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Workspace Group (WKP) Fair Value & Analysis

Real Estate · GB · Market cap 680M GBX

WG Workspace Group WKP · LSE
Price£3.53
Fair Value£4.19
Upside+18.6%
Quality51/100
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Evidence: High Range £2.13 – £6.25

Fair value as of: Jul 17, 2026

From 15 valuation models · updated today

Fair value updated Jul 17, 2026, revised from £0.4800 to £4.19 (+772.9%) since Jun 26, 2026. Share price +7.2% over the past month.

Price vs Fair Value (12 months)

£4.09 £3.04 Fair Value £4.19 Jul 2025 Jul 2026

12‑month range £3.04 – £4.09 · fair‑value band £2.13 – £6.25 · the £3.53 price screens below the £4.19 fair value. As of Jul 17, 2026.

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Analysis

Workspace Group (WKP) currently trades at £3.53, while our model-based Fair Value estimate is £4.19, implying the stock looks roughly 18.6% undervalued today. We read business quality at 51/100 (solid quality), in the Real Estate sector. Bull case: trading below our estimate, it may offer upside if the fundamentals hold. Bear case: a low price can be a value trap when quality is weak or the data is thin (evidence: high), always confirm before acting.

Over the trailing twelve months, Workspace Group generated revenue of £183M at a net margin of -41.5%. Revenue declined 2.5% year over year. It earns a return on equity of -5.2%. Net debt stands at £783M. Fundamentals as of Jul 17, 2026

Our scenario range runs from £2.13 (bear case) to £6.25 (bull case); at £3.53, the current price sits within that range. For context, the median of 10 Real Estate peers we cover trades at -15% fair-value upside, at 19%, WKP screens cheaper than that median.

Key figures & financial health

Revenue (TTM) 181M GBX
Revenue growth (YoY) -1.6%
Net margin -66.3%
Return on equity -8.5%
Free cash flow 60.2M GBX FY2026
Operating margin 53.9%
More key figures
EPS (TTM) £-0.6300
Dividend yield 7.5%
EPS growth (YoY) +901%
Net debt 783M GBX FY2026

Figures from reported company fundamentals (EODHD) · as of Jul 17, 2026. TTM = trailing twelve months.

About the company

Workspace Group Plc is London's leading owner and operator of flexible workspace, currently managing 3.8 million sq. ft. of sustainable space at 57 locations in London and the Southeast. The firm is home to some 4,000 of London's fastest growing and established brands from a diverse range of sectors. Their purpose, to give businesses the freedom to grow, is based on the belief that in the right space, teams can achieve more. That in environments they tailor themselves, free from constraint and compromise, teams are best able to collaborate, build their culture and realise their potential. They have a unique combination of a highly effective and scalable operating platform, a portfolio of distinctive properties, and an ownership model that allows us to offer true flexibility. The firm provide customers with space to create a home for their business, alongside leases that give them the freedom to easily scale up and down within our well-connected, extensive portfolio. They are …

Revenue & earnings trend

FY2022 – FY2026 · reported fiscal years

Workspace Group reported revenue of £181M in FY2026 versus £133M in FY2022, a compound +8.1%/yr. Reported net income was −£120M in FY2026.

Revenue +8.1%/yr
FY22 £133M
FY23 £174M
FY24 £184M
FY25 £185M
FY26 £181M
Net income
FY22 £124M
FY23 −£37.8M
FY24 −£193M
FY25 £5.4M
FY26 −£120M

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Cite: Fair Value Calculator (2026). "Workspace Group Fair Value". https://www.fairvalue-calculator.com/stock/WKP

Similar stocks

10 more REIT - Office stocks, each showing price versus our Fair Value estimate (as of Jul 17, 2026).

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MERLIN Properties SOCIMI, S.A MRL €15.23 €8.74 -43%
BXP, Inc BXP $64.91 $60.75 -6%
Alexandria Real Estate Equities, Inc A1RE34 R$68.51 R$53.19 -22%
Vornado Realty Trust VNORP $51.75 $47.22 -9%
Gecina GECFF $87.89 $128.26 +46%
Hudson Pacific Properties, Inc HPP $14.54 $3.95 -73%
Mapletree Pan Asia Commercial Trust MPCMF $1.07 $0.9200 -14%
Cousins Properties Incorporated CUZ $28.86 $8.62 -70%
Keppel DC REIT KPDCF $1.75 $1.48 -15%
DEXUS DEXSF $4.05 $2.67 -34%

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Frequently asked questions

Is Workspace Group (WKP) undervalued?
As of Jul 17, 2026, our model estimates a fair value of £4.19 versus a price of £3.53, about +19% (undervalued). Model-based estimate, not financial advice.
What is the fair value of WKP?
Our model-based fair value for Workspace Group is £4.19 (as of Jul 17, 2026), built from audited fundamentals. The current price is £3.53.
What is the quality score of WKP?
Workspace Group has a Quality Score of 51/100, measuring profitability, growth and balance-sheet strength from non-valuation factors.
What is the revenue of Workspace Group (WKP)?
Workspace Group reported trailing-twelve-month revenue of about £183M (latest available figure, as of Jul 17, 2026).
What is the net profit margin of WKP?
The net profit margin of Workspace Group is about -41.5%, meaning it is currently running at a net loss. Based on the latest reported figures.
Does Workspace Group pay a dividend?
Workspace Group currently shows a dividend yield of about 8.20% relative to its recent price (as of Jul 17, 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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Not financial advice · no buy/sell recommendation. Model-based estimates are not certainties; their reliability depends on data quality and assumptions.