CBRE Group

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

                    Revenue
                    FY2025
                
$39.9B
                    3y CAGR +9.8%
                    
                    P67
                    
                    +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
                    
                    -8.7%

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

1Y 3Y 5Y 10Y

Dollars % of revenue % of assets YoY % CAGR

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	$1.9B 67.3%	$1.1B -11.9%	$1.3B -4.0%	$1.3B -45.8%	$2.4B
Short Term Investments	$47.0M	$0	$0	$0	$0
Accounts Receivable	$8.3B 18.3%	$7.0B 10.0%	$6.4B 19.6%	$5.3B 3.4%	$5.2B
Prepaid Expenses	$372.0M 12.0%	$332.0M -0.3%	$333.0M 6.9%	$311.5M -6.7%	$333.9M
Other Current Assets	$552.0M 72.0%	$321.0M 1.9%	$315.0M -43.4%	$557.0M 49.9%	$371.7M
Total Current Assets	$13.5B 35.3%	$10.0B 3.1%	$9.7B 13.3%	$8.5B -15.4%	$10.1B
Property,Plant and Equipment	$1.0B 14.8%	$914.0M 0.8%	$907.0M 8.5%	$836.0M 2.4%	$816.1M
Operating Lease Assets	$2.1B 72.1%	$1.2B 16.3%	$1.0B -0.3%	$1.0B -1.3%	$1.0B
Goodwill	$7.1B 25.4%	$5.6B 9.6%	$5.1B 5.4%	$4.9B -2.5%	$5.0B
Intangible Assets	$3.0B 29.3%	$2.3B 10.4%	$2.1B -5.1%	$2.2B -9.0%	$2.4B
Long Term Investments	$870.0M -32.8%	$1.3B -5.7%	$1.4B 4.3%	$1.3B 10.2%	$1.2B
Deferred Tax Assets	$697.0M 29.6%	$538.0M 49.0%	$361.0M 35.9%	$265.6M 69.1%	$157.0M
Other Noncurrent Assets	$1.8B -2.6%	$1.9B 21.5%	$1.5B 39.4%	$1.1B 26.7%	$875.7M
Total Assets	$30.9B 26.6%	$24.4B 8.1%	$22.5B 9.9%	$20.5B -7.1%	$22.1B
Liabilities
Accounts Payable	$8.3B 18.3%	$7.0B 10.0%	$6.4B 19.6%	$5.3B 3.4%	$5.2B
Accrued Liabilities	$4.8B 17.9%	$4.1B 15.2%	$3.6B 15.7%	$3.1B 5.6%	$2.9B
Deferred Revenue	$448.0M 19.5%	$375.0M 26.0%	$297.6M 7.7%	$276.3M -1.5%	$280.7M
Current Portion of Long Term Debt	$71.0M 97.2%	$36.0M 300.0%	$9.0M -97.9%	$427.8M	$0
Operating Lease Liabilities	$284.0M 42.0%	$200.0M -17.4%	$242.0M 5.4%	$229.6M -1.2%	$232.4M
Other Current Liabilities	$447.0M 29.6%	$345.0M 58.3%	$218.0M -3.6%	$226.2M 13.4%	$199.4M
Total Current Liabilities	$12.3B 32.7%	$9.3B 12.7%	$8.2B 0.0%	$8.2B -2.1%	$8.4B
Long Term Debt	$5.0B 55.6%	$3.2B 15.7%	$2.8B 158.3%	$1.1B -29.4%	$1.5B
Operating Lease Liabilities Noncurrent	$2.1B 62.3%	$1.3B 20.0%	$1.1B 0.8%	$1.1B -3.2%	$1.1B
Deferred Tax Liabilities	$238.0M -3.6%	$247.0M -3.1%	$255.0M -9.6%	$282.1M -30.4%	$405.3M
Other Noncurrent Liabilities	$1.3B 41.7%	$945.0M 4.7%	$903.0M -10.9%	$1.0B -2.1%	$1.0B
Total Liabilities	$21.3B 39.9%	$15.2B 12.7%	$13.5B 13.2%	$11.9B -6.3%	$12.7B
Equity
Common Stock	$3.0M 0.0%	$3.0M 0.0%	$3.0M -3.5%	$3.1M -6.6%	$3.3M
Additional Paid In Capital	$0	$0	$0	$0 -100.0%	$798.9M
Retained Earnings	$9.9B 3.6%	$9.6B 4.1%	$9.2B 4.0%	$8.8B 5.6%	$8.4B
Accumulated Other Comprehensive Income	$-1.0B 10.2%	$-1.2B -25.4%	$-924.0M 6.0%	$-982.8M -53.4%	$-640.7M
Noncontrolling Interest	$315.0M -59.7%	$781.0M -2.4%	$800.0M 6.3%	$752.5M -9.4%	$830.9M
Total Stockholders Equity	$8.9B 5.6%	$8.4B 1.7%	$8.3B 5.3%	$7.9B -7.9%	$8.5B
Total Liabilitiesand Equity	$30.9B 26.6%	$24.4B 8.1%	$22.5B 9.9%	$20.5B -7.1%	$22.1B

Income Statement

Revenue, expense, and profitability

17 accounts · 5 years

Revenue $39.9B

Operating income $1.8B

Net income $1.2B

Account	2025	2024	2023	2022	2021
IncomeStatement
Revenues Total Revenue	$39.9B 13.4%	$35.2B 11.7%	$31.5B 4.4%	$30.2B 12.0%	$26.9B
Expenses Cost of Revenue	$33.0B 14.5%	$28.8B 12.2%	$25.7B 5.9%	$24.2B 12.3%	$21.6B
Expenses Selling,General and Administrative	$89.0M 8.5%	$82.0M 10.8%	$74.0M -12.9%	$85.0M 23.4%	$68.9M
Expenses Depreciation and Amortization	$729.0M 8.2%	$674.0M 8.4%	$622.0M 1.5%	$613.0M 16.5%	$526.0M
Expenses Share Based Compensation	$120.0M -17.8%	$146.0M 52.1%	$96.0M -40.0%	$160.0M -13.5%	$185.0M
Other Income Expense Operating Income	$1.8B 24.1%	$1.4B 26.5%	$1.1B -26.1%	$1.5B -7.6%	$1.6B
Other Income Expense Interest Income	$-216.0M -0.5%	$-215.0M -44.3%	$-149.0M -115.9%	$-69.0M	—
Other Income Expense Interest Expense	$4.0M 33.3%	$3.0M 200.0%	$1.0M 0.0%	$1.0M -23.1%	$1.3M
Other Income Expense Other Income/expense	$19.0M -51.3%	$39.0M -36.1%	$61.0M 608.3%	$-12.0M -105.9%	$204.0M
Other Income Expense Income Before Tax	$1.6B 30.9%	$1.2B -4.6%	$1.3B -23.0%	$1.7B -31.2%	$2.4B
Income Tax Income Tax Expense	$317.0M 74.2%	$182.0M -27.2%	$250.0M 6.8%	$234.0M -58.8%	$568.0M
net Income net Income	$1.2B 19.5%	$968.0M -1.8%	$986.0M -29.9%	$1.4B -23.4%	$1.8B
net Income Comprehensive Income	$1.3B 73.9%	$733.0M -29.9%	$1.0B -2.0%	$1.1B -38.2%	$1.7B
Earnings Per Share Basic Eps	$4 22.8%	$3 -1.3%	$3 -26.6%	$4 -20.4%	$5
Earnings Per Share Diluted Eps	$4 22.6%	$3 -0.3%	$3 -26.6%	$4 -20.7%	$5
Earnings Per Share Weighted Average Shares Basic	$298.2M -2.5%	$305.9M -0.8%	$308.4M -4.5%	$322.8M -3.7%	$335.2M
Earnings Per Share Weighted Average Shares Diluted	$300.8M -2.4%	$308.0M -1.4%	$312.6M -4.6%	$327.7M -3.5%	$339.7M

Cash Flow Statement

Operating, investing, and financing flows

17 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	$1.2B 19.5%	$968.0M -1.8%	$986.0M -29.9%	$1.4B -23.4%	$1.8B
Operating Activities Depreciation and Amortization	$729.0M 8.2%	$674.0M 8.4%	$622.0M 1.5%	$613.0M 16.5%	$526.0M
Operating Activities Stock Based Compensation	$120.0M -17.8%	$146.0M 52.1%	$96.0M -40.0%	$160.0M -13.5%	$185.0M
Operating Activities Deferred Income Taxes	$-269.0M -38.7%	$-194.0M -60.3%	$-121.0M 70.6%	$-411.0M -573.8%	$-61.0M
Operating Activities Changes In Operating Assets and Liabilities	$73.0M	$0	$0	$0	$0
Operating Activities net Cash From Operating Activities	$1.6B -8.7%	$1.7B 255.8%	$480.0M -70.5%	$1.6B -31.1%	$2.4B
Investing Activities Other Investing Activities	$-155.0M -3.3%	$-150.0M -212.5%	$-48.0M -147.5%	$101.0M 320.8%	$24.0M
Investing Activities net Cash From Investing Activities	$-1.6B -7.5%	$-1.5B -122.3%	$-681.0M 18.1%	$-832.0M 35.1%	$-1.3B
Financing Activities Proceeds From Debt	$0 -100.0%	$4.2B 4.2%	$4.0B	$0 -100.0%	$492.3M
Financing Activities Repayment of Debt	$132.0M -96.7%	$4.0B -3.4%	$4.2B	$0	$0
Financing Activities Repurchase of Common Stock	$968.0M 54.4%	$627.0M -5.7%	$665.0M -64.1%	$1.9B 401.4%	$369.0M
Financing Activities Other Financing Activities	$-521.0M -34.6%	$-387.0M -33.9%	$-289.0M -1213.6%	$-22.0M 50.0%	$-44.0M
Financing Activities net Cash From Financing Activities	$796.0M 460.2%	$-221.0M -243.5%	$154.0M 108.7%	$-1.8B -260.4%	$-490.0M
Cash Reconciliation Effect of Exchange Rate On Cash	$2.0B 64.9%	$1.2B -10.9%	$1.4B -2.4%	$1.4B -44.7%	$2.5B
Cash Reconciliation net Change In Cash	$793.0M 628.7%	$-150.0M -341.2%	$-34.0M 97.0%	$-1.1B -326.5%	$501.0M
Cash Reconciliation Cash At Beginning of Period	$2.0B 64.9%	$1.2B -10.9%	$1.4B -2.4%	$1.4B -44.7%	$2.5B
Cash Reconciliation Cash At End of Period	$2.0B 64.9%	$1.2B -10.9%	$1.4B -2.4%	$1.4B -44.7%	$2.5B

Key Ratios

Margins, returns, liquidity, leverage, efficiency

Computed at import · 5 years

Ratio	2025	2024	2023	2022	2021
Profitability
Gross margin	+17.3%	+18.1%	+18.5%	+19.7%	+19.9%
Operating margin	+4.4%	+4.0%	+3.5%	+5.0%	+6.1%
Net margin	+2.9%	+2.8%	+3.1%	+4.7%	+6.8%
FCF margin	—	—	—	+4.5%	+8.0%
Growth
Revenue CAGR (3y)	+9.8%	+9.3%	+10.8%	+9.0%	+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	+11.6%	+11.4%	+9.2%	+16.1%	+16.4%
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	438.25x	471.00x	1117.00x	1512.00x	1258.26x
Efficiency
Asset turnover	1.29x	1.44x	1.40x	1.47x	1.22x
Cash conversion cycle	—	—	—	—	—

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CBRE Group

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