NYSE: CBRE
CBRE Group
Real Estate · Real Estate
52-week range
$121.44$174.27
Stock price
Market cap
At each fiscal year end, then the latest quarter end: closing price × shares outstanding.Figures shown are for the trailing 12 months to Sep 30, 2026. Hover or tap a column for another year.$37.0B
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| Period | Market cap |
|---|---|
| FY2016, ended Dec 31, 2016 | $10.6B |
| FY2017, ended Dec 31, 2017 | $14.7B |
| FY2018, ended Dec 31, 2018 | $13.4B |
| FY2019, ended Dec 31, 2019 | $20.5B |
| FY2020, ended Dec 31, 2020 | $21.0B |
| FY2021, ended Dec 31, 2021 | $36.1B |
| FY2022, ended Dec 31, 2022 | $23.8B |
| FY2023, ended Dec 31, 2023 | $28.5B |
| FY2024, ended Dec 31, 2024 | $39.4B |
| FY2025, ended Dec 31, 2025 | $47.5B |
| Trailing 12 months to Sep 30, 2026 (through Q3 FY2026) | $37.0B |
Revenue
By fiscal year, then the trailing 12 months.Figures shown are for the trailing 12 months to Sep 30, 2026. Hover or tap a column for another year.$45.0B
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| Period | Revenue |
|---|---|
| FY2016, ended Dec 31, 2016 | $17.4B |
| FY2017, ended Dec 31, 2017 | $18.6B |
| FY2018, ended Dec 31, 2018 | $21.3B |
| FY2019, ended Dec 31, 2019 | $23.9B |
| FY2020, ended Dec 31, 2020 | $23.8B |
| FY2021, ended Dec 31, 2021 | $27.7B |
| FY2022, ended Dec 31, 2022 | $30.8B |
| FY2023, ended Dec 31, 2023 | $31.9B |
| FY2024, ended Dec 31, 2024 | $35.8B |
| FY2025, ended Dec 31, 2025 | $40.5B |
| Trailing 12 months to Sep 30, 2026 (through Q3 FY2026) | $45.0B |
Net income and free cash flow
By fiscal year, then the trailing 12 months. Free cash flow is operating cash flow minus capex.Figures shown are for the trailing 12 months to Sep 30, 2026. Hover or tap a column for another year.Show tableHide table
| Period | Net income | Free cash flow |
|---|---|---|
| FY2016, ended Dec 31, 2016 | $573M | $426M |
| FY2017, ended Dec 31, 2017 | $697M | $716M |
| FY2018, ended Dec 31, 2018 | $1.06B | $903M |
| FY2019, ended Dec 31, 2019 | $1.28B | $930M |
| FY2020, ended Dec 31, 2020 | $752M | $1.56B |
| FY2021, ended Dec 31, 2021 | $1.84B | $2.15B |
| FY2022, ended Dec 31, 2022 | $1.41B | $1.37B |
| FY2023, ended Dec 31, 2023 | $986M | $175M |
| FY2024, ended Dec 31, 2024 | $968M | $1.40B |
| FY2025, ended Dec 31, 2025 | $1.16B | $1.19B |
| Trailing 12 months to Sep 30, 2026 (through Q3 FY2026) | $1.38B | $938M |
Cash and cash equivalents
At each fiscal year end, then the latest quarter end.Figures shown are for the trailing 12 months to Sep 30, 2026. Hover or tap a column for another year.$1.68B
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| Period | Cash and cash equivalents |
|---|---|
| FY2016, ended Dec 31, 2016 | $763M |
| FY2017, ended Dec 31, 2017 | $752M |
| FY2018, ended Dec 31, 2018 | $777M |
| FY2019, ended Dec 31, 2019 | $972M |
| FY2020, ended Dec 31, 2020 | $1.90B |
| FY2021, ended Dec 31, 2021 | $2.43B |
| FY2022, ended Dec 31, 2022 | $1.32B |
| FY2023, ended Dec 31, 2023 | $1.26B |
| FY2024, ended Dec 31, 2024 | $1.11B |
| FY2025, ended Dec 31, 2025 | $1.86B |
| Trailing 12 months to Sep 30, 2026 (through Q3 FY2026) | $1.68B |
Total debt
At each fiscal year end, then the latest quarter end. Short- and long-term borrowings, excluding leases.Figures shown are for the trailing 12 months to Sep 30, 2026. Hover or tap a column for another year.$7.91B
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| Period | Total debt |
|---|---|
| FY2016, ended Dec 31, 2016 | $3.83B |
| FY2017, ended Dec 31, 2017 | $2.91B |
| FY2018, ended Dec 31, 2018 | $3.10B |
| FY2019, ended Dec 31, 2019 | $2.74B |
| FY2020, ended Dec 31, 2020 | $2.77B |
| FY2021, ended Dec 31, 2021 | $2.85B |
| FY2022, ended Dec 31, 2022 | $1.75B |
| FY2023, ended Dec 31, 2023 | $3.50B |
| FY2024, ended Dec 31, 2024 | $4.19B |
| FY2025, ended Dec 31, 2025 | $7.59B |
| Trailing 12 months to Sep 30, 2026 (through Q3 FY2026) | $7.91B |
Shares outstanding
At each fiscal year end, then the latest quarter end, adjusted for splits. Down 14.7% since 2016.Figures shown are for the trailing 12 months to Sep 30, 2026. Hover or tap a column for another year.288M
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| Period | Shares outstanding |
|---|---|
| FY2016, ended Dec 31, 2016 | 338M |
| FY2017, ended Dec 31, 2017 | 340M |
| FY2018, ended Dec 31, 2018 | 336M |
| FY2019, ended Dec 31, 2019 | 335M |
| FY2020, ended Dec 31, 2020 | 336M |
| FY2021, ended Dec 31, 2021 | 332M |
| FY2022, ended Dec 31, 2022 | 310M |
| FY2023, ended Dec 31, 2023 | 306M |
| FY2024, ended Dec 31, 2024 | 300M |
| FY2025, ended Dec 31, 2025 | 295M |
| Trailing 12 months to Sep 30, 2026 (through Q3 FY2026) | 288M |
Buybacks and new shares
By fiscal year, then the trailing 12 months, in dollars. Below zero: bought back. Above zero: issued to employees, sold or used in acquisitions.Figures shown are for the trailing 12 months to Sep 30, 2026. Hover or tap a column for another year.Net: $1.28B more bought back than issued
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| Period | Bought back | Paid to employees | Used in acquisitions |
|---|---|---|---|
| FY2016, ended Dec 31, 2016 | — | $63.5M | — |
| FY2017, ended Dec 31, 2017 | — | $93.1M | $11.7M |
| FY2018, ended Dec 31, 2018 | $161M | $128M | — |
| FY2019, ended Dec 31, 2019 | $145M | $128M | — |
| FY2020, ended Dec 31, 2020 | $50.0M | $60.4M | — |
| FY2021, ended Dec 31, 2021 | $369M | $185M | — |
| FY2022, ended Dec 31, 2022 | $1.85B | $160M | — |
| FY2023, ended Dec 31, 2023 | $665M | $96.0M | — |
| FY2024, ended Dec 31, 2024 | $627M | $146M | — |
| FY2025, ended Dec 31, 2025 | $968M | $120M | — |
| Trailing 12 months to Sep 30, 2026 (through Q3 FY2026) | $1.45B | $168M | — |
Revenue (TTM)
$45.0B
+14.8% YoY
Net income (TTM)
$1.38B
+12.5% YoY
Cash
$1.68B
+0.8% YoY
Total debt
$7.91B
+11.4% YoY
Valuation
At current price- Market Cap
- $37.1B
- P/E
- 26.9×
- Forward P/E
- —. Needs analyst estimates; not available from the current data provider
- Price / Sales
- 0.8×
- Price / Book
- 4.3×
- EV / EBITDA
- 14.9×
Growth
Trailing 12 months- Revenue (TTM)
- $45.0B
- Revenue Growth YoY
- 14.8%
- Revenue CAGR 3Y
- 9.6%
- Revenue CAGR 5Y
- 11.2%
- EPS Growth YoY
- 15.6%
- Net Income Growth YoY
- 12.5%
Profitability
Trailing 12 months- Gross Margin
- 18.5%
- Operating Margin
- 4.6%
- Net Margin
- 3.1%
- FCF Margin
- 2.1%
- Return on Equity
- 16.1%
Earnings
Trailing 12 months- Net Income
- $1.38B
- EPS (diluted)
- $4.67
- EBITDA
- $2.91B
- Operating Income
- $2.06B
Balance Sheet
As of Sep 30, 2026- Cash and cash equivalents
- $1.68B
- Total Debt
- $7.91B
- Net Debt
- $6.23B
- Total Assets
- $31.3B
- Total Liabilities
- $21.9B
- Shareholders' Equity
- $8.67B
Cash Flow
Trailing 12 months- Operating Cash Flow
- $1.40B
- Capital Expenditure
- $465M
- Free Cash Flow
- $938M
Dividends and risk
Last 12 months- Dividend Yield
- 0.0%
- Dividend / Share
- $0.00
- Beta (5Y)
- 1.23
Every ratio is calculated from the company’s reported figures.
Strength
Revenue is up 14.8% year over year, at $45.0B.
Note
Net margin of 3.1% over the last 12 months.
Note
Net debt of $6.23B is 2.1× EBITDA.
Note
Free cash flow of $938M, 2.1% of revenue.
Written by fixed rules from the reported figures, not by a person or an AI.
Latest report
Pro10-Q for the quarter ended Sep 30, 2026 · filed Oct 22, 2026
The score and findings for the newest report are part of CoreStock Pro, coming soon. Every earlier report is free.
Score of each annual report
0 to 100 · 60 means nothing notable · tap a column for its details
2025 · 10-K71Good news
71Good news
10-K for the fiscal year ended Dec 31, 2025
Filed Feb 12, 2026 · Read the filing on EDGAR
- Revenue rose 13.4% to $40.6 billion, operating income rose 24% to $1.75 billion and net income rose 19.5% to $1.16 billion as property markets improved.
- CBRE spent about $2.7 billion on capital uses: $1.2 billion for Pearce, $468 million for the rest of Industrious and $956 million on share buybacks.
- Estimated costs for fixing fire-safety problems at Telford Homes buildings rose to $321 million from $204 million, and CBRE is winding down Telford's construction business.
- The investment segment's revenue fell 15.3%, and cash from operations dipped to $1.56 billion as working capital rose.
Business momentum
Strong improvement
“An improved operating environment supported strong growth for CBRE in 2025. Overall, revenue increased 13.4%.”
Outlook
Neutral
“Our expected capital requirements for 2026 include up to $500 million of anticipated capital expenditures, net of tenant concessions.”
Financial stress
Low
Tone against the previous report
More positive
Red flags
- Minor
Other
“We had an estimated liability of approximately $321 million (of which $126 million was current) and $204 million (of which $102 million was current) as of December 31, 2025 and 2024, respectively, related to the remediation efforts.”
Positives
Strong growth in property sales and leasing
“Property sales revenue increased 20.0%, led by office, industrial, land and data centers in the U.S., APAC and Europe. Global leasing revenue rose 15.5%”
Steady contract-based revenue keeps growing
“This included 13.4% revenue growth in our resilient businesses”
Large share buybacks
“we repurchased 7,052,481 shares of our common stock with an average price of $135.52 per share for an aggregate of $956 million”
Concerns
Investment segment revenue fell
“Revenue decreased 15.3% for the year ended December 31, 2025 primarily due to lower incentive fees and carried interest”
Operating cash flow declined
“Net cash provided by operating activities totaled $1,559 million for the year ended December 31, 2025 as compared to net cash provided by operating activities of $1,708 million”
Rising acquisition and integration costs
“Integration and other costs related to acquisitions 303 93”
New risks since the previous report
Integrating the $1.2 billion Pearce acquisition
“approximately $1.2 billion for the acquisition of Pearce, a leading provider of advanced technical services for digital and power infrastructure”
Risks from US federal government contracts and shutdowns
“Extended shutdowns of the U.S. federal government may result in payment delays, contract cancellation or postponement and other disruptions from these clients”
Winding down some businesses
“In 2025, management made the decision to wind down the legacy Telford Homes' construction self-delivery business.”
More short-term commercial paper borrowing
“As of February 10, 2026 and December 31, 2024, we had $1.1 billion and $175 million, respectively, in outstanding borrowings under the commercial paper program.”
Risks from adopting AI tools
“The development, adoption and use of AI technologies is still in the early stages and involves significant uncertainties, which may expose us to legal, reputational and financial harm.”
Biggest risks named
- Interest rates and credit conditions hurting property deals
- Integrating acquisitions such as Pearce and Industrious
- Uncertain Telford Homes fire-safety repair costs
- Currency swings on about 44% of revenue
- Volatile real estate investment and development returns
Artificial intelligence in this business: Mentioned
How the score adds up
| Starting point | 60 | |
| Business momentum | +12 | |
| Outlook | 0 | |
| Tone against the previous report | +2 | |
| Financial stress | 0 | |
| Red flags | −0.9 | |
| New risks | −2 | |
| Score | 71 | |
Written by AI (Claude Opus 5.5) from the report’s text. 14 of 15 quotes were found word for word in the filing; the rest are left out. Not investment advice.
All scored reports
| Period | Report | Filed | Score | Momentum | Red flags |
|---|---|---|---|---|---|
| 10-Q | Oct 22, 2026 | Pro | |||
| 10-K | Feb 12, 2026 | 71 | Strong improvement | 1 minor | |
| 10-K | Feb 14, 2025 | 64 | Improving | 2 minor | |
| 10-K | Feb 20, 2024 | 55 | Mixed | None | |
| 10-K | Feb 27, 2023 | 48 | Mixed | 1 medium1 minor | |
| 10-K | Mar 1, 2022 | 60 | Strong improvement | 1 serious | |
| 10-K | Feb 24, 2021 | 23 | Sharp deterioration | 1 serious1 minor | |
| 10-K | Mar 2, 2020 | 44 | Improving | 1 serious1 minor | |
| 10-K | Mar 1, 2019 | 68 | Strong improvement | None | |
| 10-K | Mar 1, 2018 | 72 | Strong improvement | 1 minor |
How these scores work
An AI model reads the management discussion, risk factors and legal sections of each report and records what they say, quoting the filing word for word. Fixed rules then turn those findings into a score from 0 to 100, where 60 means nothing notable either way. A score describes the report, not whether the stock is a good investment, and the AI may know how things turned out later, which can colour older scores. Read the methodology
From the 10-Q for Q3 FY2026 (period ended Sep 30, 2026), filed Oct 22, 2026. View filings on SEC EDGAR