CBRE
CBRE Group, Inc.
CBRE's fundamentals are mixed: revenue grew 14%, while its operating margin held steady at 4.6%. At 28x earnings, it's trading right at its usual valuation. Analysts expect earnings growth, though they disagree widely on how much.
CBRE Fundamentals
| Metric | Status |
|---|---|
| Healthy | |
| Healthy | |
| N/A | |
| N/A |
CBRE's revenue and profitability are currently healthy. Free cash flow and net leverage aren't meaningful measures for real estate companies like CBRE.
CBRE PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Cheap | 14x | $65.93 | -50% |
| Forward | 16x | $133 | — |
| Fair | 28x | $130 | -1.6% |
| Current | 28x | $133 | — |
| Expensive | 41x | $190 | +43% |
Historical ranges are pointers, not guarantees.
CBRE's PE is in its fair range at 28x. If earnings grow as analysts expect, today's price would be 16x next year's earnings, in its cheap range.
CBRE Forward outlook
| Metric | Outlook |
|---|---|
| Strongly improving | |
| Growth | |
| Growth | |
| Stable | |
| Limited | |
| Low |
Analysts expect earnings and revenue growth for CBRE, with profitability holding steady. However, they disagree widely on these estimates.
CBRE Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $8.33 | +79% |
| Q3 2026 | $4.66 | +15% |
| Q2 2026 | $4.35 | +22% |
| Q1 2026 | $4.38 | +34% |
| Q4 2025 | $3.85 | +23% |
| Q3 2025 | $4.05 | +31% |
| Q2 2025 | $3.57 | +20% |
| Q1 2025 | $3.27 | +2.5% |
| Q4 2024 | $3.14 | -0.3% |
CBRE earned $4.66 per share over the past year, up 15% from the year before.
CBRE Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $11.5B | +12% |
| Q2 2026 | $11.2B | +15% |
| Q1 2026 | $10.5B | +18% |
| Q4 2025 | $11.6B | +12% |
| Q3 2025 | $10.3B | +14% |
| Q2 2025 | $9.8B | +16% |
| Q1 2025 | $8.9B | +12% |
| Q4 2024 | $10.4B | +16% |
CBRE's revenue has grown year over year for 13 quarters in a row: $11.5B last quarter, up 12% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 4.9% | +0.2 points |
| Q2 2026 | 3.3% | -0.6 points |
| Q1 2026 | 4.8% | +1.7 points |
| Q4 2025 | 5.3% | -0.4 points |
| Q3 2025 | 4.7% | +0.6 points |
| Q2 2025 | 3.8% | +0.9 points |
| Q1 2025 | 3.1% | +0.5 points |
| Q4 2024 | 5.7% | +0.1 points |
CBRE's operating margin was 4.9% last quarter, about level with the same quarter a year ago.
CBRE Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $743M | 0% |
| Q2 2026 | $24M | +$41M |
| Q1 2026 | -$906M | -$296M |
| Q4 2025 | $1.1B | -14% |
| Q3 2025 | $743M | +50% |
| Q2 2025 | -$17M | -108% |
| Q1 2025 | -$610M | -$50M |
| Q4 2024 | $1.2B | +64% |
CBRE's free cash flow was $938M over the past year, down 31% from the year before. Free cash flow isn't a meaningful measure for real estate companies like CBRE.
CBRE Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | -0.8% | -2.2M shares |
| 1 year | -2.9% | -8.6M shares |
| 3 years | -6.6% | -20.6M shares |
| 5 years | -14% | -48.7M shares |
| Available history | -14% | -48.9M shares |
CBRE has 292M diluted shares, down 2.9% from a year ago, with $1.4B in buybacks over the past year.
| Quarter | Spent |
|---|---|
| Q3 2026 | $218M |
| Q2 2026 | $410M |
| Q1 2026 | $530M |
| Q4 2025 | $288M |
| Q3 2025 | — |
| Q2 2025 | $262M |
| Q1 2025 | $418M |
| Q4 2024 | $517M |
CBRE spent $1.4B buying back its own shares over the past year, up 21% from the year before.
CBRE Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | 2.2x | Moderate |
| Q2 2026 | 2.4x | Moderate |
| Q1 2026 | 2.3x | Moderate |
| Q4 2025 | 2.3x | Moderate |
| Q3 2025 | 2.2x | Moderate |
| Q2 2025 | 2.5x | Moderate |
| Q1 2025 | 2.4x | Moderate |
| Q4 2024 | 1.5x | Healthy |
CBRE's net debt is about 2.2 years of its operating earnings (EBITDA), about the same as a year ago. Net leverage isn't a meaningful measure for real estate companies like CBRE.
CBRE Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 45.1 | Neutral |
| Stochastic | 30.9 | Neutral |
CBRE's weekly RSI is 45 (neutral) and its Stochastic is 31 (neutral).
CBRE PE vs Real Estate Sector
| Metric | CBRE | Sector median | Relative |
|---|---|---|---|
| PE | 28x | 24x | 19% above |
| PE % | 51 | 23 | 28 pts above |
CBRE is trading at 28x earnings, a 19% premium to the Real Estate sector's median of 24x.
CBRE Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $131.0 | 1.2% above |
| 20 week MA | $139.4 | 4.9% below |
| 50 week MA | $144.0 | 7.9% below |
| 100 week MA | $142.7 | 7.1% below |
| 200 week MA | $117.3 | 13% above |
CBRE's trend is mixed: it's above two of its five weekly moving averages, and 13% above its 200-week average.
CBRE Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $61.0 | $62.9 | +3.2% |
| 2021 | $62.9 | $105.8 | +68% |
| 2022 | $105.8 | $76.7 | -28% |
| 2023 | $76.7 | $93.1 | +21% |
| 2024 | $93.1 | $130.6 | +40% |
| 2025 | $130.6 | $164.7 | +26% |
| 2026 YTD | $164.7 | $132.5 | -20% |
CBRE has finished higher in five of the last six years. It's down 20% so far in 2026.