CWK
$11.51+4.26%
Cushman & Wakefield Ltd.Stock · Real EstateUS REITs · 0.2% of VNQRussell 2000 · 0.10% of IWMUS Stock Market · 0.004% of VTIRussell 3000 · 0.004% of IWV
CWK financial statements
The full income statement, balance sheet, and cash-flow statement for Cushman & Wakefield Ltd. (CWK), plus valuation ratios — straight from SEC filings. Switch between annual, quarterly, and trailing-twelve-month figures, pick how far back to look, and flip the time order. Every line has a trend sparkline.
Shares outstanding (point-in-time)
2024-06 229.2M2024-09 229.5M2024-12 229.7M2025-03 231.3M2025-06 231.5M2025-09 231.6M2025-12 231.8M2026-03 234.3M2026-06 234.7M+2.4% over 8 periods
SEC-filed end-of-period counts (cover pages and balance sheets, split-adjusted) — the series realized buyback yield is computed from. The weighted-average share lines in the statements below lag these by design: an average over the year sits near the midpoint of an ongoing buyback.
PeriodRangeOrderChangeFiguresAs-reported fiscal years.
| Line item | Trend | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|---|
| Income Statement | as ofDec 31 ’25 | as ofDec 31 ’24 | as ofDec 31 ’23 | as ofDec 31 ’22 | as ofDec 31 ’21 | |
| Revenue | 10.3B+8.9% | 9.45B-0.5% | 9.49B-6.1% | 10.1B+7.6% | 9.39B+19.7% | |
| Selling, general & administrative | 1.32B+7.6% | 1.22B-3.1% | 1.26B+0.1% | 1.26B+2.8% | 1.23B+9.4% | |
| Restructuring | — | 21.5M-12.2% | 24.5M+235.6% | 7.30M-68.4% | 23.1M-56.2% | |
| Amortization of intangibles | 39.6M-13.7% | 45.9M-28.5% | 64.2M+0.2% | 64.1M-3.2% | 66.2M-54.3% | |
| Provision for credit losses | 22.2M+6.7% | 20.8M+96.2% | 10.6M-66.6% | 31.7M-16.6% | 38.0M-20.3% | |
| Operating income | 453M+33.5% | 339M+64.8% | 206M-61.6% | 535M+7.7% | 497M+1036.0% | |
| Interest expense | 216M-6.0% | 230M-18.2% | 281M+45.6% | 193M+7.6% | 180M+9.6% | |
| Other non-operating income | 46.2M+57.1% | 29.4M+333.3% | -12.6M+85.8% | -89.0M-7516.7% | 1.20M-96.3% | |
| Equity-method income | -168M-550.0% | 37.4M-35.6% | 58.1M-31.6% | 85.0M+300.9% | 21.2M+155.4% | |
| Gain (loss) on equity securities | — | -800K+97.1% | -27.8M+67.0% | -84.2M-709.6% | -10.4M | |
| Pre-tax income | 114M-35.0% | 176M+686.0% | -30.0M-108.9% | 338M-0.6% | 340M+292.5% | |
| Income tax | 26.0M-41.6% | 44.5M+724.1% | 5.40M-96.2% | 142M+57.5% | 89.9M+104.8% | |
| Net income | 88.2M-32.8% | 131M+470.9% | -35.4M-118.0% | 196M-21.4% | 250M+213.4% | |
| $0.38-32.1% | $0.56+450.0% | -$0.16-118.6% | $0.86-21.8% | $1.10+210.0% | ||
| EPS (basic) | $0.38-33.3% | $0.57+456.3% | -$0.16-118.4% | $0.87-22.3% | $1.12+212.0% | |
| Weighted-avg shares (basic) | 231M+1.0% | 229M+0.9% | 227M+0.7% | 225M+1.1% | 223M+1.0% | |
| Weighted-avg shares (diluted) | 235M+0.8% | 233M+2.6% | 227M-0.5% | 228M+0.7% | 227M+2.6% | |
| Balance Sheet | as ofDec 31 ’25 | as ofDec 31 ’24 | as ofDec 31 ’23 | as ofDec 31 ’22 | as ofDec 31 ’21 | |
| 2.84B+5.7% | 2.69B-4.0% | 2.80B+1.3% | 2.77B-2.2% | 2.83B-2.1% | ||
| Cash & equivalents | 784M-1.1% | 793M+3.3% | 768M+19.1% | 645M-16.4% | 771M-28.3% | |
| Prepaid expenses | 190M+4.7% | 181M-4.3% | 189M-23.1% | 246M-7.0% | 265M+18.6% | |
| 7.68B+1.7% | 7.55B-2.9% | 7.77B-2.2% | 7.95B+0.7% | 7.89B+7.5% | ||
| Property, plant & equipment | 133M-2.3% | 136M-17.0% | 164M-5.1% | 173M-11.3% | 195M-17.5% | |
| Operating lease right-of-use | 277M-4.4% | 290M-14.4% | 339M-5.3% | 358M-13.4% | 414M-5.6% | |
| Goodwill | 2.06B+3.0% | 2.00B-4.0% | 2.08B+0.7% | 2.07B-0.8% | 2.08B-0.8% | |
| Intangible assets | 655M-5.1% | 690M-14.4% | 806M-7.8% | 875M-5.2% | 922M-7.0% | |
| Deferred tax assets | 149M+60.0% | 93.1M+38.1% | 67.4M+15.0% | 58.6M-10.5% | 65.5M+6.7% | |
| Other non-current assets | 1.02B+10.4% | 928M+15.1% | 806M-17.4% | 976M+31.7% | 741M+46.0% | |
| 2.59B+11.2% | 2.33B-2.8% | 2.40B+0.3% | 2.39B-1.8% | 2.43B+17.9% | ||
| Accrued liabilities | 1.23B+10.3% | 1.11B-4.1% | 1.16B-3.4% | 1.20B+8.4% | 1.11B+4.9% | |
| Short-term & current debt | 120M+24.2% | 96.3M-33.0% | 144M+225.1% | 44.2M+17.9% | 37.5M+2.2% | |
| Current lease liability | 98.2M+2.2% | 96.1M-13.7% | 111M+3.4% | 108M+0.4% | 107M-6.4% | |
| Other current liabilities | 191M-2.3% | 196M-9.9% | 218M+13.3% | 192M-6.1% | 205M-0.6% | |
| Finance lease liability (current) | 15.4M-24.5% | 20.4M-13.9% | 23.7M+37.0% | 17.3M+57.3% | 11.0M+10.0% | |
| 5.72B-1.3% | 5.79B-5.0% | 6.10B-3.0% | 6.29B-2.4% | 6.44B+3.2% | ||
| Long-term debt | 2.62B-10.7% | 2.94B-5.1% | 3.10B-3.6% | 3.21B-0.3% | 3.22B-0.5% | |
| Non-current lease liability | 247M-8.8% | 270M-15.4% | 320M-4.5% | 335M-15.2% | 395M-2.7% | |
| Operating lease liability (total) | 345M-5.9% | 366M-15.0% | 431M-2.6% | 442M-11.9% | 502M-3.5% | |
| Finance lease liability (total) | 35.7M-1.9% | 36.4M-20.7% | 45.9M+15.9% | 39.6M+70.7% | 23.2M+22.1% | |
| Finance lease liability | 20.3M+26.9% | 16.0M-27.9% | 22.2M-0.4% | 22.3M+82.8% | 12.2M+35.6% | |
| Deferred tax liabilities | 13.8M+9.5% | 12.6M-8.0% | 13.7M-76.0% | 57.2M+17.5% | 48.7M-52.3% | |
| Other non-current liabilities | 244M+1.0% | 241M-10.1% | 269M-8.4% | 293M-14.6% | 344M-20.7% | |
| 1.96B+11.4% | 1.75B+4.6% | 1.68B+1.0% | 1.66B+14.7% | 1.45B+32.3% | ||
| Common stock | 23.2M+0.9% | 23.0M+1.3% | 22.7M+0.4% | 22.6M+0.9% | 22.4M+0.9% | |
| Additional paid-in capital | 3.04B+1.7% | 2.99B+1.0% | 2.96B+1.6% | 2.91B+0.5% | 2.90B+1.9% | |
| Retained earnings | -898M+8.9% | -986M+11.8% | -1.12B-3.3% | -1.08B+15.4% | -1.28B+16.4% | |
| Accumulated other comprehensive income | -209M+22.3% | -269M-44.9% | -185M+2.9% | -191M+1.0% | -193M+20.5% | |
| Non-controlling interest | 500K+0.0% | 500K-16.7% | 600K-25.0% | 800K+0.0% | 800K-11.1% | |
| Total equity incl. non-controlling | 1.96B+11.4% | 1.76B+4.6% | 1.68B+1.0% | 1.66B+14.7% | 1.45B+32.2% | |
| Total liabilities & equity | 7.68B+1.7% | 7.55B-2.9% | 7.77B-2.2% | 7.95B+0.7% | 7.89B+7.5% | |
| Common shares issued | 232M+0.9% | 230M+1.1% | 227M+0.7% | 226M+0.9% | 224M+0.8% | |
| Common shares outstanding | 232M+0.9% | 230M+1.1% | 227M+0.7% | 226M+0.9% | 224M+0.8% | |
| Shares outstanding (cover) | 232M+0.9% | 230M+1.1% | 227M+0.7% | 226M+0.6% | 225M+1.1% | |
| Cash Flow | as ofDec 31 ’25 | as ofDec 31 ’24 | as ofDec 31 ’23 | as ofDec 31 ’22 | as ofDec 31 ’21 | |
| 340M+63.7% | 208M+36.7% | 152M+210.0% | 49.1M-91.1% | 550M+1538.5% | ||
| Depreciation & amortization | 104M-14.7% | 122M-16.1% | 146M-0.9% | 147M-14.6% | 172M-34.7% | |
| Intangible amortization | 39.6M-13.7% | 45.9M-28.5% | 64.2M+0.2% | 64.1M-3.2% | 66.2M-54.3% | |
| Share-based compensation | 58.2M+63.5% | 35.6M-34.2% | 54.1M+34.2% | 40.3M-30.8% | 58.2M+38.6% | |
| -21.1M-126.0% | 81.2M+66.1% | 48.9M+140.5% | -121M+83.9% | -750M-190.7% | ||
| Capital expenditure | 47.4M+15.6% | 41.0M-19.6% | 51.0M+0.6% | 50.7M-5.8% | 53.8M+31.2% | |
| Free cash flow | 293M+75.4% | 167M+65.0% | 101M+6425.0% | -1.60M-100.3% | 496M+725.9% | |
| Acquisitions | 4.90M | 0.00 | 0.00-100.0% | 32.8M+368.6% | 7.00M-93.6% | |
| Other investing activities | -8.60M-561.5% | -1.30M+80.9% | -6.80M-163.0% | 10.8M+5500.0% | -200K-102.4% | |
| -351M-38.3% | -253M-109.8% | -121M-52.3% | -79.3M-20.5% | -65.8M-111.5% | ||
| Long-term debt issued | 0.00 | 0.00-100.0% | 2.40B | 0.00 | 0.00-100.0% | |
| Long-term debt repaid | 300M+49.7% | 200M-91.7% | 2.40B+8907.5% | 26.7M+0.0% | 26.7M+33.5% | |
| Common stock issued | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |
| Common stock repurchased | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |
| Dividends paid | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |
| Other financing activities | -200K-105.4% | 3.70M+236.4% | 1.10M-62.1% | 2.90M-54.7% | 6.40M+42.2% | |
| FX effect on cash | 20.1M+189.7% | -22.4M-1278.9% | 1.90M+109.3% | -20.4M-155.0% | -8.00M-150.3% | |
| Net change in cash | — | — | — | -151M+43.2% | -266M-196.3% | |
| Interest paid | 217M-17.9% | 264M+13.1% | 233M+28.6% | 181M+9.0% | 166M+5.0% | |
| Income taxes paid | 59.3M-14.2% | 69.1M-21.9% | 88.5M-58.9% | 215M+363.2% | 46.5M-9.2% | |
| Valuation Ratios | as ofDec 31 ’25 | as ofDec 31 ’24 | as ofDec 31 ’23 | as ofDec 31 ’22 | as ofDec 31 ’21 | |
| Market cap | 3.75B+24.9% | 3.00B+22.4% | 2.45B-12.7% | 2.81B-43.7% | 4.99B+51.6% | |
| P/E | 42.6×+85.9% | 22.9× | — | 9.0×-54.9% | 20.0× | |
| P/S | 0.4×+14.7% | 0.3×+24.3% | 0.3×-5.9% | 0.3×-48.9% | 0.5×+26.6% | |
| P/B | 1.9×+12.1% | 1.7×+9.6% | 1.6×-12.4% | 1.8×-48.3% | 3.4×+14.6% | |
| P/FCF | 12.8×-28.8% | 18.0×+11.7% | 16.1×-78.1% | 73.6×+630.9% | 10.1× | |
| Earnings yield | 2.3%-46.2% | 4.4% | — | 11.1%+121.8% | 5.0% | |
| FCF yield | 7.8%+40.5% | 5.6%-10.5% | 6.2%+357.2% | 1.4%-86.3% | 9.9% | |
| Source filing | 10-K | 10-K | 10-K | 10-K | 10-K |
About this data
Source: CWK’s SEC filings (10-K / 10-Q). Annual columns are as-reported fiscal years; quarterly columns are as-reported fiscal quarters (Q4 derived as full-year minus the first three quarters where a company doesn’t file a standalone Q4); TTM (quarterly) rolls the trailing four quarters at every quarter end, TTM (yearly) samples that one year apart; balance-sheet rows show the period-end balance. Valuation ratios are sampled as of each period end. View all CWK filings on SEC EDGAR → Not investment advice.