What is the primary revenue source for CBRE Group (CBRE)?

According to the latest financial reports, the company's revenue is driven by its core business segments and operational services. You can explore the exact breakdown and proportions of each revenue stream using the interactive charts on this page.

How can I visualize and analyze CBRE's financial statements?

gkcal provides interactive Sankey diagrams and profit waterfall charts that map out CBRE Group's total revenue, cost of goods sold, operating expenses, and net income, making it easy to understand their business model and cash flow at a glance.

How CBRE Group Makes Money: CBRE Revenue Breakdown (2026)

Operations

Where did the money come from, and where was it spent?

Steady

Revenue and operating profit grew together, indicating healthy core operations.

Operating margin improved by 0.53 percentage points year over year.

Revenue: USD 21.75B
Largest revenue segment share (Facilities Management): 48.45%
Cost of revenue: USD 17.82B
Income tax expense: USD 180.00M

View calculation evidence

YoY periods: H1 2026 compared with H1 2025

Source metrics

RevenueRevenue · Revenues
Cost of revenueCost of revenue · CostOfRevenue
Income tax expenseIncome tax expense (benefit) · IncomeTaxExpenseBenefit
Largest revenue segment share (Facilities Management)Facilities Management · segment_value / revenue * 100
Operating marginOperating income · operating_income / revenue * 100

Assets

Where is the money tied up, and how is the company financed?

Neutral

Liabilities and shareholder equity jointly fund the asset base, with a broadly stable mix.

Accounts receivable: USD 8.78B
Goodwill: USD 7.00B
Cash and cash equivalents: USD 1.49B
Total liabilities: USD 21.30B
Shareholder equity: USD 8.72B

View calculation evidence

YoY periods: H1 2026 compared with H1 2025

Source metrics

GoodwillGoodwill · Goodwill
Shareholder equityTotal equity · StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
Total liabilitiesTotal liabilities · Liabilities
Accounts receivableReceivables, less allowance for doubtful accounts of $136 and $125 at june 30, 2026 and december 31, 2025, respectively · AccountsReceivableNetCurrent
Cash and cash equivalentsCash and cash equivalents · CashAndCashEquivalentsAtCarryingValue

Cash

Did accounting profit ultimately turn into cash?

Watch

Net income is positive while operating cash flow is negative, so reported profit has not become cash.

Free cash flow is negative after capital expenditure.

Net income: USD 522.00M
Operating cash flow: USD −687.00M
Cash conversion: -131.61%
Free cash flow: USD −882.00M

View calculation evidence

YoY periods: H1 2026 compared with H1 2025

Source metrics

Net incomeNet income attributable to cbre group, inc. · NetIncomeLoss
Free cash flowcfo - capex
Cash conversionoperating_cash_flow / net_income * 100
Operating cash flowsum(waterfull.operating)

Shareholders

Did the money earned actually make its way back to shareholders?

Watch

Dividends and net buybacks exceed free cash flow, raising questions about sustainability.

Share repurchases: USD 940.00M
Net shareholder return: USD 940.00M

View calculation evidence

YoY periods: H1 2026 compared with H1 2025

Source metrics

Net shareholder returndividends_paid + share_repurchases - stock_issuance_proceeds
Share repurchasesPayments for repurchase of common stock · PaymentsForRepurchaseOfCommonStock · abs(node_value)

Diluted share count is missing, so dilution cannot be assessed against buybacks.

Financial Insights

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Where did the money come from, and where was it spent?

Where is the money tied up, and how is the company financed?

Did accounting profit ultimately turn into cash?

Did the money earned actually make its way back to shareholders?