Real Estate · Real Estate Services · US stock · price as of 22 Oct 2026
Key indicators
Price
$131.24
52-week range
$121.69 – $174.27
Market cap
$38.6B
P/E (trailing)
30.1×
EV / EBITDA
16.6×
Free-cash-flow yield
2.4%
Dividend yield
–
Revenue (last 12 months)
$43.6B
Revenue growth (3y a year)
9.6%
Operating margin
4.5%
Return on invested capital
10.4%
Net debt / EBITDA
2.4×
Fair value
Fair value (average of valid models)$139.95 middle half of models $112 – $163
Versus priceFair+7% to fair value
P/E multiple
$131.53
P/B multiple
$117.23
EV/EBITDA multiple
$135.29
EV/EBIT multiple
$149.47
10-year DCF, EBITDA exit
$165.19
5-year DCF, EBITDA exit
$161.48
10-year DCF, revenue exit
$190.04
5-year DCF, revenue exit
$190.44
10-year DCF, growth exit
$106.50
5-year DCF, growth exit
$93.83
Earnings power value
$98.40
Model uncertainty
Medium
X-Ray Score
57/ 100 · High confidence · ahead of 72% of sector peers
Valuation49
Growth58
Profitability58
Financial health63
Dividends–
Five-year price chart navy: price · brown: 200-day average · blue band: fair value range
Executive summary
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.
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.
StocksXray gives Cbre Group, Inc. an X-Ray Score of 57 out of 100 (high confidence), ahead of 72% of the S&P 500 stocks in its sector. Its strongest lens is financial health (63) and its weakest is valuation (49).
Our fair value (the average of the valid models) is $139.95 (range $111.86 to $163.33). At $131.24 the stock trades 6% below that value, so the label is "Fair" with medium model uncertainty. Fair value is a range, not a price target.
XStocksXray
Cbre Group, Inc. (CBRE)
Valuation history multiples at each fiscal year-end price; the last column uses today's price and the last twelve months
FY2021
FY2022
FY2023
FY2024
FY2025
Now
Price
$108.51
$76.96
$93.09
$131.29
$160.79
$131.24
Market cap
$36.9B
$25.2B
$29.1B
$40.4B
$48.4B
$38.6B
P/E
20.1×
17.9×
29.6×
41.8×
41.8×
30.1×
EV / revenue
1.4×
0.9×
1.0×
1.2×
1.3×
1.0×
EV / EBITDA
17.6×
12.6×
18.5×
21.2×
21.9×
16.7×
Price / free cash flow
17.1×
18.4×
166.3×
28.9×
40.5×
41.1×
Free-cash-flow yield
5.8%
5.4%
0.6%
3.5%
2.5%
2.4%
Price / book
4.3×
3.2×
3.5×
4.8×
5.4×
4.6×
Dividend yield
–
–
–
–
–
–
Fundamentals checklist ● 8 Good · ● 3 Average · ● 5 Bad · each check graded against the sector
Cash quality
Earnings backed by cash−0.2%Bad
Free-cash-flow yield2.4%Bad
Risk models
Altman Z score2.2×Good
Piotroski F-Score5 of 9Bad
Growth
EPS growth (3y)−3.5%Average
Free-cash-flow growth (3y)−4.5%Bad
Revenue growth (3y)9.6%Good
Growth consistency100%Good
Balance sheet
Current ratio1.1×Good
Net debt / EBITDA2.4×Good
Interest coverno interest costGood
Valuation
Fair value vs price1.1×Average
EBIT / EV yield4.4%Average
Profitability
Return on invested capital10.4%Good
Operating margin4.5%Bad
Gross profitability26.4%Good
XStocksXray
Cbre Group, Inc. (CBRE)
Financials US$ millions, from SEC filings; last column is the last twelve months
Income statement
FY21
FY22
FY23
FY24
FY25
LTM
Revenue
27,746
30,828
31,949
35,767
40,550
43,640
Gross profit
6,166
6,589
6,274
6,956
7,566
8,048
Operating income
1,637
1,512
1,117
1,413
1,753
1,979
Net income
1,837
1,407
986
968
1,157
1,301
Diluted EPS ($)
5.41
4.29
3.15
3.14
3.85
4.37
Free cash flow
2,154
1,369
175
1,401
1,193
938
Gross margin
22.2%
21.4%
19.6%
19.4%
18.7%
18.4%
Operating margin
5.9%
4.9%
3.5%
4.0%
4.3%
4.5%
Net margin
6.6%
4.6%
3.1%
2.7%
2.9%
3.0%
Balance sheet
FY21
FY22
FY23
FY24
FY25
LTM
Total assets
22,073
20,513
22,548
24,383
30,877
30,471
Cash
2,431
1,318
1,265
1,114
1,864
1,489
Total debt
2,848
2,183
3,495
4,187
7,586
8,093
Equity
8,528
7,853
8,267
8,411
8,878
8,398
Dividend per share ($)
–
–
–
–
–
–
Revenue and net income US$ billions: navy revenue, teal net income
Every number comes from SEC filings, end-of-day prices and the StocksXray models described on the methodology page. The X-Ray Score ranks each metric against the company's own sector. Fair value is the average of up to 15 valuation models, most of them anchored to the company's own multiples, so it stays near the price and should be read as a range, not a point. Analyst ratings, price targets and earnings-call summaries are not part of this report. Educational research, not financial advice; read the disclaimer.
