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Investment Highlights Market Valuation Price Chart Return vs. Risk About CWK Interactive Breakdown Better Bets vs. CWK Latest Trefis Analyses Trade Ideas Recent Active Movers More From Trefis Peer Financials Peer Growth & Margins Peer Valuation Peer Returns Peer Analyses FDIC Bank Data Financials Segment Financials Price Behavior Short Interest Earnings Returns History SEC Filings Insider Activity Industry Resource Links External Quote Links

Cushman & Wakefield (CWK)

Market Price (11/7/2025): $15.58 | Market Cap: $3.6 Bil
Sector: Real Estate | Industry: Real Estate Services

Cushman & Wakefield (CWK)

Market Price (11/7/2025): $15.58
Market Cap: $3.6 Bil
Sector: Real Estate
Industry: Real Estate Services

Investment Highlights Why It Matters Which of these 2 stories sounds closer for this stock?

1. Generates cash flow

The stock generated 4% or more of the share price (called cash flow yield), and shows moderate 10-15% or more growth.

2. Riding a trend

Think Tesla during the pandemic of 2020 when EVs were riding a cultural high, or Nvidia in the current AI boom, or even Figma. These companies don’t have enough yield, or, enough growth, or both - however - they are riding a trend. They have momentum. These can be more volatile - they don’t have the floor of strong cash flow

0 Attractive yield
Total YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 6.3%		 Weak multi-year price returns
3Y Excs Rtn is -43%		 Debt is significant
Net D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is 69%
1 Low stock price volatility
Vol 12M is 43%		  Weak revenue growth
Rev Chg 3Y AvgRevenue Change % averaged over trailing 3 years is -0.9%
0 Attractive yield
Total YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 6.3%
1 Low stock price volatility
Vol 12M is 43%
2 Weak multi-year price returns
3Y Excs Rtn is -43%
3 Debt is significant
Net D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is 69%
4 Weak revenue growth
Rev Chg 3Y AvgRevenue Change % averaged over trailing 3 years is -0.9%

Market Valuation & Key Metrics

CWKS&P 500
REVENUE GROWTH 
Rev LTM ($ Bil)10.0
Rev Chg Q11.2%7.1%
Rev Chg LTM6.8%6.0%
Rev Chg 3Y Avg-0.9%5.5%
PROFITABILITYVERY POOR
Op Inc LTM ($ Bil)0.5
CFO LTM ($ Bil)0.2
Net Inc LTM ($ Bil)0.2
Op Mgn LTM4.6%18.8%
CFO/Rev LTM2.0%20.5%
Net Inc Mgn2.2%12.9%
VALUATIONLOW
P/S0.43.1
P/CFO18.215.1
P/FCF21.919.7
P/E16.123.5

AI Generated Analysis | Feedback

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CWK Stock

               
           
Factor Drivers of Stock Movement
The 50.6% change in CWK stock from 5/8/2025 to 11/6/2025 was primarily driven by a 31.7% change in the company's Net Income Margin (%).

508202511062025Change
Stock Price ($)10.2415.4250.59%
Change Contribution ByLTMLTM
Total Revenues ($ Mil)9546.3010003.904.79%
Net Income Margin (%)1.70%2.23%31.65%
P/E Multiple14.5615.979.67%
Shares Outstanding (Mil)230.40231.50-0.48%
Cumulative Contribution50.58%

LTM = Last Twelve Months as of date shown
The 5.4% change in CWK stock from 11/6/2024 to 11/6/2025 was primarily driven by a 137.3% change in the company's Net Income Margin (%).

1106202411062025Change
Stock Price ($)14.6315.425.40%
Change Contribution ByLTMLTM
Total Revenues ($ Mil)9369.4010003.906.77%
Net Income Margin (%)0.94%2.23%137.33%
P/E Multiple38.0315.97-58.01%
Shares Outstanding (Mil)229.30231.50-0.96%
Cumulative Contribution5.39%

LTM = Last Twelve Months as of date shown
The 43.0% change in CWK stock from 11/7/2022 to 11/6/2025 was primarily driven by a 105.1% change in the company's P/E Multiple.

1107202211062025Change
Stock Price ($)10.7815.4243.04%
Change Contribution ByLTMLTM
Total Revenues ($ Mil)10342.4010003.90-3.27%
Net Income Margin (%)3.02%2.23%-26.04%
P/E Multiple7.7915.97105.08%
Shares Outstanding (Mil)225.70231.50-2.57%
Cumulative Contribution42.95%

LTM = Last Twelve Months as of date shown
Why The Stock Moved

AI Generated Analysis | Feedback

I cannot provide specific key points for the stock movement of Cushman & Wakefield (CWK) for the approximate time period from July 31, 2025, to November 7, 2025. My capabilities do not extend to predicting future stock performance or market events. Therefore, I am unable to identify and highlight reasons for a hypothetical 26.5% stock movement within this future timeframe.

Show more

Return vs. Risk

Price Returns Compared

 202020212022202320242025Total [1]
Returns
CWK Return-27%50%-44%-13%21%18%-25%
Peers Return9%-8%-35%60%-12%59%46%
S&P 500 Return16%27%-19%24%23%14%108%

Monthly Win Rates [3]
CWK Win Rate42%58%42%42%42%60% 
Peers Win Rate33%25%20%32%22%60% 
S&P 500 Win Rate58%75%42%67%75%70% 

Max Drawdowns [4]
CWK Max Drawdown-61%-5%-53%-48%-14%-40% 
Peers Max Drawdown-15%-17%-36%-5%-18%-25% 
S&P 500 Max Drawdown-31%-1%-25%-1%-2%-15% 

[1] Cumulative total returns since the beginning of 2020
[2] Peers: OPEN, GBR, GYRO, HBNB, LHAI.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2025 data is for the year up to 11/6/2025 (YTD)

How Low Can It Go

Unique KeyEventCWKS&P 500
2022 Inflation Shock2022 Inflation Shock  
2022 Inflation Shock% Loss% Loss-71.8%-25.4%
2022 Inflation Shock% Gain to Breakeven% Gain to Breakeven255.1%34.1%
2022 Inflation ShockTime to BreakevenTime to BreakevenNot Fully Recovered days464 days
2020 Covid Pandemic2020 Covid Pandemic  
2020 Covid Pandemic% Loss% Loss-61.1%-33.9%
2020 Covid Pandemic% Gain to Breakeven% Gain to Breakeven156.9%51.3%
2020 Covid PandemicTime to BreakevenTime to Breakeven632 days148 days
2018 Correction2018 Correction  
2018 Correction% Loss% Loss-29.2%-19.8%
2018 Correction% Gain to Breakeven% Gain to Breakeven41.3%24.7%
2018 CorrectionTime to BreakevenTime to Breakeven121 days120 days

Compare to OPEN, GBR, GYRO, HBNB, LHAI


In The Past

Cushman & Wakefield's stock fell -71.8% during the 2022 Inflation Shock from a high on 2/16/2022. A -71.8% loss requires a 255.1% gain to breakeven.

Preserve Wealth

Limiting losses and compounding gains is essential to preserving wealth over time.

Asset Allocation

Actively managed asset allocation strategies protect wealth. Learn more.

About Cushman & Wakefield (CWK)

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Better Bets than Cushman & Wakefield (CWK)

 CWKBetter Performance than CWK
MetricValueIndustry (Real Estate Services)
Rev Chg LTM6.8%CBRE (15.0%), CSGP (14.6%), JLL (12.5%), CIGI (19.7%), COMP (24.3%)
Rev Chg 3Y Avg-0.9%CBRE (7.9%), CSGP (13.1%), JLL (6.3%), CIGI (6.5%), COMP (2.8%)
Op Mgn LTM4.6%CIGI (7.1%), NMRK (5.6%), IHS (38.1%), KW (13.5%), FRPH (23.6%)
CFO/Rev LTM2.0%CBRE (3.7%), CSGP (11.9%), JLL (4.4%), CIGI (5.3%), COMP (3.0%)
FCF/Rev LTM1.6%CBRE (2.9%), JLL (3.6%), CIGI (4.1%), COMP (2.8%), OPEN (9.9%)
Total Yield6.3%RMR (18.9%), RMAX (8.5%), CHCI (10.5%)
 CWKBetter Performance than CWK
MetricValueAll Other Sectors
Rev Chg LTM6.8%NVDA (71.6%), MSFT (15.6%), GOOGL (13.4%), AMZN (10.9%), AVGO (28.0%)
Rev Chg 3Y Avg-0.9%NVDA (92.0%), AAPL (1.8%), MSFT (13.2%), GOOGL (11.0%), AMZN (11.3%)
Op Mgn LTM4.6%NVDA (58.1%), AAPL (31.9%), MSFT (46.3%), GOOGL (32.2%), AMZN (11.4%)
CFO/Rev LTM2.0%NVDA (46.6%), AAPL (26.6%), MSFT (50.0%), GOOGL (39.3%), AMZN (18.1%)
FCF/Rev LTM1.6%NVDA (43.6%), AAPL (23.5%), MSFT (26.6%), GOOGL (19.1%), AMZN (2.0%)
Total Yield6.3%BRK-B (6.3%), JPM (6.7%), XOM (9.7%), JNJ (8.3%), BAC (7.5%)
 Best Bets In Real Estate Sector
 CWKCTRE WPC ADC NNN OHI O EPRT GLPI EPR FCPT
What You Pay           
P/E16.028.840.041.719.023.453.524.616.118.822.6
P/EBIT7.225.121.124.912.616.024.017.310.611.415.3
What You Get           
Rev Chg Q11.2%82.4%8.5%18.7%5.3%12.9%9.1%23.7%3.2%4.3%11.0%
Rev Chg LTM6.8%47.6%5.6%14.7%4.5%13.7%14.7%24.2%4.4%4.2%8.3%
Rev Chg 3Y Avg-0.9%21.2%5.6%19.5%6.0%6.3%21.5%24.2%7.4%3.9%9.5%
FCF/Rev 3Y Avg2.0%88.9%84.4%73.1%73.6%71.6%69.5%69.3%65.4%63.9%61.3%

[1] Choosing top 10 best bets from each sector quarterly is an alpha producing strategy vs sector benchmark
[2] Historical annualized return of 9.6%, alpha of 3.1%, and sharpe of 0.44

Latest Trefis Analyses

Trade Ideas

Select past ideas related to CWK. For more, see Trefis Trade Ideas.

Unique KeyDateTickerCompanyCategoryTrade Strategy6M Fwd Rtn12M Fwd Rtn12M Max DD
MPW_10312025_Short_Squeeze10312025MPWMedical Properties TrustSpecialShort Squeeze PotentialShort Squeeze Potential
Has potential for a short squeeze. High short interest, rising short interest and high debt.		-2.5%-2.5%-5.8%
Unique KeyDateTickerCompanyCategoryTrade Strategy6M Fwd Rtn12M Fwd Rtn12M Max DD
MPW_10312025_Short_Squeeze10312025MPWMedical Properties TrustSpecialShort Squeeze PotentialShort Squeeze Potential
Has potential for a short squeeze. High short interest, rising short interest and high debt.		-2.5%-2.5%-5.8%

Recent Active Movers

1 Week Top Gainers

TickerCompanyMkt Cap (B)1W RtnYTD Rtn
TERNTerns Pharmaceuticals1.7123.7%229.4%
CSIQCanadian Solar1.849.1%140.5%
BHFBrighthouse Financial3.843.8%36.8%
GDENGolden Entertainment0.739.4%-7.2%
CSTLCastle Biosciences1.038.6%25.9%
FSLYFastly1.637.5%16.2%
TDCTeradata2.735.5%-9.1%
HAEHaemonetics3.234.2%-14.0%
APPNAppian2.828.7%16.3%
MTSRMetsera8.628.0%81549900.0%

1 Week Top Losers

TickerCompanyMkt Cap (B)1W RtnYTD Rtn
SOCSable Offshore0.4-62.3%-78.9%
QUREuniQure1.5-59.5%55.8%
DDDuPont de Nemours16.4-51.9%-47.8%
BHVNBiohaven0.9-50.9%-77.2%
ASPNAspen Aerogels0.3-45.4%-65.4%
ACVAACV Auctions0.9-42.8%-76.4%
SVVSavers Value Village1.2-40.3%-22.9%
BLZEBackblaze0.3-40.2%2.7%
CCOICogent Communications1.2-38.0%-65.5%
ELFe.l.f. Beauty4.3-37.8%-39.0%

1 Month Top Gainers

TickerCompanyMkt Cap (B)1M RtnYTD Rtn
PRAXPraxis Precision Medicines3.7217.5%123.9%
VTYXVentyx Biosciences0.7141.8%322.8%
INBXInhibrx Biosciences1.3141.0%425.9%
TERNTerns Pharmaceuticals1.7120.9%229.4%
PUMPProPetro1.188.9%15.2%
CSIQCanadian Solar1.887.1%140.5%
REPLReplimune0.886.0%-29.8%
VICRVicor4.072.9%84.2%
GLUEMonte Rosa Therapeutics1.168.7%87.5%
ESTAEstablishment Labs1.961.8%40.9%

1 Month Top Losers

TickerCompanyMkt Cap (B)1M RtnYTD Rtn
SOCSable Offshore0.4-75.7%-78.9%
FMCFMC1.6-57.3%-72.1%
QUREuniQure1.5-54.1%55.8%
ONDSOndas0.8-53.4%105.1%
FIFiserv33.9-51.3%-70.0%
LRNStride3.0-51.2%-32.1%
ASPNAspen Aerogels0.3-50.5%-65.4%
DDDuPont de Nemours16.4-50.0%-47.8%
NTLAIntellia Therapeutics1.3-49.7%5.7%
ELFe.l.f. Beauty4.3-47.2%-39.0%

Recent Active Movers

1 Week Top Gainers

TickerCompanyMkt Cap (B)1W RtnYTD Rtn
TERNTerns Pharmaceuticals1.7123.7%229.4%
CSIQCanadian Solar1.849.1%140.5%
BHFBrighthouse Financial3.843.8%36.8%
GDENGolden Entertainment0.739.4%-7.2%
CSTLCastle Biosciences1.038.6%25.9%
FSLYFastly1.637.5%16.2%
TDCTeradata2.735.5%-9.1%
HAEHaemonetics3.234.2%-14.0%
APPNAppian2.828.7%16.3%
MTSRMetsera8.628.0%81549900.0%

1 Week Top Losers

TickerCompanyMkt Cap (B)1W RtnYTD Rtn
SOCSable Offshore0.4-62.3%-78.9%
QUREuniQure1.5-59.5%55.8%
DDDuPont de Nemours16.4-51.9%-47.8%
BHVNBiohaven0.9-50.9%-77.2%
ASPNAspen Aerogels0.3-45.4%-65.4%
ACVAACV Auctions0.9-42.8%-76.4%
SVVSavers Value Village1.2-40.3%-22.9%
BLZEBackblaze0.3-40.2%2.7%
CCOICogent Communications1.2-38.0%-65.5%
ELFe.l.f. Beauty4.3-37.8%-39.0%

More From Trefis

Research & Analysis

Invest in Strategies

Wealth Management

Peer Comparisons for Cushman & Wakefield

Financials

CWKOPENGBRGYROHBNBLHAIMedian
NameCushman .Opendoor.New Conc.Gyrodyne Hotel101.Linkhome  
Mkt Price15.426.560.919.725.3210.758.14
Mkt Cap3.64.80.00.0--1.8
Rev LTM10,0045,18105-1515
Op Inc LTM461-204-0-3-1-0
FCF LTM165511-0-2-11
FCF 3Y Avg1881,094049--118
CFO LTM198526-0-2-11
CFO 3Y Avg2291,122049--139

Growth & Margins

CWKOPENGBRGYROHBNBLHAIMedian
NameCushman .Opendoor.New Conc.Gyrodyne Hotel101.Linkhome  
Rev Chg LTM6.8%14.1%4.1%-1.2%-215.1%6.8%
Rev Chg 3Y Avg-0.9%-24.2%5.8%2.1%--0.6%
Rev Chg Q11.2%3.7%8.1%-1.8%-116.2%8.1%
QoQ Delta Rev Chg LTM2.7%1.1%2.0%-0.2%-21.2%2.0%
Op Mgn LTM4.6%-3.9%-166.9%-50.0%-7.3%-3.9%
Op Mgn 3Y Avg3.5%-7.4%-141.8%-153.7%---74.6%
QoQ Delta Op Mgn LTM0.1%1.3%-1.3%2.6%--2.0%0.1%
CFO/Rev LTM2.0%10.2%-26.5%-43.8%-5.5%2.0%
CFO/Rev 3Y Avg2.4%5.9%0.0%1,138.1%--4.1%
FCF/Rev LTM1.6%9.9%-26.5%-43.8%-5.5%1.6%
FCF/Rev 3Y Avg2.0%5.4%0.0%1,136.7%--3.7%

Valuation

CWKOPENGBRGYROHBNBLHAIMedian
NameCushman .Opendoor.New Conc.Gyrodyne Hotel101.Linkhome  
Mkt Cap3.64.80.00.0--1.8
P/S0.40.930.90.3--0.6
P/EBIT7.2-28.1-18.5-0.6---9.6
P/E16.0-15.7-76.627.0--0.1
P/CFO18.09.1-116.8-0.6--4.3
Total Yield6.3%-6.4%-1.3%3.7%--1.2%
Dividend Yield0.0%0.0%0.0%0.0%--0.0%
FCF Yield 3Y Avg7.1%61.1%0.1%3,141.7%--34.1%
D/E0.90.50.012.9--0.7
Net D/E0.70.3-0.13.2--0.5

Returns

CWKOPENGBRGYROHBNBLHAIMedian
NameCushman .Opendoor.New Conc.Gyrodyne Hotel101.Linkhome  
1M Rtn1.6%-29.4%-9.9%-2.8%71.7%17.7%-0.6%
3M Rtn15.2%254.6%2.2%-3.9%209.5%43.1%29.2%
6M Rtn50.6%652.3%11.0%28.7%--39.7%
12M Rtn5.4%268.5%-22.2%-7.4%---1.0%
3Y Rtn43.0%278.1%-30.0%-2.8%--20.1%
1M Excs Rtn4.3%-22.2%-10.3%-1.1%67.4%21.8%1.6%
3M Excs Rtn7.5%231.2%5.8%-9.0%199.1%38.2%22.8%
6M Excs Rtn31.9%633.6%-7.7%10.1%--21.0%
12M Excs Rtn-0.3%237.0%-39.2%-23.3%---11.8%
3Y Excs Rtn-42.6%94.6%-107.4%-69.9%---56.2%

Financials

$ Mil | FY: 12/312025Q32025Q22025Q12024Q42024Q32024Q22024Q12023Q42023Q32023Q22023Q12022Q4
Period End9/30/20256/30/20253/31/202512/31/20249/30/20246/30/20243/31/202412/31/20239/30/20236/30/20233/31/202312/31/2022
Filing Date10/30/20258/5/20254/29/20252/21/202511/5/20247/30/20244/30/20242/21/202410/31/20238/1/20235/5/20232/24/2023
Key Financials Quarterly            
Total Revenue2,6062,4842,2852,6302,3442,2882,1852,5522,2862,4062,2492,647
Net Income515721133414-2970-345-7630
EPS0.220.250.010.490.150.06-0.130.31-0.150.02-0.340.13
Key Financials TTM            
Total Revenue TTM10,0049,7429,5469,4469,3699,3119,4299,4949,5889,81710,02410,106
Net Income TTM224206162131882112-35-75-1874196
Growth Rates Quarterly            
Total Revenue Growth11.2%8.6%4.6%3.0%2.5%-4.9%-2.9%-3.6%-9.1%-7.9%-3.5%-8.2%
Net Income Growth52.5%324.4%106.6%61.7%199.4%164.7%62.3%134.2%-241.8%-94.8%-267.9%-79.6%
Margins Quarterly            
Net Income Margin2.0%2.3%0.1%4.3%1.4%0.6%-1.3%2.7%-1.5%0.2%-3.4%1.1%
Cash & Debt            
Total Cash634618623793775567554768588502460644
Total Debt3,1103,2423,2743,3133,3733,4273,4883,5663,5503,5883,5943,596
Net Debt / (Cash)2,4762,6242,6512,5202,5982,8602,9342,7982,9623,0863,1352,952
Cash Flows Quarterly            
FCF from Operations23610-16211519622-125202188-17-222244
Cash Flows TTM            
FCF from Operations TTM19815917120829528724915219457-1449
Returns to Shareholders Quarterly            
Dividends000000000000
Share Repurchases0010001900070
Return on Invested Capital (ROIC) Quarterly            
ROIC8.1%6.8%1.5%11.6%4.2%4.9%1.7%8.9%4.7%3.4%-0.6%2.8%
Return on Invested Capital (ROIC) TTM            
ROIC TTM7.5%6.3%5.9%5.4%4.7%2.5%1.8%4.4%4.1%4.8%2.9%5.6%

Segment Financials

Revenue by Segment

$ Mil20242023202220212020
Services6,5046,3085,6605,3312,949
Leasing1,8522,1061,8601,2881,939
Capital markets6981,1911,3547721,029
Valuation and other440500515453483
Gross contract reimbursables    2,351
Total9,49410,1069,3897,8448,751


Price Behavior

CWK Betas & Captures as of 10/31/2025

 1M2M3M6M1Y3Y
Beta0.861.041.241.781.251.44
Up Beta2.923.483.622.700.941.19
Down Beta1.231.231.041.901.441.47
Up Capture-9%16%115%174%171%410%
Bmk +ve Days14273774145425
Stock +ve Days11203165126370
Down Capture11%35%-11%79%125%109%
Bmk -ve Days9172853106327
Stock -ve Days12223259122376

[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively

Short Interest

Short Interest: As Of Date10152025
Short Interest: Shares Quantity10,271,693
Short Interest: % Change Since 9302025-9.5%
Average Daily Volume1,514,987
Days-to-Cover Short Interest6.78
Basic Shares Quantity231,500,000
Short % of Basic Shares4.4%

Returns Analyses

Earnings Returns History

Expand for More

 Forward Returns
Earnings Date1D Returns5D Returns21D Returns
10/30/2025-2.1%  
8/5/20258.7%9.6%24.7%
2/20/2025-6.0%-7.8%-18.8%
11/4/202415.4%14.8%15.1%
7/29/2024-3.6%-10.3%-2.3%
2/20/2024-10.2%-11.8%-11.0%
10/30/20238.7%19.5%22.7%
7/31/20234.2%6.0%-6.4%
...
SUMMARY STATS   
# Positive101010
# Negative131313
Median Positive4.9%6.1%15.4%
Median Negative-4.4%-6.9%-8.7%
Max Positive15.4%19.5%24.7%
Max Negative-10.7%-17.7%-29.4%

SEC Filings

Expand for More

Report DateFiling DateFiling
93020251030202510-Q 9/30/2025
6302025805202510-Q 6/30/2025
3312025429202510-Q 3/31/2025
12312024221202510-K 12/31/2024
93020241105202410-Q 9/30/2024
6302024730202410-Q 6/30/2024
3312024430202410-Q 3/31/2024
12312023221202410-K 12/31/2023
93020231031202310-Q 9/30/2023
6302023801202310-Q 6/30/2023
3312023505202310-Q 3/31/2023
12312022224202310-K 12/31/2022
93020221104202210-Q 9/30/2022
6302022805202210-Q 6/30/2022
3312022506202210-Q 3/31/2022
12312021225202210-K 12/31/2021

Insider Activity

Expand for More

 OwnerTitleFiling DateActionPriceSharesTransacted
Value		Value of
Held Shares		Form
0Sun Angela 9092025Sell16.026,800108,936744,898Form

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