CBRE Group CBRE Business Segments
| Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | ||
|---|---|---|---|---|---|---|
| Revenue from Contract with Customer, Excluding Assessed Tax by Business | ||||||
| Advisory Services | $2.02B-30.6% | $2.92B+30.4% | $2.24B+12.0% | $2B+20.3% | $1.66B-35.6% | |
| Real Estate Investments | $199M-9.5% | $220M+4.3% | $211M-1.9% | $215M-7.7% | $233M-15.6% | |
| Total Out of Scope of Topic 606 Revenue by Business | ||||||
| Advisory Services | $103M-51.0% | $210M+31.3% | $160M-5.9% | $170M+84.8% | $92M-54.2% | |
| Real Estate Investments | $0-100% | $3M+50.0% | $2M— | $0-100% | $5M-37.5% | |
| Other income by Business | ||||||
| Advisory Services | $1M-50.0% | $2M+100% | $1M-50.0% | $2M+100% | $1M— | |
| Project Management | $0-100% | $1M— | $0— | $0— | $0-100% | |
| Real Estate Investments | $0— | $0— | $0— | $0— | $0— | |
| Operating Income by Business | ||||||
| Advisory Services | $375M-47.1% | $709M+59.7% | $444M+16.8% | $380M+36.2% | $279M-55.2% | |
| Project Management | $135M-22.4% | $174M+13.7% | $153M+26.4% | $121M+8.0% | $112M-33.3% | |
| Real Estate Investments | $180M-10.4% | $201M+175% | $73M+192% | $25M0.0% | $25M-83.3% | |
| Cost of revenue, excluding pass-through costs by Business | ||||||
| Advisory Services | $1.18B-36.0% | $1.84B+42.1% | $1.3B+12.9% | $1.15B+20.4% | $955M-35.3% | |
| Project Management | $651M-0.8% | $656M+2.7% | $639M+4.6% | $611M+11.7% | $547M-2.0% | |
| Real Estate Investments | $26M-35.0% | $40M+2.6% | $39M+11.4% | $35M-25.5% | $47M-25.4% | |
| Operating expenses and allocations by Business | ||||||
| Advisory Services | $469M-6.6% | $502M+4.4% | $481M+5.7% | $455M+6.3% | $428M-12.5% | |
| Project Management | $127M-6.6% | $136M+9.7% | $124M+1.6% | $122M+6.1% | $115M-3.4% | |
| Real Estate Investments | $287M-44.9% | $521M+171% | $192M+5.5% | $182M+9.6% | $166M-39.9% | |
| Other segment adjustments by Business | ||||||
| Advisory Services | $9M-94.0% | $149M— | $0-100% | $2M-84.6% | $13M-51.9% | |
| Project Management | $2M-80.0% | $10M+400% | $2M0.0% | $2M-71.4% | $7M— | |
| Real Estate Investments | $20M-87.0% | $154M+1,300% | $11M-8.3% | $12M0.0% | $12M— | |
| Goodwill, Gross by Business | ||||||
| Advisory Services | $2.39B-0.3% | $2.4B+0.7% | $2.39B+0.5% | $2.37B+2.2% | $2.32B-30.8% | |
| Project Management | $1.34B-2.5% | $1.38B+0.2% | $1.38B-0.7% | $1.39B+3.0% | $1.35B— | |
| Real Estate Investments | $420M-0.5% | $422M0.0% | $422M-0.5% | $424M+2.2% | $415M-30.1% | |
| Reallocation by Business | ||||||
| Advisory Services | $0— | —— | —— | —— | -$290M— | |
| Project Management | -$27M— | —— | —— | —— | $1.33B— | |
| Real Estate Investments | $0— | $0— | $0— | $0— | $0— | |
| Acquisitions by Business | ||||||
| Advisory Services | -$4M-131% | $13M-38.1% | $21M+600% | $3M— | $0-100% | |
| Project Management | $0— | $0— | $0— | $0— | $0— | |
| Real Estate Investments | $0— | $0— | $0— | $0— | $0— | |
| Equity (loss) income from unconsolidated subsidiaries by Business | ||||||
| Advisory Services | -$1M— | $0— | $0+100% | -$1M-200% | $1M— | |
| Project Management | $0— | $0— | $0— | $0— | $0— | |
| Real Estate Investments | -$7M-188% | $8M-83.7% | $49M+1,733% | -$3M+57.1% | -$7M-108% | |
| Gain on disposition of real estate by Business | ||||||
| Advisory Services | $0— | $0— | $0— | $0— | $0— | |
| Project Management | $0— | $0— | $0— | $0— | $0— | |
| Real Estate Investments | $281M-26.1% | $380M+1,052% | $33M+73.7% | $19M— | $0-100% | |
| Pass-through costs by Business | ||||||
| Advisory Services | $8M-27.3% | $11M-15.4% | $13M0.0% | $13M+8.3% | $12M-33.3% | |
| Project Management | $927M-26.3% | $1.26B+13.0% | $1.11B+18.5% | $939M+13.5% | $827M-31.0% | |
| Real Estate Investments | $0— | $0— | $0— | $0— | $0— | |
| D&A by Business | ||||||
| Advisory Services | $33M-53.5% | $71M+2.9% | $69M+3.0% | $67M+109% | $32M-52.2% | |
| Project Management | $26M0.0% | $26M-7.1% | $28M+7.7% | $26M+4.0% | $25M-10.7% | |
| Real Estate Investments | $4M0.0% | $4M+100% | $2M-33.3% | $3M0.0% | $3M0.0% | |
| Goodwill, Foreign Currency Translation, Gain (Loss) by Business | ||||||
| Advisory Services | $4M+233% | -$3M— | —— | -$47M-176% | -$17M-306% | |
| Project Management | $8M+367% | -$3M— | —— | -$40M-111% | -$19M— | |
| Real Estate Investments | $2M— | —— | —— | -$9M-125% | -$4M-233% | |
| Revenue from Contract with Customer, Excluding Assessed Tax by Product | ||||||
| Advisory leasing | $1.04B-30.8% | $1.5B+30.7% | $1.15B+15.1% | $995M+15.4% | $862M-34.3% | |
| Advisory sales | $513M-32.1% | $756M+39.0% | $544M+18.3% | $460M+27.8% | $360M-43.6% | |
| Commercial mortgage origination | $61M-36.5% | $96M+74.5% | $55M-5.2% | $58M+38.1% | $42M-46.8% | |
| Critical infrastructure | $578M— | —— | —— | —— | $338M— | |
| Development services | $45M-27.4% | $62M+1.6% | $61M-14.1% | $71M-4.1% | $74M-33.9% | |
| Facilities management | $5.23B-7.0% | $5.62B+9.4% | $5.14B+0.4% | $5.12B+14.5% | $4.47B-10.1% | |
| Investment management | $154M-0.6% | $155M+4.7% | $148M+2.8% | $144M-6.5% | $154M-1.3% | |
| Loan servicing | $37M+32.1% | $28M-40.4% | $47M+124% | $21M-46.2% | $39M+129% | |
| Other portfolio services | $75M-13.8% | $87M-3.3% | $90M-6.3% | $96M+18.5% | $81M-24.3% | |
| Project management | $1.84B-16.9% | $2.21B+9.2% | $2.03B+13.5% | $1.79B+12.0% | $1.59B-22.0% | |
| Property management | $659M-0.2% | $660M+1.9% | $648M+1.6% | $638M+9.6% | $582M+8.2% | |
| Valuation | $200M-17.4% | $242M+24.7% | $194M-1.0% | $196M+7.1% | $183M-17.9% | |
| Total Out of Scope of Topic 606 Revenue by Product | ||||||
| Commercial mortgage origination | $20M-80.8% | $104M+30.0% | $80M+15.9% | $69M+527% | $11M-87.8% | |
| Development services | $0-100% | $3M+50.0% | $2M+100% | $1M-80.0% | $5M-37.5% | |
| Loan servicing | $83M-21.7% | $106M+32.5% | $80M-20.8% | $101M+24.7% | $81M-27.0% | |
| Revenue by Geography | ||||||
| All other countries | $3.1B-13.2% | $3.57B+16.0% | $3.08B+8.2% | $2.84B+13.4% | $2.51B-19.5% | |
| United Kingdom | $1.45B-11.9% | $1.64B+13.6% | $1.45B+4.3% | $1.39B+12.3% | $1.23B-13.8% | |
| United States | $5.98B-6.8% | $6.42B+11.9% | $5.74B+3.8% | $5.53B+7.6% | $5.13B-12.4% |
Chart any of these lines over time, or line them up against competitors.
Compare these in charts →Questions, answered.
- How does CBRE Group break its business down?
- CBRE Group (CBRE) reports revenue from contract with customer, excluding assessed tax by business across 2 parts — Advisory Services and Real Estate Investments. Each is extracted from the segment footnotes and tracked over time.
- Where does CBRE Group's segment data come from?
- Segment breakdowns are pulled from the segment footnotes in CBRE Group's SEC filings (the XBRL dimensional tags), so every line ties back to a reported figure. Switch between quarterly, annual, and TTM, or open any segment for its full history.
