Tearsheet

Cushman & Wakefield (CWK)


Market Price (4/11/2026): $13.225 | Market Cap: $3.1 Bil
Sector: Real Estate | Industry: Real Estate Services

Cushman & Wakefield (CWK)


Market Price (4/11/2026): $13.225
Market Cap: $3.1 Bil
Sector: Real Estate
Industry: Real Estate Services

Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.

0

Attractive yield
FCF Yield is 9.6%

Low stock price volatility
Vol 12M is 45%

Megatrend and thematic drivers
Megatrends include Smart Buildings & Proptech, Sustainable & Green Buildings, and E-commerce Logistics & Data Centers. Themes include Building Management Systems, Show more.

Weak multi-year price returns
2Y Excs Rtn is -7.4%, 3Y Excs Rtn is -35%

Debt is significant
Net D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is 72%

Weak revenue growth
Rev Chg 3Y AvgRevenue Change % averaged over trailing 3 years is 0.8%

Key risks
CWK key risks include [1] a significant debt burden and indicators of financial distress, Show more.

0 Attractive yield
FCF Yield is 9.6%
1 Low stock price volatility
Vol 12M is 45%
2 Megatrend and thematic drivers
Megatrends include Smart Buildings & Proptech, Sustainable & Green Buildings, and E-commerce Logistics & Data Centers. Themes include Building Management Systems, Show more.
3 Weak multi-year price returns
2Y Excs Rtn is -7.4%, 3Y Excs Rtn is -35%
4 Debt is significant
Net D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is 72%
5 Weak revenue growth
Rev Chg 3Y AvgRevenue Change % averaged over trailing 3 years is 0.8%
6 Key risks
CWK key risks include [1] a significant debt burden and indicators of financial distress, Show more.

Valuation, Metrics & Events

Price Chart

Why The Stock Moved

Qualitative Assessment

AI Analysis | Feedback

Cushman & Wakefield (CWK) stock has lost about 20% since 12/31/2025 because of the following key factors:

1. Cushman & Wakefield reported a significant net loss of $22.4 million in the fourth quarter of 2025, contrasting sharply with a net income of $112.9 million in the prior-year period. This substantial downturn in profitability was primarily due to a one-time other-than-temporary impairment loss of $177.0 million on its equity method investment in Cushman Wakefield Greystone LLC. The company's stock declined by 3.2% the day after this Q4 2025 earnings announcement on February 19, 2026.

2. Persistent weakness and distress in the commercial real estate office sector have heavily weighed on investor sentiment. The office Commercial Mortgage-Backed Securities (CMBS) delinquency rate reached an all-time high of 12.34% in January 2026, signaling ongoing stress within weaker office assets and impacting companies reliant on this segment.

Show more

Stock Movement Drivers

Fundamental Drivers

The -18.3% change in CWK stock from 12/31/2025 to 4/10/2026 was primarily driven by a -61.6% change in the company's Net Income Margin (%).
(LTM values as of)123120254102026Change
Stock Price ($)16.1913.22-18.3%
Change Contribution By: 
Total Revenues ($ Mil)10,00410,2882.8%
Net Income Margin (%)2.2%0.9%-61.6%
P/E Multiple16.834.7106.9%
Shares Outstanding (Mil)2322320.0%
Cumulative Contribution-18.3%

LTM = Last Twelve Months as of date shown

Market Drivers

12/31/2025 to 4/10/2026
ReturnCorrelation
CWK-18.3% 
Market (SPY)-5.4%53.6%
Sector (XLRE)6.1%25.1%

Fundamental Drivers

The -17.0% change in CWK stock from 9/30/2025 to 4/10/2026 was primarily driven by a -59.4% change in the company's Net Income Margin (%).
(LTM values as of)93020254102026Change
Stock Price ($)15.9213.22-17.0%
Change Contribution By: 
Total Revenues ($ Mil)9,74210,2885.6%
Net Income Margin (%)2.1%0.9%-59.4%
P/E Multiple17.934.793.8%
Shares Outstanding (Mil)2312320.0%
Cumulative Contribution-17.0%

LTM = Last Twelve Months as of date shown

Market Drivers

9/30/2025 to 4/10/2026
ReturnCorrelation
CWK-17.0% 
Market (SPY)-2.9%49.9%
Sector (XLRE)2.7%33.2%

Fundamental Drivers

The 29.4% change in CWK stock from 3/31/2025 to 4/10/2026 was primarily driven by a 94.2% change in the company's P/E Multiple.
(LTM values as of)33120254102026Change
Stock Price ($)10.2213.2229.4%
Change Contribution By: 
Total Revenues ($ Mil)9,44610,2888.9%
Net Income Margin (%)1.4%0.9%-38.3%
P/E Multiple17.934.794.2%
Shares Outstanding (Mil)230232-0.9%
Cumulative Contribution29.4%

LTM = Last Twelve Months as of date shown

Market Drivers

3/31/2025 to 4/10/2026
ReturnCorrelation
CWK29.4% 
Market (SPY)16.3%55.2%
Sector (XLRE)5.2%51.1%

Fundamental Drivers

The 25.4% change in CWK stock from 3/31/2023 to 4/10/2026 was primarily driven by a 186.5% change in the company's P/E Multiple.
(LTM values as of)33120234102026Change
Stock Price ($)10.5413.2225.4%
Change Contribution By: 
Total Revenues ($ Mil)10,10610,2881.8%
Net Income Margin (%)1.9%0.9%-55.9%
P/E Multiple12.134.7186.5%
Shares Outstanding (Mil)226232-2.5%
Cumulative Contribution25.4%

LTM = Last Twelve Months as of date shown

Market Drivers

3/31/2023 to 4/10/2026
ReturnCorrelation
CWK25.4% 
Market (SPY)63.3%49.5%
Sector (XLRE)26.2%57.0%

Return vs. Risk

Price Returns Compared

 202120222023202420252026Total [1]
Returns
CWK Return50%-44%-13%21%24%-19%-11%
Peers Return83%-39%29%18%15%-11%74%
S&P 500 Return27%-19%24%23%16%-0%82%

Monthly Win Rates [3]
CWK Win Rate58%42%42%42%58%50% 
Peers Win Rate68%32%55%62%53%45% 
S&P 500 Win Rate75%42%67%75%67%50% 

Max Drawdowns [4]
CWK Max Drawdown-5%-53%-48%-14%-40%-27% 
Peers Max Drawdown-6%-45%-20%-16%-21%-19% 
S&P 500 Max Drawdown-1%-25%-1%-2%-15%-7% 


[1] Cumulative total returns since the beginning of 2021
[2] Peers: CBRE, JLL, CIGI, NMRK, MMI.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 4/10/2026 (YTD)

How Low Can It Go

Unique KeyEventCWKS&P 500
2022 Inflation Shock2022 Inflation Shock  
2022 Inflation Shock% Loss% Loss-71.8%-25.4%
2022 Inflation Shock% Gain to Breakeven% Gain to Breakeven255.1%34.1%
2022 Inflation ShockTime to BreakevenTime to BreakevenNot Fully Recovered days464 days
2020 Covid Pandemic2020 Covid Pandemic  
2020 Covid Pandemic% Loss% Loss-61.1%-33.9%
2020 Covid Pandemic% Gain to Breakeven% Gain to Breakeven156.9%51.3%
2020 Covid PandemicTime to BreakevenTime to Breakeven632 days148 days
2018 Correction2018 Correction  
2018 Correction% Loss% Loss-29.2%-19.8%
2018 Correction% Gain to Breakeven% Gain to Breakeven41.3%24.7%
2018 CorrectionTime to BreakevenTime to Breakeven121 days120 days

Compare to CBRE, JLL, CIGI, NMRK, MMI

In The Past

Cushman & Wakefield's stock fell -71.8% during the 2022 Inflation Shock from a high on 2/16/2022. A -71.8% loss requires a 255.1% gain to breakeven.

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About Cushman & Wakefield (CWK)

Cushman & Wakefield plc, together with its subsidiaries, provides commercial real estate services under the Cushman & Wakefield brand in the United States, Australia, the United Kingdom, and internationally. The company operates through Americas; Europe, Middle East, and Africa; and Asia Pacific segments. It offers integrated facilities management, project and development, portfolio administration, transaction management, and strategic consulting services; property management services, including client accounting, engineering and operations, lease compliance administration, project and development, and sustainability services; and self-performed facilities services, which include janitorial, maintenance, critical environment management, landscaping, and office services. The company also provides owner representation and tenant representation leasing services; capital market services, including investment sales and equity, and debt and structured financing for real estate purchase and sales transactions; and appraisal management, investment management, valuation advisory, portfolio advisory, diligence advisory, dispute analysis and litigation support, financial reporting, and property and/or portfolio valuation services on real estate debt and equity decisions. Cushman & Wakefield has strategic partnerships with Vanke Service (Hong Kong) Co., Limited. It serves real estate owners and occupiers, such as tenants, investors, and multi-national corporations. Cushman & Wakefield plc was founded in 1784 and is based in London, the United Kingdom.

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Here are 1-3 brief analogies for Cushman & Wakefield (CWK):

  • Think of it as the Accenture or Deloitte for commercial real estate.
  • It's like a global RE/MAX or Coldwell Banker, but exclusively for commercial properties and large corporate clients.
  • You could also see them as a specialized investment bank and advisory firm, focused solely on commercial real estate financing and transactions.

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  • Property Management: Provides comprehensive oversight of real estate assets, including financial, operational, and sustainability services.
  • Facilities Management & Services: Delivers integrated management and self-performed operational services such as janitorial, maintenance, and critical environment management for properties.
  • Leasing Services (Owner & Tenant Representation): Represents property owners and tenants in commercial real estate leasing negotiations and transactions.
  • Capital Markets Services: Facilitates real estate investment sales, equity, and debt financing solutions for clients.
  • Valuation & Advisory Services: Offers expert appraisals, valuations, and strategic advice for real estate debt, equity, and investment decisions.
  • Strategic Consulting: Provides expert guidance on broad real estate strategies and portfolio optimization for owners and occupiers.
  • Project & Development Services: Manages real estate development projects from planning and design through to completion.
  • Transaction Management: Coordinates the overall processes for real estate acquisitions, dispositions, and leasing for clients.
  • Portfolio Administration: Handles the administrative tasks and reporting associated with managing large real estate portfolios.

AI Analysis | Feedback

Cushman & Wakefield (CWK) primarily sells its services to other companies rather than individuals. While the company serves a broad range of corporate clients globally, specific major customer company names are not disclosed in the provided information. However, its major customers can be categorized as follows:

  • Real Estate Owners: These include institutional investors, property development companies, and other entities that own commercial real estate assets.
  • Real Estate Occupiers / Tenants: This category encompasses businesses, including multi-national corporations, that lease and utilize commercial properties for their operations.
  • Real Estate Investors: These are companies and funds involved in real estate purchase and sales transactions, as well as those seeking equity, debt, and structured financing solutions for their real estate investments.

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CoStar Group (CSGP)

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Michelle MacKay, Chief Executive Officer

Michelle MacKay was appointed Chief Executive Officer in July 2023, having previously served as President and Chief Operating Officer, and initially joining Cushman & Wakefield's Board of Directors in 2018. Before her tenure at Cushman & Wakefield, she served as Executive Vice President, Investments & Head of Capital Markets at iStar, Inc., a real estate investment trust (REIT). Her career also includes leadership roles at UBS as Executive Director, Commercial Real Estate; J.P. Morgan as Vice President, Fixed Income; and The Hartford Financial Services Group, Inc. (HIMCO) as Assistant Vice President, Real Estate and Fixed Income. Ms. MacKay is recognized for her ability to unlock value for real estate assets and companies and has served on three public company boards.

Neil Johnston, Global Chief Financial Officer

Neil Johnston joined Cushman & Wakefield as Executive Vice President and Chief Financial Officer in February 2021. With over 30 years of finance experience, he previously served as EVP and CFO of Presidio, an IT solutions provider. Prior to Presidio, Mr. Johnston spent two decades in various finance leadership positions at Cox Enterprises, a privately held global conglomerate, including EVP and CFO of Cox Automotive and EVP of Strategy and Digital Innovation of Cox Media Group (CMG), where he also served as CFO. His earlier career involved roles at Coca-Cola Enterprises and Deloitte.

Andrew McDonald, Global President & Chief Operating Officer

Andrew McDonald serves as Global President and Chief Operating Officer, responsible for overseeing all commercial service lines, geographic regions, and global Marketing, Communications & Research functions. He has held several senior leadership positions at Cushman & Wakefield, including President for the Americas and Asia Pacific regions, and Chief Executive Officer of the Americas region. Mr. McDonald began his professional career at ASIMCO, a Beijing-based private equity firm that was acquired by Bain Capital. In 1999, he joined Cushman Realty Corporation, which subsequently merged with Cushman & Wakefield in 2001.

Noelle Perkins, Executive Vice President, Chief Legal Officer & Corporate Secretary

Noelle Perkins holds the position of Executive Vice President, Chief Legal Officer & Corporate Secretary for Cushman & Wakefield.

Nathaniel Robinson, Executive Vice President, Chief Investment & Strategy Officer

Nathaniel Robinson is the Executive Vice President, Chief Investment & Strategy Officer at Cushman & Wakefield.

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Key Risks to Cushman & Wakefield (CWK)

Cushman & Wakefield (CWK) faces several key risks inherent to its operations in the commercial real estate (CRE) services industry. The most significant risks include the cyclical nature of the commercial real estate market, the company's notable indebtedness, and the highly competitive industry coupled with structural changes in real estate utilization.

1. Cyclical Nature of the Commercial Real Estate Market and Macroeconomic Conditions

Cushman & Wakefield's business performance is highly sensitive to the cyclical nature of the commercial real estate market and broader macroeconomic conditions. Economic downturns, fluctuations in interest rates, inflation, and geopolitical risks can significantly impact demand for real estate services, investment sales, leasing activity, and overall transaction volumes, thereby directly affecting the company's revenue and profitability. For instance, the company's 2025 outlook noted that despite a shift "from resilience to optimism," risks remain on both sides of the economic outlook.

2. Substantial Indebtedness

The company carries a notable amount of debt, which limits its financial flexibility and increases its vulnerability to economic downturns. Cushman & Wakefield's debt-to-equity ratio has been identified as high compared to the broader industry average, and its Altman Z-Score has placed it in the "distress zone," indicating a statistical risk of bankruptcy within two years. Although the company has been actively working on debt reduction, with significant prepayments made in 2025, the level of debt remains a primary financial risk.

3. Highly Competitive Industry and Structural Changes in Real Estate Utilization

Cushman & Wakefield operates within a fiercely competitive global commercial real estate services industry, contending with numerous large multinational firms as well as smaller regional players. To maintain market share, the company must continuously innovate and differentiate its services. Furthermore, the industry is experiencing structural changes, such as the increasing prevalence of hybrid working models, which are altering the utilization of commercial real estate and posing ongoing challenges for the company.

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The structural shift towards remote and hybrid work models represents a clear emerging threat to Cushman & Wakefield. This ongoing trend significantly reduces the demand for traditional office space, directly impacting CWK's core services related to office leasing, property management, project development, and capital markets activity for office assets globally. This shift is not merely cyclical but reflects a fundamental change in how companies utilize commercial real estate, potentially leading to sustained lower transaction volumes and asset valuations within the office sector.

AI Analysis | Feedback

Cushman & Wakefield (CWK) operates within several large addressable markets for its commercial real estate services. The primary markets for their services, along with their estimated sizes and regions, are detailed below:

Commercial Real Estate Brokerage and Management Services

  • The global commercial real estate brokerage and management market was valued at approximately USD 264.74 billion in 2023 and is projected to reach USD 494.96 billion by 2032. In 2024, this market reached USD 276.2 billion.
  • In the United States, the commercial real estate brokerage industry recorded combined annual revenue of approximately USD 112 billion, as of December 2025. The market size for Real Estate Sales & Brokerage in the US was USD 238.5 billion in 2024 and is projected to be USD 240.0 billion in 2025.

Facilities Management Services

  • The global facility management services market was valued at USD 1.75 trillion in 2024 and is projected to grow to USD 2.33 trillion by 2033. Another estimate places the global market at USD 1,367.96 billion in 2025, projected to reach USD 2,750.87 billion by 2034.
  • The United States facility management market was valued at USD 315.78 billion in 2024 and is expected to reach USD 442.89 billion by 2030. It was valued at USD 376.51 billion in 2026 and is projected to reach USD 434.16 billion by 2031.

Commercial Real Estate Investment/Capital Markets

  • The size of the professionally managed global real estate investment market was USD 12.5 trillion in 2024.
  • For the United States, the total transaction volume for commercial real estate reached USD 560.2 billion for the full year 2025. The U.S. investable commercial real estate universe was estimated at approximately USD 19 trillion as of September 2025.

Real Estate Valuation and Advisory Services

  • The global real estate valuation service market is projected to reach USD 9.2 billion in 2026 and grow to USD 13.1 billion by 2035. The real estate advisory service market globally was valued at USD 27.25 billion in 2024 and is projected to reach USD 29.44 billion in 2025. It is expected to grow to USD 31.76 billion in 2026.
  • The Real Estate Appraisal industry in the United States is estimated at USD 10.3 billion in 2026. The US real estate appraisal market was expected to be worth US$9.27 billion in 2023.

AI Analysis | Feedback

Cushman & Wakefield (symbol: CWK) is expected to experience future revenue growth over the next 2-3 years driven by several key factors: * Continued Strength in Capital Markets: Cushman & Wakefield has reported a fifth consecutive quarter of double-digit year-over-year Capital Markets revenue growth in Q4 2025, a trend expected to continue. This growth is supported by healthy commercial real estate end markets, solid demand across all major asset classes, and improved pricing and liquidity. * Sustained Growth in Services Revenue: The company has seen continued momentum in its Services revenue, which includes integrated facilities management, project and development, and property management services. This segment grew 8% (6% in local currency) in Q4 2025, with particular strength in project management in EMEA and APAC. * Recovery and Growth in Leasing Activities: Leasing revenue increased by 6% (5% in local currency) in Q4 2025, driven by strong performance in the Americas and EMEA. This is further supported by positive growth across all regions, including strength in office and industrial sectors, a higher deal count, and increased revenue per lease, with expectations of strengthening leasing demand fueled by economic growth. * Healthy Commercial Real Estate End Markets: The commercial real estate environment is characterized by solid demand across all major asset classes, coupled with improved pricing and liquidity. This fundamental health of the overall real estate market provides a positive backdrop for all of Cushman & Wakefield's service lines and is a key underlying driver for future revenue.

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Share Repurchases

  • Cushman & Wakefield announced a share repurchase program in September 2022, authorizing the repurchase of up to $300 million worth of its shares.
  • As of the Q4 2025 earnings call, management indicated a future openness to share buybacks after achieving deleveraging targets.

Outbound Investments

  • In the fourth quarter of 2025, Cushman & Wakefield recognized a one-time, non-cash impairment loss of $177.0 million related to its equity method investment in the Greystone Joint Venture.
  • The company is strategically investing in AI-driven tools across various business lines to enhance integration, drive cross-selling, and create operating leverage.
  • Cushman & Wakefield expanded its global capital markets platform by onboarding over 45 new institutional capital markets advisors in key markets.

Capital Expenditures

  • Capital expenditures are accounted for as "Payment for property and equipment" in the investing activities section of the Consolidated Statements of Cash Flows when calculating free cash flow.
  • Cushman & Wakefield is balancing its organic growth investments, which include capital expenditures, with its deleveraging targets.
  • The adjusted EBITDA margin saw a slight contraction in Q4 2025, attributed to increased investments for future growth.

Better Bets vs. Cushman & Wakefield (CWK)

Trade Ideas

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ARE_3062026_Insider_Buying_GTE_1Mil_EBITp+DE_V203062026AREAlexandria Real Estate EquitiesInsiderInsider Buys | Low D/EStrong Insider Buying
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VNO_3062026_Insider_Buying_GTE_1Mil_EBITp+DE_V203062026VNOVornado Realty TrustInsiderInsider Buys | Low D/EStrong Insider Buying
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Recent Active Movers

Peer Comparisons

Peers to compare with:

Financials

CWKCBREJLLCIGINMRKMMIMedian
NameCushman .CBRE Jones La.Colliers.Newmark Marcus &. 
Mkt Price13.22141.22317.74111.1515.1526.2068.67
Mkt Cap3.141.915.05.72.71.04.4
Rev LTM10,28840,55126,1165,5583,2947557,923
Op Inc LTM4591,2941,173402191-14430
FCF LTM2931,19397825114359272
FCF 3Y Avg187923656198-74-3192
CFO LTM3401,5591,19433017267335
CFO 3Y Avg2341,249852274-355254

Growth & Margins

CWKCBREJLLCIGINMRKMMIMedian
NameCushman .CBRE Jones La.Colliers.Newmark Marcus &. 
Rev Chg LTM8.9%13.4%11.4%15.3%20.3%8.5%12.4%
Rev Chg 3Y Avg0.8%9.7%7.9%7.9%7.5%-11.4%7.7%
Rev Chg Q10.8%11.8%11.7%7.0%15.3%1.6%11.3%
QoQ Delta Rev Chg LTM2.8%3.1%3.2%1.9%4.2%0.5%3.0%
Op Mgn LTM4.5%3.2%4.5%7.2%5.8%-1.8%4.5%
Op Mgn 3Y Avg3.7%3.4%3.9%7.6%5.3%-5.2%3.8%
QoQ Delta Op Mgn LTM-0.2%-0.7%0.4%0.1%0.4%1.2%0.3%
CFO/Rev LTM3.3%3.8%4.6%5.9%5.2%8.8%4.9%
CFO/Rev 3Y Avg2.4%3.4%3.6%5.5%-2.0%0.2%2.9%
FCF/Rev LTM2.8%2.9%3.7%4.5%4.3%7.8%4.0%
FCF/Rev 3Y Avg1.9%2.5%2.7%3.9%-3.4%-1.0%2.2%

Valuation

CWKCBREJLLCIGINMRKMMIMedian
NameCushman .CBRE Jones La.Colliers.Newmark Marcus &. 
Mkt Cap3.141.915.05.72.71.04.4
P/S0.31.00.61.00.81.30.9
P/EBIT9.132.412.814.611.7268.213.7
P/E34.736.218.955.021.7-532.928.2
P/CFO9.026.912.517.215.915.315.6
Total Yield2.9%2.8%5.3%2.1%4.8%1.8%2.8%
Dividend Yield0.0%0.0%0.0%0.3%0.2%2.0%0.1%
FCF Yield 3Y Avg5.8%2.2%5.2%2.8%-4.8%0.5%2.5%
D/E1.00.20.20.40.80.10.3
Net D/E0.70.20.10.40.7-0.20.3

Returns

CWKCBREJLLCIGINMRKMMIMedian
NameCushman .CBRE Jones La.Colliers.Newmark Marcus &. 
1M Rtn9.5%6.6%9.7%1.3%8.1%0.4%7.3%
3M Rtn-20.5%-14.7%-9.2%-23.8%-12.0%1.2%-13.3%
6M Rtn-9.5%-6.1%12.2%-25.6%-10.5%-3.6%-7.8%
12M Rtn65.5%21.1%49.0%-0.1%47.9%-12.2%34.5%
3Y Rtn35.9%100.4%131.8%13.5%133.5%-13.6%68.1%
1M Excs Rtn8.9%6.0%9.1%0.7%7.5%-0.2%6.7%
3M Excs Rtn-18.2%-13.4%-6.7%-22.5%-11.0%-0.2%-12.2%
6M Excs Rtn-12.0%-7.8%11.1%-27.6%-11.0%-7.3%-9.4%
12M Excs Rtn25.4%-12.9%15.9%-32.4%12.4%-48.3%-0.3%
3Y Excs Rtn-35.1%32.9%59.6%-56.0%56.9%-79.1%-1.1%

Comparison Analyses

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Financials

Segment Financials

Revenue by Segment
$ Mil20252024202320222021
Services6,5046,3085,6605,3312,949
Leasing1,8522,1061,8601,2881,939
Capital markets6981,1911,3547721,029
Valuation and other440500515453483
Gross contract reimbursables    2,351
Total9,49410,1069,3897,8448,751


Price Behavior

Price Behavior
Market Price$13.22 
Market Cap ($ Bil)3.1 
First Trading Date08/02/2018 
Distance from 52W High-23.1% 
   50 Days200 Days
DMA Price$13.32$14.62
DMA Trendupdown
Distance from DMA-0.8%-9.6%
 3M1YR
Volatility58.7%44.0%
Downside Capture1.560.91
Upside Capture286.58188.03
Correlation (SPY)51.8%56.0%
CWK Betas & Captures as of 3/31/2026

 1M2M3M6M1Y3Y
Beta1.472.562.451.841.341.47
Up Beta1.552.813.182.710.961.21
Down Beta-0.14-0.100.940.991.341.34
Up Capture235%362%311%195%257%472%
Bmk +ve Days7162765139424
Stock +ve Days10192957123364
Down Capture186%296%264%184%140%111%
Bmk -ve Days12233358110323
Stock -ve Days12233465122376

[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
Annualized
Return
Annualized
Volatility
Sharpe
Ratio
Correlation
with CWK
CWK63.2%44.8%1.23-
Sector ETF (XLRE)18.8%15.1%0.9346.7%
Equity (SPY)31.2%17.3%1.4751.9%
Gold (GLD)60.1%27.8%1.691.8%
Commodities (DBC)29.8%16.6%1.582.9%
Real Estate (VNQ)21.3%15.2%1.0752.7%
Bitcoin (BTCUSD)-5.7%43.7%-0.0125.2%

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Based On 5-Year Data
Annualized
Return
Annualized
Volatility
Sharpe
Ratio
Correlation
with CWK
CWK-4.5%42.3%0.02-
Sector ETF (XLRE)4.5%19.0%0.1457.7%
Equity (SPY)11.1%17.0%0.5055.4%
Gold (GLD)22.1%17.8%1.029.7%
Commodities (DBC)11.8%18.8%0.5211.8%
Real Estate (VNQ)3.7%18.8%0.1061.7%
Bitcoin (BTCUSD)4.0%56.5%0.2920.9%

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Based On 10-Year Data
Annualized
Return
Annualized
Volatility
Sharpe
Ratio
Correlation
with CWK
CWK-2.9%47.4%0.10-
Sector ETF (XLRE)6.4%20.4%0.2756.4%
Equity (SPY)13.8%17.9%0.6657.0%
Gold (GLD)14.2%15.9%0.743.3%
Commodities (DBC)8.6%17.6%0.4121.0%
Real Estate (VNQ)5.1%20.7%0.2261.7%
Bitcoin (BTCUSD)67.4%66.9%1.0717.4%

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Short Interest

Short Interest: As Of Date3312026
Short Interest: Shares Quantity8.0 Mil
Short Interest: % Change Since 31520262.0%
Average Daily Volume1.7 Mil
Days-to-Cover Short Interest4.7 days
Basic Shares Quantity231.5 Mil
Short % of Basic Shares3.4%

Earnings Returns History

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 Forward Returns
Earnings Date1D Returns5D Returns21D Returns
2/19/2026-3.2%1.5%-10.5%
10/30/2025-2.1%-6.2%0.6%
8/5/20258.7%9.6%24.7%
2/20/2025-6.0%-7.8%-18.8%
11/4/202415.4%14.8%15.1%
7/29/2024-3.6%-10.3%-2.3%
2/20/2024-10.2%-11.8%-11.0%
10/30/20238.7%19.5%22.7%
...
SUMMARY STATS   
# Positive91011
# Negative131211
Median Positive4.2%6.1%15.1%
Median Negative-3.6%-7.0%-10.3%
Max Positive15.4%19.5%24.7%
Max Negative-10.7%-17.7%-26.8%

SEC Filings

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Report DateFiling DateFiling
12/31/202502/19/202610-K
09/30/202510/30/202510-Q
06/30/202508/05/202510-Q
03/31/202504/29/202510-Q
12/31/202402/21/202510-K
09/30/202411/05/202410-Q
06/30/202407/30/202410-Q
03/31/202404/30/202410-Q
12/31/202302/21/202410-K
09/30/202310/31/202310-Q
06/30/202308/01/202310-Q
03/31/202305/05/202310-Q
12/31/202202/24/202310-K
09/30/202211/04/202210-Q
06/30/202208/05/202210-Q
03/31/202205/06/202210-Q

Insider Activity

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#OwnerTitleHoldingActionFiling DatePriceSharesTransacted
Value
Value of
Held Shares
Form
1Sun, Angela DirectSell909202516.026,800108,936744,898Form
2Robinson, NathanielSee RemarksDirectSell304202613.5010,000135,0001,427,004Form