Cushman & Wakefield(NYSE) CWK

Cushman & Wakefield helps people buy, sell, and manage office buildings. It solves problems for people who own or rent business spaces. The company operates in nearly 60 countries around the world.

How the Company Serves Clients

• Services: Providing facilities management, project development, and portfolio administration for property occupiers; generated $1.7 billion in revenue in the first quarter of 2026.
• Leasing: Representing property owners and tenants in finding and renting commercial spaces; accounted for $497.7 million in revenue in the first quarter of 2026.
• Capital Markets: Offering advice on investment sales and financing for real estate transactions; brought in $181.6 million in revenue in the first quarter of 2026.
• Valuation and Other: Performing appraisals and financial reporting for debt and equity investors; reached $113.8 million in revenue in the first quarter of 2026.

Expanding Through Strategic Partnerships

• Formed a strategic partnership with Vanke Service (Hong Kong) Co., Limited to expand global service offerings.
• Managed a 40% interest in the Greystone JV to provide multifamily property loan products.
• Utilized a 35% interest in the Onewo JV to deliver subcontracted facilities management services in the Asia Pacific region.
• Amended a revolving accounts receivable securitization program in March 2026 to increase the maximum facility limit by $50 million.

A Global Professional Network

Cushman & Wakefield maintains a network of approximately 53,000 employees across 350 offices to solve complex real estate problems. The company organizes its global operations into three regions: the Americas, Asia Pacific, and Europe, Middle East and Africa.

A Look at Recent Performance

• Revenue reached $2.5 billion in the first quarter of 2026, up 11% year-over-year.
• Operating income hit $58.7 million in the first quarter of 2026, up 29.6% from the previous year.
• Net income fell to a loss of $12.6 million in the first quarter of 2026, worsened from a $1.9 million profit in 2025.
• Free cash flow was negative $255.7 million in the first quarter of 2026, worsened 53.5% from the same period in 2025.

Evolution of the Business

Cushman & Wakefield has evolved from a historical real estate firm into a modern, global service provider. Its mix of recurring service revenue and transaction-based leasing supports market relevance across different economic cycles.