Professional
Added to YB: 2026-05-06
Pitch date: 2026-04-30
IWG.L [neutral]
International Workplace Group plc
-1.49%
current return
Author Info
Caro-Kann Capital is a research-intensive investment firm focused on small cap stocks. Visit the website.
Company Info
International Workplace Group plc, together with its subsidiaries, provides workspace solutions in the Americas, Europe, the Middle East, Africa, and the Asia Pacific.
Market Cap
GBP 2.5B
Pitch Price
GBP 1.88
Price Target
N/A
Dividend
0.55%
EV/EBITDA
5.06
P/E
141.59
EV/Sales
2.54
Sector
Real Estate Management and Development
Category
growth
Caro-Kann Capital Portfolio Holding: International Workplace Group plc
IWG.L (holding update): Largest flex workspace provider w/ 4,600+ locations trading 5-6x 2026 EBITDA. Shift to capital-light model, EBITDA path to $1B by 2029-30. Founder-CEO owns 25%, aggressive buybacks ongoing. 3-5x return potential over 3-5 years from EBITDA growth + multiple expansion. Q1 2026 selloff on AI/oil fears seen as overblown—uncertainty boosts flex workspace demand vs long-term leases.
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