 | 10 |
| Oct ’24 | UK£4.91 | UK£6.04 +23.0% | 13.5% | UK£7.00 | UK£4.40 | UK£6.55 | 10 |
| Sep ’24 | UK£4.96 | UK£6.21 +25.2% | 17.2% | UK£8.34 | UK£4.40 | UK£6.17 | 10 |
| Aug ’24 | UK£4.92 | UK£6.21 +26.1% | 17.2% | UK£8.34 | UK£4.40 | UK£6.24 | 10 |
| Jul ’24 | UK£4.73 | UK£6.19 +30.9% | 18.2% | UK£8.34 | UK£4.40 | UK£5.95 | 10 |
| Jun ’24 | UK£5.08 | UK£6.19 +21.9% | 18.2% | UK£8.34 | UK£4.40 | UK£5.35 | 10 |
| May ’24 | UK£4.77 | UK£6.05 +26.7% | 15.7% | UK£8.34 | UK£4.40 | UK£5.01 | 11 |
| Apr ’24 | UK£4.37 | UK£6.05 +38.5% | 15.7% | UK£8.34 | UK£4.40 | UK£5.13 | 11 |
| Mar ’24 | UK£5.02 | UK£6.05 +20.5% | 15.7% | UK£8.34 | UK£4.40 | UK£4.96 | 11 |
| Feb ’24 | UK£5.14 | UK£5.87 +14.2% | 18.2% | UK£8.34 | UK£4.14 | UK£5.15 | 11 |
| Jan ’24 | UK£4.45 | UK£5.83 +31.2% | 18.2% | UK£8.34 | UK£4.14 | UK£5.68 | 11 |
| Dec ’23 | UK£4.31 | UK£5.86 +36.2% | 19.0% | UK£8.34 | UK£4.14 | UK£5.35 | 10 |
| Nov ’23 | UK£4.21 | UK£6.16 +46.3% | 14.5% | UK£8.34 | UK£4.50 | UK£4.98 | 11 |
Analyst Forecast: Target price is more than 20% higher than the current share price and analysts are within a statistically confident range of agreement.
Discover undervalued companies
Cofinimmo
€2.1b
Cofinimmo has been acquiring, developing and managing rental properties for 40 years.
0J3X
€56.26
7D
-0.5%
1Y
-13.2%
Xior Student Housing
€1.3b
Xior Student Housing NV is the first Belgian public regulated real estate company (RREC) specialising in the student housing segment in Belgium, the Netherlands, Spain, Portugal, Germany, Poland, Denmark and Sweden.
0RD8
€30.80
7D
3.7%
1Y
-1.0%
Care REIT
UK£348.1m
Impact Healthcare REIT plc acquires, renovates, extends and redevelops high quality healthcare real estate assets in the UK and lets these assets on long-term full repairing and insuring leases to high-quality established healthcare operators which offer good quality care, under leases which provide the Company with attractive levels of rent cover.
CRT
UK£0.84
7D
2.4%
1Y
-2.1%