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Side-by-side financial comparison of Bath & Body Works, Inc. (BBWI) and Cushman & Wakefield Ltd. (CWK). Click either name above to swap in a different company.
Cushman & Wakefield Ltd. is the larger business by last-quarter revenue ($2.9B vs $1.6B, roughly 1.8× Bath & Body Works, Inc.). Bath & Body Works, Inc. runs the higher net margin — 4.8% vs -0.8%, a 5.6% gap on every dollar of revenue. On growth, Cushman & Wakefield Ltd. posted the faster year-over-year revenue change (10.8% vs -1.0%). Cushman & Wakefield Ltd. produced more free cash flow last quarter ($234.3M vs $-1.0M). Over the past eight quarters, Cushman & Wakefield Ltd.'s revenue compounded faster (15.5% CAGR vs -26.0%).
Bath & Body Works, Inc. is an American specialty retail company based in Columbus, Ohio. It owns Bath & Body Works, posted $7.4 billion in revenue in 2023, and was listed as 481 on the 2024 Fortune 500 list of largest United States companies by revenue.
Cushman & Wakefield Inc. is an American global commercial real estate and property management services firm. The company's corporate headquarters is located in Chicago, Illinois. It is named after co-founders J. Clydesdale Cushman and Bernard Wakefield.
BBWI vs CWK — Head-to-Head
Income Statement — Q3 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $1.6B | $2.9B |
| Net Profit | $77.0M | $-22.4M |
| Gross Margin | 41.3% | — |
| Operating Margin | 10.1% | 6.1% |
| Net Margin | 4.8% | -0.8% |
| Revenue YoY | -1.0% | 10.8% |
| Net Profit YoY | -27.4% | -119.8% |
| EPS (diluted) | $0.37 | $-0.10 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | $1.6B | $2.9B | ||
| Q3 25 | $1.5B | $2.6B | ||
| Q2 25 | $1.4B | $2.5B | ||
| Q1 25 | $2.8B | $2.3B | ||
| Q4 24 | $1.6B | $2.6B | ||
| Q3 24 | $1.5B | $2.3B | ||
| Q2 24 | $1.4B | $2.3B | ||
| Q1 24 | $2.9B | $2.2B |
| Q4 25 | $77.0M | $-22.4M | ||
| Q3 25 | $64.0M | $51.4M | ||
| Q2 25 | $105.0M | $57.3M | ||
| Q1 25 | $453.0M | $1.9M | ||
| Q4 24 | $106.0M | $112.9M | ||
| Q3 24 | $152.0M | $33.7M | ||
| Q2 24 | $87.0M | $13.5M | ||
| Q1 24 | $579.0M | $-28.8M |
| Q4 25 | 41.3% | — | ||
| Q3 25 | 41.3% | — | ||
| Q2 25 | 45.4% | — | ||
| Q1 25 | 46.7% | — | ||
| Q4 24 | 43.5% | — | ||
| Q3 24 | 41.0% | — | ||
| Q2 24 | 43.8% | — | ||
| Q1 24 | 45.9% | — |
| Q4 25 | 10.1% | 6.1% | ||
| Q3 25 | 10.1% | 4.1% | ||
| Q2 25 | 14.7% | 4.9% | ||
| Q1 25 | 24.3% | 2.0% | ||
| Q4 24 | 13.5% | 6.6% | ||
| Q3 24 | 12.0% | 3.2% | ||
| Q2 24 | 13.5% | 3.1% | ||
| Q1 24 | 23.9% | 0.9% |
| Q4 25 | 4.8% | -0.8% | ||
| Q3 25 | 4.1% | 2.0% | ||
| Q2 25 | 7.4% | 2.3% | ||
| Q1 25 | 16.3% | 0.1% | ||
| Q4 24 | 6.6% | 4.3% | ||
| Q3 24 | 10.0% | 1.4% | ||
| Q2 24 | 6.3% | 0.6% | ||
| Q1 24 | 19.9% | -1.3% |
| Q4 25 | $0.37 | $-0.10 | ||
| Q3 25 | $0.30 | $0.22 | ||
| Q2 25 | $0.49 | $0.25 | ||
| Q1 25 | $2.06 | $0.01 | ||
| Q4 24 | $0.49 | $0.49 | ||
| Q3 24 | $0.68 | $0.14 | ||
| Q2 24 | $0.38 | $0.06 | ||
| Q1 24 | $2.54 | $-0.13 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $236.0M | $784.2M |
| Total DebtLower is stronger | $3.9B | $2.7B |
| Stockholders' EquityBook value | $-1.6B | $2.0B |
| Total Assets | $5.0B | $7.7B |
| Debt / EquityLower = less leverage | — | 1.40× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $236.0M | $784.2M | ||
| Q3 25 | $364.0M | $634.4M | ||
| Q2 25 | $636.0M | $618.2M | ||
| Q1 25 | $674.0M | $623.2M | ||
| Q4 24 | $191.0M | $793.3M | ||
| Q3 24 | $514.0M | $775.4M | ||
| Q2 24 | $855.0M | $567.3M | ||
| Q1 24 | $1.1B | $553.5M |
| Q4 25 | $3.9B | $2.7B | ||
| Q3 25 | $3.9B | $2.8B | ||
| Q2 25 | $3.9B | $3.0B | ||
| Q1 25 | $3.9B | $3.0B | ||
| Q4 24 | $4.2B | $3.0B | ||
| Q3 24 | $4.2B | $3.1B | ||
| Q2 24 | $4.3B | $3.1B | ||
| Q1 24 | $4.4B | $3.2B |
| Q4 25 | $-1.6B | $2.0B | ||
| Q3 25 | $-1.5B | $2.0B | ||
| Q2 25 | $-1.5B | $1.9B | ||
| Q1 25 | $-1.4B | $1.8B | ||
| Q4 24 | $-1.7B | $1.8B | ||
| Q3 24 | $-1.7B | $1.7B | ||
| Q2 24 | $-1.7B | $1.6B | ||
| Q1 24 | $-1.6B | $1.6B |
| Q4 25 | $5.0B | $7.7B | ||
| Q3 25 | $4.8B | $7.7B | ||
| Q2 25 | $4.9B | $7.6B | ||
| Q1 25 | $4.9B | $7.4B | ||
| Q4 24 | $5.0B | $7.5B | ||
| Q3 24 | $4.9B | $7.5B | ||
| Q2 24 | $5.2B | $7.3B | ||
| Q1 24 | $5.5B | $7.5B |
| Q4 25 | — | 1.40× | ||
| Q3 25 | — | 1.45× | ||
| Q2 25 | — | 1.57× | ||
| Q1 25 | — | 1.70× | ||
| Q4 24 | — | 1.73× | ||
| Q3 24 | — | 1.81× | ||
| Q2 24 | — | 1.91× | ||
| Q1 24 | — | 1.96× |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $80.0M | $257.3M |
| Free Cash FlowOCF − Capex | $-1.0M | $234.3M |
| FCF MarginFCF / Revenue | -0.1% | 8.0% |
| Capex IntensityCapex / Revenue | 5.1% | 0.8% |
| Cash ConversionOCF / Net Profit | 1.04× | — |
| TTM Free Cash FlowTrailing 4 quarters | $946.0M | $293.0M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $80.0M | $257.3M | ||
| Q3 25 | $-43.0M | $235.5M | ||
| Q2 25 | $188.0M | $9.6M | ||
| Q1 25 | $955.0M | $-162.0M | ||
| Q4 24 | $-99.0M | $115.2M | ||
| Q3 24 | $-46.0M | $196.1M | ||
| Q2 24 | $76.0M | $21.8M | ||
| Q1 24 | $926.0M | $-125.1M |
| Q4 25 | $-1.0M | $234.3M | ||
| Q3 25 | $-99.0M | $225.0M | ||
| Q2 25 | $151.0M | $300.0K | ||
| Q1 25 | $895.0M | $-166.6M | ||
| Q4 24 | $-164.0M | $105.9M | ||
| Q3 24 | $-101.0M | $186.7M | ||
| Q2 24 | $30.0M | $10.0M | ||
| Q1 24 | $878.0M | $-135.6M |
| Q4 25 | -0.1% | 8.0% | ||
| Q3 25 | -6.4% | 8.6% | ||
| Q2 25 | 10.6% | 0.0% | ||
| Q1 25 | 32.1% | -7.3% | ||
| Q4 24 | -10.2% | 4.0% | ||
| Q3 24 | -6.6% | 8.0% | ||
| Q2 24 | 2.2% | 0.4% | ||
| Q1 24 | 30.2% | -6.2% |
| Q4 25 | 5.1% | 0.8% | ||
| Q3 25 | 3.6% | 0.4% | ||
| Q2 25 | 2.6% | 0.4% | ||
| Q1 25 | 2.2% | 0.2% | ||
| Q4 24 | 4.0% | 0.4% | ||
| Q3 24 | 3.6% | 0.4% | ||
| Q2 24 | 3.3% | 0.5% | ||
| Q1 24 | 1.6% | 0.5% |
| Q4 25 | 1.04× | — | ||
| Q3 25 | -0.67× | 4.58× | ||
| Q2 25 | 1.79× | 0.17× | ||
| Q1 25 | 2.11× | -85.26× | ||
| Q4 24 | -0.93× | 1.02× | ||
| Q3 24 | -0.30× | 5.82× | ||
| Q2 24 | 0.87× | 1.61× | ||
| Q1 24 | 1.60× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
BBWI
| Bath Body Works Stores | $1.2B | 77% |
| Bath Body Works Direct | $299.0M | 19% |
| Bath Body Works International | $73.0M | 5% |
CWK
| Equity Method Investment Nonconsolidated Investee Or Group Of Investees | $1.8B | 61% |
| Other | $1.1B | 39% |
