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CWK

Cushman & Wakefield plc

CWK

Cushman & Wakefield plc • NYSE
$16.75 ▼ -0.71% (-0.12)
Market Cap $3.88 B
52w High $17.33
52w Low $7.64
Dividend Yield 0%
P/E 17.63
Volume 645.88K
Outstanding Shares 231.60M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $2.606B ▲ $320.6M ▲ $51.4M ▼ 1.972% ▼ $0.22 ▼ $126.9M ▼
Q2-2025 $2.484B ▲ $318.3M ▼ $57.3M ▲ 2.307% ▲ $0.25 ▲ $148.3M ▲
Q1-2025 $2.285B ▼ $339M ▼ $1.9M ▼ 0.083% ▼ $0.008 ▼ $78.5M ▼
Q4-2024 $2.63B ▲ $353.9M ▼ $112.9M ▲ 4.294% ▲ $0.49 ▲ $215.5M ▲
Q3-2024 $2.344B $357.2M $33.7M 1.438% $0.15 $118.2M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $634.4M ▲ $7.691B ▲ $5.733B ▲ $1.958B ▲
Q2-2025 $618.2M ▼ $7.555B ▲ $5.651B ▲ $1.903B ▲
Q1-2025 $623.2M ▼ $7.407B ▼ $5.631B ▼ $1.776B ▲
Q4-2024 $793.3M ▲ $7.549B ▲ $5.794B ▼ $1.755B ▲
Q3-2024 $775.4M $7.534B $5.831B $1.702B

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $51.4M ▼ $235.5M ▲ $-60.1M ▼ $-155.5M ▼ $14.8M ▲ $225M ▲
Q2-2025 $57.3M ▲ $9.6M ▲ $10.5M ▼ $-36.3M ▲ $5.8M ▲ $14.2M ▲
Q1-2025 $1.9M ▼ $-162M ▼ $20.6M ▲ $-41.3M ▲ $-174.4M ▼ $-166.6M ▼
Q4-2024 $112.9M ▲ $115.2M ▼ $-33.1M ▼ $-55.9M ▲ $1.7M ▼ $105.9M ▼
Q3-2024 $33.7M $196.1M $57.4M $-57M $208M $186.7M

Five-Year Company Overview

Income Statement

Income Statement Cushman & Wakefield’s revenue has been broadly flat in recent years after peaking a couple of years ago, which reflects a softer, more cautious commercial real estate market. Profitability is positive but not robust: margins are relatively thin, and earnings have bounced around between small losses and modest profits. The pattern shows that the company can stay in the black in a tougher environment, but its earnings are quite sensitive to market conditions and deal activity, especially in capital markets and leasing.

Balance Sheet

Balance Sheet The balance sheet shows a business with sizable assets and a meaningful debt load. Debt has stayed relatively high but is slowly edging down, while shareholders’ equity has been building over time, which modestly strengthens the capital base. Cash on hand is solid but not abundant relative to debt, so the company does have leverage risk if conditions in commercial real estate worsen, though the gradual improvement in equity is a positive sign.

Cash Flow

Cash Flow Cash generation is generally positive but uneven. The company produces cash from operations most years, with a standout year followed by more modest, but improving, cash flows recently. Capital spending is quite low and stable, which means most operating cash can fall through to free cash flow. Overall, the business appears capable of funding itself and reducing risk over time, but cash flows are not yet consistently strong, again reflecting the cyclical nature of its markets.

Competitive Edge

Competitive Edge Cushman & Wakefield is one of the major global players in commercial real estate services, alongside a small group of large competitors. Its strengths lie in its worldwide office network, broad menu of services, and long-established brand. This combination helps it win large, complex corporate and institutional clients and cross-sell multiple services. At the same time, the firm competes in a highly competitive, fee-driven industry that is heavily influenced by broader economic trends, interest rates, and investor sentiment toward real estate. Its ability to maintain margins and gain share in downturns is a key ongoing question.

Innovation and R&D

Innovation and R&D The company is leaning heavily into technology and analytics to differentiate itself. Its AI-enabled platforms, mapping and location-intelligence tools, virtual reality offerings, and emerging tech group are all aimed at giving clients faster, more data-rich decisions and improving internal efficiency. It is also building specialized advisory groups in areas like data centers, logistics, and high-growth tech tenants, and integrating sustainability and ESG analytics into its services. These moves suggest a push to move up the value chain from basic brokerage to higher-value, insight-driven advisory work.

Summary

Overall, Cushman & Wakefield looks like a scaled, globally relevant real estate services firm navigating a challenging and cyclical market. Revenues are steady rather than growing, margins are thin and somewhat volatile, and leverage remains an important consideration, even as equity and cash generation show gradual improvement. The firm’s main offsetting strength is its combination of global reach, full-service capabilities, and increasing emphasis on technology and specialized advisory services. The key swing factors going forward are the health of commercial real estate markets, the interest-rate environment, and how effectively the company can turn its tech and analytics investments into more stable, higher-quality earnings and cash flow over time.

NEWS

November 28, 2025 · 8:02 AM UTC

Cushman & Wakefield Completes Redomiciliation to Bermuda

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November 24, 2025 · 11:41 AM UTC

Cushman & Wakefield Expands Retail Expertise with Appointments of Jessica Gangoso and Kristen Pash

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November 18, 2025 · 10:00 AM UTC

Cushman & Wakefield and Greystone Close Sale and Financing of Multifamily Acquisition in Alabama

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November 11, 2025 · 11:00 AM UTC

Cushman & Wakefield Earns 2026 Military Friendly® Employer Designation, Expands Veteran Initiatives Nationwide

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October 30, 2025 · 7:00 AM UTC

Cushman & Wakefield Reports Financial Results for the Third Quarter 2025

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