SCAN — WPP Scangroup PLC
Graham's number is √(22.5 × EPS × BVPS): a P/E ceiling of 15 times a P/B ceiling of 1.5, applied to one year's earnings and book value. The Graham number primer works through it. It is a computation, not a recommendation.
Tests: Graham's criteria for industrial companies. WPP Scangroup is a marketing and communications group with agencies across sub-Saharan Africa, so Graham's industrial tests apply: sales for size, and the current ratio and long-term debt against working capital for strength. FY2025 was a loss, so there is no Graham number for the year. The profile holds one year: no half-year results for 2025 or 2026 have been filed with the NSE, where the most recent interim is the six months to 30 Jun 2024.
Showing FY2025
√(22.5 × -1.61 × 9.60) = no result
The Graham number for FY2025, from that year's EPS and BVPS. The formula multiplies earnings by book value and takes the square root, so it has no answer when either one is a loss or a deficit. Tap a figure below for its source and date.
The figures
Per share (KES)
- Earnings (EPS)
-1.61
basic and diluted loss per share (2024: 1.17 loss); loss attributable to shareholders of the holding company 696,672k of a group loss of 713,673k, over 432,156,000 shares. Gross profit fell 27% on client losses and lower media and advertising spend, and the group took a one-off severance cost of 176m in a restructuring · basic · Publication of the 2025 financial results, summary consolidated statement of profit or loss · 24 Apr 2026
- Book value (BVPS)
9.60
equity attributable to shareholders of the holding company 4,147,058k; the non-controlling interests are negative at −152,356k, so total equity is lower at 3,994,702k · attributable · computed: equity attributable to shareholders 4,147,058k ÷ 432,156,000 shares, Publication of the 2025 financial results, summary consolidated statement of financial position · 24 Apr 2026
- Dividend (DPS)
0.00
the directors did not propose a dividend for the year ended 31 Dec 2025 (2024: nil) · Publication of the 2025 financial results, proposed dividend · 24 Apr 2026
- Price on results day
2.26
NSE daily price list VWAP, the exchange's official end-of-day price. The board approved the results on 23 Apr 2026 and the announcement PDF was created that evening at 19:04, after the market closed, so the first trading day after that is used · NSE daily price list 2026-04-24, p.1 · 24 Apr 2026
Size and balance sheet (KES m)
- Revenue
2,043.4
revenue, down from 2,441.9m in 2024; gross profit was 1,467.5m · Publication of the 2025 financial results, summary consolidated statement of profit or loss · 24 Apr 2026
- Current assets
4,303.3
other current assets 3,440.1m plus cash, bank and short-term deposits 863.1m · Publication of the 2025 financial results, summary consolidated statement of financial position · 24 Apr 2026
- Current liabilities
2,259.0
Publication of the 2025 financial results, summary consolidated statement of financial position · 24 Apr 2026
- Long-term debt
0.0
no borrowings are disclosed; total non-current liabilities were 76.4m · Publication of the 2025 financial results, summary consolidated statement of financial position · 24 Apr 2026
- KES per US$
129.32
CBK daily exchange rates (mean) · 24 Apr 2026
Computed
- EPS, three-year average
- Not compiled
- P/E on three-year EPS
- Not compiled
- P/B
0.24
computed: price ÷ BVPS · 24 Apr 2026
- Dividend yield
0.0%
computed: DPS ÷ price · 24 Apr 2026
- Current ratio
1.90
computed: current assets ÷ current liabilities · 24 Apr 2026
- Price ÷ Graham number
- Not compiled
- Discount to Graham number
- Not compiled
Graham's tests
- Not metAdequate size
Revenue of at least US$100m
Adequate sizeNot met
Revenue of at least US$100m
- Revenue KES 2,043.4m ÷ 129.32 KES per US$ = US$15.8m
- US$15.8m against a floor of US$100mfalls short
- Not metFinancial strength
Current ratio of at least 2; long-term debt no more than working capital
Financial strengthNot met
Current ratio of at least 2; long-term debt no more than working capital
- Current ratio: 4,303.3 ÷ 2,259.0 = 1.90, against a minimum of 2.00falls short
- Working capital: 4,303.3 − 2,259.0 = 2,044.3
- Long-term debt 0.0 against working capital of 2,044.3meets
- Not metEarnings stability
Positive EPS in each of the past 10 years
Earnings stabilityNot met
Positive EPS in each of the past 10 years
EPS positive in 0 of 10 years
- FY2016
- not held
- not held
- FY2017
- not held
- not held
- FY2018
- not held
- not held
- FY2019
- not held
- not held
- FY2020
- not held
- not held
- FY2021
- not held
- not held
- FY2022
- not held
- not held
- FY2023
- not held
- not held
- FY2024
- not held
- not held
- FY2025
- -1.61
- not positive
- EPS of -1.61 in FY2025falls short
Still needed: EPS for FY2016, EPS for FY2017, EPS for FY2018, EPS for FY2019, EPS for FY2020, EPS for FY2021, EPS for FY2022, EPS for FY2023, EPS for FY2024.
- Not metDividend record
A dividend paid in each of the past 20 years
Dividend recordNot met
A dividend paid in each of the past 20 years
Dividend paid in 0 of 20 years (FY2006–FY2025)
- No dividend in FY2025falls short
Still needed: DPS for FY2006, DPS for FY2007, DPS for FY2008, DPS for FY2009, DPS for FY2010, DPS for FY2011, DPS for FY2012, DPS for FY2013, DPS for FY2014, DPS for FY2015, DPS for FY2016, DPS for FY2017, DPS for FY2018, DPS for FY2019, DPS for FY2020, DPS for FY2021, DPS for FY2022, DPS for FY2023, DPS for FY2024.
- No result: data not compiledEarnings growth
EPS up at least one-third over 10 years, on three-year averages
Earnings growthNo result: data not compiled
EPS up at least one-third over 10 years, on three-year averages
- FY2016
- not held
- not held
- FY2017
- not held
- not held
- FY2018
- not held
- not held
- FY2023
- not held
- not held
- FY2024
- not held
- not held
- FY2025
- -1.61
Still needed: EPS for FY2016, EPS for FY2017, EPS for FY2018, EPS for FY2023, EPS for FY2024.
- No result: data not compiledModerate P/E
Price no more than 15 × three-year average EPS
Moderate P/ENo result: data not compiled
Price no more than 15 × three-year average EPS
Still needed: EPS for FY2023, EPS for FY2024.
- MetModerate P/B
Price no more than 1.5 × BVPS, or P/E × P/B no more than 22.5
Moderate P/BMet
Price no more than 1.5 × BVPS, or P/E × P/B no more than 22.5
- Price 2.26 ÷ BVPS 9.60 = 0.24
- 0.24 against a ceiling of 1.5meets
Sources and notes
- Earnings (EPS): basic · Publication of the 2025 financial results, summary consolidated statement of profit or loss · 24 Apr 2026 (basic and diluted loss per share (2024: 1.17 loss); loss attributable to shareholders of the holding company 696,672k of a group loss of 713,673k, over 432,156,000 shares. Gross profit fell 27% on client losses and lower media and advertising spend, and the group took a one-off severance cost of 176m in a restructuring)
- Book value (BVPS): attributable · computed: equity attributable to shareholders 4,147,058k ÷ 432,156,000 shares, Publication of the 2025 financial results, summary consolidated statement of financial position · 24 Apr 2026 (equity attributable to shareholders of the holding company 4,147,058k; the non-controlling interests are negative at −152,356k, so total equity is lower at 3,994,702k)
- Dividend (DPS): Publication of the 2025 financial results, proposed dividend · 24 Apr 2026 (the directors did not propose a dividend for the year ended 31 Dec 2025 (2024: nil))
- Price on results day: NSE daily price list 2026-04-24, p.1 · 24 Apr 2026 (NSE daily price list VWAP, the exchange's official end-of-day price. The board approved the results on 23 Apr 2026 and the announcement PDF was created that evening at 19:04, after the market closed, so the first trading day after that is used)
- Revenue: Publication of the 2025 financial results, summary consolidated statement of profit or loss · 24 Apr 2026 (revenue, down from 2,441.9m in 2024; gross profit was 1,467.5m)
- Current assets: Publication of the 2025 financial results, summary consolidated statement of financial position · 24 Apr 2026 (other current assets 3,440.1m plus cash, bank and short-term deposits 863.1m)
- Current liabilities: Publication of the 2025 financial results, summary consolidated statement of financial position · 24 Apr 2026
- Long-term debt: Publication of the 2025 financial results, summary consolidated statement of financial position · 24 Apr 2026 (no borrowings are disclosed; total non-current liabilities were 76.4m)
- KES per US$: CBK daily exchange rates (mean) · 24 Apr 2026