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Side-by-side financial comparison of Cushman & Wakefield Ltd. (CWK) and EPAM Systems (EPAM). Click either name above to swap in a different company.
Cushman & Wakefield Ltd. is the larger business by last-quarter revenue ($2.5B vs $1.4B, roughly 1.8× EPAM Systems). On growth, Cushman & Wakefield Ltd. posted the faster year-over-year revenue change (11.0% vs 7.6%). Over the past eight quarters, EPAM Systems's revenue compounded faster (10.5% CAGR vs 5.3%).
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.
EPAM Systems, Inc. is an American company that specializes in software engineering services, digital platform engineering, and digital product design, operating out of Newtown, Pennsylvania. EPAM is a founding member of the MACH Alliance.
CWK vs EPAM — Head-to-Head
Income Statement — Q1 FY2026 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $2.5B | $1.4B |
| Net Profit | — | $82.5M |
| Gross Margin | — | — |
| Operating Margin | 2.3% | 8.3% |
| Net Margin | — | 5.9% |
| Revenue YoY | 11.0% | 7.6% |
| Net Profit YoY | — | 12.3% |
| EPS (diluted) | $-0.05 | $1.52 |
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.
| Q1 26 | $2.5B | $1.4B | ||
| Q4 25 | $2.9B | $1.4B | ||
| Q3 25 | $2.6B | $1.4B | ||
| Q2 25 | $2.5B | $1.4B | ||
| Q1 25 | $2.3B | $1.3B | ||
| Q4 24 | $2.6B | $1.2B | ||
| Q3 24 | $2.3B | $1.2B | ||
| Q2 24 | $2.3B | $1.1B |
| Q1 26 | — | $82.5M | ||
| Q4 25 | $-22.4M | $109.4M | ||
| Q3 25 | $51.4M | $106.8M | ||
| Q2 25 | $57.3M | $88.0M | ||
| Q1 25 | $1.9M | $73.5M | ||
| Q4 24 | $112.9M | $103.3M | ||
| Q3 24 | $33.7M | $136.3M | ||
| Q2 24 | $13.5M | $98.6M |
| Q1 26 | — | — | ||
| Q4 25 | — | 30.1% | ||
| Q3 25 | — | 29.5% | ||
| Q2 25 | — | 28.8% | ||
| Q1 25 | — | 26.9% | ||
| Q4 24 | — | 30.4% | ||
| Q3 24 | — | 34.6% | ||
| Q2 24 | — | 29.3% |
| Q1 26 | 2.3% | 8.3% | ||
| Q4 25 | 6.1% | 10.6% | ||
| Q3 25 | 4.1% | 10.4% | ||
| Q2 25 | 4.9% | 9.3% | ||
| Q1 25 | 2.0% | 7.6% | ||
| Q4 24 | 6.6% | 10.9% | ||
| Q3 24 | 3.2% | 15.2% | ||
| Q2 24 | 3.1% | 10.5% |
| Q1 26 | — | 5.9% | ||
| Q4 25 | -0.8% | 7.8% | ||
| Q3 25 | 2.0% | 7.7% | ||
| Q2 25 | 2.3% | 6.5% | ||
| Q1 25 | 0.1% | 5.6% | ||
| Q4 24 | 4.3% | 8.3% | ||
| Q3 24 | 1.4% | 11.7% | ||
| Q2 24 | 0.6% | 8.6% |
| Q1 26 | $-0.05 | $1.52 | ||
| Q4 25 | $-0.10 | $1.97 | ||
| Q3 25 | $0.22 | $1.91 | ||
| Q2 25 | $0.25 | $1.56 | ||
| Q1 25 | $0.01 | $1.28 | ||
| Q4 24 | $0.49 | $1.80 | ||
| Q3 24 | $0.14 | $2.37 | ||
| Q2 24 | $0.06 | $1.70 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $600.6M | $1.0B |
| Total DebtLower is stronger | — | $165.0M |
| Stockholders' EquityBook value | $2.0B | $3.4B |
| Total Assets | $7.6B | $4.7B |
| Debt / EquityLower = less leverage | — | 0.05× |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $600.6M | $1.0B | ||
| Q4 25 | $784.2M | $1.3B | ||
| Q3 25 | $634.4M | $1.2B | ||
| Q2 25 | $618.2M | $1.0B | ||
| Q1 25 | $623.2M | $1.2B | ||
| Q4 24 | $793.3M | $1.3B | ||
| Q3 24 | $775.4M | $2.1B | ||
| Q2 24 | $567.3M | $1.8B |
| Q1 26 | — | $165.0M | ||
| Q4 25 | $2.7B | — | ||
| Q3 25 | $2.8B | — | ||
| Q2 25 | $3.0B | — | ||
| Q1 25 | $3.0B | — | ||
| Q4 24 | $3.0B | — | ||
| Q3 24 | $3.1B | — | ||
| Q2 24 | $3.1B | — |
| Q1 26 | $2.0B | $3.4B | ||
| Q4 25 | $2.0B | $3.7B | ||
| Q3 25 | $2.0B | $3.7B | ||
| Q2 25 | $1.9B | $3.7B | ||
| Q1 25 | $1.8B | $3.6B | ||
| Q4 24 | $1.8B | $3.6B | ||
| Q3 24 | $1.7B | $3.6B | ||
| Q2 24 | $1.6B | $3.4B |
| Q1 26 | $7.6B | $4.7B | ||
| Q4 25 | $7.7B | $4.9B | ||
| Q3 25 | $7.7B | $4.8B | ||
| Q2 25 | $7.6B | $4.7B | ||
| Q1 25 | $7.4B | $4.7B | ||
| Q4 24 | $7.5B | $4.8B | ||
| Q3 24 | $7.5B | $4.5B | ||
| Q2 24 | $7.3B | $4.2B |
| Q1 26 | — | 0.05× | ||
| 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× | — |
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 | $-243.5M | — |
| Free Cash FlowOCF − Capex | $-255.7M | — |
| FCF MarginFCF / Revenue | -10.1% | — |
| Capex IntensityCapex / Revenue | — | — |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $203.9M | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $-243.5M | — | ||
| Q4 25 | $257.3M | $282.9M | ||
| Q3 25 | $235.5M | $294.7M | ||
| Q2 25 | $9.6M | $53.2M | ||
| Q1 25 | $-162.0M | $24.2M | ||
| Q4 24 | $115.2M | $130.3M | ||
| Q3 24 | $196.1M | $242.0M | ||
| Q2 24 | $21.8M | $57.0M |
| Q1 26 | $-255.7M | — | ||
| Q4 25 | $234.3M | $268.1M | ||
| Q3 25 | $225.0M | $286.4M | ||
| Q2 25 | $300.0K | $43.4M | ||
| Q1 25 | $-166.6M | $14.8M | ||
| Q4 24 | $105.9M | $114.5M | ||
| Q3 24 | $186.7M | $237.0M | ||
| Q2 24 | $10.0M | $52.3M |
| Q1 26 | -10.1% | — | ||
| Q4 25 | 8.0% | 19.0% | ||
| Q3 25 | 8.6% | 20.5% | ||
| Q2 25 | 0.0% | 3.2% | ||
| Q1 25 | -7.3% | 1.1% | ||
| Q4 24 | 4.0% | 9.2% | ||
| Q3 24 | 8.0% | 20.3% | ||
| Q2 24 | 0.4% | 4.6% |
| Q1 26 | — | — | ||
| Q4 25 | 0.8% | 1.1% | ||
| Q3 25 | 0.4% | 0.6% | ||
| Q2 25 | 0.4% | 0.7% | ||
| Q1 25 | 0.2% | 0.7% | ||
| Q4 24 | 0.4% | 1.3% | ||
| Q3 24 | 0.4% | 0.4% | ||
| Q2 24 | 0.5% | 0.4% |
| Q1 26 | — | — | ||
| Q4 25 | — | 2.59× | ||
| Q3 25 | 4.58× | 2.76× | ||
| Q2 25 | 0.17× | 0.60× | ||
| Q1 25 | -85.26× | 0.33× | ||
| Q4 24 | 1.02× | 1.26× | ||
| Q3 24 | 5.82× | 1.77× | ||
| Q2 24 | 1.61× | 0.58× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
CWK
| Services | $1.7B | 69% |
| Leasing | $497.7M | 20% |
| Capital markets | $181.6M | 7% |
| Valuation and other | $113.8M | 4% |
EPAM
Segment breakdown not available.
