Cushman & Wakefield plc
- Open
- 12.62
- Day high
- 12.99
- Day low
- 12.52
- Prev close
- 12.47
- Volume
- 1.9M
- Mkt cap
- $3.0B
- P/E (TTM)
- 39.5
- EPS (TTM)
- $0.32
- P/B
- 1.5
- P/S
- 0.3
- Yield
- —
- Per share
- —
- ▼Insiders net selling -$464K over the last 3 months (0 open-market buys, 2 sales)
- 🏛Institutions accumulating (13F)
Cushman & Wakefield plc (CWK) is a Real Estate company listed on NYSE. The stock is up 8% over the past year. Over the trailing 3 months, insiders filed 0 open-market buys and 2 sales (SEC Form 4). Drillr has 1 published research article covering CWK.
Cushman & Wakefield plc (CWK) financials & analyst ratings
Fundamentals (TTM)
Source: exchange market data + company filings. Figures are trailing-twelve-month or as most recently reported. For informational purposes only — not investment advice.
CWK earnings date, history & EPS estimates
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| May 7, 2026 | $0.13 | $0.15 | +15.4% | $2.5B | +64.5% |
| Feb 19, 2026 | $0.53 | $0.54 | +1.9% | $2.9B | +21.5% |
| Oct 30, 2025 | $0.28 | $0.29 | +3.6% | $2.6B | -7.6% |
| Feb 20, 2025 | $0.45 | $0.48 | +6.7% | $2.6B | +17.5% |
| Feb 20, 2024 | $0.39 | $0.45 | +15.4% | $2.6B | +4.7% |
| May 4, 2023 | $0.19 | $-0.04 | -121.1% | $2.2B | +22.4% |
| Feb 23, 2023 | $0.46 | $0.46 | +0.0% | $2.6B | +44.6% |
| Nov 3, 2022 | $0.57 | $0.43 | -24.6% | $2.5B | +42.3% |
| Aug 4, 2022 | $0.53 | $0.63 | +18.9% | $2.6B | +46.5% |
| May 5, 2022 | $0.20 | $0.48 | +140.0% | $2.3B | +55.0% |
| Feb 24, 2022 | $0.62 | $0.94 | +51.6% | $2.9B | +51.3% |
| Nov 4, 2021 | $0.30 | $0.48 | +60.0% | $2.3B | +31.3% |
CWK insider trading activity (SEC Form 4)
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| Jul 6, 2026 | Perkins Noelle Jofficer: See Remarks | Tax | 13,540 | $13.84 |
| Jul 6, 2026 | Perkins Noelle Jofficer: See Remarks | Option | 30,563 | — |
| Jul 6, 2026 | MCDONALD ANDREW R.officer: See Remarks | Option | 57,120 | — |
| Jul 6, 2026 | MCDONALD ANDREW R.officer: See Remarks | Tax | 5,443 | $13.84 |
| Jul 6, 2026 | MACKAY MICHELLEdirector, officer: Chief Executive Officer | Tax | 73,706 | $13.84 |
| Jul 6, 2026 | MACKAY MICHELLEdirector, officer: Chief Executive Officer | Option | 133,283 | — |
| Jul 6, 2026 | MCDONALD ANDREW R.officer: See Remarks | Tax | 29,063 | $13.84 |
| Jul 6, 2026 | MACKAY MICHELLEdirector, officer: Chief Executive Officer | Option | 24,960 | — |
| Jul 6, 2026 | Perkins Noelle Jofficer: See Remarks | Option | 163,203 | — |
| Jul 6, 2026 | MACKAY MICHELLEdirector, officer: Chief Executive Officer | Tax | 13,803 | $13.84 |
| Jul 6, 2026 | MCDONALD ANDREW R.officer: See Remarks | Option | 10,697 | — |
| Jul 6, 2026 | Perkins Noelle Jofficer: See Remarks | Tax | 72,299 | $13.84 |
| Jun 8, 2026 | Robinson Nathanielofficer: See Remarks | Sell | 24,828 | $13.25 |
| May 18, 2026 | Vennam Rajeshdirector | Option | 17,013 | — |
| May 18, 2026 | Williamson Billie Idadirector | Grant | 14,041 | — |
Source: CWK SEC Form 4 filings, latest Jul 6, 2026. For informational purposes only — not investment advice.
See the full CWK insider & 13F page →Cushman & Wakefield plc company profile
Overview
Cushman & Wakefield plc (NYSE:CWK) is a global commercial real estate services company founded in 1784, making it one of the oldest firms in the industry. Originally established as two separate companies - Cushman founded in New York and Wakefield in London - the firms merged in 2015 and went public in 2018. Today, the company operates as one of the world's largest commercial real estate services providers, with a presence across the Americas, Europe, Middle East, Africa, and Asia Pacific regions. The company serves real estate owners, occupiers, tenants, investors, and multinational corporations through an integrated platform of advisory, transactional, and outsourced services.
Business
Cushman & Wakefield operates in the commercial real estate services industry, which encompasses the buying, selling, leasing, and management of office buildings, industrial facilities, retail spaces, and other commercial properties. The company provides a comprehensive suite of services that can be broadly categorized into three main business segments. The Leasing business represents approximately 23% of fee revenue and involves helping property owners find tenants for their commercial spaces and assisting companies in finding suitable office, industrial, or retail locations. This includes both landlord representation (helping property owners lease their spaces) and tenant representation (helping businesses find and negotiate leases for the space they need). Leasing brokers earn commissions when deals are completed, typically based on the total value of the lease over its term. The Capital Markets segment, accounting for roughly 20% of fee revenue, focuses on investment sales transactions and financing services. This involves helping investors buy and sell commercial properties, arranging debt and equity financing for real estate transactions, and providing valuation and advisory services. Capital markets professionals earn fees based on transaction values, similar to investment banking but focused specifically on real estate assets. The Services business is the largest segment at approximately 57% of fee revenue and includes property management, facilities management, and project management services. Property management involves the day-to-day operations of commercial buildings, including tenant relations, maintenance, and financial management. Facilities management encompasses broader operational services like janitorial, security, landscaping, and engineering services. This segment generates more predictable, recurring revenue through ongoing management contracts rather than transaction-based fees.
Competitive moat
Cushman & Wakefield's competitive moat is moderate and primarily based on scale advantages and relationship networks rather than truly defensible barriers. The company benefits from its global platform, which allows it to serve multinational corporate clients across multiple markets - a capability that smaller regional firms cannot match. Its extensive property management portfolio provides recurring revenue streams and deep client relationships that create some switching costs. However, the commercial real estate services industry is highly fragmented and competitive. The company faces intense competition from other global players like CBRE and JLL, which have similar scale and capabilities. Barriers to entry are relatively low for individual brokers or small teams, as the business is largely relationship-driven and doesn't require significant capital investment. Top-producing brokers can relatively easily move between firms, taking their client relationships with them, which limits the stickiness of human capital. The company's brand recognition and market presence provide some advantages in winning large outsourcing contracts and complex transactions, but these advantages are not insurmountable. Technology is increasingly important in the industry, but Cushman & Wakefield doesn't appear to have developed proprietary technology that creates a significant competitive advantage. The moat is primarily operational rather than structural, making it vulnerable to competitive pressures and economic cycles.
Risks & safety
The company presents moderate financial risk with some areas of concern: **Overall Assessment**: Moderate risk profile with leverage concerns but adequate liquidity **Cash and Debt Position**: - Cash and short-term investments: $623 million (Q1 2025) - Net leverage ratio: 3.9x EBITDA (down from 4.3x) - Successfully paid down $230 million in debt under current management - Free cash flow turned negative in Q1 2025 at -$167 million due to seasonal working capital needs **Valuation Metrics**: - Trading at 15.8x EV/EBITDA (Q1 2025) - Price-to-book ratio of 1.33x - Current ratio of 1.18x indicates tight working capital position **Other Considerations**: - Cyclical business model creates earnings volatility - High employee compensation costs typical for service businesses - Seasonal cash flow patterns with Q1 typically being weakest quarter
Recent development
Over the past few years, Cushman & Wakefield has undergone significant strategic repositioning focused on balance sheet strengthening and operational efficiency. The company implemented a $130 million cost savings program and has systematically reduced debt, paying down over $230 million since the current CEO took over. This deleveraging effort has improved the net leverage ratio from over 4.3x to 3.9x EBITDA. The company has made substantial investments in talent recruitment and retention, hiring 8 capital markets teams and 20 leasing teams in 2025 alone, while achieving a 260 basis point improvement in top talent retention. Management has focused on breaking down organizational silos and integrating research and sales teams to improve cross-selling capabilities. Technology and data analytics have become key investment areas, with the company modernizing its capital markets platform and investing in data and analytics capabilities. The company has also pursued strategic portfolio optimization, selling non-core assets while focusing on higher-growth areas like Global Occupier Services and facilities management. Recent quarters have shown signs of market recovery, particularly in leasing where the company has achieved four consecutive quarters of growth. Capital markets activity has begun to stabilize after significant declines in 2022-2023, with management expressing optimism about a multi-year recovery cycle beginning in 2024-2025.
CWK company profile · for informational purposes only — not investment advice.
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