Cushman & Wakefield (CWK) AI Stock Analysis

• Market Cap: $3.83B
• Dividend Yield: N/A
• Average Volume (3M): 1.89M
• Price to Earnings (P/E): 17.3
• Beta (1Y): 1.48
• Revenue Growth: 6.77%
• EPS Growth: 150.72%
• Country: US
• Employees: 52,000
• Sector: Real Estate
• Sector Strength: 53
• Industry: Real Estate - Services
• EPS (TTM): 0.29
• Shares Outstanding: 231,604,550
• 10 Day Avg. Volume: 2,436,384
• 30 Day Avg. Volume: 1,893,970
• PEG Ratio: -0.05
• Price to Book (P/B): 1.71
• Price to Sales (P/S): 0.32
• P/FCF Ratio: 17.93
• Enterprise Value/Market Cap: 0.90
• Enterprise Value/Revenue: 0.34
• Enterprise Value/Gross Profit: 1.93
• Enterprise Value/Ebitda: 6.05
• 1Y Price Target: $17.42
• Price Target Upside: 5.38% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 7
• EPS Forecast (FY): 1.22
• Revenue Forecast (FY): $7.03B

• Rating: 69 Neutral
• Price Target: $17.50 ▲(5.87% Upside)

Cushman & Wakefield's overall stock score is driven by strong earnings call results and positive corporate events, indicating strategic growth and financial stability. However, technical indicators and cash flow challenges suggest caution.

Positive Factors

Revenue Growth

The consistent revenue growth indicates strong market demand and effective business strategies, supporting long-term financial health.

Debt Reduction

Significant debt reduction enhances financial stability and flexibility, allowing for strategic investments and growth opportunities.

Strategic Partnerships

Long-term partnerships with major clients like BHP strengthen revenue streams and market position, ensuring sustained business growth.

Negative Factors

Cash Flow Challenges

Ongoing cash flow challenges can hinder investment in growth initiatives and limit financial flexibility, impacting long-term operations.

APAC Revenue Decline

Declining revenues in APAC could signal regional market challenges, potentially affecting overall growth and profitability.

Earnings from Investments

Losses from investments can strain profitability and indicate potential issues in strategic investment decisions, impacting future earnings.

Cushman & Wakefield Business Overview & Revenue Model

Company Description

Cushman & Wakefield plc, together with its subsidiaries, provides commercial real estate services under the Cushman & Wakefield brand in the United States, Australia, the United Kingdom, and internationally. The company operates through Americas; Europe, Middle East, and Africa; and Asia Pacific segments. It offers integrated facilities management, project and development, portfolio administration, transaction management, and strategic consulting services; property management services, including client accounting, engineering and operations, lease compliance administration, project and development, and sustainability services; and self-performed facilities services, which include janitorial, maintenance, critical environment management, landscaping, and office services. The company also provides owner representation and tenant representation leasing services; capital market services, including investment sales and equity, and debt and structured financing for real estate purchase and sales transactions; and appraisal management, investment management, valuation advisory, portfolio advisory, diligence advisory, dispute analysis and litigation support, financial reporting, and property and/or portfolio valuation services on real estate debt and equity decisions. Cushman & Wakefield has strategic partnerships with Vanke Service (Hong Kong) Co., Limited. It serves real estate owners and occupiers, such as tenants, investors, and multi-national corporations. Cushman & Wakefield plc was founded in 1784 and is based in London, the United Kingdom.

How the Company Makes Money

Cushman & Wakefield generates revenue through multiple key streams, primarily from service fees associated with property management, leasing commissions, and advisory services. The company earns a substantial portion of its income from transaction services, where it facilitates the buying, selling, and leasing of commercial properties, charging fees based on transaction value. Additionally, CWK derives revenue from asset management services, providing strategic advice and operational management to enhance the value of real estate investments. Significant partnerships with institutional investors and real estate owners also contribute to its earnings, as these relationships often lead to ongoing management contracts and advisory engagements. Furthermore, the company's focus on technology and data analytics enhances operational efficiency and client service, further supporting its revenue-generating capabilities.

Cushman & Wakefield Financial Statement Overview

Summary

Cushman & Wakefield shows positive revenue growth and improved profitability margins, with reduced leverage. However, cash flow challenges and historical fluctuations in financial metrics suggest caution.

Income Statement

Cushman & Wakefield shows a positive revenue growth rate of 2.69% in the TTM, indicating a recovery from previous declines. The gross profit margin is stable at 17.81%, while the net profit margin has improved to 2.23%, reflecting enhanced profitability. EBIT and EBITDA margins have also improved, suggesting better operational efficiency. However, historical fluctuations in revenue growth and profitability margins pose a risk.

Balance Sheet

The company has significantly reduced its debt-to-equity ratio to 0.20 in the TTM, indicating improved financial stability. Return on equity has increased to 12.09%, showcasing effective use of equity to generate profits. The equity ratio stands at 25.45%, reflecting a balanced capital structure. Despite improvements, past high leverage levels remain a concern.

Cash Flow

Operating cash flow to net income ratio is low at 0.08, indicating potential challenges in converting income into cash. Free cash flow growth is negative at -8.35%, highlighting cash generation issues. However, the free cash flow to net income ratio of 0.65 suggests some ability to generate cash relative to earnings. Historical volatility in cash flows presents a risk.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	10.00B	9.45B	9.49B	10.11B	9.39B	7.84B
Gross Profit	1.78B	1.73B	1.65B	1.95B	1.94B	1.39B
EBITDA	569.20M	510.70M	494.50M	780.20M	795.70M	385.80M
Net Income	223.50M	131.30M	-35.40M	196.40M	250.00M	-220.50M
Balance Sheet
Total Assets	7.69B	7.55B	7.77B	7.95B	7.89B	7.34B
Cash, Cash Equivalents and Short-Term Investments	634.40M	793.30M	767.70M	644.50M	770.70M	1.07B
Total Debt	3.11B	3.31B	3.57B	3.60B	3.66B	3.96B
Total Liabilities	5.73B	5.79B	6.10B	6.29B	6.44B	6.24B
Stockholders Equity	1.96B	1.75B	1.68B	1.66B	1.45B	1.09B
Cash Flow
Free Cash Flow	178.50M	167.00M	101.20M	-1.60M	495.70M	-79.20M
Operating Cash Flow	198.30M	208.00M	152.20M	49.10M	549.50M	-38.20M
Investing Cash Flow	-62.10M	81.20M	48.90M	-120.70M	-749.50M	-257.80M
Financing Cash Flow	-289.00M	-253.40M	-120.80M	-79.30M	-65.80M	571.90M

Cushman & Wakefield Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 16.53
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Neutral
• STOCH: Negative

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For CWK, the sentiment is Positive. The current price of 16.53 is above the 20-day moving average (MA) of 15.92, above the 50-day MA of 15.91, and above the 200-day MA of 13.03, indicating a bullish trend. The MACD of 0.10 indicates Negative momentum. The RSI at 61.40 is Neutral, neither overbought nor oversold. The STOCH value of 96.31 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for CWK.

Cushman & Wakefield Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
JLL	79 Outperform	$16.37B	26.59	9.14%	―	12.51%	32.34%
CBRE	70 Outperform	$49.08B	40.74	14.26%	―	14.61%	30.19%
CWK	69 Neutral	$3.83B	17.33	12.21%	―	6.77%	150.72%
Sector *	65 Neutral	$2.17B	12.19	3.79%	4.94%	3.15%	1.96%
CSGP	61 Neutral	$28.35B	1,301.36	0.25%	―	14.61%	-87.93%
NMRK	59 Neutral	$3.20B	30.59	8.08%	0.68%	22.22%	94.52%
MMI	56 Neutral	$1.08B	-161.02	-1.09%	1.80%	20.74%	78.92%

Cushman & Wakefield Corporate Events

Cushman & Wakefield Sets Ambitious 2026-2028 Targets

Cushman & Wakefield announced its financial targets for 2026-2028 during an investor day scheduled for December 4, 2025. The company aims for significant growth, including a 15-20% annual increase in adjusted earnings per share and a 6-8% rise in organic fee revenue. By 2028, it targets a 200% increase in cross-sell fee revenue and a 96% client retention rate. The company also plans to improve its net debt leverage to 2x by the end of 2028, with a strong free cash flow conversion expected to result in approximately $800 million in cumulative free cash flow starting in 2026. These strategic goals are part of Cushman & Wakefield’s broader effort to enhance client relationships and transform its platform for better productivity and revenue generation.

Cushman & Wakefield Amends Credit Agreement

On October 21, 2025, Cushman & Wakefield announced an amendment to its Credit Agreement, reducing revolving commitments from $1.1 billion to $1 billion and extending the maturity date to October 21, 2030. This move, which was oversubscribed, reflects lender confidence in the company’s financial strategy and aims to enhance capital efficiency and liquidity.

Cushman & Wakefield Shareholders Approve Redomiciliation Plan

On October 16, 2025, Cushman & Wakefield shareholders approved the company’s plan to change its jurisdiction of incorporation from England and Wales to Bermuda. This decision was made during a series of shareholder meetings where various proposals, including the issuance of new shares and governance changes, were overwhelmingly supported. The redomiciliation is expected to reduce administrative burdens and costs while maintaining strong corporate governance and capital flexibility. The company plans to finalize the redomiciliation by November 27, 2025, subject to legal and regulatory procedures.

Cushman & Wakefield Successfully Reprices $840 Million Loan

On October 2, 2025, Cushman & Wakefield announced the successful repricing of its $840 million Term Loan, reducing the interest rate by 25 basis points. This move, part of the company’s strategy for debt reduction and disciplined growth, reflects strong momentum and lender support, having already prepaid $200 million of its Term Loan in 2025.