Cushman & Wakefield Limited CWK R2K

Real Estate · Real Estate Services · United States

https://www.cushmanwakefield.com

Cushman & Wakefield Limited, together with its subsidiaries, provides commercial real estate services under the Cushman & Wakefield brand in the Americas, Europe, Middle East, Africa, and Asia Pacific. 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, tenant experience, residential property management, and sustainability services; self-performed facilities services, which include janitorial, maintenance, environment management, landscaping, and office services; project management sustainability and workplace consulting services. The company also provides owner representation and tenant representation leasing services; 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. It serves real estate owners and occupiers, such as tenants, investors, and multinational companies. The company was founded in 1784 and is headquartered in Chicago, Illinois.

Market & Price

Market Cap

$2.91B

Current Price

$12.44

High / Low (52W)

$17.20 / $9.93

Beta

1.50

Valuation

Stock P/E

38.88

Industry PE

26.58

Forward P/E

7.34

PEG Ratio

0.24

Book Value

$8.44

Price to Book

1.47

P/S

0.28

EV/EBITDA

9.56

Dividend Yield

Profitability & Returns

ROCE

6.50%

ROE

3.95%

ROA

3.86%

Profit Margin

0.70%

Op Margin

2.31%

EPS (Latest Qtr)

$-0.05

EPS (TTM)

$0.32

Balance Sheet & Liquidity

Debt/Equity

1.60

Quick Ratio

1.03

Current Ratio

1.13

Debt

$3.12B

Total Assets

$7.68B

Current Assets

$2.84B

Working Capital

$251.30M

Ownership

Promoter Holding

0.75%

Chg in Prom Hold

FII / Inst Holding

93.50%

Chg in FII Hold

-0.00%

Financial Snapshot

Enterprise Value

$5.43B

Total Revenue (TTM)

$10.54B

EBITDA

$568.20M

Free Cash Flow

$397.18M

Operating Cash Flow

$258.90M

Shares Outstanding

234.30M

Gross Margin

18.18%

Payout Ratio

0.00%

Growth (CAGR)

Revenue 5Y

0.60%

Profit 5Y

-23.42%

Revenue (YoY)

11.00%

Earnings (YoY)

PROS

Generates positive free cash flow.

CONS

Earnings shrank at -23.4% CAGR over 5 years.
Trading 27.7% below its 52-week high.
In a downtrend (50-DMA below 200-DMA).

* The pros and cons are auto-generated from financial metrics.

Price Chart

Robinhood TradingView StockAnalysis

Fundamental Growth

Period: Metric:

Figures from the latest reported periods. CAGR is computed across the displayed window (quarterly CAGR is annualised assuming 4 quarters per year).

Peer comparison

Peer companies in the same sector (Real Estate).

#	Name	CMP $	P/E	Mkt Cap	Div Yld %	ROCE %	ROE %	Rev CAGR 5Y %	Profit CAGR 5Y %
1	CWK Cushman & Wakefield Limited R2K	12.44	38.88	$2.91B	-	6.50%	3.95%	0.60%	-23.42%
2	WELL Welltower Inc. SPX	205.33	99.19	$144.95B	1.44%	0.26%	3.67%	22.69%	87.90%
3	PLD Prologis, Inc. SPX	143.47	36.14	$133.76B	2.98%	4.94%	6.84%	13.74%	-0.36%
4	EQIX Equinix, Inc. SPX	1,068.04	74.07	$105.33B	1.84%	5.61%	10.06%	8.27%	24.18%
5	AMT American Tower Corporation SPX	186.96	30.11	$87.10B	3.73%	7.82%	29.95%	3.34%	12.73%
6	SPG Simon Property Group, Inc. SPX	204.91	14.25	$77.86B	4.29%	17.44%	113.59%	6.35%	29.32%
7	DLR Digital Realty Trust, Inc. SPX	190.00	50.53	$67.96B	2.57%	3.99%	5.69%	9.22%	51.32%
8	O Realty Income Corporation SPX	61.28	50.23	$57.14B	5.30%	3.27%	2.83%	19.80%	6.78%
9	PSA Public Storage SPX	303.69	31.34	$53.31B	3.95%	10.69%	20.18%	4.88%	-25.69%

Quarterly Results

Figures in USD.

Metric	Mar 2017	Jun 2017	Sep 2017	Dec 2017	Mar 2018	Jun 2018	Sep 2018	Dec 2018	Mar 2019	Jun 2019	Sep 2019	Dec 2019	Mar 2020	Jun 2020	Sep 2020	Dec 2020	Mar 2021	Jun 2021	Sep 2021	Mar 2022	Jun 2022	Sep 2022	Mar 2023	Jun 2023	Sep 2023	Mar 2024	Jun 2024	Sep 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026
Revenue	-	-	-	-	1.77B	1.97B	2.08B	2.40B	1.90B	2.12B	2.12B	2.61B	1.90B	1.74B	1.93B	2.27B	1.92B	2.25B	2.33B	2.33B	2.61B	2.52B	2.25B	2.41B	2.29B	2.18B	2.29B	-	2.28B	2.48B	2.61B	2.91B	2.54B
Cost of Revenue	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	1.90B	2.02B	2.15B	2.34B	2.12B
Gross Profit	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	384.30M	467.30M	453.90M	574.50M	420.70M
Operating Expenses	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	332.50M	344.50M	346.40M	398.00M	362.00M
Operating Income	-118.20M	-35.60M	-54.50M	37.20M	-81.90M	30.70M	20.60M	43.20M	-26.00M	53.20M	37.00M	-	-85.50M	-62.80M	-300.00K	-	-7.20M	124.50M	130.30M	135.30M	176.60M	112.10M	-18.30M	56.30M	57.60M	18.80M	70.40M	-	51.80M	122.80M	107.50M	176.50M	58.70M
EBITDA	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	105.70M	170.70M	154.50M	95.70M	87.10M
Interest Expense	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	52.30M	-	-	-	49.20M
Pretax Income	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	5.00M	76.20M	45.10M	-12.10M	-9.60M
Tax Provision	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	3.10M	18.90M	-6.30M	10.30M	3.00M
Net Income	-	-47.30M	-78.60M	-	-92.90M	-33.50M	-41.40M	-18.00M	-20.90M	6.30M	11.70M	3.10M	-55.10M	-100.80M	-37.30M	-27.30M	-17.20M	52.70M	68.70M	45.50M	97.20M	23.90M	-76.40M	5.10M	-33.90M	-28.80M	13.50M	-	1.90M	57.30M	51.40M	-22.40M	-12.60M
Diluted EPS	-0.82	-0.33	-0.55	0.14	-0.64	-0.23	-0.22	-0.09	-0.10	0.03	0.05	0.01	-0.25	-0.46	-0.17	-0.12	-0.08	0.23	0.30	0.20	0.43	0.11	-0.34	0.02	-0.15	-0.13	0.06	-	0.01	0.25	0.22	-0.10	-0.05

Profit & Loss (Annual)

Figures in USD.

Metric	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024	Dec 2025
Revenue	-	6.92B	8.22B	8.75B	7.84B	-	10.11B	9.49B	9.45B	10.29B
Cost of Revenue	-	-	-	-	-	-	8.15B	7.84B	7.72B	8.41B
Gross Profit	-	-	-	-	-	-	1.95B	1.65B	1.73B	1.88B
Operating Expenses	-	-	-	-	-	-	1.41B	1.41B	1.35B	1.42B
Operating Income	-295.40M	-171.10M	12.60M	187.30M	-53.10M	-	544.00M	243.70M	380.00M	458.60M
EBITDA	-	-	-	-	-	-	780.20M	494.50M	614.40M	521.10M
Interest Expense	-	-	-	-	-	-	193.10M	281.10M	229.90M	216.20M
Pretax Income	-	-	-	-	-	-	338.00M	-30.00M	175.80M	114.20M
Tax Provision	-	-	-	-	-	-	141.60M	5.40M	44.50M	26.00M
Net Income	-434.20M	-221.30M	-185.80M	200.00K	-220.50M	-	196.40M	-35.40M	131.30M	88.20M
Diluted EPS	-	-1.54	-1.09	0.00	-1.00	-	0.86	-0.16	0.56	0.38

Compounded Sales Growth

5 Years:	0.60%
1 Year:	11.00%

Compounded Profit Growth

5 Years:	-23.42%
1 Year:	-

Stock Price Performance

1 Year:	+24.03%
6 Months:	-25.82%
3 Months:	-7.23%
1 Month:	-10.82%

Balance Sheet (Annual)

Figures in USD.

Metric	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024	Dec 2025
Total Assets	-	-	5.79B	6.55B	7.16B	7.34B	-	7.95B	7.77B	7.55B	7.68B
Current Assets	-	-	-	-	-	-	-	2.77B	2.80B	2.69B	2.84B
Cash & Equivalents	530.40M	382.30M	405.60M	895.30M	813.20M	1.07B	-	644.50M	767.70M	793.30M	784.20M
Inventory	-	-	-	-	-	-	-	-	-	-	-
Receivables	-	-	-	-	-	-	-	1.46B	1.47B	1.35B	1.52B
Total Liabilities	-	-	5.29B	5.19B	5.86B	6.24B	-	6.29B	6.10B	5.79B	5.72B
Current Liabilities	-	-	1.97B	2.04B	2.32B	2.07B	-	2.39B	2.40B	2.33B	2.59B
Long Term Debt	-	-	2.78B	2.64B	2.62B	3.24B	-	3.21B	3.10B	2.94B	2.62B
Total Debt	-	-	-	-	-	-	-	3.60B	3.57B	3.31B	3.00B
Total Equity	1.03B	585.50M	499.40M	1.36B	1.30B	1.09B	-	1.66B	1.68B	1.75B	1.96B
Shares Outstanding	-	-	-	-	-	-	-	225.78M	227.28M	229.70M	231.70M

Cash Flows (Annual)

Figures in USD.

Metric	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024	Dec 2025
Operating Cash Flow	-335.10M	4.40M	-2.20M	269.30M	-38.20M	-	49.10M	152.20M	208.00M	340.40M
Investing Cash Flow	-137.70M	-143.20M	-218.00M	-274.90M	-257.80M	-	-120.70M	48.90M	81.20M	-21.10M
Financing Cash Flow	356.50M	167.70M	725.90M	-89.60M	571.90M	-	-79.30M	-120.80M	-253.40M	-350.50M
Capital Expenditure	-77.30M	-129.10M	-84.20M	-80.30M	-41.00M	-	-50.70M	-51.00M	-41.00M	-47.40M
Free Cash Flow	-412.40M	-124.70M	-86.40M	189.00M	-79.20M	-	-1.60M	101.20M	167.00M	293.00M
Net Change in Cash	-	-	-	-	-	-	-150.90M	80.30M	35.80M	-31.20M

Ratios (Annual)

Figures in %.

Metric	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024	Dec 2025
Gross Margin %	-	-	-	-	-	-	19.3%	17.4%	18.3%	18.3%
Operating Margin %	-	-2.5%	0.2%	2.1%	-0.7%	-	5.4%	2.6%	4.0%	4.5%
Net Margin %	-	-3.2%	-2.3%	0.0%	-2.8%	-	1.9%	-0.4%	1.4%	0.9%
ROE %	-74.2%	-44.3%	-13.7%	0.0%	-20.1%	-	11.8%	-2.1%	7.5%	4.5%
ROCE %	-	-4.5%	0.3%	3.9%	-1.0%	-	9.8%	4.5%	7.3%	9.0%

Shareholding Pattern

Insiders

0.75%

Institutions

93.50%

Public Float

94.20%

Top Institutional Holders

#	Holder	% Held	Shares	Value
1	Vanguard Portfolio Management LLC	10.40%	24.37M	$303.12M
2	Blackrock Inc.	9.68%	22.68M	$282.13M
3	Dimensional Fund Advisors LP	5.65%	13.25M	$164.82M
4	Vanguard Capital Management LLC	4.43%	10.39M	$129.23M
5	State Street Corporation	3.90%	9.13M	$113.61M
6	Vaughan Nelson Investment Management, L.P.	3.86%	9.05M	$112.56M
7	FMR, LLC	3.58%	8.38M	$104.28M
8	JPMORGAN CHASE & CO	2.67%	6.25M	$77.81M
9	Geode Capital Management, LLC	2.63%	6.17M	$76.73M
10	Channing Capital Management, LLC	2.33%	5.46M	$67.93M

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CWK · Real Estate