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Side-by-side financial comparison of Cushman & Wakefield Ltd. (CWK) and Zoetis (ZTS). 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× Zoetis). Zoetis runs the higher net margin — 25.3% vs -0.8%, a 26.0% gap on every dollar of revenue. On growth, Cushman & Wakefield Ltd. posted the faster year-over-year revenue change (10.8% vs 3.0%). Zoetis produced more free cash flow last quarter ($732.0M vs $234.3M). Over the past eight quarters, Cushman & Wakefield Ltd.'s revenue compounded faster (15.5% CAGR vs 4.4%).
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.
Zoetis Inc. (/zō-EH-tis/) is an American drug company, the world's largest producer of medicine and vaccinations for pets and livestock. The company was a subsidiary of Pfizer, the world's largest drug maker, but with Pfizer's spinoff of its 83% interest in the firm it is now a completely independent company. The company directly markets its products in approximately 45 countries, and sells them in more than 100 countries. Operations outside the United States accounted for 50% of the total re...
CWK vs ZTS — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $2.9B | $2.4B |
| Net Profit | $-22.4M | $603.0M |
| Gross Margin | — | 70.2% |
| Operating Margin | 6.1% | 31.9% |
| Net Margin | -0.8% | 25.3% |
| Revenue YoY | 10.8% | 3.0% |
| Net Profit YoY | -119.8% | 3.8% |
| EPS (diluted) | $-0.10 | $1.37 |
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 | $2.4B | ||
| Q2 25 | $2.5B | $2.5B | ||
| Q1 25 | $2.3B | $2.2B | ||
| Q4 24 | $2.6B | $2.3B | ||
| Q3 24 | $2.3B | $2.4B | ||
| Q2 24 | $2.3B | $2.4B | ||
| Q1 24 | $2.2B | $2.2B |
| Q4 25 | $-22.4M | $603.0M | ||
| Q3 25 | $51.4M | $721.0M | ||
| Q2 25 | $57.3M | $718.0M | ||
| Q1 25 | $1.9M | $631.0M | ||
| Q4 24 | $112.9M | $581.0M | ||
| Q3 24 | $33.7M | $682.0M | ||
| Q2 24 | $13.5M | $624.0M | ||
| Q1 24 | $-28.8M | $599.0M |
| Q4 25 | — | 70.2% | ||
| Q3 25 | — | 71.5% | ||
| Q2 25 | — | 73.6% | ||
| Q1 25 | — | 72.0% | ||
| Q4 24 | — | 69.5% | ||
| Q3 24 | — | 70.6% | ||
| Q2 24 | — | 71.7% | ||
| Q1 24 | — | 70.6% |
| Q4 25 | 6.1% | 31.9% | ||
| Q3 25 | 4.1% | 37.0% | ||
| Q2 25 | 4.9% | 36.7% | ||
| Q1 25 | 2.0% | 36.5% | ||
| Q4 24 | 6.6% | 31.6% | ||
| Q3 24 | 3.2% | 36.6% | ||
| Q2 24 | 3.1% | 33.0% | ||
| Q1 24 | 0.9% | 34.1% |
| Q4 25 | -0.8% | 25.3% | ||
| Q3 25 | 2.0% | 30.0% | ||
| Q2 25 | 2.3% | 29.2% | ||
| Q1 25 | 0.1% | 28.4% | ||
| Q4 24 | 4.3% | 25.1% | ||
| Q3 24 | 1.4% | 28.6% | ||
| Q2 24 | 0.6% | 26.4% | ||
| Q1 24 | -1.3% | 27.4% |
| Q4 25 | $-0.10 | $1.37 | ||
| Q3 25 | $0.22 | $1.63 | ||
| Q2 25 | $0.25 | $1.61 | ||
| Q1 25 | $0.01 | $1.41 | ||
| Q4 24 | $0.49 | $1.29 | ||
| Q3 24 | $0.14 | $1.50 | ||
| Q2 24 | $0.06 | $1.37 | ||
| Q1 24 | $-0.13 | $1.31 |
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 | — |
| Total DebtLower is stronger | $2.7B | — |
| Stockholders' EquityBook value | $2.0B | $3.3B |
| Total Assets | $7.7B | $15.5B |
| Debt / EquityLower = less leverage | 1.40× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $784.2M | — | ||
| Q3 25 | $634.4M | $2.1B | ||
| Q2 25 | $618.2M | $1.4B | ||
| Q1 25 | $623.2M | $1.7B | ||
| Q4 24 | $793.3M | $2.0B | ||
| Q3 24 | $775.4M | $1.7B | ||
| Q2 24 | $567.3M | $1.6B | ||
| Q1 24 | $553.5M | $2.0B |
| 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 | $3.3B | ||
| Q3 25 | $2.0B | $5.4B | ||
| Q2 25 | $1.9B | $5.0B | ||
| Q1 25 | $1.8B | $4.7B | ||
| Q4 24 | $1.8B | $4.8B | ||
| Q3 24 | $1.7B | $5.2B | ||
| Q2 24 | $1.6B | $5.0B | ||
| Q1 24 | $1.6B | $5.1B |
| Q4 25 | $7.7B | $15.5B | ||
| Q3 25 | $7.7B | $15.2B | ||
| Q2 25 | $7.6B | $14.5B | ||
| Q1 25 | $7.4B | $14.1B | ||
| Q4 24 | $7.5B | $14.2B | ||
| Q3 24 | $7.5B | $14.4B | ||
| Q2 24 | $7.3B | $14.2B | ||
| Q1 24 | $7.5B | $14.3B |
| 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 | $893.0M |
| Free Cash FlowOCF − Capex | $234.3M | $732.0M |
| FCF MarginFCF / Revenue | 8.0% | 30.7% |
| Capex IntensityCapex / Revenue | 0.8% | 6.7% |
| Cash ConversionOCF / Net Profit | — | 1.48× |
| TTM Free Cash FlowTrailing 4 quarters | $293.0M | $2.3B |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $257.3M | $893.0M | ||
| Q3 25 | $235.5M | $938.0M | ||
| Q2 25 | $9.6M | $486.0M | ||
| Q1 25 | $-162.0M | $587.0M | ||
| Q4 24 | $115.2M | $905.0M | ||
| Q3 24 | $196.1M | $951.0M | ||
| Q2 24 | $21.8M | $502.0M | ||
| Q1 24 | $-125.1M | $595.0M |
| Q4 25 | $234.3M | $732.0M | ||
| Q3 25 | $225.0M | $805.0M | ||
| Q2 25 | $300.0K | $308.0M | ||
| Q1 25 | $-166.6M | $438.0M | ||
| Q4 24 | $105.9M | $689.0M | ||
| Q3 24 | $186.7M | $784.0M | ||
| Q2 24 | $10.0M | $370.0M | ||
| Q1 24 | $-135.6M | $455.0M |
| Q4 25 | 8.0% | 30.7% | ||
| Q3 25 | 8.6% | 33.5% | ||
| Q2 25 | 0.0% | 12.5% | ||
| Q1 25 | -7.3% | 19.7% | ||
| Q4 24 | 4.0% | 29.7% | ||
| Q3 24 | 8.0% | 32.8% | ||
| Q2 24 | 0.4% | 15.7% | ||
| Q1 24 | -6.2% | 20.8% |
| Q4 25 | 0.8% | 6.7% | ||
| Q3 25 | 0.4% | 5.5% | ||
| Q2 25 | 0.4% | 7.2% | ||
| Q1 25 | 0.2% | 6.7% | ||
| Q4 24 | 0.4% | 9.3% | ||
| Q3 24 | 0.4% | 7.0% | ||
| Q2 24 | 0.5% | 5.6% | ||
| Q1 24 | 0.5% | 6.4% |
| Q4 25 | — | 1.48× | ||
| Q3 25 | 4.58× | 1.30× | ||
| Q2 25 | 0.17× | 0.68× | ||
| Q1 25 | -85.26× | 0.93× | ||
| Q4 24 | 1.02× | 1.56× | ||
| Q3 24 | 5.82× | 1.39× | ||
| Q2 24 | 1.61× | 0.80× | ||
| Q1 24 | — | 0.99× |
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% |
ZTS
| Other | $1.3B | 56% |
| Livestock | $234.0M | 10% |
| Pain Sedation | $209.0M | 9% |
| Other Pharmaceuticals | $188.0M | 8% |
| Swine | $125.0M | 5% |
| Poultry | $117.0M | 5% |
| Fish | $81.0M | 3% |
| Other Non Pharmaceuticals | $70.0M | 3% |
| Manufactured Product Other | $18.0M | 1% |
| Medicated Feed Additives | $12.0M | 1% |
