Colliers International Group Inc. (CIGI) 10-Year Financial Performance & Capital Metrics

CIGI • • REIT / Real Estate

Real EstateReal Estate ServicesCommercial Real Estate ServicesGlobal Commercial Services

AboutColliers International Group Inc. provides commercial real estate professional and investment management services to corporate and institutional clients in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. It offers sales brokerage services, including real estate sales, debt origination and placement, equity capital raising, market value opinions, acquisition advisory, and transaction management services; and landlord and tenant representation services. The company provides outsourcing and advisory services, such as corporate and workplace solutions; valuation and advisory services; workplace strategy services; loan servicing; property marketing; research services; and engineering design services for property and building, infrastructure, transportation, environmental and telecommunications end-markets. It also offers property management services comprising building operations and maintenance, facilities management, lease administration, property accounting and financial reporting, contract management and, construction management; and project management services, which include bid document review, construction monitoring and delivery management, contract administration and integrated cost control, development management, facility and engineering functionality, milestone and performance monitoring, quality assurance, risk management and strategic project consulting. In addition, the company provides investment management services that consists of asset management advisory and administration, transaction, and incentive services. The company was founded in 1972 and is headquartered in Toronto, Canada.Show more

Revenue $4.82B +11.2%
FFO $383M +43.0%
FFO/Share 7.64 +31.9%
FFO Payout 3.83% -24.1%
FFO per Share 7.64 +31.9%
NOI Margin 39.86% -0.6%
FFO Margin 7.95% +28.6%
ROE 7.35% +96.0%
ROA 2.79% +125.4%
Debt/Assets 33.73% -13.5%
Net Debt/EBITDA 3.08 -20.7%
Book Value/Share 49.38 +18.9%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Sustainable FFO payout ratio of 3.8%

✗Weaknesses

✗Weak 3Y average ROE of 4.8%
✗Low NOI margin of 39.9%

Price & Volume

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Growth Metrics

Revenue CAGR

10Y5.92%

5Y9.62%

3Y5.65%

TTM19.71%

Profit (Net Income) CAGR

10Y14.08%

5Y9.46%

3Y-

TTM-23.98%

EPS CAGR

10Y10.47%

5Y-1.31%

3Y-

TTM-28.21%

ROCE

10Y Avg11.48%

5Y Avg5.95%

3Y Avg9.22%

Latest9.02%

Peer Comparison

Global Commercial Services

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
CBRECBRE Group, Inc.	50.84B	170.83	54.40	11.95%	3.12%	13.21%	2.93%	0.62
NMRKNewmark Group, Inc.	2.79B	17.52	51.53	10.85%	3.28%	6.4%		1.33
CIGIColliers International Group Inc.	7.32B	147.49	45.80	11.23%	2.15%	4.31%	3.57%	0.83
JLLJones Lang LaSalle Incorporated	16.71B	354.01	31.33	12.87%	2.49%	8.66%	3.59%	0.43
CWKCushman & Wakefield plc	3.95B	17.07	30.48	-0.5%	2.23%	11.41%	4.22%	1.89

Profit & Loss

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Revenue+	1.72B	1.9B	2.28B	2.83B	3.05B	2.79B	4.09B	4.46B	4.34B	4.82B
Revenue Growth %	-0.37%	0.1%	0.2%	0.24%	0.08%	-0.09%	0.47%	0.09%	-0.03%	0.11%
Property Operating Expenses	1.04B	1.18B	1.43B	1.82B	1.96B	1.74B	2.52B	2.75B	2.6B	2.9B
Net Operating Income (NOI)+	-	-	-	-	-	-	-	-	-	-
NOI Margin %	-	-	-	-	-	-	-	-	-	-
Operating Expenses+	576.5M	567.22M	666.33M	784.53M	868.07M	881.42M	1.7B	1.38B	1.44B	1.53B
G&A Expenses	537.88M	522.29M	613.34M	705.8M	744.87M	709.66M	1.02B	1.1B	1.19B	1.34B
EBITDA+	119.01M	1.87B	2.5B	2.67B	312.86M	290.48M	13.59M	509.92M	503.47M	610.81M
EBITDA Margin %	-	-	-	-	-	-	-	-	-	-
Depreciation & Amortization+	38.62M	1.73B	2.33B	2.47B	94.66M	125.91M	145.09M	177.42M	202.54M	221.6M
D&A / Revenue %	-	-	-	-	-	-	-	-	-	-
Operating Income+	80.38M	146.17M	166.83M	201.4M	218.2M	164.58M	-131.5M	332.5M	300.94M	389.21M
Operating Margin %	-	-	-	-	-	-	-	-	-	-
Interest Expense+	9.04M	9.19M	11.89M	20.84M	29.45M	30.95M	31.82M	48.59M	94.08M	85.78M
Interest Coverage	8.89x	15.91x	14.02x	9.66x	7.41x	5.32x	-4.13x	6.84x	3.20x	4.54x
Non-Operating Income	-1.12M	-2.42M	-500K	-1.28M	-1.85M	-2.91M	-11.27M	-5.64M	-5.92M	-7.68M
Pretax Income+	72.47M	139.4M	155.43M	181.83M	190.6M	136.53M	-152.05M	289.55M	212.78M	311.11M
Pretax Margin %	-	-	-	-	-	-	-	-	-	-
Income Tax+	32.55M	47.83M	63.3M	53.26M	53.01M	42.05M	85.51M	95.01M	68.09M	74.18M
Effective Tax Rate %	-	-	-	-	-	-	-	-	-	-
Net Income+	23.35M	67.97M	49.31M	97.66M	102.9M	49.07M	-390.34M	46.25M	65.54M	161.72M
Net Margin %	-	-	-	-	-	-	-	-	-	-
Net Income Growth %	-0.46%	1.91%	-0.27%	0.98%	0.05%	-0.52%	-8.95%	1.12%	0.42%	1.47%
Funds From Operations (FFO)+	-	-	-	-	-	-	-	-	-	-
FFO Margin %	-	-	-	-	-	-	-	-	-	-
FFO Growth %	-0.41%	27.95%	0.33%	0.08%	-0.92%	-0.11%	-2.4%	1.91%	0.2%	0.43%
FFO per Share+	-	-	-	-	-	-	-	-	-	-
FFO Payout Ratio %	-	-	-	-	-	-	-	-	-	-
EPS (Diluted)+	0.62	1.75	1.31	2.45	3.44	2.35	-5.53	4.43	1.42	3.22
EPS Growth %	-0.48%	1.82%	-0.25%	0.87%	0.4%	-0.32%	-3.35%	1.8%	-0.68%	1.27%
EPS (Basic)	0.63	1.76	1.32	2.49	3.48	2.36	-5.53	4.48	1.41	3.24
Diluted Shares Outstanding	37.59M	38.87M	39.31M	39.79M	39.98M	40.18M	42.92M	43.92M	46.27M	50.18M

Balance Sheet

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Total Assets+	1.09B	1.19B	1.44B	2.36B	2.89B	3.29B	3.87B	5.1B	5.48B	6.1B
Asset Growth %	-0.33%	0.09%	0.21%	0.64%	0.23%	0.14%	0.18%	0.32%	0.08%	0.11%
Real Estate & Other Assets+	17.31M	41.83M	59.88M	76M	361.47M	119.32M	77.91M	114.16M	188.06M	252.47M
PP&E (Net)	62.55M	65.27M	83.9M	93.48M	370.84M	417.36M	461.27M	506.12M	593.4M	625.82M
Investment Securities	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Total Current Assets+	495.98M	524.64M	601.83M	760.31M	718.06M	1.04B	1.57B	1.21B	1.47B	1.6B
Cash & Equivalents	116.15M	113.15M	108.52M	127.03M	114.99M	156.61M	396.75M	173.66M	181.13M	176.26M
Receivables	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Other Current Assets	29.59M	8.48M	13.81M	13.09M	110.87M	393.55M	323.04M	205.24M	208.15M	285.77M
Intangible Assets	120.96M	139.56M	183.04M	497.93M	477.45M	610.33M	561.83M	1.16B	1.08B	1.18B
Total Liabilities	803.34M	847.46M	1.01B	1.62B	2.02B	2.26B	2.75B	3.53B	3.56B	3.62B
Total Debt+	260.95M	262.5M	249.89M	672.12M	910.49M	1.25B	1.3B	2.1B	2.14B	2.06B
Net Debt	144.8M	149.35M	141.37M	545.09M	795.5M	1.1B	900M	1.92B	1.96B	1.88B
Long-Term Debt	257.75M	260.54M	247.47M	670.29M	606.33M	693.51M	754.81M	1.66B	1.5B	1.5B
Short-Term Borrowings	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Capital Lease Obligations	1.13M	0	0	1.47M	299.94M	333.03M	377.56M	407.49M	465.39M	476.87M
Total Current Liabilities+	479.14M	510.6M	673.03M	798.7M	924.27M	1.11B	1.54B	1.34B	1.44B	1.51B
Accounts Payable	77.46M	83.62M	227.09M	251.38M	261.91M	297.77M	391.17M	503.19M	535.77M	494.6M
Deferred Revenue	11.54M	14.5M	24.84M	39.63M	0	0	30.4M	25.62M	45.29M	63.46M
Other Liabilities	46.91M	36.37M	43.44M	97.1M	255.59M	208.89M	120.49M	139.39M	198.87M	149.58M
Total Equity+	289.08M	347.32M	434.95M	735.33M	876.45M	1.03B	1.12B	1.57B	1.92B	2.48B
Equity Growth %	-0.38%	0.2%	0.25%	0.69%	0.19%	0.17%	0.09%	0.4%	0.22%	0.29%
Shareholders Equity	149.49M	212.51M	289.46M	391.97M	512.88M	582.41M	581.6M	489.7M	847.99M	1.32B
Minority Interest	139.59M	134.8M	145.49M	343.36M	363.57M	446.08M	540.57M	1.08B	1.07B	1.15B
Common Stock	396.07M	399.77M	406.98M	415.81M	442.15M	457.99M	852.17M	845.68M	1.13B	1.47B
Additional Paid-in Capital	47.6M	51.54M	50.22M	54.72M	60.71M	66.97M	79.41M	104.5M	123.39M	140.45M
Retained Earnings	-238.41M	-174.31M	-128.41M	-21.75M	77.18M	119.42M	-279.72M	-384.2M	-332.87M	-186.27M
Preferred Stock	7.8M	6.78M	4.02M	4.42M	0	0	0	0	0	0
Return on Assets (ROA)	0.02%	0.06%	0.04%	0.05%	0.04%	0.02%	-0.11%	0.01%	0.01%	0.03%
Return on Equity (ROE)	0.06%	0.21%	0.13%	0.17%	0.13%	0.05%	-0.36%	0.03%	0.04%	0.07%
Debt / Assets	0.24%	0.22%	0.17%	0.29%	0.31%	0.38%	0.33%	0.41%	0.39%	0.34%
Debt / Equity	0.90x	0.76x	0.57x	0.91x	1.04x	1.22x	1.16x	1.33x	1.11x	0.83x
Net Debt / EBITDA	1.22x	0.08x	0.06x	0.20x	2.54x	3.77x	66.21x	3.77x	3.88x	3.08x
Book Value per Share	7.69	8.94	11.07	18.48	21.92	25.60	26.15	35.81	41.55	49.38

Cash Flow

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	157.24M	156.26M	212.85M	257.49M	310.76M	166.48M	288.98M	67.03M	165.66M	326.01M
Operating CF Growth %	-0.01%	-0.01%	0.36%	0.21%	0.21%	-0.46%	0.74%	-0.77%	1.47%	0.97%
Operating CF / Revenue %	-	-	-	-	-	-	-	-	-	-
Net Income	39.91M	91.57M	92.13M	128.57M	137.59M	94.49M	-237.56M	194.54M	144.69M	236.94M
Depreciation & Amortization	38.62M	44.92M	52.99M	78.73M	94.66M	125.91M	145.09M	177.42M	202.54M	221.6M
Stock-Based Compensation	35.4M	3.28M	4.42M	6.39M	7.83M	9.63M	14.35M	21.85M	27.09M	46.04M
Other Non-Cash Items	37.07M	11.6M	27.95M	34.3M	165.72M	-200.07M	382.67M	353.28M	-78.14M	78.83M
Working Capital Changes	3.48M	-5.11M	15.63M	3.36M	-88.35M	149.72M	21.96M	-654.07M	-120.59M	-226.86M
Cash from Investing+	-85.41M	-133.69M	-141.25M	-628.13M	-218.27M	-113.46M	-49.41M	-872.84M	-133.98M	-783.1M
Acquisitions (Net)	-44.11M	-82.07M	-58.67M	-568.96M	-80.58M	-205.61M	-60.83M	-1.01B	-64.88M	-537.73M
Purchase of Investments	0	0	0	0	0	0	0	0	0	0
Sale of Investments	0	0	0	0	0	0	0	0	0	0
Other Investing	-18.79M	-26.57M	-43.1M	-23.6M	-93.5M	132.5M	69.37M	202.13M	15.42M	-183.42M
Cash from Financing+	-88.63M	-14.86M	-83.93M	395.23M	-100.99M	1.05M	18.6M	612.92M	-7.81M	452.21M
Dividends Paid	-7.18M	-3.47M	-3.88M	-3.91M	-3.94M	-3.99M	-4.21M	-13.1M	-13.52M	-14.67M
Common Dividends	-7.18M	-3.47M	-3.88M	-3.91M	-3.94M	-3.99M	-4.21M	-13.1M	-13.52M	-14.67M
Debt Issuance (Net)	-1000K	1000K	-1000K	1000K	-1000K	1000K	1000K	1000K	1000K	1000K
Share Repurchases	0	0	0	0	0	0	0	-165.73M	0	0
Other Financing	-19.13M	-28.34M	-56M	-31.53M	-37.74M	-61.9M	-49.25M	-137.3M	-86.33M	-41.61M
Net Change in Cash+	-40.64M	-3M	-4.63M	18.51M	-12.04M	62.54M	247.74M	-226.23M	20.03M	-1.09M
Exchange Rate Effect	-1000K	-1000K	1000K	-1000K	-1000K	1000K	-1000K	-1000K	-1000K	1000K
Cash at Beginning	156.79M	116.15M	113.15M	108.52M	127.03M	114.99M	177.53M	425.27M	199.04M	219.07M
Cash at End	116.15M	113.15M	108.52M	127.03M	114.99M	177.53M	425.27M	199.04M	219.07M	217.98M
Free Cash Flow+	134.72M	131.22M	173.38M	221.91M	266.56M	126.13M	231.03M	-650K	81.14M	260.92M
FCF Growth %	0.26%	-0.03%	0.32%	0.28%	0.2%	-0.53%	0.83%	-1%	125.83%	2.22%
FCF / Revenue %	-	-	-	-	-	-	-	-	-	-

Key Ratios

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
FFO per Share	1.65	46.16	60.63	64.51	4.94	4.35	-5.71	5.09	5.79	7.64
FFO Payout Ratio	11.58%	0.19%	0.16%	0.15%	1.99%	2.28%	-1.72%	5.86%	5.04%	3.83%
NOI Margin	39.35%	37.8%	37.27%	35.67%	35.66%	37.53%	38.38%	38.35%	40.1%	39.86%
Net Debt / EBITDA	1.22x	0.08x	0.06x	0.20x	2.54x	3.77x	66.21x	3.77x	3.88x	3.08x
Debt / Assets	23.89%	21.97%	17.33%	28.51%	31.48%	38.04%	33.48%	41.14%	38.98%	33.73%
Interest Coverage	8.89x	15.91x	14.02x	9.66x	7.41x	5.32x	-4.13x	6.84x	3.20x	4.54x
Book Value / Share	7.69	8.94	11.07	18.48	21.92	25.6	26.15	35.81	41.55	49.38
Revenue Growth	-36.56%	10.15%	19.96%	24.17%	7.8%	-8.5%	46.73%	9.06%	-2.79%	11.23%

Revenue by Segment

	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Capital Markets	-	-	-	-	-	-	-	1.08B	702.47M	765.3M
Capital Markets Growth	-	-	-	-	-	-	-	-	-35.21%	8.94%
Property Management	-	-	-	-	-	-	-	499.23M	527.74M	537.63M
Property Management Growth	-	-	-	-	-	-	-	-	5.71%	1.87%
Other Revenue	-	-	-	-	-	-	-	104.72M	115.04M	146.16M
Other Revenue Growth	-	-	-	-	-	-	-	-	9.86%	27.06%
Incentive Fees	-	-	-	-	-	-	-	30.28M	6.78M	23.61M
Incentive Fees Growth	-	-	-	-	-	-	-	-	-77.60%	248.14%
Advisory	-	-	-	-	-	-	-	348.6M	480.67M	-
Advisory Growth	-	-	-	-	-	-	-	-	37.89%	-
Investment Management	-	-	-	1.04M	2.95M	-	35.03M	-	-	-
Investment Management Growth	-	-	-	-	182.55%	-	-	-	-	-
Corporate	-	-	-	1.62M	1.64M	752K	624K	-	-	-
Corporate Growth	-	-	-	-	1.05%	-54.17%	-17.02%	-	-	-

Revenue by Geography

	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
UNITED STATES	628.95M	734.49M	984.74M	1.24B	1.43B	1.43B	2.23B	2.54B	2.36B	2.58B
UNITED STATES Growth	-	16.78%	34.07%	26.23%	15.01%	0.18%	55.85%	13.89%	-7.07%	9.02%
CANADA	229.55M	253.53M	288.54M	360.12M	356.63M	304.04M	437.31M	467.98M	432.18M	632.29M
CANADA Growth	-	10.45%	13.81%	24.81%	-0.97%	-14.75%	43.83%	7.01%	-7.65%	46.30%
Euro Currency Countries	-	261.63M	261.82M	358.04M	356.17M	280.85M	343.36M	411.83M	404.16M	411.66M
Euro Currency Countries Growth	-	-	0.07%	36.75%	-0.52%	-21.15%	22.26%	19.94%	-1.86%	1.86%
Other Geographic Locations	493.02M	290.46M	328.19M	452.9M	497.58M	444M	475.43M	445.39M	497.92M	325.58M
Other Geographic Locations Growth	-	-41.09%	12.99%	38.00%	9.87%	-10.77%	7.08%	-6.32%	11.79%	-34.61%
AUSTRALIA	206.25M	219.41M	245.38M	238.54M	235.47M	190.11M	320.96M	277.49M	284.47M	304.39M
AUSTRALIA Growth	-	6.38%	11.84%	-2.79%	-1.29%	-19.26%	68.83%	-13.54%	2.52%	7.00%
POLAND	-	-	-	-	-	-	-	-	-	100.47M
POLAND Growth	-	-	-	-	-	-	-	-	-	-
CHINA	-	-	-	-	-	-	108.9M	96.22M	87.51M	84.56M
CHINA Growth	-	-	-	-	-	-	-	-11.64%	-9.06%	-3.37%
INDIA	-	-	-	-	-	-	-	-	-	75.57M
INDIA Growth	-	-	-	-	-	-	-	-	-	-

Frequently Asked Questions

Valuation & Price

Colliers International Group Inc. (CIGI) has a price-to-earnings (P/E) ratio of 45.8x. This suggests investors expect higher future growth.

Growth & Financials

Colliers International Group Inc. (CIGI) reported $5.45B in revenue for fiscal year 2024. This represents a 145% increase from $2.22B in 2011.

Colliers International Group Inc. (CIGI) grew revenue by 11.2% over the past year. This is steady growth.

Yes, Colliers International Group Inc. (CIGI) is profitable, generating $117.1M in net income for fiscal year 2024 (3.4% net margin).

Dividend & Returns

Yes, Colliers International Group Inc. (CIGI) pays a dividend with a yield of 0.20%. This makes it attractive for income-focused investors.

Colliers International Group Inc. (CIGI) has a return on equity (ROE) of 7.3%. This is below average, suggesting room for improvement.

Industry Metrics

Colliers International Group Inc. (CIGI) generated Funds From Operations (FFO) of $371.8M in the trailing twelve months. FFO is the primary profitability metric for REITs.

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