— Know what they know.
/
Not Investment Advice

CBRE

NYSE · USD
CBRE Group, Inc.
Real Estate · Real Estate - Services
CEO Robert E. Sulentic Employees 155,000 R&D / revenue 0.0%
Last price
$133.08−1.78%last session
Market cap
$38.5B
P/E (TTM)
30.3x
From 52w high
−23.6%
From 52w low
+9.4%
1-year return
−14.4%
RSI 14 · vs SMA200
47.5 · −7.3%
IS score
52.6/ 100
Factor model across 8 sub-scores, ranked against 3,010 US stocks. Describes the business, not the outlook.
Download full factsheet (PDF)

One year, rebased to 100

CBRE   SPY   XLRE (sector ETF) · weekly closes
8090100110120Jan 26Apr 26Jul 26Oct 26SPY 116XLRE 101CBRE 86

Score DNA

Each bar is a 0-100 score within the scored universe
26
Profitability
65
Growth
37
Value
84
Momentum
80
Risk (safety)
60
Quality
49
Balance sheet
72
Earnings quality

Flags

Strengths
✓ Congress buying
Warnings
▲ Beneish M above -1.78
Observations
Moat model: Weak, Efficient ScalePiotroski 7 / 9Altman Z 3.3Beta 1.193 of 4 smart-money sources active

Smart-money strip

Each disclosure source on its own window. Filings coinciding is not coordination.
INSForm 4 · 180 days
Insider open-market buys
0
5 open-market sales, $1.1M
Form 144 notices (12m): 10, $3.6M proposed, not confirmed sales
CONGSTOCK Act · 180 days
Congressional purchases
1
Last disclosed purchase 2026-07-07
Members disclose in ranges, 30-45 days after the trade
13F13F · quarter to 2026-06-30
Net change in institutional holders
−6
114 new holders, 110 closed
1,073 filers hold 96.7% · 406 added, 413 trimmed
ETFETF holdings · 30 days
Net funds accumulating
+200
1,093 funds adding shares
893 funds trimming · counts of funds, not dollars
DARKFINRA · daily
Short-sale share of off-exchange volume
42.8%
20-day avg 39.1%, 50-day avg 37.9%
Latest 3.7 pp over its 20-day average · a flow, not short interest

Key financials · FY2025

USD, fiscal year. Stock-based compensation is non-cash; shown against FCF.
Income statement
Revenue$40.5B
Revenue growth YoY+13.4%
Gross margin15.0%
Operating income$1.3B
Operating margin3.2%
Net income$1.2B
Net margin2.9%
EPS (diluted)$3.85
Cash flow
Operating cash flow$1.6B
Capital expenditure$366.0M
Free cash flow$1.2B
FCF conversion (FCF / OCF)76.5%
Stock-based compensation$120.0M
FCF less SBC$1.1B
Buybacks$968.0M
Dividends$0
Balance sheet & returns
Cash & short-term investments$1.9B
Total debt$7.6B
Net debt$5.7B
Shareholders' equity$9.6B
Goodwill & intangibles$10.0B
Debt / equity1.26
ROE (TTM)15.2%
ROIC (TTM)5.7%
Operating margin by fiscal year
5.9%FY20214.9%FY20223.5%FY20233.9%FY20243.3%FY2025
Revenue $27.7B (FY2021) to $40.5B (FY2025), a 10.0% CAGR.

Valuation

P/E (TTM)30.3x
EV / EBITDA16.0x
Price / sales0.88x
Price / FCF41.1x
FCF yield2.43%
Buyback yield2.51%
SBC / revenue0.5%
Price / book4.66x
Forward P/E FY202617.0x
Forward P/E FY202714.9x
Forward P/E FY202813.2x
Forward multiples divide today's price by Street EPS estimates. Street mean target $179.33 across 3 analysts last quarter is theirs, not ours.

CBRE vs industry median

128 companies in Real Estate - Services
Gross margin 17.7% 49.4% Operating margin 3.6% 5.7% Net margin 3.0% 0.2% ROIC 5.7% 3.2%
CBRE (TTM)Industry median Asset turnover 1.43 vs industry 0.19 · financial leverage 3.63

Earnings delivery

Next report 2026-10-22 · consensus EPS $1.97
100%
beat rate, 12 of 12 quarters
+11.9%
median EPS surprise
12
longest beat streak
+8+7+17+13+14+13+5+13+11+10+2+42
EPS surprise in % vs the consensus at the time, oldest (left) to newest, 2023-07-27 to 2026-04-23. Bars cap at ±60%.

Peers

Market-cap band, not the industry cohort above
CompanyMkt capP/EROENet marginRev growth12m return
CBRE CBRE Group, Inc. $38.5B30.3x15.2%3.0%+13.4% −14.4%
JLL Jones Lang LaSalle Incorpora $14.1B14.3x13.8%3.1%+11.2% +2.5%
CSGP CoStar Group, Inc. $13.1B175.9x0.9%5.9%+22.0% −56.5%
COMP Compass, Inc. $6.9B85.0x3.6%2.1%+67.8% +24.9%
BPYPN Brookfield Property Partners $6.7Bn/m-2.8%-1.2%−9.5% +4.6%
FSV FirstService Corporation $6.2B38.8x13.0%3.1%+2.8% —
CIGI Colliers International Group $4.5B41.8x7.5%1.8%+16.7% —
CCI Crown Castle Inc. $35.9B33.3x-46.2%30.5%−23.2% —
12-month window: SPY +15.9%, sector ETF XLRE +0.9%. Past returns describe history only.

Recent 8-K filings

2026-07-29Earnings Release; Exhibits
2026-06-23Material Agreement; Financial Obligation; Exhibits
2026-06-15Regulation FD
2026-05-22Shareholder Vote
2026-05-04Material Agreement; Financial Obligation; Exhibits
2026-04-28Material Agreement; Exhibits

Context

Shares outstanding289,575,298
Free float99.3%
Institutional ownership96.7%
Beta1.19
Dividend yield0.00%
Last dividendNone on file
50 / 200-day average$140.98 / $143.70
Large-cap Real Estate median P/E26.2x

Full factsheet

The PDF carries everything on this page plus the cash-allocation waterfall, Form 144 notices, 13F holder detail, dark-pool and short-flow history, seasonality and the moat assessment (Weak).

Read it in the browser Download (PDF)

All fundamentals · 140 measures in 13 categories

Percentile = where CBRE sits among 17 scored companies in Real Estate - Services (0 = lowest value, 100 = highest). It is a position, not a grade.
ValuationProfitability (TTM)Returns on capitalGrowthMargin history & stabilityLiquidity (latest quarter)Leverage & solvency (latest quarter)EfficiencyCash flow & earnings qualityDividends & buybacksScores & forensic checksPer shareSize (TTM)

Valuation

MeasureCBREIndustry medianIndustry percentileSector median
P/E (TTM) 29.6x 38.6x
30th		 24.1x
PEG (P/E ÷ 3-yr EPS CAGR) 1.68 0.29
75th		 1.55
Price / sales 0.9x 0.9x
44th		 3.7x
Price / book 4.6x 1.7x
93rd		 1.3x
Price / tangible book —
Price / free cash flow 41.1x 14.9x
82nd		 15.1x
Price / operating cash flow 28.3x 13.5x
83rd		 12.3x
Enterprise value $47.6B $7.5B
100th		 $7.5B
EV / sales 1.1x 1.2x
38th		 9.4x
EV / EBITDA 16.9x 11.3x
71st		 15.7x
EV / EBIT 23.6x 17.5x
69th		 27.2x
EV / free cash flow 50.8x 19.9x
91st		 29.4x
Earnings yield 3.4% 1.4%
81st		 3.2%
FCF yield 2.4% 4.4%
44th		 5.6%
Operating cash flow yield 3.5% 4.5%
38th		 7.9%
Graham number (per share) $52.79 $11.37
80th		 $22.48

Profitability (TTM)

MeasureCBREIndustry medianIndustry percentileSector median
Gross margin 17.7% 35.0%
31st		 51.4%
EBITDA margin 6.4% 11.1%
38th		 54.9%
Operating margin 3.6% 4.8%
38th		 29.0%
EBIT margin 4.6% 4.8%
44th		 31.7%
Net margin 3.0% 1.8%
75th		 12.2%
NOPAT margin 2.8% 1.6%
56th		 25.5%
FCF margin 2.1% 3.3%
38th		 21.8%
Operating cash flow margin 3.1% 4.1%
38th		 33.4%
R&D / revenue 0.0% 0.0%
0th		 0.0%
SG&A / revenue 13.9% 13.9%
50th		 6.6%
Stock comp / revenue 0.5% 0.7%
44th		 1.2%
Effective tax rate 21.2% 23.7%
46th		 1.9%

Returns on capital

MeasureCBREIndustry medianIndustry percentileSector median
ROE (on average equity) 15.6% 1.7%
100th		 5.3%
ROA 4.5% 0.9%
94th		 1.6%
ROIC 7.1% 1.3%
69th		 3.7%
ROCE 10.5% 3.9%
88th		 4.4%
Return on tangible assets 6.9% 3.6%
81st		 3.8%
Cash ROIC (OCF / invested capital) 7.8% 6.4%
67th		 5.7%
Gross profitability (GP / assets) 25.3% 22.2%
62nd		 5.3%
ROIC, 3-yr average 6.3% 0.5%
100th		 2.4%
ROIC, 5-yr average 9.7% 3.8%
100th		 2.6%
ROE, 5-yr average 15.0% 3.7%
100th		 4.4%
Incremental ROIC 32.4% -0.3%
100th		 6.5%

Growth

MeasureCBREIndustry medianIndustry percentileSector median
Revenue growth (TTM YoY) 14.5% 11.0%
69th		 8.4%
Revenue growth (QoQ) 6.6% 8.9%
31st		 2.2%
Revenue CAGR, 3 yr 12.3% 5.9%
75th		 5.8%
Revenue CAGR, 5 yr 11.8% 10.6%
60th		 9.5%
Gross profit CAGR, 3 yr 7.1% 1.2%
57th		 -0.8%
Operating income CAGR, 3 yr 17.9% 4.6%
75th		 3.0%
Net income growth (TTM YoY) 19.4% 16.4%
56th		 21.3%
Net income CAGR, 3 yr 15.4% 6.3%
62nd		 8.5%
EPS growth (TTM YoY) 21.7% 10.6%
56th		 17.6%
EPS CAGR, 3 yr 17.6% 5.4%
62nd		 5.7%
EPS CAGR, 5 yr 4.3% -20.6%
67th		 5.6%
FCF growth (TTM YoY) -20.2% 17.6%
22nd		 3.0%
FCF CAGR, 3 yr 17.4% 17.4%
50th		 5.6%
Operating cash flow CAGR, 3 yr 15.7% 15.7%
50th		 3.7%
Book value CAGR, 3 yr 3.1% 3.6%
47th		 -2.0%
Dividend CAGR, 3 yr —
Sustainable growth rate 15.6% 3.6%
100th		 -1.4%

Margin history & stability

MeasureCBREIndustry medianIndustry percentileSector median
Gross margin, 3-yr average 25.2% 37.2%
31st		 59.1%
Operating margin, 3-yr average 3.8% 3.9%
44th		 28.6%
Net margin, 3-yr average 2.9% 1.0%
81st		 12.3%
FCF margin, 3-yr average 2.5% 2.5%
50th		 27.4%
Revenue stability (0-1) 0.97 0.85
88th		 0.82
Earnings stability (0-1) 0.08 0.21
19th		 0.36
Margin stability (0-1) 0.63 0.90
12th		 0.83

Liquidity (latest quarter)

MeasureCBREIndustry medianIndustry percentileSector median
Cash & short-term investments $1.5B $500.5M
81st		 $141.2M
Net cash (− = net debt) −$9.1B −$2.1B
19th		 −$3.3B
Working capital $1.6B $253.1M
94th		 $19.5M
Current ratio 1.14 1.13
53rd		 1.02
Quick ratio 1.14 1.11
60th		 1.02
Cash ratio (cash + ST investments / current liabilities) 0.13 0.31
7th		 0.36
Defensive interval (days) 655 days 430 days
67th		 554 days

Leverage & solvency (latest quarter)

MeasureCBREIndustry medianIndustry percentileSector median
Total debt $10.6B $2.5B
81st		 $3.5B
Debt / equity 1.26 1.27
47th		 1.33
Net debt / equity 1.08 1.11
47th		 1.26
Debt / assets 34.7% 35.7%
44th		 51.3%
Debt / capital 55.7% 55.9%
47th		 57.1%
Debt / EBITDA 3.76 4.93
36th		 6.47
Net debt / EBITDA 3.23 4.14
36th		 6.15
Interest coverage (EBIT / interest) 10.3x 2.3x
88th		 1.5x
Cash interest coverage 6.9x 3.1x
56th		 2.1x
Debt payback (years of OCF) 7.8 yrs 4.5 yrs
58th		 8.9 yrs
Liabilities / assets 69.9% 60.5%
88th		 60.0%
IS credit model rating A — —
Implied credit spread (bps) 150 400
19th		 650

Efficiency

MeasureCBREIndustry medianIndustry percentileSector median
Asset turnover 1.50 0.84
81st		 0.12
Fixed asset turnover 13.81 8.16
73rd		 0.90
Inventory turnover —
Receivables turnover 5.4 10.4
0th		 7.6
Days sales outstanding 67 days 35 days
100th		 37 days
Days inventory outstanding —
Days payables outstanding 46 days 22 days
69th		 53 days
Cash conversion cycle (days) 21 days 5 days
56th		 −6 days
Capex / revenue 1.0% 1.3%
44th		 4.4%
Capex / depreciation 0.53 0.49
56th		 0.32
Operating expense ratio 15.3% 26.0%
38th		 30.9%

Cash flow & earnings quality

MeasureCBREIndustry medianIndustry percentileSector median
Operating cash flow / net income 1.05 2.86
10th		 1.83
FCF / net income 0.72 2.09
10th		 1.43
FCF / operating cash flow 68.9% 82.6%
25th		 82.5%
Capex / operating cash flow 31.1% 17.4%
75th		 17.9%
Accruals ratio -0.2% -2.6%
75th		 -3.1%
Sloan accruals ratio -1.8% -0.4%
38th		 -3.3%
Earnings quality score (0-1) 1.00 1.00
45th		 1.00

Dividends & buybacks

MeasureCBREIndustry medianIndustry percentileSector median
Dividend yield 0.0% 0.0%
0th		 5.2%
Dividend per share (TTM) $0.00 $0.00
0th		 $1.21
Payout ratio (dividends / net income) 0.0% 0.0%
0th		 110.2%
Dividends / FCF 0.0% 0.0%
0th		 79.1%
Dividend growth (YoY) —
Buyback yield 1.4% 0.9%
69th		 0.1%
Shareholder yield (dividends + buybacks) 1.4% 1.4%
50th		 5.9%
Share count change (YoY) -2.0% 0.0%
38th		 0.5%
Buybacks, last 5 years $3.0B $80.5M
100th		 $15.9M

Scores & forensic checks

MeasureCBREIndustry medianIndustry percentileSector median
IS score 53 42
69th		 43
IS profitability 26 28
44th		 44
IS growth 65 60
75th		 58
IS value 37 43
31st		 53
IS momentum 84 68
75th		 77
IS risk (safety) 80 30
69th		 15
IS quality 60 56
56th		 59
IS balance sheet 49 40
69th		 35
IS earnings quality 72 71
56th		 72
IS cash flow 35 54
31st		 61
Piotroski F-score (0-9) 7 5
75th		 6
Altman Z-score 3.3 1.8
75th		 0.8
Beneish M-score −0.31 −2.71
94th		 −2.71
Ohlson O-score −7.20 −7.28
56th		 −6.91
IS credit score 72 49
75th		 34

Per share

MeasureCBREIndustry medianIndustry percentileSector median
EPS, diluted (TTM) $4.38 $0.29
94th		 $0.78
Book value per share $28.28 $20.98
81st		 $15.91
Tangible book per share −$2.27 $2.87
25th		 $16.11
Revenue per share $146.94 $16.04
88th		 $6.28
FCF per share $3.16 $1.28
75th		 $1.49
Operating cash flow per share $4.58 $1.42
81st		 $1.95
Cash per share $5.01 $3.67
69th		 $0.95

Size (TTM)

MeasureCBREIndustry medianIndustry percentileSector median
Market cap $38.5B $4.5B
100th		 $2.5B
Revenue $43.6B $5.6B
100th		 $956.7M
EBITDA $2.8B $495.3M
81st		 $399.5M
Net income $1.3B $66.8M
100th		 $109.6M
Free cash flow $938.0M $127.8M
94th		 $157.8M
Total assets $30.5B $7.6B
81st		 $6.6B
Shareholders' equity $8.4B $1.5B
81st		 $1.8B
Employees 155,000 16,230
100th		 307

Insider transactions, last 6 months

Form 4 · most recent 12
DateInsiderTypeSharesPriceValueOwned after
2026-08-13Giamartino Emma E.
CFO & Chief Investment Officer
 Open-market sale 2,250$148.29$333,652108,479
2026-08-13Doellinger Chad J
Chief Legal & Admin. Officer
 Open-market sale 228$148.29$33,81041,778
2026-07-29Kohli Vikramaditya
COO & CEO, Advisory Services
 Open-market sale 2,666$150.00$399,900134,869
2026-05-27Cobert Beth F.
Director
 Gift 2,068——1,907
2026-05-27Cobert Beth F.
Director
 Gift 2,068——28,267
2026-05-26Sanjiv Yajnik
Director
 Gift 2,068——3,433
2026-05-26Sanjiv Yajnik
Director
 Gift 2,068——29,587
2026-05-26Goodman Shira
Director
 Gift 2,068——1,907
2026-05-26Goodman Shira
Director
 Gift 2,068——22,198
2026-05-26Gilyard Reginald Harold
Director
 Gift 2,068——1,907
2026-05-26Gilyard Reginald Harold
Director
 Gift 2,068——21,891
2026-05-21Sanjiv Yajnik
Director
 Award / grant 1,907——3,975

Shares acquired vs disposed, by month

acquired disposed · all Form 4 types
MarMayJulAug

By transaction type, 6 months

TypeDirectionFilingsSharesValue
Award / grantAcquired1017,621$309,910
GiftAcquired48,272—
GiftDisposed48,272—
Open-market saleDisposed57,501$1.1M
Tax withholdingDisposed2348$49,350
—Disposed10—
Awards, option exercises and tax withholding are compensation mechanics; open-market buys and sales are the discretionary ones.

Form 144 notices

12 months: 10 notices · 24,590 shares · $3.6M
FiledFilerShares proposedEst. proceeds
2026-08-13Doellinger Chad J228$33,810
2026-08-13Giamartino Emma E.2,250$333,652
2026-07-29Kohli Vikramaditya2,666$399,900
2026-07-27Sulentic Robert E2,250$317,115
A Form 144 is notice of a proposed sale, not a confirmed one.

Congress trades

12 months: House 3 trades (1 purchases) · Senate 0 (0 purchases)
TradedMemberChamberTypeAmountDisclosed
2026-09-11Ro KhannaHouseSale$1,001 - $15,0002026-10-09
2026-07-07Ro KhannaHousePurchase$1,001 - $15,0002026-08-12
2026-01-29Ro KhannaHouseSale$1,001 - $15,0002026-02-10
2023-11-03Ro KhannaHousePurchase$1,001 - $15,0002023-12-06
STOCK Act disclosures, in ranges, filed up to 45 days after the trade.

Largest 13F holders

Quarter to 2026-06-30, the latest most managers have filed
ManagerSharesValue% of shares out
BlackRock, Inc.27,714,625$3.7B9.57%
VANGUARD PORTFOLIO MANAGEMENT LLC25,843,839$3.5B8.92%
VANGUARD CAPITAL MANAGEMENT LLC19,136,858$2.6B6.61%
STATE STREET CORP14,315,011$1.9B4.94%
PRINCIPAL FINANCIAL GROUP INC10,244,499$1.4B3.54%
GEODE CAPITAL MANAGEMENT, LLC8,527,543$1.1B2.94%
FMR LLC5,601,115$754.4M1.93%
NORGES BANK4,787,848$644.9M1.65%
JPMORGAN CHASE & CO4,711,140$641.1M1.63%
Invesco Ltd.3,974,929$535.4M1.37%
MORGAN STANLEY3,743,123$504.2M1.29%
Artisan Partners Limited Partnership3,718,461$500.8M1.28%
BANK OF AMERICA CORP /DE/3,130,906$421.7M1.08%
DIMENSIONAL FUND ADVISORS LP3,074,553$414.2M1.06%
Swedbank AB2,973,762$400.5M1.03%

Institutional ownership by quarter

2023-092026-0696.7%
% of shares held by 13F filers
2023-092026-061,073
Number of 13F filers holding

Holder changes by quarter

QuarterHoldersOwnershipNewIncreasedReducedClosed
2026-06-301,07396.7%114406413110
2026-03-311,07995.4%115398437130
2025-12-311,10997.1%15642937482
2025-09-301,05995.4%12640336666
2025-06-301,01497.1%11837139781
2025-03-3199098.7%13934537176
2024-12-3194299.5%15734032666
2024-09-3086399.9%13931729650
2024-06-30780100.8%7733725377
2024-03-31794101.0%9329928549
2023-12-31762101.8%12923429348
2023-09-30692100.5%6322928062

Schedule 13D / 13G filers

FiledFormFiler% of classShares
2026-04-29SCHEDULE 13GVanguard Portfolio Management8.8%25,848,219
2026-04-29SCHEDULE 13GVanguard Capital Management7.4%21,955,428
2026-03-26SCHEDULE 13G/AThe Vanguard Group0.0%0
Required above 5% of a class; 13G is the passive form.

ETFs with the largest holding

ETFWeight in fundHolding value
VNQ2.13%$1.4B
VGSLX2.13%$1.4B
VGSNX2.13%$1.4B
VITSX0.05%$1.2B
VTSAX0.05%$1.2B
VSMPX0.05%$1.2B

Share structure

Shares outstanding289,575,298
Float287,561,006
Free float99.3%

Income statement

Fiscal years, USD
FY2021FY2022FY2023FY2024FY2025
Revenue$27.7B$30.8B$31.9B$35.8B$40.5B
Cost of revenue$21.6B$24.2B$25.6B$28.7B$34.5B
Gross profit$6.2B$6.6B$6.3B$7.0B$6.1B
R&D$0$0$0$0$0
SG&A$4.1B$4.6B$4.5B$4.9B$5.5B
Operating income$1.6B$1.5B$1.1B$1.4B$1.3B
EBITDA$2.1B$2.0B$1.8B$2.2B$2.6B
Pretax income$2.4B$1.7B$1.3B$1.2B$1.6B
Income tax$568.0M$234.0M$250.0M$182.0M$317.0M
Net income$1.8B$1.4B$986.0M$968.0M$1.2B
EPS, diluted$5.41$4.29$3.15$3.14$3.85
Diluted shares339.7M327.7M312.6M308.0M300.8M

Balance sheet

FY2021FY2022FY2023FY2024FY2025
Cash & short-term investments$2.4B$1.3B$1.3B$1.1B$1.9B
Receivables$6.8B$6.3B$7.6B$8.1B$10.6B
Inventory$0$0$0$0$0
Total current assets$10.1B$8.5B$9.7B$10.0B$13.5B
PP&E, net$1.9B$1.9B$1.9B$2.1B$3.1B
Goodwill & intangibles$7.4B$7.1B$7.2B$7.9B$10.0B
Total assets$22.1B$20.5B$22.5B$24.4B$30.9B
Accounts payable$2.9B$3.1B$3.6B$4.1B$4.8B
Total current liabilities$8.4B$8.2B$8.2B$9.3B$12.3B
Long-term debt$1.5B$1.1B$2.8B$3.2B$5.0B
Total liabilities$12.7B$11.9B$13.5B$15.2B$21.3B
Shareholders' equity$9.4B$8.6B$9.1B$9.2B$9.6B

Cash flow statement

Outflows are negative
FY2021FY2022FY2023FY2024FY2025
Net income$1.8B$1.4B$986.0M$968.0M$1.2B
Depreciation & amortization$557.8M$639.5M$647.2M$701.0M$928.0M
Stock-based compensation$0$0$0$0$120.0M
Change in working capital$334.4M−$434.4M−$1.0B$193.0M−$67.0M
Operating cash flow$2.4B$1.7B$534.0M$1.8B$1.6B
Capital expenditure−$209.9M−$260.1M−$305.0M−$307.0M−$366.0M
Free cash flow$2.2B$1.5B$229.0M$1.5B$1.2B
Investing cash flow−$1.6B−$917.2M−$729.0M−$1.6B−$1.6B
Net debt issued / repaid$187.8M$189.5M$1.1B$793.0M$1.7B
Buybacks−$368.6M−$1.9B−$665.0M−$627.0M−$968.0M
Dividends paid$0$0$0$0$0

Ratio history

Margins on the fiscal-year (TTM at Q4) basis; multiples at each year end
FY2021FY2022FY2023FY2024FY2025
Gross margin22.2%21.5%19.7%19.5%35.9%
Operating margin5.9%4.9%3.5%3.9%3.3%
Net margin6.6%4.6%3.1%2.7%2.9%
FCF margin8.0%4.7%0.7%4.2%2.9%
ROE23.5%17.2%12.2%11.6%13.4%
ROIC12.2%12.9%7.6%9.2%6.4%
ROA9.2%6.6%4.6%4.1%4.2%
Debt / equity0.490.440.580.681.13
Interest coverage31.1x21.0x8.5x6.2x9.5x
Current ratio1.201.031.171.071.09
Revenue growth+16.5%+11.1%+3.6%+11.9%+13.4%
EPS growth+143.7%−18.5%−27.5%−1.7%+22.9%
P/E at year end20.1x17.5x29.1x41.8x41.7x
EV / EBITDA at year end18.2x12.8x16.9x21.7x22.6x
FCF yield at year end6.05%5.93%0.80%3.69%2.47%
Dividend payout0.0%0.0%0.0%0.0%0.0%

Revenue by segment

FY2021FY2022FY2023FY2024FY2025
Global Workplace Solutions Segment$17.1B$19.9B$22.5B$25.1B—
Advisory Services Segment$9.6B$9.9B$8.5B$9.6B$8.8B
Project Management————$7.7B
Real Estate Investments Segment$1.1B$1.1B$952.0M$1.0B$879.0M

Revenue by region · FY2025

UNITED STATES$22.8B · 56%
All Other Countries$12.0B · 30%
UNITED KINGDOM$5.7B · 14%

Street estimates by fiscal year

Next report 2026-10-22 · consensus EPS $1.97 · these are analysts' numbers, not ours
Fiscal yearRevenue (mean)Revenue rangeEPS (mean)EPS rangeAnalystsP/E on mean EPS
2026$46.7B$46.2B – $47.4B$7.83$7.62 – $7.92817.0x
2027$51.9B$50.3B – $54.8B$8.91$8.68 – $9.17714.9x
2028$56.7B$54.6B – $61.5B$10.10$8.00 – $12.26513.2x

Reported vs expected, every quarter on file

ReportedEPS expectedEPS actualEPS surpriseRevenue expectedRevenue actualRevenue surprise
2026-04-23$1.13$1.61+42.5%$10.2B$10.5B+2.9%
2026-02-12$2.68$2.73+1.9%$11.7B$11.6B−0.5%
2025-10-23$1.46$1.61+10.3%$10.1B$10.3B+1.4%
2025-07-29$1.07$1.19+11.2%$9.5B$9.8B+3.1%
2025-04-24$0.76$0.86+13.2%$9.0B$8.9B−0.9%
2025-02-13$2.20$2.32+5.5%$10.3B$10.4B+1.2%
2024-10-24$1.06$1.20+13.2%$8.8B$9.0B+2.7%
2024-07-25$0.71$0.81+14.2%$8.3B$8.4B+1.0%
2024-05-03$0.69$0.78+12.6%$7.9B$7.9B−0.1%
2024-02-15$1.18$1.38+16.9%$8.4B$8.9B+6.0%
2023-10-27$0.67$0.72+7.5%$7.4B$7.9B+6.0%
2023-07-27$0.76$0.82+7.9%$7.3B$7.7B+5.7%
2023-04-27$0.81$0.92+13.6%$7.6B$7.4B−2.5%
2023-02-23$1.19$1.33+11.8%$8.0B$8.2B+2.9%
2022-10-27$1.26$1.13−10.3%$7.7B$7.5B−2.8%
2022-08-04$1.40$1.83+30.7%$7.7B$7.8B+0.6%
2022-05-05$1.08$1.39+28.7%$7.6B$7.3B−2.9%
2022-02-24$1.78$1.80+1.1%$8.2B$8.6B+4.8%
2021-10-28$1.19$1.39+16.8%$6.6B$6.8B+3.3%
2021-07-29$0.77$1.36+76.6%$6.1B$6.5B+5.1%
2021-04-29$0.67$0.86+28.4%$5.8B$5.9B+2.4%
2021-02-23$0.96$1.45+51.0%$5.2B$6.9B+32.5%
2020-10-29$0.44$0.73+65.9%$5.5B$5.6B+2.8%
2020-07-31$0.30$0.35+16.7%$6.5B$5.4B−16.7%

Off-exchange (dark pool) volume, weekly

FINRA ATS, $ billions · through the week of 2026-08-31 (FINRA publishes with a delay)
0.306-150.406-220.206-290.307-060.307-130.307-200.607-270.408-030.308-100.308-170.208-240.408-31
Week ofNotionalSharesTrades
2026-08-31$355.7M2,436,53458,891
2026-08-24$224.9M1,493,28248,786
2026-08-17$291.6M1,920,21256,008
2026-08-10$273.7M1,852,55848,931
2026-08-03$368.8M2,474,25956,529
2026-07-27$636.1M4,308,56384,665

Short-sale share of off-exchange volume

daily 20-day average
07-2310-1542.8%
DateShort shareShort volumeTotal volume
2026-10-1542.8%415,326969,521
2026-10-1424.3%222,069915,472
2026-10-1326.9%205,666763,459
2026-10-1232.2%219,959683,019
2026-10-0939.2%313,177798,542
2026-10-0841.6%393,763947,201
2026-10-0744.9%329,232732,787
2026-10-0646.3%190,884412,190
2026-10-0539.8%343,576863,322
2026-10-0232.2%263,219818,509
A daily flow measure from FINRA, not short interest.

Seasonality

Average return by calendar month
+0.5Jan+1.0Feb+3.2Mar+5.3Apr-2.0May+0.4Jun+3.5Jul-2.5Aug-0.6Sep+1.0Oct+4.1Nov+4.0Dec
MonthAvg returnUp yearsYears
Jan+0.5%55%20
Feb+1.0%55%20
Mar+3.2%62%21
Apr+5.3%50%20
May−2.0%40%20
Jun+0.4%55%20
Jul+3.5%60%20
Aug−2.5%50%20
Sep−0.6%55%20
Oct+1.0%55%20
Nov+4.1%80%20
Dec+4.0%70%20
History, not a forecast.

Indicators

as of 2026-10-16
RSI 1447.5
MFI48.4
ADX22.4
Stochastic %K / %D65.0 / 51.3
Williams %R-32.1
CCI27
TSI / signal-17.5 / -21.5
Chaikin money flow0.00
ATR$4.42
Bollinger width12.4%
Volume vs 20-day avg0.76x
SupertrendDown

Moving averages and bands

level (price vs level)
SMA 20$132.44 (+0.5%)
SMA 50$140.69 (−5.4%)
SMA 200$143.55 (−7.3%)
EMA 21$133.33 (−0.2%)
EMA 50$137.21 (−3.0%)
EMA 200$141.80 (−6.1%)
Bollinger upper$140.63 (−5.4%)
Bollinger lower$124.25 (+7.1%)
Parabolic SAR$125.50 (+6.0%)
Open the live chart, 110+ indicators

About CBRE Group, Inc.

CBRE Group, Inc. operates as a commercial real estate services and investment company in the United States, the United Kingdom, and internationally. The company operates through Advisory Services, Building Operations and Experience, Project Management, and Real Estate Investments segments. The Advisory Services segment offers strategic advice and execution to owners, investors, and occupiers of real estate in connection with leasing of offices, and industrial and retail space; clients fully integrated property sales services under the CBRE Capital Markets brand; clients commercial mortgage and structured financing services; originates and sells commercial mortgage loans; property management services, such as marketing, building engineering, lease administration, accounting, investment reporting services, financial services on a contractual basis for owners of and investors in office, industrial, and retail properties; and valuation services that include market value appraisals, litigation support, discounted cash flow analyses, and feasibility studies, as well as consulting services, such as property condition reports, hotel advisory, and environmental consulting. The Global Workplace Solutions segment provides facilities management, and project management services comprising building consulting, program, and project and cost management services under the Turner & Townsend brand name. The Real Estate Investments segment offers investment management services under the CBRE Investment Management brand to pension funds, insurance companies, sovereign wealth funds, foundations, endowments, and other institutional investors and development services, such as real estate development and investment activities under the Trammell Crow Company brand to users and investors in commercial real estate, and for their own account. CBRE Group, Inc. was founded in 1906 and is headquartered in Dallas, Texas.

https://www.cbre.com

Key executives

NameTitlePayBorn
Robert E. SulenticChief Executive Officer & Chairman of Board$5.3M1956
Vikramaditya KohliChief Operating Officer & Chief Executive Officer of Advisory Services$4.0M1980
Daniel G. QueenanExecutive Group President$2.5M1973
Emma E. GiamartinoCFO & Chief Investment Officer$2.3M1984
Chad DoellingerChief Legal and Administrative Officer & Corporate Secretary$2.2M1977
Jamie J. HodariCEO of Building Operations & Experience and Chief Commercial Officer$2.0M1982
Chandni LuthraExecutive Vice President of Investor Relations and Financial Planning & Analysis——
Elizabeth AtleeSenior Vice President and Chief Ethics & Compliance Officer——

Executive pay, latest proxy

ExecutiveYearSalaryStock awardsIncentiveTotal
Robert E. Sulentic Chair, President, and Chief Executive Officer2025$1.4M$19.0M$3.6M$24.3M
Vikram Kohli Chief Executive Officer, Advisory Services2025$850,000$5.7M$1.7M$9.7M
Emma E. Giamartino Chief Financial Officer and Chief Investment Officer Chief Operating Officer and2025$775,000$5.1M$1.5M$7.4M
Jamie Hodari Chief Executive Officer, Building Operations & Experience and Chief Commercial Officer Chief Legal & Administrative2025$669,231$5.0M$1.3M$7.0M
Chad J. Doellinger Officer and Corporate Secretary2025$672,692$2.3M$1.5M$4.5M

Employees

90k2018100k2019100k2020105k2021115k2022130k2023140k2024155k2025

Dividends

Ex-dateAmountPaid
None on file.

Moat model

Weak · Efficient Scale · 2026-06-30
Cost advantage53
Intangibles25
Switching costs46
Network effect60
Efficient scale80
Our component scores (0-100) and overall 49.4; a model of the business, not a call on the stock.
InsiderStreet reports findings from filings and market data. Nothing on this page is a recommendation to buy or sell.Every figure is computed in code · data as of 2026-10-17

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