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World's largest commercial real estate services firm, offering brokerage, leasing, investment management and facilities services.
World's largest commercial real estate services firm, offering brokerage, leasing, investment management and facilities services.
Paid in two very different ways: commissions on property leases and sales, which rise and fall with deal activity, and fees under multi-year contracts to run buildings and projects for companies, which are steadier. The contract side, including project manager Turner & Townsend, in which it bought a controlling stake in 2021, has grown into a large part of the business.
Moat: narrow (scale, brand, installed base). Global scale, broker relationships and long-running corporate outsourcing contracts across facilities/property management.
Headquarters: Dallas, Texas, United States · Founded: 1906 · Employees: 155,000
Size CBRE (CBRE) is a United States Real Estate company (Real Estate Development) with a market value of $39.1B, the 303rd largest of 3,117 United States companies the cockpit tracks. Shares closed at $135.51 on 6 Nov 2026.
Performance Over six months the shares fell 7.4%, against -4.3% for the median peer and -1.1% for the United States market (cap-weighted) — 9th lowest of 21 in its peer set.
Growth Revenue grew 14.2% over the last twelve months (peer median +4.8%); the operating margin is 2.6% (peer median 24.6%).
Valuation It trades at 16.3× forward earnings against a peer median of 15.8× (11th cheapest of 21).
Credit CBRE has 9 bonds outstanding ($5.60B), rated BBB+ by the agencies and trading like BBB at a weighted spread of 105 bp.
Short interest Short interest is 1.5% of the free float (15 Oct 2026).
Next results Next results expected around 25 Feb 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | $44.9B | $40.5B | $35.8B | $31.9B | $30.8B |
| Revenue growth | — | +13% | +12% | +4% | — |
| Gross profit | $7.47B | $6.84B | $6.31B | $5.68B | $5.98B |
| EBITDA | $1.91B | $2.06B | $2.00B | $1.76B | $1.97B |
| Net income | $1.38B | $1.16B | $968M | $986M | $1.41B |
| Free cash flow | $938M | $1.19B | $1.49B | $229M | $1.46B |
| Capital expenditure | $465M | $366M | $307M | $305M | $260M |
| Total debt | $10.7B | $10.2B | $5.86B | $4.93B | $3.58B |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| CBRE CBRE | $39.1B | -7% | +14% | 3% | 16.3× | n/a |
| Jones Lang LaSalle JLL | $16.9B | +12% | +11% | 5% | 13.4× | n/a |
| Cushman & Wakefield CWK | $3.28B | -2% | +10% | 4% | 8.8× | n/a |
| Colliers International CIGI.TO | $4.88B | -5% | +14% | 7% | 11.8× | n/a |
| Newmark NMRK | $2.16B | -29% | +16% | 7% | 6.1× | n/a |
| Savills SVS.L | $2.56B | +37% | +7% | 5% | 13.4× | n/a |
| Marcus & Millichap MMI | $1.05B | -9% | +12% | 1% | 56.1× | n/a |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | CBRE | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +3.4% | +9.1% | 3rd lowest of 21 |
| 6-month return | -7.4% | -4.3% | 9th lowest of 21 |
| Distance from 52-week high | -22.2% | -13.4% | 5th lowest of 21 |
| Revenue growth (TTM) | +14.2% | +4.8% | 7th highest of 21 |
| Operating margin | 2.6% | 24.6% | lowest of 21 |
| Forward P/E | 16.3× | 15.8× | 11th cheapest of 21 |
| Bond spread | 105 bp | 86 bp | 5th widest of 12 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| CBRE CBRE | United States | $39.1B | -7% | +14% | 3% | 16.3× | n/a | n/a |
| Shk Ppt 0016.HK | Hong Kong | $43.5B | -18% | +17% | 26% | 14.1× | n/a | n/a |
| Mitsubishi Estate 8802.T | Japan | $29.5B | -12% | +17% | 21% | 19.2× | n/a | n/a |
| China Res Land 1109.HK | Hong Kong | $29.1B | -7% | -12% | 16% | 8.9× | n/a | n/a |
| Mitsui Fudosan 8801.T | Japan | $27.4B | -5% | -10% | 14% | 14.9× | n/a | n/a |
| CK Asset 1113.HK | Hong Kong | $21.9B | -3% | +48% | 15% | 12.8× | n/a | n/a |
| KE Holdings, Inc. Class A 2423.HK | Hong Kong | $21.4B | +3% | -11% | 6% | 16.8× | n/a | n/a |
| DLF DLF.NS | India | $19.7B | +22% | -29% | 13% | 38.3× | n/a | n/a |
| Swire Properties 1972.HK | Hong Kong | $19.4B | +4% | +6% | 49% | 18.3× | n/a | n/a |
| Sumitomo Realty & Development C 8830.T | Japan | $18.8B | -34% | +5% | 29% | 12.8× | n/a | n/a |
| China Overseas 0688.HK | Hong Kong | $18.4B | -13% | +4% | 11% | 10.2× | n/a | n/a |
| Henderson Land 0012.HK | Hong Kong | $18.3B | -12% | +46% | 20% | 17.2× | n/a | n/a |
| Hongkong Land H78.SI | Singapore | $17.7B | -1% | -25% | 23% | 20.9× | n/a | n/a |
| Jones Lang LaSalle JLL | United States | $16.9B | +12% | +11% | 5% | 13.4× | n/a | n/a |
| Vonovia VNA.DE | Germany | $16.1B | -24% | -17% | 40% | 9.4× | n/a | n/a |
| Swiss Prime Site SPSN.SW | Switzerland | $13.0B | +1% | -12% | 76% | 31.7× | n/a | n/a |
| Sino Land 0083.HK | Hong Kong | $12.8B | -20% | +15% | 34% | 20.4× | n/a | n/a |
| Wharf Reic 1997.HK | Hong Kong | $12.6B | +24% | -1% | 73% | 14.8× | n/a | n/a |
| Lodha Developers LODHA.NS | India | $12.5B | +22% | +21% | 31% | 27.0× | n/a | n/a |
| China Res Mixc 1209.HK | Hong Kong | $12.1B | -14% | +10% | 28% | 18.4× | n/a | n/a |
| Klepierre LI.PA | France | $11.6B | +8% | +3% | 63% | 13.1× | n/a | n/a |
CBRE has 9 bonds outstanding with $5.60B face value. The agencies rate it BBB+; its bonds trade like BBB. Weighted yield 5.75%, a spread of 105 bp over government bonds.