📊 CWK Key Takeaways
Investment Thesis
Cushman & Wakefield demonstrates solid revenue growth (+8.9% YoY) and generates meaningful free cash flow ($293M), but profitability has deteriorated significantly with net income declining 32.8% YoY despite revenue expansion, indicating operational challenges and margin compression. The company maintains reasonable liquidity and moderate leverage, though its thin net margin of 0.9% and weak return metrics (ROE 4.5%, ROA 1.1%) suggest limited profitability relative to its asset base and equity capital.
CWK Strengths
- Strong revenue growth of 8.9% YoY demonstrates market demand and business expansion
- Solid free cash flow generation of $293M provides financial flexibility and capital allocation options
- Adequate liquidity with current ratio of 1.10x and cash position of $784.2M supports operational needs
- Moderate debt-to-equity ratio of 1.34x indicates manageable leverage relative to peers in real estate services
CWK Risks
- Net income declined 32.8% YoY while revenue grew, signaling severe margin compression and operational inefficiency
- Extremely thin net margin of 0.9% leaves minimal cushion for market downturns or unexpected costs
- Weak return on equity (4.5%) and return on assets (1.1%) suggest inefficient capital deployment and value creation
- Interest coverage ratio of 2.6x indicates limited ability to handle additional debt or rising interest rate environments
- Significant insider activity (17 Form 4 filings in 90 days) warrants monitoring for potential negative signaling
Key Metrics to Watch
- Quarterly net margin trend - critical to verify if 32.8% YoY decline is stabilizing or accelerating
- Operating cash flow sustainability - monitor if $340.4M level can be maintained amid profitability pressure
- Interest coverage ratio - track given elevated debt levels and potential rate environment impacts
- Return on equity trajectory - assess management's ability to improve capital efficiency going forward
CWK Financial Metrics
💡 AI Analyst Insight
The relatively thin 2.8% FCF margin may limit capital allocation flexibility.
CWK Profitability Ratios
CWK vs Default Sector
How Cushman & Wakefield Ltd. compares to Default sector averages
Sector benchmarks are approximate industry averages. Actual sector performance may vary.
CWK Balance Sheet & Liquidity
CWK 5-Year Financial Trend
5-Year Trend Summary: Cushman & Wakefield Ltd.'s revenue has shown modest growth of 10% over the 5-year period. The most recent EPS of $-0.16 indicates the company is currently unprofitable.
CWK Growth Metrics (YoY)
CWK Quarterly Performance
| Quarter | Revenue | Net Income | EPS |
|---|---|---|---|
| Q3 2025 | $2.3B | $18.4M | $0.08 |
| Q2 2025 | $2.3B | $13.5M | $0.06 |
| Q1 2025 | $2.2B | $1.9M | $0.01 |
| Q3 2024 | $2.3B | $18.4M | $0.08 |
| Q2 2024 | $2.3B | $5.1M | $0.02 |
| Q1 2024 | $2.2B | -$28.8M | $-0.13 |
| Q3 2023 | $2.3B | $23.9M | $0.11 |
| Q2 2023 | $2.4B | $5.1M | $0.02 |
Data sourced from SEC EDGAR 10-Q quarterly filings. Figures may represent quarterly or cumulative values.
CWK Capital Allocation
CWK SEC Filings
Access official SEC EDGAR filings for Cushman & Wakefield Ltd. (CIK: 0001628369)
📋 Recent SEC Filings
| Date | Form | Document | Action |
|---|---|---|---|
| Mar 4, 2026 | 4 | xslF345X05/wk-form4_1772658185.xml | View → |
| Mar 2, 2026 | 4 | xslF345X05/wk-form4_1772485867.xml | View → |
| Mar 2, 2026 | 4 | xslF345X05/wk-form4_1772485849.xml | View → |
| Mar 2, 2026 | 4 | xslF345X05/wk-form4_1772485481.xml | View → |
| Mar 2, 2026 | 4 | xslF345X05/wk-form4_1772485426.xml | View → |
❓ Frequently Asked Questions about CWK
What is the AI rating for CWK?
Cushman & Wakefield Ltd. (CWK) has an AI rating of HOLD with 62% confidence, based on fundamental analysis of SEC EDGAR filings.
What are CWK's key strengths?
Strong revenue growth of 8.9% YoY demonstrates market demand and business expansion. Solid free cash flow generation of $293M provides financial flexibility and capital allocation options.
What are the risks of investing in CWK?
Net income declined 32.8% YoY while revenue grew, signaling severe margin compression and operational inefficiency. Extremely thin net margin of 0.9% leaves minimal cushion for market downturns or unexpected costs.
What is CWK's revenue and growth?
Cushman & Wakefield Ltd. reported revenue of $10.3B.
Does CWK pay dividends?
Cushman & Wakefield Ltd. does not currently pay dividends.
Where can I find CWK SEC filings?
Official SEC filings for Cushman & Wakefield Ltd. (CIK: 0001628369) including 10-K, 10-Q, and 8-K reports are available on SEC EDGAR.
What is CWK's EPS?
Cushman & Wakefield Ltd. has a diluted EPS of $0.38.
How is the AI analysis conducted?
Our AI (Claude) analyzes publicly available SEC EDGAR filings including 10-K annual reports and 10-Q quarterly reports to evaluate financial health, profitability ratios, balance sheet strength, and growth metrics.