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Side-by-side financial comparison of Cushman & Wakefield Ltd. (CWK) and Workday, Inc. (WDAY). 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× Workday, Inc.). Workday, Inc. runs the higher net margin — 10.4% vs -0.8%, a 11.1% gap on every dollar of revenue. On growth, Workday, Inc. posted the faster year-over-year revenue change (12.6% vs 10.8%). Workday, Inc. produced more free cash flow last quarter ($550.0M vs $234.3M). Over the past eight quarters, Cushman & Wakefield Ltd.'s revenue compounded faster (15.5% CAGR vs 12.5%).
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.
Workday, Inc. is a leading global enterprise cloud software provider that develops and distributes human capital management, financial management, and enterprise resource planning solutions. It caters primarily to mid-sized and large organizations across sectors including education, healthcare, finance, and technology, with operations spanning North America, Europe, and Asia Pacific.
CWK vs WDAY — Head-to-Head
Income Statement — Q4 FY2025 vs Q3 FY2026
| Metric | | |
|---|---|---|
| Revenue | $2.9B | $2.4B |
| Net Profit | $-22.4M | $252.0M |
| Gross Margin | — | — |
| Operating Margin | 6.1% | 10.6% |
| Net Margin | -0.8% | 10.4% |
| Revenue YoY | 10.8% | 12.6% |
| Net Profit YoY | -119.8% | 30.6% |
| EPS (diluted) | $-0.10 | $0.94 |
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 | $2.3B | ||
| Q2 25 | $2.5B | $2.2B | ||
| Q1 25 | $2.3B | $2.2B | ||
| Q4 24 | $2.6B | $2.2B | ||
| Q3 24 | $2.3B | $2.1B | ||
| Q2 24 | $2.3B | $2.0B | ||
| Q1 24 | $2.2B | $1.9B |
| Q4 25 | $-22.4M | $252.0M | ||
| Q3 25 | $51.4M | $228.0M | ||
| Q2 25 | $57.3M | $68.0M | ||
| Q1 25 | $1.9M | $94.0M | ||
| Q4 24 | $112.9M | $193.0M | ||
| Q3 24 | $33.7M | $132.0M | ||
| Q2 24 | $13.5M | $107.0M | ||
| Q1 24 | $-28.8M | $1.2B |
| Q4 25 | 6.1% | 10.6% | ||
| Q3 25 | 4.1% | 10.6% | ||
| Q2 25 | 4.9% | 1.7% | ||
| Q1 25 | 2.0% | 3.4% | ||
| Q4 24 | 6.6% | 7.6% | ||
| Q3 24 | 3.2% | 5.3% | ||
| Q2 24 | 3.1% | 3.2% | ||
| Q1 24 | 0.9% | 4.1% |
| Q4 25 | -0.8% | 10.4% | ||
| Q3 25 | 2.0% | 9.7% | ||
| Q2 25 | 2.3% | 3.0% | ||
| Q1 25 | 0.1% | 4.3% | ||
| Q4 24 | 4.3% | 8.9% | ||
| Q3 24 | 1.4% | 6.3% | ||
| Q2 24 | 0.6% | 5.4% | ||
| Q1 24 | -1.3% | 61.8% |
| Q4 25 | $-0.10 | $0.94 | ||
| Q3 25 | $0.22 | $0.84 | ||
| Q2 25 | $0.25 | $0.25 | ||
| Q1 25 | $0.01 | $0.34 | ||
| Q4 24 | $0.49 | $0.72 | ||
| Q3 24 | $0.14 | $0.49 | ||
| Q2 24 | $0.06 | $0.40 | ||
| Q1 24 | $-0.13 | $4.48 |
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 | $6.8B |
| Total DebtLower is stronger | $2.7B | — |
| Stockholders' EquityBook value | $2.0B | $8.9B |
| Total Assets | $7.7B | $17.8B |
| Debt / EquityLower = less leverage | 1.40× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $784.2M | $6.8B | ||
| Q3 25 | $634.4M | $8.2B | ||
| Q2 25 | $618.2M | $8.0B | ||
| Q1 25 | $623.2M | $8.0B | ||
| Q4 24 | $793.3M | $7.2B | ||
| Q3 24 | $775.4M | $7.4B | ||
| Q2 24 | $567.3M | $7.2B | ||
| Q1 24 | $553.5M | $7.8B |
| 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 | $3.0B | ||
| Q1 24 | $3.2B | $3.0B |
| Q4 25 | $2.0B | $8.9B | ||
| Q3 25 | $2.0B | $9.2B | ||
| Q2 25 | $1.9B | $8.9B | ||
| Q1 25 | $1.8B | $9.0B | ||
| Q4 24 | $1.8B | $8.6B | ||
| Q3 24 | $1.7B | $8.3B | ||
| Q2 24 | $1.6B | $8.2B | ||
| Q1 24 | $1.6B | $8.1B |
| Q4 25 | $7.7B | $17.8B | ||
| Q3 25 | $7.7B | $18.0B | ||
| Q2 25 | $7.6B | $17.2B | ||
| Q1 25 | $7.4B | $18.0B | ||
| Q4 24 | $7.5B | $16.4B | ||
| Q3 24 | $7.5B | $16.2B | ||
| Q2 24 | $7.3B | $15.9B | ||
| Q1 24 | $7.5B | $16.5B |
| 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× | 0.37× | ||
| Q1 24 | 1.96× | 0.37× |
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 | $588.0M |
| Free Cash FlowOCF − Capex | $234.3M | $550.0M |
| FCF MarginFCF / Revenue | 8.0% | 22.6% |
| Capex IntensityCapex / Revenue | 0.8% | 1.6% |
| Cash ConversionOCF / Net Profit | — | 2.33× |
| TTM Free Cash FlowTrailing 4 quarters | $293.0M | $2.6B |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $257.3M | $588.0M | ||
| Q3 25 | $235.5M | $616.0M | ||
| Q2 25 | $9.6M | $457.0M | ||
| Q1 25 | $-162.0M | $1.1B | ||
| Q4 24 | $115.2M | $406.0M | ||
| Q3 24 | $196.1M | $571.0M | ||
| Q2 24 | $21.8M | $372.0M | ||
| Q1 24 | $-125.1M | $995.6M |
| Q4 25 | $234.3M | $550.0M | ||
| Q3 25 | $225.0M | $588.0M | ||
| Q2 25 | $300.0K | $421.0M | ||
| Q1 25 | $-166.6M | $1.0B | ||
| Q4 24 | $105.9M | $359.0M | ||
| Q3 24 | $186.7M | $516.0M | ||
| Q2 24 | $10.0M | $291.0M | ||
| Q1 24 | $-135.6M | $947.6M |
| Q4 25 | 8.0% | 22.6% | ||
| Q3 25 | 8.6% | 25.0% | ||
| Q2 25 | 0.0% | 18.8% | ||
| Q1 25 | -7.3% | 46.4% | ||
| Q4 24 | 4.0% | 16.6% | ||
| Q3 24 | 8.0% | 24.7% | ||
| Q2 24 | 0.4% | 14.6% | ||
| Q1 24 | -6.2% | 49.3% |
| Q4 25 | 0.8% | 1.6% | ||
| Q3 25 | 0.4% | 1.2% | ||
| Q2 25 | 0.4% | 1.6% | ||
| Q1 25 | 0.2% | 3.9% | ||
| Q4 24 | 0.4% | 2.2% | ||
| Q3 24 | 0.4% | 2.6% | ||
| Q2 24 | 0.5% | 4.1% | ||
| Q1 24 | 0.5% | 2.5% |
| Q4 25 | — | 2.33× | ||
| Q3 25 | 4.58× | 2.70× | ||
| Q2 25 | 0.17× | 6.72× | ||
| Q1 25 | -85.26× | 11.83× | ||
| Q4 24 | 1.02× | 2.10× | ||
| Q3 24 | 5.82× | 4.33× | ||
| Q2 24 | 1.61× | 3.48× | ||
| Q1 24 | — | 0.84× |
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% |
WDAY
| Subscription Services | $2.2B | 92% |
| Professional Services | $188.0M | 8% |
