For the twelve months ended Sep 30, 2026, Cushman & Wakefield Ltd. reported $11.02B of revenue and $69.80M of net income.
CWK revenue was $2.81B in fiscal Q3 2026 (ended Sep 30, 2026), up 7.7% from a year earlier and up 1.6% from the prior quarter. For the full fiscal 2025 it was $10.29B, up 8.9% from fiscal 2024. Compound annual growth was +5.6% over 5 years. It rose in 6 of the last 9 fiscal years. Fiscal 2025 is the highest of the 10 fiscal years on file.
CWK net income was $52.10M in fiscal Q3 2026 (ended Sep 30, 2026), up 1.4% from a year earlier and down 1.1% from the prior quarter. For the full fiscal 2025 it was $88.20M, down 32.8% from fiscal 2024.
CWK diluted EPS was $0.22 in fiscal Q3 2026 (ended Sep 30, 2026), up 0.0% from a year earlier and up 0.0% from the prior quarter. For the full fiscal 2025 it was $0.38, down 32.1% from fiscal 2024.
CWK free cash flow was $176.10M in fiscal Q3 2026 (ended Sep 30, 2026), down 21.7% from a year earlier and up 287.0% from the prior quarter. For the full fiscal 2025 it was $293.00M, up 75.4% from fiscal 2024.
| Line item | Dec 31, 2025 | Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | Dec 31, 2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $10.29B | $9.45B | $9.49B | $10.11B | $9.39B | $7.84B | $8.75B | $8.22B | $6.92B | $6.22B |
| Selling, general and admin | $1.32B | $1.22B | $1.26B | $1.26B | $1.23B | $1.12B | $1.28B | $1.27B | $1.16B | $1.15B |
| Operating income | $452.50M | $338.90M | $205.60M | $535.10M | $497.00M | -$53.10M | $187.30M | $12.60M | -$171.10M | -$295.40M |
| Interest expense | $216.20M | $229.90M | $281.10M | $193.10M | $179.50M | $163.80M | $150.60M | $228.80M | $183.10M | $171.80M |
| Pre-tax income | $114.20M | $175.80M | -$30.00M | $338.00M | $339.90M | -$176.60M | $42.80M | -$210.80M | -$341.80M | -$458.90M |
| Income tax | $26.00M | $44.50M | $5.40M | $141.60M | $89.90M | $43.90M | $42.60M | -$25.00M | -$120.50M | -$24.30M |
| Net income | $88.20M | $131.30M | -$35.40M | $196.40M | $250.00M | -$220.50M | $200.0K | -$185.80M | -$221.30M | -$434.20M |
| EPS, basic | $0.38 | $0.57 | -$0.16 | $0.87 | $1.12 | -$1.00 | $0.00 | -$1.09 | -$1.54 | -$3.07 |
| EPS, diluted | $0.38 | $0.56 | -$0.16 | $0.86 | $1.10 | -$1.00 | $0.00 | -$1.09 | -$1.54 | -$3.07 |
| Diluted shares | 234.7M | 232.8M | 226.9M | 228.0M | 226.5M | 220.8M | 224.5M | 171.2M | 143.9M | 141.4M |
| Line item | Dec 31, 2025 | Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | Dec 31, 2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $784.20M | $814.60M | $801.20M | $719.00M | $890.30M | $1.16B | $872.30M | $965.40M | $405.60M | $382.30M |
| Current assets | $2.84B | $2.69B | $2.80B | $2.77B | $2.83B | $2.89B | $2.86B | $2.74B | $1.91B | - |
| Goodwill | $2.06B | $2.00B | $2.08B | $2.07B | $2.08B | $2.10B | $1.97B | $1.78B | $1.77B | $1.61B |
| Total assets | $7.68B | $7.55B | $7.77B | $7.95B | $7.89B | $7.34B | $7.16B | $6.55B | $5.79B | - |
| Current liabilities | $2.59B | $2.33B | $2.40B | $2.39B | $2.43B | $2.07B | $2.32B | $2.04B | $1.97B | - |
| Short-term debt | $124.90M | $103.20M | $149.70M | $49.80M | $42.40M | $39.70M | $39.30M | $39.90M | $59.50M | - |
| Long-term debt | $2.62B | $2.94B | $3.10B | $3.21B | $3.22B | $3.24B | $2.62B | $2.64B | $2.78B | - |
| Total debt | $2.75B | $3.04B | $3.25B | $3.26B | $3.26B | $3.28B | $2.66B | $2.68B | $2.84B | - |
| Total liabilities | $5.72B | $5.79B | $6.10B | $6.29B | $6.44B | $6.24B | $5.86B | $5.19B | $5.29B | - |
| Shareholders' equity | $1.96B | $1.76B | $1.68B | $1.66B | $1.45B | $1.10B | $1.30B | $1.36B | $499.40M | $585.50M |
| Line item | Dec 31, 2025 | Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | Dec 31, 2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $340.40M | $208.00M | $152.20M | $49.10M | $549.50M | -$38.20M | $269.30M | -$2.20M | $4.40M | -$335.10M |
| Capital expenditures | $47.40M | $41.00M | $51.00M | $50.70M | $53.80M | $41.00M | $80.30M | $84.20M | $129.10M | $77.30M |
| Free cash flow | $293.00M | $167.00M | $101.20M | -$1.60M | $495.70M | -$79.20M | $189.00M | -$86.40M | -$124.70M | -$412.40M |
| Investing cash flow | -$21.10M | $81.20M | $48.90M | -$120.70M | -$749.50M | -$257.80M | -$274.90M | -$218.00M | -$143.20M | -$137.70M |
| Financing cash flow | -$350.50M | -$253.40M | -$120.80M | -$79.30M | -$65.80M | $571.90M | -$89.60M | $725.90M | $167.70M | $356.50M |
| Stock-based compensation | $58.20M | $35.60M | $54.10M | $40.30M | $58.20M | $42.00M | $61.30M | $81.90M | $52.40M | $49.00M |
| Depreciation and amortization | $104.20M | $122.20M | $145.60M | $146.90M | $172.10M | $263.60M | $296.70M | $290.00M | $270.60M | $260.60M |
| Line item | Dec 31, 2025 | Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | Dec 31, 2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue growth, YoY | 8.9% | -0.5% | -6.1% | 7.6% | 19.7% | -10.4% | 6.5% | 18.7% | 11.4% | - |
| Net income growth, YoY | -32.8% | - | - | -21.4% | - | - | - | - | - | - |
| EPS growth, YoY | -32.1% | - | - | -21.8% | - | - | - | - | - | - |
| Operating margin | 4.4% | 3.6% | 2.2% | 5.3% | 5.3% | -0.7% | 2.1% | 0.2% | -2.5% | -4.8% |
| Net margin | 0.9% | 1.4% | -0.4% | 1.9% | 2.7% | -2.8% | 0.0% | -2.3% | -3.2% | -7.0% |
| Free cash flow margin | 2.8% | 1.8% | 1.1% | -0.0% | 5.3% | -1.0% | 2.2% | -1.1% | -1.8% | -6.6% |
| Return on equity | 4.5% | 7.5% | -2.1% | 11.8% | 17.3% | -20.1% | 0.0% | -13.7% | -44.3% | -74.2% |
| Return on assets | 1.1% | 1.7% | -0.5% | 2.5% | 3.2% | -3.0% | 0.0% | -2.8% | -3.8% | - |
| Current ratio | 1.10 | 1.15 | 1.17 | 1.16 | 1.16 | 1.40 | 1.23 | 1.35 | 0.97 | - |
| Debt to equity | 1.41 | 1.73 | 1.93 | 1.96 | 2.25 | 2.99 | 2.04 | 1.97 | 5.69 | - |
| Line item | Sep 30, 2026 | Jun 30, 2026 | Mar 31, 2026 | Dec 31, 2025 | Sep 30, 2025 | Jun 30, 2025 | Mar 31, 2025 | Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | Dec 31, 2023 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $2.81B | $2.76B | $2.54B | $2.91B | $2.61B | $2.48B | $2.28B | $2.63B | $2.34B | $2.29B | $2.18B | $2.55B |
| Selling, general and admin | $329.60M | $349.30M | $336.70M | $372.50M | $320.60M | $318.30M | $305.80M | $319.70M | $314.20M | $294.20M | $296.00M | $317.10M |
| Operating income | $129.90M | $134.20M | $58.70M | $176.90M | $107.50M | $122.80M | $45.30M | $174.50M | $75.20M | $70.40M | $18.80M | $110.00M |
| Interest expense | $49.20M | $59.60M | $49.20M | $54.70M | $56.00M | $53.20M | $52.30M | $55.50M | $54.90M | $60.80M | $58.70M | $56.90M |
| Pre-tax income | - | - | - | -$12.10M | $45.10M | $76.20M | $5.00M | $132.10M | $53.00M | $17.20M | -$26.50M | $70.10M |
| Income tax | $31.60M | $24.60M | $3.00M | $10.30M | -$6.30M | $18.90M | $3.10M | $19.20M | $19.30M | $3.70M | $2.30M | $300.0K |
| Net income | $52.10M | $52.70M | -$12.60M | -$22.40M | $51.40M | $57.30M | $1.90M | $112.90M | $33.70M | $13.50M | -$28.80M | $69.80M |
| EPS, basic | $0.22 | $0.22 | -$0.05 | -$0.10 | $0.22 | $0.25 | $0.01 | $0.49 | $0.15 | $0.06 | -$0.13 | $0.31 |
| EPS, diluted | $0.22 | $0.22 | -$0.05 | -$0.10 | $0.22 | $0.25 | $0.01 | $0.49 | $0.14 | $0.06 | -$0.13 | $0.31 |
| Diluted shares | 237.2M | 236.3M | 232.8M | - | 235.9M | 232.4M | 232.3M | - | 233.4M | 231.5M | 227.9M | - |
| Line item | Sep 30, 2026 | Jun 30, 2026 | Mar 31, 2026 | Dec 31, 2025 | Sep 30, 2025 | Jun 30, 2025 | Mar 31, 2025 | Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | Dec 31, 2023 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $489.00M | $500.50M | $600.60M | $784.20M | $660.80M | $646.00M | $640.20M | $814.60M | $812.90M | $604.90M | $585.80M | $801.20M |
| Current assets | $2.72B | $2.63B | $2.75B | $2.84B | $2.67B | $2.64B | $2.60B | $2.69B | $2.65B | $2.59B | $2.46B | $2.80B |
| Goodwill | $2.06B | $2.06B | $2.06B | $2.06B | $2.06B | $2.06B | $2.02B | $2.00B | $2.05B | $2.02B | $2.06B | $2.08B |
| Total assets | $7.74B | $7.55B | $7.65B | $7.68B | $7.69B | $7.56B | $7.41B | $7.55B | $7.53B | $7.34B | $7.49B | $7.77B |
| Current liabilities | $2.56B | $2.44B | $2.43B | $2.59B | $2.51B | $2.33B | $2.20B | $2.33B | $2.24B | $2.14B | $2.18B | $2.40B |
| Short-term debt | $197.40M | $243.30M | $129.80M | $124.90M | $129.20M | $174.80M | $108.50M | $103.20M | $96.40M | $141.70M | $125.00M | $149.70M |
| Long-term debt | $2.41B | $2.41B | $2.62B | $2.62B | $2.72B | $2.82B | $2.91B | $2.94B | $3.00B | $3.00B | $3.07B | $3.10B |
| Total debt | $2.61B | $2.66B | $2.75B | $2.75B | $2.85B | $3.00B | $3.02B | $3.04B | $3.09B | $3.14B | $3.19B | $3.25B |
| Total liabilities | $5.64B | $5.53B | $5.70B | $5.72B | $5.73B | $5.65B | $5.63B | $5.79B | $5.83B | $5.70B | $5.87B | $6.10B |
| Shareholders' equity | $2.10B | $2.02B | $1.95B | $1.96B | $1.96B | $1.90B | $1.78B | $1.76B | $1.70B | $1.64B | $1.63B | $1.68B |
| Line item | Sep 30, 2026 | Jun 30, 2026 | Mar 31, 2026 | Dec 31, 2025 | Sep 30, 2025 | Jun 30, 2025 | Mar 31, 2025 | Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | Dec 31, 2023 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $213.90M | $54.00M | -$243.50M | $257.30M | $235.50M | $9.60M | -$162.00M | $115.20M | $196.10M | $21.80M | -$125.10M | $202.40M |
| Capital expenditures | $37.80M | $8.50M | $12.20M | $23.00M | $10.50M | $9.30M | $4.60M | $9.30M | $9.40M | $11.80M | $10.50M | $16.20M |
| Free cash flow | $176.10M | $45.50M | -$255.70M | $234.30M | $225.00M | $300.0K | -$166.60M | $105.90M | $186.70M | $10.00M | -$135.60M | $186.20M |
| Investing cash flow | -$163.20M | -$35.90M | $94.10M | $7.90M | -$60.10M | $10.50M | $20.60M | -$33.10M | $57.40M | $67.70M | -$10.80M | -$31.30M |
| Financing cash flow | -$61.90M | -$116.10M | -$28.10M | -$117.40M | -$155.50M | -$36.30M | -$41.30M | -$55.90M | -$57.00M | -$67.60M | -$72.90M | -$13.70M |
| Stock-based compensation | $12.30M | $12.70M | $16.30M | $14.10M | $14.00M | $14.10M | $16.00M | $13.30M | $10.40M | $5.50M | $6.40M | $14.20M |
| Depreciation and amortization | $26.80M | $28.50M | $25.30M | $25.50M | $25.80M | $26.20M | $26.70M | $29.60M | $28.90M | $31.20M | $32.50M | $36.80M |
| Line item | Sep 30, 2026 | Jun 30, 2026 | Mar 31, 2026 | Dec 31, 2025 | Sep 30, 2025 | Jun 30, 2025 | Mar 31, 2025 | Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | Dec 31, 2023 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue growth, YoY | 7.7% | 11.2% | 11.0% | 10.8% | 11.2% | 8.6% | 4.6% | 3.0% | 2.5% | -4.9% | -2.9% | -3.6% |
| Net income growth, YoY | 1.4% | -8.0% | - | - | 52.5% | 324.4% | - | 61.7% | - | 164.7% | - | 134.2% |
| EPS growth, YoY | 0.0% | -12.0% | - | - | 57.1% | 316.7% | - | 58.1% | - | 200.0% | - | 158.3% |
| Operating margin | 4.6% | 4.9% | 2.3% | 6.1% | 4.1% | 4.9% | 2.0% | 6.6% | 3.2% | 3.1% | 0.9% | 4.3% |
| Net margin | 1.9% | 1.9% | -0.5% | -0.8% | 2.0% | 2.3% | 0.1% | 4.3% | 1.4% | 0.6% | -1.3% | 2.7% |
| Free cash flow margin | 6.3% | 1.6% | -10.1% | 8.0% | 8.6% | 0.0% | -7.3% | 4.0% | 8.0% | 0.4% | -6.2% | 7.3% |
| Current ratio | 1.06 | 1.08 | 1.13 | 1.10 | 1.07 | 1.13 | 1.18 | 1.15 | 1.18 | 1.21 | 1.13 | 1.17 |
| Debt to equity | 1.24 | 1.31 | 1.41 | 1.41 | 1.46 | 1.57 | 1.70 | 1.73 | 1.82 | 1.92 | 1.96 | 1.93 |
Source: XBRL data Cushman & Wakefield Ltd. files with the SEC, latest filing dated Nov 4, 2026 (see filings on SEC EDGAR). Provided for information only, not investment advice. Check the filing before relying on a number.
* Worked out from the filings rather than stated in them: Q4 is the full year less the first nine months.
Per-share figures are as filed. The filings show no stock split in these periods.
EPS growth is left out where the share count moved enough to suggest a split the filings do not show. Growth rates need a positive starting figure. CAGR is compound annual growth between fiscal years. The CSV holds every period on file, in full figures, from the same SEC filings.
| Company | Revenue | Growth | Net income | Net margin | Market cap |
|---|---|---|---|---|---|
| CWK | $11.02B | +10.2% | $69.80M | 0.6% | $3.28B |
| CBRE | $45.01B | +14.8% | $1.38B | 3.1% | $39.05B |
| BEKE | CN¥94.58B | +1.2% | CN¥2.99B | 3.2% | $21.30B |
| JLL | $28.20B | +11.4% | $1.10B | 3.9% | $16.94B |
| INVH | $2.90B | +7.2% | $682.40M | 23.5% | $15.61B |
| CSGP | $3.67B | +20.2% | $179.00M | 4.9% | $12.29B |
| COMP | $12.61B | +89.8% | $133.50M | 1.1% | $7.73B |
| TRNO | $518.86M | +17.2% | $353.32M | 68.1% | $7.33B |
| FSV | $5.50B | +5.4% | $145.05M | 2.6% | $6.42B |