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Side-by-side financial comparison of Cushman & Wakefield Ltd. (CWK) and THOR INDUSTRIES INC (THO). Click either name above to swap in a different company.
Cushman & Wakefield Ltd. is the larger business by last-quarter revenue ($2.9B vs $2.4B, roughly 1.2× THOR INDUSTRIES INC). THOR INDUSTRIES INC runs the higher net margin — 0.9% vs -0.8%, a 1.7% gap on every dollar of revenue. On growth, THOR INDUSTRIES INC posted the faster year-over-year revenue change (11.5% vs 10.8%). Cushman & Wakefield Ltd. produced more free cash flow last quarter ($234.3M vs $-74.8M). Over the past eight quarters, Cushman & Wakefield Ltd.'s revenue compounded faster (15.5% CAGR vs 4.0%).
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.
Thor Industries, Inc. is an American manufacturer of recreational vehicles (RVs). The company sells towable and motorized RVs through its subsidiaries brands including Airstream, Heartland RV, Jayco, and others. The company's headquarters is in Elkhart, Indiana. It has manufacturing facilities in Michigan, Ohio, Indiana, Idaho and Oregon.
CWK vs THO — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $2.9B | $2.4B |
| Net Profit | $-22.4M | $21.7M |
| Gross Margin | — | 13.4% |
| Operating Margin | 6.1% | 1.4% |
| Net Margin | -0.8% | 0.9% |
| Revenue YoY | 10.8% | 11.5% |
| Net Profit YoY | -119.8% | 1282.8% |
| EPS (diluted) | $-0.10 | $0.41 |
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 | $2.4B | ||
| Q3 25 | $2.6B | $2.5B | ||
| Q2 25 | $2.5B | $2.9B | ||
| Q1 25 | $2.3B | $2.0B | ||
| Q4 24 | $2.6B | $2.1B | ||
| Q3 24 | $2.3B | $2.5B | ||
| Q2 24 | $2.3B | $2.8B | ||
| Q1 24 | $2.2B | $2.2B |
| Q4 25 | $-22.4M | $21.7M | ||
| Q3 25 | $51.4M | $125.8M | ||
| Q2 25 | $57.3M | $135.2M | ||
| Q1 25 | $1.9M | $-551.0K | ||
| Q4 24 | $112.9M | $-1.8M | ||
| Q3 24 | $33.7M | $90.0M | ||
| Q2 24 | $13.5M | $114.5M | ||
| Q1 24 | $-28.8M | $7.2M |
| Q4 25 | — | 13.4% | ||
| Q3 25 | — | 14.7% | ||
| Q2 25 | — | 15.3% | ||
| Q1 25 | — | 12.1% | ||
| Q4 24 | — | 13.1% | ||
| Q3 24 | — | 15.8% | ||
| Q2 24 | — | 15.1% | ||
| Q1 24 | — | 12.3% |
| Q4 25 | 6.1% | 1.4% | ||
| Q3 25 | 4.1% | 5.7% | ||
| Q2 25 | 4.9% | 5.4% | ||
| Q1 25 | 2.0% | -0.1% | ||
| Q4 24 | 6.6% | -0.1% | ||
| Q3 24 | 3.2% | 5.0% | ||
| Q2 24 | 3.1% | 5.1% | ||
| Q1 24 | 0.9% | 0.3% |
| Q4 25 | -0.8% | 0.9% | ||
| Q3 25 | 2.0% | 5.0% | ||
| Q2 25 | 2.3% | 4.7% | ||
| Q1 25 | 0.1% | -0.0% | ||
| Q4 24 | 4.3% | -0.1% | ||
| Q3 24 | 1.4% | 3.6% | ||
| Q2 24 | 0.6% | 4.1% | ||
| Q1 24 | -1.3% | 0.3% |
| Q4 25 | $-0.10 | $0.41 | ||
| Q3 25 | $0.22 | $2.35 | ||
| Q2 25 | $0.25 | $2.53 | ||
| Q1 25 | $0.01 | $-0.01 | ||
| Q4 24 | $0.49 | $-0.03 | ||
| Q3 24 | $0.14 | $1.69 | ||
| Q2 24 | $0.06 | $2.13 | ||
| Q1 24 | $-0.13 | $0.13 |
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 | $509.9M |
| Total DebtLower is stronger | $2.7B | $916.0M |
| Stockholders' EquityBook value | $2.0B | $4.3B |
| Total Assets | $7.7B | $7.0B |
| Debt / EquityLower = less leverage | 1.40× | 0.21× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $784.2M | $509.9M | ||
| Q3 25 | $634.4M | $586.6M | ||
| Q2 25 | $618.2M | $508.3M | ||
| Q1 25 | $623.2M | $373.8M | ||
| Q4 24 | $793.3M | $445.2M | ||
| Q3 24 | $775.4M | $501.3M | ||
| Q2 24 | $567.3M | $371.8M | ||
| Q1 24 | $553.5M | $340.2M |
| Q4 25 | $2.7B | $916.0M | ||
| Q3 25 | $2.8B | $923.0M | ||
| Q2 25 | $3.0B | $1.0B | ||
| Q1 25 | $3.0B | $1.0B | ||
| Q4 24 | $3.0B | $1.1B | ||
| Q3 24 | $3.1B | $1.1B | ||
| Q2 24 | $3.1B | $1.2B | ||
| Q1 24 | $3.2B | $1.4B |
| Q4 25 | $2.0B | $4.3B | ||
| Q3 25 | $2.0B | $4.3B | ||
| Q2 25 | $1.9B | $4.2B | ||
| Q1 25 | $1.8B | $4.0B | ||
| Q4 24 | $1.8B | $4.1B | ||
| Q3 24 | $1.7B | $4.1B | ||
| Q2 24 | $1.6B | $4.0B | ||
| Q1 24 | $1.6B | $3.9B |
| Q4 25 | $7.7B | $7.0B | ||
| Q3 25 | $7.7B | $7.1B | ||
| Q2 25 | $7.6B | $7.2B | ||
| Q1 25 | $7.4B | $6.7B | ||
| Q4 24 | $7.5B | $6.9B | ||
| Q3 24 | $7.5B | $7.0B | ||
| Q2 24 | $7.3B | $7.2B | ||
| Q1 24 | $7.5B | $7.2B |
| Q4 25 | 1.40× | 0.21× | ||
| Q3 25 | 1.45× | 0.22× | ||
| Q2 25 | 1.57× | 0.24× | ||
| Q1 25 | 1.70× | 0.26× | ||
| Q4 24 | 1.73× | 0.27× | ||
| Q3 24 | 1.81× | 0.28× | ||
| Q2 24 | 1.91× | 0.31× | ||
| Q1 24 | 1.96× | 0.36× |
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 | $-44.9M |
| Free Cash FlowOCF − Capex | $234.3M | $-74.8M |
| FCF MarginFCF / Revenue | 8.0% | -3.1% |
| Capex IntensityCapex / Revenue | 0.8% | 1.3% |
| Cash ConversionOCF / Net Profit | — | -2.07× |
| TTM Free Cash FlowTrailing 4 quarters | $293.0M | $375.1M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $257.3M | $-44.9M | ||
| Q3 25 | $235.5M | $258.7M | ||
| Q2 25 | $9.6M | $257.7M | ||
| Q1 25 | $-162.0M | $30.8M | ||
| Q4 24 | $115.2M | $30.7M | ||
| Q3 24 | $196.1M | $338.0M | ||
| Q2 24 | $21.8M | $251.7M | ||
| Q1 24 | $-125.1M | $-103.9M |
| Q4 25 | $234.3M | $-74.8M | ||
| Q3 25 | $225.0M | $221.6M | ||
| Q2 25 | $300.0K | $222.5M | ||
| Q1 25 | $-166.6M | $5.8M | ||
| Q4 24 | $105.9M | $6.4M | ||
| Q3 24 | $186.7M | $301.3M | ||
| Q2 24 | $10.0M | $225.4M | ||
| Q1 24 | $-135.6M | $-140.2M |
| Q4 25 | 8.0% | -3.1% | ||
| Q3 25 | 8.6% | 8.8% | ||
| Q2 25 | 0.0% | 7.7% | ||
| Q1 25 | -7.3% | 0.3% | ||
| Q4 24 | 4.0% | 0.3% | ||
| Q3 24 | 8.0% | 11.9% | ||
| Q2 24 | 0.4% | 8.0% | ||
| Q1 24 | -6.2% | -6.4% |
| Q4 25 | 0.8% | 1.3% | ||
| Q3 25 | 0.4% | 1.5% | ||
| Q2 25 | 0.4% | 1.2% | ||
| Q1 25 | 0.2% | 1.2% | ||
| Q4 24 | 0.4% | 1.1% | ||
| Q3 24 | 0.4% | 1.4% | ||
| Q2 24 | 0.5% | 0.9% | ||
| Q1 24 | 0.5% | 1.6% |
| Q4 25 | — | -2.07× | ||
| Q3 25 | 4.58× | 2.06× | ||
| Q2 25 | 0.17× | 1.91× | ||
| Q1 25 | -85.26× | — | ||
| Q4 24 | 1.02× | — | ||
| Q3 24 | 5.82× | 3.76× | ||
| Q2 24 | 1.61× | 2.20× | ||
| Q1 24 | — | -14.39× |
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% |
THO
| Other | $417.1M | 17% |
| Travel Trailers | $403.6M | 17% |
| Motorcaravan | $391.9M | 16% |
| Fifth Wheels Towables | $306.9M | 13% |
| Classc Motorized | $297.2M | 12% |
| Campervan | $188.3M | 8% |
| Classa Motorized | $169.9M | 7% |
| Classb Motorized | $110.0M | 5% |
| Other Rv Related | $70.0M | 3% |
| Caravan | $34.3M | 1% |
