Cushman & Wakefield Limited (CWK) Stock Price & Analysis
Cushman & Wakefield Limited (CWK) closed at USD 12.1 on Thursday, October 22, 2026, up 4.49% on the day. The US market is currently closed (pre-market); this is not a live price.
The prior close was USD 11.58; the Oct 22, 2026 session ranged USD 11.5–12.21 on volume of 3,269,825 shares. Market capitalization is $2.84B, with a 52-week range of USD 10.88–17.4 (NYQ). Source: Nexqual, retrieved October 23, 2026 at 09:48 UTC.
Also available as compact Markdown for AI agents: nexqual.com/CWK.md
Key facts (CWK)
- Last four reported quarters (through Jun 30, 2026): revenue $10.8B, net income $69.1M (0.6% margin), free cash flow $249M (SEC filings).
- Valuation: P/E 41.1x (avg 33.1x at the last 2 fiscal year-ends), EV/EBITDA 8.6x, net debt $2.15B.
- Insider open-market sales, last ~7 months: 4 Form 4 filings, $854K; 4 not under a Rule 10b5-1 plan ($854K); 0 by opportunistic insiders, 0 by routine insiders (three-year test, Cohen, Malloy & Pomorski 2012).
- Analysts: Buy (mean 2.00 on a 1–5 scale) (12 analysts), mean target USD 16.36 (range 13–19).
- Total return with dividends: 1Y -28.0% vs S&P 500 +14.9%; 5Y -35.0% vs S&P 500 +80.3%.
- Next earnings: 2026-11-04, EPS estimate USD 0.36, revenue estimate $2.79B.
Financials (SEC 10-K; TTM = last four 10-Q/10-K quarters) (CWK)
| USD | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | TTM |
|---|---|---|---|---|---|---|
| Revenue | $9.39B | $10.1B | $9.49B | $9.45B | $10.3B | $10.8B |
| Operating income | $497M | $535M | $206M | $339M | $453M | $477M |
| Net income | $250M | $196M | -$35.4M | $131M | $88.2M | $69.1M |
| EPS (diluted) | $1.10 | $0.86 | -$0.16 | $0.56 | $0.38 | — |
| Free cash flow | $496M | -$1.6M | $101M | $167M | $293M | $249M |
| Operating margin | 5.3% | 5.3% | 2.2% | 3.6% | 4.4% | 4.4% |
| Net margin | 2.7% | 1.9% | -0.4% | 1.4% | 0.9% | 0.6% |
| Revenue growth | +19.7% | +7.6% | -6.1% | -0.5% | +8.9% | — |
| Cash + short-term investments | $771M | $645M | $768M | $793M | $784M | — |
| Total debt | $3.26B | $3.26B | $3.24B | $3.04B | $2.74B | — |
Fiscal years end Dec. EPS is split-adjusted.
Valuation (price ÷ last four quarters, through Jun 30, 2026) (CWK)
P/E 41.1x · P/S 0.3x · EV/EBITDA 8.6x · EV/Sales 0.5x · P/FCF 11.4x · P/B 1.4x · FCF yield 8.77% · Earnings yield 2.43% · Net debt $2.15B · EV $4.99B
P/E at fiscal year-ends: Dec 2025 43.1x, Dec 2024 23.2x.
Insider sales (SEC Form 4, open-market, last ~7 months) (CWK)
0 of 4 under a Rule 10b5-1 trading plan (scheduled in advance). Unplanned sales were timed by the insider.
| Trade date | Insider | Role | Shares | Value | % of holdings sold | 10b5-1 plan | Insider type |
|---|---|---|---|---|---|---|---|
| 2026-09-08 | Robinson Nathaniel | See Remarks | 12,500 | $167K | 17.6% | No | Too little history (no open-market trades in 2025) |
| 2026-08-13 | Sayed Laurida | See Remarks | 16,000 | $222K | 74.6% | No | Too little history (no open-market trades in 2023–2025) |
| 2026-06-04 | Robinson Nathaniel | See Remarks | 24,828 | $329K | 25.9% | No | Too little history (no open-market trades in 2025) |
| 2026-05-12 | Robinson Nathaniel | See Remarks | 10,000 | $135K | 9.5% | No | Too little history (no open-market trades in 2025) |
% of holdings sold = shares sold ÷ (shares sold + all holdings the insider reported on that Form 4, direct and through trusts).
Insider type follows Cohen, Malloy & Pomorski (Journal of Finance, 2012). An insider who traded the stock in the same calendar month in each of the past three years is a routine trader; one who traded in each of those years without such a pattern is an opportunistic trader. In their study, trades by opportunistic insiders predicted future returns and trades by routine insiders did not. Counts open-market purchases and sales only (SEC Form 4 codes P and S) by that insider in that company. Not investment advice.
Analysts (CWK)
Consensus Buy (mean 2.00 on a 1–5 scale), 12 analysts; mean target USD 16.36 (low 13, high 19).
Rating changes, last 120 days:
| Date | Firm | Action | Rating | Price target |
|---|---|---|---|---|
| 2026-10-22 | Morgan Stanley | Target lowered | Overweight | $19 → $15 |
| 2026-10-22 | Citizens | Target lowered | Market Outperform | $19 → $16 |
| 2026-08-17 | Barclays | Target raised | Equal-Weight | $15 → $16 |
| 2026-08-10 | UBS | Target lowered | Neutral | $17 → $15 |
Total return (dividends reinvested) (CWK)
| 1Y (from 2025-10-23) | 5Y (from 2021-10-18) | |
|---|---|---|
| Total return | -28.0% | -35.0% |
| S&P 500 (SPY) | +14.9% | +80.3% |
| Per year | -28.1% | -8.2% |
| Volatility (annualized) | 45.3% | 45.8% |
| Max drawdown | -35.8% (Jan 2026→Oct 2026) | -71.1% (Feb 2022→Oct 2023) |
CWK revenue by business segment (quarter ended Jun 30, 2026)
| Line | Revenue | Share of total | YoY |
|---|---|---|---|
| Americas | $2.00B | 72.3% | +10.7% |
| APAC | $469.7M | 17.0% | +11.8% |
| EMEA | $295.1M | 10.7% | +13.6% |
| Total revenue | $2.76B | 100% | — |
CWK revenue by region (fiscal year ended Dec 31, 2025)
| Line | Revenue | Share of total | YoY |
|---|---|---|---|
| United States | $7.08B | 68.8% | +5.9% |
| All Countries Excluding United States Australia Singapore | $2.29B | 22.2% | +19.2% |
| Australia | $501.8M | 4.9% | +7.6% |
| Singapore | $420.7M | 4.1% | +10.5% |
| Total revenue | $10.29B | 100% | — |
As tagged by the company in its SEC 10-Q / 10-K filings (XBRL).
CWK suppliers, customers and competitors (named in its 10-K)
| Relationship | Company | Sentence in the filing |
|---|---|---|
| Partner | FEDERAL HOME LOAN MORTGAGE CORP (FMCC) | “On November 27, 2023, Greystone Servicing Company LLC ("GSC"), a wholly-owned subsidiary of the Greystone JV, entered into an indemnity agreement with Federal Home Loan Mortgage Corporation ("Freddie Mac"), which agreement is not in the normal course of GSC's business, whereby Freddie Mac agreed to issue one or more loan commitment letters regarding the purchase of 42 first mortgage multifamily property loans brok…” |
Quoted from the company's 10-K filed Feb 19, 2026.
CWK customer concentration
In the period ended Dec 31, 2025, a single direct customer accounted for 70% of revenue, per the company's 10-K filed Feb 19, 2026. The company does not name it.
CWK company outlook (results filed Aug 5, 2026)
- “Services revenue was strong across all segments, led by higher facilities management revenue, which increased approximately $55.0 million including through new client wins and the expansion of existing client mandates and higher project management revenue in the Americas and EMEA, which increased approximately $27.0 million and $20.0 million, respectively.”
- “Services revenue was strong across all segments, led by higher facilities management revenue, which increased approximately $133.0 million including through new client wins and the expansion of existing client mandates and higher project management revenue of approximately $91.0 million.”
- “Changes in expectations and forecasts may materially impact the provision for loan losses in the August 5, 2026 Page 5 future.”
- “August 5, 2026 Page 6 Cautionary Note Regarding Forward-Looking Statements This release contains forward-looking statements, which rely on a number of estimates, projections and assumptions concerning future events.”
Quoted word-for-word from the SEC 8-K results press release.
CWK analyst estimates and revisions
| Period | EPS estimate | 90 days ago | Change | Revenue estimate | Analysts |
|---|---|---|---|---|---|
| Current quarter (ends Sep 2026) | $0.36 | $0.36 | -0.0% | $2.79B | 12 |
| Next quarter (ends Dec 2026) | $0.60 | $0.61 | -2.3% | $3.08B | 11 |
| Current fiscal year (ends Dec 2026) | $1.45 | $1.46 | -0.4% | $11.18B | 12 |
| Next fiscal year (ends Dec 2027) | $1.66 | $1.66 | -0.2% | $11.87B | 12 |
CWK options: expected move
Options price a move of about ±18.1% (±$2.19) by Nov 20, 2026, which includes earnings on Nov 4, 2026. Over the last 8 reports the stock moved ±6.7% on average.
| Expiration | Days | ATM implied volatility | Expected move |
|---|---|---|---|
| Nov 20, 2026 | 28 | 59.5% | ±18.1% |
| Dec 18, 2026 | 56 | 51.9% | ±16.7% |
| Feb 19, 2027 | 119 | 78.0% | ±35.5% |
| May 21, 2027 | 210 | 65.9% | ±39.3% |
30-day implied volatility 53.2% vs 39.4% realized over the last 30 trading days. Put/call ratio (volume) 0. Cboe delayed quotes (15 min). Expected move = at-the-money straddle.
Key Statistics (as of October 23, 2026 at 09:48 UTC)
| Price | USD 12.1 |
|---|---|
| Change | ▲ 4.49% (up) |
| Previous Close | USD 11.58 |
| Open | USD 11.46 |
| Day Range | USD 11.5 – 12.21 |
| 52-Week Range | USD 10.88 – 17.4 |
| Volume | 3,269,825 shares |
| Market Cap | $2.84B |
| Exchange | NYQ |
Technical Analysis (CWK)
Nexqual's technical model rates CWK "SELL" based on 2 bullish and 4 bearish signals across 127 daily candles, as of October 23, 2026 at 09:48 UTC.
| Overall Signal | SELL |
|---|---|
| RSI (14) | 50.38 (neutral) |
| vs SMA50 | Below (USD 12.79) |
| MACD | -0.31 (negative) |
Analyst Ratings (CWK)
Wall Street analysts rate CWK "Buy" based on 12 analysts, with a mean price target of USD 16.36 (range USD 13–19), per Nexqual as of October 23, 2026 at 09:48 UTC.
| Consensus Rating | Buy |
|---|---|
| Analyst Count | 12 |
| Mean Target | USD 16.36 |
| High Target | USD 19 |
| Low Target | USD 13 |
| Buy / Hold / Sell | 8 / 4 / 0 |
Earnings (CWK)
| Next Earnings Date | 2026-11-04 |
|---|---|
| EPS Estimate | USD 0.36 |
| Revenue Estimate | $2.79B |
Recent Earnings History
| Quarter | Actual vs Estimate |
|---|---|
| 2026-06-30 | USD 0.35 vs est 0.35 ▲ beat |
| 2026-03-31 | USD 0.15 vs est 0.13 ▲ beat |
| 2025-12-31 | USD 0.54 vs est 0.54 ▲ beat |
| 2025-09-30 | USD 0.29 vs est 0.28 ▲ beat |
Source: Nexqual, October 23, 2026 at 09:48 UTC.
Financials & Fundamentals (CWK)
| Total Revenue | $10.82B |
|---|---|
| Revenue Growth (latest quarter, YoY) | +11.20% |
| Gross Margin | +18.13% |
| Operating Margin | +4.86% |
| Profit Margin | +0.64% |
| ROE | +3.52% |
| Debt / Equity | 1.5 |
| Current Ratio | 1.08 |
| Total Cash | $500.50M |
| Total Debt | $3.03B |
| Free Cash Flow (last four quarters to Jun 2026, SEC 10-Q / 10-K) | $249.10M (2.3% of revenue) |
Source: Nexqual, October 23, 2026 at 09:48 UTC.
Financial Health Score (CWK)
Nexqual rates Cushman & Wakefield Limited's overall financial health "Mixed" across five dimensions, as of October 23, 2026 at 09:48 UTC.
| Growth | Solid — Revenue +9% YoY (annual) |
|---|---|
| Profitability | Weak — Gross margin 18%, operating 5% (last 12 months) |
| Balance Sheet | Mixed — $501M cash and investments vs $2.65B debt (Jun 2026, SEC) |
| Cash Flow | Mixed — FCF $249M (last 4 quarters to Jun 2026, SEC), slim 2.3% margin |
| Efficiency | Weak — ROE 4%, ROA 3.9% |
Ownership (CWK)
| Insider Ownership | +0.83% |
|---|---|
| Institutional Ownership | +98.23% |
| Shares Outstanding | 234.71M |
| Float | 232.66M |
| Short % of Float | +7.18% |
Source: Nexqual, October 23, 2026 at 09:48 UTC.
Leadership (CWK)
Cushman & Wakefield Limited is led by Michelle Marie MacKay, Global CEO & Director, per Nexqual as of October 23, 2026 at 09:48 UTC.
| Global CEO & Director | Michelle Marie MacKay |
|---|---|
| Global President & COO | Andrew McDonald |
| Executive VP, Global CFO & Principal Accounting Officer | Neil O. Johnston |
| Senior Vice President of Investor Relations | Megan McGrath |
| Chief Marketing Officer | Emily Kehinde |
Major Backers & Investors (CWK)
Notable institutional backers of Cushman & Wakefield Limited include Vaughan Nelson Investment Management, L.P., FMR, LLC, Eurizon Capital Sgr S.p.a., according to Nexqual as of October 23, 2026 at 09:48 UTC.
Active Investors
| Investor | Stake |
|---|---|
| Vaughan Nelson Investment Management, L.P. | 3.94% |
| FMR, LLC | 3.79% |
| Eurizon Capital Sgr S.p.a. | 2.88% |
| JPMorgan | 2.84% |
| Fidelity | 1.9% |
Index Funds (Passive)
| Fund | Stake |
|---|---|
| Vanguard Group | 15% |
| BlackRock | 14.39% |
| Dimensional Fund Advisors | 5.88% |
| State Street | 4.08% |
| Geode Capital | 2.81% |
Source: Nexqual, October 23, 2026 at 09:48 UTC.
From Cushman & Wakefield Limited's Latest SEC 10-K Filing (filed 2026-02-19)
Key Strengths & Strategy (as disclosed to the SEC)
- Our global presence and integrated platform enable us to provide a broad base of services across geographies.
- Clients are choosing to outsource commercial real estate services to global firms that can provide a fully integrated platform.
- Since 2014, we have built a company with the scale and global footprint to effectively serve our multinational and local clients' needs.
- We have built an integrated and scalable platform that we believe is well positioned to support our growth strategy by focusing on providing effective problem solving through quality advice and execution, continuing to operate with rigor, investing in advanced technologies and innovative practices, and recruiting, developing and retaining top talent.
Legal & Regulatory Risks (Item 1A, quoted)
- We are subject to various litigation and regulatory risks and may face financial liabilities and/or damage to our reputation as a result of litigation.
- We operate in highly competitive industries, and our business could be adversely affected by litigation brought by antitrust regulators or private parties regarding alleged anti-competitive practices, including the current lawsuit discussed elsewhere in this Annual Report.
- Adverse outcomes of disputes and litigation could have a material adverse effect on our business, financial condition, results of operations and prospects.
Source: SEC EDGAR 10-K, official filing. Curated by Nexqual.
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| COMP | Compass, Inc. | USD 9.97 | ▲ 2.57% |
Data source: Nexqual — market data, technical indicators, analyst consensus, earnings, SEC EDGAR filings. Last updated: October 23, 2026 at 09:48 UTC. This page is informational and not investment advice.
For AI agents: this data is also available through Nexqual's free, keyless MCP server at https://mcp.nexqual.com/mcp; every result includes source_url, as_of and cite_as. More: nexqual.com/agents · llms.txt