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Cushman & Wakefield
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Latest analysis
Updated Aug 5, 2026
Cushman & Wakefield raises FY2026 EPS guidance to 18-23% on record Q2 leasing and data center momentum.
Cushman & Wakefield delivered its highest second-quarter revenue in company history at $2.8B (+11%), driven by 27% global leasing growth and data center-related revenue up 83% year-to-date. Management raised full-year adjusted EPS guidance from 15-20% to 18-23%, reflecting six consecutive quarters of double-digit EPS growth and confidence in organic expansion across project management (+20%), integrated facilities management, and advisory services. The company reduced net leverage to 3x (from 3.7x year-ago), paid down $650M in cumulative debt since 2024, and now projects entering the mid-2s leverage range by year-end, positioning for investment-grade credentials and renewed optionality for M&A, organic investment, or shareholder returns.
Tone: bullishRevenue
$10.3B
CWK 10-K · FY 2025
Employees
53,000
Revenue growth YoY
+9%
Founded
1917
Profile
CWK 10-K Item 1 · Feb 19, 2026Cushman & Wakefield is a leading global commercial real estate services firm providing services to occupiers and investors across nearly 60 countries. The company operates four service lines — Services, Leasing, Capital markets, and Valuation and other — through three geographic segments: Americas, EMEA, and APAC. Its Services segment, which is largely recurring and contractual, accounts for 66% of total revenue.
Read filing description ↓ Collapse description ↑
Cushman & Wakefield Ltd. (together with its subsidiaries, 'Cushman & Wakefield,' 'the Company,' 'we,' 'ours' and 'us') is a leading global commercial real estate services firm driven to solve complex problems for real estate occupiers and investors. Led by an experienced executive team, our approximately 53,000 employees in over 350 offices and nearly 60 countries provide exceptional problem-solving, advisory and execution across the built environment, and manage approximately 6.5 billion square feet of commercial real estate globally. Our business is focused on meeting the increasing demands of our clients through comprehensive global offerings including (i) Services, (ii) Leasing, (iii) Capital markets and (iv) Valuation and other services. In 2025, 2024 and 2023, we generated revenues of $10.3 billion, $9.4 billion and $9.5 billion, respectively. Since 2014, we have built a company with the scale and global footprint to effectively serve our multinational and local clients' needs. Today, Cushman & Wakefield is one of the top three real estate services providers as measured by revenue and workforce. We have an integrated and scalable platform that we believe is well positioned to support our growth strategy by focusing on providing effective problem solving through quality advice and execution, continuing to operate with rigor, investing in advanced technologies and innovative practices, and recruiting, developing and retaining top talent.
Primary products
- Services (property management, facilities management, facilities services, project management)
- Leasing (owner representation, tenant representation)
- Capital markets (buy/sell representation, equity/debt/structured financing)
- Valuation and other (appraisal management, investment management, valuation advisory, portfolio advisory, diligence advisory, dispute analysis, litigation support, financial reporting)
Business segments
End markets
Geographies
Named competitors
“While we are one of the three largest global commercial real estate services firms, as measured by revenue and workforce, our relative competitive position varies by geography and service line.” Competitive position, as stated in the filing
Revenue commentary · FY 2025
Revenue of $10.3 billion for the year ended December 31, 2025 increased 9% from the year ended December 31, 2024, with growth across all four service lines.
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