Cushman & Wakefield plc (CWK) Key Metrics
CWK valuation today
Trailing 12 months · as of October 18, 2026- Market cap
- $2.65B
- Enterprise value
- $5.42B
- P/E (TTM)
- 39.0 10-yr median 21.7
- Forward P/E
- 7.4
- PEG ratio
- 0.23
- Price / sales
- 0.2 10-yr median 0.3
- Price / book
- 1.4 10-yr median 1.9
- EV / EBITDA
- 10.0 10-yr median 11.1
- Dividend yield
- —
- Beta
- 1.51
CWK key metrics, 2016–2025
Fiscal year ended December 31, 2025 · U.S. dollarsCWK valuation Price multiples at each fiscal year-end price.
CWK returns How much profit the business earns on the capital it uses.
CWK per-share figures Results divided by the shares outstanding at year-end.
CWK financial health Debt, liquidity and how easily interest is covered.
CWK efficiency & capital use Working capital cycle and where the cash goes.
CWK valuation history
CWK returns on capital
Net income (ROE, ROA) or after-tax operating income (ROIC) divided by the average of the opening and closing balance.
CWK debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease liabilities.
CWK cash returned to shareholders
CWK price vs earnings per share
CWK key metrics
2016–2025| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Valuation | ||||||||||
| Market capitalization | $3.80B | $3.05B | $2.45B | $2.84B | $5.04B | $3.27B | $4.59B | $2.48B | — | — |
| Enterprise value | $6.26B | $5.56B | $5.25B | $5.79B | $7.92B | $6.16B | $6.89B | $4.27B | — | — |
| P/E ratio | 43.1 | 23.2 | — | 14.5 | 20.1 | — | — | — | — | — |
| Price / sales | 0.4 | 0.3 | 0.3 | 0.3 | 0.5 | 0.4 | 0.5 | 0.3 | — | — |
| Price / book | 1.9 | 1.7 | 1.5 | 1.7 | 3.5 | 3.0 | 3.5 | 1.8 | — | — |
| Price / free cash flow | 13.0 | 18.2 | 24.2 | — | 10.2 | — | 24.3 | — | — | — |
| Price / operating cash flow | 11.2 | 14.6 | 16.1 | 57.9 | 9.2 | — | 17.0 | — | — | — |
| EV / sales | 0.6 | 0.6 | 0.6 | 0.6 | 0.8 | 0.8 | 0.8 | 0.5 | — | — |
| EV / EBITDA | 14.4 | 10.9 | 10.6 | 7.4 | 10.0 | 16.0 | 11.3 | 14.0 | — | — |
| EV / free cash flow | 21.4 | 33.3 | 51.9 | — | 16.0 | — | 36.5 | — | — | — |
| Earnings yield | 2.3% | 4.3% | −1.4% | 6.9% | 5.0% | −6.7% | 0.0% | −7.5% | — | — |
| Free cash flow yield | 7.7% | 5.5% | 4.1% | −0.1% | 9.8% | −2.4% | 4.1% | −3.5% | — | — |
| Dividend yield | — | — | — | — | 0.4% | — | — | 118.5% | — | — |
| Shareholder yield (dividends + buybacks) | 0.3% | 0.3% | 0.3% | 1.0% | 0.5% | 0.6% | 0.7% | 119.2% | — | — |
| Share price at fiscal year-end | $16.19 | $13.08 | $10.80 | $12.46 | $22.24 | $14.83 | $20.44 | $14.47 | — | — |
| Per share | ||||||||||
| Revenue per share | $43.84 | $40.58 | $41.84 | $44.32 | $41.45 | $35.52 | $38.98 | $48.01 | $38.20 | $34.29 |
| Earnings per share | $0.38 | $0.56 | −$0.16 | $0.86 | $1.10 | −$1.00 | $0.00 | −$1.09 | −$1.22 | −$2.40 |
| Operating cash flow per share | $1.45 | $0.89 | $0.67 | $0.22 | $2.43 | −$0.17 | $1.20 | −$0.01 | $0.02 | −$1.85 |
| Free cash flow per share | $1.25 | $0.72 | $0.45 | −$0.01 | $2.19 | −$0.36 | $0.84 | −$0.50 | −$0.69 | −$2.28 |
| Cash per share | $3.34 | $3.41 | $3.38 | $2.83 | $3.40 | $4.87 | $3.62 | $5.23 | $2.24 | $2.11 |
| Book value per share | $8.33 | $7.54 | $7.39 | $7.29 | $6.39 | $4.96 | $5.80 | $7.94 | $2.78 | $3.25 |
| Tangible book value per share | −$3.23 | −$4.01 | −$5.33 | −$5.62 | −$6.94 | −$9.03 | −$7.71 | −$9.03 | −$14.16 | −$13.44 |
| Dividends per share | — | — | — | — | $0.08 | — | — | $17.15 | $1.76 | $3.55 |
| Capex per share | $0.20 | $0.18 | $0.22 | $0.22 | $0.24 | $0.19 | $0.36 | $0.49 | $0.71 | $0.43 |
| Debt per share | $13.82 | $14.23 | $15.72 | $15.77 | $16.15 | $17.93 | $13.88 | $15.68 | $15.69 | $14.67 |
| Shares outstanding | 234.7M | 232.8M | 226.9M | 228.0M | 226.5M | 220.8M | 224.5M | 171.2M | 181.3M | 181.3M |
| Change in shares outstanding | +0.8% | +2.6% | −0.5% | +0.7% | +2.6% | −1.6% | +31.1% | −5.6% | 0.0% | +0.7% |
| Returns & profitability | ||||||||||
| Return on equity (ROE) | 4.8% | 7.7% | −2.1% | 12.6% | 19.7% | −18.4% | 0.0% | −19.9% | −40.3% | −73.6% |
| Return on invested capital (ROIC) | 8.2% | 5.8% | 3.6% | 7.0% | 8.8% | −1.1% | 2.8% | 0.3% | −4.6% | −8.1% |
| Return on assets (ROA) | 1.2% | 1.7% | −0.5% | 2.5% | 3.3% | −3.0% | 0.0% | −3.0% | −3.8% | −7.6% |
| Return on tangible assets | 1.8% | 2.7% | −0.7% | 3.9% | 5.1% | −5.2% | 0.0% | −5.1% | −8.1% | −16.3% |
| Free cash flow margin | 2.8% | 1.8% | 1.1% | −0.0% | 5.3% | −1.0% | 2.2% | −1.1% | −1.8% | −6.6% |
| Income quality (OCF / net income) | 3.86 | 1.58 | — | 0.25 | 2.20 | — | — | — | — | — |
| Financial health | ||||||||||
| Total debt | $3.24B | $3.31B | $3.57B | $3.60B | $3.66B | $3.96B | $3.12B | $2.68B | $2.84B | $2.66B |
| Cash & short-term investments | $784.2M | $793.3M | $767.7M | $644.5M | $770.7M | $1.07B | $813.2M | $895.3M | $405.6M | $382.3M |
| Net debt | $2.46B | $2.52B | $2.80B | $2.95B | $2.89B | $2.88B | $2.30B | $1.79B | $2.44B | $2.28B |
| Debt / equity | 1.66 | 1.89 | 2.13 | 2.16 | 2.53 | 3.62 | 2.40 | 1.97 | 5.64 | 4.51 |
| Debt / assets | 0.42 | 0.44 | 0.46 | 0.45 | 0.46 | 0.54 | 0.44 | 0.41 | 0.49 | 0.47 |
| Net debt / EBITDA | 5.66 | 4.93 | 5.66 | 3.78 | 3.63 | 7.48 | 3.78 | 5.88 | 19.05 | — |
| Current ratio | 22.76 | 1.15 | 1.17 | 1.16 | 1.16 | 1.40 | 1.23 | 1.35 | 0.97 | 1.13 |
| Quick ratio | 22.76 | 1.15 | 1.21 | 1.16 | 1.16 | 1.40 | 1.23 | 1.35 | 0.97 | 1.13 |
| Interest coverage | 2.1 | 1.5 | 0.7 | 2.8 | 2.8 | -0.3 | 1.2 | 0.1 | -0.9 | -1.7 |
| Working capital | $2.72B | $360.5M | $406.0M | $376.4M | $395.8M | $825.2M | $538.2M | $704.6M | −$55.1M | $216.4M |
| Invested capital | $4.41B | $4.27B | $4.48B | $4.61B | $4.33B | $3.98B | $3.60B | $3.15B | $2.94B | $2.87B |
| Tangible asset value | −$757.2M | −$933.0M | −$1.21B | −$1.28B | −$1.57B | −$1.99B | −$1.73B | −$1.55B | −$2.57B | −$2.44B |
| Net current asset value | −$2.88B | −$3.10B | −$3.29B | −$3.52B | −$3.61B | −$3.35B | −$3.00B | −$2.44B | −$3.38B | −$3.25B |
| Graham number | $8.39 | $9.78 | — | $11.88 | $12.60 | — | $0.34 | — | — | — |
| Graham net-net per share | −$16.19 | −$17.12 | −$17.61 | −$18.58 | −$19.09 | −$18.14 | −$16.35 | −$17.95 | −$21.47 | −$20.53 |
| Capital allocation | ||||||||||
| Dividends paid | — | — | — | — | $19.0M | — | — | $2.94B | $318.7M | $642.7M |
| Share buybacks (net) | $11.2M | $10.4M | $8.1M | $27.2M | $8.6M | $18.9M | $31.8M | $15.2M | $4.5M | $2.9M |
| Dividend payout ratio | — | — | — | — | 7.6% | — | — | — | — | — |
| Dividends + buybacks / free cash flow | 3.8% | 6.2% | 8.0% | — | 5.6% | — | 16.8% | — | — | — |
| Capex / revenue | 0.5% | 0.4% | 0.5% | 0.5% | 0.6% | 0.5% | 0.9% | 1.0% | 1.9% | 1.2% |
| Capex / operating cash flow | 13.9% | 19.7% | 33.5% | 103.3% | 9.8% | — | 29.8% | — | 2,934.1% | — |
| Capex / depreciation | 0.45 | 0.34 | 0.21 | 0.20 | 0.19 | 0.11 | 0.19 | 0.29 | 0.48 | 0.30 |
| Stock-based compensation / revenue | 0.6% | 0.4% | 0.6% | 0.4% | 0.6% | 0.5% | 0.7% | 1.0% | 0.7% | 0.8% |
| R&D / revenue | — | — | — | 0.0% | 0.0% | 0.0% | — | 0.0% | 0.0% | 0.0% |
| SG&A / revenue | 12.8% | 12.9% | 13.7% | 12.9% | 13.6% | 14.3% | 15.2% | 15.5% | 16.7% | 18.5% |
| Efficiency | ||||||||||
| Days sales outstanding | 50.9 | 61.8 | 71.6 | 66.3 | 65.0 | 78.8 | 72.2 | 65.6 | 69.7 | 77.3 |
| Days of inventory on hand | — | — | -4.9 | — | — | 0.0 | — | — | — | — |
| Days payables outstanding | 49.5 | 53.6 | 54.8 | 51.6 | 51.9 | 61.0 | 55.6 | 46.9 | 44.1 | 45.9 |
| Cash conversion cycle (days) | 1.4 | 8.2 | 11.8 | 14.7 | 13.1 | 17.8 | 16.6 | 18.7 | 25.7 | 31.5 |
| Receivables turnover | 7.17 | 5.91 | 5.10 | 5.51 | 5.62 | 4.63 | 5.06 | 5.57 | 5.23 | 4.72 |
| Payables turnover | 7.38 | 6.81 | 6.65 | 7.07 | 7.03 | 5.99 | 6.57 | 7.79 | 8.28 | 7.96 |
| Inventory turnover | — | — | — | — | — | 6,455,300,000.00 | — | — | — | — |
| Asset turnover | 1.35 | 1.23 | 1.21 | 1.28 | 1.23 | 1.08 | 1.28 | 1.33 | 1.21 | 1.09 |
| Average receivables | $1.43B | $1.60B | $1.86B | $1.84B | $1.67B | $1.69B | $1.73B | $1.48B | $1.32B | $1.32B |
| Average payables | $1.17B | $1.13B | $1.18B | $1.15B | $1.06B | $1.08B | $1.06B | $852.9M | $680.9M | $636.9M |
| Average inventory | — | — | −$105.0M | — | — | $1 | — | — | — | — |
| Intangibles / total assets | 35.3% | 35.6% | 37.1% | 37.0% | 38.3% | 42.1% | 42.3% | 44.4% | 53.0% | 53.2% |
Computed from CWK's annual financial statements (latest annual report filed February 19, 2026) and the closing share price on each fiscal year-end, adjusted for stock splits. Figures in U.S. dollars; data from EODHD. Averages use the opening and closing balance of each year.
CWK valuation and financial ratios
At the end of fiscal 2025 (December 31, 2025), Cushman & Wakefield traded at 43.1 times earnings, against a 10-year median of 21.7. Based on the latest twelve months, the trailing P/E is 39.0 and the forward P/E is 7.4. Cushman & Wakefield earned a return on equity of 4.8% and a return on invested capital of 8.2% in fiscal 2025. It ended the year with $3.2 billion of debt and $784.2 million in cash and short-term investments, net debt of $2.5 billion. It returned $11.2 million to shareholders: $0 in dividends and $11.2 million in share buybacks, 4% of free cash flow. The share count rose 29.5% from 181.3M to 234.7M over 9 years.
See the CWK income statement, the CWK chart for price history, or the CWK stock overview for the latest quote and news.
CWK key metrics FAQ
What is Cushman & Wakefield's P/E ratio?
Cushman & Wakefield's trailing P/E ratio is 39.0 based on the last twelve months of earnings (as of October 18, 2026), and its forward P/E is 7.4. At the end of fiscal 2025 it was 43.1, compared with a 10-year median of 21.7.
What is Cushman & Wakefield's EV/EBITDA?
Cushman & Wakefield's enterprise value was 14.4 times EBITDA at the end of fiscal 2025 (enterprise value $6.3 billion, EBITDA $434.6 million); the current EV/EBITDA is 10.0.
What is Cushman & Wakefield's return on equity?
Cushman & Wakefield's return on equity (ROE) was 4.8% in fiscal 2025: net income of $88.2 million on average shareholders' equity of $1.9 billion.
What is Cushman & Wakefield's ROIC?
Cushman & Wakefield's return on invested capital was 8.2% in fiscal 2025, using after-tax operating income divided by average debt plus equity minus cash.
How much debt does Cushman & Wakefield have?
Cushman & Wakefield had total debt of $3.2 billion at the end of fiscal 2025, a debt-to-equity ratio of 1.66 and $2.5 billion of net debt (5.66 times EBITDA).
Does Cushman & Wakefield buy back its shares?
Yes. Cushman & Wakefield spent $11.2 million on net share repurchases in fiscal 2025 Shares outstanding changed +0.8% over the year, to 234.7M..
What is Cushman & Wakefield's free cash flow yield?
Cushman & Wakefield generated $293.0 million of free cash flow in fiscal 2025, a free cash flow yield of 7.7% on its market value at year-end ($3.8 billion).
What is Cushman & Wakefield's current ratio?
Cushman & Wakefield's current ratio was 22.76 at the end of fiscal 2025: current assets were 22.76 times current liabilities.