Cbre Group, Inc. (CBRE)
Real Estate · Real Estate Services · US stock · S&P 500 component
$131.24
▼ -3.41 (2.53%)
Fair valueFair
$140 +6.6% to fair value
$70fair band $119–$170$210
Day's range
$129.15 – $134.40
52-week range
$121.69 – $174.27
About Cbre Group, Inc.
CBRE Group is a commercial real estate services and investment firm. It helps clients lease, acquire, dispose of, manage and finance properties, and it operates facilities for corporate occupiers. Revenue comes from brokerage commissions, fees for property and facilities management, project management fees, and investment management and development activities. Transaction volumes in leasing and capital markets can move its results noticeably with the property cycle.
The X-Ray Score for Cbre Group, Inc. is 57 out of 100. Revenue over the last twelve months was $43.6 billion, and it expanded at 9.6% a year across three years. The business shows an operating margin of 4.5% and a return on invested capital of 10%. Leverage, measured as net debt to EBITDA, is 2.4 times. The company does not pay a dividend.
Price chart
52-wk range $121.69 – $174.27Volume 5,522,017Daily, split-adjusted
Vitals
Market cap$38.6B
52-week range$121.69 – $174.27
Volume (last day)5,522,017
P/E (TTM)30.1
EBIT / EV yield4.4%
Free-cash-flow yield2.4%
Dividend yieldNo dividend
Revenue (TTM)$43.6B
Net income (TTM)$1.3B
Operating margin4.5%
Return on capital10.4%
Debt incl. leases$8.1B
Cash & securities$1.5B
Debt = borrowings plus lease liabilities. Cash & securities = cash, equivalents and short-term marketable securities (long-term securities are not counted, so net cash can be understated for companies that hold large long-term investments). Net debt = debt minus cash & securities. Source: latest SEC 10-Q/10-K. EBIT / EV yield = operating profit divided by market cap plus net debt.
Fair value estimate
$140middle half of models $112 – $163
Fair
+6.6% to fair value
Average of the 11 valuation models that pass our checks: multiples, discounted cash flow, dividend discount and earnings power value. A model more than 100% above or 60% below the price is left out as unrealistic. Model uncertainty is Medium, based on how far apart the models are. Undervalued or Overvalued means the gap to fair value is more than 17.5%.
Price $131
Undervalued < $119Fair $119 – $170Overvalued > $170
P/E multiple
$132
P/B multiple
$117
P/S multiple · not used
$353
EV/EBITDA multiple
$135
EV/EBIT multiple
$149
EV/revenue multiple · not used
$314
10-year DCF, EBITDA exit
$165
5-year DCF, EBITDA exit
$161
10-year DCF, revenue exit
$190
5-year DCF, revenue exit
$190
10-year DCF, growth exit
$107
5-year DCF, growth exit
$94
Earnings power value
$98
Growth the price implies
16.9%/yr
A model estimate, not a price target or recommendation. Inputs: risk-free 5.13%, equity risk premium 4.30% (Damodaran). How it works.
What this means
Average business, fairly priced
The price sits inside our fair-value band. A high score does not guarantee a good outcome; it shifts the odds a little. Use the checklist as a prompt for your own research.
Before you invest · decision checklist
Ticked boxes are filled in from our data; the rest are yours to answer.
The five-lens scan
Every score explained in one sentence, ranked against Real Estate peers. Open a lens to see the numbers behind it.
Strong: 70 to 100Fair: 50 to 69Weak: under 50No score: not enough data
Valuation
Weak
49/100
Expensive against its sector on earnings and cash flow.
See the numbers →
EBIT / EV yield4.4%
Free-cash-flow yield2.4%
Fair value vs price1.1×
Growth
Fair
58/100
Growing at a typical pace for its sector.
See the numbers →
Revenue growth (3y)9.6%
EPS growth (3y)-3.5%
Growth consistency100%
Profitability
Fair
58/100
Returns on capital are typical for its sector.
See the numbers →
Return on invested capital10.4%
Operating margin4.5%
Gross profitability26.4%
Financial health
Fair
64/100
Balance sheet is in typical shape for its sector.
See the numbers →
Piotroski F-Score5 / 9
Net debt / EBITDA2.4×
Interest coverNo interest cost
Dividends
None
–/100
Pays no dividend.
See the numbers →
Quarterly results: last 6 quarters
+11.8%
Mar '25
+15.8%
Jun '25
+13.5%
Sep '25
+11.8%
Dec '25
+18.6%
Mar '26
+15.5%
Jun '26
Revenue against the same quarter a year earlier. Latest quarter revenue $11.2B, diluted EPS $0.69.
SWOT analysis: Cbre Group, Inc.
Strengthsinside the company
- Return on invested capital is 10.4%, against a median of 7.3% for sector peers.
- Operating profit covers interest 50x, so debt costs are a small drag.
Weaknessesinside the company
- Operating margin of 4.5% is thin against 36.0% for sector peers.
Opportunitiesvaluation and setting
- No specific opportunity is visible in our valuation, sector or growth data.
Threatsvaluation and setting
- Our Market Compass rates the backdrop for Real Estate as unfavourable.
Written by fixed rules from the figures on this page and the peer table below: filings, our fair value, the sector climate and the price trend. It summarises the data, it is not a forecast or advice.
Compare CBRE with peers and sector
Medians of 28 Real Estate peers and of 28 Real Estate stocks in our universe.
Largest peers (X-Ray Score): WELL 48, PLD 43, EQIX 51, AMT 53, SPG 42, DLR 37.
| Metric | CBRE | Peers | Sector |
|---|---|---|---|
| X-Ray Score (out of 100) | 57 | 51 | 51 |
| Valuation | 49 | 53 | 53 |
| Growth | 58 | 56 | 56 |
| Profitability | 58 | 50 | 50 |
| Financial health | 63 | 53 | 53 |
| Dividends | – | 47 | 47 |
Sector leaders: highest X-Ray Score in Real Estate
CBRE ranks #8 of 29 in Real Estate by X-Ray Score. A higher score is stronger on our five pillars; it is a ranking of facts, not a forecast.
Green means better than the peer median, red worse (only where a higher or lower figure is clearly better). A dash means too few companies report the figure. P/E, EV/EBITDA and price changes are not graded: a different level is not good or bad by itself.
Factor ratings for CBRE
Each factor is rated by where CBRE stands among the 29 Real Estate stocks in our universe.
Rating against the sector
Goodthe top third of these stocks
Averagethe middle third of these stocks
Badthe bottom third of these stocks
"Beats" is the share of those stocks it is ahead of.
Against its own history
The last columns set today's figure against the company's own median of its last five financial years:
▲ Betterbetter than its usual level
▼ Worseworse than its usual level
≈ In linewithin its usual range
For valuation factors Good means cheaper than most of the sector and Better means cheaper than usual for this company, which is not the same as a bargain.
In total: 7 Good · 4 Average · 11 Bad of 22
Growth: 2 · 1 · 0
Profitability: 2 · 0 · 3
Financial strength: 2 · 1 · 1
Valuation: 1 · 2 · 2
Cash flow: 0 · 0 · 4
Efficiency: 0 · 0 · 1
| Factor | CBRE | Rating | Sector median | Own 5-year median | Against own history |
|---|---|---|---|---|---|
| Growth | |||||
| Revenue growth, 3 years a year | +9.6% | Good beats 67% | +6.8% | – | – |
| Revenue growth, last year | +13.4% | Good beats 88% | +5.1% | +12.0% | ≈ In line |
| EPS growth, 3 years a year | −3.5% | Average beats 48% | −1.9% | – | – |
| Profitability | |||||
| Gross margin | 18.4% | Bad beats 10% | 47.1% | 19.6% | ≈ In line |
| Operating margin | 4.5% | Bad beats 6% | 34.3% | 4.3% | ≈ In line |
| Net margin | 3.0% | Bad beats 9% | 21.5% | 3.1% | ≈ In line |
| Return on invested capital | 10.4% | Good beats 81% | 7.5% | – | – |
| Return on equity | 15.5% | Good beats 83% | 7.3% | 13.0% | ▲ Better |
| Financial strength | |||||
| Net debt / EBITDA | 2.4x | Good beats 75% | 4.6x | 1.3x | ▼ Worse |
| Interest cover | 50.0x | Good beats 92% | 3.4x | – | – |
| Current ratio | 1.14 | Average beats 44% | 1.22 | 1.09 | ≈ In line |
| Piotroski F-score | 5 / 9 | Bad beats 28% | 6 / 9 | – | – |
| Valuation | |||||
| P/E ratio | 29.6x | Average beats 59% | 32.1x | 29.5x | ≈ In line |
| Price / book | 4.6x | Bad beats 17% | 2.6x | 4.3x | ≈ In line |
| Price / sales | 0.9x | Good beats 98% | 7.0x | 1.1x | ≈ In line |
| EV / EBITDA | 16.7x | Average beats 60% | 18.6x | 18.0x | ≈ In line |
| Free cash flow yield | 2.4% | Bad beats 23% | 4.1% | 3.5% | ▼ Worse |
| Cash flow | |||||
| Free cash flow margin | 2.1% | Bad beats 5% | 44.6% | 3.9% | ▼ Worse |
| Cash from operations / net income | 1.05 | Bad beats 9% | 1.91 | 1.29 | ▼ Worse |
| Free cash flow growth, 3 years a year | −4.5% | Bad beats 21% | +11.7% | – | – |
| Accruals (lower is better) | −0.2% | Bad beats 9% | −3.7% | – | – |
| Efficiency | |||||
| Days sales outstanding | 73 days | Bad beats 20% | 53 days | 71 days | ≈ In line |
These ratings compare companies with each other and describe the past; they are not a forecast, a recommendation or part of the X-Ray Score. A factor is left out when its data is missing or meaningless (for example a P/E on negative earnings). A dash in the history columns means fewer than three usable years.
Fundamentals checklist
● 8 Good · ● 3 Average · ● 5 BadCash quality
Earnings backed by cashBad
Free-cash-flow yieldBad
Risk models
Altman Z''Good
Piotroski F-ScoreBad
Growth
EPS growth (3y)Average
Free-cash-flow growth (3y)Bad
Revenue growth (3y)Good
Growth consistencyGood
Balance sheet
Current ratioGood
Net debt / EBITDAGood
Interest coverGood
Valuation
Fair value vs priceAverage
EBIT / EV yieldAverage
Profitability
Return on invested capitalGood
Operating marginBad
Gross profitabilityGood
Each check is graded against the company's sector, not a fixed number. Checklist score 53/100.
Financials
| FY21 | FY22 | FY23 | FY24 | FY25 | |
|---|---|---|---|---|---|
| Revenue | $27.7B | $30.8B | $31.9B | $35.8B | $40.6B |
| Operating income | $1.6B | $1.5B | $1.1B | $1.4B | $1.8B |
| Net income | $1.8B | $1.4B | $986M | $968M | $1.2B |
| Operating cash flow | $2.4B | $1.6B | $480M | $1.7B | $1.6B |
| Operating margin | 5.9% | 4.9% | 3.5% | 4.0% | 4.3% |
| Free cash flow | $2.2B | $1.4B | $175M | $1.4B | $1.2B |
| Diluted EPS | $5.41 | $4.29 | $3.15 | $3.14 | $3.85 |
Fiscal years, from SEC filings.
Technical summary
Daily
Bearish
2 bullish · 4 neutral · 10 bearish
Weekly
Strongly bearish
1 bullish · 1 neutral · 10 bearish
Monthly
Bearish
2 bullish · 1 neutral · 5 bearish
Moving averages (daily)
| SMA 10 | 132.0 | Bearish |
| EMA 10 | 132.3 | Bearish |
| SMA 20 | 131.1 | Bullish |
| EMA 20 | 133.0 | Bearish |
| SMA 50 | 139.6 | Bearish |
| EMA 50 | 136.5 | Bearish |
| SMA 100 | 139.2 | Bearish |
| EMA 100 | 139.0 | Bearish |
| SMA 200 | 142.9 | Bearish |
| EMA 200 | 141.4 | Bearish |
Oscillators (daily)
| RSI (14) | 45.14 | Neutral |
| MACD (12, 26) | -1.57 | Bearish |
| Momentum (12) | 0.44 | Bullish |
| Stochastic %K (14) | 53.19 | Neutral |
| Williams %R (14) | -46.81 | Neutral |
| CCI (20) | 18.39 | Neutral |
Pivot points (classic, last session)
S3 123.5 | S2 126.3 | S1 128.8 | Pivot 131.6 | R1 134.0 | R2 136.9 | R3 139.3 |
Signals describe what the chart is doing, not what to do. Moving averages: price above the average is bullish. Oscillators use the usual thresholds (RSI 30/70, Stochastic 20/80, CCI ±100, Williams %R −80/−20; MACD and momentum above zero are bullish). Weekly and monthly views use closing prices only.
ETFs that hold CBRE
| ETF | Share of the fund |
|---|---|
| XLRE The Real Estate Select Sector SPDR | 4.08% |
| IYR iShares U.S. Real Estate | 2.91% |
| VNQ Vanguard Real Estate | 2.25% |
| VOE Vanguard Mid-Cap Value | 0.68% |
| DFLV Dimensional US Large Cap Value | 0.39% |
| VO Vanguard Mid-Cap | 0.38% |
| IWS iShares Russell Mid-Cap Value | 0.35% |
| JHMM John Hancock Multifactor Mid Cap | 0.29% |
The eight funds with the largest weight in CBRE among the ETFs we cover, from each fund's latest SEC Form N-PORT (quarter-end positions, so they can be months old). All ETFs.
CBRE stock splits
CBRE has split its stock once since 2006. The latest was a 3-for-1 split on 2 Jun 2006.
Full CBRE stock split history →CBRE SEC filings
10-QSEC EDGAR
Quarterly report
8-KSEC EDGAR
Results of operations
8-KSEC EDGAR
Regulation FD disclosure
10-QSEC EDGAR
Quarterly report
8-KSEC EDGAR
Results of operations
8-KSEC EDGAR
Entered a material agreement
8-KSEC EDGAR
Regulation FD disclosure
8-KSEC EDGAR
Shareholder vote results
Where the numbers come from
Statements SEC EDGAR filings (10-K, 10-Q), quarters derived from year-to-date figures.
Prices end-of-day closes, split-adjusted.
Industry inputs beta, multiples and equity risk premium from Damodaran Online (NYU Stern).
StocksXray is for education only and is not financial advice. Scores and fair values are model estimates from public filings and carry uncertainty.