Cushman & Wakefield Ltd. reported a revenue of $10.3 billion for the fiscal year ending December 31, 2025, marking a 9% increase from $9.4 billion in 2024. The growth was driven by a 19% rise in capital markets revenue, which reached $857.6 million, and an 8% increase in leasing revenue, totaling $2.1 billion. However, net income fell to $88.2 million, down from $131.3 million in the previous year, primarily due to a one-time impairment loss of $177 million related to the company's investment in the Greystone joint venture. Adjusted EBITDA increased by 13% to $656.2 million, reflecting improved operational performance across service lines.
The company underwent a significant organizational change in November 2025, completing a redomiciliation from the UK to Bermuda, which is not expected to materially affect its operations. Cushman & Wakefield's workforce remained stable at approximately 53,000 employees across 350 offices in nearly 60 countries. The Americas segment generated 73% of total revenue, with the United States alone accounting for 69%. The company continues to focus on expanding its service offerings, particularly in high-demand areas such as data centers and sustainability services.
Operationally, Cushman & Wakefield managed approximately 6.5 billion square feet of commercial real estate globally. The company reported a 4% increase in services revenue, which includes property management and facilities services, despite the impact of divesting a non-core services business in August 2024. The leasing segment showed resilience, with a notable increase in office and industrial leasing activity, while valuation and other services also contributed positively with a 9% revenue increase.
Looking ahead, Cushman & Wakefield anticipates continued growth driven by favorable macroeconomic conditions and increased demand for high-quality commercial real estate services. The company plans to leverage its global platform and invest in advanced technologies to enhance service delivery and client engagement. However, it remains cautious about potential macroeconomic challenges, including inflation and interest rate volatility, which could impact future performance. The company maintains a strong liquidity position with $1.8 billion available, consisting of cash and an undrawn revolving credit facility, positioning it well for upcoming opportunities and challenges.
About Cushman & Wakefield plc
Cushman & Wakefield plc is a global commercial real estate services firm offering property management, leasing, capital markets, valuation, and advisory services. Serving owners and occupiers across diverse asset types and regions, it leverages scale, integrated solutions, and a strong brand to deliver value, sustainability, and strategic advice. The company focuses on long-term client relationships, technological innovation, and operational excellence in a highly competitive industry.
About 10-K Filings
A 10-K form is a comprehensive annual report that public companies in the United States must file with the SEC, providing a detailed overview of the company's financial condition, performance, and business strategies.
Key points about the 10-K:
- Frequency: Filed annually, typically within 60 to 90 days after the end of the company's fiscal year.
-
Content: It includes:
- Detailed financial statements audited by an independent accounting firm
- Management's Discussion and Analysis (MD&A) of financial condition and results
- Description of the company's business, properties, and legal proceedings
- Risk factors and market risks
- Executive compensation and corporate governance information
- Importance: Considered the most comprehensive and important document a public company files with the SEC.
- Length: Often exceeds 100 pages due to its extensive and detailed nature.
Our Methodology
AssetRoom is committed to providing timely summaries of news from public companies. We use AI to generate these summaries quickly, but they are not reviewed by human experts.
Our method:
- Data Collection: We continuously monitor for new filings (currently limited to US-listed stocks).
- AI-Powered Analysis: Our advanced AI system processes each filing, identifying key information and extracting relevant data.
- Summary Generation: The AI creates a concise, easy-to-understand summary of the filing, highlighting the most important points.
- Publication: The summary is immediately published on our platform, allowing users instant access to the latest information.
- Email users: We distribute round-up emails according to our users preferences, keeping them in the loop with the companies they follow.
Feedback & Corrections
Spot an error or have a suggestion? Contact us.