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MARKETS / NYSE / CWK
NYSE · REAL ESTATE · LARGE CAP

Cushman & Wakefield Ltd. CWK

9 fiscal years on record · USD · FY2025 reported · SEC filings only
$10.3B
▲ 8.9% YoY
$88.2M
▼ 32.8% YoY
$293.0M
▲ 75.4% YoY
In brief

What this company does

Cushman & Wakefield's employees provide advisory and execution services across the built environment and manage approximately 6.5 billion square feet of commercial real estate globally through offices in over 350 locations across nearly 60 countries. In 2025, it generated revenues of $10.3 billion. As of December 31, 2025, it had approximately 53,000 employees worldwide, of which approximately 67% were in the Americas, 10% in EMEA and 23% in APAC. Its business is focused on comprehensive global offerings including Services, Leasing, Capital markets and Valuation and other services. It reports its operating results through three geographic segments: the Americas, Europe, Middle East and Africa, and Asia Pacific. Cushman & Wakefield's founding predecessor firm, DTZ, traces its history back to 1784 with the founding of Chessire Gibson in the U.K., and the Cushman & Wakefield brand was founded in 1917 in New York.

Written from the business description in Cushman & Wakefield Ltd.'s annual report to the U.S. Securities and Exchange Commission, filed 19 February 2026. Every sentence was checked against that document before publication.

Growth
USD 10.3B
Revenue, FY2025 · full 9-year series below
Revenue $B Net income $B
FY2025 · Revenue 10.3 · Net income 0.1
4B8B201720182019202020212022202320242025
Compound annual growth
+0.6%
+5.6%
−23.4%
−23.8%
3 yrs
5 yrs
10 yrs
15 yrs

Revenue compounded at +5.6% a year over five years.

Compound annual rates per period — left blank where that exact year isn't on file, the series crosses a loss, or (per-share rows) a split falls inside the window.

Profitability
1 cents
of every revenue dollar became profit
Operating margin Net margin
FY2025 · Operating 4.4% · Net 0.9%
2%4%-1%-2%-3%201720182019202020212022202320242025
ROE
FY2025 · ROE 4.8%
5%10%15%-5%-10%-15%201720182019202020212022202320242025

Each USD of equity produced 5 cents of profit this year.

Cash & shareholders
returned in FY2025 · dividends + net buybacks
Free cash flow $M
FY2025 · FCF 293.0
200M400M-50M-100M201720182019202020212022202320242025

Total assetsUSD 7.7B
EquityUSD 2.0B
CashUSD 784.2M
Gross debtUSD 2.7B
Net debtUSD 2.0B
Current ratio1.10×

Net debt stands at 100% of equity.

The 9-year record
9 fiscal years
Every figure from documents filed with the SEC · USD
row low → row highnegative
Metric 202520242023202220212020201920182017
Revenue $B10.39.49.510.19.47.88.88.26.9
Operating income $B0.50.30.20.50.5−0.10.20.0−0.2
EBITDA $B0.60.50.40.70.70.20.50.30.1
Income tax $B0.00.00.00.10.10.00.0−0.0−0.1
Net income $B0.10.1−0.00.20.2−0.20.0−0.2−0.2
Free cash flow $B0.30.20.1−0.00.5−0.10.2−0.1−0.1
EPS, diluted $0.380.56−0.160.861.10−1.000.00−1.09−1.54
Dividend / sh $·········
Payout %·········
ROE %4.87.7−2.112.619.7−18.40.0−13.7·
Shares out B0.230.230.230.230.220.220.220.22·

Slide the table for earlier years · "·" marks a figure not available in our data for that year.

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This company against its peers

Provenance
Company facts, as filed
How we verify · 0 failures in 33 reconciliationsAUDITED

Reconciled in 9 of 19 fiscal years. 53 checks could not be computed.

EPS recomputationBalance-sheet identityGross profitBalance-sheet liquiditymoeda_consistente0 failures
ActivityReal Estate
Listed onNYSE
Incorporated inoutside the United States — SEC code D0
Fiscal year endsDecember 31
Data on record since2017

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