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Stocks · Real estate · Real Estate

Cushman & Wakefield Ltd.

CWK Clue Score26
Bermuda Fiscal year ends December CIK 0001628369
$11.62 -1.78% Close, 9 Oct 2026
Alert on the numbers Alert on insider trades
Price $11.62 −36.50% Close, 9 Oct 2026

Closing prices at the end of each trading day, from 2 Aug 2018. Not a live quote. Adjusted for share splits, so the line has no step at a split; dividends are not added back. P/E and P/FCF are the market value over the last full fiscal year's net income or free cash flow, as public on each day, so they step once a year when the annual report comes out. A hatched band marks a stretch with none: a year of net loss, or of cash burnt.

Revenue and profit

What the business sells, and what is left of it. Point at a year for the detail.
RevenueOperating incomeNet income
Fiscal year 2017Revenue6.92Operating income−0.17Net income−0.22EPS, diluted−1.54Fiscal year 2018Revenue8.22 +18.7%Operating income0.01Net income−0.19EPS, diluted−1.09Fiscal year 2019Revenue8.75 +6.5%Operating income0.19Net income0.00EPS, diluted0.00Fiscal year 2020Revenue7.84 −10.4%Operating income−0.05Net income−0.22 −110,350.0%EPS, diluted−1.00Fiscal year 2021Revenue9.39 +19.7%Operating income0.50Net income0.25EPS, diluted1.10Fiscal year 2022Revenue10.11 +7.6%Operating income0.54Net income0.20 −21.4%EPS, diluted0.86 −21.8%Fiscal year 2023Revenue9.49 −6.1%Operating income0.21Net income−0.04 −118.0%EPS, diluted−0.16 −118.6%Fiscal year 2024Revenue9.45 −0.5%Operating income0.34Net income0.13EPS, diluted0.56Fiscal year 2025Revenue10.29 +8.9%Operating income0.45Net income0.09 −32.8%EPS, diluted0.38 −32.1%
FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue 6.92 8.22 8.75 7.84 9.39 10.11 9.49 9.45 10.29
Growth +18.7% +6.5% −10.4% +19.7% +7.6% −6.1% −0.5% +8.9%
Operating income −0.17 0.01 0.19 −0.05 0.50 0.54 0.21 0.34 0.45
Net income −0.22 −0.19 0.00 −0.22 0.25 0.20 −0.04 0.13 0.09
Growth −110,350.0% −21.4% −118.0% −32.8%
EPS, diluted −1.54 −1.09 0.00 −1.00 1.10 0.86 −0.16 0.56 0.38
Growth −21.8% −118.6% −32.1%

Margins

How much of each dollar of revenue it keeps. Point at a year for the detail.
Operating marginNet margin
Fiscal year 2017Operating margin−2.5%Net margin−3.2%Free cash flow margin−1.8%Fiscal year 2018Operating margin0.2%Net margin−2.3%Free cash flow margin−1.1%Fiscal year 2019Operating margin2.1%Net margin0.0%Free cash flow margin2.2%Fiscal year 2020Operating margin−0.7%Net margin−2.8%Free cash flow margin−1.0%Fiscal year 2021Operating margin5.3%Net margin2.7%Free cash flow margin5.3%Fiscal year 2022Operating margin5.3%Net margin1.9%Free cash flow margin−0.0%Fiscal year 2023Operating margin2.2%Net margin−0.4%Free cash flow margin1.1%Fiscal year 2024Operating margin3.6%Net margin1.4%Free cash flow margin1.8%Fiscal year 2025Operating margin4.4%Net margin0.9%Free cash flow margin2.8%
FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Operating margin −2.5% 0.2% 2.1% −0.7% 5.3% 5.3% 2.2% 3.6% 4.4%
Net margin −3.2% −2.3% 0.0% −2.8% 2.7% 1.9% −0.4% 1.4% 0.9%
Free cash flow margin −1.8% −1.1% 2.2% −1.0% 5.3% −0.0% 1.1% 1.8% 2.8%

Cash flow

The cash the business makes, what it reinvests, and what it hands back. Point at a year for the detail.
Operating cash flowCapital expenditureFree cash flow
Fiscal year 2017Operating cash flow0.00Capital expenditure−0.13Free cash flow−0.12Fiscal year 2018Operating cash flow−0.00Capital expenditure−0.08Free cash flow−0.09Fiscal year 2019Operating cash flow0.27Capital expenditure−0.08Free cash flow0.19Fiscal year 2020Operating cash flow−0.04Capital expenditure−0.04Free cash flow−0.08 −141.9%Fiscal year 2021Operating cash flow0.55Capital expenditure−0.05Free cash flow0.50Fiscal year 2022Operating cash flow0.05Capital expenditure−0.05Free cash flow−0.00 −100.3%Fiscal year 2023Operating cash flow0.15Capital expenditure−0.05Free cash flow0.10Fiscal year 2024Operating cash flow0.21Capital expenditure−0.04Free cash flow0.17 +65.0%Fiscal year 2025Operating cash flow0.34Capital expenditure−0.05Free cash flow0.29 +75.4%
FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Operating cash flow 0.00 −0.00 0.27 −0.04 0.55 0.05 0.15 0.21 0.34
Capital expenditure −0.13 −0.08 −0.08 −0.04 −0.05 −0.05 −0.05 −0.04 −0.05
Free cash flow −0.12 −0.09 0.19 −0.08 0.50 −0.00 0.10 0.17 0.29
Growth −141.9% −100.3% +65.0% +75.4%

Balance sheet

What it holds against what it owes, at each year end. Point at a year for the detail.
CashTotal debt
Fiscal year 2017Cash0.41Total debt2.84Net cash (debt)−2.43Shareholders’ equity0.50Debt to equity5.68Fiscal year 2018Cash0.90Total debt2.68Net cash (debt)−1.79Shareholders’ equity1.36Debt to equity1.97Fiscal year 2019Cash0.81Total debt2.66Net cash (debt)−1.84Shareholders’ equity1.30Debt to equity2.04Fiscal year 2020Cash1.07Total debt3.27Net cash (debt)−2.20Shareholders’ equity1.09Debt to equity2.99Fiscal year 2021Cash0.77Total debt3.26Net cash (debt)−2.49Shareholders’ equity1.45Debt to equity2.25Fiscal year 2022Cash0.64Total debt3.26Net cash (debt)−2.61Shareholders’ equity1.66Debt to equity1.96Fiscal year 2023Cash0.77Total debt3.24Net cash (debt)−2.47Shareholders’ equity1.68Debt to equity1.93Fiscal year 2024Cash0.79Total debt3.04Net cash (debt)−2.24Shareholders’ equity1.75Debt to equity1.73Fiscal year 2025Cash0.78Total debt2.74Net cash (debt)−1.96Shareholders’ equity1.96Debt to equity1.40
FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Cash 0.41 0.90 0.81 1.07 0.77 0.64 0.77 0.79 0.78
Total debt 2.84 2.68 2.66 3.27 3.26 3.26 3.24 3.04 2.74
Net cash (debt) −2.43 −1.79 −1.84 −2.20 −2.49 −2.61 −2.47 −2.24 −1.96
Shareholders’ equity 0.50 1.36 1.30 1.09 1.45 1.66 1.68 1.75 1.96
Debt to equity 5.68 1.97 2.04 2.99 2.25 1.96 1.93 1.73 1.40

In billions of USD, except per-share figures and ratios. Fiscal years, as last filed with the SEC.

Financial statements FY2025 · 10-K

Income statement

In billions of USD, except per-share figures; shares in millions. Fiscal years ending December, each column as last filed with the SEC.
Click a line to chart it
Fiscal year FY2017 31 Dec 2017 FY2018 31 Dec 2018 FY2019 31 Dec 2019 FY2020 31 Dec 2020 FY2021 31 Dec 2021 FY2022 31 Dec 2022 FY2023 31 Dec 2023 FY2024 31 Dec 2024 FY2025 31 Dec 2025
Revenue and profit
6.92 8.22 8.75 7.84 9.39 10.11 9.49 9.45 10.29
Growth +18.7% +6.5% −10.4% +19.7% +7.6% −6.1% −0.5% +8.9%
1.16 1.27 1.28 1.12 1.23 1.26 1.26 1.22 1.32
−0.17 0.01 0.19 −0.05 0.50 0.54 0.21 0.34 0.45
Growth +1,386.5% −128.4% +7.7% −61.6% +64.8% +33.5%
−0.34 −0.21 0.04 −0.18 0.34 0.34 −0.03 0.18 0.11
−0.12 −0.03 0.04 0.04 0.09 0.14 0.01 0.04 0.03
−0.22 −0.19 0.00 −0.22 0.25 0.20 −0.04 0.13 0.09
Growth −110,350.0% −21.4% −118.0% −32.8%
Per share
−1.54 −1.09 0.00 −1.00 1.12 0.87 −0.16 0.57 0.38
−1.54 −1.09 0.00 −1.00 1.10 0.86 −0.16 0.56 0.38
Growth −21.8% −118.6% −32.1%
143.9 171.2 217.7 220.8 223.0 225.4 226.9 228.9 231.2
143.9 171.2 224.5 220.8 226.5 228.0 226.9 232.8 234.7
Growth +19.0% +31.1% −1.6% +2.6% +0.7% −0.5% +2.6% +0.8%

Five years in brief

Worked out from the figures above, not from a press release
  • Revenue grew 5.6% a year over five years.
  • The diluted share count rose 6.3% in five years, which is dilution.
  • Operating margin is up 5.1 points on five years ago, at 4.4%.
  • A net loss in 4 of 9 years on file.