WPP plc is a US-listed company in the advertising industry. Its financial year ends in December.
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Under review: our cash-flow value ($65.78) was left out of our combined valuation (it is more than 3x away from the median of our other models), so it can't be the basis of a rating.
Under review: our cash-flow value ($65.78) was left out of our combined valuation (it is more than 3x away from the median of our other models), so it can't be the basis of a rating. We'll show the comparison once resolved.
What company insiders, investment funds and members of Congress have been doing with the stock, from their own filings.
Revenue for the twelve months was $17.9bn, down 5.1% on a year earlier, against growth of 2.0% a quarter earlier. Free-cash-flow margin fell to 4.7% from 13.8% a year earlier. Operating margin narrowed to 2.8% from 9.6%. Against its peers on growth, profitability, cash generation and balance sheet, it grades C+.
Our model value for WPP is under review, so past values are not shown until it is resolved.
Written from the company's filings and our models when each quarter's report arrives. Figures in older notes are as published at the time. Not investment advice.
WPP plc's trailing-twelve-month revenue fell 5.1% year on year, with a free-cash-flow margin of 4.7%. Where it stands out: change in share count of -1.9% ranks 4 of 24 advertising companies we cover. Where it lags: days sales outstanding of 200 days ranks 21 of 25 advertising companies we cover.
Our discounted-cash-flow model values the business at ~$66 per share in the base case (~$38–$100 across growth scenarios) — model values under stated assumptions, not a price target.
Current signal Revenue growth decelerating: TTM revenue growth slowed to -5.1% (-7.2pp vs the prior quarter), the 2nd consecutive quarterly slowdown.
Assembled from SEC-filed figures — the full workings are on this page and in our methodology. Observations, not recommendations.
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Third-party market data · may be delayed
Company announcements, filed results and changes that matter to shareholders.
No recent updates are available for WPP from the sources we follow. See filings →
Our value per share comes from a discounted-cash-flow model of WPP plc's free cash flow after stock-based pay ( $1.4B, FY2025 Q4 TTM, with after-tax interest added back): growth for five years as below (the first two years from forecasts, guidance and the company's record), fading to 2.5%, discounted at 8.5%, then cash added and debt and other claims subtracted. These are model values under stated assumptions, not price targets or recommendations.
The inputs used by the models below have passed source checks. Individual model values are available below and in the interactive valuator. Their differences are shown explicitly; the platform combined value and recommendation remain withheld.
We value WPP plc as an operating company, with every model that fits that kind of business. Cost of equity 9.9%: the 10-year Treasury yield (4.9%) plus a beta of 1.09 times a 4.5% equity risk premium.
| Model | Value per share | In the combined value? |
|---|---|---|
| Cash-flow model (DCF) Free cash flow to the firm (after stock pay, with after-tax interest added back), grown then faded to 2.5%, discounted at 8.5% as the firm rate, less debt and other claims. | ~$66 ~$38–$100 | Left out: far from the other models (more than 3x away from their median) |
| Price-to-earnings vs peers Earnings per share times peers' typical (harmonic-mean) price-to-earnings. | — | Does not apply: This model is withheld pending its input or assumption review. |
| Residual income Book value plus the present value of returns above the cost of equity, fading over ten years. | ~$14 ~$9.6–$22 | Included |
| Justified price-to-book Book value times (return on equity - growth) / (cost of equity - growth): steady-state returns. | ~$14 ~$12–$16 | Included |
| Combined value Individual source-checked model scenarios are available. The platform combined value and recommendation remain withheld. | — | Combined value withheld. Review the individual models and their assumptions. |
Different models fail in different ways, so where several apply we average them rather than trust one. Peer-based models compare WPP plc with Advertising in our coverage, using third-party market data. Model values are estimates under stated assumptions, updated as new filings arrive; not price targets or investment advice. How each model works.
Not assessed: fewer than five years of comparable figures in the filings. AI disruption exposure for this industry: High.
No analyst estimates are published for WPP plc: too few analysts cover it.
Source: SEC EDGAR filings. Retrieved November 1, 2026.
| Period | Revenue (TTM) |
|---|---|
| FY15 Q4 | $18.7B |
| FY16 Q4 | $20.2B |
| FY17 Q4 | $16.9B |
| FY18 Q4 | $17.4B |
| FY19 Q4 | $16.9B |
| FY20 Q4 | $15.4B |
| FY21 Q4 | $17.6B |
| FY22 Q4 | $17.9B |
| FY23 Q4 | $18.5B |
| FY24 Q4 | $18.8B |
| FY25 Q4 | $17.9B |
Source: SEC EDGAR filings. Retrieved November 1, 2026.
| Period | Revenue growth, TTM YoY |
|---|---|
| FY16 Q4 | 7.9% |
| FY17 Q4 | -16.0% |
| FY18 Q4 | 2.9% |
| FY19 Q4 | -3.1% |
| FY20 Q4 | -8.9% |
| FY21 Q4 | 14.4% |
| FY22 Q4 | 1.3% |
| FY23 Q4 | 3.5% |
| FY24 Q4 | 2.0% |
| FY25 Q4 | -5.1% |
Source: SEC EDGAR filings. Retrieved November 1, 2026.
| Period | Operating margin (TTM) |
|---|---|
| FY15 Q4 | 13.3% |
| FY16 Q4 | 13.9% |
| FY17 Q4 | 12.0% |
| FY18 Q4 | 9.5% |
| FY19 Q4 | 9.8% |
| FY20 Q4 | -19.0% |
| FY21 Q4 | 9.6% |
| FY22 Q4 | 9.4% |
| FY23 Q4 | 3.6% |
| FY24 Q4 | 9.0% |
| FY25 Q4 | 2.8% |
Source: SEC EDGAR filings. Retrieved November 1, 2026.
| Period | FCF margin (TTM) |
|---|---|
| FY15 Q4 | 9.4% |
| FY16 Q4 | 10.2% |
| FY17 Q4 | 8.5% |
| FY18 Q4 | 10.6% |
| FY19 Q4 | 11.4% |
| FY20 Q4 | 15.3% |
| FY21 Q4 | 13.8% |
| FY22 Q4 | 3.4% |
| FY23 Q4 | 7.1% |
| FY24 Q4 | 8.3% |
| FY25 Q4 | 4.7% |
| Fiscal year | 2015 Dec 2015 | 2016 Dec 2016 | 2017 Dec 2017 | 2018 Dec 2018 | 2019 Dec 2019 | 2020 Dec 2020 | 2021 Dec 2021 | 2022 Dec 2022 | 2023 Dec 2023 | 2024 Dec 2024 | 2025 Dec 2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Income | |||||||||||
| Revenue | 18.7 | 20.2 | 16.9 | 17.4 | 16.9 | 15.4 | 17.6 | 17.9 | 18.5 | 18.8 | 17.9 |
| Gross profit | 3.9 | 4.1 | 3.4 | 3.3 | 3.1 | 2.6 | 3.0 | 3.1 | 3.1 | 3.1 | 2.8 |
| EBITDA | 2.8 | 3.1 | 2.3 | 1.9 | 2.3 | −2.2 | 2.3 | 2.2 | 1.2 | — | — |
| Operating income | 2.5 | 2.8 | 2.0 | 1.7 | 1.7 | −2.9 | 1.7 | 1.7 | 0.7 | 1.7 | 0.5 |
| Net income | 1.8 | 1.9 | 2.5 | 1.1 | 1.1 | −3.8 | 0.9 | 0.8 | 0.1 | 0.7 | −0.3 |
| Diluted EPS | $6.76 | $7.32 | $9.92 | $4.37 | $4.30 | −$15.59 | $3.61 | $3.79 | $0.63 | $3.16 | −$1.32 |
| Growth (year on year) | |||||||||||
| Revenue | — | +7.9% | −16.0% | +2.9% | −3.1% | −8.9% | +14.4% | +1.3% | +3.5% | +2.0% | −5.1% |
| EBITDA | — | +10.7% | −26.8% | −15.6% | +18.5% | −196.7% | — | −2.8% | −45.7% | — | — |
| Operating income | — | +12.1% | −27.3% | −18.2% | −0.6% | −276.6% | — | −0.7% | −60.7% | +156.4% | −70.2% |
| Net income | — | +7.0% | +33.4% | −56.5% | −2.2% | −452.9% | — | −3.7% | −83.8% | — | −140.9% |
| Diluted EPS | — | +8.4% | +35.5% | −55.9% | −1.7% | −462.8% | — | +4.8% | −83.4% | — | −141.8% |
| Margins | |||||||||||
| Gross margin | 20.6% | 20.4% | 20.3% | 19.1% | 18.2% | 16.8% | 17.2% | 17.6% | 17.0% | 16.6% | 15.8% |
| EBITDA margin | 15.2% | 15.6% | 13.6% | 11.1% | 13.6% | −14.5% | 13.1% | 12.5% | 6.6% | — | — |
| Operating margin | 13.3% | 13.9% | 12.0% | 9.5% | 9.8% | −19.0% | 9.6% | 9.4% | 3.6% | 9.0% | 2.8% |
| Net margin | 9.5% | 9.4% | 14.9% | 6.3% | 6.4% | −24.7% | 5.0% | 4.7% | 0.7% | 3.7% | −1.6% |
| Free-cash-flow margin | 9.4% | 10.2% | 8.5% | 10.6% | 11.4% | 15.3% | 13.8% | 3.4% | 7.1% | 8.3% | 4.7% |
| Cash flow | |||||||||||
| Cash from operations | 2.1 | 2.4 | 1.8 | 2.3 | 2.4 | 2.6 | 2.8 | 0.9 | 1.5 | 1.8 | 1.0 |
| Capital spending | 0.3 | 0.3 | 0.4 | 0.4 | 0.4 | 0.3 | 0.4 | 0.3 | 0.2 | 0.2 | 0.1 |
| Free cash flow | 1.8 | 2.1 | 1.4 | 1.8 | 1.9 | 2.4 | 2.4 | 0.6 | 1.3 | 1.6 | 0.8 |
| Stock-based pay | 0.2 | 0.1 | 0.1 | 0.1 | 0.1 | 0.1 | 0.1 | 0.2 | 0.2 | 0.1 | 0.1 |
| Free cash flow after stock pay | 1.6 | 1.9 | 1.3 | 1.7 | 1.8 | 2.3 | 2.3 | 0.5 | 1.1 | 1.4 | 0.7 |
| Balance sheet | |||||||||||
| Cash | — | 2.3 | 2.7 | 2.8 | 15.0 | 17.6 | 5.2 | 3.0 | 2.8 | 3.3 | 3.6 |
| Total debt | — | 7.4 | 8.8 | 7.9 | 17.0 | 18.6 | 6.5 | 6.0 | 11.6 | 10.6 | 13.0 |
| Net debt (negative = net cash) | — | 5.1 | 6.1 | 5.1 | 2.0 | 1.0 | 1.2 | 3.0 | 8.7 | 7.3 | 9.4 |
| Diluted shares | 263m | 259m | 255m | 252m | 252m | 245m | 243m | 223m | 219m | 219m | 215m |
| Returned to shareholders | |||||||||||
| Buybacks | 0.9 | 0.6 | 0.6 | 0.3 | 0.1 | 0.4 | 1.1 | 1.1 | 0.1 | 0.1 | 0.1 |
| Total returned | 0.9 | 0.6 | 0.6 | 0.3 | 0.1 | 0.4 | 1.1 | 1.1 | 0.1 | 0.1 | 0.1 |
| Last 12 months unless stated | WPP | OMC | ADV | STGW | TBLA | TEAD | Median |
|---|---|---|---|---|---|---|---|
| Revenue, last 12 months | $17.9bn | $24.8bn | $3.6bn | $3.1bn | $2.0bn | $1.2bn | $202m |
| Revenue growth, last 12 months | −5.1% | 54.1% | 2.2% | 7.7% | 8.0% | 12.3% | −1.2% |
| Revenue growth, 3-year average | — | 19.5% | −0.5% | 6.5% | 12.9% | 9.0% | 7.7% |
| Revenue growth, latest quarter | — | 59.1% | 1.8% | 9.8% | 2.4% | −17.1% | 2.4% |
| Gross margin | 15.8% | 12.6% | — | 36.0% | 29.7% | 33.2% | 40.3% |
| Operating margin | 2.8% | 6.4% | −3.2% | 4.0% | 6.5% | −31.9% | −3.3% |
| Operating margin, 3-year average | 8.1% | 11.3% | −3.6% | 4.4% | 2.3% | −12.2% | −2.8% |
| Net margin | −1.6% | 2.8% | −7.6% | 0.3% | 6.1% | −43.3% | −2.3% |
| Cash from operations / revenue | 5.3% | 12.4% | 3.5% | 13.3% | 12.9% | −3.5% | 3.5% |
| Free-cash-flow margin | 4.7% | 11.6% | 3.2% | 11.8% | 10.2% | −3.7% | 3.9% |
| Free-cash-flow margin, 3-year average | 9.0% | 10.6% | 2.3% | 7.9% | 8.2% | 2.3% | 8.1% |
| Stock pay / revenue | 0.5% | 0.4% | 0.0% | 2.3% | 3.1% | 0.9% | 2.7% |
| Change in share count | −1.9% | 38.0% | 1.3% | 12.9% | — | 34.9% | 4.2% |
| Measure | Company | Peer median | Rank |
|---|---|---|---|
| Revenue growth Growth | -5.1% | -1.2% | 15 of 27 |
| Change in growth rate Growth | -7.2pp | -0.5pp | 17 of 27 |
| Gross margin Profitability | 15.8% | 44.5% | 18 of 22 |
| Operating margin Profitability | 2.8% | -3.2% | 9 of 26 |
| Net margin Profitability | -1.6% | -2.3% | 12 of 27 |
| Free-cash-flow margin Cash generation | 4.7% | 4.7% | 13 of 26 |
| Stock pay as % of revenue Cash generation | 0.5% | 2.7% | 7 of 23 |
| Change in share count Balance sheet | -1.9% | 4.2% | 4 of 24 |
| Days sales outstanding Balance sheet | 200 days | 91 days | 21 of 25 |
Rank 1 = best in the group (for spending, debt and dilution, lower ranks first).
| Manager | Value | Shares | Share of 13F value | Shares QoQ |
|---|---|---|---|---|
| Hotchkis & Wiley Capital Management LLC | $258M | 16.7M | 67.0% | ▲ 11.2% |
| Brandes Investment Partners, LP | $16.6M | 1.1M | 4.3% | ▲ 19.0% |
| Capricorn Fund Managers Ltd | $10.5M | 676K | 2.7% | New |
| Dimensional Fund Advisors LP | $8.7M | 557K | 2.2% | ▼ 16.7% |
| Boothbay Fund Management, LLC | $7M | 450K | 1.8% | New |
| D. E. Shaw & Co., Inc. | $6.3M | 407K | 1.6% | ▼ 25.4% |
| Connor, Clark & Lunn Investment Management Ltd. | $6M | 387K | 1.6% | ▼ 9.4% |
| Bank Of Montreal | $5.9M | 383K | 1.5% | ▲ 922.7% |
| Abc Arbitrage SA | $4.5M | 291K | 1.2% | New |
| Jane Street Group, LLC | $3.9M | 250K | 1.0% | ▲ 126.5% |
| Citadel Advisors LLC | $3.3M | 214K | 0.9% | ▼ 24.4% |
| Millennium Management LLC | $3.1M | 199K | 0.8% | ▼ 56.7% |
From Form 13F filings with the SEC ( quarterly data sets), as reported by each manager for June 30, 2026 and filed up to 45 days later. 13F reports cover long US-listed positions of managers above $100M only, so this is not WPP plc's complete shareholder register. Values are as reported by the filers .
| Insider | Date | Trade | Shares | Price | Value |
|---|---|---|---|---|---|
| Agnefjall Hans Peter Henrik Director | May 21, 2026 | Buy | 75,000 | — | $0 |
From insiders' Form 4 filings with the SEC. Excludes awards, option exercises and shares withheld for tax. "Pre-set plan" means the filing marks the trade as made under a Rule 10b5-1 plan. See every insider trade since five years ago, on a price chart.
No trades in WPP plc disclosed in the last 12 months; 19 earlier trades on record.
| Data | Last updated | Source |
|---|---|---|
| Share price | Exchange closing prices | |
| News and updates | Company releases and SEC 8-K filings | |
| Analyst estimates | Aggregated analyst estimates | |
| Valuation and scores | Our models, from the filed figures |
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