Cushman & Wakefield plc

NYSE:CWK Stock Report

Market Cap: US$3.1b

Cushman & Wakefield Valuation

Is CWK undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

3/6

Valuation Score 3/6

  • Below Fair Value

  • Significantly Below Fair Value

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Analyst Forecast

Share Price vs Fair Value

What is the Fair Price of CWK when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: CWK ($13.38) is trading below our estimate of fair value ($17.92)

Significantly Below Fair Value: CWK is trading below fair value by more than 20%.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for CWK?

Key metric: As CWK is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for CWK. This is calculated by dividing CWK's market cap by their current earnings.
What is CWK's PE Ratio?
PE Ratio34.8x
EarningsUS$88.20m
Market CapUS$3.07b

Price to Earnings Ratio vs Peers

How does CWK's PE Ratio compare to its peers?

The above table shows the PE ratio for CWK vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average69.4x
NMRK Newmark Group
42.7x31.6%US$3.2b
JLL Jones Lang LaSalle
25.4x18.0%US$12.1b
BEKE KE Holdings
39.1x21.0%US$22.3b
CSGP CoStar Group
170.5x42.2%US$29.9b
CWK Cushman & Wakefield
34.8x26.8%US$3.1b

Price-To-Earnings vs Peers: CWK is good value based on its Price-To-Earnings Ratio (34.8x) compared to the peer average (69.4x).

Price to Earnings Ratio vs Industry

How does CWK's PE Ratio compare vs other companies in the US Real Estate Industry?

8 CompaniesPrice / EarningsEstimated GrowthMarket Cap
FPH Five Point Holdings
4.9xn/aUS$536.40m
STHO Star Holdings
1.5xn/aUS$125.47m
STSR Strategic Student & Senior Housing Trust
2.5xn/aUS$41.31m
XIN Xinyuan Real Estate
0.3xn/aUS$13.53m
CWK 34.8xIndustry Avg. 27.4xNo. of Companies8PE020406080100+
8 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: CWK is expensive based on its Price-To-Earnings Ratio (34.8x) compared to the US Real Estate industry average (27.3x).

Price to Earnings Ratio vs Fair Ratio

What is CWK's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

CWK PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio34.8x
Fair PE Ratio28.8x

Price-To-Earnings vs Fair Ratio: CWK is expensive based on its Price-To-Earnings Ratio (34.8x) compared to the estimated Fair Price-To-Earnings Ratio (28.8x).

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

The above table shows the analyst CWK forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentUS$13.38
US$15.56
+16.3%
12.4%US$18.00US$11.50n/a8
Dec ’25US$15.30
US$14.93
-2.4%
13.7%US$18.00US$11.50n/a7
Nov ’25US$13.03
US$14.50
+11.3%
11.2%US$17.00US$11.50n/a7
Oct ’25US$13.41
US$14.43
+7.6%
12.2%US$17.00US$11.00n/a7
Sep ’25US$13.00
US$14.00
+7.7%
15.3%US$17.00US$11.00n/a7
Aug ’25US$12.70
US$13.57
+6.9%
16.2%US$17.00US$11.00n/a7
Jul ’25US$10.08
US$12.86
+27.6%
15.2%US$17.00US$11.00n/a7
Jun ’25US$11.11
US$12.71
+14.4%
16.1%US$17.00US$11.00n/a7
May ’25US$9.61
US$12.43
+29.3%
18.0%US$17.00US$10.50n/a7
Apr ’25US$10.24
US$12.14
+18.6%
20.7%US$17.00US$9.00n/a7
Mar ’25US$9.94
US$12.00
+20.7%
21.7%US$17.00US$9.00n/a7
Feb ’25US$10.58
US$11.86
+12.1%
21.7%US$17.00US$9.00n/a7
Jan ’25US$10.80
US$11.14
+3.2%
23.6%US$17.00US$8.50n/a7
Dec ’24US$8.58
US$11.00
+28.2%
25.6%US$17.00US$8.50US$15.306
Nov ’24US$7.50
US$11.67
+55.6%
20.7%US$17.00US$10.00US$13.036
Oct ’24US$7.62
US$13.50
+77.2%
26.5%US$19.00US$10.50US$13.416
Sep ’24US$9.32
US$13.00
+39.5%
27.2%US$19.00US$10.00US$13.007
Aug ’24US$10.24
US$12.71
+24.2%
29.9%US$19.00US$8.50US$12.707
Jul ’24US$8.18
US$13.86
+69.4%
37.4%US$21.00US$8.50US$10.087
Jun ’24US$8.03
US$13.56
+68.9%
38.2%US$21.00US$8.50US$11.118
May ’24US$9.80
US$15.38
+56.9%
28.3%US$23.00US$10.00US$9.618
Apr ’24US$10.54
US$17.06
+61.9%
20.1%US$23.00US$11.00US$10.248
Mar ’24US$12.68
US$17.59
+38.8%
16.6%US$23.00US$14.25US$9.948
Feb ’24US$14.19
US$18.81
+32.5%
22.5%US$28.00US$14.25US$10.589
Jan ’24US$12.46
US$18.56
+48.9%
26.8%US$28.00US$12.00US$10.809
Dec ’23US$11.85
US$18.44
+55.6%
27.5%US$28.00US$12.00US$8.589

Analyst Forecast: Target price is less than 20% higher than the current share price.

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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2024/12/24 05:30
End of Day Share Price 2024/12/24 00:00
Earnings2024/09/30
Annual Earnings2023/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on .

Analyst Sources

Cushman & Wakefield plc is covered by 16 analysts. 8 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Michael FunkBofA Global Research
Nicholas JosephCitigroup Inc
Nicholas JosephCitigroup Inc