Cushman & Wakefield
Market Cap
US$3.9b
Last Updated
2019/10/20 00:44 UTC
Data Sources
Company Financials +
Executive Summary
Cushman & Wakefield plc provides commercial real estate services under the Cushman & Wakefield brand in the Americas, the Asia Pacific, Europe, the Middle East, and Africa.
Snowflake
Fundamentals
Imperfect balance sheet and overvalued.
Similar Companies
Share Price & News
How has Cushman & Wakefield's share price performed over time and what events caused price changes?
Latest Share Price and Events
Market Performance
7 Day Return
2.9%
CWK
2.1%
US Real Estate
0.4%
US Market
1 Year Return
13.6%
CWK
6.8%
US Real Estate
6.9%
US Market
Return vs Industry: CWK exceeded the US Real Estate industry which returned 6.8% over the past year.
Return vs Market: CWK exceeded the US Market which returned 6.9% over the past year.
Shareholder returns
| CWK | Industry | Market | |
|---|---|---|---|
| 7 Day | 2.9% | 2.1% | 0.4% |
| 30 Day | -3.0% | -0.5% | -1.1% |
| 90 Day | -2.9% | 0.3% | -0.5% |
| 1 Year | 13.6%13.6% | 7.9%6.8% | 9.3%6.9% |
| 3 Year | n/a | 30.6%27.0% | 45.8%36.4% |
| 5 Year | n/a | 12.1%7.8% | 62.9%45.1% |
Price Volatility Vs. Market
How volatile is Cushman & Wakefield's share price compared to the market and industry in the last 5 years?
Simply Wall St News
3 weeks ago | Simply Wall St
Cushman & Wakefield (NYSE:CWK) Has A Somewhat Strained Balance Sheet1 month ago | Simply Wall St
Some Cushman & Wakefield (NYSE:CWK) Shareholders Are Down 11%2 months ago | Simply Wall St
Calculating The Fair Value Of Cushman & Wakefield plc (NYSE:CWK)Valuation
Is Cushman & Wakefield undervalued compared to its fair value and its price relative to the market?
15.2%
Undervalued compared to fair value
Share Price vs. Fair Value
Undervalued: CWK ($18.16) is trading below our estimate of fair value ($21.41)
Significantly Undervalued: CWK is trading below fair value, but not by a significant amount.
Price To Earnings Ratio
PE vs Industry: CWK is unprofitable, so we can't compare its PE Ratio to the Real Estate industry average.
PE vs Market: CWK is unprofitable, so we can't compare its PE Ratio to the US market.
Price to Earnings Growth Ratio
Low PEG Ratio: Insufficient data to calculate CWK's PEG Ratio to determine if it is good value.
Price to Book Ratio
PB vs Industry: CWK is overvalued based on its PB Ratio (3.1x) compared to the US Real Estate industry average (1.5x).
Next Steps
Future Growth
How is Cushman & Wakefield forecast to perform in the next 1 to 3 years based on estimates from 6 analysts?
57.9%
Forecasted annual earnings growth
Earnings and Revenue Growth Forecasts
Analyst Future Growth Forecasts
Earnings vs Savings Rate: CWK is forecast to remain unprofitable over the next 3 years.
Earnings vs Market: CWK is forecast to remain unprofitable over the next 3 years.
High Growth Earnings: CWK is forecast to remain unprofitable over the next 3 years.
Revenue vs Market: CWK's revenue (5.7% per year) is forecast to grow slower than the US market (7.2% per year).
High Growth Revenue: CWK's revenue (5.7% per year) is forecast to grow slower than 20% per year.
Earnings per Share Growth Forecasts
Future Return on Equity
High Future ROE: CWK's Return on Equity is forecast to be high in 3 years time (25.2%)
Next Steps
Past Performance
How has Cushman & Wakefield performed over the past 5 years?
52.5%
Historical annual earnings growth
Earnings and Revenue History
Past Earnings Growth Analysis
Earnings Trend: CWK is unprofitable, but has reduced losses over the past 5 years at a rate of 52.5% per year.
Accelerating Growth: Unable to compare CWK's earnings growth over the past year to its 5-year average as it is currently unprofitable
Earnings vs Industry: CWK is unprofitable, making it difficult to compare its past year earnings growth to the Real Estate industry (-20%).
Return on Equity
High ROE: CWK has a negative Return on Equity (-5.75%), as it is currently unprofitable.
Return on Assets
ROA vs Industry: CWK is currently unprofitable, so its Return on Assets is negative.
Return on Capital Employed
ROCE Improving: CWK is currently unprofitable, so its Return on Capital Employed is negative.
Next Steps
Financial Health
How is Cushman & Wakefield's financial position?
Financial Position Analysis
Short Term Liabilities: CWK's short term assets ($2.3B) exceeds its short term liabilities ($1.9B)
Long Term Liabilities: CWK's short term assets (2.3B) do not cover its long term liabilities (3.5B)
Debt to Equity History and Analysis
Debt Level: CWK's debt to equity ratio (213.4%) is considered high
Reducing Debt: Insufficient data to determine if CWK's debt to equity ratio has reduced over the past 5 years.
Balance Sheet
Inventory Level: CWK has a low level of unsold assets or inventory.
Debt Coverage by Assets: CWK's debt is not covered by short term assets (assets are 0.8x debt).
Cash Runway Analysis
For companies that have on average been loss making in the past we assess whether they have at least 1 year of cash runway.
Stable Cash Runway: CWK has sufficient cash runway for more than 3 years based on its current free cash flow.
Forecast Cash Runway: Insufficient data to determine if CWK has enough cash runway if its free cash flow continues to grow or shrink based on historical rates.
Next Steps
Dividend
What is Cushman & Wakefield's current dividend yield, its reliability and sustainability?
Dividend Yield vs Market
Current dividend yield vs market & industry
Stability and Growth of Payments
Notable Dividend: Unable to evaluate CWK's dividend yield against the bottom 25% of dividend payers, as the company has not reported any payouts.
High Dividend: Unable to evaluate CWK's dividend yield against the top 25% of dividend payers, as the company has not reported any payouts.
Stable Dividend: Insufficient data to determine if CWK's dividends per share have been stable in the past.
Growing Dividend: Insufficient data to determine if CWK's dividend payments have been increasing.
Current Payout to Shareholders
Dividend Coverage: Insufficient data to calculate payout ratio to determine if its dividend payments are covered by earnings.
Future Payout to Shareholders
Future Dividend Coverage: No need to calculate the sustainability of CWK's dividend in 3 years as they are not forecast to pay a notable one for the US market.
Next Steps
Management
What is the CEO of Cushman & Wakefield's salary, the management and board of directors tenure and is there insider trading?
2.8yrs
Average management tenure
CEO
Brett White (59yo)
4.8yrs
Tenure
US$49,239,960
Compensation
Mr. Brett White serves as Executive Chairman and Chief Executive Officer at DTZ Jersey Holdings Limited and he also serves as its Director. Mr. White served as President of DTZ Jersey Holdings Limited. He ...
CEO Compensation Analysis
Compensation vs. Market: Insufficient data to establish whether Brett's total compensation is reasonable compared to companies of similar size in the US market.
Compensation vs Earnings: Brett's compensation has increased whilst the company is unprofitable.
Management Age and Tenure
2.8yrs
Average Tenure
54yo
Average Age
Experienced Management: CWK's management team is considered experienced (2.8 years average tenure).
Board Age and Tenure
1.8yrs
Average Tenure
54yo
Average Age
Experienced Board: CWK's board of directors are not considered experienced ( 1.8 years average tenure), which suggests a new board.
Insider Trading
Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.
Recent Insider Transactions
| Entity | Individual |
| Shares | 13,575 |
| Max Price | US$17.08 |
| Entity | Company |
| Shares | 233,682 |
| Max Price | US$17.08 |
| Entity | Company |
| Shares | 1,909,557 |
| Max Price | US$17.08 |
| Entity | Company |
| Shares | 14,499,822 |
| Max Price | US$17.08 |
| Entity | Company |
| Shares | 26,080 |
| Max Price | US$17.08 |
| Entity | Company |
| Shares | 1,762,266 |
| Max Price | US$17.08 |
| Entity | Company |
| Shares | 0 |
| Max Price | US$17.08 |
| Entity | Company |
| Shares | 74,660 |
| Max Price | US$17.08 |
| Entity | Company |
| Shares | 200,000 |
| Max Price | US$17.08 |
| Entity | Individual |
| Shares | 103,645 |
| Max Price | US$17.08 |
Ownership Breakdown
Management Team
Duncan Palmer (54yo)
Executive VP & CFO
- Tenure: 5.8yrs
- Compensation: US$5.69m
John Forrester (56yo)
Executive VP & Global President
- Tenure: 1.8yrs
- Compensation: US$7.80m
Nate Robinson
Executive VP of Strategic Planning & Chief Investment Officer
- Tenure: 1.8yrs
Matthew Bouw
Chief Executive Officer of Asia Pacific
- Tenure: 0yrs
- Compensation: US$806.70k
Adam Stanley
Chief Information Officer & Chief Digital Officer
- Tenure: 0yrs
Brett Soloway (50yo)
Executive VP
- Tenure: 5.8yrs
- Compensation: US$1.82m
Brad Kreiger
Chief Marketing & Communications Officer
- Tenure: 1.8yrs
Michelle Hay (50yo)
Executive VP & Chief Human Resources Officer
- Tenure: 2.8yrs
- Compensation: US$1.59m
Brett White (59yo)
Executive Chairman & CEO
- Tenure: 4.8yrs
- Compensation: US$49.24m
Bill Knightly
Executive VP of Investor Relations & Treasurer
- Tenure: 0yrs
Board Members
Rich McGinn (73yo)
Independent Director
- Tenure: 0.3yrs
Jonathan Coslet (55yo)
Independent Director
- Tenure: 1.8yrs
Jodie McLean (50yo)
Independent Director
- Tenure: 1yrs
- Compensation: US$110.44k
Tim Dattels (55yo)
Lead Director
- Tenure: 0yrs
Lincoln Pan (42yo)
Independent Director
- Tenure: 2.8yrs
Michelle MacKay (53yo)
Independent Director
- Tenure: 0.9yrs
- Compensation: US$91.51k
Billie Williamson (67yo)
Independent Director
- Tenure: 1.8yrs
- Compensation: US$182.92k
Raju Ruparelia (43yo)
Independent Director
- Tenure: 5.8yrs
Elaine Qi (42yo)
Independent Director
- Tenure: 5.8yrs
Brett White (59yo)
Executive Chairman & CEO
- Tenure: 4.8yrs
- Compensation: US$49.24m
Company Information
Cushman & Wakefield plc's company bio, employee growth, exchange listings and data sources
Key Information
- Name: Cushman & Wakefield plc
- Ticker: CWK
- Exchange: NYSE
- Founded: 1784
- Industry: Real Estate Services
- Sector: Real Estate
- Market Cap: US$3.941b
- Shares outstanding: 217.02m
- Website: https://www.cushmanwakefield.com
Number of Employees
Location
- Cushman & Wakefield plc
- 225 West Wacker Drive
- Suite 3000
- Chicago
- Illinois
- 60606
- United States
Listings
| Ticker | Exchange | Primary Security | Security Type | Country | Currency | Listed on |
|---|---|---|---|---|---|---|
| CWK | NYSE (New York Stock Exchange) | Yes | New Ordinary shares | US | USD | Aug 2018 |
Biography
Cushman & Wakefield plc provides commercial real estate services under the Cushman & Wakefield brand in the Americas, the Asia Pacific, Europe, the Middle East, and Africa. It offers integrated facilities ...
Company Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2019/10/20 00:44 |
| End of Day Share Price | 2019/10/18 00:00 |
| Earnings | 2019/06/30 |
| Annual Earnings | 2018/12/31 |
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.