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Cushman & Wakefield CWK APAC — Other direct costs

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Other financials

Income statement

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Revenue$2.8B+11.2%
Gross profit$512.0M+9.6%
Operating income$134.2M+9.3%
Net income$52.7M-8.0%
EPS (diluted)$0.22-12.0%

Balance sheet

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Cash & equivalents$518.7M-19.7%
Total debt$3.1B-5.9%
Total equity$2.0B+6.2%
Total assets$7.6B0.0%

Cash flow

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Operating cash flow-$243.5M-50.3%
CapEx$8.5M-8.6%
Free cash flow-$255.7M-53.5%

Valuation

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Market cap$3.12B-0.3%
Enterprise value$5.67B-1.3%
P/E21×
P/S0.3×0.0×

Profitability

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Gross margin18.1%-0.5pp
Operating margin4.4%+0.1pp
Net margin2.2%
FCF margin1.9%+0.5pp

Returns & leverage

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Return on equity12.2%
Debt / equity1.5×-0.2×
Current ratio1.1×-0.1×

Where this comes from

Reported directly by Cushman & Wakefield in its filing.

Tagged under the XBRL concept cwk:CostsDirectOther.

The source filing: Cushman & Wakefield’s 10-Q, filed August 5, 2026.

Filed
Aug 5, 2026, 4:17 PM EDT
Fiscal quarter
Q2 FY2026
Calendar quarter
Q2 2026
Accession
0001628369-26-000118
Line itemAmericasEMEAAPACTotal
Less:
Gross contract costs882.552.0192.21,126.7
Direct employment costs714.7110.6114.2939.5
Other direct costs47.542.094.9184.4
Indirect and overhead employment costs126.833.235.8195.8
Other indirect and overhead costs105.030.917.6153.5
Add: Other segment items(1)14.71.64.620.9
Adjusted EBITDA$136.0$28.0$19.6$183.6

Item 1. Financial Statements.

FAQ

What is Cushman & Wakefield's APAC — other direct costs?
Cushman & Wakefield (CWK) reported APAC — other direct costs of $94.9M in Q2 2026.
How has Cushman & Wakefield's APAC — other direct costs changed year-over-year?
Cushman & Wakefield's APAC — other direct costs increased by 35.8% year-over-year, from $69.9M to $94.9M.
What is the long-term trend for Cushman & Wakefield's APAC — other direct costs?
Over 3 years (2022 to 2025), Cushman & Wakefield's APAC — other direct costs has grown at a 1.4% compound annual growth rate (CAGR), from $397.3M to $413.8M.
What does APAC — other direct costs mean?
Encompasses all operational expenses directly attributable to the delivery of services in the Asia Pacific region, excluding employment costs and reimbursables. Monitoring these costs helps assess the variable cost efficiency of regional service operations.

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