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Side-by-side financial comparison of Cushman & Wakefield Ltd. (CWK) and Hyatt Hotels Corp (H). Click either name above to swap in a different company.
Cushman & Wakefield Ltd. is the larger business by last-quarter revenue ($2.9B vs $1.8B, roughly 1.6× Hyatt Hotels Corp). Cushman & Wakefield Ltd. runs the higher net margin — -0.8% vs -1.1%, a 0.3% gap on every dollar of revenue. On growth, Hyatt Hotels Corp posted the faster year-over-year revenue change (11.7% vs 10.8%). Hyatt Hotels Corp produced more free cash flow last quarter ($236.0M vs $234.3M). Over the past eight quarters, Cushman & Wakefield Ltd.'s revenue compounded faster (15.5% CAGR vs 2.2%).
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.
Hyatt Hotels Corporation, commonly known as Hyatt Hotels & Resorts, is an American multinational hospitality company headquartered in the Riverside Plaza area of Chicago that manages and franchises luxury and business hotels, resorts, and vacation properties. Hyatt Hotels & Resorts is one of the businesses managed by the Pritzker family. Hyatt has more than 1350 hotels and all-inclusive properties in 69 countries, across North America, South America, Europe, Asia, Africa and Australia.
CWK vs H — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $2.9B | $1.8B |
| Net Profit | $-22.4M | $-20.0M |
| Gross Margin | — | — |
| Operating Margin | 6.1% | 0.4% |
| Net Margin | -0.8% | -1.1% |
| Revenue YoY | 10.8% | 11.7% |
| Net Profit YoY | -119.8% | 64.3% |
| EPS (diluted) | $-0.10 | $-0.20 |
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 | $1.8B | ||
| Q3 25 | $2.6B | $1.8B | ||
| Q2 25 | $2.5B | $1.8B | ||
| Q1 25 | $2.3B | $1.7B | ||
| Q4 24 | $2.6B | $1.6B | ||
| Q3 24 | $2.3B | $1.6B | ||
| Q2 24 | $2.3B | $1.7B | ||
| Q1 24 | $2.2B | $1.7B |
| Q4 25 | $-22.4M | $-20.0M | ||
| Q3 25 | $51.4M | $-49.0M | ||
| Q2 25 | $57.3M | $-3.0M | ||
| Q1 25 | $1.9M | $20.0M | ||
| Q4 24 | $112.9M | $-56.0M | ||
| Q3 24 | $33.7M | $471.0M | ||
| Q2 24 | $13.5M | $359.0M | ||
| Q1 24 | $-28.8M | $522.0M |
| Q4 25 | 6.1% | 0.4% | ||
| Q3 25 | 4.1% | -1.0% | ||
| Q2 25 | 4.9% | 2.1% | ||
| Q1 25 | 2.0% | 3.0% | ||
| Q4 24 | 6.6% | -3.0% | ||
| Q3 24 | 3.2% | 37.3% | ||
| Q2 24 | 3.1% | 27.1% | ||
| Q1 24 | 0.9% | 31.6% |
| Q4 25 | -0.8% | -1.1% | ||
| Q3 25 | 2.0% | -2.7% | ||
| Q2 25 | 2.3% | -0.2% | ||
| Q1 25 | 0.1% | 1.2% | ||
| Q4 24 | 4.3% | -3.5% | ||
| Q3 24 | 1.4% | 28.9% | ||
| Q2 24 | 0.6% | 21.1% | ||
| Q1 24 | -1.3% | 30.5% |
| Q4 25 | $-0.10 | $-0.20 | ||
| Q3 25 | $0.22 | $-0.51 | ||
| Q2 25 | $0.25 | $-0.03 | ||
| Q1 25 | $0.01 | $0.19 | ||
| Q4 24 | $0.49 | $-0.37 | ||
| Q3 24 | $0.14 | $4.63 | ||
| Q2 24 | $0.06 | $3.46 | ||
| Q1 24 | $-0.13 | $4.93 |
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 | $813.0M |
| Total DebtLower is stronger | $2.7B | — |
| Stockholders' EquityBook value | $2.0B | $3.3B |
| Total Assets | $7.7B | $14.0B |
| Debt / EquityLower = less leverage | 1.40× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $784.2M | $813.0M | ||
| Q3 25 | $634.4M | $749.0M | ||
| Q2 25 | $618.2M | $912.0M | ||
| Q1 25 | $623.2M | $1.8B | ||
| Q4 24 | $793.3M | $1.4B | ||
| Q3 24 | $775.4M | $1.1B | ||
| Q2 24 | $567.3M | $2.0B | ||
| Q1 24 | $553.5M | $794.0M |
| Q4 25 | $2.7B | — | ||
| Q3 25 | $2.8B | $6.0B | ||
| Q2 25 | $3.0B | $6.0B | ||
| Q1 25 | $3.0B | $4.3B | ||
| Q4 24 | $3.0B | $3.8B | ||
| Q3 24 | $3.1B | $3.1B | ||
| Q2 24 | $3.1B | $3.9B | ||
| Q1 24 | $3.2B | $3.1B |
| Q4 25 | $2.0B | $3.3B | ||
| Q3 25 | $2.0B | $3.5B | ||
| Q2 25 | $1.9B | $3.6B | ||
| Q1 25 | $1.8B | $3.5B | ||
| Q4 24 | $1.8B | $3.5B | ||
| Q3 24 | $1.7B | $3.7B | ||
| Q2 24 | $1.6B | $3.9B | ||
| Q1 24 | $1.6B | $3.7B |
| Q4 25 | $7.7B | $14.0B | ||
| Q3 25 | $7.7B | $15.7B | ||
| Q2 25 | $7.6B | $15.9B | ||
| Q1 25 | $7.4B | $14.0B | ||
| Q4 24 | $7.5B | $13.3B | ||
| Q3 24 | $7.5B | $11.9B | ||
| Q2 24 | $7.3B | $12.8B | ||
| Q1 24 | $7.5B | $11.7B |
| Q4 25 | 1.40× | — | ||
| Q3 25 | 1.45× | 1.73× | ||
| Q2 25 | 1.57× | 1.69× | ||
| Q1 25 | 1.70× | 1.25× | ||
| Q4 24 | 1.73× | 1.07× | ||
| Q3 24 | 1.81× | 0.85× | ||
| Q2 24 | 1.91× | 1.01× | ||
| Q1 24 | 1.96× | 0.84× |
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 | $313.0M |
| Free Cash FlowOCF − Capex | $234.3M | $236.0M |
| FCF MarginFCF / Revenue | 8.0% | 13.2% |
| Capex IntensityCapex / Revenue | 0.8% | 4.3% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $293.0M | $159.0M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $257.3M | $313.0M | ||
| Q3 25 | $235.5M | $-20.0M | ||
| Q2 25 | $9.6M | $-67.0M | ||
| Q1 25 | $-162.0M | $153.0M | ||
| Q4 24 | $115.2M | $235.0M | ||
| Q3 24 | $196.1M | $-21.0M | ||
| Q2 24 | $21.8M | $177.0M | ||
| Q1 24 | $-125.1M | $242.0M |
| Q4 25 | $234.3M | $236.0M | ||
| Q3 25 | $225.0M | $-89.0M | ||
| Q2 25 | $300.0K | $-111.0M | ||
| Q1 25 | $-166.6M | $123.0M | ||
| Q4 24 | $105.9M | $184.0M | ||
| Q3 24 | $186.7M | $-64.0M | ||
| Q2 24 | $10.0M | $135.0M | ||
| Q1 24 | $-135.6M | $208.0M |
| Q4 25 | 8.0% | 13.2% | ||
| Q3 25 | 8.6% | -5.0% | ||
| Q2 25 | 0.0% | -6.1% | ||
| Q1 25 | -7.3% | 7.2% | ||
| Q4 24 | 4.0% | 11.5% | ||
| Q3 24 | 8.0% | -3.9% | ||
| Q2 24 | 0.4% | 7.9% | ||
| Q1 24 | -6.2% | 12.1% |
| Q4 25 | 0.8% | 4.3% | ||
| Q3 25 | 0.4% | 3.9% | ||
| Q2 25 | 0.4% | 2.4% | ||
| Q1 25 | 0.2% | 1.7% | ||
| Q4 24 | 0.4% | 3.2% | ||
| Q3 24 | 0.4% | 2.6% | ||
| Q2 24 | 0.5% | 2.5% | ||
| Q1 24 | 0.5% | 2.0% |
| Q4 25 | — | — | ||
| Q3 25 | 4.58× | — | ||
| Q2 25 | 0.17× | — | ||
| Q1 25 | -85.26× | 7.65× | ||
| Q4 24 | 1.02× | — | ||
| Q3 24 | 5.82× | -0.04× | ||
| Q2 24 | 1.61× | 0.49× | ||
| Q1 24 | — | 0.46× |
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% |
H
| Other | $627.0M | 35% |
| Rooms Revenue | $326.0M | 18% |
| Net Fees | $290.0M | 16% |
| Distribution Segment | $177.0M | 10% |
| Franchise And Other Fees | $114.0M | 6% |
| Base Management Fees | $112.0M | 6% |
| Incentive Management Fees | $81.0M | 5% |
| Other Owned And Leased Hotel Revenue | $41.0M | 2% |
| Contra Revenue | $17.0M | 1% |
| Other Revenues | $4.0M | 0% |
