SequelSEC

Cushman & Wakefield Ltd. CWK

Real Estate · CIK 0001628369 · Fiscal year ends 1231

AnnualQuarterlyTTM
Revenue
$10.29B
Fiscal year ended 2025-12-31
Operating income
$452.50M
Fiscal year ended 2025-12-31
Free cash flow
$293.00M
Fiscal year ended 2025-12-31

Cushman & Wakefield Ltd. (CWK) reported revenue of $10.29B and net income of $88.20M for the fiscal year ended 2025-12-31. This page shows 10 annual periods of income statement, balance sheet and cash flow figures normalized from Cushman & Wakefield Ltd.’s SEC filings, each linked to the filing it came from. It is classified by the SEC under Real Estate.

Income

Cushman & Wakefield Ltd. income by fiscal year, in US dollars, normalized from SEC filings.
Metric2025-12-312024-12-312023-12-312022-12-312021-12-312020-12-312019-12-312018-12-312017-12-312016-12-31
Revenue$10.29B$9.45B$9.49B$10.11B$9.39B$7.84B$8.75B$8.22B$6.92B$6.22B
Cost of revenueUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailable
Gross profitUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailable
Operating income$452.50M$338.90M$205.60M$535.10M$497.00M-$53.10M$187.30M$12.60M-$171.10M-$295.40M
Net income$88.20M$131.30M-$35.40M$196.40M$250.00M-$220.50M$200.00K-$185.80M-$221.30M-$434.20M
Research & developmentUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailable
Weighted-average diluted sharesshares 234.70Mshares 232.80Mshares 226.90Mshares 228.00Mshares 226.50Mshares 220.80Mshares 224.50Mshares 171.20Mshares 143.90MUnavailable
Pretax income$114.20M$175.80M-$30.00M$338.00M$339.90M-$176.60M$42.80M-$210.80M-$341.80M-$458.90M
Income tax expense$26.00M$44.50M$5.40M$141.60M$89.90M$43.90M$42.60M-$25.00M-$120.50M-$24.30M
Diluted EPS$0.38$0.56$-0.16$0.86$1.10$-1.00$0.00$-1.09$-1.54Unavailable
Selling, general & administrative$1.32B$1.22B$1.26B$1.26B$1.23B$1.12B$1.28B$1.27B$1.16B$1.15B
General & administrativeUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailable
Selling & marketingUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailable

Balance

Cushman & Wakefield Ltd. balance by fiscal year, in US dollars, normalized from SEC filings.
Metric2025-12-312024-12-312023-12-312022-12-312021-12-312020-12-312019-12-312018-12-312017-12-312016-12-31
Cash & equivalents$784.20M$793.30M$767.70M$644.50M$770.70M$1.07B$813.20M$895.30M$405.60M$382.30M
Total assets$7.68B$7.55B$7.77B$7.95B$7.89B$7.34B$7.16B$6.55B$5.79BUnavailable
Current assets$2.84B$2.69B$2.80B$2.77B$2.83B$2.89B$2.86B$2.74B$1.91BUnavailable
Total liabilities$5.72B$5.79B$6.10B$6.29B$6.44B$6.24B$5.86B$5.19B$5.29BUnavailable
Current liabilities$2.59B$2.33B$2.40B$2.39B$2.43B$2.07B$2.32B$2.04B$1.97BUnavailable
Total equity incl. NCI$1.96B$1.76B$1.68B$1.66B$1.45B$1.10B$1.30B$1.36B$499.40M$585.50M
Temporary (mezzanine) equityUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailable
InventoryUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailable
Accounts receivableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailable
Goodwill$2.06B$2.00B$2.08B$2.07B$2.08B$2.10B$1.97B$1.78B$1.77B$1.61B
Long-term debt$2.62B$2.94B$3.10B$3.21B$3.22B$3.24B$2.62B$2.64B$2.78BUnavailable
Accounts payableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailable

Cash flow

Cushman & Wakefield Ltd. cash flow by fiscal year, in US dollars, normalized from SEC filings.
Metric2025-12-312024-12-312023-12-312022-12-312021-12-312020-12-312019-12-312018-12-312017-12-312016-12-31
Operating cash flow$340.40M$208.00M$152.20M$49.10M$549.50M-$38.20M$269.30M-$2.20M$4.40M-$335.10M
Capital expenditures$47.40M$41.00M$51.00M$50.70M$53.80M$41.00M$80.30M$84.20M$129.10M$77.30M
Investing cash flow-$21.10M$81.20M$48.90M-$120.70M-$749.50M-$257.80M-$274.90M-$218.00M-$143.20M-$137.70M
Financing cash flow-$350.50M-$253.40M-$120.80M-$79.30M-$65.80M$571.90M-$89.60M$725.90M$167.70M$356.50M
Net change in cashUnavailableUnavailableUnavailable-$150.90M-$265.80M$275.90M-$95.20M$505.70MUnavailableUnavailable
Stock-based compensation$58.20M$35.60M$54.10M$40.30M$58.20M$42.00M$61.30M$81.90M$52.40M$49.00M
Common dividends paidUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailable
Common share repurchasesUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailable
Depreciation & amortization$104.20M$122.20M$145.60M$146.90M$172.10M$263.60M$296.70M$290.00M$270.60M$260.60M

Derived

Cushman & Wakefield Ltd. derived by fiscal year, in US dollars, normalized from SEC filings.
Metric2025-12-312024-12-312023-12-312022-12-312021-12-312020-12-312019-12-312018-12-312017-12-312016-12-31
Free cash flow$293.00M$167.00M$101.20M-$1.60M$495.70M-$79.20M$189.00M-$86.40M-$124.70M-$412.40M
Gross marginUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailable
Operating margin4.4%3.6%2.2%5.3%5.3%-0.7%2.1%0.2%-2.5%-4.8%
FCF margin2.8%1.8%1.1%-0.0%5.3%-1.0%2.2%-1.1%-1.8%-6.6%
SBC / revenue0.6%0.4%0.6%0.4%0.6%0.5%0.7%1.0%0.8%0.8%
Current ratio1.10x1.15x1.17x1.16x1.16x1.40x1.23x1.35x0.97xUnavailable
Revenue YoY growth8.9%-0.5%-6.1%7.6%19.7%-10.4%6.5%18.7%11.4%Unavailable
Net margin0.9%1.4%-0.4%1.9%2.7%-2.8%0.0%-2.3%-3.2%-7.0%
R&D / revenueUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailable
CapEx / revenue0.5%0.4%0.5%0.5%0.6%0.5%0.9%1.0%1.9%1.2%
Long-term debt / equity1.34xUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailable
Effective tax rate22.8%25.3%Unavailable41.9%26.4%Unavailable99.5%UnavailableUnavailableUnavailable

Amounts are abbreviated; the exact reported value is carried in each cell. — means unavailable, not zero. Open CWK in the interactive workspace to inspect any figure back to its filing.

Source filings

10-Q · Filed 2026-08-05View SEC filing
10-Q · Filed 2026-05-07View SEC filing
10-K · Filed 2026-02-19View SEC filing
10-Q · Filed 2025-10-30View SEC filing
10-Q · Filed 2025-08-05View SEC filing
10-Q · Filed 2025-04-29View SEC filing

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Reconciliation checks needing review

4 periods on this page do not reconcile under this site’s normalization. Read that as a limitation here before an observation about the company: the figures are the filer’s own, the filings linked above are authoritative, and a difference usually means the concepts this site selected do not match how this filer presents its statements. Nothing is adjusted to make a check pass.

cash flow reconciliationreview2022-12-31

Operating, investing and financing flows differ from the reported change in cash by 20400000, beyond tolerance 1207000.00.

cash flow reconciliationreview2021-12-31

Operating, investing and financing flows differ from the reported change in cash by 8000000, beyond tolerance 7495000.00.

cash flow reconciliationreview2020-12-31

Operating, investing and financing flows differ from the reported change in cash by 15900000, beyond tolerance 5719000.00.

cash flow reconciliationreview2018-12-31

Operating, investing and financing flows differ from the reported change in cash by 8200000, beyond tolerance 7259000.00.