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.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2025
Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2025 | $40.5B | $2.0B | $1.2B | $1.2B | 13.0% | 13.4% | 19.5% |
| 2024 | $35.8B | $1.9B | $968M | $1.4B | 11.5% | 12.0% | -1.8% |
| 2023 | $31.9B | $1.7B | $986M | $175M | 11.9% | 3.6% | -29.9% |
| 2022 | $30.8B | $1.9B | $1.4B | $1.4B | 17.9% | - | - |
| 2021 | - | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Total Revenue | - | 30,828 | 31,949 | 35,767 | 40,550 |
| Operating Revenue | - | 30,828 | 31,949 | 35,767 | 40,550 |
| Cost Of Revenue | - | 24,239 | 25,675 | 28,811 | 32,984 |
| Gross Profit | - | 6,589 | 6,274 | 6,956 | 7,566 |
| Operating Expense | - | 5,262 | 5,184 | 5,685 | 6,272 |
| Selling General And Administration | 4,074.18 | 4,649.46 | - | - | - |
| Total Expenses | - | 29,501 | 30,859 | 34,496 | 39,256 |
| Operating Income | - | 1,327 | 1,090 | 1,271 | 1,294 |
| Total Operating Income As Reported | - | 1,512 | 1,117 | 1,413 | 1,753 |
| EBITDA | - | 1,940 | 1,712 | 1,945 | 2,023 |
| Normalized EBITDA | - | 1,757 | 1,685 | 1,803 | 1,566 |
| EBIT | - | 1,327 | 1,090 | 1,271 | 1,294 |
| Interest Expense | 50.35 | - | - | - | - |
| Net Interest Income | - | -69 | -149 | -215 | -216 |
| Other Non Operating Income Expenses | - | -12 | 61 | 39 | 19 |
| Other Income Expense | - | 400 | 336 | 162 | 516 |
| Interest Expense Non Operating | 50.35 | - | - | - | - |
| Net Non Operating Interest Income Expense | - | -69 | -149 | -215 | -216 |
| Pretax Income | - | 1,658 | 1,277 | 1,218 | 1,594 |
| Tax Provision | - | 234 | 250 | 182 | 317 |
| Tax Rate For Calcs | - | 0 | 0 | 0 | 0 |
| Tax Effect Of Unusual Items | - | 25.83 | 5.13 | 21.30 | 91.40 |
| Net Income Continuous Operations | - | 1,424 | 1,027 | 1,036 | 1,277 |
| Net Income From Continuing And Discontinued Operation | - | 1,407 | 986 | 968 | 1,157 |
| Net Income From Continuing Operation Net Minority Interest | - | 1,407 | 986 | 968 | 1,157 |
| Net Income | - | 1,407 | 986 | 968 | 1,157 |
| Net Income Common Stockholders | - | 1,407 | 986 | 968 | 1,157 |
| Net Income Including Noncontrolling Interests | - | 1,424 | 1,027 | 1,036 | 1,277 |
| Normalized Income | 1,783.04 | 1,249.83 | - | - | - |
| Diluted NI Availto Com Stockholders | - | 1,407 | 986 | 968 | 1,157 |
| Basic Average Shares | - | 322.81 | 308.43 | 305.86 | 298.16 |
| Diluted Average Shares | - | 327.70 | 312.55 | 308.03 | 300.75 |
| Reconciled Depreciation | - | 613 | 622 | 674 | 729 |
| Reconciled Cost Of Revenue | - | 24,239 | 25,675 | 28,811 | 32,984 |
| Total Unusual Items | - | 183 | 27 | 142 | 457 |
| Total Unusual Items Excluding Goodwill | - | 183 | 27 | 142 | 457 |
| Minority Interests | - | -17 | -41 | -68 | -120 |
| Special Income Charges | - | -61 | 0 | 0 | -2 |
| Other Special Charges | - | 2 | - | - | 2 |
| Write Off | 0 | 58.71 | - | - | - |
| Impairment Of Capital Assets | 0 | 59 | 0 | 0 | - |
| Gain On Sale Of Security | - | 244 | 27 | 142 | 459 |
| Depreciation Amortization Depletion Income Statement | - | 613 | 622 | 674 | 729 |
| Depreciation And Amortization In Income Statement | - | 613 | 622 | 674 | 729 |
| Total Other Finance Cost | - | 69 | 149 | 215 | 216 |
| Other Operating Expenses | - | 4,649 | 4,562 | 5,011 | 5,543 |
| Earnings From Equity Interest | - | 229 | 248 | -19 | 40 |
Real Estate sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| CBRE Group, Inc.this co. | CBRE | $38.3B | 33.14 | 4.32 | 13.0% | 22.97 |
| Public Storage | PSA | $53.8B | 30.17 | 10.99 | 36.4% | 19.64 |
| Crown Castle Inc. | CCI | $40.9B | 92.20 | -25.04 | -27.2% | 25.60 |
| Iron Mountain Incorporated | IRM | $38.8B | 268.02 | -39.50 | -14.7% | 27.26 |
| Ventas, Inc. | VTR | $38.5B | 152.98 | 3.07 |
| - |
| - |
| - |
| - |
| - |
| 2.0% |
| 22.43 |
| Extra Space Storage Inc. | EXR | $32.2B | 33.05 | 2.40 | 7.3% | 19.07 |
| VICI Properties Inc. | VICI | $29.3B | 10.56 | 1.05 | 10.0% | 12.66 |
| AvalonBay Communities, Inc. | AVB | $26.8B | 25.53 | 2.31 | 9.1% | 16.22 |
| Equity Residential | EQR | $26.2B | 23.42 | 2.38 | 10.2% | 13.85 |
| Peer Median | - | 31.61 | 2.35 | 8.2% | 19.36 | |