Company Valuation: Cushman & Wakefield Limited

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Capitalization 1 4,970 2,813 2,454 3,002 3,750 3,048 - -
Change - -43.4% -12.75% 22.3% 24.92% -18.7% - -
Enterprise Value (EV) 1 7,462 5,430 4,933 5,251 5,682 4,983 4,843 4,694
Change - -27.23% -9.15% 6.45% 8.21% -12.3% -2.81% -3.08%
P/E ratio 20.2x 14.5x -67.5x 23.4x 42.6x 10.1x 8.35x 7.68x
PBR 3.44x 1.69x 1.46x 1.71x 1.9x 1.31x 1.11x 0.95x
PEG - -0.7x 1x -0x -1.3x 0x 0.4x 0.88x
Capitalization / Revenue 0.53x 0.28x 0.26x 0.32x 0.36x 0.28x 0.26x 0.25x
EV / Revenue 0.79x 0.54x 0.52x 0.56x 0.55x 0.46x 0.42x 0.39x
EV / EBITDA 8.42x 6.04x 8.65x 9.02x 8.66x 6.78x 5.95x 5.3x
EV / EBIT 10.4x 10.1x 24x 15.5x 12.6x 8.82x 7.6x 6.69x
EV / FCF 15.1x -3,394x 48.7x 31.4x 19.4x 21.1x 16.6x 13.4x
FCF Yield 6.64% -0.03% 2.05% 3.18% 5.16% 4.74% 6.01% 7.47%
Dividend per Share 2 - - - - - - - -
Rate of return - - - - - - - -
EPS 2 1.1 0.86 -0.16 0.56 0.38 1.305 1.575 1.713
Distribution rate - - - - - - - -
Net sales 1 9,389 10,106 9,494 9,446 10,288 10,855 11,522 12,114
EBITDA 1 886.4 898.8 570.1 581.9 656.2 735.2 814 885.1
EBIT 1 714.3 535.1 205.6 338.9 452.5 565.1 637 701.5
Net income 1 250 196.4 -35.4 131.3 88.2 292.3 377.7 405.2
Net Debt 1 2,492 2,617 2,479 2,250 1,932 1,935 1,795 1,646
Reference price 2 22.24 12.46 10.80 13.08 16.19 13.15 13.15 13.15
Nbr of stocks (in thousands) 223,469 225,757 227,253 229,487 231,605 231,822 - -
Announcement Date 2/24/22 2/23/23 2/20/24 2/20/25 2/19/26 - - -
1USD in Million2USD
Estimates

P/E ratio, Detailed evolution

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
10.08x0.46x6.78x-.--% 3.05B
22.13x1x12.05x-.--% 41.11B
37.72x0.62x9.55x1.45% 18.17B
15.05x0.55x9.43x-.--% 14.99B
23.94x4.68x15.92x4.09% 14.11B
20.59x8.94x16.56x4.31% 10.93B
58.39x2.84x10.91x-.--% 9.75B
38.47x1.26x12.33x0.81% 6.7B
32.35x1.18x9x0.28% 5.7B
36.41x14.97x - 1.74% 4.6B
Average 29.51x 3.65x 11.39x 1.27% 12.91B
Weighted average by Cap. 27.83x 2.62x 11.86x 1.13%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA

Year-on-year evolution of the Yield

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