Cushman & Wakefield plc (CWK) quarterly income statement — complete revenue, gross profit & net income history
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 | Q2'23 | Q1'23 | Q4'22 | Q3'22 | Q2'22 | Q1'22 | Q4'21 | Q3'21 | Q2'21 |
|---|
| Sales/Revenue | 2.54B | 2.91B | 2.61B | 2.48B | 2.28B | 2.63B | 2.34B | 2.29B | 2.18B | 2.55B | 2.29B | 2.41B | 2.25B | 2.65B | 2.52B | 2.61B | 2.33B | 2.88B | 2.33B | 2.25B |
| Revenue Growth % | 11% | 10.81% | 11.16% | 8.56% | 4.57% | 3.02% | 2.55% | -4.9% | -2.87% | -3.57% | -9.11% | -7.91% | -3.5% | -8.21% | 7.81% | 16.2% | 21.17% | 26.86% | 20.78% | 28.95% |
| Cost of Goods Sold | 2.17B | 2.39B | 2.18B | 2.04B | 1.9B | 2.1B | 1.91B | 1.87B | 1.83B | 2.07B | 1.88B | 1.98B | 1.91B | 2.16B | 2.05B | 2.08B | 1.86B | 2.23B | 1.85B | 1.78B |
| COGS % of Revenue | 85.41% | 82.03% | 83.57% | 82.24% | 83.18% | 79.9% | 81.55% | 81.94% | 83.88% | 81.25% | 82.33% | 82.22% | 84.81% | 81.7% | 81.62% | 79.52% | 79.82% | 77.2% | 79.31% | 79.28% |
| Gross Profit | 370.1M | 523.5M | 428.1M | 441.1M | 384.3M | 528.4M | 432.4M | 413.2M | 352.3M | 478.6M | 403.9M | 427.9M | 341.7M | 484.4M | 462.2M | 535.1M | 470.5M | 657.4M | 482.7M | 465.9M |
| Gross Margin % | 14.59% | 17.97% | 16.43% | 17.76% | 16.82% | 20.1% | 18.45% | 18.06% | 16.13% | 18.75% | 17.67% | 17.78% | 15.19% | 18.3% | 18.38% | 20.48% | 20.18% | 22.8% | 20.69% | 20.72% |
| Gross Profit Growth % | -3.69% | -0.93% | -0.99% | 6.75% | 9.08% | 10.41% | 7.06% | -3.44% | 3.1% | -1.2% | -12.61% | -20.03% | -27.38% | -26.32% | -4.25% | 14.85% | 40.74% | 39.84% | 45.39% | 60.82% |
| Operating Expenses | 311.4M | 346.6M | 320.6M | 318.3M | 339M | 353.9M | 357.2M | 342.8M | 333.5M | 368.6M | 346.3M | 371.6M | 360M | 373.3M | 350.1M | 358.5M | 335.2M | 408M | 352.4M | 341.4M |
| OpEx % of Revenue | 12.28% | 11.9% | 12.3% | 12.81% | 14.84% | 13.46% | 15.24% | 14.98% | 15.26% | 14.44% | 15.15% | 15.44% | 16% | 14.1% | 13.92% | 13.72% | 14.38% | 14.15% | 15.11% | 15.18% |
| Selling, General & Admin | 0 | 372.1M | 320.6M | 318.3M | 305.8M | 312.9M | 314.2M | 294.2M | 296M | 276.4M | 300.9M | 328.9M | 315.9M | 335.4M | 315.6M | 317.5M | 293.4M | 359.2M | 302.5M | 284.2M |
| SG&A % of Revenue | - | 12.77% | 12.3% | 12.81% | 13.39% | 11.9% | 13.4% | 12.86% | 13.55% | 10.83% | 13.16% | 13.67% | 14.04% | 12.67% | 12.55% | 12.15% | 12.59% | 12.46% | 12.97% | 12.64% |
| Research & Development | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| R&D % of Revenue | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Other Operating Expenses | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Operating Income | 58.7M | 176.9M | 107.5M | 122.1M | 45.3M | 174.5M | 75.2M | 70.4M | 18.8M | 110M | 57.6M | 56.3M | -18.3M | 111.1M | 112.1M | 176.6M | 135.3M | 249.4M | 130.3M | 124.5M |
| Operating Margin % | 2.31% | 6.07% | 4.13% | 4.92% | 1.98% | 6.64% | 3.21% | 3.08% | 0.86% | 4.31% | 2.52% | 2.34% | -0.81% | 4.2% | 4.46% | 6.76% | 5.8% | 8.65% | 5.59% | 5.54% |
| Operating Income Growth % | 29.58% | 1.38% | 42.95% | 73.44% | 140.96% | 58.64% | 30.56% | 25.04% | 202.73% | -0.99% | -48.62% | -68.12% | -113.53% | -55.45% | -13.97% | 41.85% | 1979.17% | 161.15% | 43533.33% | 298.25% |
| EBITDA | 84M | 202.4M | 133.3M | 148.3M | 72M | 204.1M | 104.1M | 101.6M | 73.3M | 146.8M | 116.9M | 115.8M | 43.3M | 143.8M | 169.2M | 241M | 201M | 320.1M | 199.3M | 191M |
| EBITDA Margin % | 3.31% | 6.95% | 5.12% | 5.97% | 3.15% | 7.76% | 4.44% | 4.44% | 3.36% | 5.75% | 5.11% | 4.81% | 1.93% | 5.43% | 6.73% | 9.22% | 8.62% | 11.1% | 8.54% | 8.5% |
| EBITDA Growth % | 16.67% | -0.83% | 28.05% | 45.96% | -1.77% | 39.03% | -10.95% | -12.26% | 69.28% | 2.09% | -30.91% | -51.95% | -78.46% | -55.08% | -15.1% | 26.18% | 219.55% | 116.87% | 112.47% | 379.9% |
| D&A (Non-Cash Add-back) | 25.3M | 25.5M | 25.8M | 26.2M | 26.7M | 29.6M | 28.9M | 31.2M | 54.5M | 36.8M | 59.3M | 59.5M | 61.6M | 32.7M | 57.1M | 64.4M | 65.7M | 70.7M | 69M | 66.5M |
| EBIT | 39.6M | 42.6M | 101.1M | 122.1M | 51.8M | 185.9M | 89.3M | 87.8M | 32.2M | 133.4M | 66.8M | 63.3M | -12.4M | 116.3M | 100.5M | 169.1M | 119.3M | 254.4M | 137.4M | 139.7M |
| Net Interest Income | 132.4M | 233.7M | -56M | -53.2M | -52.3M | -55.5M | -54.9M | -60.8M | -58.7M | -56.9M | -89.5M | -57.9M | -76.8M | -53.4M | -50.4M | -46.1M | -43.2M | -47.5M | -45.8M | -43.8M |
| Interest Income | 181.6M | 288.4M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Interest Expense | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Other Income/Expense | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Pretax Income | -9.6M | -12.1M | 45.1M | 76.2M | 5M | 132.1M | 53M | 17.2M | -26.5M | 70.1M | -17.3M | 6.4M | -89.2M | 88.8M | 50.1M | 123M | 76.1M | 197.6M | 91.6M | 95.9M |
| Pretax Margin % | -0.38% | -0.42% | 1.73% | 3.07% | 0.22% | 5.02% | 2.26% | 0.75% | -1.21% | 2.75% | -0.76% | 0.27% | -3.97% | 3.35% | 1.99% | 4.71% | 3.26% | 6.85% | 3.93% | 4.27% |
| Income Tax | 3M | 10.3M | -6.3M | 18.9M | 3.1M | 19.2M | 19.3M | 3.7M | 2.3M | 300K | 16.6M | 1.3M | -12.8M | 59M | 26.2M | 25.8M | 30.6M | 51.8M | 22.9M | 43.2M |
| Effective Tax Rate % | -31.25% | -85.12% | -13.97% | 24.8% | 62% | 14.53% | 36.42% | 21.51% | -8.68% | 0.43% | -95.95% | 20.31% | 14.35% | 66.44% | 52.3% | 20.98% | 40.21% | 26.21% | 25% | 45.05% |
| Net Income | -12.6M | -22.4M | 51.4M | 57.3M | 1.9M | 112.9M | 33.7M | 13.5M | -28.8M | 69.8M | -33.9M | 5.1M | -76.4M | 29.8M | 23.9M | 97.2M | 45.5M | 145.8M | 68.7M | 52.7M |
| Net Margin % | -0.5% | -0.77% | 1.97% | 2.31% | 0.08% | 4.29% | 1.44% | 0.59% | -1.32% | 2.73% | -1.48% | 0.21% | -3.4% | 1.13% | 0.95% | 3.72% | 1.95% | 5.06% | 2.94% | 2.34% |
| Net Income Growth % | -763.16% | -119.84% | 52.52% | 324.44% | 106.6% | 61.75% | 199.41% | 164.71% | 62.3% | 134.23% | -241.84% | -94.75% | -267.91% | -79.56% | -65.21% | 84.44% | 364.53% | 634.07% | 284.18% | 152.28% |
| Net Income (Continuing) | -12.6M | -22.4M | 51.4M | 57.3M | 1.9M | 112.9M | 33.7M | 13.5M | -28.8M | 69.8M | -33.9M | 5.1M | -76.4M | 29.8M | 23.9M | 97.2M | 45.5M | 145.8M | 68.7M | 52.7M |
| Discontinued Operations | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 400K | 500K | 500K | 600K | 500K | 500K | 600K | 600K | 600K | 600K | 500K | 600K | 500K | 800K | 700K | 800K | 800K | 800K | 800K | 900K |
| EPS (Diluted) | -0.05 | -0.10 | 0.22 | 0.25 | 0.01 | 0.48 | 0.14 | 0.06 | -0.13 | 0.30 | -0.15 | 0.02 | -0.34 | 0.13 | 0.11 | 0.43 | 0.20 | 0.64 | 0.30 | 0.23 |
| EPS Growth % | - | -120.46% | 57.14% | 328.82% | 106.31% | 60% | 193.33% | 159.11% | 61.76% | 130.77% | -236.36% | -94.77% | -270% | -79.69% | -63.33% | 86.96% | 358.4% | 633.33% | 276.47% | 150% |
| EPS (Basic) | -0.05 | -0.10 | 0.22 | 0.25 | 0.01 | 0.49 | 0.15 | 0.06 | -0.13 | 0.31 | -0.15 | 0.02 | -0.34 | 0.13 | 0.11 | 0.43 | 0.20 | 0.65 | 0.31 | 0.24 |
| Diluted Shares Outstanding | 235.5M | 237M | 235.9M | 232.4M | 232.3M | 234.6M | 233.4M | 231.5M | 227.9M | 228.9M | 227.2M | 227.1M | 226.2M | 226.5M | 227.5M | 228M | 229.1M | 228.7M | 227M | 226.3M |
| Basic Shares Outstanding | 232.8M | 231.6M | 231.5M | 231.4M | 230.4M | 229.5M | 229.3M | 229M | 227.9M | 227.2M | 227.2M | 227.1M | 226.2M | 225.8M | 225.7M | 225.6M | 224.7M | 223.5M | 223.3M | 223M |
| Dividend Payout Ratio | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |