CBRE · Cbre Group, Inc. - Financials
Annual line items from SEC XBRL filings, sourced from EDGAR's Company Facts API with fallback to the quarterly Financial Statement Data Sets. See issuer overview for Form 4 activity and 10-K signals.
Income Statement
| Line item | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $10.53B | - | $10.26B | $9.75B | $8.91B | - | $9.04B | $8.39B | $7.93B | - |
| Cost of Revenue | $8.68B | - | $8.30B | $7.94B | $7.26B | - | $7.25B | $6.79B | $6.47B | - |
| Gross Profit | $1.85B | - | $1.95B | $1.81B | $1.65B | - | $1.78B | $1.60B | $1.46B | - |
| R&D | - | - | - | - | - | - | - | - | - | - |
| SG&A | - | - | - | - | - | - | - | - | - | - |
| Total Operating Expenses | - | - | - | - | - | - | - | - | - | - |
| D&A | $182.00M | - | $181.00M | $182.00M | $177.00M | - | $178.00M | $161.00M | $158.00M | - |
| Operating Income | $511.00M | - | $481.00M | $374.00M | $276.00M | - | $368.00M | $246.00M | $204.00M | - |
| Interest Expense | - | - | - | - | - | - | - | - | - | - |
| Income Tax | $112.00M | - | $91.00M | $61.00M | $52.00M | - | $67.00M | $32.20M | ($28.90M) | - |
| Net Income | $318.00M | - | $363.00M | $215.00M | $163.00M | - | $225.00M | $130.00M | $126.00M | - |
| EPS - Basic | $1.08 | - | $1.22 | $0.72 | $0.54 | - | $0.73 | $0.42 | $0.41 | - |
| EPS - Diluted | $1.07 | - | $1.21 | $0.72 | $0.54 | - | $0.73 | $0.42 | $0.41 | - |
Balance Sheet
| Line item | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $1.66B | $1.86B | $1.67B | $1.40B | $1.38B | $1.11B | $1.02B | $928.00M | $1.04B | $1.26B |
| Accounts Receivable | $8.40B | $8.28B | $7.56B | $7.32B | $6.75B | $7.00B | $6.71B | $6.30B | $6.17B | $6.37B |
| Inventory | - | - | - | - | - | - | - | - | - | - |
| Accounts Payable | - | - | - | - | - | - | - | - | - | - |
| Current Assets | $12.73B | $13.49B | $12.57B | $11.96B | $10.83B | $9.97B | $10.62B | $9.65B | $9.44B | $9.67B |
| Total Assets | $30.17B | $30.88B | $28.57B | $27.69B | $26.37B | $24.38B | $24.84B | $23.46B | $22.96B | $22.55B |
| Current Liabilities | $11.75B | $12.32B | $11.15B | $10.62B | $10.87B | $9.29B | $9.43B | $8.63B | $8.23B | $8.24B |
| Long-term Debt | $5.02B | $5.05B | $4.32B | $4.34B | $3.21B | $3.25B | $3.28B | $3.27B | $3.28B | $2.80B |
| Total Liabilities | $20.86B | $21.25B | $19.27B | $18.70B | $17.36B | $15.19B | $15.29B | $14.27B | $13.87B | $13.48B |
| Stockholders' Equity | $8.52B | $8.88B | $8.54B | $8.25B | $8.28B | $8.41B | $8.69B | $8.36B | $8.26B | $8.27B |
| Retained Earnings | $9.68B | $9.92B | $9.77B | $9.39B | $9.39B | $9.57B | $9.58B | $9.38B | $9.26B | $9.19B |
Cash Flow
| Line item | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | ($825.00M) | - | - | - | ($546.00M) | - | - | - | ($492.00M) | - |
| Investing Cash Flow | $64.00M | - | - | - | ($462.00M) | - | - | - | ($900.00M) | - |
| Financing Cash Flow | $545.00M | - | - | - | $1.26B | - | - | - | $1.19B | - |
| CapEx | $81.00M | - | - | - | $64.00M | - | - | - | $68.00M | - |
| Free Cash Flow | ($906.00M) | - | - | - | ($610.00M) | - | - | - | ($560.00M) | - |
Ratios
| Metric | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Profitability | ||||||||||
| Gross margin | 17.6% | - | 19.0% | 18.6% | 18.5% | - | 19.7% | 19.0% | 18.4% | - |
| Operating margin | 4.9% | - | 4.7% | 3.8% | 3.1% | - | 4.1% | 2.9% | 2.6% | - |
| EBITDA margin | 6.6% | - | 6.5% | 5.7% | 5.1% | - | 6.0% | 4.9% | 4.6% | - |
| Net margin | 3.0% | - | 3.5% | 2.2% | 1.8% | - | 2.5% | 1.5% | 1.6% | - |
| Free cash flow margin | -8.6% | - | - | - | -6.8% | - | - | - | -7.1% | - |
| FCF / Net income | -2.85 | - | - | - | -3.74 | - | - | - | -4.44 | - |
| R&D / Revenue | - | - | - | - | - | - | - | - | - | - |
| SG&A / Revenue | - | - | - | - | - | - | - | - | - | - |
| Effective tax rate | 26.0% | - | 20.0% | 22.1% | 24.2% | - | 22.9% | 19.9% | -29.8% | - |
| Return on assets | 1.1% | - | 1.3% | 0.8% | 0.6% | - | 0.9% | 0.6% | 0.5% | - |
| Return on equity | 3.7% | - | 4.3% | 2.6% | 2.0% | - | 2.6% | 1.6% | 1.5% | - |
| Return on invested capital | 2.8% | - | 3.0% | 2.3% | 1.8% | - | 2.4% | 1.7% | 1.8% | - |
| Liquidity | ||||||||||
| Current ratio | 1.08 | 1.09 | 1.13 | 1.13 | 1.00 | 1.07 | 1.13 | 1.12 | 1.15 | 1.17 |
| Quick ratio | 1.08 | 1.09 | 1.13 | 1.13 | 1.00 | 1.07 | 1.13 | 1.12 | 1.15 | 1.17 |
| Cash ratio | 0.14 | 0.15 | 0.15 | 0.13 | 0.13 | 0.12 | 0.11 | 0.11 | 0.13 | 0.15 |
| Leverage | ||||||||||
| Debt / Equity | 0.59 | 0.57 | 0.51 | 0.53 | 0.39 | 0.39 | 0.38 | 0.39 | 0.40 | 0.34 |
| Debt / Assets | 0.17 | 0.16 | 0.15 | 0.16 | 0.12 | 0.13 | 0.13 | 0.14 | 0.14 | 0.12 |
| Debt / EBITDA | 7.25 | - | 6.53 | 7.81 | 7.08 | - | 6.00 | 8.04 | 9.07 | - |
| Interest coverage | - | - | - | - | - | - | - | - | - | - |
| Equity multiplier | 3.54 | 3.48 | 3.35 | 3.36 | 3.18 | 2.90 | 2.86 | 2.81 | 2.78 | 2.73 |
| Liabilities / Assets | 0.69 | 0.69 | 0.67 | 0.68 | 0.66 | 0.62 | 0.62 | 0.61 | 0.60 | 0.60 |
| Efficiency | ||||||||||
| Asset turnover | 0.35 | - | 0.36 | 0.35 | 0.34 | - | 0.36 | 0.36 | 0.35 | - |
| Inventory turnover | - | - | - | - | - | - | - | - | - | - |
| Days sales outstanding | 291d | - | 269d | 274d | 277d | - | 271d | 274d | 284d | - |
| Days inventory outstanding | - | - | - | - | - | - | - | - | - | - |
| Days payable outstanding | - | - | - | - | - | - | - | - | - | - |
| Cash conversion cycle | - | - | - | - | - | - | - | - | - | - |
| Valuation | ||||||||||
| P / E | 126.6x | - | 130.2x | 194.6x | 242.2x | - | 170.5x | 212.2x | 237.2x | - |
| P / B | 4.7x | - | 5.5x | 5.1x | 4.8x | - | 4.4x | 3.3x | 3.6x | - |
| P / S | 3.8x | - | 4.6x | 4.3x | 4.4x | - | 4.2x | 3.3x | 3.8x | - |
| EV / EBITDA | 62.9x | - | 75.5x | 80.9x | 91.5x | - | 74.4x | 73.2x | 89.1x | - |
| Growth | ||||||||||
| Revenue growth (YoY) | 18.1% | - | 13.5% | 16.2% | 12.3% | - | 14.8% | 8.7% | 7.1% | - |
| Revenue CAGR (3y) | 12.4% | - | 10.9% | 7.9% | 6.7% | - | 9.9% | 9.1% | 10.1% | - |
| Revenue CAGR (5y) | 12.1% | - | 12.7% | 12.6% | 8.6% | - | 8.8% | 8.0% | 9.1% | - |
| Gross profit growth (YoY) | 12.6% | - | 9.5% | 13.4% | 12.7% | - | 21.3% | 3.7% | 3.9% | - |
| Operating income growth (YoY) | 85.1% | - | 30.7% | 52.0% | 35.3% | - | 36.6% | -19.7% | 446.0% | - |
| Net income growth (YoY) | 95.1% | - | 61.3% | 65.4% | 29.4% | - | 18.1% | -35.5% | 7.8% | - |
| EPS growth (YoY) | 98.1% | - | 65.8% | 71.4% | 31.7% | - | 19.7% | -34.4% | 10.8% | - |
| EPS CAGR (3y) | 42.5% | - | -4.3% | -21.4% | -22.5% | - | -17.1% | -31.4% | -19.3% | - |
| EPS CAGR (5y) | 6.5% | - | 17.1% | 24.6% | 1.1% | - | -0.5% | -8.6% | -3.1% | - |
| FCF growth (YoY) | -48.5% | - | - | - | -8.9% | - | - | - | 30.4% | - |
| FCF CAGR (5y) | - | - | - | - | - | - | - | - | - | - |
| Book value growth (YoY) | 2.9% | 5.6% | -1.8% | -1.2% | 0.3% | 1.7% | 13.1% | 3.2% | 5.1% | 5.3% |
Sales by segment
From XBRL dimensional facts in the 10-K period ending 2025-12-31.
Business segments
$40.60B totalBuilding Operations Experience$23.22B · 57.2%
Advisory Services Segment$8.84B · 21.8%
Project Management Segment$7.66B · 18.9%
Real Estate Investments Segment$879.00M · 2.2%
Product / service
$40.08B totalFacilities Management$20.64B · 51.5%
Project Management$7.66B · 19.1%
Advisory Leasing$4.50B · 11.2%
Property Management$2.58B · 6.4%
Advisory Sales$2.12B · 5.3%
Valuation$815.00M · 2.0%
Bank Servicing$357.00M · 0.9%
Other Portfolio Services$354.00M · 0.9%
Investment Management Property Management Brokerage And Other Professional Services$274.00M · 0.7%
Real Estate Development Services$266.00M · 0.7%
Commercial Mortgage Origination$251.00M · 0.6%
Loan Servicing$164.00M · 0.4%
Development And Construction Management Revenues$98.00M · 0.2%
Geographic
$40.55B totalUS$22.85B · 56.3%
All Other Countries$11.99B · 29.6%
GB$5.71B · 14.1%
Peer comparison
Same SIC group: Real Estate
Comparing CBRE GROUP against the 5 most active filers in the same SIC group.