CWK
Cushman & Wakefield plc
CWK's fundamentals are mixed, but it looks expensive: trading at 47x earnings, more than twice its usual 21x. Analysts expect earnings growth, though they disagree widely on how much.
CWK Fundamentals
| Metric | Status |
|---|---|
| Stable | |
| Stable | |
| N/A | |
| N/A |
CWK's revenue and profitability are currently stable. Free cash flow and net leverage aren't meaningful measures for real estate companies like CWK.
CWK PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Forward | 8.5x | $13.49 | — |
| Cheap | 11x | $3.31 | -75% |
| Fair | 20x | $5.85 | -57% |
| Current | 47x | $13.49 | — |
| Expensive | 61x | $17.59 | +30% |
Historical ranges are pointers, not guarantees.
CWK's PE is in its expensive range at 47x. If earnings grow as analysts expect, today's price would be 8.5x next year's earnings, in its cheap range.
CWK Forward outlook
| Metric | Outlook |
|---|---|
| Strongly improving | |
| Growth | |
| Growth | |
| Weakening | |
| Limited | |
| Low |
Analysts expect earnings and revenue growth for CWK, but weaker profitability. However, they disagree widely on these estimates.
CWK Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $1.59 | +449% |
| Q3 2026 | $0.29 | -70% |
| Q2 2026 | $0.29 | -67% |
| Q1 2026 | $0.32 | -54% |
| Q4 2025 | $0.38 | -32% |
| Q3 2025 | $0.97 | +155% |
| Q2 2025 | $0.89 | +889% |
| Q1 2025 | $0.70 | +1300% |
| Q4 2024 | $0.56 | +$0.72 |
CWK's earnings per share have fallen from their peak: $0.29 over the past year, against $1.58 in mid-2022.
CWK Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $2.8B | +7.7% |
| Q2 2026 | $2.8B | +11% |
| Q1 2026 | $2.5B | +11% |
| Q4 2025 | $2.9B | +11% |
| Q3 2025 | $2.6B | +11% |
| Q2 2025 | $2.5B | +8.6% |
| Q1 2025 | $2.3B | +4.6% |
| Q4 2024 | $2.6B | +3% |
CWK's revenue has grown year over year for nine quarters in a row: $2.8B last quarter, up 7.7% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 4.6% | +0.5 points |
| Q2 2026 | 4.9% | -0.1 points |
| Q1 2026 | 2.3% | +0.3 points |
| Q4 2025 | 6.1% | -0.6 points |
| Q3 2025 | 4.1% | +0.9 points |
| Q2 2025 | 4.9% | +1.9 points |
| Q1 2025 | 2% | +1.1 points |
| Q4 2024 | 6.6% | +2.3 points |
CWK's operating margin was 4.6% last quarter, up 0.5 points from the same quarter a year ago.
CWK Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $176.1M | -22% |
| Q2 2026 | $45.5M | +15067% |
| Q1 2026 | -$255.7M | -$89.1M |
| Q4 2025 | $234.3M | +121% |
| Q3 2025 | $225M | +21% |
| Q2 2025 | $300K | -97% |
| Q1 2025 | -$166.6M | -$31M |
| Q4 2024 | $105.9M | -43% |
CWK's free cash flow was $200M over the past year, up 22% from the year before. Free cash flow isn't a meaningful measure for real estate companies like CWK.
CWK Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | +0.4% | +900K shares |
| 1 year | +0.6% | +1.3M shares |
| 3 years | +4.4% | +10M shares |
| 5 years | +4.5% | +10.2M shares |
| Available history | +5.7% | +12.7M shares |
CWK has 237M diluted shares, up 0.6% from a year ago.
CWK Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | 3.5x | Elevated |
| Q2 2026 | 3.7x | Elevated |
| Q1 2026 | 3.8x | Elevated |
| Q4 2025 | 3.5x | Elevated |
| Q3 2025 | 4.0x | Elevated |
| Q2 2025 | 4.5x | High |
| Q1 2025 | 5.0x | High |
| Q4 2024 | 4.9x | High |
CWK's net debt is about 3.5 years of its operating earnings (EBITDA), down from 4.0 years a year ago. Net leverage isn't a meaningful measure for real estate companies like CWK.
CWK Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 52.3 | Neutral |
| Stochastic | 56.6 | Neutral |
CWK's weekly RSI is 52 (neutral) and its Stochastic is 57 (neutral).
CWK PE vs Real Estate Sector
| Metric | CWK | Sector median | Relative |
|---|---|---|---|
| PE | 47x | 24x | 95% above |
| PE % | 78 | 23 | 55 pts above |
CWK is trading at 47x earnings, a 95% premium to the Real Estate sector's median of 24x.
CWK Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $12.5 | 8.4% above |
| 20 week MA | $13.2 | 2.6% above |
| 50 week MA | $13.8 | 1.9% below |
| 100 week MA | $13.3 | 1.8% above |
| 200 week MA | $12.0 | 13% above |
CWK's trend is mixed: it's above four of its five weekly moving averages, and 13% above its 200-week average.
CWK Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $20.5 | $15.3 | -25% |
| 2021 | $15.3 | $21.9 | +43% |
| 2022 | $21.9 | $12.1 | -45% |
| 2023 | $12.1 | $10.8 | -11% |
| 2024 | $10.8 | $13.1 | +21% |
| 2025 | $13.1 | $16.5 | +26% |
| 2026 YTD | $16.5 | $13.5 | -18% |
CWK has finished lower in three of the last six years. It's down 18% so far in 2026.