Cushman & Wakefield (NYSE:CWK) Announces Earnings Results

Cushman & Wakefield (NYSE:CWK) released its earnings results on Thursday. The company reported $0.54 earnings per share for the quarter, topping analysts’ consensus estimates of $0.53 by $0.01, Zacks reports. Cushman & Wakefield had a net margin of 0.86% and a return on equity of 15.02%. The business had revenue of $2.91 billion for the quarter, compared to analyst estimates of $2.83 billion. During the same period last year, the company posted $0.48 EPS. The business’s revenue was up 10.8% on a year-over-year basis.

Here are the key takeaways from Cushman & Wakefield’s conference call:

• Cushman reported strong 2025 results with revenue of $7.1B (+7%), adjusted EPS up 34%, Adjusted EBITDA of $656M (+11%), $293M in free cash flow (>100% conversion), and year‑end net leverage of 2.9x.
• Management reiterated its outlook and three‑year targets: 2026 revenue growth of 6%–8%, 15%–20% annual adjusted EPS growth, expected 60%–80% free cash flow conversion in 2026, and a plan to reach 2.0x leverage by 2028.
• The company recorded a $177M non‑cash impairment to its Greystone multifamily JV due to lower forward earnings expectations, with Greystone now expected to contribute roughly $36M of adjusted EBITDA as a run rate.
• Leadership highlighted an AI‑driven transformation—breaking down data silos, combining proprietary data and AI workflows across advisory and services—to drive cross‑selling, efficiency, and differentiated client offerings.
• Operational momentum continues in capital markets and leasing (Q4 capital markets +15% globally, Americas +19%; leasing hit record quarterly levels), and the company plans a balanced capital allocation of continued hiring and organic investment alongside ongoing deleveraging and potential future buybacks.

Cushman & Wakefield Trading Up 1.3%

NYSE:CWK opened at $13.30 on Friday. The company has a debt-to-equity ratio of 1.34, a quick ratio of 1.07 and a current ratio of 1.10. Cushman & Wakefield has a 1 year low of $7.64 and a 1 year high of $17.40. The stock has a market cap of $3.08 billion, a P/E ratio of 35.01 and a beta of 1.47. The stock has a 50-day simple moving average of $15.80 and a 200-day simple moving average of $15.73.

Analyst Ratings Changes

Several brokerages have issued reports on CWK. Wolfe Research upgraded Cushman & Wakefield from a “peer perform” rating to an “outperform” rating and set a $19.00 target price for the company in a report on Monday, February 9th. Citizens Jmp set a $19.00 price target on shares of Cushman & Wakefield in a research report on Monday, November 3rd. Zacks Research lowered shares of Cushman & Wakefield from a “strong-buy” rating to a “hold” rating in a report on Tuesday, November 4th. Barclays reissued a “positive” rating and issued a $19.00 price target on shares of Cushman & Wakefield in a research note on Tuesday, January 13th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Cushman & Wakefield in a research report on Wednesday, January 21st. Six investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $18.56.

Cushman & Wakefield News Roundup

Here are the key news stories impacting Cushman & Wakefield this week:

• Positive Sentiment: Q4 results beat expectations — CWK reported $0.54 EPS vs. a $0.53 consensus and revenue of $2.91B vs. $2.83B expected; revenue rose ~10.8% YoY. The print and topline growth are the primary near‑term catalysts supporting the stock. MSN: Q4 sales beat
• Positive Sentiment: Management highlights capital‑markets growth and AI adoption as priorities — the earnings commentary and slide deck emphasize fee growth from capital markets and plans to drive operating leverage, which could boost margins if execution continues. Yahoo: Q4 deep dive
• Positive Sentiment: Product differentiation: CWK launched an AI‑momentum model for the built environment — a proprietary offering that could help win advisory mandates and upsell services as clients seek AI insights for leasing, valuation and portfolio strategy. BusinessWire: AI momentum model
• Positive Sentiment: Investor reaction and momentum — several retail/investor writeups flagged the quarter as a catalyst and highlighted strong upside reaction following the release. AAII: Why stock is up
• Neutral Sentiment: Earnings call and transcript provide color but no major new guidance — management reiterated focus areas (capital markets, AI, operating leverage); investors will watch for concrete margin progress and updated guidance in future quarters. Seeking Alpha: Earnings call transcript
• Neutral Sentiment: Analyst notes and writeups recap the beat and metrics — useful for detail but largely confirm the headline strength rather than changing the outlook today. Zacks: Key metrics

Institutional Trading of Cushman & Wakefield

A number of large investors have recently made changes to their positions in CWK. EverSource Wealth Advisors LLC increased its position in Cushman & Wakefield by 126.7% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,364 shares of the company’s stock worth $26,000 after purchasing an additional 1,321 shares during the period. Aster Capital Management DIFC Ltd purchased a new position in Cushman & Wakefield during the fourth quarter worth about $32,000. Caitong International Asset Management Co. Ltd grew its stake in shares of Cushman & Wakefield by 184.6% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 2,032 shares of the company’s stock valued at $33,000 after buying an additional 1,318 shares during the period. Quarry LP raised its stake in shares of Cushman & Wakefield by 4,473.5% in the 3rd quarter. Quarry LP now owns 2,241 shares of the company’s stock valued at $36,000 after acquiring an additional 2,192 shares during the period. Finally, Osaic Holdings Inc. boosted its holdings in Cushman & Wakefield by 85.9% in the 2nd quarter. Osaic Holdings Inc. now owns 4,354 shares of the company’s stock worth $48,000 after acquiring an additional 2,012 shares during the period. 95.56% of the stock is owned by institutional investors and hedge funds.

Cushman & Wakefield Company Profile

Cushman & Wakefield is a leading global commercial real estate services firm headquartered in Chicago. The company provides a wide range of services to occupiers and investors, specializing in transaction management, property management, facilities management and project management. Its clientele spans corporate occupiers, landlords, investors and government entities seeking solutions to optimize their real estate portfolios and operations.

The firm’s core offerings include leasing advisory for office, industrial, retail and multifamily properties, as well as capital markets advice on acquisitions, dispositions and debt and equity placements.