Workspace Group plc
Workspace Group Plc is London's leading owner and operator of flexible workspace, currently managing 4.3 million sq. ft. of sustainable space at 65 locations in London and the Southeast. We are home to some 4,000 of London's fastest growing and established brands from a diverse range of sectors. Our purpose, to give businesses the freedom to grow, is based on the belief that in the right space, t… Read more
Workspace Group plc (WKPPF) - Net Assets
Latest net assets as of September 2025: $1.40 Billion USD
Based on the latest financial reports, Workspace Group plc (WKPPF) has net assets worth $1.40 Billion USD as of September 2025.
Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets ($2.35 Billion) and total liabilities ($955.40 Million). This figure indicates the residual interest in the assets after deducting liabilities, essentially showing what would remain for shareholders if all assets were liquidated and all debts paid off.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | $1.40 Billion |
| % of Total Assets | 59.37% |
| Annual Growth Rate | 12.01% |
| 5-Year Change | -12.64% |
| 10-Year Change | -1.01% |
| Growth Volatility | 26.74 |
Workspace Group plc - Net Assets Trend (1989–2025)
This chart illustrates how Workspace Group plc's net assets have evolved over time, based on quarterly financial data. Explore and compare other companies by net assets.
Annual Net Assets for Workspace Group plc (1989–2025)
The table below shows the annual net assets of Workspace Group plc from 1989 to 2025.
| Year | Net Assets | Change |
|---|---|---|
| 2025-03-31 | $1.50 Billion | -3.02% |
| 2024-03-31 | $1.55 Billion | -13.36% |
| 2023-03-31 | $1.79 Billion | -0.66% |
| 2022-03-31 | $1.80 Billion | +4.66% |
| 2021-03-31 | $1.72 Billion | -13.94% |
| 2020-03-31 | $2.00 Billion | +0.81% |
| 2019-03-31 | $1.98 Billion | +15.71% |
| 2018-03-31 | $1.71 Billion | +8.51% |
| 2017-03-31 | $1.58 Billion | +4.01% |
| 2016-03-31 | $1.52 Billion | +32.39% |
| 2015-03-31 | $1.15 Billion | +57.87% |
| 2014-03-31 | $726.10 Million | +45.10% |
| 2013-03-31 | $500.40 Million | +14.93% |
| 2012-03-31 | $435.40 Million | +30.44% |
| 2011-03-31 | $333.80 Million | +16.19% |
| 2010-03-31 | $287.30 Million | +14.05% |
| 2009-03-31 | $251.90 Million | -53.07% |
| 2008-03-31 | $536.80 Million | -7.86% |
| 2007-03-31 | $582.60 Million | +49.27% |
| 2006-03-31 | $390.30 Million | +35.29% |
| 2005-03-31 | $288.50 Million | -2.42% |
| 2004-03-31 | $295.66 Million | +19.41% |
| 2003-03-31 | $247.61 Million | +11.88% |
| 2002-03-31 | $221.32 Million | +17.44% |
| 2001-03-31 | $188.45 Million | +31.77% |
| 2000-03-31 | $143.02 Million | +31.87% |
| 1999-03-31 | $108.45 Million | +30.60% |
| 1998-03-31 | $83.05 Million | +28.55% |
| 1997-03-31 | $64.60 Million | +21.22% |
| 1996-03-31 | $53.29 Million | +3.09% |
| 1995-03-31 | $51.69 Million | +75.37% |
| 1994-03-31 | $29.48 Million | +80.30% |
| 1993-03-31 | $16.35 Million | -7.30% |
| 1992-03-31 | $17.64 Million | -30.71% |
| 1991-03-31 | $25.45 Million | -16.58% |
| 1990-03-31 | $30.51 Million | +20.35% |
| 1989-03-31 | $25.35 Million | -- |
Equity Component Analysis
This analysis shows how different components contribute to Workspace Group plc's total equity over time. Equity components include common stock, retained earnings, additional paid-in capital, and other elements.
Equity Composition Insights
- Retained earnings have grown by 315485.3% over the analyzed period, indicating profitable operations and earnings retention.
Current Equity Component Breakdown (March 2025)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | $943.60 Million | 62.81% |
| Common Stock | $191.90 Million | 12.77% |
| Other Components | $366.70 Million | 24.41% |
| Total Equity | $1.50 Billion | 100.00% |
Workspace Group plc Competitors by Market Cap
The table below lists competitors of Workspace Group plc ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Sensirion Holding AG
SW:SENS
|
$776.75 Million |
|
SpartanNash Company
F:SRJ
|
$777.16 Million |
|
IntegraFin Holdings plc
PINK:IHPGF
|
$777.24 Million |
|
Renhe Pharmacy Co Ltd
SHE:000650
|
$777.45 Million |
|
Generation Development Group Ltd
AU:GDG
|
$776.64 Million |
|
EMPLOYERS HLDGS DL -01
F:YGB
|
$776.36 Million |
|
Lafarge Malayan Cement Bhd
KLSE:3794
|
$776.34 Million |
|
Paul Hartmann AG
F:PHH2
|
$776.29 Million |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in Workspace Group plc's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2024 to 2025, total equity changed from 1,548,900,000 to 1,502,200,000, a change of -46,700,000 (-3.0%).
- Net income of 5,400,000 contributed positively to equity growth.
- Dividend payments of 56,300,000 reduced retained earnings.
- Share repurchases of 400,000 reduced equity.
- Other comprehensive income decreased equity by 93,000,000.
- Other factors increased equity by 97,600,000.
Equity Change Factors (2024 to 2025)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | $5.40 Million | +0.36% |
| Dividends Paid | $56.30 Million | -3.75% |
| Share Repurchases | $400.00K | -0.03% |
| Other Comprehensive Income | $-93.00 Million | -6.19% |
| Other Changes | $97.60 Million | +6.5% |
| Total Change | $- | -3.02% |
Book Value vs Market Value Analysis
This analysis compares Workspace Group plc's book value (net assets) with its market value over time. The relationship between these values can provide insights into investor sentiment and company valuation.
Valuation Insights
- Current price-to-book ratio: 0.74x
- The company is trading below its book value, potentially indicating the market believes the assets are overvalued on the balance sheet or anticipates future losses.
- The price-to-book ratio has decreased from 2.88x to 0.74x over the analyzed period, indicating reduced market premium.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 1989-03-31 | $1.99 | $5.74 | x |
| 1990-03-31 | $2.40 | $5.74 | x |
| 1991-03-31 | $2.00 | $5.74 | x |
| 1992-03-31 | $1.39 | $5.74 | x |
| 1993-03-31 | $1.28 | $5.74 | x |
| 1994-03-31 | $3.05 | $5.74 | x |
| 1995-03-31 | $3.05 | $5.74 | x |
| 1996-03-31 | $2.32 | $5.74 | x |
| 1997-03-31 | $3.02 | $5.74 | x |
| 1998-03-31 | $3.80 | $5.74 | x |
| 1999-03-31 | $4.69 | $5.74 | x |
| 2000-03-31 | $6.21 | $5.74 | x |
| 2001-03-31 | $8.05 | $5.74 | x |
| 2002-03-31 | $9.42 | $5.74 | x |
| 2003-03-31 | $10.63 | $5.74 | x |
| 2004-03-31 | $12.69 | $5.74 | x |
| 2005-03-31 | $12.38 | $5.74 | x |
| 2006-03-31 | $16.56 | $5.74 | x |
| 2007-03-31 | $7.28 | $5.74 | x |
| 2008-03-31 | $6.71 | $5.74 | x |
| 2009-03-31 | $3.15 | $5.74 | x |
| 2010-03-31 | $2.55 | $5.74 | x |
| 2011-03-31 | $2.75 | $5.74 | x |
| 2012-03-31 | $3.15 | $5.74 | x |
| 2013-03-31 | $3.41 | $5.74 | x |
| 2014-03-31 | $4.91 | $5.74 | x |
| 2015-03-31 | $7.43 | $5.74 | x |
| 2016-03-31 | $9.26 | $5.74 | x |
| 2017-03-31 | $9.52 | $5.74 | x |
| 2018-03-31 | $10.39 | $5.74 | x |
| 2019-03-31 | $11.11 | $5.74 | x |
| 2020-03-31 | $11.01 | $5.74 | x |
| 2021-03-31 | $9.51 | $5.74 | x |
| 2022-03-31 | $9.89 | $5.74 | x |
| 2023-03-31 | $9.39 | $5.74 | x |
| 2024-03-31 | $8.08 | $5.74 | x |
| 2025-03-31 | $7.75 | $5.74 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Workspace Group plc utilizes its equity to generate returns, including Return on Equity (ROE) and its components based on the DuPont analysis framework.
Capital Efficiency Insights
- Current Return on Equity (ROE): 0.36%
- The company may be facing challenges in efficiently utilizing shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 2.92%
- • Asset Turnover: 0.07x
- • Equity Multiplier: 1.64x
- Recent ROE (0.36%) is below the historical average (4.02%), suggesting potential challenges in capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 1989 | 2.28% | 19.52% | 0.07x | 1.68x | $-1.96 Million |
| 1990 | 3.74% | 28.47% | 0.07x | 1.86x | $-1.91 Million |
| 1991 | 4.20% | 24.43% | 0.08x | 2.15x | $-1.48 Million |
| 1992 | 2.89% | 11.75% | 0.09x | 2.64x | $-1.25 Million |
| 1993 | 4.52% | 12.69% | 0.13x | 2.76x | $-895.90K |
| 1994 | 2.55% | 10.94% | 0.12x | 2.02x | $-2.20 Million |
| 1995 | 4.40% | 23.12% | 0.11x | 1.66x | $-2.90 Million |
| 1996 | 6.18% | 23.49% | 0.13x | 2.01x | $-2.04 Million |
| 1997 | 5.92% | 22.30% | 0.13x | 2.02x | $-2.64 Million |
| 1998 | 5.88% | 23.01% | 0.12x | 2.06x | $-3.42 Million |
| 1999 | 6.03% | 28.74% | 0.12x | 1.78x | $-4.31 Million |
| 2000 | 4.56% | 22.25% | 0.09x | 2.26x | $-7.78 Million |
| 2001 | 7.05% | 36.68% | 0.10x | 2.02x | $-5.56 Million |
| 2002 | 4.05% | 22.93% | 0.09x | 1.95x | $-13.17 Million |
| 2003 | 4.19% | 23.06% | 0.09x | 2.13x | $-14.39 Million |
| 2004 | 3.56% | 20.63% | 0.08x | 2.16x | $-19.03 Million |
| 2005 | 20.28% | 106.36% | 0.08x | 2.52x | $29.65 Million |
| 2006 | 27.31% | 168.67% | 0.06x | 2.50x | $67.57 Million |
| 2007 | 33.20% | 322.87% | 0.06x | 1.78x | $135.14 Million |
| 2008 | -6.46% | -51.87% | 0.06x | 1.92x | $-88.38 Million |
| 2009 | -143.07% | -516.33% | 0.10x | 2.70x | $-385.59 Million |
| 2010 | 8.42% | 36.39% | 0.09x | 2.54x | $-4.53 Million |
| 2011 | 16.03% | 77.76% | 0.09x | 2.22x | $20.12 Million |
| 2012 | 11.25% | 72.81% | 0.08x | 1.87x | $5.46 Million |
| 2013 | 15.27% | 109.93% | 0.08x | 1.76x | $26.36 Million |
| 2014 | 33.25% | 306.73% | 0.07x | 1.54x | $168.79 Million |
| 2015 | 30.61% | 381.41% | 0.06x | 1.32x | $236.27 Million |
| 2016 | 25.63% | 368.98% | 0.06x | 1.24x | $237.14 Million |
| 2017 | 5.62% | 81.45% | 0.06x | 1.20x | $-69.15 Million |
| 2018 | 10.01% | 132.97% | 0.06x | 1.37x | $110.00K |
| 2019 | 6.93% | 91.90% | 0.06x | 1.35x | $-60.90 Million |
| 2020 | 3.61% | 44.67% | 0.06x | 1.37x | $-127.70 Million |
| 2021 | -13.71% | -165.64% | 0.05x | 1.51x | $-407.65 Million |
| 2022 | 6.88% | 93.23% | 0.05x | 1.40x | $-56.06 Million |
| 2023 | -2.11% | -21.70% | 0.06x | 1.59x | $-216.57 Million |
| 2024 | -12.43% | -104.45% | 0.07x | 1.63x | $-347.39 Million |
| 2025 | 0.36% | 2.92% | 0.07x | 1.64x | $-144.82 Million |
Industry Comparison
This section compares Workspace Group plc's net assets metrics with peer companies in the REIT - Office industry.
Industry Context
- Industry: REIT - Office
- Average net assets among peers: $1,287,555,700
- Average return on equity (ROE) among peers: 2.47%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Workspace Group plc (WKPPF) | $1.40 Billion | 2.28% | 0.68x | $776.67 Million |
| Allied Properties Real Estate Investment Trust (APYRF) | $215.70 Million | 3.58% | 1.33x | $973.59 Million |
| Alexandria Real Estate Equities Inc (ARE) | $1.58 Billion | 5.93% | 1.94x | $7.61 Billion |
| Brandywine Realty Trust (BDN) | $1.69 Billion | 2.03% | 1.41x | $496.31 Million |
| BTB Real Estate Investment Trust (BTBIF) | $248.95 Million | 11.32% | 2.06x | $199.14 Million |
| Boston Properties Inc (BXP) | $3.00 Billion | 14.79% | 1.81x | $7.87 Billion |
| COPT Defense Properties (CDP) | $1.68 Billion | 4.55% | 1.53x | $3.58 Billion |
| City Office (CIO) | $772.63 Million | -0.35% | 0.96x | $2.76 Million |
| CLS Holdings plc (CLIHF) | $929.20 Million | -26.88% | 1.33x | $263.93 Million |
| Creative Media & Community Trust Corporation (CMCT) | $42.90 Million | 0.00% | 0.01x | $114.98K |
| Cromwell Property Group (CMWCF) | $2.71 Billion | 9.71% | 0.86x | $445.64 Million |