Expectations trend
FY2027 · fiscal year ending 2027-12-31 · fmp
Cushman & Wakefield plc (CWK)
NYSEReal EstateReal Estate - ServicesSnapshot 2026-11-04
$14.18-5.02%
Close 2026-11-05 · 1-day change
NYSEReal EstateReal Estate - ServicesSnapshot 2026-11-04
The long-term thesis, the evidence coming in, and the environment around it. Thesis dated Jul 8, 2026.
Next-FY EPS estimate change · 30 days
1.72 → 1.66 EPS · FY ending Dec 31, 2027 · 7 analysts
One observable signal. This measures changing earnings expectations, not the probability of a gain or loss.
Change in the same fiscal period’s mean EPS estimate from Oct 5, 2026 to Nov 4, 2026: (new ÷ prior − 1). Contributor count changed from 7 to 7; this is not the number of analysts revising. The ±10% axis is a display range.
The EPS and P/E reference is not available for CWK yet.
| Measure / period | Management expectations | Analyst expectations |
|---|
Management figures unavailable.
Current consensus figures unavailable.
4 published thesis conditions, with dated milestones shown separately.
| Key Factor | Why It Matters | Current Status | Break Condition | Latest Evidence |
|---|---|---|---|---|
Positive cash flow from operations by FY28 | They plan to improve cash flow, targeting $800M by 2028. | Improving | Free cash flow falls below $800M in FY28 | Free cash flow: $74.1M FY2026-Q2; GAAP. Published target: >=800 USD_MILLIONS. Annual target cannot be compared with a quarterly or TTM observation. Aug 5, 202674,100,000 USD · calculatedLast status assessment Nov 4, 2026Compare required operating outcomesCompare scope, accounting basis and period before treating this evidence as progress against an annual requirement. |
Compare these dated observations with the operating requirements above
FY2027 · fiscal year ending 2027-12-31 · fmp
The evidence, the remaining questions, and what comes next
No recovery evidence is reported in the available driver assessments.
Observed price history; separate from operating scenarios
The weekly editorial context below is a separate assessment from the dated monitor evidence above. Recovery observations do not automatically change the published thesis. Unverified outside influences are hypotheses, not measured driver evidence.
CWK is a real estate services business with a growth thesis tied to expanding revenue and earnings while reducing borrowing costs. The multi-year view is intact, but confidence is medium and the evidence points to fragile earnings quality and elevated risk.
The valuation evidence is mixed: CWK is described as cheap versus peers, while another measure shows a peer premium. Expectations are not especially demanding, and the priced-in assessment says fragility is low rather than reflecting a broader expensive, weak, and turbulent setup.
Near term, recent results show revenue growth and higher adjusted EPS, and management raised its 2026 adjusted EPS growth guidance. But Services growth slowed in the latest quarter, and CWK has a run of earnings misses that includes its most recent quarter. Debt repayments show progress on capital structure, though the evidence rates that priority as mixed.
A key near-term test is whether CWK can deliver on recently raised guidance; reversing course would damage credibility as well as lower expectations. Over the multi-year view, durable growth across service lines and continued debt reduction matter, while lower interest rates could help the sector. Weak results or guidance from sector peers could remove that support.
For the next 1 to 3 years, the thesis rests on continued revenue and earnings delivery, with the recent guidance increase balanced against a record of misses and fragile execution quality. Not investment advice.
Not investment advice. Scores describe historical and current data; they are not forecasts of future returns. Consult a licensed advisor before making investment decisions.
| A supporting condition in Cushman & Wakefield plc's published investment case. The stated target is No material increase in off-balance sheet obligations. |
| Under Pressure |
| New material off-balance sheet obligations created |
New off-balance sheet obligation created (Item 2.03) vs target of no material increase June 2026 filing confirms creation of new off-balance sheet obligations, violating the target of no material increase. Nov 4, 2026Last status assessment Nov 4, 2026Compare required operating outcomesCompare scope, accounting basis and period before treating this evidence as progress against an annual requirement. |
Operating income improvement from recent lows | A primary condition in Cushman & Wakefield plc's published investment case. The stated target is Operating income recovers above $58.7M quarterly run rate. | Improving | Operating income remains below $58.7M quarterly | Operating income: $129.9M FY2026-Q3; GAAP. Published target: Operating income recovers above $58.7M quarterly run rate. Target period is not explicitly aligned with this observation. Nov 4, 2026129,900,000 USD · source valueLast status assessment Nov 4, 2026Compare required operating outcomesCompare scope, accounting basis and period before treating this evidence as progress against an annual requirement. Management contextStated in 2 of 4 supplied quarters. Management reported: “We are driving operating leverage as we scale the platform and driving consistent value through capital structure improvements, leading to 67% Adjusted earnings per share growth in the quarter,” said Michelle MacKay, Chief Executive Officer of Cushman & Wakefield.” ““Today we reported our seventh consecutive quarter of double-digit adjusted earnings per share growth, showcasing the power of our balanced platform and strategy.” Delivery assessment Nov 4, 2026 |
Revenue at or above $10.3B in FY26 | A primary condition in Cushman & Wakefield plc's published investment case. The stated target is >=10.3 USD_BILLIONS. | Intact | Revenue falls below $10.3B in FY26 | Revenue: $2.808B FY2026-Q3; GAAP. Published target: >=10.3 USD_BILLIONS. Annual target cannot be compared with a quarterly or TTM observation. Nov 4, 20262,807,800,000 USD · source valueLast status assessment Nov 4, 2026Compare required operating outcomesCompare scope, accounting basis and period before treating this evidence as progress against an annual requirement. |
Stored thesis · Jul 8, 2026. Latest Evidence uses source-matched measurements where available, alongside the last thesis-monitor assessment. Source periods and assessment dates are shown separately. A new measurement does not automatically change the published status or verify an older target.
$1.71 → $1.66 · observed estimates
$9.09B → $11.82B · observed estimates
One fiscal period and provider throughout. At least five contributors are required for each plotted metric; missing coverage stays a gap. Axes show the observed range. Counts measure coverage, not revisions.
| Snapshot | EPS | Revenue | EPS / revenue analysts |
|---|---|---|---|
| 2026-07-24 | $1.71 | $9,091,156,375 | 7 / 6 |
| 2026-07-25 | $1.71 | $9,091,156,375 | 7 / 6 |
| 2026-07-26 | $1.72 | $11,805,601,257 | 7 / 6 |
| 2026-07-27 | $1.66 | $11,832,572,680 | 12 / 7 |
| 2026-07-28 | $1.66 | $11,832,572,680 | 12 / 7 |
| 2026-07-29 | $1.72 | $11,805,601,257 | 7 / 6 |
| 2026-07-30 | $1.66 | $11,832,572,680 | 12 / 7 |
| 2026-07-31 | $1.72 | $11,805,601,257 | 7 / 6 |
| 2026-08-01 | $1.72 | $11,805,601,257 | 7 / 6 |
| 2026-08-02 | $1.66 | $11,832,572,680 | 12 / 7 |
| 2026-08-03 | $1.66 | $11,832,572,680 | 12 / 7 |
| 2026-08-04 | $1.72 | $11,805,601,257 | 7 / 6 |
| 2026-08-05 | $1.66 | $11,832,572,680 | 12 / 7 |
| 2026-08-06 | $1.72 | $11,805,601,257 | 7 / 6 |
| 2026-08-07 | $1.72 | $11,831,351,099 | 7 / 6 |
| 2026-08-08 | $1.71 | $11,882,029,830 | 12 / 7 |
| 2026-08-09 | $1.71 | $11,882,029,830 | 12 / 7 |
| 2026-08-10 | $1.71 | $11,882,029,830 | 12 / 7 |
| 2026-08-11 | $1.72 | $11,831,351,099 | 7 / 6 |
| 2026-08-12 | $1.72 | $11,831,351,099 | 7 / 6 |
| 2026-08-13 | $1.72 | $11,917,012,830 | 12 / 7 |
| 2026-08-14 | $1.72 | $11,831,351,099 | 7 / 6 |
| 2026-08-15 | $1.72 | $11,831,351,099 | 7 / 6 |
| 2026-08-16 | $1.72 | $11,831,351,099 | 7 / 6 |
| 2026-08-17 | $1.72 | $11,831,351,099 | 7 / 6 |
| 2026-08-18 | $1.72 | $11,831,351,099 | 7 / 6 |
| 2026-08-19 | $1.72 | $11,831,351,099 | 7 / 6 |
| 2026-08-20 | $1.73 | $11,869,008,151 | 7 / 7 |
| 2026-08-21 | $1.73 | $11,869,008,151 | 7 / 7 |
| 2026-08-22 | $1.73 | $11,869,008,151 | 7 / 7 |
| 2026-08-23 | $1.73 | $11,869,008,151 | 7 / 7 |
| 2026-08-24 | $1.73 | $11,869,008,151 | 7 / 7 |
| 2026-08-25 | $1.73 | $11,869,008,151 | 7 / 7 |
| 2026-08-26 | $1.73 | $11,869,008,151 | 7 / 7 |
| 2026-08-27 | $1.73 | $11,869,008,151 | 7 / 7 |
| 2026-08-28 | $1.73 | $11,869,008,151 | 7 / 7 |
| 2026-08-29 | $1.72 | $11,885,445,363 | 7 / 7 |
| 2026-08-30 | $1.72 | $11,885,445,363 | 7 / 7 |
| 2026-08-31 | $1.72 | $11,885,445,363 | 7 / 7 |
| 2026-09-01 | $1.72 | $11,885,445,363 | 7 / 7 |
| 2026-09-02 | $1.72 | $11,885,445,363 | 7 / 7 |
| 2026-09-03 | $1.73 | $11,885,445,363 | 7 / 7 |
| 2026-09-04 | $1.72 | $11,885,445,363 | 7 / 7 |
| 2026-09-05 | $1.72 | $11,885,445,363 | 7 / 7 |
| 2026-09-06 | $1.72 | $11,885,445,363 | 7 / 7 |
| 2026-09-07 | $1.72 | $11,885,445,363 | 7 / 7 |
| 2026-09-08 | $1.72 | $11,885,445,363 | 7 / 7 |
| 2026-09-09 | $1.72 | $11,885,445,363 | 7 / 7 |
| 2026-09-10 | $1.72 | $11,885,445,363 | 7 / 7 |
| 2026-09-11 | $1.72 | $11,885,445,363 | 7 / 7 |
| 2026-09-12 | $1.72 | $11,885,445,363 | 7 / 7 |
| 2026-09-13 | $1.72 | $11,885,445,363 | 7 / 7 |
| 2026-09-14 | $1.72 | $11,885,445,363 | 7 / 7 |
| 2026-09-15 | $1.72 | $11,885,445,363 | 7 / 7 |
| 2026-09-16 | $1.72 | $11,885,445,363 | 7 / 7 |
| 2026-09-17 | $1.72 | $11,885,445,363 | 7 / 7 |
| 2026-09-18 | $1.72 | $11,885,445,363 | 7 / 7 |
| 2026-09-19 | $1.72 | $11,885,445,363 | 7 / 7 |
| 2026-09-20 | $1.72 | $11,885,445,363 | 7 / 7 |
| 2026-09-21 | $1.72 | $11,885,445,363 | 7 / 7 |
| 2026-09-22 | $1.72 | $11,885,445,363 | 7 / 7 |
| 2026-09-23 | $1.72 | $11,885,445,363 | 7 / 7 |
| 2026-09-24 | $1.72 | $11,885,445,363 | 7 / 7 |
| 2026-09-25 | $1.72 | $11,885,445,363 | 7 / 7 |
| 2026-09-26 | $1.72 | $11,885,445,363 | 7 / 7 |
| 2026-09-27 | $1.72 | $11,885,445,363 | 7 / 7 |
| 2026-09-28 | $1.72 | $11,885,445,363 | 7 / 7 |
| 2026-09-29 | $1.72 | $11,885,445,363 | 7 / 7 |
| 2026-09-30 | $1.72 | $11,885,445,363 | 7 / 7 |
| 2026-10-01 | $1.72 | $11,885,445,363 | 7 / 7 |
| 2026-10-02 | $1.72 | $11,885,445,363 | 7 / 7 |
| 2026-10-03 | $1.72 | $11,885,445,363 | 7 / 7 |
| 2026-10-04 | $1.72 | $11,885,445,363 | 7 / 7 |
| 2026-10-05 | $1.72 | $11,885,445,363 | 7 / 7 |
| 2026-10-06 | $1.72 | $11,885,445,363 | 7 / 7 |
| 2026-10-07 | $1.72 | $11,885,445,363 | 7 / 7 |
| 2026-10-08 | $1.72 | $11,885,445,363 | 7 / 7 |
| 2026-10-09 | $1.72 | $11,885,445,363 | 7 / 7 |
| 2026-10-10 | $1.72 | $11,885,445,363 | 7 / 6 |
| 2026-10-11 | $1.72 | $11,885,445,363 | 7 / 6 |
| 2026-10-12 | $1.72 | $11,885,445,363 | 7 / 6 |
| 2026-10-13 | $1.72 | $11,885,445,363 | 7 / 6 |
| 2026-10-14 | $1.72 | $11,885,445,363 | 7 / 6 |
| 2026-10-15 | $1.71 | $11,838,098,050 | 7 / 6 |
| 2026-10-16 | $1.71 | $11,838,098,050 | 7 / 6 |
| 2026-10-17 | $1.71 | $11,838,098,050 | 7 / 6 |
| 2026-10-18 | $1.70 | $11,822,377,936 | 7 / 6 |
| 2026-10-19 | $1.70 | $11,822,377,936 | 7 / 6 |
| 2026-10-20 | $1.69 | $11,822,377,936 | 7 / 6 |
| 2026-10-21 | $1.69 | $11,822,377,936 | 7 / 6 |
| 2026-10-22 | $1.69 | $11,822,377,936 | 7 / 6 |
| 2026-10-23 | $1.66 | $11,821,242,200 | 7 / 6 |
| 2026-10-24 | $1.66 | $11,821,242,200 | 7 / 6 |
| 2026-10-25 | $1.66 | $11,821,242,200 | 7 / 6 |
| 2026-10-26 | $1.66 | $11,821,242,200 | 7 / 7 |
| 2026-10-27 | $1.66 | $11,821,242,200 | 7 / 7 |
| 2026-10-28 | $1.66 | $11,821,242,200 | 7 / 7 |
| 2026-10-29 | $1.66 | $11,821,242,200 | 7 / 7 |
| 2026-10-30 | $1.66 | $11,821,242,200 | 7 / 7 |
| 2026-10-31 | $1.66 | $11,821,242,200 | 7 / 7 |
| 2026-11-01 | $1.66 | $11,821,242,200 | 7 / 7 |
| 2026-11-02 | $1.66 | $11,821,242,200 | 7 / 7 |
| 2026-11-03 | $1.66 | $11,821,242,200 | 7 / 7 |
| 2026-11-04 | $1.66 | $11,821,242,200 | 7 / 7 |
Revenue and EPS estimates track expectations. They are not delivered results or like-for-like proof of a required annual path.
Latest: 8 Buy / Strong Buy · 5 Hold · 0 Sell / Strong Sell
Recent actions · Oct 6–Nov 4 · 2 recorded
Individual price-target observations are unavailable.
0 raises · 0 cuts · 0 unchanged · 0 without a comparable prior
Oct 6, 2026–Nov 4, 2026. Each firm's latest positive target is paired only with its immediately prior positive target from the same provider, at most 180 days earlier. Unmatched observations have one dot; conflicting observations are not compared.
Next earnings date unavailable
Look for updated results and guidance against the published targets, plus direct evidence for unresolved drivers.
Review earnings4 of 4 published conditions remain under pressure or need verification. The next results need to address those conditions.
The dated weekly assessment and its assumptions are available in Read detailed Outlook.