Real Estate - Services
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CBRE vs JLL
Revenue, margins, valuation, and 5-year total return — side by side.
Real Estate - Services
CBRE vs JLL — Key Financials
Market cap, revenue, margins, and valuation side-by-side.
| Company Snapshot | ||
|---|---|---|
| Industry | Real Estate - Services | Real Estate - Services |
| Market Cap | $41.79B | $14.76B |
| Revenue (TTM) | $42.17B | $26.76B |
| Net Income (TTM) | $1.31B | $896M |
| Gross Margin | 35.0% | 89.4% |
| Operating Margin | 3.8% | 4.6% |
| Forward P/E | 18.6x | 14.1x |
| Total Debt | $9.99B | $3.36B |
| Cash & Equiv. | $1.86B | $599M |
CBRE vs JLL — Long-Term Stock Performance
Price return indexed to 100 at period start. Dividends excluded.
| Stock | May 20 | May 26 | Return |
|---|---|---|---|
| CBRE Group, Inc. (CBRE) | 100 | 324.2 | +224.2% |
| Jones Lang LaSalle … (JLL) | 100 | 310.7 | +210.7% |
Price return only. Dividends and distributions are not included.
Quick Verdict: CBRE vs JLL
Each card shows where this stock fits in a portfolio — not just who wins on paper.
CBRE is the clearest fit if your priority is income & stability and growth exposure.
- Dividend streak 1 yrs, beta 1.12
- Rev growth 13.4%, EPS growth 22.6%, 3Y rev CAGR 9.6%
- 382.3% 10Y total return vs JLL's 181.1%
JLL carries the broadest edge in this set and is the clearest fit for valuation efficiency.
- PEG 0.86 vs CBRE's 1.60
- Lower P/E (14.1x vs 18.6x), PEG 0.86 vs 1.60
- 3.3% margin vs CBRE's 3.1%
See the full category breakdown
| Category | Winner | Why |
|---|---|---|
| Growth | 13.4% FFO/revenue growth vs JLL's 11.4% | |
| Value | Lower P/E (14.1x vs 18.6x), PEG 0.86 vs 1.60 | |
| Quality / Margins | 3.3% margin vs CBRE's 3.1% | |
| Stability / Safety | Beta 1.12 vs JLL's 1.26 | |
| Dividends | Tie | Neither stock pays a meaningful dividend |
| Momentum (1Y) | +36.6% vs CBRE's +13.2% | |
| Efficiency (ROA) | 5.1% ROA vs CBRE's 4.5%, ROIC 8.9% vs 6.2% |
CBRE vs JLL — Revenue Breakdown by Segment
How each company's revenue is distributed across its business units
CBRE vs JLL — Financial Metrics
Side-by-side numbers across 2 stocks — who leads on profitability, valuation, growth, and risk.
Income & Cash Flow (Last 12 Months)
JLL leads this category, winning 5 of 6 comparable metrics.
Income & Cash Flow (Last 12 Months)
CBRE is the larger business by revenue, generating $42.2B annually — 1.6x JLL's $26.8B. Profitability is closely matched — net margins range from 3.3% (JLL) to 3.1% (CBRE). On growth, CBRE holds the edge at +18.1% YoY revenue growth, suggesting stronger near-term business momentum.
| Metric | ||
|---|---|---|
| RevenueTrailing 12 months | $42.2B | $26.8B |
| EBITDAEarnings before interest/tax | $2.3B | $1.5B |
| Net IncomeAfter-tax profit | $1.3B | $896M |
| Free Cash FlowCash after capex | $897M | $971M |
| Gross MarginGross profit ÷ Revenue | +35.0% | +89.4% |
| Operating MarginEBIT ÷ Revenue | +3.8% | +4.6% |
| Net MarginNet income ÷ Revenue | +3.1% | +3.3% |
| FCF MarginFCF ÷ Revenue | +2.1% | +3.6% |
| Rev. Growth (YoY)Latest quarter vs prior year | +18.1% | +11.1% |
| EPS Growth (YoY)Latest quarter vs prior year | +98.1% | +192.1% |
Valuation Metrics
JLL leads this category, winning 7 of 7 comparable metrics.
Valuation Metrics
At 19.4x trailing earnings, JLL trades at a 48% valuation discount to CBRE's 37.0x P/E. Adjusting for growth (PEG ratio), JLL offers better value at 1.19x vs CBRE's 3.18x — a lower PEG means you pay less per unit of expected earnings growth.
| Metric | ||
|---|---|---|
| Market CapShares × price | $41.8B | $14.8B |
| Enterprise ValueMkt cap + debt − cash | $49.9B | $17.5B |
| Trailing P/EPrice ÷ TTM EPS | 37.03x | 19.40x |
| Forward P/EPrice ÷ next-FY EPS est. | 18.62x | 14.11x |
| PEG RatioP/E ÷ EPS growth rate | 3.18x | 1.19x |
| EV / EBITDAEnterprise value multiple | 24.23x | 12.29x |
| Price / SalesMarket cap ÷ Revenue | 1.03x | 0.57x |
| Price / BookPrice ÷ Book value/share | 4.45x | 2.02x |
| Price / FCFMarket cap ÷ FCF | 35.03x | 15.08x |
Profitability & Efficiency
JLL leads this category, winning 8 of 9 comparable metrics.
Profitability & Efficiency
CBRE delivers a 14.3% return on equity — every $100 of shareholder capital generates $14 in annual profit, vs $12 for JLL. JLL carries lower financial leverage with a 0.44x debt-to-equity ratio, signaling a more conservative balance sheet compared to CBRE's 1.04x. On the Piotroski fundamental quality scale (0–9), JLL scores 8/9 vs CBRE's 6/9, reflecting strong financial health.
| Metric | ||
|---|---|---|
| ROE (TTM)Return on equity | +14.3% | +12.1% |
| ROA (TTM)Return on assets | +4.5% | +5.1% |
| ROICReturn on invested capital | +6.2% | +8.9% |
| ROCEReturn on capital employed | +7.7% | +8.9% |
| Piotroski ScoreFundamental quality 0–9 | 6 | 8 |
| Debt / EquityFinancial leverage | 1.04x | 0.44x |
| Net DebtTotal debt minus cash | $8.1B | $2.8B |
| Cash & Equiv.Liquid assets | $1.9B | $599M |
| Total DebtShort + long-term debt | $10.0B | $3.4B |
| Interest CoverageEBIT ÷ Interest expense | 8.15x | 10.15x |
Total Returns (Dividends Reinvested)
JLL leads this category, winning 5 of 6 comparable metrics.
Total Returns (Dividends Reinvested)
A $10,000 investment in JLL five years ago would be worth $16,924 today (with dividends reinvested), compared to $16,781 for CBRE. Over the past 12 months, JLL leads with a +36.6% total return vs CBRE's +13.2%. The 3-year compound annual growth rate (CAGR) favors JLL at 32.9% vs CBRE's 24.1% — a key indicator of consistent wealth creation.
| Metric | ||
|---|---|---|
| YTD ReturnYear-to-date | -11.0% | -5.3% |
| 1-Year ReturnPast 12 months | +13.2% | +36.6% |
| 3-Year ReturnCumulative with dividends | +91.2% | +134.7% |
| 5-Year ReturnCumulative with dividends | +67.8% | +69.2% |
| 10-Year ReturnCumulative with dividends | +382.3% | +181.1% |
| CAGR (3Y)Annualised 3-year return | +24.1% | +32.9% |
Risk & Volatility
Evenly matched — CBRE and JLL each lead in 1 of 2 comparable metrics.
Risk & Volatility
CBRE is the less volatile stock with a 1.12 beta — it tends to amplify market swings less than JLL's 1.26 beta. A beta below 1.0 means the stock typically moves less than the S&P 500. JLL currently trades 87.6% from its 52-week high vs CBRE's 81.8% drawdown — a narrower gap to the peak suggests stronger recent price momentum.
| Metric | ||
|---|---|---|
| Beta (5Y)Sensitivity to S&P 500 | 1.12x | 1.26x |
| 52-Week HighHighest price in past year | $174.27 | $363.06 |
| 52-Week LowLowest price in past year | $118.81 | $211.86 |
| % of 52W HighCurrent price vs 52-week peak | +81.8% | +87.6% |
| RSI (14)Momentum oscillator 0–100 | 42.3 | 42.2 |
| Avg Volume (50D)Average daily shares traded | 1.9M | 428K |
Analyst Outlook
JLL leads this category, winning 1 of 1 comparable metric.
Analyst Outlook
Wall Street rates CBRE as "Buy" and JLL as "Buy". Consensus price targets imply 26.1% upside for CBRE (target: $180) vs 20.3% for JLL (target: $383).
| Metric | ||
|---|---|---|
| Analyst RatingConsensus buy/hold/sell | Buy | Buy |
| Price TargetConsensus 12-month target | $179.75 | $382.75 |
| # AnalystsCovering analysts | 20 | 12 |
| Dividend YieldAnnual dividend ÷ price | — | — |
| Dividend StreakConsecutive years of raises | 1 | 9 |
| Dividend / ShareAnnual DPS | — | — |
| Buyback YieldShare repurchases ÷ mkt cap | +2.3% | +1.4% |
JLL leads in 5 of 6 categories — strongest in Income & Cash Flow and Valuation Metrics. 1 category is tied.
CBRE vs JLL: Frequently Asked Questions
10 questions · data-driven answers · updated daily
01Is CBRE or JLL a better buy right now?
For growth investors, CBRE Group, Inc.
(CBRE) is the stronger pick with 13. 4% revenue growth year-over-year, versus 11. 4% for Jones Lang LaSalle Incorporated (JLL). Jones Lang LaSalle Incorporated (JLL) offers the better valuation at 19. 4x trailing P/E (14. 1x forward), making it the more compelling value choice. Analysts rate CBRE Group, Inc. (CBRE) a "Buy" — based on 20 analyst ratings — the highest consensus in this comparison. The "better buy" depends entirely on your goals: growth investors should weight revenue trajectory, value investors should weight P/E and PEG, and income investors should weight dividend yield and streak.
02Which has the better valuation — CBRE or JLL?
On trailing P/E, Jones Lang LaSalle Incorporated (JLL) is the cheapest at 19.
4x versus CBRE Group, Inc. at 37. 0x. On forward P/E, Jones Lang LaSalle Incorporated is actually cheaper at 14. 1x. The PEG ratio (P/E divided by earnings growth rate) is the most growth-adjusted single valuation metric: Jones Lang LaSalle Incorporated wins at 0. 86x versus CBRE Group, Inc. 's 1. 60x — a PEG below 1. 0 traditionally signals the market is underpricing earnings growth.
03Which is the better long-term investment — CBRE or JLL?
Over the past 5 years, Jones Lang LaSalle Incorporated (JLL) delivered a total return of +69.
2%, compared to +67. 8% for CBRE Group, Inc. (CBRE). Over 10 years, the gap is even starker: CBRE returned +382. 3% versus JLL's +181. 1%. Past returns do not guarantee future results, and the stock with the higher historical return may already have its best growth priced in.
04Which is safer — CBRE or JLL?
By beta (market sensitivity over 5 years), CBRE Group, Inc.
(CBRE) is the lower-risk stock at 1. 12β versus Jones Lang LaSalle Incorporated's 1. 26β — meaning JLL is approximately 12% more volatile than CBRE relative to the S&P 500. On balance sheet safety, Jones Lang LaSalle Incorporated (JLL) carries a lower debt/equity ratio of 44% versus 104% for CBRE Group, Inc. — giving it more financial flexibility in a downturn.
05Which is growing faster — CBRE or JLL?
By revenue growth (latest reported year), CBRE Group, Inc.
(CBRE) is pulling ahead at 13. 4% versus 11. 4% for Jones Lang LaSalle Incorporated (JLL). On earnings-per-share growth, the picture is similar: Jones Lang LaSalle Incorporated grew EPS 45. 1% year-over-year, compared to 22. 6% for CBRE Group, Inc.. Over a 3-year CAGR, CBRE leads at 9. 6% annualised revenue growth. Higher growth typically commands a higher valuation multiple — check whether the premium P/E or P/S is justified by the growth rate using the PEG ratio.
06Which has better profit margins — CBRE or JLL?
Jones Lang LaSalle Incorporated (JLL) is the more profitable company, earning 3.
0% net margin versus 2. 9% for CBRE Group, Inc. — meaning it keeps 3. 0% of every revenue dollar as bottom-line profit. Operating margin tells a similar story: JLL leads at 4. 5% versus 3. 2% for CBRE. At the gross margin level — before operating expenses — JLL leads at 99. 0%, reflecting greater pricing power or product mix advantage. Stronger margins indicate durable pricing power, lower cost of revenue, or higher mix of software/services. They are one of the clearest signs of business quality.
07Is CBRE or JLL more undervalued right now?
The PEG ratio (forward P/E divided by expected earnings growth rate) is the most precise measure of undervaluation relative to growth potential.
By this metric, Jones Lang LaSalle Incorporated (JLL) is the more undervalued stock at a PEG of 0. 86x versus CBRE Group, Inc. 's 1. 60x. A PEG below 1. 0 is traditionally considered the threshold for growth-adjusted undervaluation. On forward earnings alone, Jones Lang LaSalle Incorporated (JLL) trades at 14. 1x forward P/E versus 18. 6x for CBRE Group, Inc. — 4. 5x cheaper on a one-year earnings basis. Analyst consensus price targets imply the most upside for CBRE: 26. 1% to $179. 75.
08Which pays a better dividend — CBRE or JLL?
None of the stocks in this comparison currently pay a material dividend.
All are effectively zero-yield and should be held for capital appreciation rather than income.
09Is CBRE or JLL better for a retirement portfolio?
For long-horizon retirement investors, CBRE Group, Inc.
(CBRE) is the stronger choice — it scores higher on the combination of lower volatility, dividend reliability, and long-term compounding (low volatility (β 1. 12), +382. 3% 10Y return). Both have compounded well over 10 years (CBRE: +382. 3%, JLL: +181. 1%), confirming both are viable long-term holds — but the lower-volatility option typically results in less emotional selling during corrections. Retirement portfolios generally favour predictability over maximum returns. Consult a financial advisor before making allocation decisions.
10What are the main differences between CBRE and JLL?
Both stocks operate in the Real Estate sector, making this a peer-level intra-sector comparison — the same macro tailwinds and headwinds will affect both.
These fundamental differences mean investors should not choose between them on a single metric — the "better stock" depends entirely on which of these characteristics aligns with your investment strategy.
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