Cushman & Wakefield plc (CWK) fair value: what the stock is really worth
As of Nov 6, 2026: fair value (intrinsic value) of Cushman & Wakefield plc stock $19.76, price $13.96, upside +41.5%, quality 54 out of 100. Rating: undervalued. Calculated from audited financials with 12 of our 26 valuation models and 37 quality factors, updated daily.
69 individual criteria per stock, every one traceableSee the method →
Price vs Fair Value
White line = price, green steps = our fair value per fiscal year. As of Nov 7, 2026.
How to read this chart
60‑month range $6.51 – $23.12 · fair‑value band $11.52 – $31.25 · the $13.96 price screens below the $19.76 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 7, 2026.
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Cushman & Wakefield Limited is a leading global commercial real estate services firm for property owners and occupiers with approximately 52,000 employees in nearly 400 offices and 60 countries.
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In 2024, the firm reported revenue of 9.4 billion dollars across its core service lines of Services, Leasing, Capital markets, and Valuation and others. The company was founded in 1784 and is headquartered in Chicago, Illinois.
Stock analysis
Cushman & Wakefield plc (CWK) currently trades at $13.96, while our model-based Fair Value estimate is $19.76, implying the stock looks roughly 29% undervalued today.
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Valuation
Bull case: the Multiples group reads highest at a median of $22.60 per share, and 10 of the 12 models we run sit above the $13.96 price.
Bear case: the Economic Profit group reads lowest at $5.78, and 2 of the 12 models stay below the price. Data coverage for this calculation is medium.
Scenario range: $11.52 (bear) to $31.25 (bull), the price of $13.96 sits inside it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 54/100 (solid quality), in the Real Estate sector.
Mixed Growth: Revenue is growing, but margins or cash flow do not fully confirm the trend.
Cushman & Wakefield plc reported revenue of $10.3B in FY2025 versus $9.4B in FY2021, a compound +2.3%/yr. Reported net income was $88.2M in FY2025, compounding −22.9%/yr from FY2021.
Key figures
Market cap $3.3B Mid · P/E ratio 48.1 · P/S ratio 0.30 · EPS (TTM) $0.2900 · Net margin 0.6% · Return on equity 3.4% · Return on assets (EBIT) 5.2% (5-year average) · Operating margin 4.6%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 26 out of 100 (low confidence).
What moves the price
The share trades about 19% below its 52-week high and 26% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Real Estate peers we cover trades at −16% fair-value upside, at 42%, CWK screens cheaper than that median.
Fair Value models
Bear$11.52Fair Value $19.76Bull$31.25
Price $13.96 · Upside +41.5%
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above starts from their evidence-weighted blend, not from a single model. In cyclical trough or peak years, after dilution or a stock split it is adjusted afterwards, so it can sit above or below the models. Based on fiscal year 2025 figures (about 10 months old). Earnings retained since then ($0.2487 per share) are deliberately not added.Bear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds.Coverage ⓘCoverage = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
In the last 6 months, 2 officers or directors sold shares worth $853,626 and none bought.
SaleNathaniel RobinsonOfficer4× since Mar 3, 2026: 57,328 shares, avg. $13.37$766,546Sep 8, 2026
SaleLaurida SayedOfficer16,000 shares at $13.88$222,080Aug 13, 2026
Plus 13 other filings such as grants, option exercises or tax withholding. They are not market purchases or sales.
Sales are often planned (taxes, diversification, 10b5-1 plans). Purchases with their own money are seen as the stronger sign. For information only: not part of the quality score or Fair Value.
Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card.65/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Revenue growth 1 year
+8.9%
Revenue growth 3 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+0.6%
Revenue growth 5 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+5.6%
Start year 2020 (pandemic). Over 10 years: +9.4% a year
Revenue growth 10 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+9.4%
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What shareholders gained per year (last 5 years) ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 5 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate. Basis: EBIT basis.
+5.2%
Earnings growth per share plus dividend.
Earnings per share, growth per year+5.2%
Dividend (yield on the price)0.0%
Profit margin 2019 to 2024 ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.2% → 4%
Growth Forecast
A lot of optimism in the price
The price assumes more growth than the company has delivered so far and more than analysts expect.
What the price assumes ⓘThis turns our valuation around: instead of asking what the share is worth, it asks what growth the current price requires. It uses the cash the company keeps after all spending (free cash flow), the same discount rate as our models, five years of growth, then slowing evenly to 2 % a year by year ten. Compared with the analysts' sales forecasts extended to the same five years (at least three analysts, for context only, it does not enter the Fair Value): within 3 percentage points counts as "in line" (amber), below that little optimism (green), above that a lot of optimism (red).
+10.6%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect ⓘAnalysts publish sales forecasts for the next two fiscal years. For the years after that, growth slows evenly to 2 % a year by year ten (2 % is the long-run rate our models use). Projected years are marked as such.
+6.0%
Yearly sales growth analysts expect, extended to five years.
After inflation (USA: IMF forecast 2.4% a year to 2030, 3.1% from 2016 to 2025) that is about +8.1% a year for the price and +3.6% for the forecasts.
News mood ⓘNews mood, the average tone of recent news (99 articles), rated against how stocks are usually covered. 🚀 Hype = unusually upbeat · 🙂 Positive = above average · 😐 Neutral = typical · 🙁 Negative = below average · 😨 Very negative = unusually downbeat. It reflects the tone of coverage, not our valuation.Hype
Recent news coverage is unusually upbeat, far more positive than stocks are typically covered.
AI conclusion: Expanding recurring revenue from multi-year facilities contracts provides a buffer against cyclical swings, yet the business shows limited durable advantage and thin profitability in a competitive services sector.
Main risk: Fresh softness in leasing and capital markets transaction volumes could offset gains from stable service income and hit revenue stability.
Cushman & Wakefield has cut leverage while expanding recurring revenue from multi-year facilities and project management contracts that cushion cyclical swings in leasing and capital markets. Recent upgrades to BB by S&P and Ba3 by Moody’s confirm the balance-sheet progress amid recovering activity. Our models see it as undervalued, yet will the stable service income keep growing faster than any fresh softness in transaction volumes can offset?
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Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.Real Estate Services · 472 stocks
Beats the industry median on 6/13 measures
A mixed picture versus its industry peers.
Valuation
Quality Score54 · Below median
Fair Value upside+41.5% · Above median
Profitability
Return on equity (12 months)3.4% · Below median
Return on assets1.2% · Below median
Net margin (12 months)0.6% · Bottom 25%
Operating margin (12 months)4.6% · Bottom 25%
Growth and dividend
Revenue growth (quarter YoY)7.7% · Above median
Balance sheet
Debt / equity1.33× · Highest 25%
Valuation Multiplesvs Real Estate Services median · lower = cheaper
P/E (12 months)48.1× · Priciest 25%
P/B1.69× · book value is mostly goodwill ⓘGoodwill and other intangible assets are larger than the equity. The book value mainly reflects prices paid for past acquisitions, so we do not rank this P/B against the peer group.
P/S (12 months)0.30× · Cheapest 25%
Price / free cash flow (fiscal year)11.3× · Cheaper than median
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Is Cushman & Wakefield plc (CWK) overvalued or undervalued?
As of Nov 7, 2026, our model estimates a fair value of $19.76 versus a price of $13.96, about +42% upside (undervalued).
What is the fair value of CWK?
Our model-based fair value for Cushman & Wakefield plc is $19.76 (as of Nov 7, 2026), built from audited fundamentals. The current price: $13.96.
What is the quality score of CWK?
Cushman & Wakefield plc has a Quality Score of 54/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for Cushman & Wakefield plc (CWK)?
Our model-based price target is the fair value of $19.76 (as of Nov 7, 2026) from 12 valuation models. Cautious scenario $11.52, optimistic scenario $31.25. It is a calculation from audited fundamentals, not an analyst target.
What is the Cushman & Wakefield plc stock forecast for 2026?
Our models put fair value at $19.76, about +42% upside versus a price of $13.96 (undervalued). Cautious scenario $11.52, optimistic scenario $31.25. The calculation is refreshed regularly with new filings.
What is the revenue of Cushman & Wakefield plc (CWK)?
Cushman & Wakefield plc reported trailing-twelve-month revenue of about $11.0B (latest available figure, as of Nov 7, 2026).
What growth is priced into Cushman & Wakefield plc (CWK)?
For today's price to be fair in a discounted-cash-flow model, Cushman & Wakefield plc would have to grow free cash flow by +10.6 % per year for five years (discount rate 11.0 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +5.6 % per year. As of Nov 7, 2026.
What discount rate (WACC) does the fair value of CWK use?
Our models discount Cushman & Wakefield plc at 11.0 %: a base by market capitalisation (mid), damped by beta 1.53, country premium for USA. The same rate applies in all 26 models.
What is a reverse DCF?
A reverse DCF turns the usual calculation around. Instead of deriving a value from assumptions, it takes today's price as given and asks: what free-cash-flow growth would a company have to deliver for exactly this price to be fair? The result is not a forecast but the expectation already priced in. For Cushman & Wakefield plc that is +10.6 % per year for five years, then slowing evenly to 2 % by year ten, using the same discount rate (11.0 %) and the same formula as our fair value.
How much growth has Cushman & Wakefield plc (CWK) delivered so far?
Over the past 5 years revenue at Cushman & Wakefield plc grew +5.6 % a year. The price currently implies free-cash-flow growth of +10.6 % per year. Comparing the two shows how much confidence is in the price: if it demands more than has been delivered, the business has to accelerate for the maths to work.
How fast is the sector of Cushman & Wakefield plc (CWK) growing?
The median revenue growth in the sector is +2.7 % a year. That is the yardstick for the growth priced into Cushman & Wakefield plc (+10.6 % per year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of Cushman & Wakefield plc (CWK)?
The free-cash-flow yield on the price is 8.88 %: that much free cash flow Cushman & Wakefield plc produces per unit of market value. When it exceeds the discount rate of our models (11.0 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Cushman & Wakefield plc (CWK)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Cushman & Wakefield plc it is $19.76 per share (as of Nov 7, 2026), against a price of $13.96. It is the blended result of 12 valuation models in 4 families (DCF Models, Multiples, Growth DCF, Economic Profit).
Is Cushman & Wakefield plc stock overvalued or undervalued in 2026?
As of Nov 7, 2026, CWK trades below its calculated fair value: price $13.96, fair value $19.76, a gap of about +42% (undervalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of CWK?
No. The price is what the market pays today ($13.96); the fair value is what the company's own numbers justify ($19.76). For Cushman & Wakefield plc the two are $5.80 per share apart. That gap is exactly why we show both numbers side by side.
How much is Cushman & Wakefield plc worth?
The market values Cushman & Wakefield plc at about $3.3B (market capitalisation, as of Nov 7, 2026). Per share that is $13.96; our models calculate a fair value of $19.76 per share.
What do the bullish and bearish scenarios say about CWK?
Our models span a range for Cushman & Wakefield plc: cautious scenario $11.52, base $19.76, optimistic $31.25 per share (as of Nov 7, 2026, price $13.96). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of CWK?
Cushman & Wakefield plc trades at a price-to-earnings ratio of 48.1 (as of Nov 7, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of $19.76 is built from several models across several years. Median P/E at fiscal year-end, 5 fiscal years (2019 to 2025), reported earnings: 23.2. Other multiples: PEG 0.3, P/B 1.7, P/S 0.3, EV/EBITDA 8.5.
What is the PEG ratio of CWK?
The PEG ratio of Cushman & Wakefield plc is 0.26 (P/E divided by earnings growth, as of Nov 7, 2026). That is below 1, so growth is priced more cheaply than the earnings multiple alone suggests.
How solid is the balance sheet of Cushman & Wakefield plc (CWK)?
Balance-sheet figures for Cushman & Wakefield plc (as of Nov 7, 2026): return on equity 3.4%, debt of 1.33 per unit of equity. They feed the Quality Score of 54/100, which measures business quality independently of the share price.
How far is CWK from its 52-week high?
Cushman & Wakefield plc trades at $13.96, about 19% below its 52-week high of $17.20 and 26% above the low of $11.04 (as of Nov 6, 2026). Distance from the high says nothing about value: that is what the fair value of $19.76 is for.
Which stocks are comparable to Cushman & Wakefield plc?
From the same area (Real Estate) we also value CBRE Group, Cellnex Telecom, S.A, KE Holdings, Swire Properties Limited, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is Cushman & Wakefield plc stock attractive at the current price?
The data as of Nov 7, 2026: price $13.96, calculated fair value $19.76 (+42%), Quality Score 54/100, from 12 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of CWK calculated?
We run Cushman & Wakefield plc through 12 models from 4 families: DCF Models, Multiples, Growth DCF, Economic Profit. Every model gets the same audited fundamentals; the fair value of $19.76 builds on their evidence-weighted average, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 13.3% above its aggregate fair value. Cushman & Wakefield plc currently trades 29% below its own fair value, and the market average says nothing about that. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of Cushman & Wakefield plc (CWK)?
The closing price on Nov 6, 2026 was $13.96. Our model-based fair value is $19.76, about +42% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Cushman & Wakefield plc right now?
The model range is unusually wide ($11.52 to $31.25). The outcome hinges heavily on assumptions, so read the point estimate with caution. Solid quality (54/100) at a price below fair value, the discount is the argument here, not the business quality. As a real-estate business, asset- and dividend-based methods carry more weight here than a standard DCF.
Key figures of Cushman & Wakefield plc
How large is the market capitalisation of Cushman & Wakefield plc (CWK)?
The market capitalisation of Cushman & Wakefield plc is $3.3B. The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of Cushman & Wakefield plc (CWK)?
The price-to-sales ratio of Cushman & Wakefield plc is 0.30 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Cushman & Wakefield plc (CWK)?
Earnings per share at Cushman & Wakefield plc are $0.2900 (price ÷ EPS = P/E 48.1). Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of Cushman & Wakefield plc (CWK)?
The net margin of Cushman & Wakefield plc is 0.6% (last twelve months). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of Cushman & Wakefield plc (CWK)?
The return on equity (ROE) of Cushman & Wakefield plc is 3.4% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of Cushman & Wakefield plc (CWK)?
On an EBIT basis the return on assets of Cushman & Wakefield plc is 5.2% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of Cushman & Wakefield plc (CWK)?
The operating margin of Cushman & Wakefield plc is 4.6% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Cushman & Wakefield plc (CWK)?
Revenue at Cushman & Wakefield plc is growing +7.7% versus a year earlier (3y avg +0.6%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How much net debt does Cushman & Wakefield plc (CWK) carry?
The net debt of Cushman & Wakefield plc is $2.5B (fiscal year 2025, ≈ 8.4 yrs of FCF). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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Some data
Nov 7, 2026