Cushman & Wakefield Ltd.(CWK)Stock Analysis
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Pending next ranking run
This company passes all size and coverage filters but hasn't been included in the latest quarterly ranking run. Rankings refresh on Jan 1, Apr 1, Jul 1, Oct 1.
Financial data, filings, and institutional holdings below are still tracked in full — only the proprietary quality composite is unavailable for this name.
CWK Stock Analysis & AI Quality Score
AI stock analysis and institutional research for Cushman & Wakefield Ltd. (CWK), a Real Estate sector company. CWK is not currently included in 13F Pro's AI-ranked quality universe — this company passes all size and coverage filters but hasn't been included in the latest quarterly ranking run. rankings refresh on jan 1, apr 1, jul 1, oct 1. Based on the latest XBRL financial filings (Q1 2026), Cushman & Wakefield Ltd. reports quarterly revenue of $2.5B, net income of $-12.6M, an operating margin of 2.3%. Top institutional holders of CWK by reported 13-F value include VANGUARD PORTFOLIO MANAGEMENT, BlackRock,, DIMENSIONAL FUND ADVISORS, based on the most recent SEC filings. CWK trades on the NYSE exchange and files with the SEC under CIK 1628369. 13F Pro's AI research platform runs 10 specialized AI analysts — value, growth, momentum, macro, and activist specialists — that debate CWK daily and publish AI-generated analysis with cited SEC sources. The platform aggregates historical XBRL financial facts, 10-Q and 10-K filings, insider Form 4 transactions, and institutional 13-F holdings for Cushman & Wakefield Ltd. directly from SEC EDGAR.
Revenue
Q1 2026
$2.5B
Net Income
Q1 2026
$-12.6M
Free Cash Flow
Q1 2026
$-255.7M
Operating Margin
Q1 2026
2.3%
ROIC
Q1 2026
1.3%
D/E Ratio
Q1 2026
1.54
Revenue & Net Income
Earnings Per Share
Key Financials Over Time
Export Financial Table · Pro+Revenue
+8.9% YoYNet Income
-32.8% YoYOperating Income
+33.5% YoYEPS (Diluted)
-32.1% YoYTotal Assets
+1.7% YoYTotal Debt
-7.6% YoYOp. Cash Flow
+63.7% YoY| Metric | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2018 |
|---|---|---|---|---|---|---|
| Revenue | $10.29B +8.9% | $9.45B -0.5% | $9.49B -6.1% | $10.11B +7.6% | $9.39B +14.2% | $8.22B |
| Net Income | $88.2M -32.8% | $131.3M +470.9% | $-35.4M -118.0% | $196.4M -21.4% | $250.0M +234.6% | $-185.8M |
| Operating Income | $452.5M +33.5% | $338.9M +64.8% | $205.6M -61.6% | $535.1M +7.7% | $497.0M +3844.4% | $12.6M |
| EPS (Diluted) | $0.38 -32.1% | $0.56 +450.0% | $-0.16 -118.6% | $0.86 -21.8% | $1.10 +200.9% | $-1.09 |
| Total Assets | $7.68B +1.7% | $7.55B -2.9% | $7.77B -2.2% | $7.95B +0.7% | $7.89B +20.5% | $6.55B |
| Total Debt | $2.99B -7.6% | $3.24B -8.4% | $3.53B +5.5% | $3.35B +1.5% | $3.30B +18.1% | $2.80B |
| Operating Cash Flow | $340.4M +63.7% | $208.0M +36.7% | $152.2M +210.0% | $49.1M -91.1% | $549.5M +25077.3% | $-2.2M |
AI Insight: CWK Financial Trends
Revenue hit a new quarterly high of $2,914M in Q4 2025, but Q1 2026 net loss and deeply negative operating cash flow signal a fragile start to 2026.
• Revenue grew year-over-year in every comparable quarter: Q1 2026 at $2,536M vs. Q1 2025 at $2,285M, up ~11%.
• Total debt fell from $3,415M in Q2 2024 to $2,989M in Q4 2025, a $426M reduction, before ticking back to $3,002M in Q1 2026.
• Net income swung to a loss of -$22M in Q4 2025 and -$13M in Q1 2026, despite both quarters showing positive operating income.
• Operating cash flow turned sharply negative at -$244M in Q1 2026, worse than -$162M in Q1 2025, continuing a seasonal but deepening pattern.
⚠ Operating cash flow of -$244M in Q1 2026 is the worst in the dataset; monitor whether Q2 2026 recovery matches last year's bounce to $10M.
⚠ Debt ticked up $13M quarter-over-quarter to $3,002M in Q1 2026, breaking a multi-quarter deleveraging trend — watch for resumption.
⚠ Equity held nearly flat at $1,952M–$1,958M across the last three quarters despite revenue growth, suggesting earnings are not accreting book value.
AI Insight: CWK Ratio Trends
Leverage is meaningfully lower but net losses in Q4 2025 and Q1 2026 signal profitability pressure eroding the balance-sheet progress.
• D/E ratio declined from 2.08 in Q2 2024 to 1.54 in Q1 2026, a sustained deleveraging trend across six consecutive quarters.
• Operating margin has been range-bound at 2–5% outside Q4 seasonal peaks (Q4 2024: 6.6%, Q4 2025: 6.1%), with no structural expansion visible.
• NPM turned negative in Q4 2025 (-0.8%) and Q1 2026 (-0.5%), despite positive operating margins, suggesting rising below-the-line costs or charges.
• ROIC dropped from 14.3% in Q4 2025 to 4.7% in Q1 2026, continuing the sharp seasonal trough pattern seen in Q1 2025 (3.6%).
⚠ Back-to-back negative NPM in Q4 2025 and Q1 2026 warrants scrutiny of interest expense or one-off items depressing net income below operating profit.
⚠ Q1 seasonality consistently crushes returns (Q1 2025 ROE: 0.4%; Q1 2026: -2.6%) — monitor whether Q2 2026 rebounds as strongly as Q2 2025.
⚠ TTM ROIC of 9.4% is constructive, but sustained quarterly ROIC below cost of capital risks value erosion despite improving leverage.
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Available Research
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Top Institutional Holders of CWK
VANGUARD PORTFOLIO MANAGEMENT LLC
$298.7M24,366,565 shBlackRock, Inc.
$278.1M22,679,643 shDIMENSIONAL FUND ADVISORS LP
$162.4M13,248,848 shVANGUARD CAPITAL MANAGEMENT LLC
$127.4M10,388,259 shSTATE STREET CORP
$112.0M9,132,316 shVAUGHAN NELSON INVESTMENT MANAGEMENT, L.P.
$110.9M9,048,011 shFMR LLC
$102.8M8,382,786 shGEODE CAPITAL MANAGEMENT, LLC
$75.6M6,168,040 shChanning Capital Management, LLC
$66.9M5,460,628 shEurizon Capital SGR S.p.A.
$60.9M4,989,906 sh
| Fund | Value | Shares |
|---|---|---|
| VANGUARD PORTFOLIO MANAGEMENT LLC | $298.7M | 24,366,565 |
| BlackRock, Inc. | $278.1M | 22,679,643 |
| DIMENSIONAL FUND ADVISORS LP | $162.4M | 13,248,848 |
| VANGUARD CAPITAL MANAGEMENT LLC | $127.4M | 10,388,259 |
| STATE STREET CORP | $112.0M | 9,132,316 |
| VAUGHAN NELSON INVESTMENT MANAGEMENT, L.P. | $110.9M | 9,048,011 |
| FMR LLC | $102.8M | 8,382,786 |
| GEODE CAPITAL MANAGEMENT, LLC | $75.6M | 6,168,040 |
| Channing Capital Management, LLC | $66.9M | 5,460,628 |
| Eurizon Capital SGR S.p.A. | $60.9M | 4,989,906 |
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Popular Research
Is CWK a good stock to buy?
13F Pro's AI-powered analysis of Cushman & Wakefield Ltd. (CWK) draws on SEC EDGAR-sourced fundamentals, institutional 13F holdings, and insider Form 4 transactions in the Real Estate sector (listed on NYSE). The 32-signal AI Quality Score, current rank, and full bull/bear verdict for CWK are available on the CWK stock profile dashboard — with the same data, AI insights, ratios, and institutional activity refreshed after every 10-K, 10-Q, 13F, and Form 4 filing.
Which hedge funds own CWK?
Institutional investors are required to disclose their holdings quarterly via SEC Form 13F. 13F Pro aggregates these filings to show which hedge funds, mutual funds, and asset managers are buying or selling CWK. Combined with insider transaction data from Form 4 filings and AI-powered analysis from 10 specialized research agents, 13F Pro provides a comprehensive view of Cushman & Wakefield Ltd.'s investment landscape.