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Side-by-side financial comparison of Cushman & Wakefield Ltd. (CWK) and XPO, Inc. (XPO). Click either name above to swap in a different company.
Cushman & Wakefield Ltd. is the larger business by last-quarter revenue ($2.9B vs $2.0B, roughly 1.4× XPO, Inc.). XPO, Inc. runs the higher net margin — 2.9% vs -0.8%, a 3.7% gap on every dollar of revenue. On growth, Cushman & Wakefield Ltd. posted the faster year-over-year revenue change (10.8% vs 4.7%). Over the past eight quarters, Cushman & Wakefield Ltd.'s revenue compounded faster (15.5% CAGR vs -0.1%).
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.
XPO, Inc., formerly XPO Logistics, is an American transportation company that conducts less-than-truckload shipping in North America. The company has headquarters in Greenwich, Connecticut, and has 592 locations globally. XPO is the second largest provider of less-than-truckload (LTL) services in North America, operating in 99 percent of all U.S. postal codes.
CWK vs XPO — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $2.9B | $2.0B |
| Net Profit | $-22.4M | $59.0M |
| Gross Margin | — | — |
| Operating Margin | 6.1% | 7.1% |
| Net Margin | -0.8% | 2.9% |
| Revenue YoY | 10.8% | 4.7% |
| Net Profit YoY | -119.8% | -21.3% |
| EPS (diluted) | $-0.10 | $0.49 |
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 | $2.0B | ||
| Q3 25 | $2.6B | $2.1B | ||
| Q2 25 | $2.5B | $2.1B | ||
| Q1 25 | $2.3B | $2.0B | ||
| Q4 24 | $2.6B | $1.9B | ||
| Q3 24 | $2.3B | $2.1B | ||
| Q2 24 | $2.3B | $2.1B | ||
| Q1 24 | $2.2B | $2.0B |
| Q4 25 | $-22.4M | $59.0M | ||
| Q3 25 | $51.4M | $82.0M | ||
| Q2 25 | $57.3M | $106.0M | ||
| Q1 25 | $1.9M | $69.0M | ||
| Q4 24 | $112.9M | $75.0M | ||
| Q3 24 | $33.7M | $95.0M | ||
| Q2 24 | $13.5M | $150.0M | ||
| Q1 24 | $-28.8M | $67.0M |
| Q4 25 | 6.1% | 7.1% | ||
| Q3 25 | 4.1% | 7.8% | ||
| Q2 25 | 4.9% | 9.5% | ||
| Q1 25 | 2.0% | 7.7% | ||
| Q4 24 | 6.6% | 7.8% | ||
| Q3 24 | 3.2% | 8.6% | ||
| Q2 24 | 3.1% | 9.5% | ||
| Q1 24 | 0.9% | 6.8% |
| Q4 25 | -0.8% | 2.9% | ||
| Q3 25 | 2.0% | 3.9% | ||
| Q2 25 | 2.3% | 5.1% | ||
| Q1 25 | 0.1% | 3.5% | ||
| Q4 24 | 4.3% | 3.9% | ||
| Q3 24 | 1.4% | 4.6% | ||
| Q2 24 | 0.6% | 7.2% | ||
| Q1 24 | -1.3% | 3.3% |
| Q4 25 | $-0.10 | $0.49 | ||
| Q3 25 | $0.22 | $0.68 | ||
| Q2 25 | $0.25 | $0.89 | ||
| Q1 25 | $0.01 | $0.58 | ||
| Q4 24 | $0.49 | $0.63 | ||
| Q3 24 | $0.14 | $0.79 | ||
| Q2 24 | $0.06 | $1.25 | ||
| Q1 24 | $-0.13 | $0.56 |
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 | $310.0M |
| Total DebtLower is stronger | $2.7B | — |
| Stockholders' EquityBook value | $2.0B | $1.9B |
| Total Assets | $7.7B | $8.2B |
| Debt / EquityLower = less leverage | 1.40× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $784.2M | $310.0M | ||
| Q3 25 | $634.4M | $335.0M | ||
| Q2 25 | $618.2M | $225.0M | ||
| Q1 25 | $623.2M | $212.0M | ||
| Q4 24 | $793.3M | $246.0M | ||
| Q3 24 | $775.4M | $378.0M | ||
| Q2 24 | $567.3M | $250.0M | ||
| Q1 24 | $553.5M | $229.0M |
| 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 | $1.9B | ||
| Q3 25 | $2.0B | $1.8B | ||
| Q2 25 | $1.9B | $1.8B | ||
| Q1 25 | $1.8B | $1.6B | ||
| Q4 24 | $1.8B | $1.6B | ||
| Q3 24 | $1.7B | $1.6B | ||
| Q2 24 | $1.6B | $1.5B | ||
| Q1 24 | $1.6B | $1.3B |
| Q4 25 | $7.7B | $8.2B | ||
| Q3 25 | $7.7B | $8.2B | ||
| Q2 25 | $7.6B | $8.1B | ||
| Q1 25 | $7.4B | $7.9B | ||
| Q4 24 | $7.5B | $7.7B | ||
| Q3 24 | $7.5B | $7.9B | ||
| Q2 24 | $7.3B | $7.7B | ||
| Q1 24 | $7.5B | $7.6B |
| 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 | — |
| Free Cash FlowOCF − Capex | $234.3M | — |
| FCF MarginFCF / Revenue | 8.0% | — |
| Capex IntensityCapex / Revenue | 0.8% | 5.3% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $293.0M | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $257.3M | — | ||
| Q3 25 | $235.5M | $371.0M | ||
| Q2 25 | $9.6M | $247.0M | ||
| Q1 25 | $-162.0M | $142.0M | ||
| Q4 24 | $115.2M | $189.0M | ||
| Q3 24 | $196.1M | $264.0M | ||
| Q2 24 | $21.8M | $210.0M | ||
| Q1 24 | $-125.1M | $145.0M |
| Q4 25 | $234.3M | — | ||
| Q3 25 | $225.0M | $215.0M | ||
| Q2 25 | $300.0K | $51.0M | ||
| Q1 25 | $-166.6M | $-57.0M | ||
| Q4 24 | $105.9M | $23.0M | ||
| Q3 24 | $186.7M | $137.0M | ||
| Q2 24 | $10.0M | $20.0M | ||
| Q1 24 | $-135.6M | $-161.0M |
| Q4 25 | 8.0% | — | ||
| Q3 25 | 8.6% | 10.2% | ||
| Q2 25 | 0.0% | 2.5% | ||
| Q1 25 | -7.3% | -2.9% | ||
| Q4 24 | 4.0% | 1.2% | ||
| Q3 24 | 8.0% | 6.7% | ||
| Q2 24 | 0.4% | 1.0% | ||
| Q1 24 | -6.2% | -8.0% |
| Q4 25 | 0.8% | 5.3% | ||
| Q3 25 | 0.4% | 7.4% | ||
| Q2 25 | 0.4% | 9.4% | ||
| Q1 25 | 0.2% | 10.2% | ||
| Q4 24 | 0.4% | 8.6% | ||
| Q3 24 | 0.4% | 6.2% | ||
| Q2 24 | 0.5% | 9.1% | ||
| Q1 24 | 0.5% | 15.2% |
| Q4 25 | — | — | ||
| Q3 25 | 4.58× | 4.52× | ||
| Q2 25 | 0.17× | 2.33× | ||
| Q1 25 | -85.26× | 2.06× | ||
| Q4 24 | 1.02× | 2.52× | ||
| Q3 24 | 5.82× | 2.78× | ||
| Q2 24 | 1.61× | 1.40× | ||
| Q1 24 | — | 2.16× |
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% |
XPO
| North American LTL | $1.2B | 58% |
| European Transportation | $844.0M | 42% |
