# Workspace Group plc (WKP.L) fundamentals

Data as of 2026-09-08. LSE, United Kingdom. Sector: Real Estate / Equity Real Estate Investment Trusts (REITs). Price 365p, market value 704 millionp.

## Valuation
- **P/E (trailing): n/a** (negative earnings). Workspace Group plc reported negative earnings over the last twelve months, so the P/E is not meaningful; use price-to-sales, EV/EBITDA and free-cash-flow yield instead.
- **Price / sales: 1.9×**. Each dollar of revenue is priced at 1.9×.
- **Price / book: 0.5×**. The shares trade below book value, which can signal a bargain or a balance sheet the market doubts.
- **EV / EBITDA: 12.8×**. Enterprise value is 12.8× operating earnings before depreciation, the multiple that ignores how the company is financed.
- **Free-cash-flow yield: 19.1%** (5-yr avg 0.1%). Free cash flow equals 19.1% of the market value, above its five-year average of 0.1%, so the shares are cheaper on cash than they have usually been. Above 5% is generally attractive.

## Profitability
- **Gross margin: 62.4%**. Workspace Group plc keeps 62.4% of revenue after the direct cost of what it sells, the kind of margin that comes with software, brands or pricing power.
- **Operating margin: 45.8%**. 45.8% of revenue is left after running the business, an exceptional level.
- **Net margin: -66.3%**. The company reported a net loss over the last twelve months.
- **Return on equity: -9.1%**. Return on equity is negative because earnings are negative.
- **Return on invested capital: 8.0%**. Return on all capital, debt included, is 8.0%.
- **Return on assets: -5.2%**. Each dollar of assets produces -5.2% of profit.

## Growth
- **Revenue growth (1 yr): -2.1%** (3-yr 1.4%/yr, 5-yr 5.0%/yr). Revenue fell 2.1% over the last year, against 5.0% a year compounded over five years: growth is slowing.
- **EPS growth (1 yr): -2350.0%**. Earnings per share fell 2350.0%, slower than revenue, so margins compressed.
- **Free-cash-flow growth (3 yr): -7.0%/yr**. Free cash flow has compounded at -7.0% a year over three years.

## Financial health
- **Debt to equity: 0.60**. Debt is 0.60 times equity, moderate leverage.
- **Net debt / EBITDA: 6.7×**. It would take 6.7 years of operating earnings to repay net borrowings, above the 3× level most lenders treat as comfortable.
- **Interest coverage: 2.5×**. Operating profit covers interest 2.5×, thin but manageable.
- **Current ratio: 0.42** (quick 0.42). Current liabilities exceed current assets, so the company depends on ongoing cash generation or refinancing to pay the next year's bills.
- **Altman Z-score: 1.51**. A Z-score of 1.51 is in the distress zone, a signal to examine the balance sheet closely.
- **Piotroski F-score: 4/9**. 4 of 9 checks pass: mixed.

## Dividends
- **Dividend yield: 7.15%** (0p per share, trailing). Workspace Group plc yields 7.15%, high enough to check carefully: yields this high often precede a cut.
- **Consecutive years of increases: 4**. 4 straight years of increases.
- **Dividend growth (5 yr): -4.7%/yr** (1-yr 1.4%). The dividend has not grown over five years.
- **Shareholder yield: 7.2%**. Dividends plus net buybacks return 7.2% of the market value a year.

## Analyst view
- **Analyst consensus: buy** (9 analysts). 9 analysts cover Workspace Group plc; the consensus is buy, with an average price target of 394p (+8% from the current price). Analyst opinion is shown for context; it is not part of the Fundamental Score.

## Price and momentum
- **Total return (1 yr): -6.7%** (YTD -6.6%, 3-mo 13.2%). The shares are down 6.7% over twelve months including dividends.
- **From 52-week high: -15.9%** (17.1% above the low). Trading 16% below its 52-week high.
- **200-day average: above**. The price sits above its 200-day moving average, the usual definition of an uptrend.
- **RSI (14-day): 59**. An RSI of 59 is neutral.
- **Beta (1 yr): 0.86** (volatility 26%). Beta of 0.86 against the FTSE All-Share: the shares move roughly with the market.

Live score and charts: https://foliofundamentals.com/analyzer?s=WKP.L · Page: https://foliofundamentals.com/stocks/wkp.l

Not investment advice.