NYSE$CWK

Cushman & Wakefield PLC · Q4 2025 earnings

Q4 2025 earnings · · Before market open · Investor relations

Briefing

Cushman & Wakefield reported Q4 2025, revenue of $2.90B, net loss of $22.4M, diluted EPS of $-0.10.

For Q4 2025, Cushman & Wakefield reported revenue of $2.90B, a net loss of $22.4M, diluted EPS was $-0.10, adjusted diluted EPS was $0.48. Management discusses segment performance, capital allocation, and outlook in the earnings release.

  • Revenue $2.90B.
  • Net loss $22.4M.
  • Diluted EPS $-0.10.
  • Adjusted diluted EPS $0.48.

Headline financials

Total Revenue

$2.9B

Previous: $2.63B+10.3%
EPS (adj)

$0.48

Previous: $0.48+0.0%
Adjusted EBITDA

$225M

Previous: $300M-25.0%
Adjusted EBITDA Margin

9.0%

Previous: 10.6%-15.1%
Net Income Margin

2.4%

Previous: 3.5%-31.4%
Liquidity

$1.5B

No prior period
Net Debt

$2.8B

No prior period
Net Income

-$22.4M

Previous: $113M-119.8%
Operating Income

$110M

Previous: $175M-37.0%
Gross Profit

$1.5B

No prior period

Revenue & EPS history

Cushman & Wakefield · Revenue · Quarterly

$2.9B

Q4 2025+10.3%vs Q4 2024
Beat estimate in 13 of 15 quarters(87%)
ActualEstimate

Revenue by segment

Cushman & Wakefield · $2.3B total across 4 segments · Q3 2023

  • Services
    $1.59B
  • Leasing
    $436M-16.0%
  • Capital Markets
    $176M-33.0%
  • Valuation & Other
    $97.3M-16.7%

Forward guidance

The release discusses Cushman & Wakefield's outlook for upcoming periods, including capital allocation, operating priorities, and market risks, without relying solely on numeric EPS bridges.

Tailwinds

  • Cushman & Wakefield cites operational execution and demand trends supporting the outlook.
  • Balance sheet and liquidity actions aim to fund growth and returns.

Headwinds

  • GAAP profitability remained under pressure in Q4 2025.
  • Macro, pricing, and input-cost volatility could pressure margins.
  • Segment mix and one-time items may affect quarter-to-quarter comparability.

Historical earnings impact

How earnings announcements have historically affected this stock's price.

Avg. return before/after earnings

Based on 20 quarterly earnings reports · overlaid with Q4 2025

Historical avgQ4 2025

-0.2%

Avg return

Earnings day

-0.2%

Avg return

5 days after

-2.3%

Avg return

30 days after

42%

15 / 36 earnings

Positive

+16.4%

Q3 2024

Best reaction

-13.9%

Q1 2023

Worst reaction

Earnings price reactions
QuarterReport dateReaction (Day 0)+5 days+30 days
Q1 2026-4.4%-7.7%-7.6%
Q4 2025-3.2%+0.1%-12.7%
Q3 2025-2.1%-5.4%+1.3%
Q1 2025+4.4%+11.9%+12.4%
Q4 2024-6.0%-8.9%-19.8%
Q3 2024+16.4%+14.5%+16.0%
Q2 2024-5.2%-8.4%-4.3%
Q1 2024-0.7%+3.1%+10.8%
Q4 2023-13.1%-14.7%-11.2%
Q3 2023+10.3%+23.7%+24.6%
Q2 2023+6.1%+6.9%-4.6%
Q1 2023-13.9%-17.3%-7.9%
Q4 2022-2.4%-2.7%-26.4%
Q3 2022-2.4%-3.0%+10.3%
Q2 2022-4.2%-5.2%-12.5%
Q1 2022-2.8%-6.0%-5.7%
Q4 2021+4.5%-3.6%-9.0%
Q3 2021+6.5%+2.7%+0.4%
Q2 2021-0.9%-1.5%-3.9%
Q1 2021+6.7%+2.3%+3.3%
Q4 2020-9.7%-13.2%-3.4%
Q3 2020-3.8%+10.5%+26.0%
Q2 2020+1.8%+8.3%+8.1%
Q1 2020+3.3%-9.8%+23.6%
Q4 2019+5.6%+8.3%-30.9%
Q3 2019-4.5%-2.3%-0.9%
Q2 2019-6.1%-11.6%-15.1%
Q1 2018-6.1%-7.1%-7.2%
Q1 2019-6.2%-7.4%-11.8%
Q2 2018-1.4%-0.4%-5.7%
Q4 2018-0.4%+3.0%-3.3%
Q3 2017+8.5%+8.4%-1.4%
Q3 2018+13.2%+11.0%+4.1%
Q1 2017+2.2%+5.9%-5.8%
Q2 2017+2.2%+5.9%-5.8%
Q4 2017+2.2%+4.3%-5.7%

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