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IWG PLC (IWG) Fair Value & Analysis

Real Estate · GB · Market cap 1.8B GBX

IP IWG PLC IWG · LSE
Price£1.75
Fair Value£0.3000
Upside-82.9%
Quality43/100

Structural break: The valuation model sees a lasting decline in earnings power for this stock, the confidence band is broken. Treat the target with caution.

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Strengths

Healthy Growth
Negative equity (buybacks among others) · generates free cash flow

Risks

!Trades 83% ABOVE our fair value of £0.3000
!Thin margins · 0.5% net margin
!Trails peers (4/14)
!Narrow moat 34/100
Healthy Growth
Thin margins · 0.5% net margin
Negative equity (buybacks among others) · generates free cash flow
0.74% dividend yield
Trails peers (4/14)
Narrow moat 34/100
Evidence: High Range £0.2300 – £0.3800 Share as image

Fair value as of: Aug 20, 2026

From 23 valuation models · updated yesterday

Fair value updated Aug 20, 2026, revised from £0.4100 to £0.3000 (−26.8%) since Aug 13, 2026. Share price −10.2% over the past month.

Below-average quality, and screening another 83% overvalued on our models.

What matters now

  • The price sits above even our optimistic bull case (£0.3800). The favourable scenario is already priced in.
  • Weak quality (43/100) and above fair value at the same time, the margin of safety is missing on both counts.
  • As a real-estate business, asset- and dividend-based methods carry more weight here than a standard DCF.
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Price vs Fair Value (5 years)

£3.74 £1.14 Fair Value £0.3000 May 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 20, 2026.

How to read this chart

60‑month range £1.14 – £3.74 · fair‑value band £0.2300 – £0.3800 · the £1.75 price screens above the £0.3000 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Aug 20, 2026.

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Analysis

IWG PLC (IWG) currently trades at £1.75, while our model-based Fair Value estimate is £0.3000, implying the stock looks roughly 82.9% overvalued today. The Quality Score stands at 43/100 (below-average quality), in the Real Estate sector. Bear case: priced above our estimate, the market already discounts strong expectations. Bull case: above-average quality can justify a premium, the entry price still matters most (evidence: high).

Over the trailing twelve months, IWG PLC generated revenue of £3.8B at a net margin of 0.5%. Revenue grew 1.4% year over year. It earns a return on equity of 15.1%. Net debt stands at £7.1B. Fundamentals as of Aug 20, 2026

Our scenario range runs from £0.2300 (bear case) to £0.3800 (bull case); at £1.75, the current price sits above that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. For context, the median of 10 Real Estate peers we cover trades at 15% fair-value upside, at -83%, IWG screens richer than that median.

Fair Value models

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small.

Model Bear Bear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull Bull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. Evidence
Highest evidence
Growth DCF £1.00 £1.90 £3.13 80
Rev-Margin DCF £0.5300 £1.25 £2.14 74
ROIC Compounder £0.0900 £0.3000 72
All 23 models by family
DCF Models
FCF DCF £1.00 £1.99 £3.38 38
Owner Earnings £1.12 £2.17 £3.66 31
5Y Revenue Exit £0.5300 £1.24 £2.15 39
5Y EBITDA Exit £2.60 £5.30 £8.56 41
5Y P/E Exit £0.0600 £0.3200 £0.5900 38
10Y Revenue Exit £0.6700 £1.35 £2.27 36
10Y EBITDA Exit £1.93 £3.98 £6.93 37
10Y P/E Exit £0.4200 £0.7500 £1.14 35
Earnings-Based
Graham-Dodd £0.1300 £0.5000 £0.6800 54
Lynch FV £0.1200 £0.1800 £0.2300 50
PEG = 1.0 £0.1200 £0.1800 £0.2300 46
EPV £0.0300 59
Dividend Discount
Gordon GGM £0.1200 £0.2100 £0.2900 70
DDM Multi-Stage £0.1200 £0.1900 £0.2300 61
Multiples
P/E Multiple £0.3100 £0.4100 £0.5100 63
P/S Multiple £0.2500 £0.3300 £0.4200 58
EV/EBIT £0.7100 £1.22 £1.72 53
EV/EBITDA £4.13 £5.78 £7.43 54
EV/Revenue £0.2700 £0.7400 £1.20 43
Growth DCF
Growth DCF £1.00 £1.90 £3.13 80
Rev-Margin DCF £0.5300 £1.25 £2.14 74
Economic Profit
ROIC Compounder £0.0900 £0.3000 72
Growth Earnings
Growth-Adj P/E £0.2200 £0.3200 £0.4200 68

Widest divergence: DCF Models (£1.35) versus Economic Profit (£0.0900). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) 3.8B GBX
Revenue growth (YoY) +1.4%
Net margin 0.5%
Return on equity 15.1%
Free cash flow 173M GBX FY2025
P/E ratio 175.2
More key figures
Operating margin 4.9%
EPS (TTM) £0.0100
Dividend yield 0.7%
EPS growth (YoY) -21.5%
Net debt 7.1B GBX FY2025

Figures from reported company fundamentals · as of Aug 20, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 43/100

Of which business quality 40 · Market factors (momentum, volatility) 29

Profitability 18
Margins and returns on capital today
Quality Growth 29
Are margins and returns improving?
Cashflow 48
Earnings quality: real cash, not paper profit
Fin. Strength 9
Balance sheet, leverage, solvency risk
Investment 93
Disciplined investing over empire-building
Low Volatility 41
Calm price path (market factor)
Momentum 27
Price trend over the last 3–12 months (market factor)
52W Momentum 17
Distance to the 52-week high (market factor)
Net Issuance 78
Buybacks instead of dilution

Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.

About the company

International Workplace Group plc, together with its subsidiaries, provides workspace solutions in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. The company offers office space, coworking, membership, virtual offices, meeting rooms, and workplace recovery products.

Full company description

International Workplace Group plc, together with its subsidiaries, provides workspace solutions in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. The company offers office space, coworking, membership, virtual offices, meeting rooms, and workplace recovery products. It provides its services franchise partners, landlords, and property owners under the Regus, Signature, Spaces, HQ, Basepoint, Stop & Work, The Office Operators, The Clubhouse, BizDojo, Open Office, No18, Central Working, and Copernico brand names. It also operates Home to work, Easy Offices, Worka, Rovva, Meetingo, and Managed Office Solutions. The company was formerly known as IWG plc and changed its name to International Workplace Group plc in May 2024. International Workplace Group plc was founded in 1989 and is headquartered in Zug, Switzerland.

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

IWG PLC reported revenue of £3.8B in FY2025 versus £2.2B in FY2021, a compound +14.6%/yr. Reported net income was £18.4M in FY2025.

Growth Quality 80/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Latest Revenue (FY 2025)
£3.8B
Latest YoY
+4.1%
Avg. growth/yr (3Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+11.8%
Avg. growth/yr (5Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+9.6%
Avg. growth/yr (22Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+13.1%
Revenue +14.6%/yr
FY21 £2.2B
FY22 £2.8B
FY23 £3.0B
FY24 £3.7B
FY25 £3.8B
Net income
FY21 −£205M
FY22 −£69.0M
FY23 −£215M
FY24 £20.0M
FY25 £18.4M

IWG screens 83% overvalued. Compare with Plaza S.A →

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Cite: Fair Value Calculator (2026). "IWG PLC Fair Value". https://www.fairvalue-calculator.com/stock/IWG

Peer Group

Real Estate Services · 538 stocks

How this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.

Quality Score 44 · Bottom 25%
Fair Value upside −83% · Bottom 25%
Return on equity (TTM) 15% · Top 25%
Return on assets 1% · Below median
Net margin (TTM) 0% · Below median
Operating margin (TTM) 5% · Below median
Revenue growth 1% · Below median
Dividend yield (TTM) 0.8% · Bottom 25%

Valuation Multiples vs Real Estate Services median · lower = cheaper

P/E (TTM) 175.2× · Pricier than 75% of peers
P/S (TTM) 0.66× · Cheaper than median
P/FCF 14.3× · Pricier than 75% of peers
EV/EBITDA 6.9× · Cheaper than 75% of peers
PEG 43.67× · Pricier than 75% of peers

Snowflake

Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE0 · sector 33
FUTURE7 · sector 10
PAST60 · sector 16
HEALTH100 · sector 84
DIVIDEND16 · sector 59

VALUE 0: the price sits above our fair-value range.

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

Similar stocks

10 more Real Estate Services stocks, each showing price versus our Fair Value estimate (as of Aug 20, 2026).

Stock Price Fair Value vs Fair Value
Plaza S.A MALLPLAZA 3,989 CLP 4,571 CLP +15%
PT Solusi Tunas Pratama Tbk SUPR 43,850 IDR 15,049 IDR -66%
Cencosud Shopping S.A CENCOMALLS 2,412 CLP 2,976 CLP +23%
PT Sarana Menara Nusantara Tbk. owns and TOWR 422.00 IDR 1,012 IDR +140%
PT Metropolitan Kentjana Tbk MKPI 22,000 IDR 19,160 IDR -13%
PT Bangun Kosambi Sukses Tbk, CBDK 3,610 IDR 3,464 IDR -4%
IRSA Inversiones y Representaciones Sociedad Anónima, IRSA 2,495 ARS 2,990 ARS +20%
PT Plaza Indonesia Realty Tbk PLIN 2,510 IDR 2,698 IDR +7%
PT MNC Tourism Indonesia Tbk, KPIG 74.00 IDR 122.12 IDR +65%
PT Indonesian Paradise Property Tbk INPP 770.00 IDR 291.52 IDR -62%

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Frequently asked questions

Is IWG PLC (IWG) overvalued or undervalued?
As of Aug 20, 2026, our model estimates a fair value of £0.3000 versus a price of £1.75, about −83% (overvalued).
What is the fair value of IWG?
Our model-based fair value for IWG PLC is £0.3000 (as of Aug 20, 2026), built from audited fundamentals. The current price: £1.75.
What is the quality score of IWG?
IWG PLC has a Quality Score of 43/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the revenue of IWG PLC (IWG)?
IWG PLC reported trailing-twelve-month revenue of about £3.8B (latest available figure, as of Aug 20, 2026).
What is the net profit margin of IWG?
The net profit margin of IWG PLC is about 0.5%, meaning it keeps roughly 0.5% of revenue as net income. Based on the latest reported figures.
Does IWG PLC pay a dividend?
IWG PLC currently shows a dividend yield of about 0.75% relative to its recent price (as of Aug 20, 2026).

How we calculate Fair Value

Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.

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