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CBRE Group
(NYSE:CBRE)
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Rating:70Outperform
Price Target:
$164.00
▲(17.60% Upside)
Action:Upgraded
Date:07/31/26
CBRE scores as moderately attractive. The biggest positives are the strong earnings-call outlook (raised 2026 guidance and robust infrastructure/data-center momentum) and constructive price trend versus key moving averages. The main offsets are valuation (P/E ~33.4) and financial profile constraints—modest margins, elevated leverage, and somewhat uneven cash-flow conversion.
Positive Factors
Scale and diversified services mix
CBRE’s large, diversified mix—Advisory, Capital Markets, BOE/Global Workplace Solutions, Project Management and Investment Management—creates durable revenue scale. Recurring facilities and management fees offset cyclic transactional swings, supporting steady revenue and long-term client relationships across cycles.
Negative Factors
Elevated leverage versus historical levels
Higher leverage reduces financial flexibility and raises refinancing and covenant risks if market conditions worsen. With leverage elevated versus earlier years, CBRE is more exposed to cash-conversion swings and interest-rate variability, constraining optionality for large-scale capital deployment.
Read all positive and negative factors
Positive Factors
Negative Factors
Scale and diversified services mix
CBRE’s large, diversified mix—Advisory, Capital Markets, BOE/Global Workplace Solutions, Project Management and Investment Management—creates durable revenue scale. Recurring facilities and management fees offset cyclic transactional swings, supporting steady revenue and long-term client relationships across cycles.
Read all positive factors
CBRE Group Key Performance Indicators (KPIs)
Any
Revenue by Segment
Breaks down revenue across different business segments, highlighting which areas drive growth and profitability, and revealing strategic focus areas.
Breaks down revenue across different business segments, highlighting which areas drive growth and profitability, and revealing strategic focus areas.
Data provided by:
The Fly
The FlyCBRE Group (CBRE) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$42.51B
Dividend YieldN/A
Average Volume (3M)1.77M
Price to Earnings (P/E)33.4
Beta (1Y)0.96
Revenue Growth14.53%
EPS Growth22.31%
CountryUS
Employees155,000
SectorReal Estate
Sector Strength53
IndustryReal Estate - Services
Share Statistics
EPS (TTM)4.39
Shares Outstanding289,575,300
10 Day Avg. Volume1,484,949
30 Day Avg. Volume1,769,329
Financial Highlights & Ratios
PEG Ratio1.82
Price to Book (P/B)5.40
Price to Sales (P/S)1.18
P/FCF Ratio40.19
Enterprise Value/Market Cap<0.01
Enterprise Value/Revenue<0.01
Enterprise Value/Gross Profit<0.01
Enterprise Value/Ebitda<0.01
Forecast
1Y Price Target
$179.63Price Target Upside28.80% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering10
EPS Forecast (FY)7.72
Revenue Forecast (FY)$46.31B
CBRE Group Business Overview & Revenue Model
Company Description
CBRE Group, Inc. operates as a commercial real estate services and investment company in the United States, the United Kingdom, and internationally. The company operates through Advisory Services, Building Operations and Experience, Project Manage...
How the Company Makes Money
CBRE primarily makes money by earning fees and commissions for commercial real estate transactions and recurring service fees for managing and operating real estate for clients, supplemented by investment management and mortgage-related revenues. ...
CBRE Group Earnings Call Summary
Earnings Call Date:Jul 29, 2026
(Q2-2026)
| % Change Since: |
Next Earnings Date:Oct 22, 2026
Earnings Call Sentiment Positive
The call presented a strong quarter with broad-based double‑digit revenue growth, significant margin and cash generation improvements, and an upgraded EPS outlook driven by robust infrastructure and data center demand. Key strengths include high growth in data center and critical infrastructure services, strong leasing and project management performance, and healthy free cash flow enabling buybacks and M&A optionality. Headwinds include fundraising shortfalls versus expectations, agency origination pressure, external constraints on data center development (NIMBYism, water/power, supply chain, labor), timing uncertainty on land monetizations, and some accounting-driven margin uplift in BOE. Overall, the positives—notably the raised guidance and multi-quarter momentum—outweigh the manageable lowlights.Positive Updates
Strong Overall Financial Performance
Revenue increased 16% year-over-year; core EBITDA rose 34%; core EPS up 30%. Management raised full-year core EPS guidance to $7.80–$7.90 (23% growth at midpoint). This marks the fifth consecutive quarter with at least 18% core EPS growth.
Negative Updates
Investment Management Fundraising Below Expectations
New capital raised totaled $1.6B (up from $1.3B in prior comparable period) but was below internal expectations; Investment Management operating profit rose only modestly.
Read all updates
Q2-2026 Updates
Positive
Negative
Strong Overall Financial Performance
Revenue increased 16% year-over-year; core EBITDA rose 34%; core EPS up 30%. Management raised full-year core EPS guidance to $7.80–$7.90 (23% growth at midpoint). This marks the fifth consecutive quarter with at least 18% core EPS growth.
Read all positive updates
Company Guidance
CBRE raised its 2026 core EPS guidance to $7.80–$7.90 (midpoint ≈ 23% growth), expects Q3 core EPS growth of more than 20% with Q4 likely comparable to last year, and—assuming no material macro or interest-rate changes—targets at least 15% core EPS growth in 2027; it also sees low double-digit SOP growth for BOE and Project Management in 2027, Advisory moderating, and REI SOP roughly flat. On infrastructure and data centers, Q2 infrastructure services revenue was nearly $1.2 billion (up >45%) with data center services >$700 million (≈+30%), and management expects data center services revenue to remain elevated at about 25% annual growth for the next five years and then above 15% as the build cycle matures. Cash and capital-allocation metrics: trailing-12-month free cash flow nearly $1.7 billion, full-year free-cash-flow conversion expected near the high end of the 75%–85% range, year-to-date buybacks nearly $1.0 billion (including >$450 million since Q1), no significant incremental capital allocation baked into H2 guidance, and priorities remain M&A first then buybacks. Additional relevant metrics cited: Q2 core EBITDA rose 34% and core EPS rose 30%; embedded development gains ≈ $900 million; AUM ≈ $155 billion with $1.6 billion of new capital raised in the quarter; and about 30 U.S. land sites remain in the land bank.CBRE Group Financial Statement Overview
Summary
Income Statement
72
Positive
Balance Sheet
66
Positive
Cash Flow
61
Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 43.64B | 40.55B | 35.77B | 31.95B | 30.83B | 27.75B |
| Gross Profit | 7.71B | 6.07B | 7.02B | 6.30B | 6.62B | 6.17B |
| EBITDA | 2.71B | 2.58B | 2.15B | 1.83B | 2.03B | 2.09B |
| Net Income | 1.30B | 1.16B | 968.00M | 986.00M | 1.41B | 1.84B |
Balance Sheet | ||||||
| Total Assets | 30.47B | 30.88B | 24.38B | 22.55B | 20.51B | 22.07B |
| Cash, Cash Equivalents and Short-Term Investments | 1.49B | 1.86B | 1.11B | 1.26B | 1.32B | 2.43B |
| Total Debt | 10.58B | 9.99B | 5.69B | 4.83B | 3.49B | 4.20B |
| Total Liabilities | 21.30B | 21.25B | 15.19B | 13.48B | 11.91B | 12.71B |
| Stockholders Equity | 8.40B | 8.88B | 8.41B | 8.27B | 7.85B | 8.53B |
Cash Flow | ||||||
| Free Cash Flow | 938.00M | 1.19B | 1.49B | 229.00M | 1.46B | 2.23B |
| Operating Cash Flow | 1.36B | 1.56B | 1.80B | 534.00M | 1.72B | 2.44B |
| Investing Cash Flow | -1.37B | -1.63B | -1.60B | -729.00M | -917.20M | -1.56B |
| Financing Cash Flow | 1.83B | 796.00M | -221.00M | 148.00M | -1.77B | -286.38M |
CBRE Group Technical Analysis
Positive
139.46
Price Trends
135.80
Positive
137.89
Positive
147.99
Negative
Market Momentum
2.75
Negative
59.85
Neutral
73.22
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For CBRE, the sentiment is Positive. The current price of 139.46 is below the 20-day moving average (MA) of 141.30, above the 50-day MA of 135.80, and below the 200-day MA of 147.99, indicating a neutral trend. The MACD of 2.75 indicates Negative momentum. The RSI at 59.85 is Neutral, neither overbought nor oversold. The STOCH value of 73.22 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for CBRE.
CBRE Group Risk Analysis
CBRE Group disclosed 32 risk factors in its most recent earnings report. CBRE Group reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
CBRE Group Peers Comparison
UnderperformOutperform
Sector (65)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
75 Outperform | $16.33B | 16.68 | 9.96% | ― | 11.17% | 79.36% | |
70 Outperform | $42.51B | 33.44 | 15.16% | ― | 14.53% | 22.31% | |
69 Neutral | $18.34B | 36.38 | 4.95% | 1.68% | -8.90% | -21.42% | |
67 Neutral | $2.66B | 18.09 | 9.92% | 0.97% | 23.03% | 88.89% | |
65 Neutral | $2.17B | 12.19 | 3.79% | 4.94% | 3.15% | 1.96% | |
61 Neutral | $3.14B | 41.70 | 3.79% | ― | 10.40% | -54.85% | |
59 Neutral | $11.65B | 156.56 | 0.90% | ― | 21.96% | -28.75% |
* Real Estate Sector Average
CBRE
CBRE Group
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CWK
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BEKE
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-1.78%
CBRE Group Corporate Events
Business Operations and StrategyPrivate Placements and Financing
CBRE Group Secures New $1 Billion Credit Facility
Positive
Jun 23, 2026
On June 23, 2026, CBRE Group entered into a new 364-day senior unsecured revolving credit agreement providing a $1 billion credit facility to its unit CBRE Services, Inc., replacing a similar facility dated June 24, 2025. The new agreement, which ...
Business Operations and StrategyRegulatory Filings and Compliance
CBRE Group Releases Updated Investor Presentation Under Reg FD
Neutral
Jun 15, 2026
On June 15, 2026, CBRE Group posted an investor presentation on its Investor Relations website, making updated materials available to shareholders and the broader market. The filing clarifies that the presentation is being furnished rather than fi...
Executive/Board ChangesShareholder Meetings
CBRE Shareholders Back Board, Pay Plan at Annual Meeting
Positive
May 22, 2026
At its annual meeting of stockholders held on May 21, 2026, CBRE Group shareholders re-elected all 10 directors to the board for terms running until the 2027 annual meeting, reflecting broad support for the existing leadership slate despite some p...
Business Operations and StrategyPrivate Placements and Financing
CBRE Group Issues $750 Million Senior Unsecured Notes
Positive
May 4, 2026
On May 4, 2026, CBRE Services, Inc., a wholly owned subsidiary of CBRE Group, completed a $750 million offering of 5.250% senior unsecured notes due June 1, 2036, fully and unconditionally guaranteed on a senior unsecured basis by the parent compa...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.