CWK
Cushman & Wakefield Limited
NYSEUSDEQUITY
Real Estate
DELAYED
Sell
-30/100
Last price
11.94
▲ 0.09 (0.76%)
MARKET · —
Price
Chart style
Interval
Intraday intervals only cover recent history. The site picks the finest interval the range allows.
Overlays
Session levels
Lower pane
Overlay another symbol
Both series are rebased to 0% at the left edge, so the lines show relative performance rather than price.
Tool
1D
—
H —
L —
Range —
Vol —
vs
Drag pan · Pinch zoom · Hold crosshair · pick a tool then drag to draw
Open
—
Prev close
11.85
Day high
12.35
Day low
11.85
Volume
2.66M
Market cap
$2.80B
P/E (TTM)
41.17
52W range
11.57 – 17.40
Trailing performance
Returnvs SPY
1W
+1.62%
-0.3%
1M
-12.59%
-13.7%
3M
-11.03%
-15.5%
6M
-5.98%
-24.2%
YTD
-26.25%
-40.5%
1Y
-24.67%
-41.1%
3Y
+56.69%
-25.6%
5Y
—
—
Price return only. Dividends are not reinvested, so total return on a dividend payer will be higher than shown.
Unusual options activity
Nothing crossed the thresholds in the expiries we scanned.
That is the normal state — most contracts trade well inside their existing open interest.
That is the normal state — most contracts trade well inside their existing open interest.
Contracts trading at or above their open interest, ranked by notional and where the print landed.
Free account
5 more panels on CWK open with an account.
Options chains and analytics, valuation ratios, insider filings, analyst targets and ownership. No card, no trial, nothing to cancel.
Insider net activity
Net shares
+499.33K
Net buying
Buy transactions
12
562.66K shares
Sell transactions
4
63.33K shares
Net transactions
+16
Buys less sells
Sell : buy shares
0.1 : 1
Mixed
Insider-held shares
1.94M
Total on file
Insider transactions
| Date | Insider | Action | Shares | Value | Held |
|---|---|---|---|---|---|
| Sep 8, 26 | ROBINSON NATHANIEL B Chief Investment Officer |
SELL | 12.50K | $167.38K | Direct |
| Aug 13, 26 | SAYED LAURIDA Officer |
SELL | 16.00K | $222.08K | Direct |
| Jul 31, 26 | WENNES TIMOTHY H Director |
CONVERSION | 11.87K | $159.34K | Direct |
| Jul 31, 26 | DAIMLER SUSAN Director |
CONVERSION | 11.87K | $159.34K | Direct |
| Jul 1, 26 | MACKAY MICHELLE M Chief Executive Officer |
— | 158.24K | — | Direct |
| Jul 1, 26 | PERKINS NOELLE J Officer |
— | 193.77K | — | Direct |
| Jul 1, 26 | MCDONALD ANDREW R Chief Operating Officer |
— | 67.82K | — | Direct |
| Jun 4, 26 | ROBINSON NATHANIEL B Chief Investment Officer |
SELL | 24.83K | $328.97K | Direct |
| Jun 1, 26 | FELMAN MICHELLE Director |
STOCK | 17.01K | $0 | Direct |
| May 15, 26 | FELMAN MICHELLE Director |
— | 17.01K | — | Direct |
| May 15, 26 | WILLIAMSON BILLIE IDA Director |
— | 17.01K | — | Direct |
| May 15, 26 | MCPEEK JENNIFER J Director |
— | 17.01K | — | Direct |
| May 15, 26 | MCLEAN JODIE W. Director |
— | 17.01K | — | Direct |
| May 15, 26 | SUN ANGELA Director |
— | 17.01K | — | Direct |
What this is, and what it is not
These are SEC Form 4 filings — officers, directors and 10% owners reporting their own trades in the company's stock. Filing is due within two business days of the transaction, so this lags reality by days, and the provider adds its own lag on top.
A sale is not automatically bearish. Executives sell on scheduled 10b5-1 plans, to cover tax on vesting equity, and to diversify. Purchases with cash are generally the more informative signal, and they are far rarer.
This does not include congressional or senate trading. That comes from STOCK Act disclosures filed with the Senate eFD system and the House Clerk, which this data source does not carry.
Officer and director trades in their own stock, straight from Form 4 filings.
Insider holders
| Name | Relation | Shares held | Latest |
|---|---|---|---|
FELMAN MICHELLE |
Director | 44.86K | Stock Gift |
JOHNSTON NEIL O |
Chief Financial Officer | 317.02K | Conversion of Exercise of derivative security |
MACKAY MICHELLE M |
Chief Executive Officer | 485.84K | Conversion of Exercise of derivative security |
MCDONALD ANDREW R |
Chief Operating Officer | 483.68K | Conversion of Exercise of derivative security |
MCLEAN JODIE W. |
Director | 88.84K | Conversion of Exercise of derivative security |
PERKINS NOELLE J |
Officer | 181.88K | Conversion of Exercise of derivative security |
ROBINSON NATHANIEL B |
Chief Investment Officer | 58.38K | Sale |
SUN ANGELA |
Director | 63.51K | Conversion of Exercise of derivative security |
WHITE WILLIAM BRETT |
Director | 1.65M | Conversion of Exercise of derivative security |
WILLIAMSON BILLIE IDA |
Director | 106.00K | Conversion of Exercise of derivative security |
Fundamentals
Market cap$2.80B
Enterprise value$5.33B
Revenue (TTM)$10.82B
Gross profit$1.96B
EBITDA$581.40M
Net income$69.10M
EPS (TTM)$0.29
Free cash flow$302.50M
Total cash$500.50M
Total debt$3.03B
Book value / share$8.62
Shares outstanding234.71M
Float232.66M
Short % of float7.86%
Dividend yield0.00%
Beta (5Y)1.51
Valuation & profitability ratios
Trailing P/E41.17
Forward P/E6.93
PEG ratio0.22
Price / sales—
Price / book1.38
EV / revenue0.49
EV / EBITDA9.17
Gross margin18.13%
Operating margin4.86%
Profit margin0.64%
Return on equity3.52%
Return on assets3.94%
Debt / equity149.83
Current ratio1.08
Fourteen ratios including P/E, PEG, EV/EBITDA, margins and return on equity.
Financial statements
| Line item | 2025 | 2024 | 2023 | 2022 | 2021 | YoY |
|---|---|---|---|---|---|---|
| Total revenue | $10.29B | $9.45B | $9.49B | $10.11B | — | +8.9% |
| Operating revenue | $10.29B | $9.45B | $9.49B | $10.11B | — | +8.9% |
| Cost of revenue | $8.41B | $7.72B | $7.84B | $8.15B | — | +8.9% |
| Gross profit | $1.88B | $1.73B | $1.65B | $1.95B | — | +8.9% |
| Selling, general & admin | — | — | $1.26B | $1.26B | $1.23B | — |
| Total operating expense | $1.42B | $1.35B | $1.41B | $1.41B | — | +5.6% |
| Operating income | $458.60M | $380.00M | $243.70M | $544.00M | — | +20.7% |
| Net interest income | -$216.20M | -$229.90M | -$281.10M | -$193.10M | — | +6.0% |
| Pre-tax income | $114.20M | $175.80M | -$30.00M | $338.00M | — | -35.0% |
| Tax provision | $26.00M | $44.50M | $5.40M | $141.60M | — | -41.6% |
| Net income | $88.20M | $131.30M | -$35.40M | $196.40M | — | -32.8% |
| Net income to common | $88.20M | $131.30M | -$35.40M | $196.40M | — | -32.8% |
| Basic EPS | 0.38 | 0.57 | -0.16 | 0.87 | — | -33.3% |
| Diluted EPS | 0.38 | 0.56 | -0.16 | 0.86 | — | -32.1% |
| EBIT | $330.40M | $405.70M | $251.10M | $531.10M | — | -18.6% |
| EBITDA | $521.10M | $614.40M | $494.50M | $780.20M | — | -15.2% |
| Basic shares | 231.20M | 228.90M | 226.90M | 225.40M | — | +1.0% |
| Diluted shares | 234.70M | 232.80M | 226.90M | 228.00M | — | +0.8% |
| Line item | 2025 | 2024 | 2023 | 2022 | YoY |
|---|---|---|---|---|---|
| Cash & equivalents | $784.20M | $793.30M | $767.70M | $644.50M | -1.1% |
| Cash & short-term investments | $784.20M | $793.30M | $767.70M | $644.50M | -1.1% |
| Accounts receivable | $1.52B | $1.35B | $1.47B | $1.46B | +12.1% |
| Total current assets | $2.84B | $2.69B | $2.80B | $2.77B | +5.7% |
| Property, plant & equipment | $406.30M | $423.60M | $492.80M | $527.70M | -4.1% |
| Goodwill & intangibles | $2.72B | $2.69B | $2.90B | $2.94B | +1.0% |
| Total assets | $7.68B | $7.55B | $7.77B | $7.95B | +1.7% |
| Total current liabilities | $2.59B | $2.33B | $2.40B | $2.39B | +11.2% |
| Current debt | $124.90M | $103.20M | $149.70M | $49.80M | +21.0% |
| Long-term debt | $2.62B | $2.94B | $3.10B | $3.21B | -10.7% |
| Total debt | $3.00B | $3.31B | $3.57B | $3.60B | -9.6% |
| Total liabilities | $5.72B | $5.79B | $6.10B | $6.29B | -1.3% |
| Retained earnings | -$897.70M | -$985.90M | -$1.12B | -$1.08B | +8.9% |
| Shareholder equity | $1.96B | $1.75B | $1.68B | $1.66B | +11.4% |
| Working capital | $251.30M | $360.50M | $406.00M | $376.40M | -30.3% |
| Net tangible assets | -$761.50M | -$936.00M | -$1.22B | -$1.28B | +18.6% |
| Shares issued | 231.70M | 229.70M | 227.28M | 225.78M | +0.9% |
| Line item | 2025 | 2024 | 2023 | 2022 | YoY |
|---|---|---|---|---|---|
| Net income | $88.20M | $131.30M | -$35.40M | $196.40M | -32.8% |
| Depreciation & amortisation | $190.70M | $208.70M | $243.40M | $249.10M | -8.6% |
| Stock-based compensation | $58.20M | $35.60M | $54.10M | $40.30M | +63.5% |
| Change in working capital | -$110.70M | -$138.60M | -$124.50M | -$538.80M | +20.1% |
| Operating cash flow | $340.40M | $208.00M | $152.20M | $49.10M | +63.7% |
| Capital expenditure | -$47.40M | -$41.00M | -$51.00M | -$50.70M | -15.6% |
| Investing cash flow | -$21.10M | $81.20M | $48.90M | -$120.70M | -126.0% |
| Share buybacks | -$11.20M | -$10.40M | -$8.10M | -$27.20M | -7.7% |
| Financing cash flow | -$350.50M | -$253.40M | -$120.80M | -$79.30M | -38.3% |
| Free cash flow | $293.00M | $167.00M | $101.20M | -$1.60M | +75.4% |
| End cash position | $803.50M | $814.60M | $801.20M | $719.00M | -1.4% |
| Line item | 2026-06-30 | 2026-03-31 | 2025-12-31 | 2025-09-30 | 2025-06-30 | YoY |
|---|---|---|---|---|---|---|
| Total revenue | $2.76B | $2.54B | $2.91B | $2.61B | $2.48B | +8.9% |
| Operating revenue | $2.76B | $2.54B | $2.91B | $2.61B | $2.48B | +8.9% |
| Cost of revenue | $2.25B | $2.12B | $2.34B | $2.15B | $2.02B | +6.4% |
| Gross profit | $512.00M | $420.70M | $574.50M | $453.90M | $467.30M | +21.7% |
| Total operating expense | $377.80M | $362.00M | $398.00M | $346.40M | $344.50M | +4.4% |
| Operating income | $134.20M | $58.70M | $176.50M | $107.50M | $122.80M | +128.6% |
| Net interest income | -$59.60M | -$49.20M | -$54.70M | -$56.00M | -$53.20M | -21.1% |
| Pre-tax income | $77.30M | -$9.60M | -$12.10M | $45.10M | $76.20M | +905.2% |
| Tax provision | $24.60M | $3.00M | $10.30M | -$6.30M | $18.90M | +720.0% |
| Net income | $52.70M | -$12.60M | -$22.40M | $51.40M | $57.30M | +518.3% |
| Net income to common | $52.70M | -$12.60M | -$22.40M | $51.40M | $57.30M | +518.3% |
| Basic EPS | 0.22 | -0.05 | -0.10 | 0.22 | 0.25 | +540.0% |
| Diluted EPS | 0.22 | -0.05 | -0.10 | 0.22 | 0.25 | +540.0% |
| EBIT | $134.20M | $39.60M | $48.30M | $107.50M | $122.80M | +238.9% |
| EBITDA | $185.20M | $87.10M | $95.70M | $154.50M | $170.70M | +112.6% |
| Basic shares | 234.40M | 232.80M | 231.60M | 231.50M | 231.40M | +0.7% |
| Diluted shares | 236.30M | 235.50M | 237.00M | 235.90M | 232.40M | +0.3% |
| Line item | 2026-06-30 | 2026-03-31 | 2025-12-31 | 2025-09-30 | 2025-06-30 | YoY |
|---|---|---|---|---|---|---|
| Cash & equivalents | $500.50M | $600.60M | $784.20M | $634.40M | $618.20M | -16.7% |
| Cash & short-term investments | $500.50M | $600.60M | $784.20M | $634.40M | $618.20M | -16.7% |
| Accounts receivable | $1.47B | $1.45B | $1.52B | $1.43B | $1.39B | +1.4% |
| Total current assets | $2.63B | $2.75B | $2.84B | $2.67B | $2.64B | -4.4% |
| Property, plant & equipment | $515.60M | $507.50M | $406.30M | $408.40M | $400.10M | +1.6% |
| Goodwill & intangibles | $2.69B | $2.70B | $2.72B | $2.72B | $2.73B | -0.4% |
| Total assets | $7.55B | $7.65B | $7.68B | $7.69B | $7.56B | -1.2% |
| Total current liabilities | $2.44B | $2.43B | $2.59B | $2.51B | $2.33B | +0.4% |
| Current debt | $243.30M | $129.80M | $124.90M | $129.20M | $174.80M | +87.4% |
| Long-term debt | $2.41B | $2.62B | $2.62B | $2.72B | $2.82B | -7.9% |
| Total debt | $3.03B | $3.12B | $3.00B | $3.11B | $3.24B | -2.9% |
| Total liabilities | $5.53B | $5.70B | $5.72B | $5.73B | $5.65B | -2.9% |
| Retained earnings | -$857.60M | -$910.30M | -$897.70M | -$875.30M | -$926.70M | +5.8% |
| Shareholder equity | $2.02B | $1.95B | $1.96B | $1.96B | $1.90B | +3.6% |
| Working capital | $190.10M | $321.70M | $251.30M | $165.70M | $311.60M | -40.9% |
| Net tangible assets | -$671.80M | -$752.00M | -$761.50M | -$762.10M | -$830.70M | +10.7% |
| Shares issued | 234.50M | 234.29M | 231.70M | 231.60M | 231.47M | +0.1% |
| Line item | 2026-06-30 | 2026-03-31 | 2025-12-31 | 2025-09-30 | 2025-06-30 | YoY |
|---|---|---|---|---|---|---|
| Net income | $52.70M | -$12.60M | -$22.40M | $51.40M | $57.30M | +518.3% |
| Depreciation & amortisation | $51.00M | $47.50M | $47.40M | $47.00M | $47.90M | +7.4% |
| Stock-based compensation | $12.70M | $16.30M | $14.10M | $14.00M | $14.10M | -22.1% |
| Change in working capital | -$114.90M | -$291.00M | $52.30M | $132.50M | -$39.80M | +60.5% |
| Operating cash flow | $54.00M | -$243.50M | $257.30M | $235.50M | $9.60M | +122.2% |
| Capital expenditure | -$8.50M | -$12.20M | -$23.00M | -$10.50M | -$9.30M | +30.3% |
| Investing cash flow | -$35.90M | $94.10M | $7.90M | -$60.10M | $10.50M | -138.2% |
| Share buybacks | -$900.00K | -$22.20M | -$300.00K | -$500.00K | -$200.00K | +95.9% |
| Financing cash flow | -$116.10M | -$28.10M | -$117.40M | -$155.50M | -$36.30M | -313.2% |
| Free cash flow | $45.50M | -$255.70M | $234.30M | $225.00M | $300.00K | +117.8% |
| End cash position | $518.70M | $619.50M | $803.50M | $660.80M | $646.00M | -16.3% |
Options analytics
Put / call volume
0.06
Call-heavy session
Put / call open interest
—
Positioning, not flow
Max pain
12.50
+4.7% from spot
ATM implied vol
6.3%
Nearest strike to spot
Skew (10% OTM)
-6.2%
Calls bid over puts
Call volume
69
Contracts, this expiry
Put volume
4
Contracts, this expiry
Heaviest call OI
12.50
0 contracts
Heaviest put OI
12.50
0 contracts
Max pain is the strike at which the largest dollar value of open contracts expires worthless. It describes current positioning; it is not a forecast and it moves as open interest changes.
Put/call ratios, max pain, implied volatility skew and where open interest is concentrated.
Earnings
Reported vs expected · EPS
| Quarter | Est. | Actual | Surprise |
|---|---|---|---|
| Jun 2026 | 0.35 | 0.35 | +0.9% |
| Mar 2026 | 0.13 | 0.15 | +12.6% |
| Dec 2025 | 0.54 | 0.54 | +0.3% |
| Sep 2025 | 0.28 | 0.29 | +4.3% |
Forward consensus
| Period | EPS | Analysts | Revenue | Growth |
|---|---|---|---|---|
| Current quarter | 0.35 | 10 | $2.79B | +7.1% |
| Next quarter | 0.61 | 10 | $3.09B | +6.1% |
| Current year | 1.47 | 11 | $11.18B | +8.7% |
| Next year | 1.72 | 12 | $11.93B | +6.7% |
Analyst targets & ownership
Mean target$17.73
High target$21.00
Low target$15.00
Implied upside48.47%
Analyst count11
ConsensusBUY
Strong buy / Buy4 / 4
Hold4
Sell / Strong sell0 / 0
Held by insiders0.83%
Held by institutions98.23%
Institutions holding418
Price targets, consensus spread, insider and institutional ownership.
Moving averages & technicals
SMA 10
12.00
-0.47% from price
SMA 20
12.36
-3.37% from price
SMA 50
13.32
-10.35% from price
SMA 100
13.23
-9.78% from price
SMA 200
13.80
-13.49% from price
EMA 12
12.13
-1.54% from price
EMA 26
12.55
-4.90% from price
EMA 50
12.94
-7.72% from price
RSI (14)
37.8
Neutral
MACD (12,26,9)
-0.43
Hist -0.01
ATR (14)
0.47
3.94% of price
Realised vol 30D
32.0%
Annualised
Bollinger upper
13.19
20, 2σ
Bollinger lower
11.52
20, 2σ
50 / 200 cross
Death
13.32 vs 13.80
Trend bias
Below 200
-13.49%
Options chain
Calls
| Strike | Last | Bid | Ask | Vol | OI | IV |
|---|---|---|---|---|---|---|
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
Puts
| Strike | Last | Bid | Ask | Vol | OI | IV |
|---|---|---|---|---|---|---|
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
Every listed expiry, both sides of the book, with volume, open interest and implied volatility.
Risk profile
Beta vs SPY
1.51
More volatile than market
Correlation to SPY
0.44
Loosely linked
Realised vol 30D
32.0%
Annualised
Market vol 1Y
13.0%
SPY, annualised
Max drawdown 1Y
-31.7%
Peak to trough
Max drawdown 5Y
-71.8%
Peak to trough
ATR 14
0.47
3.94% of price
Beta (reported)
1.51
5Y monthly, from filing
Short interest
Shares short
16.41M
Prior 14.31M
Change vs prior
+14.6%
Shorts adding
% of float
7.86%
Normal
% of shares out
6.99%
Against total outstanding
Days to cover
9.5
Crowded exit
Float
232.66M
Freely tradeable shares
Exchanges publish short interest twice a month with a settlement lag, so this is roughly two weeks behind. Days to cover divides shares short by average daily volume — it estimates how long covering would take, not whether it will happen.
Rating changes
| Date | Firm | Action | From | To |
|---|---|---|---|---|
| Aug 17, 26 | Barclays | MAINTAINED | Equal-Weight | Equal-Weight |
| Aug 10, 26 | UBS | MAINTAINED | Neutral | Neutral |
| Mar 13, 26 | Barclays | MAINTAINED | Equal-Weight | Equal-Weight |
| Dec 2, 25 | Barclays | INITIATED | — | Equal-Weight |
| Nov 21, 25 | Citigroup | UPGRADE | Neutral | Buy |
| Nov 12, 25 | Citigroup | MAINTAINED | Neutral | Neutral |
| Nov 3, 25 | Citizens | MAINTAINED | Market Outperform | Market Outperform |
| Oct 10, 25 | UBS | MAINTAINED | Neutral | Neutral |
| Aug 26, 25 | JP Morgan | MAINTAINED | Neutral | Neutral |
| Aug 13, 25 | Goldman Sachs | MAINTAINED | Buy | Buy |
| Aug 8, 25 | Goldman Sachs | UPGRADE | Sell | Buy |
| Aug 6, 25 | JMP Securities | MAINTAINED | Market Outperform | Market Outperform |
Dividends & splits
Forward rate—
Forward yield0.00%
5-year avg yield—
Payout ratio0.00%
Ex-dividend date—
Next pay date—
Last split—
Split date—
SEC filings
Corporate Changes & Voting Matters
8-K · 2026-09-15
Corporate Changes & Voting Matters
8-K · 2026-08-05
Corporate Changes & Voting Matters
8-K · 2026-06-15
Corporate Changes & Voting Matters
8-K · 2026-06-04
Corporate Changes & Voting Matters
8-K · 2026-05-15
Corporate Changes & Voting Matters
8-K · 2026-05-14
Periodic Financial Reports
10-Q · 2026-05-07
Corporate Changes & Voting Matters
8-K · 2026-05-04
Headlines
Cushman & Wakefield Receives Credit Rating Upgrade to ‘BB’ from S&P Global Ratings, Outlook Stable
Business Wire · 12h ago
S&P upgrades Cushman & Wakefield to ’BB’ on leverage progress
Investing.com · 15h ago
The Surge in Rates Is Blowing Up Commercial Real-Estate Deals
The Wall Street Journal · 1d ago
Phillips Edison Expands Grocery-Anchored JV With Northwestern
CRE Daily · 2d ago
Should Rising Industrial Build Costs and Activity Require Action From Cushman & Wakefield (CWK) Investors?
Simply Wall St. · 3d ago
Robotaxi Firms Lease Nearly 1M SF of Industrial Space in 2026
CRE Daily · 7d ago
Cushman & Wakefield, 50strong Launch Skilled Trades Mentor Hub for Veterans and Military Spouses
Business Wire · 7d ago
Robotaxi Firms Quietly Growing Real Estate Footprint, Even Where They're Not Yet Legal
Bisnow · 8d ago
PRIVATE STRATEGY · BY QUALIFICATION
The same data. A different seat.
The research you are reading is the input layer for a discretionary options program we run for a small number of qualified investors. Minimum $1,000,000.