Cushman & Wakefield stock: fair value
CWKThe fair value of Cushman & Wakefield under our model is $7.56, the price is 78% above.
The fair value is an estimate from our model, not a price target.
Daily figure as of 13 Nov 2026
Valuation signal
Significantly overvaluedIn our model the price counts as cheap below $5.40 and expensive above $12.60 (uncertainty high, based on the price swings of the past year).
The two parts of the fair value come to $11.17 (cash-flow model) and $3.95 (industry comparison), and the gap between them shows how uncertain the estimate is. The price is above both.
Calculated with a cost of equity of 12.4%. At 13.4% the fair value would be $7.00, at 11.4% it would be $8.27.
Where the number comes from
Half from the cash-flow model, half from earnings times the industry P/E (13.4).
Ten-year cash-flow model from smoothed free cash flow and its past growth until it reaches 3.8%. Discounted at 12.4% (government bond yield 3.8% plus beta 1.93 times a risk premium of 4.5%); no analyst estimates were available.
Calculate with your own assumptionsThe calculation step by step
With these figures the cash flow model arrives at $11.17 per share: free cash flow for the next ten years, each year discounted to today at 12.4%, plus the terminal value for the years after. The table explains the calculation; it is not a recommendation.
Calculation as a table
| Year | Free cash flow | Source | Discount factor | Present value (discounted at 12.4%) |
|---|---|---|---|---|
| 2026 | $274.25M | extrapolated at −6.7% | 0.8893 | $243.9M |
| 2027 | $264.55M | extrapolated at −3.5% | 0.7909 | $209.24M |
| 2028 | $261.03M | extrapolated at −1.3% | 0.7034 | $183.61M |
| 2029 | $261.61M | extrapolated at 0.2% | 0.6256 | $163.66M |
| 2030 | $265.01M | extrapolated at 1.3% | 0.5564 | $147.44M |
| 2031 | $270.48M | extrapolated at 2.1% | 0.4948 | $133.83M |
| 2032 | $277.49M | extrapolated at 2.6% | 0.4400 | $122.1M |
| 2033 | $285.71M | extrapolated at 3.0% | 0.3913 | $111.81M |
| 2034 | $294.92M | extrapolated at 3.2% | 0.3480 | $102.64M |
| 2035 | $304.96M | extrapolated at 3.4% | 0.3095 | $94.39M |
| Step | Value |
|---|---|
| Sum of present values (ten years) | $1.51B |
| Terminal value: cash flow 2035 × (1 + 3.8%) / (12.4% − 3.8%) | $3.68B |
| Present value of terminal value (× 0.3095) | $1.14B |
| Equity value (sum plus present value of terminal value) | $2.65B |
| Shares (diluted) | 237.20M |
| Value per share (equity value divided by shares) | $11.17 |
| Earnings per share, last twelve months | $0.29 |
| × 13.4 (industry P/E) | $3.95 |
| Fair value (average of both parts) | $7.56 |
The model uses free cash flow after interest, which belongs to shareholders, discounted at the cost of equity. Net debt is therefore not deducted again.
Data status and sources
- Score
- Daily value of 13 Nov 2026, recalculated nightly
- Price
- Closing price of 12 Nov 2026
- Latest annual report
- Fiscal year 2025, period end 31 Dec 2025
- Source
- Financial statements, ratios and prices from Financial Modeling Prep (FMP), based on the company's reports. MEQIRI calculates the score and fair value from them.
Mandatory disclosures for this rating
- ; time horizon around 12 months
- Rated Weak, published since 7 Nov 2026 (in the score history since 13 Feb 2026)
- Valuation signal Overvalued since 7 Nov 2026
- End-of-day prices, metrics cached for up to 24 hours
- Score and fair value are estimates from a disclosed model. They are not facts and not a price target.
- Produced by SSM Ventures UG (haftungsbeschränkt), responsible person Sven Brostmeyer, Managing Director, automatically according to the disclosed model.
- Not investment advice. Losses up to and including a total loss are possible. Personal circumstances are not considered.