Cushman & Wakefield Ltd. Common Shares (CWK)

FairStock Score: 35/100 — MIXED

Key Financials

AI Analysis

AI-generated, general educational analysis — not personal investment advice.

Commercial real estate services are cyclical and competitive, and Cushman & Wakefield’s results reflect that. In fiscal Q2 2026, the quarter ended 2026-06-30, revenue was $2.8B, net income $52.7M, and diluted EPS $0.22; in fiscal Q2 2025, the quarter ended 2025-06-30, revenue was $2.5B, net income $57.3M, and diluted EPS $0.25. For FY2025, revenue was $10.3B, net income $88.2M, and diluted EPS $0.38, versus FY2024 revenue $9.4B, net income $131.3M, and diluted EPS $0.56. FY2023 had a loss of $35.4M. So revenue is growing, but profits are thin and declining. The business has global scale and 53,000 employees, yet the moat is limited; services are competitive and tied to property cycles. Financial health is mixed: FairStock calculations show ROE 3.52%, ROCE 3.94%, debt-to-equity 1.50, and Altman Z-Score 0.59. Cash flow is a positive, with trailing free cash flow of $249.1M and a 9.3% FCF yield. On valuation, at the 2026-10-13 close of $11.39, FairStock’s P/E is 39.28, P/B 1.32, EV/EBITDA 9.96, Graham Number $7.50, and margin of safety -51.87%. The Piotroski F-Score is 7/9, but the FairStock Score is 35/100. The Lynch category is TURNAROUND, as it returned to profit after a loss within the last three years. I would want evidence that margins and returns are durable before calling this a bargain.

In plain English: Cushman & Wakefield helps companies and property owners manage, lease, buy, and sell commercial real estate. It has returned to profit, but earnings are thin and fell from a year ago even as revenue rose. At $11.39, the shares look expensive compared with recent profits, though the business does generate notable cash.

The full AI analysis, bull and bear case and key monitorables are in FairStock Pro.

Data as of 2026-10-13 close · note generated 2026-10-15 · model deepseek-flash

Sources (SEC EDGAR): fiscal Q2 2026 10-Q (period ended 2026-06-30) · fiscal Q1 2026 10-Q (period ended 2026-03-31) · fiscal Q3 2025 10-Q (period ended 2025-09-30) · fiscal Q2 2025 10-Q (period ended 2025-06-30) · FY2025 10-K (period ended 2025-12-31) · FY2024 10-K (period ended 2024-12-31) · FY2023 10-K (period ended 2023-12-31)

Fundamentals from company filings and market-data providers; prices are end-of-day, not real-time. AI-generated analysis is general and educational — not personal investment advice. Scoring methodology · Score test · Disclaimer