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Side-by-side financial comparison of Cushman & Wakefield Ltd. (CWK) and Expeditors International (EXPD). Click either name above to swap in a different company.
Cushman & Wakefield Ltd. is the larger business by last-quarter revenue ($2.9B vs $2.9B, roughly 1.0× Expeditors International). Expeditors International runs the higher net margin — 7.0% vs -0.8%, a 7.8% gap on every dollar of revenue. On growth, Cushman & Wakefield Ltd. posted the faster year-over-year revenue change (10.8% vs -3.3%). Expeditors International produced more free cash flow last quarter ($270.3M vs $234.3M). Over the past eight quarters, Cushman & Wakefield Ltd.'s revenue compounded faster (15.5% CAGR vs 13.8%).
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.
Expeditors International of Washington, Inc. is an American Fortune 500 service-based logistics company with headquarters in Bellevue, Washington. Expeditors generates highly optimized and customized supply chain solutions for clients with unified technology systems integrated through a global network of over 340+ locations in 100+ countries on six continents.
CWK vs EXPD — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $2.9B | $2.9B |
| Net Profit | $-22.4M | $200.7M |
| Gross Margin | — | — |
| Operating Margin | 6.1% | 8.8% |
| Net Margin | -0.8% | 7.0% |
| Revenue YoY | 10.8% | -3.3% |
| Net Profit YoY | -119.8% | -14.9% |
| EPS (diluted) | $-0.10 | $1.50 |
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 | $2.9B | ||
| Q3 25 | $2.6B | $2.9B | ||
| Q2 25 | $2.5B | $2.7B | ||
| Q1 25 | $2.3B | $2.7B | ||
| Q4 24 | $2.6B | $3.0B | ||
| Q3 24 | $2.3B | $3.0B | ||
| Q2 24 | $2.3B | $2.4B | ||
| Q1 24 | $2.2B | $2.2B |
| Q4 25 | $-22.4M | $200.7M | ||
| Q3 25 | $51.4M | $222.3M | ||
| Q2 25 | $57.3M | $183.6M | ||
| Q1 25 | $1.9M | $203.8M | ||
| Q4 24 | $112.9M | $235.9M | ||
| Q3 24 | $33.7M | $229.6M | ||
| Q2 24 | $13.5M | $175.5M | ||
| Q1 24 | $-28.8M | $169.2M |
| Q4 25 | 6.1% | 8.8% | ||
| Q3 25 | 4.1% | 10.0% | ||
| Q2 25 | 4.9% | 9.3% | ||
| Q1 25 | 2.0% | 10.0% | ||
| Q4 24 | 6.6% | 10.2% | ||
| Q3 24 | 3.2% | 10.1% | ||
| Q2 24 | 3.1% | 9.2% | ||
| Q1 24 | 0.9% | 9.7% |
| Q4 25 | -0.8% | 7.0% | ||
| Q3 25 | 2.0% | 7.7% | ||
| Q2 25 | 2.3% | 6.9% | ||
| Q1 25 | 0.1% | 7.6% | ||
| Q4 24 | 4.3% | 8.0% | ||
| Q3 24 | 1.4% | 7.7% | ||
| Q2 24 | 0.6% | 7.2% | ||
| Q1 24 | -1.3% | 7.7% |
| Q4 25 | $-0.10 | $1.50 | ||
| Q3 25 | $0.22 | $1.64 | ||
| Q2 25 | $0.25 | $1.34 | ||
| Q1 25 | $0.01 | $1.47 | ||
| Q4 24 | $0.49 | $1.68 | ||
| Q3 24 | $0.14 | $1.63 | ||
| Q2 24 | $0.06 | $1.24 | ||
| Q1 24 | $-0.13 | $1.17 |
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 | $1.3B |
| Total DebtLower is stronger | $2.7B | — |
| Stockholders' EquityBook value | $2.0B | $2.4B |
| Total Assets | $7.7B | $4.9B |
| Debt / EquityLower = less leverage | 1.40× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $784.2M | $1.3B | ||
| Q3 25 | $634.4M | $1.2B | ||
| Q2 25 | $618.2M | $1.2B | ||
| Q1 25 | $623.2M | $1.3B | ||
| Q4 24 | $793.3M | $1.1B | ||
| Q3 24 | $775.4M | $1.3B | ||
| Q2 24 | $567.3M | $1.3B | ||
| Q1 24 | $553.5M | $1.4B |
| 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 | $2.4B | ||
| Q3 25 | $2.0B | $2.3B | ||
| Q2 25 | $1.9B | $2.2B | ||
| Q1 25 | $1.8B | $2.3B | ||
| Q4 24 | $1.8B | $2.2B | ||
| Q3 24 | $1.7B | $2.4B | ||
| Q2 24 | $1.6B | $2.2B | ||
| Q1 24 | $1.6B | $2.2B |
| Q4 25 | $7.7B | $4.9B | ||
| Q3 25 | $7.7B | $4.8B | ||
| Q2 25 | $7.6B | $4.8B | ||
| Q1 25 | $7.4B | $4.8B | ||
| Q4 24 | $7.5B | $4.8B | ||
| Q3 24 | $7.5B | $5.2B | ||
| Q2 24 | $7.3B | $4.8B | ||
| Q1 24 | $7.5B | $4.5B |
| 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 | $257.3M | $283.3M |
| Free Cash FlowOCF − Capex | $234.3M | $270.3M |
| FCF MarginFCF / Revenue | 8.0% | 9.5% |
| Capex IntensityCapex / Revenue | 0.8% | 0.5% |
| Cash ConversionOCF / Net Profit | — | 1.41× |
| TTM Free Cash FlowTrailing 4 quarters | $293.0M | $953.4M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $257.3M | $283.3M | ||
| Q3 25 | $235.5M | $201.4M | ||
| Q2 25 | $9.6M | $179.2M | ||
| Q1 25 | $-162.0M | $342.6M | ||
| Q4 24 | $115.2M | $249.7M | ||
| Q3 24 | $196.1M | $90.0M | ||
| Q2 24 | $21.8M | $126.8M | ||
| Q1 24 | $-125.1M | $256.9M |
| Q4 25 | $234.3M | $270.3M | ||
| Q3 25 | $225.0M | $190.3M | ||
| Q2 25 | $300.0K | $163.3M | ||
| Q1 25 | $-166.6M | $329.5M | ||
| Q4 24 | $105.9M | $239.7M | ||
| Q3 24 | $186.7M | $77.7M | ||
| Q2 24 | $10.0M | $118.8M | ||
| Q1 24 | $-135.6M | $246.7M |
| Q4 25 | 8.0% | 9.5% | ||
| Q3 25 | 8.6% | 6.6% | ||
| Q2 25 | 0.0% | 6.2% | ||
| Q1 25 | -7.3% | 12.4% | ||
| Q4 24 | 4.0% | 8.1% | ||
| Q3 24 | 8.0% | 2.6% | ||
| Q2 24 | 0.4% | 4.9% | ||
| Q1 24 | -6.2% | 11.2% |
| Q4 25 | 0.8% | 0.5% | ||
| Q3 25 | 0.4% | 0.4% | ||
| Q2 25 | 0.4% | 0.6% | ||
| Q1 25 | 0.2% | 0.5% | ||
| Q4 24 | 0.4% | 0.3% | ||
| Q3 24 | 0.4% | 0.4% | ||
| Q2 24 | 0.5% | 0.3% | ||
| Q1 24 | 0.5% | 0.5% |
| Q4 25 | — | 1.41× | ||
| Q3 25 | 4.58× | 0.91× | ||
| Q2 25 | 0.17× | 0.98× | ||
| Q1 25 | -85.26× | 1.68× | ||
| Q4 24 | 1.02× | 1.06× | ||
| Q3 24 | 5.82× | 0.39× | ||
| Q2 24 | 1.61× | 0.72× | ||
| Q1 24 | — | 1.52× |
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% |
EXPD
| Customs Brokerage And Other Services | $1.1B | 40% |
| Airfreight Services | $1.1B | 39% |
| Ocean Freight And Ocean Services | $611.4M | 21% |
