CBRE Group

Real Estate Real Estate Services Dallas, Texas Last filing Feb 12, 2026 · FY2025

                    Revenue
                    FY2025
                
$40.5B
                    3y CAGR +9.6%
                    
                    P69
                    
                    +13.4%
                    
                    Net income
                    FY2025
                
$1.2B
                    Net margin +2.9%
                    
                    P17
                    
                    +19.5%
                    
                    Total assets
                    FY2025
                
$30.9B
                    ROA +3.7%
                    
                    P61
                    
                    +26.6%
                    
                    Operating cash flow
                    FY2025
                
$1.6B
                    FCF margin +2.9%
                    
                    P59
                    
                    -8.7%

18 yrs · FY2008–FY2025 9 filed · 0 derived · 0 blank

1Y 3Y 5Y 10Y

Dollars % of revenue % of assets YoY % CAGR

Each cell as a share of that year’s total assets.

Balance Sheet

Assets, liabilities, and equity

33 accounts · 5 years

Total assets $30.9B

Total liabilities $21.3B

Shareholders equity $8.9B

Account	2025	2024	2023	2022	2021
Assets
Cash and Cash Equivalents	6.0%	4.6%	5.6%	6.4%	11.0%
Accounts Receivable	26.8%	28.7%	28.3%	26.0%	23.3%
Prepaid Expenses	1.2%	1.4%	1.5%	1.5%	1.5%
Other Current Assets	9.6%	6.2%	7.5%	7.7%	9.8%
Total Current Assets	43.7%	40.9%	42.9%	41.6%	45.7%
Property,Plant and Equipment	3.4%	3.7%	4.0%	4.1%	3.7%
Operating Lease Assets	6.7%	4.9%	4.6%	5.0%	4.7%
Goodwill	22.8%	23.1%	22.7%	23.7%	22.6%
Intangible Assets	9.7%	9.4%	9.3%	10.7%	10.9%
Long Term Investments	2.8%	5.3%	6.1%	6.4%	5.4%
Deferred Tax Assets	2.3%	2.2%	1.6%	1.3%	0.7%
Other Noncurrent Assets	8.7%	10.5%	8.9%	7.2%	6.2%
Total Assets	100.0%	100.0%	100.0%	100.0%	100.0%
Liabilities
Accounts Payable	15.7%	16.8%	15.8%	15.0%	13.2%
Accrued Liabilities	12.2%	13.6%	14.3%	16.3%	15.8%
Deferred Revenue	1.5%	1.5%	1.3%	1.3%	1.3%
Current Portion of Long Term Debt	8.2%	3.3%	3.1%	4.3%	5.8%
Operating Lease Liabilities	0.9%	0.8%	1.1%	1.1%	1.1%
Other Current Liabilities	1.4%	2.0%	1.0%	2.2%	1.1%
Total Current Liabilities	39.9%	38.1%	36.6%	40.2%	38.1%
Long Term Debt	16.4%	13.3%	12.4%	5.3%	7.0%
Operating Lease Liabilities Noncurrent	6.9%	5.4%	4.8%	5.3%	5.1%
Deferred Tax Liabilities	0.8%	1.0%	1.1%	1.4%	1.8%
Other Noncurrent Liabilities	4.9%	4.5%	4.8%	5.9%	5.6%
Total Liabilities	68.8%	62.3%	59.8%	58.0%	57.6%
Equity
Common Stock	0.0%	0.0%	0.0%	0.0%	0.0%
Additional Paid In Capital	0.0%	0.0%	0.0%	0.0%	3.6%
Retained Earnings	32.1%	39.2%	40.7%	43.1%	37.9%
Accumulated Other Comprehensive Income	-3.4%	-4.8%	-4.1%	-4.8%	-2.9%
Total Stockholders Equity	28.8%	34.5%	36.7%	38.3%	38.6%
Noncontrolling Interest	1.0%	3.2%	3.5%	3.7%	3.8%
Temporary Equity and Other	1.4%	0.0%	—	—	—
Total Liabilitiesand Equity	100.0%	100.0%	100.0%	100.0%	100.0%

Income Statement

Revenue, expense, and profitability

14 accounts · 5 years

Revenue $40.5B

Operating income $1.8B

Net income $1.2B

Account	2025	2024	2023	2022	2021
IncomeStatement
Revenues Total Revenue	131.3%	146.7%	141.7%	150.3%	125.7%
Expenses Cost of Revenue	106.8%	118.2%	113.9%	118.2%	97.8%
Expenses Depreciation and Amortization	2.4%	2.8%	2.8%	3.0%	2.4%
Expenses Other Operating Expenses	16.5%	20.0%	20.1%	21.8%	18.1%
Other Income Expense Operating Income	5.7%	5.8%	5.0%	7.4%	7.4%
Other Income Expense Other Income/expense	-0.5%	-0.8%	0.7%	0.7%	3.5%
Other Income Expense Income Before Tax	5.2%	5.0%	5.7%	8.1%	10.9%
Income Tax Income Tax Expense	1.0%	0.7%	1.1%	1.1%	2.6%
net Income Other Items Below Tax	-0.4%	-0.3%	-0.2%	-0.1%	-0.0%
net Income net Income	3.7%	4.0%	4.4%	6.9%	8.3%
net Income Comprehensive Income	4.1%	3.0%	4.6%	5.2%	7.8%
Earnings Per Share Basic Eps	0.0%	0.0%	0.0%	0.0%	0.0%
Earnings Per Share Diluted Eps	0.0%	0.0%	0.0%	0.0%	0.0%
Earnings Per Share Weighted Average Shares Diluted	1.0%	1.3%	1.4%	1.6%	1.5%

Cash Flow Statement

Operating, investing, and financing flows

19 accounts · 5 years

Operating cash flow $1.6B

Investing cash flow $-1.6B

Financing cash flow $796.0M

Account	2025	2024	2023	2022	2021
CashFlow
Operating Activities net Income	4.1%	4.2%	4.6%	6.9%	8.3%
Operating Activities Depreciation and Amortization	3.0%	3.6%	3.5%	3.0%	2.4%
Operating Activities Stock Based Compensation	0.4%	0.6%	0.4%	0.8%	0.8%
Operating Activities Deferred Income Taxes	-0.9%	-0.8%	-0.5%	—	—
Operating Activities Changes In Operating Assets and Liabilities	3.2%	-0.1%	-3.2%	-7.4%	0.3%
Operating Activities Other Non Cash Items	-4.8%	-0.5%	-2.6%	4.6%	-1.2%
Operating Activities net Cash From Operating Activities	5.0%	7.0%	2.1%	7.9%	10.7%
Investing Activities Capital Expenditures	-1.2%	-1.3%	-1.4%	-1.3%	-1.0%
Investing Activities Business Acquisitions	-4.4%	-4.4%	-0.9%	-0.8%	-3.5%
Investing Activities Purchases of Investments	-0.5%	-0.6%	-0.6%	-1.9%	-2.5%
Investing Activities Other Investing Activities	0.9%	-0.0%	-0.2%	-0.1%	0.2%
Investing Activities net Cash From Investing Activities	-5.3%	-6.2%	-3.0%	-4.1%	-5.8%
Financing Activities Proceeds From Debt	10.0%	19.9%	25.4%	8.9%	0.5%
Financing Activities Repayment of Debt	-2.6%	-16.6%	-20.5%	-8.1%	-1.9%
Financing Activities Repurchase of Common Stock	-3.1%	-2.6%	-2.9%	-9.0%	-1.7%
Financing Activities Other Financing Activities	-1.7%	-1.6%	-1.3%	-0.3%	-1.2%
Financing Activities net Cash From Financing Activities	2.6%	-0.9%	0.7%	-8.6%	-2.2%
Cash Reconciliation Effect of Exchange Rate On Cash	0.2%	-0.5%	0.1%	-0.8%	-0.4%
Cash Reconciliation net Change In Cash	2.6%	-0.6%	-0.2%	-5.5%	2.3%

Key Ratios

Margins, returns, liquidity, leverage, efficiency

Computed at import · 5 years

Ratio	2025	2024	2023	2022	2021
Profitability
Gross margin	+18.7%	+19.4%	+19.6%	+21.4%	+22.2%
Operating margin	+4.3%	+4.0%	+3.5%	+4.9%	+5.9%
Net margin	+2.9%	+2.7%	+3.1%	+4.6%	+6.6%
FCF margin	+2.9%	+3.9%	+0.5%	+4.4%	+7.8%
Growth
Revenue CAGR (3y)	+9.6%	+8.8%	+10.3%	+8.9%	+9.1%
Returns
ROE	+13.0%	+11.5%	+11.9%	+17.9%	+21.5%
ROA	+3.7%	+4.0%	+4.4%	+6.9%	+8.3%
ROIC	+9.6%	+10.6%	+8.6%	+15.3%	+14.0%
Liquidity
Current ratio	1.09x	1.07x	1.17x	1.03x	1.20x
Quick ratio	0.82x	0.87x	0.93x	0.81x	0.90x
Leverage
D/E	2.39x	1.81x	1.63x	1.52x	1.49x
Interest coverage	—	—	—	—	—
Efficiency
Asset turnover	1.31x	1.47x	1.42x	1.50x	1.26x
Cash conversion cycle	—	—	—	—	—

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CBRE Group

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