Pulling SEC filings + quote and writing the call…
| Fiscal year | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|
| Revenue | $6.92B | $8.22B | $8.75B | $7.84B | $9.39B | $10.1B | $9.49B | $9.45B | $10.3B |
| Revenue growth | — | 18.7% | 6.5% | -10.4% | 19.7% | 7.6% | -6.1% | -0.5% | 8.9% |
| Operating income | -$171M | $12.6M | $187M | -$53.1M | $497M | $535M | $206M | $339M | $453M |
| Operating margin | -2.5% | 0.2% | 2.1% | -0.7% | 5.3% | 5.3% | 2.2% | 3.6% | 4.4% |
| Net income | -$221M | -$186M | $200K | -$221M | $250M | $196M | -$35.4M | $131M | $88.2M |
| Net margin | -3.2% | -2.3% | 0.0% | -2.8% | 2.7% | 1.9% | -0.4% | 1.4% | 0.9% |
| EPS (diluted) | -$1.54 | -$1.09 | $0.00 | -$1.00 | $1.10 | $0.86 | -$0.16 | $0.56 | $0.38 |
| Fiscal year | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $4.40M | -$2.20M | $269M | -$38.2M | $550M | $49.1M | $152M | $208M | $340M |
| Capital expenditures | $129M | $84.2M | $80.3M | $41.0M | $53.8M | $50.7M | $51.0M | $41.0M | $47.4M |
| Free cash flow | -$125M | -$86.4M | $189M | -$79.2M | $496M | -$1.60M | $101M | $167M | $293M |
| Fiscal year | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|
| Cash & equivalents | $406M | $895M | $813M | $1.07B | $771M | $645M | $768M | $793M | $784M |
| Total assets | $5.79B | $6.55B | $7.16B | $7.34B | $7.89B | $7.95B | $7.77B | $7.55B | $7.68B |
| Total liabilities | $5.29B | $5.19B | $5.86B | $6.24B | $6.44B | $6.29B | $6.10B | $5.79B | $5.72B |
| Long-term debt | $2.78B | $2.64B | $2.62B | $3.24B | $3.22B | $3.21B | $3.10B | $2.94B | $2.62B |
| Shareholders' equity | $499M | $1.36B | $1.30B | $1.09B | $1.45B | $1.66B | $1.68B | $1.75B | $1.96B |
| Retained earnings | -$1.15B | -$1.30B | -$1.30B | -$1.53B | -$1.28B | -$1.08B | -$1.12B | -$986M | -$898M |
| Shares (wtd avg diluted) | 144M | 171M | 225M | 221M | 227M | 228M | 227M | 233M | 235M |
Every figure is extracted from Cushman & Wakefield Ltd.’s annual reports as filed with the SEC (XBRL company facts) — no third-party estimates. Fiscal years are labeled by period end; filers occasionally re-tag concepts, so a sparse cell means the company didn’t report that concept for that year. Free cash flow = operating cash flow − capital expenditures.
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