Financials WPP plc Nyse

Equities

WPP

US92937A1025

Advertising & Marketing

Real-time Estimate Cboe BZX Other stock markets 15:13:19 2024-05-16 EDT			5-day change	1st Jan Change
53.96 ^USD	+0.69%		+3.23%	+13.45%

05-10	WPP: share price rises, Deutsche Bank initiates buy decision	CF
05-10	Deutsche Bank Initiates WPP with Buy Rating	MT

Valuation

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Capitalization ¹	13,253	9,729	12,859	8,736	8,050	9,069	-	-
Enterprise Value (EV) ¹	14,793	10,424	13,760	11,216	8,050	11,520	11,157	10,740
P/E ratio	21.5 x	-3.3 x	21.3 x	13.4 x	74.6 x	12.8 x	10.4 x	9.3 x
Yield	2.13%	3%	2.79%	4.8%	-	4.53%	4.71%	4.88%
Capitalization / Revenue	1.22 x	1 x	1.24 x	0.74 x	0.68 x	0.77 x	0.75 x	0.73 x
EV / Revenue	1.36 x	1.07 x	1.32 x	0.95 x	0.68 x	0.97 x	0.92 x	0.86 x
EV / EBITDA	6.94 x	5.75 x	6.8 x	4.95 x	3.6 x	5.33 x	5.02 x	4.67 x
EV / FCF	9.79 x	5.68 x	7.91 x	22.8 x	-	11.8 x	9.79 x	8.67 x
FCF Yield	10.2%	17.6%	12.6%	4.39%	-	8.49%	10.2%	11.5%
Price to Book	1.65 x	2.02 x	3.79 x	2.54 x	-	2.52 x	2.23 x	1.99 x
Nbr of stocks (in thousands)	1,242,655	1,216,111	1,148,624	1,065,133	1,069,034	1,072,750	-	-
Reference price ²	10.66	8.000	11.20	8.202	7.530	8.454	8.454	8.454
Announcement Date	20-02-27	21-03-11	22-02-24	23-02-23	24-02-22	-	-	-

¹GBP in Million²GBP

Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net sales ¹	10,847	9,762	10,397	11,799	11,860	11,819	12,124	12,507
EBITDA ¹	2,131	1,812	2,024	2,267	2,233	2,162	2,223	2,298
EBIT ¹	1,623	1,271	1,580	1,816	1,786	1,754	1,871	1,953
Operating Margin	14.96%	13.02%	15.19%	15.39%	15.06%	14.84%	15.43%	15.61%
Earnings before Tax (EBT) ¹	982.1	-2,791	950.8	1,160	346	1,199	1,371	1,564
Net income ¹	624.1	-2,974	637.7	682.7	110.4	777.2	904.6	1,020
Net margin	5.75%	-30.46%	6.13%	5.79%	0.93%	6.58%	7.46%	8.16%
EPS ²	0.4950	-2.427	0.5250	0.6120	0.1010	0.6628	0.8100	0.9087
Free Cash Flow ¹	1,511	1,836	1,740	492.5	-	977.9	1,140	1,239
FCF margin	13.93%	18.81%	16.73%	4.17%	-	8.27%	9.4%	9.91%
FCF Conversion (EBITDA)	70.9%	101.32%	85.97%	21.73%	-	45.23%	51.27%	53.94%
FCF Conversion (Net income)	242.14%	-	272.81%	72.14%	-	125.81%	126.02%	121.46%
Dividend per Share ²	0.2270	0.2400	0.3120	0.3940	-	0.3830	0.3985	0.4122
Announcement Date	20-02-27	21-03-11	22-02-24	23-02-23	24-02-22	-	-	-

¹GBP in Million²GBP

Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December	2019 S2	2020 S1	2020 S2	2021 S1	2021 Q3	2021 Q4	2021 S2	2022 Q1	2022 Q2	2022 S1	2022 Q3	2022 Q4	2022 S2	2023 Q1	2023 Q2	2023 S1	2023 Q3	2023 Q4	2023 S2	2024 Q1	2024 Q2	2024 S1	2024 Q3	2024 Q4	2024 S2
Net sales ¹	4,698	5,583	4,179	6,133	2,640	2,858	5,498	2,574	2,935	6,755	2,986	3,304	6,290	2,829	4,392	7,221	2,837	1,802	4,639	2,687	2,934	5,643	2,854	3,304	6,138
EBITDA	1,088	479.6	1,178	838.6	-	-	1,185	-	-	874.8	-	-	1,392	-	-	895.9	-	-	1,337	-	-	791.5	-	-	1,450
EBIT	872.2	381.8	888.8	590	-	-	960.9	-	-	639.1	-	-	-	-	-	666.3	-	-	-	-	-	-	-	-	-
Operating Margin	18.57%	6.84%	21.27%	9.62%	-	-	17.48%	-	-	9.46%	-	-	-	-	-	9.23%	-	-	-	-	-	-	-	-	-
Earnings before Tax (EBT)	503.9	-2,571	-209.6	394.4	-	-	556.4	-	-	418.6	-	-	741.2	-	-	204.3	-	-	141.7	-	-	186.5	-	-	755.4
Net income	311.7	-2,633	-340.5	252.7	-	-	385	-	-	257.9	-	-	424.8	-	-	112	-	-	-	-	-	136.1	-	-	551.4
Net margin	6.63%	-47.17%	-8.15%	4.12%	-	-	7%	-	-	3.82%	-	-	6.75%	-	-	1.55%	-	-	-	-	-	2.41%	-	-	8.98%
EPS	0.2470	-2.150	-0.2770	0.2060	-	-	0.1790	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Dividend per Share	-	0.1000	0.1400	0.1250	-	-	0.1870	-	-	0.1500	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Announcement Date	20-02-27	20-08-27	21-03-11	21-08-05	21-11-24	22-02-24	22-02-24	22-04-27	22-08-05	22-08-05	22-10-26	23-02-23	23-02-23	23-04-27	23-08-04	23-08-04	23-10-26	24-02-22	24-02-22	24-04-25	-	-	-	-	-

¹GBP in Million

Estimates

Balance Sheet Analysis

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net Debt ¹	1,540	696	901	2,479	-	2,451	2,088	1,671
Net Cash position ¹	-	-	-	-	-	-	-	-
Leverage (Debt/EBITDA)	0.7223 x	0.3838 x	0.4453 x	1.094 x	-	1.134 x	0.9393 x	0.7272 x
Free Cash Flow ¹	1,511	1,837	1,740	493	-	978	1,140	1,239
ROE (net income / shareholders' equity)	11.3%	11.5%	22.9%	30.1%	-	24.5%	23.5%	22.1%
ROA (Net income/ Total Assets)	3.02%	1.95%	2.98%	3.88%	-	2.76%	3.28%	3.55%
Assets ¹	20,671	-152,503	21,392	17,593	-	28,191	27,575	28,725
Book Value Per Share ²	6.460	3.960	2.950	3.220	-	3.350	3.790	4.240
Cash Flow per Share ²	1.470	1.680	1.670	0.6300	-	1.040	1.210	1.290
Capex ¹	339	218	263	208	-	280	272	268
Capex / Sales	3.13%	2.24%	2.53%	1.77%	-	2.37%	2.24%	2.15%
Announcement Date	20-02-27	21-03-11	22-02-24	23-02-23	24-02-22	-	-	-

¹GBP in Million²GBP

Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Ratings for WPP plc

Trading Rating

Investor Rating

ESG Refinitiv

More Ratings

Analysts' Consensus

Sell

Buy

Mean consensus

HOLD

Number of Analysts

Last Close Price

8.454 GBP

Average target price

8.839 GBP

Spread / Average Target

+4.55%

Consensus

EPS Revisions

Estimates Revisions

Quarterly revenue - Rate of surprise

Company calendar

Sector Other Advertising & Marketing

	1st Jan change	Capi.
PUBLICIS GROUPE SA	+27.26%	28.52B
OMNICOM GROUP., INC.	+11.80%	19.13B
FOCUS MEDIA INFORMATION TECHNOLOGY CO., LTD.	+6.80%	13.8B
THE INTERPUBLIC GROUP OF COMPANIES, INC.	-2.90%	11.99B
JCDECAUX SE	+15.60%	4.94B
AUTOHOME INC.	+4.67%	3.52B
PEOPLE.CN CO., LTD	-18.16%	3.51B
HAKUHODO DY HOLDINGS INC	+34.47%	3.43B
CYBERAGENT, INC.	+21.62%	3.32B

Other Advertising & Marketing