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Side-by-side financial comparison of Cushman & Wakefield Ltd. (CWK) and COMFORT SYSTEMS USA INC (FIX). Click either name above to swap in a different company.
Cushman & Wakefield Ltd. is the larger business by last-quarter revenue ($2.9B vs $2.6B, roughly 1.1× COMFORT SYSTEMS USA INC). COMFORT SYSTEMS USA INC runs the higher net margin — 12.5% vs -0.8%, a 13.3% gap on every dollar of revenue. On growth, COMFORT SYSTEMS USA INC posted the faster year-over-year revenue change (41.7% vs 10.8%). COMFORT SYSTEMS USA INC produced more free cash flow last quarter ($402.4M vs $234.3M). Over the past eight quarters, COMFORT SYSTEMS USA INC's revenue compounded faster (31.2% 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.
Comfort Systems USA, Inc. is an American company that provides mechanical and electrical contracting services, primarily HVAC, plumbing, piping and controls, off-site construction, monitoring and fire protection, and installation and servicing of electrical systems.
CWK vs FIX — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $2.9B | $2.6B |
| Net Profit | $-22.4M | $330.8M |
| Gross Margin | — | 25.5% |
| Operating Margin | 6.1% | 16.1% |
| Net Margin | -0.8% | 12.5% |
| Revenue YoY | 10.8% | 41.7% |
| Net Profit YoY | -119.8% | 126.8% |
| EPS (diluted) | $-0.10 | $9.35 |
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 | $2.6B | ||
| Q3 25 | $2.6B | $2.5B | ||
| Q2 25 | $2.5B | $2.2B | ||
| Q1 25 | $2.3B | $1.8B | ||
| Q4 24 | $2.6B | $1.9B | ||
| Q3 24 | $2.3B | $1.8B | ||
| Q2 24 | $2.3B | $1.8B | ||
| Q1 24 | $2.2B | $1.5B |
| Q4 25 | $-22.4M | $330.8M | ||
| Q3 25 | $51.4M | $291.6M | ||
| Q2 25 | $57.3M | $230.8M | ||
| Q1 25 | $1.9M | $169.3M | ||
| Q4 24 | $112.9M | $145.9M | ||
| Q3 24 | $33.7M | $146.2M | ||
| Q2 24 | $13.5M | $134.0M | ||
| Q1 24 | $-28.8M | $96.3M |
| Q4 25 | — | 25.5% | ||
| Q3 25 | — | 24.8% | ||
| Q2 25 | — | 23.5% | ||
| Q1 25 | — | 22.0% | ||
| Q4 24 | — | 23.2% | ||
| Q3 24 | — | 21.1% | ||
| Q2 24 | — | 20.1% | ||
| Q1 24 | — | 19.3% |
| Q4 25 | 6.1% | 16.1% | ||
| Q3 25 | 4.1% | 15.5% | ||
| Q2 25 | 4.9% | 13.8% | ||
| Q1 25 | 2.0% | 11.4% | ||
| Q4 24 | 6.6% | 12.1% | ||
| Q3 24 | 3.2% | 11.2% | ||
| Q2 24 | 3.1% | 10.2% | ||
| Q1 24 | 0.9% | 8.8% |
| Q4 25 | -0.8% | 12.5% | ||
| Q3 25 | 2.0% | 11.9% | ||
| Q2 25 | 2.3% | 10.6% | ||
| Q1 25 | 0.1% | 9.2% | ||
| Q4 24 | 4.3% | 7.8% | ||
| Q3 24 | 1.4% | 8.1% | ||
| Q2 24 | 0.6% | 7.4% | ||
| Q1 24 | -1.3% | 6.3% |
| Q4 25 | $-0.10 | $9.35 | ||
| Q3 25 | $0.22 | $8.25 | ||
| Q2 25 | $0.25 | $6.53 | ||
| Q1 25 | $0.01 | $4.75 | ||
| Q4 24 | $0.49 | $4.08 | ||
| Q3 24 | $0.14 | $4.09 | ||
| Q2 24 | $0.06 | $3.74 | ||
| Q1 24 | $-0.13 | $2.69 |
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 | $981.9M |
| Total DebtLower is stronger | $2.7B | $145.2M |
| Stockholders' EquityBook value | $2.0B | $2.4B |
| Total Assets | $7.7B | $6.4B |
| Debt / EquityLower = less leverage | 1.40× | 0.06× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $784.2M | $981.9M | ||
| Q3 25 | $634.4M | $860.5M | ||
| Q2 25 | $618.2M | $331.7M | ||
| Q1 25 | $623.2M | $204.8M | ||
| Q4 24 | $793.3M | $549.9M | ||
| Q3 24 | $775.4M | $415.6M | ||
| Q2 24 | $567.3M | $199.4M | ||
| Q1 24 | $553.5M | $100.8M |
| Q4 25 | $2.7B | $145.2M | ||
| Q3 25 | $2.8B | $136.0M | ||
| Q2 25 | $3.0B | $73.0M | ||
| Q1 25 | $3.0B | $67.8M | ||
| Q4 24 | $3.0B | $68.3M | ||
| Q3 24 | $3.1B | $62.3M | ||
| Q2 24 | $3.1B | $73.4M | ||
| Q1 24 | $3.2B | $77.0M |
| Q4 25 | $2.0B | $2.4B | ||
| Q3 25 | $2.0B | $2.2B | ||
| Q2 25 | $1.9B | $2.0B | ||
| Q1 25 | $1.8B | $1.8B | ||
| Q4 24 | $1.8B | $1.7B | ||
| Q3 24 | $1.7B | $1.6B | ||
| Q2 24 | $1.6B | $1.5B | ||
| Q1 24 | $1.6B | $1.4B |
| Q4 25 | $7.7B | $6.4B | ||
| Q3 25 | $7.7B | $5.8B | ||
| Q2 25 | $7.6B | $5.1B | ||
| Q1 25 | $7.4B | $4.6B | ||
| Q4 24 | $7.5B | $4.7B | ||
| Q3 24 | $7.5B | $4.4B | ||
| Q2 24 | $7.3B | $4.2B | ||
| Q1 24 | $7.5B | $3.9B |
| Q4 25 | 1.40× | 0.06× | ||
| Q3 25 | 1.45× | 0.06× | ||
| Q2 25 | 1.57× | 0.04× | ||
| Q1 25 | 1.70× | 0.04× | ||
| Q4 24 | 1.73× | 0.04× | ||
| Q3 24 | 1.81× | 0.04× | ||
| Q2 24 | 1.91× | 0.05× | ||
| Q1 24 | 1.96× | 0.06× |
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 | $468.5M |
| Free Cash FlowOCF − Capex | $234.3M | $402.4M |
| FCF MarginFCF / Revenue | 8.0% | 15.2% |
| Capex IntensityCapex / Revenue | 0.8% | 2.5% |
| Cash ConversionOCF / Net Profit | — | 1.42× |
| TTM Free Cash FlowTrailing 4 quarters | $293.0M | $1.0B |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $257.3M | $468.5M | ||
| Q3 25 | $235.5M | $553.3M | ||
| Q2 25 | $9.6M | $252.5M | ||
| Q1 25 | $-162.0M | $-88.0M | ||
| Q4 24 | $115.2M | $210.5M | ||
| Q3 24 | $196.1M | $302.2M | ||
| Q2 24 | $21.8M | $189.9M | ||
| Q1 24 | $-125.1M | $146.6M |
| Q4 25 | $234.3M | $402.4M | ||
| Q3 25 | $225.0M | $517.9M | ||
| Q2 25 | $300.0K | $221.2M | ||
| Q1 25 | $-166.6M | $-110.2M | ||
| Q4 24 | $105.9M | $169.8M | ||
| Q3 24 | $186.7M | $280.1M | ||
| Q2 24 | $10.0M | $166.5M | ||
| Q1 24 | $-135.6M | $121.6M |
| Q4 25 | 8.0% | 15.2% | ||
| Q3 25 | 8.6% | 21.1% | ||
| Q2 25 | 0.0% | 10.2% | ||
| Q1 25 | -7.3% | -6.0% | ||
| Q4 24 | 4.0% | 9.1% | ||
| Q3 24 | 8.0% | 15.5% | ||
| Q2 24 | 0.4% | 9.2% | ||
| Q1 24 | -6.2% | 7.9% |
| Q4 25 | 0.8% | 2.5% | ||
| Q3 25 | 0.4% | 1.4% | ||
| Q2 25 | 0.4% | 1.4% | ||
| Q1 25 | 0.2% | 1.2% | ||
| Q4 24 | 0.4% | 2.2% | ||
| Q3 24 | 0.4% | 1.2% | ||
| Q2 24 | 0.5% | 1.3% | ||
| Q1 24 | 0.5% | 1.6% |
| Q4 25 | — | 1.42× | ||
| Q3 25 | 4.58× | 1.90× | ||
| Q2 25 | 0.17× | 1.09× | ||
| Q1 25 | -85.26× | -0.52× | ||
| Q4 24 | 1.02× | 1.44× | ||
| Q3 24 | 5.82× | 2.07× | ||
| Q2 24 | 1.61× | 1.42× | ||
| 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% |
FIX
| Electrical Segment | $823.7M | 31% |
| Manufacturing Customer | $542.7M | 21% |
| Existing Building Construction | $491.4M | 19% |
| Healthcare Sector Customer | $220.8M | 8% |
| Service Projects | $153.0M | 6% |
| Education | $137.5M | 5% |
| Government Customer | $131.0M | 5% |
| Office Building Customer | $88.2M | 3% |
| Other Customer | $40.7M | 2% |
| Multi Family And Residential | $33.7M | 1% |
