CBRE CBRE GROUP, INC.

Overview and Growth

CBRE GROUP, INC. generated $40.55B of revenue in fiscal 2025, with net income of $1.16B and an operating cash inflow of $1.56B. At $40.55B, the top line establishes the operating scale supporting the company’s profit and cash-flow profile. Revenue was 13.4% above fiscal 2024 revenue of $35.77B, marking a year-over-year increase. The company reported diluted EPS of $3.85, adding a shareholder-level measure to the absolute income figures considered below. The per-share result recorded a 22.6% increase from fiscal 2024 diluted EPS of $3.14. The revenue-to-assets relationship was 1.31x, showing the sales generated relative to the resources carried on the balance sheet.

Profitability

After reported cost of revenue, the company retained $7.57B as gross profit before recognizing operating expenses and other items. The gross-profit relationship equaled 18.7% of revenue, quantifying the portion retained before operating expenses were recognized. The reported operating result was $1.75B, capturing profitability after direct costs and the operating expenses reflected in the statements. Operating margin measured 4.3%, showing the portion of revenue preserved after the full set of operating costs. The bottom-line result was net income of $1.16B, after the operating, financing, tax, and other items recognized for the period. Measured against reported revenue, net income produced a 2.9% margin after operating costs and the remaining recognized items. Before income taxes, the company reported $1.59B of earnings, providing a bridge between the operating result and final net income. The pretax margin was 3.9%, relating income before taxes directly to revenue. The reported income-tax provision was $317.00M, the amount recognized between pretax income and the final net-income result. Relative to pretax income, the tax provision measured 19.9%, quantifying the portion of pre-tax earnings paid in income tax.

Liquidity and Capital Structure

Total assets were $30.88B, supported by $21.25B of liabilities and $9.19B of shareholder equity. Current assets were $13.49B against $12.32B of current liabilities, framing the resources and obligations classified within the near-term balance-sheet horizon. Current assets covered current liabilities by 1.09x, leaving a positive buffer for near-term obligations. The company held $1.86B in cash and equivalents, a narrower liquidity measure than total current assets. The cash balance equaled 15.1% of current liabilities, showing how much near-term coverage came from cash alone. Borrowings totaled $5.12B, adding a fixed financing obligation alongside the company’s equity capital. Against book equity, debt measured 0.56x, placing the company’s financial leverage in clear balance-sheet terms. Debt represented 16.6% of total assets, placing borrowing in the context of the company’s full resource base. Relative to total assets, liabilities measured 68.8%, complementing the separate equity-based view of the company’s capital structure. Measured against total assets, cash and equivalents represented 6.0%, a balance-sheet composition measure rather than a liquidity forecast. Total assets were 26.6% higher than fiscal 2024 assets of $24.38B, measuring the company’s own balance-sheet change.

Cash Flow and Earnings Quality

Operating activities produced a cash inflow of $1.56B, giving the cash-flow counterpart to the accrual-based profit measures reported for the year. Against net income, operating cash flow measured 1.35x, showing the relationship between accrual earnings and operating cash. Capital expenditures used $366.00M, identifying the reported investment outflow deducted from operating cash flow in the free-cash-flow calculation. Capital expenditures represented 23.5% of operating cash flow, leaving the remainder available as free cash flow. After capital spending, free cash flow was $1.19B, leaving cash available for debt reduction, shareholder returns, or further investment. The free-cash-flow margin was 2.9%, measuring cash remaining after capital spending against revenue. Measured against total assets, free cash flow represented 3.9%, showing the cash productivity of the company’s assets.

Based on the annual report for the fiscal year ending Dec 31, 2025. Analysis generated Oct 21, 2026.