M Winkworth PLC

WINK.L · Real Estate · Real Estate Services · Valued as of 2026-11-03 · Statements 2025-12-31

How Each Value Is Built

The screener's three formulas on the reported figures. Each card reads the same way: the value as a sum of numbered terms, each term's calculation opened under it, from the reported figures to the value. The list ranks companies by their plain average over the market cap.

What it is worth

EPV + Growth

40.50M USD

what the normal year's earnings are worth for ever, plus growth that pays

Profit

20.10M USD

15 years of cash the shareholders can take out, and the equity left at year 15

FCFF

19.29M USD

15 years of cash for shareholders and lenders, less what is owed

Average Intrinsic Value

26.63M USD

The plain average of EPV, Profit and FCFF

Against the price

Market Cap

32.83M USD

the price on the date above times the shares

Intrinsic Value ÷ Market Cap

0.81×

the ratio the screener ranks by

Margin of Safety

-23.3%

1 − Market Cap / Average Intrinsic Value

Projections, not exact values. Intrinsic Values are projected from each company's past reports. They show which stocks look cheap compared with the others, not exactly what a stock is worth.

Earnings power value plus growth: 40.50M USD
What the normal year's operating profit after tax is worth if it lasts for ever, plus what the new investment adds beyond its cost, less the net debt that comes before the shareholders (or plus the net cash).
①EPV (earnings power value)35.76M USD
+②Net Cash Today4.75M USD
+③Growth Value0 USD
=Value40.50M USD

EPV of the Operations (NOPAT over WACC)

35.76M USD

Net cash today

+4.75M USD

Growth Value

0 USD

Value

40.50M USD

①EPV (earnings power value)

35.76M USD

②Net Cash Today

4.75M USD

③Growth Value

0 USD

Market value

Market Cap32.83M USD

The price on the date above times the shares.

Value vs market

Margin of Safety+18.9%

1 minus the market cap as a share of the value.

Profit value: today's value of the shareholders' equity, from the cash it can pay them (FCFE): 20.10M USD
Fifteen years of free cash flow to equity (FCFE), each brought to today at the cost of equity, plus the equity at year 15 brought to today.
①Present Value of the 15 Years of FCFE15.25M USD
+②Equity at Year 15, Today4.85M USD
=Value20.10M USD
FCFE: the net income left for the shareholders once the business keeps what next year's growth needsEquity reinvestment: the part of the year's net income kept in the business to grow the next year; below zero, capital the business releases to the shareholdersPresent value of the FCFEColoured bars show the FCFE, grey bars the equity reinvestment. With a positive equity reinvestment the two stacked are the year's normalized income; with a negative one the grey is below zero, capital the business releases, and the normalized income is the FCFE plus that negative amount. Shaded, years 6 to 10: the growth rising to its long-run rate and the ROE on new investment falling to the cost of equity. Axes linear.

①Present Value of the 15 Years of FCFE

15.25M USD

②Equity at Year 15, Today

4.85M USD

Market value

Market Cap32.83M USD

The price on the date above times the shares.

Value vs market

Margin of Safety-63.3%

1 minus the market cap as a share of the value.

FCFF value: today's value of the shareholders' equity, from the cash the firm can pay its shareholders and lenders (FCFF): 19.29M USD
Fifteen years of free cash flow to the firm (FCFF), each brought to today at the WACC, plus the invested capital at year 15 brought to today, less the net debt today (or plus the net cash).
①Present Value of the 15 Years of FCFF12.13M USD
+②Invested Capital at Year 15, Today2.42M USD
+③Net Cash Today4.75M USD
=Value19.29M USD
FCFF: the NOPAT left for the shareholders and the lenders once the business reinvests what next year's growth needsReinvestment: the part of the year's NOPAT put back into the business to grow the next year; below zero, capital the business releasesPresent value of the FCFFColoured bars show the FCFF, grey bars the reinvestment. With a positive reinvestment the two stacked are the year's NOPAT; with a negative one the grey is below zero, capital the business releases, and the NOPAT is the FCFF plus that negative amount. Shaded, years 6 to 10: the growth rising to its long-run rate and the ROIC on new investment falling to the WACC. Axes linear.

①Present Value of the 15 Years of FCFF

12.13M USD

②Invested Capital at Year 15, Today

2.42M USD

③Net Cash Today

4.75M USD

Market value

Market Cap32.83M USD

The price on the date above times the shares.

Value vs market

Margin of Safety-70.2%

1 minus the market cap as a share of the value.

The Rates and the Capital the Values Read

The WACC and the cost of equity each value is discounted at, the book value and the net debt each starts from, and the seven quality metrics, from the same run.

WACC: 6.54%
Cost of Equity =Risk-Free Rate 4.50%+Beta 0.33×Market Risk Premium 6.00%= 6.48%

The yearly return the shareholders require for the risk they carry; it is the rate that brings their future cash to today.

Tax Rate for WACC =Tax Provision 661.90K USDPretax Income 2.84M USD= 23.29%

The tax the interest saves.

Interest Expense =EBIT 2.91M USD−Pretax Income 2.84M USD= 70.10K USD

The interest the company paid: EBIT is the profit before tax plus the interest.

Cost of Debt =Interest Expense 70.10K USDTotal Debt 516.31K USD×(1 − Tax Rate for WACC 23.29%)= 10.41%

What the lenders are paid a year after the tax the interest saves.

Debt Weight =Total Debt 516.31K USDMarket Cap + Total Debt 32.83M USD + 516.31K USD= 1.55%

The part of the capital the lenders put in, at market value.

WACC =Equity Weight 98.45%×Cost of Equity 6.48%+Debt Weight 1.55%×Cost of Debt 10.41%= 6.54%

Weighted average cost of capital: the yearly return the shareholders and the lenders together require, weighted by what each puts in; the rate that brings the firm's future cash to today.

Book value and net debt today
Both from the balance sheet of the newest quarter, 2025-12-31.

Total Assets 11.61M USD − Total Liabilities 2.47M USD = Book Value Today 9.14M USD

Total Debt 516.31K USD − Cash and Short-Term Investments 5.26M USD = Net Debt Today -4.75M USD

The book value is what Profit starts from and what stands when a projection is not made; the book value plus the net debt is what FCFF starts from; the net debt comes off Greenwald's and FCFF's values before the shareholders.

Quality metrics
Read beside the value, never a condition for it: every company is valued, and a filter in the list is the reader's choice.
MetricFrom
Share dilutionShares Today ÷ Shares Two Years Back − 10.0%at most 5%passes12,908,792 / 12,908,792
Accrual quality(Operating Cash Flow − Net Income) ÷ Total Assets6.2%at least -10.0%passes(2.92M USD − 2.20M USD) ÷ 11.61M USD
Price to bookMarket Cap ÷ Book Value Today3.59×at most 3×does not pass32.83M USD ÷ 9.14M USD
Operating marginOperating Income ÷ Revenue15.8%above 10.0%passes2.28M USD ÷ 14.47M USD
Revenue growthRevenue ÷ Revenue a Year Before − 16.7%above 10.0%does not pass14.47M USD / 13.56M USD
Net cash(Cash − Total Debt) ÷ Market Cap14.5%above -30%passes(5.26M USD − 516.31K USD) ÷ 32.83M USD
Operating efficiencyOperating Income ÷ Gross Profit18.6%above 25.0%does not pass2.28M USD ÷ 12.25M USD

Market Data

The provider's ratios and the analysts' consensus beside the argument; none of them enters a value.

Share price

190.19 GBp

Enterprise value

20.44M GBP

the provider's own figure

EV / EBITDA

10.64×

Price / book

3.78×

the provider's book

Price / earnings

15.83×

Return on equity

24.1%

the provider's figure, not this page's

Profit margin

15.6%

Revenue growth

-9.6%

Analyst target, mean

—

Analysts

—

opinions in the consensus

Financial Statements

The annual lines the screener holds, year by year, in USD at each period's rate; the figures this valuation read are in its calculation above.

USD2022202320242025
Income statement

Revenue

11.23M11.81M13.56M14.47M

Gross profit

9.31M9.80M11.47M12.25M

Operating income

2.98M2.35M2.87M2.28M

EBITDA

operating income before depreciation and amortisation

3.66M3.46M3.76M3.71M

Pretax income

2.98M2.74M2.97M2.84M

Net income

2.35M2.13M2.21M2.20M

Normalized income

net income without one-off items, as the data provider prints it; Profit's line when printed

2.35M1.55M2.21M1.89M

R&D

————
Balance sheet, year end

Total assets

10.74M11.86M11.58M11.61M

Total liabilities

2.98M3.39M2.96M2.47M

Shareholders' equity

the equity the parent's shareholders own, as printed, without minority interest; the book value the values read is total assets less total liabilities, in Book Value and Net Debt above

7.64M8.46M8.60M9.12M

Total debt

763.93K1.20M969.76K516.31K

Cash and equivalents

6.34M5.80M5.13M5.26M

Net PP&E

fixed assets after depreciation

803.75K1.25M1.04M699.65K

Working capital

current assets less current liabilities

5.37M5.46M5.14M4.77M
Cash flow

Operating cash flow

3.39M1.80M2.12M2.92M

Capital expenditure

paid out, so below zero

-171.37K-336.51K-286.41K-508.22K

Depreciation and amortisation

634.80K676.85K713.50K794.01K

Free cash flow

operating cash flow plus capital expenditure

3.22M1.46M1.83M2.41M