CWK - Cushman & Wakefield plc
Price:
--
--
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CONSENSUS:
Hold
DETAILS
|
PRICE TARGET:
$18.40
DETAILS
HIGH:
$19.00
LOW:
$17.00
MEDIAN:
$19.00
CONSENSUS:
$18.40
UPSIDE:
42.75%
| Metric | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | |||||||||||
| Revenue | 10,288.2 | 9,446.5 | 9,493.7 | 10,105.7 | 9,388.7 | 7,843.7 | 8,751 | 8,219.9 | 6,923.9 | 6,215.7 | 4,193.2 |
| Cost of Revenue | 8,616.6 | 7,720.2 | 7,841.6 | 8,153.5 | 7,448.4 | 6,455.3 | 6,981.7 | 6,642.4 | 5,639.6 | 5,067.8 | 3,386.3 |
| Gross Profit | 1,671.6 | 1,726.3 | 1,652.1 | 1,952.2 | 1,940.3 | 1,388.4 | 1,769.3 | 1,577.5 | 1,284.3 | 1,147.9 | 806.9 |
| Operating Expenses | |||||||||||
| R&D Expenses | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| SG&A Expenses | 1,317.2 | 1,215.6 | 1,262.8 | 1,261.3 | 1,226.7 | 1,120.8 | 1,277.6 | 1,273.4 | 1,156.1 | 1,148.7 | 810.3 |
| Other Expenses | (104.2) | 171.8 | 183.7 | 155.8 | 216.6 | 320.7 | 304.4 | 3.5 | 11 | 2.4 | (0.2) |
| Operating Expenses | 1,213 | 1,387.4 | 1,446.5 | 1,417.1 | 1,443.3 | 1,441.5 | 1,582 | 1,561.1 | 1,426 | 1,411.2 | 1,014.5 |
| Operating Income | |||||||||||
| Operating Income | 458.6 | 338.9 | 205.6 | 535.1 | 497 | (53.1) | 187.3 | 12.6 | (170.2) | (295.4) | (410.4) |
| Interest Expense | 216.2 | 229.9 | 281.1 | 193.1 | 179.5 | 163.8 | 150.6 | 228.8 | 183.1 | 171.8 | 123.1 |
| Interest Income | 857.6 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profitability | |||||||||||
| EBITDA | 434.6 | 510.7 | 494.5 | 780.2 | 795.7 | 385.8 | 609.6 | 304.1 | 128 | (2.7) | (3.4) |
| EBIT | 330.4 | 388.5 | 251.1 | 531.1 | 519.4 | 4 | 195 | 14.1 | (142.6) | (263.3) | (207.6) |
| Income Before Tax | 114.2 | 175.8 | (30) | 338 | 339.9 | (176.6) | 42.8 | (210.8) | (340.9) | (458.9) | (529.1) |
| Income Tax Expense | 26 | 44.5 | 5.4 | 141.6 | 89.9 | 43.9 | 42.6 | (25) | (120.4) | (24.3) | (56.3) |
| Net Income | 88.2 | 131.3 | (35.4) | 196.4 | 250 | (220.5) | 0.2 | (185.8) | (220.5) | (434.2) | (473.7) |
| Per Share Data | |||||||||||
| EPS (Basic) | 0.38 | 0.57 | -0.16 | 0.87 | 1.12 | -1.00 | 0.00 | -1.09 | -1.22 | -2.40 | -2.63 |
| EPS (Diluted) | 0.38 | 0.56 | -0.16 | 0.86 | 1.10 | -1.00 | 0.00 | -1.09 | -1.22 | -2.40 | -2.63 |
| Shares Outstanding | 231.2 | 228.9 | 226.9 | 225.4 | 223 | 220.8 | 217.7 | 170.5 | 181.3 | 181.3 | 179.9 |
| Metric | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Current Assets | ||||||||||
| Cash & Cash Equivalents | 784.2 | 793.3 | 767.7 | 644.5 | 770.7 | 1,074.8 | 813.2 | 895.3 | 405.6 | 382.3 |
| Short-Term Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Net Receivables | 1,515.5 | 1,352.4 | 1,846.1 | 1,876 | 1,794.9 | 1,549.2 | 1,837.6 | 1,624.1 | 1,328.6 | 1,317.2 |
| Inventory | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Current Assets | 543.4 | 544.7 | 189.4 | 246.3 | 0 | 169.7 | 131.5 | 0 | 0 | 0 |
| Total Current Assets | 2,843.1 | 2,690.4 | 2,803.2 | 2,766.8 | 2,830.3 | 2,890.7 | 2,860.8 | 2,743.3 | 1,910.5 | 1,840.9 |
| Non-Current Assets | ||||||||||
| Property, Plant & Equipment | 410.1 | 426.1 | 502.8 | 527.7 | 592.4 | 674.1 | 490.7 | 313.8 | 304.3 | 245.7 |
| Goodwill | 2,058.3 | 1,998.3 | 2,080.9 | 2,065.5 | 2,081.9 | 2,098 | 1,969.1 | 1,778.5 | 1,765.3 | 1,608.6 |
| Intangible Assets | 654.7 | 690.1 | 805.9 | 877.4 | 937.9 | 991.2 | 1,062.6 | 1,128.2 | 1,306 | 1,417 |
| Long-Term Investments | 536.9 | 723.6 | 708 | 677.3 | 641.3 | 150.3 | 7.9 | 8.7 | 7.9 | 7.6 |
| Other Non-Current Assets | 1,024.5 | 927.6 | 805.8 | 976 | 741.1 | 533.6 | 685.7 | 489.5 | 432.8 | 417 |
| Total Non-Current Assets | 4,833.5 | 4,858.8 | 4,970.8 | 5,182.5 | 5,060.1 | 4,447.2 | 4,302.6 | 3,802.7 | 3,887.4 | 3,841 |
| Total Assets | 7,676.6 | 7,549.2 | 7,774 | 7,949.3 | 7,890.4 | 7,337.9 | 7,163.4 | 6,546 | 5,797.9 | 5,681.9 |
| Current Liabilities | ||||||||||
| Account Payables | 0 | 1,110.5 | 1,157.7 | 1,199 | 1,106.2 | 1,011.6 | 1,145.3 | 980.9 | 724.8 | 636.9 |
| Short-Term Debt | 124.9 | 103.2 | 149.7 | 49.8 | 42.4 | 29.7 | 39.3 | 39.9 | 59.5 | 35.5 |
| Deferred Revenue | 0 | 0 | 0 | 0 | 0 | 0 | 948.4 | 43.2 | 900.5 | 804.2 |
| Other Current Liabilities | 0 | 1,096.4 | 1,069 | 1,108.5 | 1,180.8 | 170.9 | 1,078.4 | 200 | 210.9 | 187.1 |
| Total Current Liabilities | 124.9 | 2,329.9 | 2,397.2 | 2,390.4 | 2,434.5 | 2,065.5 | 2,322.6 | 2,038.7 | 1,965.6 | 1,624.5 |
| Non-Current Liabilities | ||||||||||
| Long-Term Debt | 2,871.5 | 2,923.6 | 3,096.9 | 3,211.7 | 3,220.5 | 3,390.6 | 2,620.3 | 2,644.2 | 2,784 | 2,624.6 |
| Deferred Tax Liabilities | 13.8 | 12.6 | 13.7 | 57.2 | 48.7 | 0 | 110 | 136.4 | 157.5 | 401.9 |
| Other Non-Current Liabilities | 2,464 | 241.4 | 268.6 | 293.3 | 343.5 | 371.6 | 352.1 | 347.1 | 386.9 | 440.9 |
| Total Non-Current Liabilities | 5,595.9 | 3,463.9 | 3,698.8 | 3,896.8 | 4,007.3 | 4,176.8 | 3,539.5 | 3,147.2 | 3,328.4 | 3,467.4 |
| Total Liabilities | 5,720.8 | 5,793.8 | 6,096 | 6,287.2 | 6,441.8 | 6,242.3 | 5,862.1 | 5,185.9 | 5,294 | 5,091.9 |
| Stockholders' Equity | ||||||||||
| Common Stock | 23.2 | 23 | 22.7 | 22.6 | 22.4 | 22.2 | 22 | 21.7 | 1,451.3 | 1,430.8 |
| Retained Earnings | (897.7) | (985.9) | (1,117.2) | (1,081.8) | (1,278.2) | (1,528.2) | (1,297) | (1,298.4) | (1,165.2) | (944.7) |
| Accumulated Other Comprehensive Income | (208.6) | (268.6) | (185.4) | (191) | (193) | (242.7) | (242.8) | (154.4) | (87.2) | (148.5) |
| Total Stockholders' Equity | 1,955.3 | 1,754.9 | 1,677.4 | 1,661.3 | 1,447.8 | 1,094.7 | 1,301.3 | 1,360.1 | 503.9 | 590 |
| Total Liabilities & Equity | 7,676.6 | 7,549.2 | 7,774 | 7,949.3 | 7,890.4 | 7,337.9 | 7,163.4 | 6,546 | 5,797.9 | 5,681.9 |
| Debt Metrics | ||||||||||
| Total Debt | 3,243 | 3,313.1 | 3,566.2 | 3,596.1 | 3,657.5 | 3,959.4 | 3,116.7 | 2,684.1 | 2,843.5 | 2,660.1 |
| Net Debt | 2,458.8 | 2,519.8 | 2,798.5 | 2,951.6 | 2,886.8 | 2,884.6 | 2,303.5 | 1,788.8 | 2,437.9 | 2,277.8 |
| Metric | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Activities | ||||||||||
| Net Income | 88.2 | 131.3 | (35.4) | 196.4 | 250 | (220.5) | 0.2 | (185.8) | (220.5) | (434.6) |
| Depreciation & Amortization | 104.2 | 122.2 | 243.4 | 249.1 | 276.3 | 381.8 | 414.6 | 290 | 270.6 | 260.6 |
| Stock-Based Compensation | 58.2 | 35.6 | 54.1 | 40.3 | 58.2 | 42 | 61.3 | 81.9 | 51.4 | 49 |
| Change in Working Capital | (110.7) | (138.6) | (124.5) | (538.8) | (35.8) | (250.3) | (175.7) | (221.5) | 62.9 | (163.9) |
| Other Non-Cash Items | 245.5 | 85.6 | 65 | 87.5 | 57.1 | (9) | 18.7 | 92.1 | 10.1 | 13.9 |
| Operating Cash Flow | 340.4 | 208 | 152.2 | 49.1 | 549.5 | (38.2) | 269.3 | (2.2) | 4.4 | (335.1) |
| Investing Activities | ||||||||||
| Capital Expenditure | (47.4) | (41) | (51) | (50.7) | (53.8) | (41) | (80.3) | (84.2) | (129.1) | (77.3) |
| Acquisitions | 6.6 | 0 | 0 | (32.8) | (7) | (108.7) | (275.9) | (35.5) | (99.9) | (64.2) |
| Purchases of Investments | (8.9) | (1.7) | (6.9) | (26.4) | (688.9) | (14.6) | (4.5) | (8.7) | 0 | 0 |
| Sales/Maturities of Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Investing Activities | 28.6 | 82.9 | 106.8 | (10.8) | 0.2 | (93.5) | 85.8 | (89.6) | 85.8 | 3.8 |
| Investing Cash Flow | (21.1) | 81.2 | 48.9 | (120.7) | (749.5) | (257.8) | (274.9) | (218) | (143.2) | (137.7) |
| Financing Activities | ||||||||||
| Net Debt Issuance | (326.1) | (228.6) | (34.2) | (44) | (40.1) | 616 | (38.5) | (207.5) | 159.3 | 319.6 |
| Stock Repurchased | (11.2) | (10.4) | (8.1) | (27.2) | (8.6) | (18.9) | (31.8) | (15.2) | (4.5) | (2.9) |
| Dividends Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Financing Activities | (13.2) | (14.4) | (78.5) | (8.1) | (17.1) | (25.2) | (19.3) | (71.3) | (10.5) | 0 |
| Financing Cash Flow | (350.5) | (253.4) | (120.8) | (79.3) | (65.8) | 571.9 | (89.6) | 725.9 | 167.7 | 356.5 |
| Cash Position | ||||||||||
| Net Change in Cash | (11.1) | 13.4 | 82.2 | (171.3) | (273.8) | 291.8 | (93.1) | 497.5 | 43.1 | (123.1) |
| Cash at Beginning | 814.6 | 801.2 | 719 | 890.3 | 1,164.1 | 872.3 | 965.4 | 467.9 | 424.8 | 547.9 |
| Cash at End | 803.5 | 814.6 | 801.2 | 719 | 890.3 | 1,164.1 | 872.3 | 965.4 | 467.9 | 424.8 |
| Free Cash Flow | 293 | 167 | 101.2 | (1.6) | 495.7 | (79.2) | 189 | (86.4) | (124.7) | (412.4) |
| Key Metrics | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Income Statement | |||||||||||
| Revenue | 10,288.2 | 9,446.5 | 9,493.7 | 10,105.7 | 9,388.7 | 7,843.7 | 8,751 | 8,219.9 | 6,923.9 | 6,215.7 | 4,193.2 |
| Gross Profit | 1,671.6 | 1,726.3 | 1,652.1 | 1,952.2 | 1,940.3 | 1,388.4 | 1,769.3 | 1,577.5 | 1,284.3 | 1,147.9 | 806.9 |
| Operating Income | 458.6 | 338.9 | 205.6 | 535.1 | 497 | (53.1) | 187.3 | 12.6 | (170.2) | (295.4) | (410.4) |
| Net Income | 88.2 | 131.3 | (35.4) | 196.4 | 250 | (220.5) | 0.2 | (185.8) | (220.5) | (434.2) | (473.7) |
| EPS (Diluted) | 0.38 | 0.56 | -0.16 | 0.86 | 1.10 | -1.00 | 0.00 | -1.09 | -1.22 | -2.40 | -2.63 |
| Balance Sheet | |||||||||||
| Cash & Equivalents | 784.2 | 793.3 | 767.7 | 644.5 | 770.7 | 1,074.8 | 813.2 | 895.3 | 405.6 | 382.3 | |
| Total Assets | 7,676.6 | 7,549.2 | 7,774 | 7,949.3 | 7,890.4 | 7,337.9 | 7,163.4 | 6,546 | 5,797.9 | 5,681.9 | |
| Total Debt | 3,243 | 3,313.1 | 3,566.2 | 3,596.1 | 3,657.5 | 3,959.4 | 3,116.7 | 2,684.1 | 2,843.5 | 2,660.1 | |
| Stockholders' Equity | 1,955.3 | 1,754.9 | 1,677.4 | 1,661.3 | 1,447.8 | 1,094.7 | 1,301.3 | 1,360.1 | 503.9 | 590 | |
| Cash Flow | |||||||||||
| Operating Cash Flow | 340.4 | 208 | 152.2 | 49.1 | 549.5 | (38.2) | 269.3 | (2.2) | 4.4 | (335.1) | |
| Capital Expenditure | (47.4) | (41) | (51) | (50.7) | (53.8) | (41) | (80.3) | (84.2) | (129.1) | (77.3) | |
| Free Cash Flow | 293 | 167 | 101.2 | (1.6) | 495.7 | (79.2) | 189 | (86.4) | (124.7) | (412.4) | |