| Metric | Value ($ M) | Q2 FY25 | Q3 FY24 |
|---|---|---|---|
| Revenue | 2.6K | 4.9% | 11.2% |
| Total Income | 2.6K | 4.9% | 11.2% |
| Expenditure | 2.5K | 5.8% | 10.1% |
| PBT | 45.10 | 40.8% | 14.9% |
| Net Profit | 51.40 | 10.3% | 52.5% |
| OPM | 4.13% | 0.82pp | 0.92pp |
| NPM | 1.97% | 0.33pp | 0.53pp |
| EPS | 0.22 | 12.0% | 46.7% |
Cushman & Wakefield Reports Q3 2025 Revenue of $2.6 Billion, Up 11%
04 May 2026 · 4 May, 8:28 am
Summary
Cushman & Wakefield reported an 11% increase in revenue to $2.6 billion for the third quarter of 2025. Service line fee revenue increased by 9% to $1.8 billion, with Capital markets revenue showing a strong 21% increase. Net income rose to $51.4 million, a $17.7 million increase from the previous year. The company also prepaid $100 million in debt, bringing the two-year total to $500 million. Full year Adjusted EPS guidance was raised to 30%-35% growth.
Key Highlights
- 1
Cushman & Wakefield's revenue for the third quarter of 2025 increased by 11% to $2.6 billion.
- 2
Service line fee revenue for Q3 2025 increased by 9% to $1.8 billion.
- 3
Capital markets revenue increased by 21% in the third quarter of 2025, driven by strong performance in the Americas.
- 4
Net income for the third quarter of 2025 increased by $17.7 million to $51.4 million.
- 5
Adjusted EBITDA for the third quarter of 2025 increased by 12% to $159.6 million.
- 6
The company prepaid an additional $100 million in term loan debt in October 2025, bringing two-year cumulative debt prepayments to $500 million.
- 7
Full year 2025 Adjusted EPS guidance was raised to 30%-35% growth.
Management Comments
Michelle MacKay
“We continued to drive strong growth across our platform, as the multiplier effect around our transformational growth strategy propels us forward. In the third quarter of 2025, we reported 9% service line fee revenue growth, achieving our fourth consecutive quarter of double-digit Capital markets revenue growth and accelerating organic Services revenue growth to 7%. Following record third quarter cash flow generation, we prepaid an additional $100 million in debt yesterday, bringing our two-year cumulative debt prepayments to $500 million. Our teams are operating with discipline and precision, more fully integrated across our business and anchored in our commitment to providing clients best-in-class advisory services.”
Informational and educational content only. Not investment advice.