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Cushman & Wakefield plc (CWK) 10-Year Financial Performance & Capital Metrics

CWK • • REIT / Real Estate
Real EstateReal Estate ServicesCommercial Real Estate ServicesGlobal Commercial Services
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 $9.45B -0.5%
  • FFO $254M +21.9%
  • FFO/Share 1.09 +18.8%
  • FFO Payout 0%
  • FFO per Share 1.09 +18.8%
  • NOI Margin 18.27% +5.0%
  • FFO Margin 2.68% +22.5%
  • ROE 7.65% +460.8%
  • ROA 1.71% +480.6%
  • Debt/Assets 43.89% -4.3%
  • Net Debt/EBITDA 5.46 -12.3%
  • Book Value/Share 7.54 +2.0%
Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

  • ✓Strong 5Y profit CAGR of 266.0%
  • ✓Strong Piotroski F-Score: 7/9
  • ✓FFO growing 38.5% TTM
  • ✓Trading near 52-week high

✗Weaknesses

  • ✗Low NOI margin of 18.3%

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

Price & Volume

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Growth Metrics

Revenue CAGR

10Y-
5Y1.54%
3Y0.2%
TTM6.77%

Profit (Net Income) CAGR

10Y-
5Y265.97%
3Y-19.32%
TTM153.4%

EPS CAGR

10Y-
5Y262.07%
3Y-20.15%
TTM160.17%

ROCE

10Y Avg2.31%
5Y Avg5.62%
3Y Avg6.62%
Latest6.4%

Peer Comparison

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Sector-Specific
NameMarket CapCurrent PriceP/E RatioRevenue Growth 1YNet MarginROEFCF YieldDebt/Equity
CBRECBRE Group, Inc.50.84B170.8354.4011.95%3.12%13.21%2.93%0.62
NMRKNewmark Group, Inc.2.79B17.5251.5310.85%3.28%6.4%1.33
CIGIColliers International Group Inc.7.32B147.4945.8011.23%2.15%4.31%3.57%0.83
JLLJones Lang LaSalle Incorporated16.71B354.0131.3312.87%2.49%8.66%3.59%0.43
CWKCushman & Wakefield plc3.95B17.0730.48-0.5%2.23%11.41%4.22%1.89

Profit & Loss

Dec 2016Dec 2017Dec 2018Dec 2019Dec 2020Dec 2021Dec 2022Dec 2023Dec 2024
Revenue+6.22B6.92B8.22B8.75B7.84B9.39B10.11B9.49B9.45B
Revenue Growth %-0.11%0.19%0.06%-0.1%0.2%0.08%-0.06%-0%
Property Operating Expenses5.07B5.64B6.64B6.98B6.46B7.45B8.15B7.84B7.72B
Net Operating Income (NOI)+---------
NOI Margin %---------
Operating Expenses+1.41B1.43B1.56B1.58B1.44B1.44B1.42B1.45B1.39B
G&A Expenses1.15B1.16B1.27B1.28B1.12B1.23B1.26B1.26B1.22B
EBITDA+6.2B6.9B8.22B601.9M328.7M773.3M784.2M449M461.1M
EBITDA Margin %---------
Depreciation & Amortization+6.49B7.07B8.21B414.6M381.8M276.3M249.1M243.4M122.2M
D&A / Revenue %---------
Operating Income+-295.4M-170.2M12.6M187.3M-53.1M497M535.1M205.6M338.9M
Operating Margin %---------
Interest Expense+171.8M183.1M228.8M150.6M0179.5M193.1M281.1M229.9M
Interest Coverage-1.72x-0.93x0.06x1.24x-2.77x2.77x0.73x1.47x
Non-Operating Income-32.1M-28.5M-1.5M-7.7M-57.1M-22.4M4M-45.5M-49.6M
Pretax Income+-458.9M-340.9M-210.8M42.8M-176.6M339.9M338M-30M175.8M
Pretax Margin %---------
Income Tax+-24.3M-120.4M-25M42.6M43.9M89.9M141.6M5.4M44.5M
Effective Tax Rate %---------
Net Income+-434.2M-220.5M-185.8M200K-220.5M250M196.4M-35.4M131.3M
Net Margin %---------
Net Income Growth %-0.49%0.16%1%-1103.5%2.13%-0.21%-1.18%4.71%
Funds From Operations (FFO)+---------
FFO Margin %---------
FFO Growth %-0.13%0.17%-0.95%-0.61%2.26%-0.15%-0.53%0.22%
FFO per Share+---------
FFO Payout Ratio %---------
EPS (Diluted)+-2.40-1.22-1.090.00-1.001.100.86-0.160.56
EPS Growth %-0.49%0.11%1%-2.1%-0.22%-1.19%4.5%
EPS (Basic)-2.40-1.22-1.090.00-1.001.120.87-0.160.57
Diluted Shares Outstanding181.27M181.27M171.2M224.5M220.8M226.5M228M226.9M232.8M

Balance Sheet

Dec 2016Dec 2017Dec 2018Dec 2019Dec 2020Dec 2021Dec 2022Dec 2023Dec 2024
Total Assets+5.68B5.8B6.55B7.16B7.34B7.89B7.95B7.77B7.55B
Asset Growth %-0.02%0.13%0.09%0.02%0.08%0.01%-0.02%-0.03%
Real Estate & Other Assets+417M432.8M489.5M685.7M533.6M741.1M976M805.8M927.6M
PP&E (Net)245.7M304.3M313.8M490.7M674.1M592.4M527.7M502.8M426.1M
Investment Securities1000K1000K1000K1000K1000K1000K1000K1000K1000K
Total Current Assets+1.84B1.91B2.74B2.86B2.89B2.83B2.77B2.8B2.69B
Cash & Equivalents382.3M405.6M895.3M813.2M1.07B770.7M644.5M767.7M793.3M
Receivables1000K1000K1000K1000K1000K1000K1000K1000K1000K
Other Current Assets000131.5M169.7M0246.3M189.4M544.7M
Intangible Assets1.42B1.31B1.13B1.06B991.2M937.9M877.4M805.9M690.1M
Total Liabilities5.09B5.29B5.19B5.86B6.24B6.44B6.29B6.1B5.79B
Total Debt+2.66B2.84B2.68B3.12B3.96B3.66B3.6B3.57B3.31B
Net Debt2.28B2.44B1.79B2.3B2.88B2.89B2.95B2.8B2.52B
Long-Term Debt2.62B2.78B2.64B2.62B3.39B3.22B3.21B3.1B2.92B
Short-Term Borrowings1000K1000K1000K1000K1000K1000K1000K1000K1000K
Capital Lease Obligations015.3M19.5M457.1M539.1M394.6M334.6M319.6M270.3M
Total Current Liabilities+1.62B1.97B2.04B2.32B2.07B2.43B2.39B2.4B2.33B
Accounts Payable636.9M724.8M980.9M1.15B1.01B1.11B1.2B1.16B1.11B
Deferred Revenue804.2M900.5M43.2M948.4M00000
Other Liabilities440.9M386.9M347.1M352.1M371.6M343.5M293.3M268.6M241.4M
Total Equity+2.83B2.88B3.08B3.55B1.1B1.45B1.66B1.68B1.76B
Equity Growth %-0.02%0.07%0.15%-0.69%0.32%0.15%0.01%0.05%
Shareholders Equity590M503.9M1.36B1.3B1.09B1.45B1.66B1.68B1.75B
Minority Interest2.24B2.38B1.72B2.24B900K800K800K600K500K
Common Stock1.43B1.45B21.7M22M22.2M22.4M22.6M22.7M23M
Additional Paid-in Capital252.4M283.8M2.79B2.82B2.84B2.9B2.91B2.96B2.99B
Retained Earnings-944.7M-1.17B-1.3B-1.3B-1.53B-1.28B-1.08B-1.12B-985.9M
Preferred Stock000000000
Return on Assets (ROA)-0.08%-0.04%-0.03%0%-0.03%0.03%0.02%-0%0.02%
Return on Equity (ROE)-0.15%-0.08%-0.06%0%-0.1%0.2%0.13%-0.02%0.08%
Debt / Assets0.47%0.49%0.41%0.44%0.54%0.46%0.45%0.46%0.44%
Debt / Equity0.94x0.99x0.87x0.88x3.61x2.52x2.16x2.13x1.89x
Net Debt / EBITDA0.37x0.35x0.22x3.83x8.78x3.73x3.76x6.23x5.46x
Book Value per Share15.5915.8817.9815.794.966.407.297.407.54

Cash Flow

Dec 2016Dec 2017Dec 2018Dec 2019Dec 2020Dec 2021Dec 2022Dec 2023Dec 2024
Cash from Operations+-335.1M4.4M-2.2M269.3M-38.2M549.5M49.1M152.2M208M
Operating CF Growth %-1.01%-1.5%123.41%-1.14%15.38%-0.91%2.1%0.37%
Operating CF / Revenue %---------
Net Income-434.6M-220.5M-185.8M200K-220.5M250M196.4M-35.4M131.3M
Depreciation & Amortization260.6M270.6M290M414.6M381.8M276.3M249.1M243.4M122.2M
Stock-Based Compensation49M51.4M81.9M61.3M42M58.2M40.3M54.1M35.6M
Other Non-Cash Items13.9M10.1M92.1M18.7M-9M57.1M87.5M65M85.6M
Working Capital Changes-163.9M62.9M-221.5M-175.7M-250.3M-35.8M-538.8M-124.5M-138.6M
Cash from Investing+-137.7M-143.2M-218M-274.9M-257.8M-749.5M-120.7M48.9M81.2M
Acquisitions (Net)-64.2M-99.9M-35.5M-275.9M-108.7M-7M-32.8M00
Purchase of Investments00-8.7M-4.5M-14.6M-688.9M-26.4M-6.9M-1.7M
Sale of Investments000000000
Other Investing3.8M85.8M-89.6M85.8M-93.5M200K-10.8M106.8M82.9M
Cash from Financing+356.5M167.7M725.9M-89.6M571.9M-65.8M-79.3M-120.8M-253.4M
Dividends Paid000000000
Common Dividends000000000
Debt Issuance (Net)1000K1000K-1000K-1000K1000K-1000K-1000K-1000K-1000K
Share Repurchases-2.9M-4.5M-15.2M-31.8M-18.9M-8.6M-27.2M-8.1M-10.4M
Other Financing0-10.5M-71.3M-19.3M-25.2M-17.1M-8.1M-78.5M-14.4M
Net Change in Cash+-123.1M43.1M497.5M-93.1M291.8M-273.8M-171.3M82.2M13.4M
Exchange Rate Effect-1000K1000K-1000K1000K1000K-1000K-1000K1000K-1000K
Cash at Beginning547.9M424.8M467.9M965.4M872.3M1.16B890.3M719M801.2M
Cash at End424.8M467.9M965.4M872.3M1.16B890.3M719M801.2M814.6M
Free Cash Flow+-412.4M-124.7M-86.4M189M-79.2M495.7M-1.6M101.2M167M
FCF Growth %-0.7%0.31%3.19%-1.42%7.26%-1%64.25%0.65%
FCF / Revenue %---------

Key Ratios

Metric201620172018201920202021202220232024
FFO per Share33.4337.8146.851.850.732.321.950.921.09
FFO Payout Ratio0%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%
Net Debt / EBITDA0.37x0.35x0.22x3.83x8.78x3.73x3.76x6.23x5.46x
Debt / Assets46.82%49.04%41%43.51%53.96%46.35%45.24%45.87%43.89%
Interest Coverage-1.72x-0.93x0.06x1.24x-2.77x2.77x0.73x1.47x
Book Value / Share15.5915.8817.9815.794.966.47.297.47.54
Revenue Growth-11.39%18.72%6.46%-10.37%19.7%7.64%-6.06%-0.5%

Revenue by Geography

2018201920202021202220232024
Americas-----7.13B7B
Americas Growth-------1.84%
Asia Pacific-----1.39B1.5B
Asia Pacific Growth------7.50%
Europe, The Middle East And Africa-----973.7M953.2M
Europe, The Middle East And Africa Growth-------2.11%
UNITED STATES5.4B5.86B5.42B6.77B7.45B--
UNITED STATES Growth-8.47%-7.47%24.84%9.99%--
All Countries Excluding United States, Australia, United Kingdom1.8B1.94B1.64B1.74B1.85B--
All Countries Excluding United States, Australia, United Kingdom Growth-7.54%-15.31%6.35%5.78%--
AUSTRALIA589.5M556.6M456.4M452.8M447.8M--
AUSTRALIA Growth--5.58%-18.00%-0.79%-1.10%--

Frequently Asked Questions

Valuation & Price

Cushman & Wakefield plc (CWK) has a price-to-earnings (P/E) ratio of 30.5x. This suggests investors expect higher future growth.

Growth & Financials

Cushman & Wakefield plc (CWK) reported $10.00B in revenue for fiscal year 2024. This represents a 61% increase from $6.22B in 2016.

Cushman & Wakefield plc (CWK) saw revenue decline by 0.5% over the past year.

Yes, Cushman & Wakefield plc (CWK) is profitable, generating $223.5M in net income for fiscal year 2024 (1.4% net margin).

Dividend & Returns

Cushman & Wakefield plc (CWK) has a return on equity (ROE) of 7.6%. This is below average, suggesting room for improvement.

Industry Metrics

Cushman & Wakefield plc (CWK) generated Funds From Operations (FFO) of $331.8M in the trailing twelve months. FFO is the primary profitability metric for REITs.

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