Cushman & Wakefield Ltd. (CWK) intrinsic value & 10-year financials
Cushman & Wakefield Ltd. (CWK) has no Graham intrinsic value right now because the formula needs positive earnings. Over the last 10 fiscal years revenue grew 5.8% a year to $10.3B, with an average return on invested capital of -1.2%.
- Graham intrinsic value
- —
- Share price (Oct 17, 2026)
- $11.30
- Market cap
- $2.7B
- Revenue (FY2025)
- $10.3B
- Revenue growth (10-yr CAGR)
- 5.8%
- ROIC (10-yr avg)
- -1.2%
- Free cash flow (FY2025)
- $293.0M
CWK 10-year financial history
| Fiscal year | Revenue | Net income | EPS (diluted) | Free cash flow | Operating margin | ROIC |
|---|---|---|---|---|---|---|
| FY2025 | $10.3B | $88.2M | $0.38 | $293.0M | 4.4% | 8.8% |
| FY2024 | $9.4B | $131.3M | $0.56 | $167.0M | 3.6% | 6.2% |
| FY2023 | $9.5B | -$35.4M | -$0.16 | $101.2M | 2.2% | 4.9% |
| FY2022 | $10.1B | $196.4M | $0.86 | -$1.6M | 5.3% | 7.6% |
| FY2021 | $9.4B | $250.0M | $1.10 | $495.7M | 5.3% | 10.1% |
| FY2020 | $7.8B | -$220.5M | -$1.00 | -$79.2M | -0.7% | -1.6% |
| FY2019 | $8.8B | $200.0K | $0.00 | $189.0M | 2.1% | 3.0% |
| FY2018 | $8.2B | -$185.8M | -$1.09 | -$86.4M | 0.2% | 0.4% |
| FY2017 | $6.9B | -$221.3M | -$1.54 | -$124.7M | -2.5% | -3.8% |
| FY2016 | $6.2B | -$434.2M | — | -$412.4M | -4.8% | -47.8% |
Source: annual 10-K filings on SEC EDGAR. Figures in USD.
Executive summary
Cushman & Wakefield Ltd. has demonstrated mature, steady growth, with revenue compounding at 5.8% annually over the past decade.
Cushman & Wakefield Ltd. has historically struggled to out-earn its cost of capital, averaging just 3.9% ROIC.
Cushman & Wakefield Ltd. capital allocation metrics are N/A for the decade; share count and net debt history are incomplete.
Benjamin Graham lens
Under Benjamin Graham's formula using SEC EDGAR fundamentals, Cushman & Wakefield Ltd. is modeled at -23.3% normalized earnings growth with a 5.1% bond-yield adjustment. The resulting Graham intrinsic value estimate is $-12.51 per share.