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Cushman & Wakefield PLC

CWK Real Estate Real Estate Services

Cushman & Wakefield PLC’s revenue for fiscal 2025 (year ended December 2025) was $10.3 billion, up 8.91% from fiscal 2024. In the quarter to June 2026, revenue grew 11.2%, EPS fell 12.0%, free cash flow grew 15,066.7% and total debt fell 11.3%, each against the same quarter a year earlier. Operating cash flow growth for three consecutive years.

11.30 0.31 −2.67%
Market cap
$2.7B
P/E
39.0×
Fwd P/E
11.1×
Dividend yield
—
F-score
5/9
Altman Z
n/a
Beneish M
n/a
Dividend safety
n/a
Overview Business Profile Financial Analysis Income Statement Balance Sheet Cash Flow Metrics & Ratios 10-Q 10-K

Insider Decisions trades per month

Total sells 0.99
Totals in millions of $.
Dec 25 Mar 26 Jun 26 Sep 26
Buy — — — — — — — — — — — —
Sell — — — — 1 — 1 1 — 1 1 —
Insider Ownership 0.70%

Capital & Financial Ratios $m

Market Cap 2,730.00
Revenue 10,818.10
Net Income 69.10
Free Cash Flow 249.10
Net Debt 2,157.70
Current Ratio 1.08
Debt/Equity 1.31
P/E ratio 38.97 (above 35: high)
Fwd P/E 11.10
P/S ratio 0.24
P/B ratio 1.31
Past 5Y EPS Growth —
This Y EPS Growth 325.53% (at or above 15%: strong)
Next Y EPS Growth 16.19% (at or above 15%: strong)
Next Y revenue growth 8.69%
Next 5Y EPS Growth 78.96% (at or above 15%: strong)

Green and red mark values outside typical ranges. How we judge →

Valuation vs history

EV/Sales, ten years
EV/Sales is 0.4×, against a ten-year median of 0.6×; over the ten years it ranged from 0.4× in 2026 to 0.8× in 2021.
P/E against its own 10 years 66.73%
10-year low 10-year high
P/S against its own 10 years 15.22%
10-year low 10-year high
P/B against its own 10 years 8.34%
10-year low 10-year high
EV/Sales against its own 10 years 0.78%
10-year low 10-year high
EV/FCF against its own 10 years 12.55%
10-year low 10-year high

Dividends

Payout Ratio —
Annual Dividend Rate —
Annual Dividend Yield —
total individual payouts
2027 Powerpack
2026 Powerpack
2025 Powerpack
2024 Powerpack
2023 Powerpack
2022 Powerpack
2021 0.71
0.51
0.20
2020 0.62
0.44
0.19
2019 0.57
0.40
0.17
2018 0.55
0.39
0.16
2017 0.46
0.31
0.15
2016 0.39
0.26
0.13
predictions special payouts not included in total or ratios

Assets vs Liabilities $m

2023 2024 2025 Q'26
Cash 768 793 784 501
Receivables 1,535 1,415 1,568 1,533
Inventory — — — —
Other 311 301 301 343
2,803 2,690 2,843 2,627
2023 2024 2025 Q'26
Payables 1,158 1,111 1,225 1,154
ST’ Debt 150 103 125 243
Other 218 196 191 152
2,397 2,330 2,592 2,437

Compound Annual Growth %

10y 5y 3y
Sales 9.39% 5.58% 0.60%
Cash Flow 0.00% 0.00% 90.68%
Earnings 0.00% 0.00% (23.42%)
Book Value 0.00% 12.29% 5.57%

Revenue $m

Mar Jun Sep Dec Year
’26 2,536 2,763 — — —
’25 2,285 2,484 2,606 2,914 10,288
’24 2,185 2,288 2,344 2,630 9,447
’23 2,249 2,406 2,286 2,552 9,494
’22 2,331 2,613 2,515 2,647 10,106
’21 1,924 2,248 2,333 2,884 9,389
’20 1,895 1,744 1,932 2,273 7,844
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

Mar Jun Sep Dec Year
’26 (243) 54 — — —
’25 (162) 10 236 257 340
’24 (125) 22 196 115 208
’23 (221) (17) 188 202 152
’22 (158) (88) 52 244 49
’21 (16) 103 163 299 550
’20 (250) (50) 77 184 (38)
Fiscal quarters ending in the months shown.

Free Cash Flow $m

Mar Jun Sep Dec Year
’26 (256) 46 — — —
’25 (167) 0 225 234 293
’24 (136) 10 187 106 167
’23 (231) (27) 174 186 101
’22 (177) (100) 38 237 (2)
’21 (29) 95 153 277 496
’20 (260) (58) 68 170 (79)
Fiscal quarters ending in the months shown.

EPS $

Mar Jun Sep Dec Year
’26 (0.05) 0.22 — — —
’25 0.01 0.25 0.22 (0.10) 0.38
’24 (0.13) 0.06 0.14 0.48 0.56
’23 (0.34) 0.02 (0.15) 0.30 (0.16)
’22 0.20 0.43 0.11 0.13 0.86
’21 (0.08) 0.23 0.30 0.64 1.10
’20 (0.25) (0.46) (0.17) (0.12) (1.00)
Fiscal quarters ending in the months shown.

Target Price Range

Analyst price targets

Recommendation Rating

2
1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to December

Group Line 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 Trend 2026e 2027e 2028e
Price, $
Price, $ Low — — 13.25 13.60 6.84 13.89 10.04 6.24 9.24 7.64

Analyst estimates 2026–2028

Powerpack
High — — 19.45 20.80 20.65 22.77 23.54 15.63 16.11 17.33
People
People Employees — 48,000 51,000 53,000 50,000 50,000 52,000 52,000 52,000 53,000
Revenue/emp, $m 0.00 0.14 0.16 0.17 0.16 0.19 0.19 0.18 0.18 0.19
Income, $m
Income, $m Revenue 6,216 6,924 8,220 8,751 7,844 9,389 10,106 9,494 9,447 10,288
Gross margin, % 18.47 18.55 19.19 20.22 17.70 20.67 19.32 17.40 18.27 18.27
EBT (459) (342) (211) 43 (177) 340 338 (30) 176 114
EBT margin, % (7.38) (4.94) (2.56) 0.49 (2.25) 3.62 3.34 (0.32) 1.86 1.11
Net income (435) (221) (186) 0 (220) 250 196 (35) 131 88
Depreciation 273 287 303 419 392 286 259 251 216 199
Per share, $
Per share, $ Revenue 43.96 48.12 48.01 40.20 35.52 42.10 44.83 41.84 41.27 44.50
Earnings (3.07) (1.54) (1.09) 0.00 (1.00) 1.12 0.87 (0.16) 0.57 0.38
Cash flow (2.37) 0.03 (0.01) 1.24 (0.17) 2.46 0.22 0.67 0.91 1.47
Capex (0.55) (0.90) (0.49) (0.37) (0.19) (0.24) (0.22) (0.22) (0.18) (0.20)
Free cash flow (2.92) (0.87) (0.50) 0.87 (0.36) 2.22 (0.01) 0.45 0.73 1.27
Book value 4.17 3.47 7.94 5.98 4.96 6.50 7.37 7.40 7.67 8.46
Shares, m 141 144 171 218 221 223 225 227 229 231
Valuation, ×
Valuation, × P/E 0.00 0.00 0.00 0.00 0.00 19.86 14.74 0.00 22.95 42.61
P/S 0.36 0.36 0.30 0.51 0.42 0.53 0.29 0.26 0.32 0.36
P/B 5.89 5.89 1.82 3.42 2.99 3.42 1.74 1.45 1.71 1.91
EV/Sales 0.73 0.73 0.52 0.72 0.70 0.79 0.54 0.52 0.56 0.55
EV/FCF (165.77) (165.77) (49.38) 33.31 (69.13) 15.03 (3,441.64) 48.46 31.40 19.48
Cash, $m
Cash, $m Operating cash flow (335) 4 (2) 269 (38) 550 49 152 208 340
Capex (77) (129) (84) (80) (41) (54) (51) (51) (41) (47)
Free cash flow (412) (125) (86) 189 (79) 496 (2) 101 167 293
Balance, $m
Balance, $m Working capital 216 (55) 705 538 825 396 376 406 361 251
Total debt 2,660 2,844 2,684 2,660 3,275 3,263 3,262 3,247 3,043 2,750
Net debt 2,278 2,438 1,789 1,846 2,201 2,492 2,617 2,479 2,250 1,966
Shareholders’ equity 590 499 1,360 1,301 1,096 1,449 1,662 1,678 1,755 1,956
Returns, %
Returns, % ROA (15.28) (3.86) (3.01) 0.00 (3.04) 3.28 2.48 (0.45) 1.71 1.16
ROIC (6.44) (3.64) 0.25 3.72 (1.01) 7.88 7.82 3.09 5.29 7.21
ROE (79.74) (40.63) (19.98) 0.02 (18.40) 19.65 12.63 (2.12) 7.65 4.75
Negative figures in brackets.

All 10 years →

Fiscal years to Dec 2025 · latest quarter Jun 2026

Charts ten years each

Cushman & Wakefield PLC vs peers in Real Estate Services (Q) = latest quarter vs a year earlier

Company Market cap P/E Fwd P/E Revenue growth (Q) EPS growth (Q) FCF growth (Q) Gross margin (Q) EBIT margin (Q) Compare
FSV FirstService Corporation $6.2B 38.3× 34.9× +2.37% (above 0%: growing) −0.99% (below 0%: shrinking) −23.87% (below 0%: shrinking) 33.17% 6.88% Compare
CIGI Colliers International Group Inc. $4.6B 42.6× 49.4× +16.68% (above 0%: growing) +600.00% (above 0%: growing) +285.13% (above 0%: growing) 40.39% 6.26% Compare
IHS IHS Holding Limited $2.9B 20.1× 7.6× +10.41% (above 0%: growing) n/m −41.30% (below 0%: shrinking) 48.32% 19.32% Compare
CWK Cushman & Wakefield PLC $2.7B 39.0× 11.1× +11.22% (above 0%: growing) −12.00% (below 0%: shrinking) +15,066.67% (above 0%: growing) 18.53% 4.86%
OPEN Opendoor Technologies Inc. $2.3B — (loss-making) — (loss-making) −43.65% (below 0%: shrinking) n/m −188.06% (below 0%: shrinking) 9.74% (16.31%) Compare
NMRK Newmark Group, Inc. $2.2B 14.3× 15.4× +17.03% (above 0%: growing) −8.33% (below 0%: shrinking) +188.46% (above 0%: growing) 100.00% 4.55% Compare
IRS IRSA Inversiones Y Representaciones S.A. $1.2B 3.7× — +6.47% (above 0%: growing) n/m −60.83% (below 0%: shrinking) 63.23% (78.13%) Compare
HBNB Hotel101 Global Holdings Corp. $1.1B — — — — — — — Compare
MMI Marcus & Millichap, Inc. $1.1B 76.6× 83.6× +17.78% (above 0%: growing) n/m +10.09% (above 0%: growing) 37.58% 1.09% Compare
Median of peers $2.2B 29.2× 34.9× +10.41% −0.99% −23.87% 40.39% 4.55%

All 46 Real Estate Services stocks →

Cushman & Wakefield PLC (CWK) key facts

  • Strength: Cushman & Wakefield PLC’s revenue for fiscal 2025 (year ended December 2025) was $10.3 billion, up 8.91% from fiscal 2024.
  • Cushman & Wakefield PLC (CWK) is a Real Estate Services company in the Real Estate sector, listed on the New York Stock Exchange.
  • As of October 16, 2026, CWK traded at $11.30, a market capitalization of $2.7 billion.
  • Return on equity was 4.75% and debt-to-equity 1.31.
  • Its Piotroski F-score is 5 out of 9 for fiscal 2025.

Source: company filings (standardised) and stockrow calculations.

Cushman & Wakefield PLC (CWK) Latest News

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stockrow.com/CWK · Data as of Jun 30, 2026 · For information only; not investment advice. · © 2026 stockrow.com