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Cushman & Wakefield CWK Americas — Direct employment costs

Other segment segments

APAC
$110.1M+11.2%
EMEA
$107.1M+16.5%

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TDWAmericas1 — Cost Direct Labor
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$247.07M+7.3%
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ACNAmericas — Payroll costs
$5.63B+1.2%
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EPAMAmericas — Cost of revenues (exclusive of depreciation and amortization)
$549.91M-0.2%

Other financials

Income statement

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Revenue$2.5B+11.0%
Gross profit$420.7M+9.5%
Operating income$58.7M+29.6%
Net income-$12.6M-763%
EPS (diluted)-$0.05-600%

Balance sheet

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Cash & equivalents$619.5M-3.2%
Total debt$3.2B-4.5%
Total equity$2.0B+9.9%
Total assets$7.6B+3.2%

Cash flow

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Operating cash flow-$243.5M-50.3%
CapEx$12.2M+165%
Free cash flow-$255.7M-53.5%

Valuation

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Market cap$3B+21.1%
Enterprise value$5.53B+7.3%
P/E30.6×
P/S0.3×0.0×

Profitability

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Gross margin18.2%-0.2pp
Operating margin4.4%+0.6pp
Net margin2.2%
FCF margin1.9%+0.5pp

Returns & leverage

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Return on equity12.2%
Debt / equity1.6×-0.2×
Current ratio1.1×0.0×

Where this comes from

Reported directly by Cushman & Wakefield in its filing.

Tagged under the XBRL concept us-gaap:CostDirectLabor.

The official record: Cushman & Wakefield ’s 10-Q, filed May 7, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is Cushman & Wakefield 's americas — direct employment costs?
Cushman & Wakefield (CWK) reported americas — direct employment costs of $623M in Q1 2026.
How has Cushman & Wakefield 's americas — direct employment costs changed year-over-year?
Cushman & Wakefield 's americas — direct employment costs increased by 12.0% year-over-year, from $556.2M to $623M.
What is the long-term trend for Cushman & Wakefield 's americas — direct employment costs?
Over 3 years (2022 to 2025), Cushman & Wakefield 's americas — direct employment costs has grown at a -1.4% compound annual growth rate (CAGR), from $3.23B to $3.09B.
What does americas — direct employment costs mean?
Captures the total compensation and benefits paid to personnel directly involved in delivering client-facing services within the Americas segment. This is a critical component of the cost structure that directly correlates with the firm's ability to scale service delivery capacity.