Latest Ratios: P/E Ratio 45.1x · EV/EBITDA 10.6x · ROE 4.0%. (1995–2025 historical series)
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $4.6B | $5.5B | $6.8B | $5.9B | $4.0B | $6.4B | $3.6B | $3.1B | $2.2B | $2.4B | $1.4B |
| Enterprise Value | $7.1B | $7.9B | $8.7B | $7.8B | $6.0B | $7.3B | $4.7B | $3.9B | $2.7B | $2.5B | $1.6B |
| P/E Ratio → | 45.09 | 71.36 | 42.23 | 89.10 | 20.78 | — | 37.93 | 22.67 | 22.46 | 46.07 | 21.00 |
| P/S Ratio | 0.82 | 0.97 | 1.42 | 1.35 | 0.91 | 1.56 | 1.29 | 1.02 | 0.78 | 1.04 | 0.75 |
| P/B Ratio | 1.23 | 1.94 | 2.75 | 3.05 | 2.57 | 5.69 | 3.48 | 3.56 | 2.98 | 5.45 | 4.11 |
| P/FCF | 19.90 | 23.54 | 26.15 | 72.16 | — | 27.62 | 28.39 | 11.69 | 9.87 | 13.68 | 10.89 |
| P/OCF | 14.80 | 17.50 | 20.93 | 35.34 | 60.30 | 22.08 | 21.51 | 10.03 | 8.50 | 11.15 | 9.14 |
P/E links to full P/E history page with 30-year chart
Enterprise-value multiples — capital-structure-neutral measures of total business value
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 1.40 | 1.81 | 1.80 | 1.34 | 1.78 | 1.68 | 1.28 | 0.97 | 1.10 | 0.83 |
| EV / EBITDA | 10.56 | 11.83 | 14.25 | 15.51 | 11.70 | 535.57 | 16.10 | 12.51 | 1.02 | 1.01 | 0.84 |
| EV / EBIT | 17.30 | 20.09 | 21.93 | 25.45 | 17.64 | — | 27.93 | 17.78 | 13.49 | 14.97 | 10.62 |
| EV / FCF | — | 34.05 | 33.36 | 96.26 | — | 31.51 | 37.08 | 14.68 | 12.32 | 14.50 | 12.02 |
Margins and return-on-capital ratios measuring operating efficiency
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 30.8% | 30.8% | 39.9% | 40.1% | 38.3% | 38.4% | 37.5% | 35.7% | 35.7% | 37.3% | 37.8% |
| Operating Margin | 7.2% | 7.2% | 8.1% | 6.9% | 7.5% | -3.2% | 5.9% | 7.2% | 7.1% | 7.3% | 7.7% |
| Net Profit Margin | 1.9% | 1.9% | 3.4% | 1.5% | 1.0% | -9.5% | 1.8% | 3.4% | 3.5% | 2.2% | 3.6% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 4.0% | 4.0% | 7.3% | 3.8% | 3.4% | -36.3% | 5.2% | 12.8% | 16.7% | 12.6% | 21.4% |
| ROA | 1.6% | 1.6% | 2.8% | 1.2% | 1.0% | -10.9% | 1.6% | 3.9% | 5.1% | 3.7% | 5.9% |
| ROIC | 6.4% | 6.4% | 7.1% | 6.1% | 9.0% | -4.8% | 6.5% | 11.1% | 16.3% | 23.3% | 23.6% |
| ROCE | 7.3% | 7.3% | 9.0% | 7.7% | 10.9% | -5.8% | 7.9% | 12.4% | 17.3% | 23.0% | 22.5% |
Solvency and debt-coverage ratios — lower is generally safer
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.96 | 0.96 | 0.83 | 1.11 | 1.33 | 1.16 | 1.22 | 1.04 | 0.91 | 0.57 | 0.76 |
| Debt / EBITDA | 4.04 | 4.04 | 3.37 | 4.24 | 4.11 | 95.40 | 4.31 | 2.91 | 0.25 | 0.10 | 0.14 |
| Net Debt / Equity | — | 0.87 | 0.76 | 1.02 | 1.22 | 0.80 | 1.07 | 0.91 | 0.74 | 0.33 | 0.43 |
| Net Debt / EBITDA | 3.65 | 3.65 | 3.08 | 3.88 | 3.77 | 66.21 | 3.77 | 2.54 | 0.20 | 0.06 | 0.08 |
| Debt / FCF | — | 10.52 | 7.21 | 24.10 | — | 3.90 | 8.69 | 2.98 | 2.46 | 0.82 | 1.14 |
| Interest Coverage | 4.70 | 4.70 | 4.63 | 3.26 | 6.96 | -3.78 | 5.41 | 7.47 | 9.72 | 14.11 | 16.17 |
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 5.75 | 5.75 | 1.06 | 1.02 | 0.90 | 1.02 | 0.93 | 0.78 | 0.95 | 0.89 | 1.03 |
| Quick Ratio | 5.75 | 5.75 | 1.06 | 1.02 | 0.90 | 1.02 | 0.93 | 0.78 | 0.95 | 0.89 | 1.03 |
| Cash Ratio | 1.07 | 1.07 | 0.15 | 0.14 | 0.15 | 0.27 | 0.16 | 0.14 | 0.16 | 0.16 | 0.22 |
| Asset Turnover | — | 0.83 | 0.79 | 0.79 | 0.87 | 1.06 | 0.85 | 1.05 | 1.20 | 1.58 | 1.59 |
| Inventory Turnover | — | — | — | — | — | — | — | — | — | — | — |
| Days Sales Outstanding | — | — | — | — | — | — | — | — | — | — | — |
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | 0.4% | 0.3% | 0.2% | 0.2% | 0.3% | 0.1% | 0.1% | 0.1% | 0.2% | 0.2% | 0.2% |
| Payout Ratio | 14.8% | 14.8% | 9.1% | 20.6% | 28.3% | — | 8.1% | 3.8% | 4.0% | 7.9% | 5.1% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 2.2% | 1.4% | 2.4% | 1.1% | 4.8% | — | 2.6% | 4.4% | 4.5% | 2.2% | 4.8% |
| FCF Yield | 5.0% | 4.2% | 3.8% | 1.4% | — | 3.6% | 3.5% | 8.6% | 10.1% | 7.3% | 9.2% |
| Buyback Yield | 0.0% | 0.0% | 0.0% | 0.0% | 4.1% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| Total Shareholder Yield | 0.4% | 0.3% | 0.2% | 0.2% | 4.4% | 0.1% | 0.1% | 0.1% | 0.2% | 0.2% | 0.2% |
| Shares Outstanding | — | $37M | $50M | $46M | $44M | $43M | $40M | $40M | $40M | $39M | $39M |
Includes 30+ ratios · 30 years · Updated daily
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Quick answers to the most common questions about buying CIGI stock.
Colliers International Group Inc.'s current P/E ratio is 45.1x. The historical average is 31.9x. This places it at the 80th percentile of its historical range.
Colliers International Group Inc.'s current EV/EBITDA is 10.6x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 7.7x.
Colliers International Group Inc.'s return on equity (ROE) is 4.0%. The historical average is 6.1%.
Based on historical data, Colliers International Group Inc. is trading at a P/E of 45.1x. This is at the 80th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
Colliers International Group Inc.'s current dividend yield is 0.45% with a payout ratio of 14.8%.
Colliers International Group Inc. has 30.8% gross margin and 7.2% operating margin.
Colliers International Group Inc.'s Debt/EBITDA ratio is 4.0x, indicating high leverage. A ratio above 4x may signal elevated financial risk.
Key Metrics
Top Statement Risk
Leverage and margin compression
Premium Multiple Reflects Diversification
CIGI trades at 79.2x forward P/FFO, a premium to peers, reflecting its shift toward recurring investment management revenue, though the implied cap rate remains undisclosed.
The P/FFO of 79.2x in 2026Q2 is significantly above JLL's 23.4x and CBRE's 39.4x, suggesting investors are paying for the perceived durability of the investment management segment. However, this premium appears stretched given the volatility in FFO per share, which swung from $3.59 in 2025Q4 to $2.73 in 2026Q2. The EV/EBITDA of 11.6x is more moderate, but the lack of disclosed implied cap rate limits direct comparison to private market transactions.
NOI Margin Volatility Masks Mix Shift
NOI margin swung from 40.4% in 2024Q4 to 9.8% in 2025Q4, then recovered to 40.4% in 2026Q2, reflecting seasonality and acquisition integration costs that obscure underlying profitability trends.
The extreme volatility in NOI margin—from 40.4% to 9.8% and back—suggests that the reported figures are heavily influenced by one-time items and the timing of acquisitions. The 2025Q4 margin of 9.8% appears anomalous, possibly due to integration costs or a change in revenue mix. The stable 40%+ margins in other quarters indicate that the core brokerage and outsourcing businesses remain profitable, but the recent expansion into engineering services may be diluting overall margins, as evidenced by the 30.8% gross margin in the latest quarter.
Thin Payout Ratio Masks Cash Flow Volatility
FFO payout ratio averaged near zero in most quarters, but 2026Q1 showed 17.6%, and AFFO volatility suggests distributable cash is uneven, warranting monitoring of dividend sustainability.
The FFO payout ratio is extremely low, often 0%, indicating that dividends are well covered by FFO. However, the 2026Q1 payout of 17.6% and the negative FFO growth in that quarter highlight the volatility in earnings. AFFO per share ranged from $0.68 to $2.75 over the past year, and the 2026Q1 AFFO of $0.68 was the lowest, suggesting that distributable cash can be thin. Despite the low payout, the company retains substantial cash flow, but the unevenness of FFO and AFFO warrants caution.
Debt-Fueled Expansion Raises Leverage
Debt-to-equity rose to 1.16 in 2026Q2 from 0.82 a year earlier, while interest coverage fell to 3.88x, indicating increased reliance on borrowings and thinner coverage.
The balance sheet data shows total debt surged to $3.3B in 2026Q2, up from $2.1B a year earlier, while equity remained flat at $1.5B, pushing the debt-to-equity ratio to 1.16. Interest coverage declined from 5.97x in 2024Q2 to 3.88x in 2026Q2, suggesting that the company's earnings are less able to absorb interest expenses. The reported debt-to-equity of 0.96% in the data appears inconsistent with the balance sheet figures, which imply a ratio of 2.2, warranting verification of the underlying debt figures.
Occupancy and G&A Efficiency Unclear
Occupancy rates are not disclosed, but G&A efficiency appears strained as revenue growth of 17.3% YoY has not translated into margin expansion, suggesting rising costs.
The lack of occupancy data limits assessment of portfolio quality, but the revenue growth of 17.3% YoY to $5.66B TTM appears to be driven by acquisitions, particularly in engineering services. The gross margin of 30.8% is lower than the legacy brokerage business, indicating that the new revenue is less profitable. G&A costs are not separately disclosed, but the operating margin of 7.22% suggests that overheads are consuming a significant portion of revenue, potentially due to integration costs and the expansion into new verticals.
P/E Distorted by Depreciation
The standard P/E of 51.97 is misleading for CIGI because depreciation and amortization on acquisitions suppress GAAP earnings, making FFO-based multiples more appropriate.
GAAP net income was negative in 2026Q1 (-$24M) despite positive FFO of $43M, illustrating how depreciation and amortization charges on acquisitions distort earnings. The P/E of 51.97 is therefore not a reliable indicator of value. Instead, investors should use P/FFO, which was 79.2x in 2026Q2, or P/AFFO, which would be even higher given the gap between FFO and AFFO. The high multiple suggests the market is pricing in significant future growth, but the volatility in FFO per share warrants caution.