Cushman & Wakefield Ltd.
CWK- Exchange
- NYSE
- Industry
- Real Estate
- SEC CIK
- 0001628369
In the last 90 days, Cushman & Wakefield Ltd. insiders filed 0 open-market purchases and 3 sales; 313 institutions reported holding it in 13F filings for Q2 2026, worth $3.03B in total; Harris Associates (Oakmark) is the only superinvestor holding it.
- Currency
- USD
- Source
- SEC XBRL data (10-K, 10-Q, 20-F, 40-F)
- Updated
- Nov 5, 2026, 12:19 AM ET
Revenue flow, FY2025
Where the revenue went in FY2025, from the income statement below. Green is profit; orange is costs, expenses and taxes. Percentages are shares of revenue; hover over a band or a bar for the exact amount.
Income statement
Each column is one fiscal year, newest first.
| Line item | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|
| Period end | Dec 31, 2025 | Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 |
| Filing | 10-K | 10-K | 10-K | 10-K | 10-K |
| Reported | Feb 19, 2026 | Feb 20, 2025 | Feb 20, 2024 | Feb 23, 2023 | Feb 24, 2022 |
| Revenue | $10.3B | $9.45B | $9.49B | $10.1B | $9.39B |
| Selling, general and administrative | $1.32B | $1.22B | $1.26B | $1.26B | $1.23B |
| Operating income | $452.5M | $338.9M | $205.6M | $535.1M | $497.0M |
| Interest expense | – | – | $281.1M | $193.1M | $179.5M |
| Income tax | $26.0M | $44.5M | $5.40M | $141.6M | $89.9M |
| Net income | $88.2M | $131.3M | -$35.4M | $196.4M | $250.0M |
| EPS, basic | $0.38 | $0.57 | $-0.16 | $0.87 | $1.12 |
| EPS, diluted | $0.38 | $0.56 | $-0.16 | $0.86 | $1.10 |
| Weighted shares, basic | 231.2M | 228.9M | 226.9M | 225.4M | 223.0M |
| Weighted shares, diluted | 234.7M | 232.8M | 226.9M | 228.0M | 226.5M |
| Margins and growth | |||||
| Operating margin | 4.4% | 3.6% | 2.2% | 5.3% | 5.3% |
| Net margin | 0.9% | 1.4% | -0.4% | 1.9% | 2.7% |
| Revenue growth, year over year | +8.9% | −0.5% | −6.1% | +7.6% | +19.7% |
| Net income growth, year over year | −32.8% | – | −118.0% | −21.4% | – |
Balance sheet
Each column is one fiscal year, newest first.
| Line item | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|
| Period end | Dec 31, 2025 | Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 |
| Filing | 10-K | 10-K | 10-K | 10-K | 10-K |
| Reported | Feb 19, 2026 | Feb 20, 2025 | Feb 20, 2024 | Feb 23, 2023 | Feb 24, 2022 |
| Cash and equivalents | $784.2M | $793.3M | $767.7M | $644.5M | $770.7M |
| Total current assets | $2.84B | $2.69B | $2.80B | $2.77B | $2.83B |
| Property, plant and equipment | $132.9M | $136.0M | $163.8M | $172.6M | $194.6M |
| Goodwill | $2.06B | $2.00B | $2.08B | $2.07B | $2.08B |
| Intangible assets | $654.7M | $690.1M | $805.9M | $874.5M | $922.2M |
| Total assets | $7.68B | $7.55B | $7.77B | $7.95B | $7.89B |
| Short-term debt | $124.9M | $103.2M | $149.7M | $49.8M | $42.4M |
| Total current liabilities | $2.59B | $2.33B | $2.40B | $2.39B | $2.43B |
| Long-term debt | $2.62B | $2.94B | $3.10B | $3.21B | $3.22B |
| Total liabilities | $5.72B | $5.79B | $6.10B | $6.29B | $6.44B |
| Shareholders' equity | $1.96B | $1.76B | $1.68B | $1.66B | $1.45B |
Cash flow statement
Each column is one fiscal year, newest first. Free cash flow is operating cash flow minus capital expenditures.
| Line item | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|
| Period end | Dec 31, 2025 | Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 |
| Filing | 10-K | 10-K | 10-K | 10-K | 10-K |
| Reported | Feb 19, 2026 | Feb 20, 2025 | Feb 20, 2024 | Feb 23, 2023 | Feb 24, 2022 |
| Operating cash flow | $340.4M | $208.0M | $152.2M | $49.1M | $549.5M |
| Capital expenditures | $47.4M | $41.0M | $51.0M | $50.7M | $53.8M |
| Free cash flow | $293.0M | $167.0M | $101.2M | -$1.60M | $495.7M |
| Depreciation and amortization | $104.2M | $122.2M | $145.6M | $146.9M | $172.1M |
| Stock-based compensation | $58.2M | $35.6M | $54.1M | $40.3M | $58.2M |
| Investing cash flow | -$21.1M | $81.2M | $48.9M | -$120.7M | -$749.5M |
| Financing cash flow | -$350.5M | -$253.4M | -$120.8M | -$79.3M | -$65.8M |
| Net change in cash | – | – | – | -$150.9M | -$265.8M |
| Ratio | |||||
| Stock-based compensation, % of revenue | 0.6% | 0.4% | 0.6% | 0.4% | 0.6% |
Shares outstanding
Common shares outstanding as stated on the cover of each 10-K and 10-Q. The date is the cover date, not the period end; a rising count means dilution.
| Cover date | Shares outstanding | Change in a year | Filing |
|---|---|---|---|
| Oct 29, 2026 | 234.8M | +1.4% | SEC |
| Jul 30, 2026 | 234.7M | +1.4% | SEC |
| May 1, 2026 | 234.3M | +1.3% | SEC |
| Feb 13, 2026 | 231.8M | +0.9% | SEC |
| Oct 24, 2025 | 231.6M | +0.9% | SEC |
| Jul 30, 2025 | 231.5M | +1.0% | SEC |
| Apr 23, 2025 | 231.3M | +1.0% | SEC |
| Feb 14, 2025 | 229.7M | +1.1% | SEC |
Notes and known gaps
How these numbers are put together, and what they can't tell you.
- Numbers come from the XBRL data in each period's original 10-K, 10-Q, 20-F or 40-F, or its amendment. They are shown as filed: later filings don't restate earlier periods here.
- Reported is the filing date of the first 8-K with Item 2.02 (results of operations) after the period ended, no later than the 10-Q or 10-K and within 120 days. Companies that release results only in the 10-Q, and foreign companies, which use Form 6-K, have none.
Known gaps
- Foreign companies that file Form 20-F or 40-F have annual statements only: their quarterly results are furnished on Form 6-K, which has no XBRL data.
- EPS and share counts are as reported at the time, not adjusted for later stock splits.
- For ADRs, EPS is per ordinary share, not per ADS (one TSMC ADS is five ordinary shares).
- For banks, revenue may be interest income only, depending on how the bank tags its filings; cost of revenue and gross profit are usually blank.
- Companies with several share classes, such as Berkshire Hathaway, may have no EPS and no cover share count.
- Depreciation and amortization is missing for some companies that report it under their own XBRL tags.