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CWK logoCushman & Wakefield plc(CWK)Earnings, Financials & Key Ratios

CWK•NYSE•REIT / Real Estate
$14.53
$3.4B mkt cap·38.2× P/E·Price updated May 6, 2026
SectorReal EstateIndustryReal Estate ServicesSub-IndustryCommercial real estate brokerage and advisory
AboutCushman & Wakefield plc, together with its subsidiaries, provides commercial real estate services under the Cushman & Wakefield brand in the United States, Australia, the United Kingdom, and internationally. The company operates through Americas; Europe, Middle East, and Africa; and Asia Pacific segments. It offers integrated facilities management, project and development, portfolio administration, transaction management, and strategic consulting services; property management services, including client accounting, engineering and operations, lease compliance administration, project and development, and sustainability services; and self-performed facilities services, which include janitorial, maintenance, critical environment management, landscaping, and office services. The company also provides owner representation and tenant representation leasing services; capital market services, including investment sales and equity, and debt and structured financing for real estate purchase and sales transactions; and appraisal management, investment management, valuation advisory, portfolio advisory, diligence advisory, dispute analysis and litigation support, financial reporting, and property and/or portfolio valuation services on real estate debt and equity decisions. Cushman & Wakefield has strategic partnerships with Vanke Service (Hong Kong) Co., Limited. It serves real estate owners and occupiers, such as tenants, investors, and multi-national corporations. Cushman & Wakefield plc was founded in 1784 and is based in London, the United Kingdom.Show more
  • Revenue$10.29B+8.9%
  • FFO$192M-24.1%
  • FFO/Share0.82-24.7%
  • FFO Payout0%
  • FFO per Share0.82-24.7%
  • NOI Margin16.25%-11.1%
  • FFO Margin1.87%-30.3%
  • ROE4.75%-37.9%
  • ROA1.16%-32.4%
  • Debt/Assets42.25%-3.7%
  • Net Debt/EBITDA4.37-20.1%
  • Book Value/Share8.33+10.5%
Technical→

CWK Key Insights

Cushman & Wakefield plc (CWK) fundamental analysis — strengths, weaknesses & financial health based on data analysis

✓Strengths

No significant strengths identified

✗Weaknesses

  • ✗Weak 3Y average ROE of 3.4%
  • ✗FFO declining 30.2% TTM
  • ✗Low NOI margin of 16.2%

* These insights are generated automatically based on available financial data. Please conduct your own research before making investment decisions.

CWK Price & Volume

Cushman & Wakefield plc (CWK) stock price & volume — 10-year historical chart

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CWK Growth Metrics

Cushman & Wakefield plc (CWK) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR

Revenue CAGR

10 Years-
5 Years5.58%
3 Years0.6%
TTM8.91%

Profit CAGR

10 Years-
5 Years-
3 Years-23.42%
TTM-32.83%

EPS CAGR

10 Years-
5 Years-
3 Years-23.83%
TTM-30.69%

Return on Capital

10 Years2.8%
5 Years7.26%
3 Years5.78%
Last Year7.18%

CWK Recent Earnings

Cushman & Wakefield plc (CWK) EPS & revenue vs analyst estimates — last 4 quarters

Full history →
●Beat EPS 9/12 qtrs (75%)●Beat Revenue 8/12 qtrs (67%)
Q1 2026Latest
Feb 19, 2026
EPS
$0.10
Est $0.53
-118.5%
Revenue
$2.0B
Est $2.0B
+1.4%
Q4 2025
Oct 30, 2025
EPS
$0.29
Est $0.28
+3.6%
Revenue
$2.6B
Est $2.8B
-7.6%
Q3 2025
Aug 5, 2025
EPS
$0.30
Est $0.22
+36.4%
Revenue
$2.5B
Est $2.5B
+0.6%
Q2 2025
Apr 29, 2025
EPS
$0.09
Est $0.02
+350.0%
Revenue
$2.3B
Est $2.4B
-3.0%
QuarterDateEPS (Act vs Est)Revenue (Act vs Est)
Q1 2026LatestFeb 19, 2026
$0.10vs $0.53-118.5%
$2.0Bvs $2.0B+1.4%
Q4 2025Oct 30, 2025
$0.29vs $0.28+3.6%
$2.6Bvs $2.8B-7.6%
Q3 2025Aug 5, 2025
$0.30vs $0.22+36.4%
$2.5Bvs $2.5B+0.6%
Q2 2025Apr 29, 2025
$0.09vs $0.02+350.0%
$2.3Bvs $2.4B-3.0%
Based on last 12 quarters of dataView full earnings history →

CWK Peer Comparison

Cushman & Wakefield plc (CWK) competitors in Commercial real estate brokerage and advisory — business model, growth, and fundamentals comparison

Select Columns
Stock Universe
Valuation
Growth
Profitability
Financial Health
Dividends & Buybacks
Price Performance
Technical
Fundamentals ($)
Sector-Specific
CompanyMarket CapStock PriceP/E Ratio (TTM)Revenue Growth 1YNet MarginReturn on Equity (ROE)FCF YieldDebt / Equity
JLL logoJLLJones Lang LaSalle IncorporatedDirect Competitor14.76B318.1319.4011.45%3.35%12.14%6.63%0.44
CBRE logoCBRECBRE Group, Inc.Direct Competitor41.79B142.5737.0313.37%3.11%14.27%2.85%1.04
MMI logoMMIMarcus & Millichap, Inc.Direct Competitor1.09B28.67-585.108.49%-0.25%-0.31%5.39%0.13
NEN logoNENNew England Realty Associates Limited PartnershipDirect Competitor168.5M59.7034.7110.76%6.76%100%
NMRK logoNMRKNewmark Group, Inc.Product Competitor3.01B16.3324.0121.86%3.83%7.85%4.73%1.14
DOUG logoDOUGDouglas Elliman Inc.Product Competitor175.55M1.9911.713.76%1.47%10.25%0.56
COMP logoCOMPCompass, Inc.Product Competitor4.08B7.26-72.6023.67%0.17%1.11%4.98%0.58
RMR logoRMRThe RMR Group Inc.Product Competitor292.5M19.5018.93-21.98%3.51%5.59%24.65%0.51

Compare CWK vs Peers

Cushman & Wakefield plc (CWK) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.

Closest Rival

vs JLL

Most directly comparable listed peer for CWK.

Scale Benchmark

vs CRM

Larger-name benchmark to compare CWK against a more recognizable public peer.

Peer Set

Compare Top 5

vs JLL, CBRE, MMI, NEN

CWK Income Statement

Cushman & Wakefield plc (CWK) annual income statement — 10-year revenue, gross profit & net income history

10Y historyFree accessUpdated daily
Line itemDec'17Dec'18Dec'19Dec'20Dec'21Dec'22Dec'23Dec'24Dec'25
Revenue6.92B8.22B8.75B7.84B9.39B10.11B9.49B9.45B10.29B
Revenue Growth %11.39%18.72%6.46%-10.37%19.7%7.64%-6.06%-0.5%8.91%
Property Operating Expenses5.64B6.64B6.98B6.46B7.45B8.15B7.84B7.72B8.62B
Net Operating Income (NOI)
1.28B▲ 0%
1.58B▲ 22.8%
1.77B▲ 12.2%
1.39B▼ 21.5%
1.94B▲ 39.8%
1.95B▲ 0.6%
1.65B▼ 15.4%
1.73B▲ 4.5%
1.67B▼ 3.2%
NOI Margin %18.55%19.19%20.22%17.7%20.67%19.32%17.4%18.27%16.25%
Operating Expenses1.43B1.56B1.58B1.44B1.44B1.42B1.45B1.39B1.21B
G&A Expenses1.16B1.27B1.28B1.12B1.23B1.26B1.26B1.22B1.32B
EBITDA6.9B8.22B601.9M328.7M773.3M784.2M449M461.1M562.8M
EBITDA Margin %99.71%100%6.88%4.19%8.24%7.76%4.73%4.88%5.47%
Depreciation & Amortization7.07B8.21B414.6M381.8M276.3M249.1M243.4M122.2M104.2M
D&A / Revenue %102.16%99.84%4.74%4.87%2.94%2.46%2.56%1.29%1.01%
Operating Income
-170.2M▲ 0%
12.6M▲ 107.4%
187.3M▲ 1386.5%
-53.1M▼ 128.4%
497M▲ 1036.0%
535.1M▲ 7.7%
205.6M▼ 61.6%
338.9M▲ 64.8%
458.6M▲ 35.3%
Operating Margin %-2.46%0.15%2.14%-0.68%5.29%5.3%2.17%3.59%4.46%
Interest Expense183.1M228.8M150.6M163.8M179.5M193.1M281.1M229.9M216.2M
Interest Coverage-0.78x0.06x1.29x0.02x2.89x2.75x0.89x1.69x1.53x
Non-Operating Income-28.5M-1.5M-7.7M-57.1M-22.4M4M-45.5M-49.6M128.2M
Pretax Income
-340.9M▲ 0%
-210.8M▲ 38.2%
42.8M▲ 120.3%
-176.6M▼ 512.6%
339.9M▲ 292.5%
338M▼ 0.6%
-30M▼ 108.9%
175.8M▲ 686.0%
114.2M▼ 35.0%
Pretax Margin %-4.92%-2.56%0.49%-2.25%3.62%3.34%-0.32%1.86%1.11%
Income Tax-120.4M-25M42.6M43.9M89.9M141.6M5.4M44.5M26M
Effective Tax Rate %35.32%11.86%99.53%-24.86%26.45%41.89%-18%25.31%22.77%
Net Income
-220.5M▲ 0%
-185.8M▲ 15.7%
200K▲ 100.1%
-220.5M▼ 110350.0%
250M▲ 213.4%
196.4M▼ 21.4%
-35.4M▼ 118.0%
131.3M▲ 470.9%
88.2M▼ 32.8%
Net Margin %-3.18%-2.26%0%-2.81%2.66%1.94%-0.37%1.39%0.86%
Net Income Growth %49.22%15.74%100.11%-110350%213.38%-21.44%-118.02%470.9%-32.83%
Funds From Operations (FFO)
6.85B▲ 0%
8.02B▲ 17.0%
414.8M▼ 94.8%
161.3M▼ 61.1%
526.3M▲ 226.3%
445.5M▼ 15.4%
208M▼ 53.3%
253.5M▲ 21.9%
192.4M▼ 24.1%
FFO Margin %98.98%97.58%4.74%2.06%5.61%4.41%2.19%2.68%1.87%
FFO Growth %13.1%17.04%-94.83%-61.11%226.29%-15.35%-53.31%21.88%-24.1%
FFO per Share37.8146.851.850.732.321.950.921.090.82
FFO Payout Ratio %0%0%0%0%0%0%0%0%0%
EPS (Diluted)
-1.22▲ 0%
-1.09▲ 10.7%
0.00▲ 100.1%
-1.00▼ 111211.1%
1.10▲ 210.0%
0.86▼ 21.8%
-0.16▼ 118.6%
0.56▲ 450.0%
0.38▼ 32.1%
EPS Growth %49.17%10.66%100.08%-210%-21.82%-118.6%450%-32.14%
EPS (Basic)-1.22-1.090.00-1.001.120.87-0.160.570.38
Diluted Shares Outstanding181.27M171.2M224.5M220.8M226.5M228M226.9M232.8M234.7M

CWK Balance Sheet

Cushman & Wakefield plc (CWK) balance sheet — assets, liabilities & shareholders' equity

Line itemDec'17Dec'18Dec'19Dec'20Dec'21Dec'22Dec'23Dec'24Dec'25
Total Assets5.8B6.55B7.16B7.34B7.89B7.95B7.77B7.55B7.68B
Asset Growth %2.04%12.9%9.43%2.44%7.53%0.75%-2.21%-2.89%1.69%
Real Estate & Other Assets432.8M489.5M685.7M533.6M741.1M976M805.8M927.6M1.02B
PP&E (Net)304.3M313.8M490.7M674.1M592.4M527.7M502.8M426.1M410.1M
Investment Securities1000K1000K1000K1000K1000K1000K1000K1000K1000K
Total Current Assets1.91B2.74B2.86B2.89B2.83B2.77B2.8B2.69B2.84B
Cash & Equivalents405.6M895.3M813.2M1.07B770.7M644.5M767.7M793.3M784.2M
Receivables1000K1000K1000K1000K1000K1000K1000K1000K1000K
Other Current Assets00131.5M169.7M0246.3M189.4M544.7M543.4M
Intangible Assets1.31B1.13B1.06B991.2M937.9M877.4M805.9M690.1M654.7M
Total Liabilities5.29B5.19B5.86B6.24B6.44B6.29B6.1B5.79B5.72B
Total Debt2.84B2.68B3.12B3.96B3.66B3.6B3.57B3.31B3.24B
Net Debt2.44B1.79B2.3B2.88B2.89B2.95B2.8B2.52B2.46B
Long-Term Debt2.78B2.64B2.62B3.39B3.22B3.21B3.1B2.92B2.87B
Short-Term Borrowings59.5M39.9M39.3M29.7M42.4M49.8M149.7M103.2M124.9M
Capital Lease Obligations019.5M457.1M539.1M394.6M334.6M319.6M286.3M246.6M
Total Current Liabilities1.97B2.04B2.32B2.07B2.43B2.39B2.4B2.33B124.9M
Accounts Payable724.8M980.9M1.15B1.01B1.11B1.2B1.16B1.11B0
Deferred Revenue900.5M43.2M948.4M000000
Other Liabilities386.9M347.1M352.1M371.6M343.5M293.3M268.6M241.4M2.46B
Total Equity
2.88B▲ 0%
3.08B▲ 6.9%
3.55B▲ 15.2%
1.1B▼ 69.1%
1.45B▲ 32.2%
1.66B▲ 14.7%
1.68B▲ 1.0%
1.76B▲ 4.6%
1.96B▲ 11.4%
Equity Growth %1.92%6.92%15.17%-69.1%32.22%14.74%0.96%4.61%11.42%
Shareholders Equity503.9M1.36B1.3B1.09B1.45B1.66B1.68B1.75B1.96B
Minority Interest2.38B1.72B2.24B900K800K800K600K500K500K
Common Stock1.45B21.7M22M22.2M22.4M22.6M22.7M23M23.2M
Additional Paid-in Capital283.8M2.79B2.82B2.84B2.9B2.91B2.96B2.99B3.04B
Retained Earnings-1.17B-1.3B-1.3B-1.53B-1.28B-1.08B-1.12B-985.9M-897.7M
Preferred Stock000000000
Return on Assets (ROA)-3.84%-3.01%0%-3.04%3.28%2.48%-0.45%1.71%1.16%
Return on Equity (ROE)-7.73%-6.24%0.01%-9.5%19.65%12.63%-2.12%7.65%4.75%
Debt / Assets49.04%41%43.51%53.96%46.35%45.24%45.87%43.89%42.25%
Debt / Equity0.99x0.87x0.88x3.61x2.52x2.16x2.13x1.89x1.66x
Net Debt / EBITDA0.35x0.22x3.83x8.78x3.73x3.76x6.23x5.46x4.37x
Book Value per Share15.8817.9815.794.966.407.297.407.548.33

CWK Cash Flow Statement

Cushman & Wakefield plc (CWK) cash flow — operating, investing & free cash flow history

Line itemDec'17Dec'18Dec'19Dec'20Dec'21Dec'22Dec'23Dec'24Dec'25
Cash from Operations4.4M-2.2M269.3M-38.2M549.5M49.1M152.2M208M340.4M
Operating CF Growth %101.31%-150%12340.91%-114.18%1538.48%-91.06%209.98%36.66%63.65%
Operating CF / Revenue %0.06%-0.03%3.08%-0.49%5.85%0.49%1.6%2.2%3.31%
Net Income-220.5M-185.8M200K-220.5M250M196.4M-35.4M131.3M88.2M
Depreciation & Amortization270.6M290M414.6M381.8M276.3M249.1M243.4M122.2M104.2M
Stock-Based Compensation51.4M81.9M61.3M42M58.2M40.3M54.1M35.6M58.2M
Other Non-Cash Items10.1M92.1M18.7M-9M57.1M87.5M65M85.6M245.5M
Working Capital Changes62.9M-221.5M-175.7M-250.3M-35.8M-538.8M-124.5M-138.6M-110.7M
Cash from Investing-143.2M-218M-274.9M-257.8M-749.5M-120.7M48.9M81.2M-21.1M
Acquisitions (Net)-99.9M-35.5M-275.9M-108.7M-7M-32.8M006.6M
Purchase of Investments0-8.7M-4.5M-14.6M-688.9M-26.4M-6.9M-1.7M-8.9M
Sale of Investments000000000
Other Investing85.8M-89.6M85.8M-93.5M200K-10.8M106.8M82.9M28.6M
Cash from Financing167.7M725.9M-89.6M571.9M-65.8M-79.3M-120.8M-253.4M-350.5M
Dividends Paid000000000
Common Dividends000000000
Debt Issuance (Net)1000K-1000K-1000K1000K-1000K-1000K-1000K-1000K-1000K
Share Repurchases-4.5M-15.2M-31.8M-18.9M-8.6M-27.2M-8.1M-10.4M-11.2M
Other Financing-10.5M-71.3M-19.3M-25.2M-17.1M-8.1M-78.5M-14.4M-13.2M
Net Change in Cash
43.1M▲ 0%
497.5M▲ 1054.3%
-93.1M▼ 118.7%
291.8M▲ 413.4%
-273.8M▼ 193.8%
-171.3M▲ 37.4%
82.2M▲ 148.0%
13.4M▼ 83.7%
-11.1M▼ 182.8%
Exchange Rate Effect14.2M-8.2M2.1M15.9M-8M-20.4M1.9M-22.4M20.1M
Cash at Beginning424.8M467.9M965.4M872.3M1.16B890.3M719M801.2M814.6M
Cash at End467.9M965.4M872.3M1.16B890.3M719M801.2M814.6M803.5M
Free Cash Flow
-124.7M▲ 0%
-86.4M▲ 30.7%
189M▲ 318.8%
-79.2M▼ 141.9%
495.7M▲ 725.9%
-1.6M▼ 100.3%
101.2M▲ 6425.0%
167M▲ 65.0%
293M▲ 75.4%
FCF Growth %69.76%30.71%318.75%-141.9%725.88%-100.32%6425%65.02%75.45%
FCF / Revenue %-1.8%-1.05%2.16%-1.01%5.28%-0.02%1.07%1.77%2.85%

CWK Key Ratios

Cushman & Wakefield plc (CWK) financial ratios — P/E, ROE, debt and 30+ core market and balance-sheet ratios

Metric2016201720182019202020212022202320242025
FFO per Share33.4337.8146.851.850.732.321.950.921.090.82
FFO Payout Ratio0%0%0%0%0%0%0%0%0%0%
NOI Margin18.47%18.55%19.19%20.22%17.7%20.67%19.32%17.4%18.27%16.25%
Net Debt / EBITDA0.37x0.35x0.22x3.83x8.78x3.73x3.76x6.23x5.46x4.37x
Debt / Assets46.82%49.04%41%43.51%53.96%46.35%45.24%45.87%43.89%42.25%
Interest Coverage-1.53x-0.78x0.06x1.29x0.02x2.89x2.75x0.89x1.69x1.53x
Book Value / Share15.5915.8817.9815.794.966.47.297.47.548.33
Revenue Growth-11.39%18.72%6.46%-10.37%19.7%7.64%-6.06%-0.5%8.91%

CWK SEC Filings & Documents

Cushman & Wakefield plc (CWK) SEC filings — annual & quarterly reports (10-K, 10-Q)

8-K Announcements

6
Material company update

May 4, 2026·SEC

Material company update

Apr 8, 2026·SEC

Material company update

Feb 19, 2026·SEC

10-K Annual Reports

3
FY 2026

Feb 19, 2026·SEC

FY 2025

Feb 21, 2025·SEC

FY 2024

Feb 21, 2024·SEC

10-Q Quarterly Reports

6
FY 2025

Oct 30, 2025·SEC

FY 2025

Aug 5, 2025·SEC

FY 2025

Apr 29, 2025·SEC

CWK Frequently Asked Questions

Cushman & Wakefield plc (CWK) stock FAQ — growth, dividends, profitability & financials explained

Growth & Financials

Cushman & Wakefield plc (CWK) reported $10.29B in revenue for fiscal year 2025. This represents a 66% increase from $6.22B in 2016.

Cushman & Wakefield plc (CWK) grew revenue by 8.9% over the past year. This is steady growth.

Yes, Cushman & Wakefield plc (CWK) is profitable, generating $88.2M in net income for fiscal year 2025 (0.9% net margin).

Dividend & Returns

Cushman & Wakefield plc (CWK) has a return on equity (ROE) of 4.8%. This is below average, suggesting room for improvement.

Industry Metrics

Cushman & Wakefield plc (CWK) generated Funds From Operations (FFO) of $192.4M in the trailing twelve months. FFO is the primary profitability metric for REITs.

Explore More CWK

Cushman & Wakefield plc (CWK) financial analysis — history, returns, DCA and operating performance tools

Total Return Calculator

Historical returns with dividends reinvested

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DCA Calculator

Dollar cost averaging vs lump sum

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Dividend History

Yield, growth, payout safety & DRIP

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Earnings History

EPS trends, net income & profitability

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Price History

Long-term charts & historical price data

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Revenue History

Sales growth patterns & revenue breakdown

→

Financial Ratios

30 years of market, efficiency and balance-sheet ratios

→

Valuation

DCF intrinsic value, peer multiples & estimates

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