Cushman & Wakefield Limited (CWK) Stock Analysis
Real Estate · Real Estate Services · NYSE
Cushman & Wakefield Limited (CWK) posted $10.29B in revenue for fiscal 2025 (up 8.9% year over year), at a 0.9% net margin, and has compounded revenue about 5.6%/yr over five years, per its SEC filings.
Data last refreshed August 2, 2026 from SEC filings · how we compute this
The analyst's take on Cushman & Wakefield Limited
Cushman & Wakefield Limited has grown revenue from $6.22B to $10.29B over the last 10 fiscal years, compounding about 5.6% a year. The most recent year was up 8.9%, so growth is actually accelerating.
Net margin sits at 0.9%, down 0.5 points year over year. It carries about $2.75B of total debt.
At today's valuation the market is pricing in roughly -0.9% annual free-cash-flow growth. The one thing worth a second look in the filings is heavy debt load.
Synthesised from Cushman & Wakefield Limited's SEC filings — descriptive, not advice. Ask the analyst your own question →
Cushman & Wakefield Limited revenue & earnings — last 10 fiscal years
| Metric | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $6.22B | $6.92B | $8.22B | $8.75B | $7.84B | $9.39B | $10.11B | $9.49B | $9.45B | $10.29B |
| Gross profit | — | — | — | — | — | — | — | — | — | — |
| Net income | $-434.20M | $-221.30M | $-185.80M | $200,000 | $-220.50M | $250.00M | $196.40M | $-35.40M | $131.30M | $88.20M |
| Net margin | -7.0% | -3.2% | -2.3% | 0.0% | -2.8% | 2.7% | 1.9% | -0.4% | 1.4% | 0.9% |
Source: Cushman & Wakefield Limited SEC filings (10-K).
Cushman & Wakefield Limited: 1 potential red flag in the filings
Patterns in the filed statements worth a second look — computed and cited, not AI guesswork, and not a signal to sell. The kind of thing that hides in a 10-K.
- Heavy debt loadTotal debt of $2869.4M is 8.4× last year's operating cash flow — it would take years of cash flow to clear.
What growth is priced into CWK stock?
At today's market cap of $3.13B, Cushman & Wakefield Limited is priced for free-cash-flow growth of about -0.9% per year for 10 years (assuming a 10% discount rate and 2.5% terminal growth, base FCF $293.00M from the FY ending 2025-12-31). For comparison, revenue 5.6%/yr, computed from its SEC filings. This is a reverse DCF — a translation of the price into a growth assumption you can judge, not a fair value and not advice. Change the assumptions yourself in the interactive view →
Explore 10 years of Cushman & Wakefield Limited financials — interactive
Full income statement, balance sheet and cash flow with CAGR and trend on every row, 48 quarters, valuation ratios, plain-English health checks, and Ask — our SEC-grounded research assistant.
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Cushman & Wakefield Limited financial history by metric
Compare Cushman & Wakefield Limited with peers
About Cushman & Wakefield Limited
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.
Cushman & Wakefield Limited — frequently asked questions
What is Cushman & Wakefield Limited's revenue?
Cushman & Wakefield Limited (CWK) reported revenue of $10.29B for fiscal year 2025, up 8.9% from the prior year, according to its SEC filings.
Is Cushman & Wakefield Limited profitable?
Yes. CWK earned net income of $88.20M in fiscal 2025, a net margin of 0.9%.
What is CWK's P/E ratio?
Cushman & Wakefield Limited trades at a price-to-earnings ratio of about 41.8 based on the latest data in our nightly-refreshed cache.
How fast is Cushman & Wakefield Limited growing?
CWK's revenue grew at roughly 5.6% per year over the last five fiscal years (compound annual growth rate), computed from SEC-filed statements.
How much debt does Cushman & Wakefield Limited have?
As of fiscal year 2025, CWK carried roughly $2.75B in total debt (short- plus long-term borrowings), per its filed balance sheet.
What is Cushman & Wakefield Limited's market cap?
Cushman & Wakefield Limited (CWK) has a market capitalization of about $3.13B, based on the latest data in our nightly-refreshed cache.
When does Cushman & Wakefield Limited's fiscal year end?
CWK's fiscal year ends in December. Its most recent annual filing covers the fiscal year ending 2025-12-31.
What growth is priced into CWK stock?
At today's market cap of $3.13B, Cushman & Wakefield Limited is priced for free-cash-flow growth of about -0.9% per year for 10 years (assuming a 10% discount rate and 2.5% terminal growth, base FCF $293.00M from the FY ending 2025-12-31). For comparison, revenue 5.6%/yr, computed from its SEC filings.
Where does this data come from?
All figures are computed from Cushman & Wakefield Limited's official SEC filings (10-K and 10-Q), covering 10 years of history, refreshed nightly. stockportfolio.pro does not provide investment advice.