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Side-by-side financial comparison of Cushman & Wakefield Ltd. (CWK) and Garmin (GRMN). Click either name above to swap in a different company.
Cushman & Wakefield Ltd. is the larger business by last-quarter revenue ($2.9B vs $2.1B, roughly 1.4× Garmin). Garmin runs the higher net margin — 24.9% vs -0.8%, a 25.6% gap on every dollar of revenue. On growth, Garmin posted the faster year-over-year revenue change (16.6% vs 10.8%). Garmin produced more free cash flow last quarter ($429.6M vs $234.3M). Over the past eight quarters, Garmin's revenue compounded faster (24.0% 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.
Garmin Ltd. is an American multinational technology company based in Olathe, Kansas. The company designs, develops, manufactures, markets, and distributes GPS-enabled products and other navigation, communication, sensor-based, and information products to the automotive, aviation, marine, outdoors, and sport markets.
CWK vs GRMN — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $2.9B | $2.1B |
| Net Profit | $-22.4M | $528.7M |
| Gross Margin | — | 59.2% |
| Operating Margin | 6.1% | 28.9% |
| Net Margin | -0.8% | 24.9% |
| Revenue YoY | 10.8% | 16.6% |
| Net Profit YoY | -119.8% | 21.3% |
| EPS (diluted) | $-0.10 | $2.72 |
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 | $2.1B | ||
| Q3 25 | $2.6B | $1.8B | ||
| Q2 25 | $2.5B | $1.8B | ||
| Q1 25 | $2.3B | $1.5B | ||
| Q4 24 | $2.6B | $1.8B | ||
| Q3 24 | $2.3B | $1.6B | ||
| Q2 24 | $2.3B | $1.5B | ||
| Q1 24 | $2.2B | $1.4B |
| Q4 25 | $-22.4M | $528.7M | ||
| Q3 25 | $51.4M | $401.6M | ||
| Q2 25 | $57.3M | $400.8M | ||
| Q1 25 | $1.9M | $332.8M | ||
| Q4 24 | $112.9M | $435.7M | ||
| Q3 24 | $33.7M | $399.1M | ||
| Q2 24 | $13.5M | $300.6M | ||
| Q1 24 | $-28.8M | $276.0M |
| Q4 25 | — | 59.2% | ||
| Q3 25 | — | 59.1% | ||
| Q2 25 | — | 58.8% | ||
| Q1 25 | — | 57.6% | ||
| Q4 24 | — | 59.3% | ||
| Q3 24 | — | 60.0% | ||
| Q2 24 | — | 57.3% | ||
| Q1 24 | — | 58.1% |
| Q4 25 | 6.1% | 28.9% | ||
| Q3 25 | 4.1% | 25.8% | ||
| Q2 25 | 4.9% | 26.0% | ||
| Q1 25 | 2.0% | 21.7% | ||
| Q4 24 | 6.6% | 28.3% | ||
| Q3 24 | 3.2% | 27.6% | ||
| Q2 24 | 3.1% | 22.7% | ||
| Q1 24 | 0.9% | 21.6% |
| Q4 25 | -0.8% | 24.9% | ||
| Q3 25 | 2.0% | 22.7% | ||
| Q2 25 | 2.3% | 22.1% | ||
| Q1 25 | 0.1% | 21.7% | ||
| Q4 24 | 4.3% | 23.9% | ||
| Q3 24 | 1.4% | 25.2% | ||
| Q2 24 | 0.6% | 20.0% | ||
| Q1 24 | -1.3% | 20.0% |
| Q4 25 | $-0.10 | $2.72 | ||
| Q3 25 | $0.22 | $2.08 | ||
| Q2 25 | $0.25 | $2.07 | ||
| Q1 25 | $0.01 | $1.72 | ||
| Q4 24 | $0.49 | $2.24 | ||
| Q3 24 | $0.14 | $2.07 | ||
| Q2 24 | $0.06 | $1.56 | ||
| Q1 24 | $-0.13 | $1.43 |
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 | $2.3B |
| Total DebtLower is stronger | $2.7B | — |
| Stockholders' EquityBook value | $2.0B | $9.0B |
| Total Assets | $7.7B | $11.0B |
| Debt / EquityLower = less leverage | 1.40× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $784.2M | $2.3B | ||
| Q3 25 | $634.4M | $2.1B | ||
| Q2 25 | $618.2M | $2.1B | ||
| Q1 25 | $623.2M | $2.2B | ||
| Q4 24 | $793.3M | $2.1B | ||
| Q3 24 | $775.4M | $2.0B | ||
| Q2 24 | $567.3M | $1.9B | ||
| Q1 24 | $553.5M | $1.9B |
| 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 | $9.0B | ||
| Q3 25 | $2.0B | $8.5B | ||
| Q2 25 | $1.9B | $8.1B | ||
| Q1 25 | $1.8B | $8.2B | ||
| Q4 24 | $1.8B | $7.8B | ||
| Q3 24 | $1.7B | $7.5B | ||
| Q2 24 | $1.6B | $7.0B | ||
| Q1 24 | $1.6B | $7.2B |
| Q4 25 | $7.7B | $11.0B | ||
| Q3 25 | $7.7B | $10.5B | ||
| Q2 25 | $7.6B | $10.3B | ||
| Q1 25 | $7.4B | $9.8B | ||
| Q4 24 | $7.5B | $9.6B | ||
| Q3 24 | $7.5B | $9.3B | ||
| Q2 24 | $7.3B | $8.9B | ||
| Q1 24 | $7.5B | $8.6B |
| 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 | $553.8M |
| Free Cash FlowOCF − Capex | $234.3M | $429.6M |
| FCF MarginFCF / Revenue | 8.0% | 20.2% |
| Capex IntensityCapex / Revenue | 0.8% | 5.8% |
| Cash ConversionOCF / Net Profit | — | 1.05× |
| TTM Free Cash FlowTrailing 4 quarters | $293.0M | $1.4B |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $257.3M | $553.8M | ||
| Q3 25 | $235.5M | $485.6M | ||
| Q2 25 | $9.6M | $173.2M | ||
| Q1 25 | $-162.0M | $420.8M | ||
| Q4 24 | $115.2M | $483.9M | ||
| Q3 24 | $196.1M | $258.0M | ||
| Q2 24 | $21.8M | $255.3M | ||
| Q1 24 | $-125.1M | $435.3M |
| Q4 25 | $234.3M | $429.6M | ||
| Q3 25 | $225.0M | $425.1M | ||
| Q2 25 | $300.0K | $127.5M | ||
| Q1 25 | $-166.6M | $380.7M | ||
| Q4 24 | $105.9M | $399.2M | ||
| Q3 24 | $186.7M | $219.4M | ||
| Q2 24 | $10.0M | $218.2M | ||
| Q1 24 | $-135.6M | $402.1M |
| Q4 25 | 8.0% | 20.2% | ||
| Q3 25 | 8.6% | 24.0% | ||
| Q2 25 | 0.0% | 7.0% | ||
| Q1 25 | -7.3% | 24.8% | ||
| Q4 24 | 4.0% | 21.9% | ||
| Q3 24 | 8.0% | 13.8% | ||
| Q2 24 | 0.4% | 14.5% | ||
| Q1 24 | -6.2% | 29.1% |
| Q4 25 | 0.8% | 5.8% | ||
| Q3 25 | 0.4% | 3.4% | ||
| Q2 25 | 0.4% | 2.5% | ||
| Q1 25 | 0.2% | 2.6% | ||
| Q4 24 | 0.4% | 4.6% | ||
| Q3 24 | 0.4% | 2.4% | ||
| Q2 24 | 0.5% | 2.5% | ||
| Q1 24 | 0.5% | 2.4% |
| Q4 25 | — | 1.05× | ||
| Q3 25 | 4.58× | 1.21× | ||
| Q2 25 | 0.17× | 0.43× | ||
| Q1 25 | -85.26× | 1.26× | ||
| Q4 24 | 1.02× | 1.11× | ||
| Q3 24 | 5.82× | 0.65× | ||
| Q2 24 | 1.61× | 0.85× | ||
| Q1 24 | — | 1.58× |
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% |
GRMN
| Fitness Segment | $765.8M | 36% |
| Outdoor Segment | $627.6M | 30% |
| Marine Segment | $296.9M | 14% |
| Aviation Segment | $274.2M | 13% |
| Auto Oem Segment | $160.4M | 8% |
