NYSE : WPP
WPP plc — Financial statements
Communication Services · Advertising Agencies · United Kingdom
Last price 27.72 USD (Oct 30, 2026, 9:48 AM EDT) · Market cap 6.00B
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Financial statements
WPP plc (WPP) reported revenue of 13.26B GBP (TTM). Five years of income statement, balance sheet, cash flow and ratios below.
Income statement
Fiscal year January - December; amounts in GBP.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Revenue | 13.26B | 13.55B | 14.74B | 14.85B | 14.43B | 12.80B |
| Cost of Revenue | 11.15B | 11.40B | 12.29B | 12.33B | 11.89B | 10.60B |
| Gross Profit | 2.11B | 2.15B | 2.45B | 2.52B | 2.54B | 2.20B |
| Selling, General & Admin | 1.70B | 1.77B | 1.14B | 2.00B | 1.19B | 978.80M |
| Operating Expenses | 1.70B | 1.77B | 1.14B | 2.00B | 1.19B | 978.80M |
| Operating Income | 413.00M | 373.00M | 1.31B | 521.00M | 1.35B | 1.22B |
| Interest Expense | -339.00M | -343.00M | -407.00M | -379.00M | -354.00M | -279.40M |
| Interest & Investment Income | 55.00M | 65.00M | 126.00M | 114.00M | 121.00M | 69.40M |
| Earnings From Equity Investments | 36.00M | 39.00M | 36.00M | 70.00M | -60.00M | 23.80M |
| Other Non Operating Income (Expenses) | -44.00M | -21.00M | -11.00M | -23.00M | 27.00M | -8.60M |
| EBT Excluding Unusual Items | 121.00M | 113.00M | 1.06B | 303.00M | 1.09B | 1.03B |
| Gain (Loss) on Sale of Investments | 17.00M | 17.00M | -13.00M | -8.00M | 47.00M | -7.50M |
| Other Unusual Items | 1.00M | 1.00M | -15.00M | 51.00M | 26.00M | -71.70M |
| Pretax Income | 139.00M | 131.00M | 1.03B | 346.00M | 1.16B | 950.80M |
| Income Tax Expense | 344.00M | 303.00M | 402.00M | 149.00M | 385.00M | 230.10M |
| Earnings From Continuing Operations | -205.00M | -172.00M | 629.00M | 197.00M | 775.00M | 720.70M |
| Net Income to Company | -205.00M | -172.00M | 629.00M | 197.00M | 775.00M | 720.70M |
| Minority Interest in Earnings | -35.00M | -43.00M | -87.00M | -87.00M | -92.00M | -83.00M |
| Net Income | -240.00M | -215.00M | 542.00M | 110.00M | 683.00M | 637.70M |
| Net Income to Common | -240.00M | -215.00M | 542.00M | 110.00M | 683.00M | 637.70M |
| Shares Outstanding (Basic) | 1.08B | 1.08B | 1.08B | 1.07B | 1.10B | 1.19B |
| Shares Outstanding (Diluted) | 1.08B | 1.08B | 1.10B | 1.09B | 1.12B | 1.22B |
| EPS (Basic) | -0.22 | -0.20 | 0.50 | 0.10 | 0.62 | 0.53 |
| EPS (Diluted) | -0.22 | -0.20 | 0.49 | 0.10 | 0.61 | 0.53 |
| Free Cash Flow | 1.02B | 633.00M | 1.22B | 1.06B | 492.00M | 1.77B |
| Free Cash Flow Per Share | 0.94 | 0.59 | 1.11 | 0.97 | 0.44 | 1.45 |
| Dividend Per Share | 0.15 | 0.15 | 0.39 | 0.39 | 0.39 | 0.31 |
| Gross Margin | 15.94% | 15.84% | 16.63% | 16.97% | 17.60% | 17.21% |
| Operating Margin | 3.12% | 2.75% | 8.92% | 3.51% | 9.38% | 9.57% |
| Profit Margin | -1.81% | -1.59% | 3.68% | 0.74% | 4.73% | 4.98% |
| Free Cash Flow Margin | 7.67% | 4.67% | 8.27% | 7.15% | 3.41% | 13.79% |
| EBITDA | 580.00M | 558.00M | 1.58B | 789.00M | 1.60B | 1.45B |
| EBITDA Margin | 4.37% | 4.12% | 10.69% | 5.32% | 11.11% | 11.29% |
| D&A For EBITDA | 167.00M | 185.00M | 261.00M | 268.00M | 250.00M | 221.00M |
| EBIT | 413.00M | 373.00M | 1.31B | 521.00M | 1.35B | 1.22B |
| EBIT Margin | 3.12% | 2.75% | 8.92% | 3.51% | 9.38% | 9.57% |
| Effective Tax Rate | 247.48% | 231.30% | 38.99% | 43.06% | 33.19% | 24.20% |
Balance sheet
Fiscal year January - December; amounts in GBP.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 2.36B | 2.69B | 2.64B | 2.22B | 2.27B | 2.78B |
| Short-Term Investments | 219.90M | 1.11B | ||||
| Cash & Short-Term Investments | 2.36B | 2.69B | 2.64B | 2.22B | 2.49B | 3.88B |
| Accounts Receivable | 7.18B | 6.28B | 6.72B | 7.33B | 7.76B | 6.85B |
| Other Receivables | 3.12B | 3.99B | 4.08B | 4.16B | 4.61B | 4.38B |
| Receivables | 10.31B | 10.27B | 10.80B | 11.49B | 12.37B | 11.23B |
| Prepaid Expenses | 205.00M | 221.00M | 239.00M | 236.60M | 215.30M | |
| Other Current Assets | 3.00M | 1.00M | 1.00M | 5.10M | 2.50M | |
| Total Current Assets | 12.67B | 13.17B | 13.66B | 13.94B | 15.10B | 15.34B |
| Property, Plant & Equipment | 1.94B | 2.04B | 2.29B | 2.21B | 2.53B | 2.29B |
| Long-Term Investments | 525.00M | 565.00M | 651.00M | 620.00M | 674.90M | 731.20M |
| Goodwill | 7.04B | 6.95B | 7.61B | 8.39B | 8.45B | 7.61B |
| Other Intangible Assets | 746.00M | 734.00M | 737.00M | 850.00M | 1.45B | 1.36B |
| Long-Term Deferred Tax Assets | 304.00M | 292.00M | 323.00M | 324.00M | 322.10M | 341.50M |
| Other Long-Term Assets | 341.00M | 327.00M | 233.00M | 286.00M | 292.70M | 199.20M |
| Total Assets | 23.57B | 24.07B | 25.51B | 26.62B | 28.82B | 27.87B |
| Accounts Payable | 12.58B | 10.07B | 10.64B | 10.83B | 11.18B | 10.60B |
| Short-Term Debt | 187.00M | 168.00M | 171.00M | 358.00M | 505.70M | 342.30M |
| Current Portion of Long-Term Debt | 1.29B | 654.00M | 413.00M | 588.00M | 663.30M | 224.90M |
| Current Portion of Leases | 228.00M | 223.00M | 240.00M | 292.00M | 282.40M | 279.70M |
| Current Income Taxes Payable | 180.00M | 221.00M | 333.00M | 370.00M | 422.00M | 386.20M |
| Current Unearned Revenue | 955.00M | 1.16B | 1.32B | 1.60B | 1.33B | |
| Other Current Liabilities | 171.00M | 2.55B | 2.56B | 2.55B | 3.05B | 3.32B |
| Total Current Liabilities | 14.64B | 14.84B | 15.52B | 16.30B | 17.71B | 16.49B |
| Long-Term Debt | 3.87B | 4.11B | 3.74B | 3.77B | 3.80B | 4.22B |
| Long-Term Leases | 1.61B | 1.67B | 1.78B | 1.86B | 1.93B | 1.76B |
| Pension & Post-Retirement Benefits | 127.00M | 128.00M | 132.00M | 136.00M | 137.50M | 136.60M |
| Long-Term Deferred Tax Liabilities | 148.00M | 146.00M | 142.00M | 179.00M | 350.80M | 312.50M |
| Other Long-Term Liabilities | 399.00M | 407.00M | 461.00M | 533.00M | 735.50M | 888.40M |
| Total Liabilities | 20.79B | 21.30B | 21.77B | 22.79B | 24.66B | 23.80B |
| Common Stock | 109.00M | 109.00M | 109.00M | 114.00M | 114.10M | 122.40M |
| Additional Paid-In Capital | 579.00M | 579.00M | 579.00M | 577.00M | 575.90M | 574.70M |
| Retained Earnings | 2.14B | 1.64B | 2.47B | 3.14B | 3.76B | 4.37B |
| Treasury Stock | -190.00M | -188.00M | -191.00M | -990.00M | -1.05B | -1.11B |
| Comprehensive Income & Other | -32.00M | 396.00M | 505.00M | 534.00M | 285.20M | -335.90M |
| Total Common Equity | 2.60B | 2.54B | 3.48B | 3.38B | 3.68B | 3.62B |
| Minority Interest | 186.00M | 232.00M | 259.00M | 457.00M | 479.60M | 452.60M |
| Shareholders' Equity | 2.79B | 2.77B | 3.73B | 3.83B | 4.16B | 4.07B |
| Total Liabilities & Equity | 23.57B | 24.07B | 25.51B | 26.62B | 28.82B | 27.87B |
| Total Debt | 7.18B | 6.83B | 6.35B | 6.88B | 7.18B | 6.83B |
| Net Cash (Debt) | -4.82B | -4.14B | -3.71B | -4.66B | -4.69B | -2.94B |
| Net Cash Per Share | -4.48 | -3.85 | -3.38 | -4.26 | -4.20 | -2.42 |
| Filing Date Shares Outstanding | 1.08B | 1.08B | 1.08B | 1.07B | 1.07B | 1.15B |
| Total Common Shares Outstanding | 1.08B | 1.08B | 1.08B | 1.07B | 1.07B | 1.15B |
| Working Capital | -1.97B | -1.67B | -1.85B | -2.36B | -2.61B | -1.15B |
| Book Value Per Share | 2.42 | 2.36 | 3.22 | 3.14 | 3.44 | 3.15 |
| Tangible Book Value | -5.19B | -5.14B | -4.87B | -5.86B | -6.22B | -5.36B |
| Tangible Book Value Per Share | -4.82 | -4.77 | -4.52 | -5.46 | -5.81 | -4.66 |
| Land | 27.00M | 36.00M | 12.00M | 40.00M | 43.20M | |
| Buildings | 1.02B | 1.10B | 1.09B | 1.27B | 1.14B | |
| Machinery | 396.00M | 456.00M | 509.00M | 611.50M | 541.30M |
Cash flow statement
Fiscal year January - December; amounts in GBP.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | -240.00M | -215.00M | 542.00M | 110.00M | 683.00M | 637.70M |
| Depreciation & Amortization | 365.00M | 386.00M | 474.00M | 525.00M | 512.00M | 493.90M |
| Loss (Gain) From Sale of Assets | -7.00M | -6.00M | -1.30M | |||
| Asset Writedown & Restructuring Costs | 591.00M | 707.00M | 283.00M | 731.00M | 159.00M | 88.90M |
| Loss (Gain) From Sale of Investments | 2.00M | -6.00M | -322.00M | -7.00M | -30.00M | -31.80M |
| Loss (Gain) on Equity Investments | -36.00M | -39.00M | -36.00M | -70.00M | 60.00M | -23.80M |
| Stock-Based Compensation | 81.00M | 73.00M | 109.00M | 140.00M | 122.00M | 99.60M |
| Other Operating Activities | 267.00M | 109.00M | 180.00M | 69.00M | 48.00M | 63.80M |
| Change in Accounts Receivable | 307.00M | 307.00M | 309.00M | 232.00M | -499.00M | -458.90M |
| Change in Accounts Payable | -390.00M | -390.00M | 31.00M | -238.00M | 171.00M | 777.80M |
| Change in Other Net Operating Assets | 153.00M | -208.00M | -155.00M | -254.00M | -519.00M | 383.10M |
| Operating Cash Flow | 1.10B | 724.00M | 1.41B | 1.24B | 701.00M | 2.03B |
| Capital Expenditures | -83.00M | -91.00M | -189.00M | -177.00M | -209.00M | -263.20M |
| Sale of Property, Plant & Equipment | 11.00M | 8.00M | 21.00M | 5.00M | 13.00M | 8.70M |
| Cash Acquisitions | -116.00M | -176.00M | -120.00M | -257.00M | -226.00M | -283.10M |
| Divestitures | -1.00M | -1.00M | -93.00M | -1.00M | -12.00M | -23.60M |
| Sale (Purchase) of Intangibles | -100.00M | -95.00M | -47.00M | -40.00M | -15.00M | -29.90M |
| Investment in Securities | 63.00M | 8.00M | 613.00M | 90.00M | 40.00M | -47.30M |
| Investing Cash Flow | -226.00M | -347.00M | 278.00M | -380.00M | -409.00M | -638.40M |
| Long-Term Debt Issued | 874.00M | 1.06B | 1.05B | |||
| Long-Term Debt Repaid | -660.00M | -1.37B | -1.36B | -531.00M | -717.80M | |
| Lease Payments | -239.00M | -242.00M | -282.00M | -259.00M | -310.00M | -320.70M |
| Net Debt Issued (Repaid) | 446.00M | 214.00M | -309.00M | -308.00M | -531.00M | -717.80M |
| Issuance of Common Stock | 2.00M | 1.00M | 1.00M | 4.40M | ||
| Repurchase of Common Stock | -25.00M | -97.00M | -82.00M | -54.00M | -862.00M | -818.50M |
| Common Dividends Paid | -343.00M | -343.00M | -425.00M | -423.00M | -365.00M | -314.70M |
| Other Financing Activities | -152.00M | -93.00M | -175.00M | -120.00M | -154.00M | -210.40M |
| Financing Cash Flow | -74.00M | -319.00M | -989.00M | -904.00M | -1.91B | -2.06B |
| Foreign Exchange Rate Adjustments | 28.00M | 1.00M | -90.00M | -80.00M | 64.00M | -130.10M |
| Net Cash Flow | 828.00M | 59.00M | 607.00M | -126.00M | -1.55B | -796.50M |
| Free Cash Flow | 1.02B | 633.00M | 1.22B | 1.06B | 492.00M | 1.77B |
| Free Cash Flow Margin | 7.67% | 4.67% | 8.27% | 7.15% | 3.41% | 13.79% |
| Free Cash Flow Per Share | 0.94 | 0.59 | 1.11 | 0.97 | 0.44 | 1.45 |
| Levered Free Cash Flow | 744.25M | -63.25M | 1.24B | 227.65M | 498.68M | 1.88B |
| Unlevered Free Cash Flow | 956.12M | 151.12M | 1.50B | 464.52M | 719.92M | 2.05B |
| Free Cash Flow After Leases | 778.00M | 391.00M | 937.00M | 802.00M | 182.00M | 1.45B |
| Cash Interest Paid | 386.00M | 377.00M | 401.00M | 378.00M | 302.00M | 88.40M |
| Cash Income Tax Paid | 350.00M | 398.00M | 392.00M | 395.00M | 391.00M | 391.10M |
| Change in Working Capital | 70.00M | -291.00M | 185.00M | -260.00M | -847.00M | 702.00M |
Ratios
Fiscal year January - December; amounts in GBP.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 5.86B | 4.90B | 11.11B | 10.25B | 10.53B | 17.41B |
| Enterprise Value | 12.57B | 12.38B | 18.47B | 18.02B | 17.45B | 22.74B |
| Last Close Price | 27.18 | 21.47 | 46.12 | 40.60 | 39.97 | 58.86 |
| PE Ratio | 16.38 | 73.18 | 12.79 | 20.16 | ||
| PS Ratio | 0.33 | 0.27 | 0.60 | 0.54 | 0.60 | 1.00 |
| PB Ratio | 1.58 | 1.31 | 2.38 | 2.10 | 2.10 | 3.16 |
| P/FCF Ratio | 4.30 | 5.75 | 7.28 | 7.59 | 17.76 | 7.28 |
| P/OCF Ratio | 3.98 | 5.03 | 6.30 | 6.50 | 12.46 | 6.34 |
| EV/Sales Ratio | 0.71 | 0.68 | 1.00 | 0.95 | 1.00 | 1.31 |
| EV/EBITDA Ratio | 16.33 | 16.49 | 9.36 | 17.93 | 9.03 | 11.61 |
| EV/EBIT Ratio | 22.93 | 24.67 | 11.22 | 27.16 | 10.70 | 13.71 |
| EV/FCF Ratio | 9.23 | 14.54 | 12.10 | 13.34 | 29.43 | 9.51 |
| Debt / Equity Ratio | 2.58 | 2.46 | 1.70 | 1.79 | 1.73 | 1.68 |
| Debt / EBITDA Ratio | 9.23 | 9.00 | 3.55 | 6.57 | 3.85 | 3.97 |
| Debt / FCF Ratio | 7.06 | 10.79 | 5.21 | 6.48 | 14.60 | 3.87 |
| Net Debt / Equity Ratio | 1.73 | 1.49 | 0.99 | 1.22 | 1.13 | 0.72 |
| Net Debt / EBITDA Ratio | 8.31 | 7.42 | 2.35 | 5.90 | 2.93 | 2.04 |
| Net Debt / FCF Ratio | 4.74 | 6.54 | 3.04 | 4.39 | 9.53 | 1.67 |
| Asset Turnover | 0.56 | 0.55 | 0.57 | 0.54 | 0.51 | 0.40 |
| Quick Ratio | 0.87 | 0.87 | 0.87 | 0.84 | 0.84 | 0.92 |
| Current Ratio | 0.87 | 0.89 | 0.88 | 0.85 | 0.85 | 0.93 |
| Return on Equity (ROE) | -6.62% | -5.29% | 16.62% | 4.93% | 18.83% | 15.81% |
| Return on Assets (ROA) | 1.10% | 0.94% | 3.15% | 1.18% | 2.98% | 2.39% |
| Return on Invested Capital (ROIC) | -8.01% | -6.82% | 10.07% | 3.42% | 11.40% | 12.45% |
| Return on Capital Employed (ROCE) | 4.60% | 4.00% | 13.20% | 5.00% | 12.20% | 10.80% |
| Earnings Yield | -5.50% | -5.91% | 6.11% | 1.37% | 7.82% | 4.96% |
| FCF Yield | 23.24% | 17.39% | 13.73% | 13.18% | 5.63% | 13.73% |
| Dividend Yield | 3.54% | 4.44% | 4.79% | 5.26% | 4.83% | 2.79% |
| Payout Ratio | 78.41% | 384.55% | 53.44% | 49.35% | ||
| Buyback Yield / Dilution | 1.96% | 1.91% | -0.27% | 1.97% | 8.17% | 0.63% |
| Total Shareholder Return | 5.49% | 6.36% | 4.51% | 7.23% | 13.00% | 3.42% |