olivLaw · US equity research
WPP plc WPP
Services-Advertising Agencies · SIC 7311 · Vertical: Services-Advertising Agencies (SIC 7311)
WPP plc is a global advertising and marketing communications group operating in more than 100 countries with about 98655 employees. Its revenue fell to 13550 million pounds sterling in fiscal 2025 amid economic, geopolitical and AI-driven pressures, and in February 2026 it announced a plan to simplify its structure.
The AI analysis may be outdated: new filings came after its sources (see the «AI analysis» section).
At the close of 04 Nov 2026, WPP plc (WPP) stock was 28.40 USD (+3.42% on the day), with beta 0.86, 52-week range 15.11–28.40 USD.
Data as of · AI analysis dated · Source: SEC filings and closing prices, computed by olivLaw.
Price history
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Technical reading
- RSI (14)
- 68.3
- strong (55–70)
- Bollinger (20, 2)
- 24.83 – 28.17
- above the upper band · %B 1.07 · band width 12.6%
- SMA 50 / 200
- 25.79 / 20.61
- uptrend (price > SMA50 > SMA200)
- MACD (12, 26, 9)
- 0.55 / 0.41
- MACD above signal
Indicators describe past prices; on their own they do not predict direction. On our history the RSI ≤ 40 filter added no return (see the signals methodology).
Performance
| Company | S&P 500 | vs S&P 500 | Vertical median | |
|---|---|---|---|---|
| 1 month | +15.5% | −1.1% | +16.6 pp | — |
| 3 months | +37.8% | −0.5% | +38.2 pp | — |
| 6 months | +53.3% | +4.4% | +48.9 pp | — |
| Year to date | +26.4% | +12.3% | +14.1 pp | — |
| 1 year | +60.6% | +13.5% | +47.1 pp | −9.5% |
| 3 years | −38.5% | +76.4% | −114.9 pp | +3.1% |
| 5 years | −60.9% | +63.7% | −124.6 pp | — |
Price returns, dividends excluded.
Quarterly results
ESEF annual reports carry no quarters: the results are annual (below).
E/P over time
the price (USD) and the reports are in different currencies
E/P = trailing-12-month diluted EPS / price at quarter end. E/P is the inverse of P/E and stays defined when earnings are negative.
Fiscal years
| Fiscal year | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 13.0 bn | 13.2 bn | 12.0 bn | 12.8 bn | 14.4 bn | 14.8 bn | 14.7 bn | 13.6 bn |
| Revenue YoY | −0.8% | +1.4% | −9.3% | +6.7% | +12.7% | +2.9% | −0.7% | −8.1% |
| Net income | 824.6 m | 844.1 m | -3.0 bn | 637.7 m | 683.0 m | 110.0 m | 542.0 m | -215.0 m |
| Net income YoY | −58.0% | +2.4% | −451.3% | unavailable | +7.1% | −83.9% | +392.7% | −139.7% |
| Diluted EPS | 0.65 | 0.67 | -2.43 | 0.53 | 0.61 | 0.10 | 0.49 | -0.20 |
| Diluted EPS YoY | −57.5% | +2.9% | −461.1% | unavailable | +16.6% | −83.5% | +389.1% | −140.5% |
| net % | 6.3% | 6.4% | -24.7% | 5.0% | 4.7% | 0.7% | 3.7% | -1.6% |
| Free cash flow | 1.4 bn | 1.5 bn | 1.8 bn | 1.8 bn | 492.0 m | 1.1 bn | 1.2 bn | 633.0 m |
Reported results vs expectations
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Balance sheet & financial health
Fiscal year 2025 · 31 Dec 2025
- Cash
- 2.7 bn GBP
- Financial debt
- 4.9 bn GBP
- Net debt
- 2.2 bn GBP
- Equity
- 2.8 bn GBP
- Total assets
- unavailable GBP
- Debt / equity
- 1.78x
- Current ratio
- 0.89x
- ROE
- -6.6%
- ROA
- unavailable
- FCF margin
- 4.7%
Financial statements (source on every figure)
Revenue and net income (GBP)
Margins
Income statement · GBP
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Revenue | 12.0 bn | 12.8 bn | 14.4 bn | 14.8 bn | 14.7 bn | 13.6 bn | SEC (XBRL)· 19 Mar 2026verified |
| Cost of revenue | 10.0 bn | 10.6 bn | 11.9 bn | 12.3 bn | 12.3 bn | 11.4 bn | SEC (XBRL)· 19 Mar 2026verified |
| Gross profit | 2.0 bn | 2.2 bn | 2.5 bn | 2.5 bn | 2.5 bn | 2.1 bn | SEC (XBRL)· 19 Mar 2026verified |
| Operating income | -2.3 bn | 1.2 bn | 1.4 bn | 531.0 m | 1.3 bn | 382.0 m | SEC (XBRL)· 19 Mar 2026verified |
| Depreciation & amortisation | 541.9 m | 444.0 m | 451.0 m | 446.7 m | — | — | SEC (XBRL)· 21 Mar 2024verified |
| EBITDA | -1.7 bn ≈ | 1.7 bn ≈ | 1.8 bn ≈ | 977.7 m ≈ | — | — | SEC (XBRL)· 21 Mar 2024derived |
| Interest expense | 312.0 m | 283.6 m | 359.0 m | 389.0 m | 417.0 m | 352.0 m | SEC (XBRL)· 19 Mar 2026verified |
| Pre-tax income | -2.8 bn | 950.8 m | 1.2 bn | 346.0 m | 1.0 bn | 131.0 m | SEC (XBRL)· 19 Mar 2026verified |
| Income tax | 127.1 m | 230.1 m | 385.0 m | 149.0 m | 402.0 m | 303.0 m | SEC (XBRL)· 19 Mar 2026verified |
| Net income | -3.0 bn | 637.7 m | 683.0 m | 110.0 m | 542.0 m | -215.0 m | SEC (XBRL)· 19 Mar 2026verified |
| Diluted EPS | -2.43 | 0.53 | 0.61 | 0.10 | 0.49 | -0.20 | SEC (XBRL)· 19 Mar 2026verified |
| Weighted average diluted shares | 1.2 bn | 1.2 bn | 1.1 bn | 1.1 bn | 1.1 bn | 1.1 bn | SEC (XBRL)· 19 Mar 2026verified |
≈ computed by olivLaw from the reported lines of the same year: Operating income + Depreciation & amortisation.
Balance sheet · GBP
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Cash | 12.9 bn | 3.9 bn | 2.5 bn | 2.2 bn | 2.6 bn | 2.7 bn | SEC (XBRL)· 19 Mar 2026verified |
| Receivables | 11.0 bn | 11.4 bn | 9.0 bn | 8.5 bn | 7.7 bn | 7.3 bn | SEC (XBRL)· 19 Mar 2026verified |
| Current assets | 24.0 bn | 15.3 bn | 15.1 bn | 13.9 bn | 13.7 bn | 13.2 bn | SEC (XBRL)· 19 Mar 2026verified |
| Property, plant & equipment, net | 790.9 m | 896.4 m | 1.0 bn | 828.0 m | 909.0 m | 724.0 m | SEC (XBRL)· 19 Mar 2026verified |
| Goodwill | 7.4 bn | 7.6 bn | 8.5 bn | 8.4 bn | 7.6 bn | 6.9 bn | SEC (XBRL)· 19 Mar 2026verified |
| Intangibles (excl. goodwill) | 1.4 bn | 1.4 bn | 1.5 bn | 850.0 m | 737.0 m | 734.0 m | SEC (XBRL)· 19 Mar 2026verified |
| Accounts payable | 13.9 bn | 15.3 bn | 14.2 bn | 13.3 bn | 14.2 bn | 13.4 bn | SEC (XBRL)· 19 Mar 2026verified |
| Short-term debt | 8.6 bn | 567.2 m | 1.2 bn | 946.0 m | 584.0 m | 822.0 m | SEC (XBRL)· 19 Mar 2026verified |
| Long-term debt | 5.0 bn | 4.2 bn | 3.8 bn | 3.8 bn | 3.7 bn | 4.1 bn | SEC (XBRL)· 19 Mar 2026verified |
| Current liabilities | 23.2 bn | 16.5 bn | 17.7 bn | 16.3 bn | 15.5 bn | 14.8 bn | SEC (XBRL)· 19 Mar 2026verified |
| Equity | 5.1 bn | 4.1 bn | 4.2 bn | 3.8 bn | 3.7 bn | 2.8 bn | SEC (XBRL)· 19 Mar 2026verified |
| Shares outstanding at year end | 1.2 bn | 1.2 bn | 1.1 bn | 1.1 bn | 1.1 bn | 1.1 bn | SEC (XBRL)· 19 Mar 2026verified |
Cash flow · GBP
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Operating cash flow | 2.1 bn | 2.0 bn | 701.0 m | 1.2 bn | 1.4 bn | 724.0 m | SEC (XBRL)· 19 Mar 2026verified |
| Capex | 218.3 m | 263.2 m | 209.0 m | 177.0 m | 189.0 m | 91.0 m | SEC (XBRL)· 19 Mar 2026verified |
| Free cash flow | 1.8 bn ≈ | 1.8 bn ≈ | 492.0 m ≈ | 1.1 bn ≈ | 1.2 bn ≈ | 633.0 m ≈ | SEC (XBRL)· 19 Mar 2026derived |
| Investing cash flow | -163.4 m | -638.4 m | -409.0 m | -380.0 m | 278.0 m | -347.0 m | SEC (XBRL)· 19 Mar 2026verified |
| Financing cash flow | -250.5 m | -2.1 bn | -1.9 bn | -904.0 m | -989.0 m | -319.0 m | SEC (XBRL)· 19 Mar 2026verified |
| Share repurchases | 290.2 m | 818.5 m | 862.0 m | 54.0 m | 82.0 m | 97.0 m | SEC (XBRL)· 19 Mar 2026verified |
≈ computed by olivLaw from the reported lines of the same year: Operating cash flow − Capex.
Computed indicators
Growth
Profitability
Returns
Balance sheet
Liquidity
Cash
Efficiency
Market and valuation
1 indicators that do not apply to the sector.
Valuation
olivLaw classification
- indicators available: 5 of at least 6
- score weight coverage: 35.4% of at least 60%
- valuation methods computed: 0 of at least 1
A scoring methodology on indicators and valuation, not investment advice.
Closing price
04 Nov 2026Source: olivLaw, closing series
Market cap: unavailable
Price and reporting are in different currencies; market indicators are unavailable.
Key indicators
Coverage and freshness
Score by group
35% · Insufficient data
Estimated value range
unavailable — no valuation assumptions for the reporting currency
Valuation assumptions are editorial choices, not measured; beta is not measured.
Valuation methods
Classification (SIC) comparables group by industry code, not by economic activity; the direct group is an editorial selection by activity. Members' multiples are on their own trailing twelve months, at their own latest close.
Assumptions (illustrative, editorial)
- Risk-free rate
- 6.5%
- Equity risk premium
- 6.0%
- Beta (default)
- 1.00
- Cost of equity
- 12.5%
- Terminal growth
- 3.0%
Factor scorecard
Insufficient data
Minimum-evidence gate: indicators available: 5 of at least 6; score weight coverage: 35.4% of at least 60%; valuation methods computed: 0 of at least 1
| Factor | Value | Score | Weight used |
|---|---|---|---|
| ROIC · Quality | 6.1% | 32 (on a fixed band) | 29% |
| Net margin · Quality | -1.6% | 50 (vs peers) | 18% |
| FCF conversion · Quality | unavailable | unavailable | — |
| Revenue CAGR 3Y · Growth | -2.1% | 0 (on a fixed band) | 24% |
| EPS CAGR 3Y · Growth | unavailable | unavailable | — |
| Net debt / EBITDA · Balance sheet | unavailable | unavailable | — |
| Interest coverage · Balance sheet | 1.1x | 0 (on a fixed band) | 18% |
| Current ratio · Balance sheet | 0.9x | 7 (on a fixed band) | 12% |
| P/E (TTM) · Valuation | unavailable | unavailable | — |
| EV/EBITDA · Valuation | unavailable | unavailable | — |
| FCF yield · Valuation | unavailable | unavailable | — |
| Shareholder yield (distributions) · Returns | unavailable | unavailable | — |
| Payout ratio (FCF) · Returns | unavailable | unavailable | — |
Factors without a value were dropped; the remaining weights were renormalised.
Score groups
- Balance sheet3/100 · 2/3 factors with a value
- Growth· partial0/100 · 1/2 factors with a value
- Quality39/100 · 2/3 factors with a value
- Returns· partialunavailable · 0/2 factors with a value
- Valuation· partialunavailable · 0/3 factors with a value
A «partial» group is computed from under half of its weight or from one factor: it is not a full assessment of the group.
Memo
WPP plc (WPP). Latest full fiscal year: 2025; data up to 2025-12-31.
Figures computed from the financial statements: revenue 13.6 bn GBP in 2025; YoY growth -8.1%; net margin -1.6%; ROE -7.1%.
Valuation cannot be computed from the available data.
Insufficient data for a verdict (indicators available: 5 of at least 6; score weight coverage: 35.4% of at least 60%; valuation methods computed: 0 of at least 1).
Text generated deterministically from the figures shown; no language model. Not investment advice.
What supports the thesis
No signal among the computed factors. That is not an absence of risk: factors without data were not assessed, and business risks (margins, inventory, demand) are in the source-based analysis.
What contradicts it
- Revenue CAGR 3Y: -2.1%
- Interest coverage: 1.1x
- Current ratio: 0.9x
Not assessed (insufficient data or a ratio without meaning): FCF conversion, EPS CAGR 3Y, Net debt / EBITDA, P/E (TTM), EV/EBITDA, FCF yield, Shareholder yield (distributions), Payout ratio (FCF).
Versus the vertical median
Services-Advertising Agencies (SIC 7311) · same industry (4-digit SIC) · compared with 8 companies
Multiples and returns vs the median
Price rebased to 100 (monthly, 5 years)
Companies in the vertical
| Market cap | P/E | ROE | Net margin | Revenue YoY | 1A / 3A | |
|---|---|---|---|---|---|---|
| OMCOmnicom Group Inc. | 23.9 bn | 50.9 | 9.7% | 2.8% | +10.1% | +22% / +9% |
| STGWStagwell Inc | 2.7 bn | 281.5 | 1.3% | 0.3% | +2.4% | +105% / +119% |
| CRTOCriteo S.A. | 769.7 m | 11.4 | 6.3% | 4.0% | +0.6% | −21% / −37% |
| GRPNGroupon, Inc. | 703.9 m | — | — | -25.3% | +1.2% | +2% / +53% |
| TJGCTJGC Group Limited | 487.9 m | — | -130.2% | -81.8% | −6.5% | +969% / unavailable |
| VSMEVS MEDIA Holdings Ltd | 36.9 m | — | -317.9% | -114.5% | −8.8% | −95% / −99% |
| SWAGStran & Company, Inc. | 24.4 m | 396.0 | 0.2% | 0.0% | +40.6% | −35% / −2% |
| WPPWPP plc | — | — | -7.1% | -1.6% | −8.1% | +61% / −38% |
| HAOHaoxi Health Technology Limited | — | — | -54.1% | -17.4% | +67.1% | −100% / unavailable |
1- and 3-year price returns: for WPP from daily closes (the same as the performance table), for the other companies from month-end closes.
olivLaw engine forecast
The world engine ran after the company's latest material disclosure. Probabilities are of TOUCHING a level within the horizon (not closing there) and sit next to the random walk (p_rw), the no-information benchmark.
The engine has no published run for this company yet.
Valuation scenarios (editable assumptions)
Illustrative scenarios
Scenarios are not available. input data missing
AI analysis
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
Possibly outdated: the newest document it read is from 19 Mar 2026; since then the company filed 6-K (02 Nov 2026), 6-K (29 Oct 2026), 6-K (02 Oct 2026), 6-K (01 Oct 2026).
In brief
WPP plc is a global advertising and marketing communications group operating in more than 100 countries with about 98655 employees. Its revenue fell to 13550 million pounds sterling in fiscal 2025 amid economic, geopolitical and AI-driven pressures, and in February 2026 it announced a plan to simplify its structure 1.
SWOT
Strengths
- Global presence in more than 100 countries and a large network of specialist agencies 1.
- An integrated portfolio of media, data, creative, production and enterprise solutions that supports end-to-end services 1.
- The WPP Open platform and recent acquisitions such as InfoSum support its data and AI offering 1.
Weaknesses
Opportunities
Risks
- Execution of the strategic planhigh
If the simplification of structure and operating model is delayed, cost savings and planned growth could be affected 1.
- Client concentrationhigh
Losing one of the largest clients could seriously affect revenue and financial results 1.
- AI-related riskmedium
Delays in AI adoption or errors by automated agents could lead to lost market share and legal disputes 1.
- Cyber security and datamedium
A cyber attack or data breach could generate fines, client losses and reputational damage 1.
- Internal controls and reportinglow
Weaknesses in internal controls could affect the accuracy of reporting and investor confidence 1.
Investment thesis
What would need to be true (bull case)
What would break the thesis
What to watch
- Progress in implementing the strategic plan and cost savings2026
- Client concentration, especially the ten largest clients' share of sales2026
- Client adoption of the WPP Open platform and AI solutions2027
Products, market & competition
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
Possibly outdated: the newest document it read is from 19 Mar 2026; since then the company filed 6-K (02 Nov 2026), 6-K (29 Oct 2026), 6-K (02 Oct 2026), 6-K (01 Oct 2026).
The business
Segments
Global Integrated Agencies
This is the largest segment, accounting for 88% of revenue in fiscal 2025 1. It covers integrated advertising and marketing services for global clients.
Market context
Trends
- Artificial intelligencemixed
Clients expect agencies to use generative tools, and some can buy AI licences directly, which could reduce the role of intermediaries 1. The WPP Open agentic platform could become an advantage if adopted successfully 1.
- Geopolitical uncertaintyheadwind
Conflicts and geopolitical tensions could lead clients to delay or cut marketing budgets, affecting revenue 1.
- Structural simplificationtailwind
Reorganising into four operating units and the cost-savings programme could free resources for growth if executed well 1.
- Data and tax regulationheadwind
New tax rules, data privacy legislation and the EU AI Act could raise compliance costs and the risk of fines 1.
Competitive position
Competition is intensified as more traditional operators that have not diversified are challenged by AI-enabled newcomers 1. The company states that losing large clients would have a material adverse effect 1.
- Other multinational advertising and marketing communications groups
Direct competitors for the same global clients, named generically in the source 1.
- Marketing services companies
Competitors offering specialised marketing services, not named in the source 1.
- Professional services and consulting firms
Competitors active in strategy and digital transformation 1.
- New entrants using AI
Newer companies offering clients licences for content creation and personalisation at scale 1.
Links, dependencies and risks
Who the company is tied to, from its own SEC filings (customers, suppliers, production, partners, competitors, countries, regulation), from the 5 %+ holders' statements (13D/13G) and from what other companies say about it. Click a node for its evidence; on a listed company the graph moves to it.
Loading the links…
News & filings
In the press
No news in our archive over the last 180 days.
SEC filings
- Current report (foreign issuer)02 Nov 2026
- Current report (foreign issuer)02 Nov 2026
- Current report (foreign issuer)29 Oct 2026
- Current report (foreign issuer)02 Oct 2026
- Current report (foreign issuer)01 Oct 2026
- Current report (foreign issuer)01 Oct 2026
- Current report (foreign issuer)23 Sept 2026
- Current report (foreign issuer)02 Sept 2026
- Current report (foreign issuer)01 Sept 2026
- Current report (foreign issuer)07 Aug 2026
Sources
- [1] Form 20-F, fiscal year ended 2025-12-31 · SEC / WPP plc · 19 Mar 2026
Figures computed by olivLaw from SEC filings and closing prices; the qualitative analysis is AI-generated from cited sources. Not investment advice.