Cushman & Wakefield (CWK) Operating Expenses (2017 - 2026)
Cushman & Wakefield (CWK) recorded Operating Expenses of $2.63 billion in Q2 2026, up 11.3% from $2.36 billion a year earlier and up 6.1% from the prior quarter.
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Analysis
Cushman & Wakefield (CWK) Operating Expenses (2017 - 2026) Analysis & Trends
On a TTM basis, Cushman & Wakefield's Operating Expenses came in at $10.34 billion as of Jun 30, 2026, up 10.9% year-over-year; for FY2025, it was $9.84 billion, up 8.0% from FY2024.
- Annual Operating Expenses has a five-year compound annual growth rate of 4.5% (FY2020 to FY2025).
- Across earlier years, Operating Expenses came in at $9.11 billion in FY2024 (-1.9%), $9.29 billion in FY2023 (-3.0%), $9.57 billion in FY2022 (+7.6%) and $8.89 billion in FY2021 (+12.6%).
- Quarterly Operating Expenses has ranged from $2.17 billion in Q1 2024 to $2.74 billion in Q4 2025 over the past five years.
- On a year-over-year basis, Operating Expenses has increased for eight consecutive quarters, with growth averaging 7.0% over the last eight quarters.
- Peak year-over-year performance for Operating Expenses in the last five years was growth of 21.0% in Q4 2021, against a decline of 7.3% in Q3 2023 at the low end.
- Per Business Quant, the preceding three quarters came in at $2.48 billion (Q1 2026), $2.74 billion (Q4 2025) and $2.5 billion (Q3 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Opex (Qtr) |
|---|---|---|---|---|---|
| 1 | KE Holdings | 38.10 Bn | 18.80 Bn | 1.03 Bn | -587.69 Mn |
| 2 | Cbre | 37.79 Bn | 31.56 Bn | 2.09 Bn | - |
| 3 | Jones Lang Lasalle | 14.45 Bn | 12.66 Bn | - | 6.64 Bn |
| 4 | Compass | 6.85 Bn | 5.32 Bn | - | 4.18 Bn |
| 5 | Colliers International | 4.59 Bn | 3.67 Bn | 635.11 Mn | 485.10 Mn |
| 6 | Cushman & Wakefield | 2.78 Bn | 264.20 Mn | 512.00 Mn | 2.63 Bn |
| 7 | Newmark | 1.99 Bn | 1.37 Bn | - | 848.02 Mn |
| 8 | Marcus & Millichap | 1.10 Bn | 194.81 Mn | - | 200.70 Mn |
| 9 | Rmr | 593.80 Mn | 518.26 Mn | - | 162.79 Mn |
| 10 | Agnt | 586.58 Mn | 116.27 Mn | 98.80 Mn | 97.16 Mn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 2.63 Bn |
| Mar 31, 2026 | 2.48 Bn |
| Dec 31, 2025 | 2.74 Bn |
| Sep 30, 2025 | 2.50 Bn |
| Jun 30, 2025 | 2.36 Bn |
| Mar 31, 2025 | 2.24 Bn |
| Dec 31, 2024 | 2.46 Bn |
| Sep 30, 2024 | 2.27 Bn |
| Jun 30, 2024 | 2.22 Bn |
| Mar 31, 2024 | 2.17 Bn |
| Dec 31, 2023 | 2.44 Bn |
| Sep 30, 2023 | 2.23 Bn |
| Jun 30, 2023 | 2.35 Bn |
| Mar 31, 2023 | 2.27 Bn |
| Dec 31, 2022 | 2.54 Bn |
| Sep 30, 2022 | 2.40 Bn |
| Jun 30, 2022 | 2.44 Bn |
| Mar 31, 2022 | 2.20 Bn |
| Dec 31, 2021 | 2.63 Bn |
| Sep 30, 2021 | 2.20 Bn |
API Access
Cushman & Wakefield Operating Expenses API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=operating-expenses&ticker=CWK&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "operating-expenses", "ticker": "CWK", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=operating-expenses&ticker=CWK&period=max&api_key=YOUR_API_KEY");
const data = await res.json();