Cushman & Wakefield plc (CWK)

NYSE Real Estate Real Estate Services S&P SmallCap 600

$13.96

-0.22 (-1.55%)

Close of Nov 06, 2026 · end-of-day data

Source: Cushman & Wakefield plc's 10-K / 10-Q XBRL data on SEC EDGAR · fetched Nov 05, 2026

Revenue, net income & free cash flow

Income statement

fiscal years · USD

Fiscal year	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Revenue	$6.22B	$6.92B	$8.22B	$8.75B	$7.84B	$9.39B	$10.11B	$9.49B	$9.45B	$10.29B
Cost of revenue	—	$5.64B	$6.64B	$6.98B	$6.46B	$7.45B	$8.15B	$7.84B	$7.72B	$8.41B
Gross profit	—	$1.28B	$1.58B	$1.77B	$1.39B	$1.94B	$1.95B	$1.65B	$1.73B	$1.88B
Selling, general & admin	$1.15B	$1.16B	$1.27B	$1.28B	$1.12B	$1.23B	$1.26B	$1.26B	$1.22B	$1.32B
Operating income	-$295.40M	-$171.10M	$12.60M	$187.30M	-$53.10M	$497.00M	$535.10M	$205.60M	$338.90M	$452.50M
Interest expense	$171.80M	$183.10M	$228.80M	$150.60M	$163.80M	$179.50M	$193.10M	$281.10M	$229.90M	$216.20M
Pre-tax income	-$458.90M	-$341.80M	-$210.80M	$42.80M	-$176.60M	$339.90M	$338.00M	-$30.00M	$175.80M	$114.20M
Income tax	-$24.30M	-$120.50M	-$25.00M	$42.60M	$43.90M	$89.90M	$141.60M	$5.40M	$44.50M	$26.00M
Net income	-$434.20M	-$221.30M	-$185.80M	$200.00K	-$220.50M	$250.00M	$196.40M	-$35.40M	$131.30M	$88.20M
EBITDA	-$34.80M	$99.50M	$302.60M	$484.00M	$210.50M	$669.10M	$682.00M	$351.20M	$461.10M	$556.70M
EPS (basic)	$-3.07	$-1.54	$-1.09	$0.00	$-1.00	$1.12	$0.87	$-0.16	$0.57	$0.38
EPS (diluted)	$-3.07	$-1.54	$-1.09	$0.00	$-1.00	$1.10	$0.86	$-0.16	$0.56	$0.38
Diluted shares	141.40M	143.90M	171.20M	224.50M	220.80M	226.50M	228.00M	226.90M	232.80M	234.70M
Gross margin	—	18.5%	19.2%	20.2%	17.7%	20.7%	19.3%	17.4%	18.3%	18.3%
Operating margin	-4.8%	-2.5%	0.2%	2.1%	-0.7%	5.3%	5.3%	2.2%	3.6%	4.4%
Net margin	-7.0%	-3.2%	-2.3%	0.0%	-2.8%	2.7%	1.9%	-0.4%	1.4%	0.9%

Balance sheet

fiscal years · USD

Fiscal year	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Cash & equivalents	$382.30M	$405.60M	$895.30M	$813.20M	$1.07B	$770.70M	$644.50M	$767.70M	$793.30M	$784.20M
Total current assets	—	$1.91B	$2.74B	$2.86B	$2.89B	$2.83B	$2.77B	$2.80B	$2.69B	$2.84B
Goodwill	$1.61B	$1.77B	$1.78B	$1.97B	$2.10B	$2.08B	$2.07B	$2.08B	$2.00B	$2.06B
Total assets	—	$5.79B	$6.55B	$7.16B	$7.34B	$7.89B	$7.95B	$7.77B	$7.55B	$7.68B
Total current liabilities	—	$1.97B	$2.04B	$2.32B	$2.07B	$2.43B	$2.39B	$2.40B	$2.33B	$2.59B
Short-term debt	—	$59.50M	$39.90M	$39.30M	$39.70M	$42.40M	$49.80M	$149.70M	$103.20M	$124.90M
Long-term debt	—	$2.78B	$2.64B	$2.62B	$3.24B	$3.22B	$3.21B	$3.10B	$2.94B	$2.62B
Total debt	—	$2.84B	$2.68B	$2.66B	$3.28B	$3.26B	$3.26B	$3.25B	$3.04B	$2.75B
Total liabilities	—	$5.29B	$5.19B	$5.86B	$6.24B	$6.44B	$6.29B	$6.10B	$5.79B	$5.72B
Shareholders' equity	$585.50M	$499.40M	$1.36B	$1.30B	$1.09B	$1.45B	$1.66B	$1.68B	$1.75B	$1.96B

Cash flow

fiscal years · USD

Fiscal year	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Operating cash flow	-$335.10M	$4.40M	-$2.20M	$269.30M	-$38.20M	$549.50M	$49.10M	$152.20M	$208.00M	$340.40M
Capital expenditures	$77.30M	$129.10M	$84.20M	$80.30M	$41.00M	$53.80M	$50.70M	$51.00M	$41.00M	$47.40M
Free cash flow	-$412.40M	-$124.70M	-$86.40M	$189.00M	-$79.20M	$495.70M	-$1.60M	$101.20M	$167.00M	$293.00M
Investing cash flow	-$137.70M	-$143.20M	-$218.00M	-$274.90M	-$257.80M	-$749.50M	-$120.70M	$48.90M	$81.20M	-$21.10M
Financing cash flow	$356.50M	$167.70M	$725.90M	-$89.60M	$571.90M	-$65.80M	-$79.30M	-$120.80M	-$253.40M	-$350.50M
Stock-based compensation	$49.00M	$52.40M	$81.90M	$61.30M	$42.00M	$58.20M	$40.30M	$54.10M	$35.60M	$58.20M
Depreciation & amortization	$260.60M	$270.60M	$290.00M	$296.70M	$263.60M	$172.10M	$146.90M	$145.60M	$122.20M	$104.20M

Income statement

quarters · USD

Quarter ended	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026	Sep 2026
Revenue	$2.55B	$2.18B	$2.29B	$2.34B	$2.63B	$2.28B	$2.48B	$2.61B	$2.91B	$2.54B	$2.76B	$2.81B
Cost of revenue	$2.07B	$1.83B	$1.87B	$1.91B	$2.10B	$1.90B	$2.02B	$2.15B	$2.34B	$2.12B	$2.25B	$2.32B
Gross profit	$478.60M	$352.30M	$413.20M	$432.40M	$528.40M	$384.30M	$467.30M	$453.90M	$574.50M	$420.70M	$512.00M	$486.30M
Selling, general & admin	$317.10M	$296.00M	$294.20M	$314.20M	$319.70M	$305.80M	$318.30M	$320.60M	$372.50M	$336.70M	$349.30M	$329.60M
Operating income	$110.00M	$18.80M	$70.40M	$75.20M	$174.50M	$45.30M	$122.80M	$107.50M	$176.90M	$58.70M	$134.20M	$129.90M
Interest expense	$56.90M	$58.70M	$60.80M	$54.90M	$55.50M	$52.30M	$53.20M	$56.00M	$54.70M	$49.20M	$59.60M	$49.20M
Pre-tax income	$70.10M	-$26.50M	$17.20M	$53.00M	$132.10M	$5.00M	$76.20M	$45.10M	-$12.10M	—	—	—
Income tax	$300.00K	$2.30M	$3.70M	$19.30M	$19.20M	$3.10M	$18.90M	-$6.30M	$10.30M	$3.00M	$24.60M	$31.60M
Net income	$69.80M	-$28.80M	$13.50M	$33.70M	$112.90M	$1.90M	$57.30M	$51.40M	-$22.40M	-$12.60M	$52.70M	$52.10M
EBITDA	$146.80M	$51.30M	$101.60M	$104.10M	$204.10M	$72.00M	$149.00M	$133.30M	$202.40M	$84.00M	$162.70M	$156.70M
EPS (basic)	$0.30	$-0.13	$0.06	$0.15	$0.49	$0.01	$0.25	$0.22	$-0.10	$-0.05	$0.22	$0.22
EPS (diluted)	$0.30	$-0.13	$0.06	$0.14	$0.48	$0.01	$0.25	$0.22	$-0.09	$-0.05	$0.22	$0.22
Diluted shares	0	227.90M	231.50M	233.40M	700.00K	232.30M	232.40M	235.90M	900.00K	232.80M	236.30M	237.20M
Gross margin	18.8%	16.1%	18.1%	18.4%	20.1%	16.8%	18.8%	17.4%	19.7%	16.6%	18.5%	17.3%
Operating margin	4.3%	0.9%	3.1%	3.2%	6.6%	2.0%	4.9%	4.1%	6.1%	2.3%	4.9%	4.6%
Net margin	2.7%	-1.3%	0.6%	1.4%	4.3%	0.1%	2.3%	2.0%	-0.8%	-0.5%	1.9%	1.9%

Balance sheet

quarters · USD

Quarter ended	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026	Sep 2026
Cash & equivalents	$767.70M	$553.50M	$567.30M	$775.40M	$793.30M	$623.20M	$618.20M	$634.40M	$784.20M	$600.60M	$500.50M	$489.00M
Total current assets	$2.80B	$2.46B	$2.59B	$2.65B	$2.69B	$2.60B	$2.64B	$2.67B	$2.84B	$2.75B	$2.63B	$2.72B
Goodwill	$2.08B	$2.06B	$2.02B	$2.05B	$2.00B	$2.02B	$2.06B	$2.06B	$2.06B	$2.06B	$2.06B	$2.06B
Total assets	$7.77B	$7.49B	$7.34B	$7.53B	$7.55B	$7.41B	$7.56B	$7.69B	$7.68B	$7.65B	$7.55B	$7.74B
Total current liabilities	$2.40B	$2.18B	$2.14B	$2.24B	$2.33B	$2.20B	$2.33B	$2.51B	$2.59B	$2.43B	$2.44B	$2.56B
Short-term debt	$149.70M	$125.00M	$141.70M	$96.40M	$103.20M	$108.50M	$174.80M	$129.20M	$124.90M	$129.80M	$243.30M	$197.40M
Long-term debt	$3.10B	$3.07B	$3.00B	$3.00B	$2.94B	$2.91B	$2.82B	$2.72B	$2.62B	$2.62B	$2.41B	$2.41B
Total debt	$3.25B	$3.19B	$3.14B	$3.09B	$3.04B	$3.02B	$3.00B	$2.85B	$2.75B	$2.75B	$2.66B	$2.61B
Total liabilities	$6.10B	$5.87B	$5.70B	$5.83B	$5.79B	$5.63B	$5.65B	$5.73B	$5.72B	$5.70B	$5.53B	$5.64B
Shareholders' equity	$1.68B	$1.62B	$1.64B	$1.70B	$1.75B	$1.78B	$1.90B	$1.96B	$1.96B	$1.95B	$2.02B	$2.10B

Cash flow

quarters · USD

Quarter ended	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026	Sep 2026
Operating cash flow	$202.40M	-$125.10M	$21.80M	$196.10M	$115.20M	-$162.00M	$9.60M	$235.50M	$257.30M	-$243.50M	$54.00M	$213.90M
Capital expenditures	$16.20M	$10.50M	$11.80M	$9.40M	$9.30M	$4.60M	$9.30M	$10.50M	$23.00M	$12.20M	$8.50M	$37.80M
Free cash flow	$186.20M	-$135.60M	$10.00M	$186.70M	$105.90M	-$166.60M	$300.00K	$225.00M	$234.30M	-$255.70M	$45.50M	$176.10M
Investing cash flow	-$31.30M	-$10.80M	$67.70M	$57.40M	-$33.10M	$20.60M	$10.50M	-$60.10M	$7.90M	$94.10M	-$35.90M	-$163.20M
Financing cash flow	-$13.70M	-$72.90M	-$67.60M	-$57.00M	-$55.90M	-$41.30M	-$36.30M	-$155.50M	-$117.40M	-$28.10M	-$116.10M	-$61.90M
Stock-based compensation	$14.20M	$6.40M	$5.50M	$10.40M	$13.30M	$16.00M	$14.10M	$14.00M	$14.10M	$16.30M	$12.70M	$12.30M
Depreciation & amortization	$36.80M	$32.50M	$31.20M	$28.90M	$29.60M	$26.70M	$26.20M	$25.80M	$25.50M	$25.30M	$28.50M	$26.80M

Quarterly figures are rebuilt from the year-to-date totals companies report — Q4 is the full year minus the first nine months, since no 10-Q is filed for it. Values are as filed; later restatements replace earlier ones. Fiscal years are labelled by the calendar year in which they end.