Cushman & Wakefield Limited
Cash Flow Statement
| Line Item | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 |
|---|---|---|---|---|---|---|---|---|
| Operating Activities | ||||||||
| Net Income | $88.2M | $131.3M | $-35.4M | $196.4M | $250.0M | $-220.5M | $200.0K | $-185.8M |
| Depreciation & Amortization | $104.2M | $122.2M | $145.6M | $146.9M | $172.1M | $263.6M | $296.7M | $290.0M |
| Depreciation | $64.6M | $76.3M | $81.4M | $82.8M | $105.9M | $118.7M | $109.4M | $105.8M |
| Amortization | $39.6M | $45.9M | $64.2M | $64.1M | $66.2M | $144.9M | $187.3M | $184.2M |
| Stock-Based Compensation | $58.2M | $35.6M | $54.1M | $40.3M | $58.2M | $42.0M | $61.3M | $81.9M |
| Net Cash from Operating Activities | $340.4M | $208.0M | $152.2M | $49.1M | $549.5M | $-38.2M | $269.3M | $-2.2M |
| Investing Activities | ||||||||
| Capital Expenditures | $47.4M | $41.0M | $51.0M | $50.7M | $53.8M | $41.0M | $80.3M | $84.2M |
| Business Acquisitions | $4.9M | $0 | $0 | $32.8M | $7.0M | $108.7M | $275.9M | $35.5M |
| Net Cash from Investing Activities | $-21.1M | $81.2M | $48.9M | $-120.7M | $-749.5M | $-257.8M | $-274.9M | $-218.0M |
| Financing Activities | ||||||||
| Dividends Paid | — | — | — | — | — | — | — | — |
| Stock Repurchases | — | — | — | — | — | — | — | — |
| Net Cash from Financing Activities | $-350.5M | $-253.4M | $-120.8M | $-79.3M | $-65.8M | $571.9M | $-89.6M | $725.9M |
| Net Change in Cash | — | — | — | $-150.9M | $-265.8M | $275.9M | $-95.2M | $505.7M |
| Free Cash Flow | $293.0M | $167.0M | $101.2M | $-1.6M | $495.7M | $-79.2M | $189.0M | $-86.4M |