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Side-by-side financial comparison of Cushman & Wakefield Ltd. (CWK) and Equitable Holdings, Inc. (EQH). Click either name above to swap in a different company.
Equitable Holdings, Inc. is the larger business by last-quarter revenue ($3.3B vs $2.9B, roughly 1.1× Cushman & Wakefield Ltd.). Equitable Holdings, Inc. runs the higher net margin — 6.6% vs -0.8%, a 7.3% gap on every dollar of revenue. On growth, Cushman & Wakefield Ltd. posted the faster year-over-year revenue change (10.8% vs -9.5%). Over the past eight quarters, Equitable Holdings, Inc.'s revenue compounded faster (21.2% CAGR vs 15.5%).
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.
Equitable Holdings, Inc. is an American financial services and insurance company that was founded in 1859 by Henry Baldwin Hyde.
CWK vs EQH — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $2.9B | $3.3B |
| Net Profit | $-22.4M | $215.0M |
| Gross Margin | — | — |
| Operating Margin | 6.1% | 10.5% |
| Net Margin | -0.8% | 6.6% |
| Revenue YoY | 10.8% | -9.5% |
| Net Profit YoY | -119.8% | -76.1% |
| EPS (diluted) | $-0.10 | $0.69 |
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 | $2.9B | $3.3B | ||
| Q3 25 | $2.6B | $1.4B | ||
| Q2 25 | $2.5B | $2.4B | ||
| Q1 25 | $2.3B | $4.6B | ||
| Q4 24 | $2.6B | $3.6B | ||
| Q3 24 | $2.3B | $3.1B | ||
| Q2 24 | $2.3B | $3.5B | ||
| Q1 24 | $2.2B | $2.2B |
| Q4 25 | $-22.4M | $215.0M | ||
| Q3 25 | $51.4M | $-1.3B | ||
| Q2 25 | $57.3M | $-349.0M | ||
| Q1 25 | $1.9M | $63.0M | ||
| Q4 24 | $112.9M | $899.0M | ||
| Q3 24 | $33.7M | $-134.0M | ||
| Q2 24 | $13.5M | $428.0M | ||
| Q1 24 | $-28.8M | $114.0M |
| Q4 25 | 6.1% | 10.5% | ||
| Q3 25 | 4.1% | -93.0% | ||
| Q2 25 | 4.9% | -15.4% | ||
| Q1 25 | 2.0% | 3.8% | ||
| Q4 24 | 6.6% | 33.1% | ||
| Q3 24 | 3.2% | -0.5% | ||
| Q2 24 | 3.1% | 19.4% | ||
| Q1 24 | 0.9% | 11.1% |
| Q4 25 | -0.8% | 6.6% | ||
| Q3 25 | 2.0% | -90.3% | ||
| Q2 25 | 2.3% | -14.8% | ||
| Q1 25 | 0.1% | 1.4% | ||
| Q4 24 | 4.3% | 24.8% | ||
| Q3 24 | 1.4% | -4.4% | ||
| Q2 24 | 0.6% | 12.2% | ||
| Q1 24 | -1.3% | 5.1% |
| Q4 25 | $-0.10 | $0.69 | ||
| Q3 25 | $0.22 | $-4.47 | ||
| Q2 25 | $0.25 | $-1.21 | ||
| Q1 25 | $0.01 | $0.16 | ||
| Q4 24 | $0.49 | $2.72 | ||
| Q3 24 | $0.14 | $-0.47 | ||
| Q2 24 | $0.06 | $1.23 | ||
| Q1 24 | $-0.13 | $0.30 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $784.2M | $12.5B |
| Total DebtLower is stronger | $2.7B | — |
| Stockholders' EquityBook value | $2.0B | $-74.0M |
| Total Assets | $7.7B | $318.0B |
| Debt / EquityLower = less leverage | 1.40× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $784.2M | $12.5B | ||
| Q3 25 | $634.4M | $13.6B | ||
| Q2 25 | $618.2M | $15.0B | ||
| Q1 25 | $623.2M | $8.2B | ||
| Q4 24 | $793.3M | $7.0B | ||
| Q3 24 | $775.4M | $9.6B | ||
| Q2 24 | $567.3M | $9.7B | ||
| Q1 24 | $553.5M | $10.4B |
| 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 24 | $3.2B | — |
| Q4 25 | $2.0B | $-74.0M | ||
| Q3 25 | $2.0B | $148.0M | ||
| Q2 25 | $1.9B | $1.1B | ||
| Q1 25 | $1.8B | $2.4B | ||
| Q4 24 | $1.8B | $1.6B | ||
| Q3 24 | $1.7B | $3.2B | ||
| Q2 24 | $1.6B | $1.6B | ||
| Q1 24 | $1.6B | $2.0B |
| Q4 25 | $7.7B | $318.0B | ||
| Q3 25 | $7.7B | $314.4B | ||
| Q2 25 | $7.6B | $303.1B | ||
| Q1 25 | $7.4B | $287.4B | ||
| Q4 24 | $7.5B | $295.9B | ||
| Q3 24 | $7.5B | $299.0B | ||
| Q2 24 | $7.3B | $287.8B | ||
| Q1 24 | $7.5B | $285.6B |
| 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 | $257.3M | $-154.0M |
| Free Cash FlowOCF − Capex | $234.3M | — |
| FCF MarginFCF / Revenue | 8.0% | — |
| Capex IntensityCapex / Revenue | 0.8% | — |
| Cash ConversionOCF / Net Profit | — | -0.72× |
| TTM Free Cash FlowTrailing 4 quarters | $293.0M | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $257.3M | $-154.0M | ||
| Q3 25 | $235.5M | $369.0M | ||
| Q2 25 | $9.6M | $341.0M | ||
| Q1 25 | $-162.0M | $158.0M | ||
| Q4 24 | $115.2M | $400.0M | ||
| Q3 24 | $196.1M | $683.0M | ||
| Q2 24 | $21.8M | $892.0M | ||
| Q1 24 | $-125.1M | $31.0M |
| Q4 25 | $234.3M | — | ||
| Q3 25 | $225.0M | — | ||
| Q2 25 | $300.0K | — | ||
| Q1 25 | $-166.6M | — | ||
| Q4 24 | $105.9M | — | ||
| Q3 24 | $186.7M | — | ||
| Q2 24 | $10.0M | — | ||
| Q1 24 | $-135.6M | — |
| Q4 25 | 8.0% | — | ||
| Q3 25 | 8.6% | — | ||
| Q2 25 | 0.0% | — | ||
| Q1 25 | -7.3% | — | ||
| Q4 24 | 4.0% | — | ||
| Q3 24 | 8.0% | — | ||
| Q2 24 | 0.4% | — | ||
| Q1 24 | -6.2% | — |
| Q4 25 | 0.8% | — | ||
| Q3 25 | 0.4% | — | ||
| Q2 25 | 0.4% | — | ||
| Q1 25 | 0.2% | — | ||
| Q4 24 | 0.4% | — | ||
| Q3 24 | 0.4% | — | ||
| Q2 24 | 0.5% | — | ||
| Q1 24 | 0.5% | — |
| Q4 25 | — | -0.72× | ||
| Q3 25 | 4.58× | — | ||
| Q2 25 | 0.17× | — | ||
| Q1 25 | -85.26× | 2.51× | ||
| Q4 24 | 1.02× | 0.44× | ||
| Q3 24 | 5.82× | — | ||
| Q2 24 | 1.61× | 2.08× | ||
| Q1 24 | — | 0.27× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
CWK
| Equity Method Investment Nonconsolidated Investee Or Group Of Investees | $1.8B | 61% |
| Other | $1.1B | 39% |
EQH
| Other | $1.5B | 46% |
| Asset Management | $1.2B | 37% |
| Wealth Management | $545.0M | 17% |
