Upside case
Bull case
$406+184.5%
CBRE would need investors to value it at roughly 53x earnings — about 34x more generous than today's 19x forward P/E. That requires meaningful multiple expansion on top of continued earnings growth.
Analysis OverviewBuyUpdated May 1, 2026
CBRE Group, Inc. (CBRE) Stock Analysis
Wall Street verdict, consensus price target, and analyst rating breakdown — everything needed to frame the risk/reward at today's price.
Analyst consensus
Buy
Covering
20
analysts
13 bullish · 1 bearish · 20 covering CBRE
Strong Buy
0
Buy
13
Hold
6
Sell
1
Strong Sell
0
Consensus Target
$180
+26.1% vs today
Scenario Range
$160 – $406
Model bear to bull value window
Coverage
20
Published analyst ratings
Valuation Context
18.6x
Forward P/E · Market cap $41.8B
CBRE price targets
Three scenarios for where CBRE stock could go
Current
~$143
Confidence
78 / 100
Updated
May 1, 2026
Where we are now
Current · $143
Bear
$160
Base
$234
Bull
$406
Market caseClosest to today
Base case
$234+64.3%
At 31x on FY1 earnings, the base case reflects a reasonable but not stretched valuation. It prices in continued growth without assuming an exceptional setup.
Stress case
Bear case
$160+12.4%
The bear case assumes sentiment or fundamentals disappoint enough to push CBRE down roughly 12% from the current price.
Not financial advice. Model confidence reflects internal scenario assumptions, not a guarantee of returns. Past performance does not predict future results.
CBRE Group, Inc.
CBRE · NYSEReal EstateReal Estate - ServicesDecember year-end
CBRE Group is the world's largest commercial real estate services and investment firm, providing advisory, transaction, and management services to property owners, investors, and occupiers. It generates revenue primarily through advisory fees (roughly 60% from leasing and capital markets), facilities management contracts (about 30%), and investment management fees (around 10%). The company's global scale—with offices in over 100 countries—creates a powerful network effect that attracts clients seeking comprehensive, integrated real estate solutions worldwide.
Market Cap
$41.8B
Revenue TTM
$42.2B
Net Income TTM
$1.3B
Net Margin
3.1%
CBRE Revenue and Earnings Performance
Quarterly beat-or-miss track record against analyst estimates, plus forward revenue and EPS outlook for the next two fiscal years.
EPS Beat Rate
100%Exceptional
12 quarters tracked
Revenue Beat Rate
75%Exceptional
vs consensus estimates
Avg EPS Surprise
+13.1%
above Street consensus
Beat / Miss Record
BeatMissLeft = EPS · Right = Revenue
Q3 2025
Q4 2025
Q1 2026
Q2 2026
Last 4 Quarters
EPS beats: 4 of 4Q3 2025
EPS
$1.19/$1.07
Revenue
$9.8B/$9.5B
Q4 2025
EPS
$1.61/$1.46
Revenue
$10.3B/$10.1B
Q1 2026
EPS
$2.73/$2.68
Revenue
$11.6B/$11.7B
Q2 2026
EPS
$1.61/$1.13
Revenue
$10.5B/$10.2B
| Quarter | EPS (Actual / Est) | EPS Surprise | Revenue (Actual / Est) | Rev Surprise |
|---|---|---|---|---|
| Q3 2025 | $1.19/$1.07 | +11.2% | $9.8B/$9.5B | +3.1% |
| Q4 2025 | $1.61/$1.46 | +10.3% | $10.3B/$10.1B | +1.4% |
| Q1 2026 | $2.73/$2.68 | +1.9% | $11.6B/$11.7B | -0.5% |
| Q2 2026 | $1.61/$1.13 | +42.5% | $10.5B/$10.2B | +2.9% |
FY1–FY2 Estimates
Revenue Outlook
FY1
$46.3B
+9.9% YoY
FY2
$51.8B
+11.8% YoY
EPS Outlook
FY1
$5.67
+28.3% YoY
FY2
$6.32
+11.5% YoY
Trailing FCF (TTM)$897M
FCF Margin: 2.1%
Next Earnings
—
Expected EPS
—
Expected Revenue
—
CBRE beat EPS estimates in 4 of 4 tracked quarters. A perfect track record raises the bar for the upcoming report.
CBRE Revenue Breakdown by Segment
Product and geographic revenue mix from the latest annual disclosure, with year-over-year growth by segment.
Latest disclosure
FY 2025
Total disclosed revenue $17.4B
Product Mix
Latest annual revenue by segment or product family
Advisory Services Segment
50.9%
-8.0% YoY
Tap, hover, or focus a slice to inspect segment detail.
Geographic Mix
Latest annual revenue by reported region
UNITED STATES
56.3%
+13.3% YoY
Tap, hover, or focus a slice to inspect segment detail.
Advisory Services Segment is the largest disclosed segment at 50.9% of FY 2025 revenue, down 8.0% YoY.
UNITED STATES is the largest reported region at 56.3%, up 13.3% YoY.
CBRE Valuation Snapshot
Current multiples compared to the S&P 500, the company's sector, and its own five-year average.
Relative Value Signal
Overvalued
Fair value est. $108 — implies -24.0% from today's price.
Premium to Fair Value
24.0%
above fair value
Deep DiscountFair ValueVery Expensive
vs S&P 500 Trailing P/E
CBRE
37.0x
vs
S&P 500
25.1x
+47% premium
vs Real Estate Trailing P/E
CBRE
37.0x
vs
Real Estate
24.1x
+53% premium
vs CBRE 5Y Avg P/E
Today
37.0x
vs
5Y Average
30.2x
+23% premium
Forward PE
18.6x
S&P 500
19.1x
-2%
Real Estate
26.4x
-29%
5Y Avg
—
—
Trailing PE
37.0x
S&P 500
25.1x
+47%
Real Estate
24.1x
+53%
5Y Avg
30.2x
+23%
PEG Ratio
3.18x
S&P 500
1.72x
+85%
Real Estate
1.25x
+155%
5Y Avg
—
—
EV/EBITDA
24.2x
S&P 500
15.2x
+59%
Real Estate
16.7x
+45%
5Y Avg
19.6x
+24%
Price/FCF
35.0x
S&P 500
21.1x
+66%
Real Estate
15.4x
+127%
5Y Avg
45.7x
-23%
Price/Sales
1.0x
S&P 500
3.1x
-67%
Real Estate
3.0x
-65%
5Y Avg
1.1x
-4%
Dividend Yield
—
S&P 500
1.87%
—
Real Estate
4.66%
—
5Y Avg
—
—
| Metric | CBRE | S&P 500 | Real Estate | 5Y Avg CBRE |
|---|---|---|---|---|
| Forward PE | 18.6x | 19.1x | 26.4x-29% | — |
| Trailing PE | 37.0x | 25.1x+47% | 24.1x+53% | 30.2x+23% |
| PEG Ratio | 3.18x | 1.72x+85% | 1.25x+155% | — |
| EV/EBITDA | 24.2x | 15.2x+59% | 16.7x+45% | 19.6x+24% |
| Price/FCF | 35.0x | 21.1x+66% | 15.4x+127% | 45.7x-23% |
| Price/Sales | 1.0x | 3.1x-67% | 3.0x-65% | 1.1x |
| Dividend Yield | — | 1.87% | 4.66% | — |
CBRE trades above S&P 500 benchmarks on 4 of 6 measured multiples — is elevated on some multiples, but competitive on others — a mixed valuation picture.
Forward P/E and PEG reflect analyst consensus estimates. Historical averages use trailing ratios where forward data is unavailable.S&P 500 and sector benchmarks both use trailing median P/E — similar readings indicate the broader index and sector are priced alike.
Open valuation toolCBRE Financial Health
Verdict
Adequate
CBRE pays 2.3% total shareholder yield with 3.8% operating margin. Leverage is structural for REITs — debt capacity matters more than absolute ratio.
Property Operations
Revenue, margins, and distribution coverage
Revenue (TTM)
Trailing-twelve-month sales base
$42.2B
Revenue Growth
TTM vs prior year
+14.8%
Gross Margin
Gross profit as a share of revenue
35.0%
Operating Margin
Operating income divided by revenue
3.8%
Net Margin
Net income divided by revenue
3.1%
EPS (TTM)
Diluted earnings per share, trailing twelve months
$4.42
Operating Margin
NOI-equivalent margin — key for REIT property economics
3.8%
Capital Quality
ROIC, leverage, and debt serviceability
ROIC
Return on invested capital — primary competitive quality signal
6.2%
ROA
Return on assets, trailing twelve months
4.5%
Cash & Equivalents
Liquid assets on the balance sheet
$1.9B
Net Debt
Total debt minus cash
$8.1B
Leverage (Net Debt / FCF)
REITs carry structural leverage — higher ratios are expected
9.1× FCF
Asset-heavy model means debt/FCF above 10× is common and not a distress signal.
ROE
Return on equity, trailing twelve months
14.3%
Shareholder Returns
How capital is returned to owners
Total shareholder yield
2.3%
Dividend
—
Buyback
2.3%
Share Repurchases
Trailing buyback outflow — dollar magnitude of capital returned
$968M
Dividend / Share
Annualized trailing dividend per share
—
Payout Ratio
Share of earnings distributed as dividends
—
Shares Outstanding
Declining as buybacks retire shares
293M
All figures from the trailing twelve months. REITs carry structural leverage — debt/FCF ratios above 10× are normal and do not indicate distress.
Open full ratios pageCBRE Stock Risk Factors
Key factors that could pressure the stock price, compress the multiple, or weigh on future results.
AI analysis · updated April 11, 2026
High Risk
Debt Default Risk
CBRE carries significant debt obligations. A default could trigger all borrowings to become immediately due and payable, potentially forcing a rapid deleveraging or asset liquidation.
High Risk
AI Disruption Risk
Artificial intelligence may automate brokerage, valuation, and consulting services, eroding CBRE’s fee‑based revenue model. The “AI scare trade” has already led to notable stock sell‑offs in the real‑estate sector.
High Risk
Cybersecurity Threats
Cyber incidents could result in misappropriation of assets, loss of sensitive client data, or operational disruption. Such breaches would damage client trust and could trigger regulatory penalties.
High Risk
Fee Compression Risk
CBRE’s profit margin is only 3.12%. Any significant fee compression—whether from market competition or regulatory changes—could materially erode earnings.
High Risk
Valuation Risk
The company’s forward P/E ratio suggests it is expensive. A slowdown in growth or a shift in sentiment could quickly erode valuation, tightening margin for error.
Medium
Economic Downturns & Uncertainty
CBRE’s performance is tightly linked to the global economy. Slowdowns, liquidity constraints, inflation, rising rates, geopolitical risks, and fiscal uncertainty can depress commercial‑real‑estate values, sales, and leasing activity.
Medium
Interest Rate Volatility
Higher interest rates increase the cost of capital and dampen investment activity in commercial real estate, potentially reducing CBRE’s transaction volume and fee income.
These are risk mechanisms, not predictions. The key question is which would force a cut to earnings estimates or a lower multiple than the market currently prices in.
Why CBRE Stock Could Outperform
Structural drivers behind the upside case and why the stock could outperform over the next 12 months.
AI analysis · updated April 11, 2026
Robust Revenue & Earnings Growth
CBRE’s 2025 revenue rose 13% to $40.6 billion, while earnings climbed 19.52%. In Q4 2025, revenue reached $11.6 billion, up 12% YoY, and core EPS hit $2.73, beating estimates. The company projects 2026 core EPS of $7.30–$7.60, reflecting an average growth of 17%.
Resilient Diversified Business Model
CBRE’s portfolio spans advisory, facilities management, project management, and real‑estate investments. Resilient‑business revenue grew 12% in Q4 2025 and 13% for the full year, while the facilities‑management segment continues to deliver double‑digit growth.
Projected Earnings Expansion
Analysts forecast CBRE’s earnings to grow 18.53% in the coming year, underscoring the company’s strong earnings momentum.
Strategic Acquisitions Fuel Growth
Recent acquisitions, such as Pearce Services, LLC, expand CBRE’s service offerings and contribute to its growth strategy.
Market Resilience & Bellwether Position
CBRE’s performance is viewed as a bellwether for the commercial real‑estate market, demonstrating resilience amid economic uncertainty and reinforcing its strategic positioning.
A real bull case compounds — each driver matters most when it strengthens margins, supports capital returns, and keeps the company above the market's minimum growth bar simultaneously.
CBRE Stock Price Performance
52-week range context and price returns across multiple time horizons. Dividend contribution is shown separately in the Capital Return section.
Current Price
$142.57
52W Range Position
43%
52-Week Range
Current price plotted between the 52-week low and high.
52-Week Low
$118.81
+20.0% from the low
52-Week High
$174.27
-18.2% from the high
1 Month
+4.68%
3 Month
-14.21%
YTD
-11.0%
1 Year
+13.2%
3Y CAGR
+24.1%
5Y CAGR
+10.9%
10Y CAGR
+17.0%
Range context matters because valuation compression and earnings misses rarely hit from the same starting point. A stock already far below its high can still fall, but it is no longer carrying the same embedded optimism as one pressing a fresh peak.
CBRE vs Peers
Valuation, growth, and margin comparison against the closest publicly traded peers for this company.
Peer Set
Accurate peer set
Forward PE
18.6x
vs 14.1x median
+32% above peer median
Revenue Growth
+9.9%
vs +1.5% median
+564% above peer median
Net Margin
3.1%
vs 3.3% median
-7% below peer median
| Company | Mkt Cap | Fwd PE | Rev Grw | Margin | Rating | Upside |
|---|---|---|---|---|---|---|
CBR CBRE CBRE Group, Inc. | $41.8B | 18.6x | +9.9% | 3.1% | Buy | +26.1% |
JLL JLL Jones Lang LaSalle Incorporated | $14.8B | 14.1x | +8.9% | 3.3% | Buy | +20.3% |
CWK CWK Cushman & Wakefield plc | $3.4B | 10.1x | -1.7% | 0.9% | Hold | +29.4% |
MMI MMI Marcus & Millichap, Inc. | $1.1B | 58.5x | +1.5% | -0.3% | Hold | -9.3% |
NMR NMRK Newmark Group, Inc. | $3.0B | 8.7x | +15.1% | 3.8% | Buy | +28.6% |
RMR RMR The RMR Group Inc. | $293M | 26.5x | -9.3% | 3.5% | Hold | +64.1% |
This peer comparison reflects companies with similar business models, product lines, or market positioning, supplemented by industry grouping when direct matches are limited.
CBRE Dividend and Capital Return
CBRE returns 2.3% annually — null% through dividends and 2.3% through buybacks.
Dividend UnknownFCF Unknown
Total Shareholder Yield
2.3%
Dividend + buyback return per year
Buyback Yield
2.3%
Dividend Yield
—
Payout Ratio
—
Dividend Profile
Yield, cadence, and growth quality
Dividend / Share
Trailing annualized cash dividend
$0.00
Growth Streak
Consecutive years of dividend increases
1Y
3Y Div CAGR
—
5Y Div CAGR
—
Ex-Dividend Date
—
Payment Cadence
—
0 payments over the last 12 months
Buyback Engine
How much per-share support comes from repurchases
Repurchases (TTM)
Cash used for buybacks in the latest trailing period
$968M
Estimated Shares Retired
7M
Approx. Share Reduction
2.3%
Shares Outstanding
Current diluted share count from the screening snapshot
293M
At 2.3%/year, buybacks mechanically lift EPS even with flat earnings — each remaining share represents a slightly larger piece of the company.
FAQ
7 questionsCBRE Investor Questions
Common questions answered from live analyst data and company financials.
01Is CBRE Group, Inc. (CBRE) stock a buy or sell in 2026?
CBRE Group, Inc. (CBRE) is rated Buy by Wall Street analysts as of 2026. Of 20 analysts covering the stock, 13 rate it Buy or Strong Buy, 6 rate it Hold, and 1 rate it Sell or Strong Sell. The consensus 12-month price target is $180, implying +26.1% from the current price of $143. The bear case scenario is $160 and the bull case is $406.
02What is the CBRE stock price target for 2026?
The Wall Street consensus price target for CBRE is $180 based on 20 analyst estimates. The high-end target is $185 (+29.8% from today), and the low-end target is $175 (+22.7%). The base case model target is $234.
03Is CBRE Group, Inc. (CBRE) stock overvalued in 2026?
CBRE trades at 18.6x times forward earnings. The stock trades at a notable premium to the broad market, which is typical for businesses with strong free cash flow and above-average growth expectations. Based on current multiples versus the peer group, the relative model signals overvalued. Whether the stock is over or undervalued ultimately depends on whether consensus earnings estimates are achievable.
04What are the main risks for CBRE Group, Inc. (CBRE) stock in 2026?
The primary risks for CBRE in 2026 are: (1) Debt Default Risk — CBRE carries significant debt obligations. (2) AI Disruption Risk — Artificial intelligence may automate brokerage, valuation, and consulting services, eroding CBRE’s fee‑based revenue model. (3) Cybersecurity Threats — Cyber incidents could result in misappropriation of assets, loss of sensitive client data, or operational disruption. Each factor has the potential to pressure earnings or compress the stock's valuation multiple.
05What is CBRE Group, Inc.'s revenue and earnings forecast?
Analyst consensus estimates CBRE will report consensus revenue of $46.3B (+9.9% year-over-year) and EPS of $5.67 (+28.3% year-over-year) for the upcoming fiscal year. The following year, analysts project $51.8B in revenue.
06When does CBRE Group, Inc. (CBRE) report its next earnings?
A confirmed upcoming earnings date for CBRE is not yet available. Check the Earnings section above for the most recent quarterly report dates and forward estimates.
07How much free cash flow does CBRE Group, Inc. generate?
CBRE Group, Inc. (CBRE) generated $897M in free cash flow over the trailing twelve months — a free cash flow margin of 2.1%. CBRE returns capital to shareholders through and share repurchases ($968M TTM).