Workspace Group Plc

LSE:WKP Stock Report

Market Cap: UK£949.9m

Workspace Group Valuation

Is WKP undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

6/6

Valuation Score 6/6

  • 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 (£4.95) is trading below our estimate of fair value (£7.37)

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.

The above table shows the Price to Sales ratio for WKP. This is calculated by dividing WKP's market cap by their current revenue.
What is WKP's PS Ratio?
PS Ratio5.1x
SalesUK£186.00m
Market CapUK£949.86m

Price to Sales Ratio vs Peers

How does WKP's PS Ratio compare to its peers?

The above table shows the PS ratio for WKP vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PSEstimated GrowthMarket Cap
Peer Average5.3x
GPE Great Portland Estates
7.8x3.2%UK£1.2b
GWI Globalworth Real Estate Investments
3.2xn/a€744.0m
DLN Derwent London
8x-1.4%UK£2.2b
CLI CLS Holdings
2.1x-0.6%UK£325.5m
WKP Workspace Group
5.1x-1.9%UK£949.9m

Price-To-Sales vs Peers: WKP is good value based on its Price-To-Sales Ratio (5.1x) compared to the peer average (5.3x).

Price to Sales Ratio vs Industry

How does WKP's PS Ratio compare vs other companies in the European Office REITs Industry?

1 CompanyPrice / SalesEstimated GrowthMarket Cap
WKP 5.1xIndustry Avg. 7.8xNo. of Companies3PS048121620+
1 CompanyEstimated GrowthMarket Cap
No more companies

Price-To-Sales vs Industry: WKP is good value based on its Price-To-Sales Ratio (5.1x) compared to the European Office REITs industry average (7.8x).

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.

WKP PS Ratio vs Fair Ratio.
Fair Ratio
Current PS Ratio5.1x
Fair PS Ratio6.3x

Price-To-Sales vs Fair Ratio: WKP is good value based on its Price-To-Sales Ratio (5.1x) compared to the estimated Fair Price-To-Sales Ratio (6.3x).

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

The above table shows the analyst WKP forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentUK£4.95
UK£6.70
+35.5%
5.6%UK£7.55UK£6.30n/a11
Dec ’25UK£5.63
UK£6.81
+21.0%
5.2%UK£7.55UK£6.40n/a10
Nov ’25UK£5.57
UK£6.85
+23.0%
4.8%UK£7.55UK£6.40n/a10
Oct ’25UK£6.55
UK£6.83
+4.3%
5.2%UK£7.55UK£6.30n/a10
Sep ’25UK£6.17
UK£6.70
+8.5%
5.9%UK£7.20UK£5.70n/a10
Aug ’25UK£6.24
UK£6.70
+7.3%
5.9%UK£7.20UK£5.70n/a10
Jul ’25UK£5.95
UK£6.51
+9.4%
6.9%UK£7.00UK£5.70n/a10
Jun ’25UK£5.35
UK£6.23
+16.5%
7.9%UK£6.95UK£5.17n/a11
May ’25UK£5.01
UK£6.17
+23.2%
8.4%UK£6.95UK£5.17n/a11
Apr ’25UK£5.13
UK£6.27
+22.4%
10.6%UK£7.72UK£5.17n/a11
Mar ’25UK£4.96
UK£6.25
+25.8%
10.9%UK£7.72UK£5.17n/a11
Feb ’25UK£5.15
UK£6.26
+21.7%
10.5%UK£7.72UK£5.32n/a11
Jan ’25UK£5.68
UK£6.14
+8.0%
12.6%UK£7.72UK£4.70n/a10
Dec ’24UK£5.35
UK£6.09
+13.9%
13.7%UK£7.72UK£4.70UK£5.6310
Nov ’24UK£4.98
UK£6.06
+21.6%
13.6%UK£7.00UK£4.40UK£5.5710
Oct ’24UK£4.91
UK£6.04
+23.0%
13.5%UK£7.00UK£4.40UK£6.5510
Sep ’24UK£4.96
UK£6.21
+25.2%
17.2%UK£8.34UK£4.40UK£6.1710
Aug ’24UK£4.92
UK£6.21
+26.1%
17.2%UK£8.34UK£4.40UK£6.2410
Jul ’24UK£4.73
UK£6.19
+30.9%
18.2%UK£8.34UK£4.40UK£5.9510
Jun ’24UK£5.08
UK£6.19
+21.9%
18.2%UK£8.34UK£4.40UK£5.3510
May ’24UK£4.77
UK£6.05
+26.7%
15.7%UK£8.34UK£4.40UK£5.0111
Apr ’24UK£4.37
UK£6.05
+38.5%
15.7%UK£8.34UK£4.40UK£5.1311
Mar ’24UK£5.02
UK£6.05
+20.5%
15.7%UK£8.34UK£4.40UK£4.9611
Feb ’24UK£5.14
UK£5.87
+14.2%
18.2%UK£8.34UK£4.14UK£5.1511
Jan ’24UK£4.45
UK£5.83
+31.2%
18.2%UK£8.34UK£4.14UK£5.6811
Dec ’23UK£4.31
UK£5.86
+36.2%
19.0%UK£8.34UK£4.14UK£5.3510

Analyst Forecast: Target price is more than 20% higher than the current share price and analysts are within a statistically confident range of agreement.

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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2024/12/25 04:08
End of Day Share Price 2024/12/24 00:00
Earnings2024/09/30
Annual Earnings2024/03/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* example for US securities, for non-US equivalent regulatory forms and sources are used.

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.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on .

Analyst Sources

Workspace Group Plc is covered by 26 analysts. 5 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Paul MayBarclays
Paul MayBarclays
Miranda CockburnBerenberg