(CWK) Cushman & Wakefield - Overview
Sector: Real Estate | Industry: Real Estate Services | Exchange: NYSE (USA) | Market Cap: 3.020m USD | Total Return: 27.9% in 12m
Avg Turnover: 21.7M
EPS Trend: 58.0%
Qual. Beats: 0
Rev. Trend: 65.6%
Qual. Beats: 2
Warnings
High Debt/EBITDA (6.2) with thin interest coverage (1.4)
Altman Z'' -0.04 < 1.0 - financial distress zone
Choppy Below Avwap Earnings
Tailwinds
No distinct edge detected
Cushman & Wakefield plc (NYSE: CWK) is a global commercial real estate services firm operating across the Americas, EMEA, and Asia Pacific. Founded in 1784 and based in Chicago, the company provides a comprehensive suite of services including facilities management, property management, leasing representation, and capital markets advisory. Its client base encompasses real estate owners and multinational occupiers seeking integrated solutions for portfolio administration and valuation.
The company operates within the capital-light real estate services sector, a model that prioritizes recurring revenue streams through long-term management contracts rather than direct property ownership. This industry is highly fragmented, with major players competing on the scale of their global networks and the breadth of their technical consulting capabilities. Investors may find it useful to examine ValueRay for further data on this sector.
- Interest rate fluctuations impact commercial real estate transaction volumes and capital markets revenue
- Corporate office downsizing trends reduce long-term demand for global leasing and advisory services
- Growth in recurring property and facilities management fees provides defensive revenue stability
- Refinancing activity levels dictate debt and structured finance service fee generation
- Labor costs and talent retention expenses influence operating margins across service segments
| Net Income: 73.7m TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.03 > 0.02 and ΔFCF/TA 1.01 > 1.0 |
| NWC/Revenue: 3.05% < 20% (prev 4.21%; Δ -1.15% < -1%) |
| CFO/TA 0.03 > 3% & CFO 258.9m > Net Income 73.7m |
| Net Debt (2.52b) to EBITDA (408.2m): 6.17 < 3 |
| Current Ratio: 1.13 > 1.5 & < 3 |
| Outstanding Shares: last quarter (235.5m) vs 12m ago 1.38% < -2% |
| Gross Margin: 16.73% > 18% (prev 0.18%; Δ 1.65k% > 0.5%) |
| Asset Turnover: 140.0% > 50% (prev 128.9%; Δ 11.13% > 0%) |
| Interest Coverage Ratio: 1.43 > 6 (EBITDA TTM 408.2m / Interest Expense TTM 213.1m) |
| A: 0.04 (Total Current Assets 2.75b - Total Current Liabilities 2.43b) / Total Assets 7.65b |
| B: -0.12 (Retained Earnings -910.3m / Total Assets 7.65b) |
| C: 0.04 (EBIT TTM 305.4m / Avg Total Assets 7.53b) |
| D: -0.19 (Book Value of Equity -1.08b / Total Liabilities 5.70b) |
| Altman-Z'' = -0.04 = B |
| DSRI: 1.00 (Receivables 1.45b/1.31b, Revenue 10.5b/9.55b) |
| GMI: 1.10 (GM 16.73% / 18.42%) |
| AQI: 0.97 (AQ_t 0.57 / AQ_t-1 0.59) |
| SGI: 1.10 (Revenue 10.5b / 9.55b) |
| TATA: -0.02 (NI 73.7m - CFO 258.9m) / TA 7.65b) |
| Beneish M = -2.90 (Cap -4..+1) = A |
As of May 29, 2026, the stock is trading at USD 12.76 with a total of 1,671,765 shares traded.
Over the past week, the price has changed by -0.78%,
over one month by -12.00%,
over three months by -4.85% and
over the past year by +27.86%.
Cushman & Wakefield has received a consensus analysts rating of 3.40. Therefore, it is recommended to hold CWK.
- StrongBuy: 1
- Buy: 3
- Hold: 5
- Sell: 1
- StrongSell: 0
| Analysts Target Price | 17.7 | 38.6% |
P/E Trailing = 40.2813
P/E Forward = 9.2764
P/S = 0.2866
P/B = 1.547
P/EG = 0.2434
Revenue TTM = 10.5b USD
EBIT TTM = 305.4m USD
EBITDA TTM = 408.2m USD
Long Term Debt = 2.62b USD (from longTermDebt, last quarter)
Short Term Debt = 129.8m USD (from shortTermDebt, last quarter)
Debt = 3.12b USD (corrected: LT Debt 2.62b + ST Debt 129.8m) + Leases 369.2m
Net Debt = 2.52b USD (calculated: Debt 3.12b - CCE 600.6m)
Enterprise Value = 5.54b USD (3.02b + Debt 3.12b - CCE 600.6m)
Interest Coverage Ratio = 1.43 (Ebit TTM 305.4m / Interest Expense TTM 213.1m)
EV/FCF = 25.43x (Enterprise Value 5.54b / FCF TTM 217.8m)
FCF Yield = 3.93% (FCF TTM 217.8m / Enterprise Value 5.54b)
FCF Margin = 2.07% (FCF TTM 217.8m / Revenue TTM 10.5b)
Net Margin = 0.70% (Net Income TTM 73.7m / Revenue TTM 10.5b)
Gross Margin = 16.73% ((Revenue TTM 10.5b - Cost of Revenue TTM 8.78b) / Revenue TTM)
Gross Margin QoQ = 14.59% (prev 17.97%)
Tobins Q-Ratio = 0.72 (Enterprise Value 5.54b / Total Assets 7.65b)
Interest Expense / Debt = 6.83% (Interest Expense 213.1m / Debt 3.12b)
Taxrate = 22.77% (26.0m / 114.2m)
NOPAT = 235.9m (EBIT 305.4m * (1 - 22.77%))
Current Ratio = 1.13 (Total Current Assets 2.75b / Total Current Liabilities 2.43b)
Debt / Equity = 1.60 (Debt 3.12b / totalStockholderEquity, last quarter 1.95b)
Debt / EBITDA = 6.17 (Net Debt 2.52b / EBITDA 408.2m)
Debt / FCF = 11.57 (Net Debt 2.52b / FCF TTM 217.8m)
Total Stockholder Equity = 1.94b (last 4 quarters mean from totalStockholderEquity)
RoA = 0.98% (Net Income 73.7m / Total Assets 7.65b)
RoE = 2.58% (Net Income TTM 73.7m / Total Stockholder Equity 2.85b)
RoCE = 5.58% (EBIT 305.4m / Capital Employed (Equity 2.85b + L.T.Debt 2.62b))
RoIC = 4.41% (NOPAT 235.9m / Invested Capital 5.35b)
WACC = 8.41% (E(3.02b)/V(6.14b) * Re(11.64%) + D(3.12b)/V(6.14b) * Rd(6.83%) * (1-Tc(0.23)))
Discount Rate = 11.64% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: 68.89 | Cagr: 1.27%
[DCF] Terminal Value 77.79% ; FCFF base≈185.1m ; Y1≈212.2m ; Y5≈312.2m
[DCF] Fair Price = 9.11 (EV 4.65b - Net Debt 2.52b = Equity 2.13b / Shares 234.3m; r=8.41% [WACC]; 5y FCF grow 15.0% → 2.50% )
EPS Correlation: 57.95 | EPS CAGR: 12.79% | SUE: 0.36 | # QB: 0
Revenue Correlation: 65.61 | Revenue CAGR: 2.88% | SUE: 0.89 | # QB: 2
EPS current Quarter (2026-06-30): EPS=0.34 | Chg30d=+0.38% | Revisions=+11% | Analysts=10
EPS next Quarter (2026-09-30): EPS=0.36 | Chg30d=+0.53% | Revisions=-33% | Analysts=10
EPS current Year (2026-12-31): EPS=1.45 | Chg30d=+0.38% | Revisions=-20% | GrowthEPS=+18.7% | GrowthRev=+7.5%
EPS next Year (2027-12-31): EPS=1.69 | Chg30d=-0.01% | Revisions=+9% | GrowthEPS=+16.9% | GrowthRev=+5.7%
[Analyst] Revisions Ratio: -33%