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+22.0% | $2.92B+13.1% | $2.24B+16.8% | $2B+14.4% | $1.66B+11.0% | |
| Real Estate Investments | $199M-14.6% | $220M-20.3% | $211M-30.1% | $215M-7.3% | $233M+2.2% | |
| Total Out of Scope of Topic 606 Revenue by Business | ||||||
| Advisory Services | $103M+12.0% | $210M+4.5% | $160M-9.6% | $170M+30.8% | $92M-17.1% | |
| Real Estate Investments | $0-100% | $3M-62.5% | $2M0.0% | $0-100% | $5M+150% | |
| Other income by Business | ||||||
| Advisory Services | $1M0.0% | $2M— | $1M-50.0% | $2M+300% | $1M0.0% | |
| Project Management | $0— | $1M0.0% | $0— | $0+100% | $0-100% | |
| Real Estate Investments | $0— | $0— | $0-100% | $0+100% | $0— | |
| Operating Income by Business | ||||||
| Advisory Services | $375M+34.4% | $709M+13.8% | $444M+23.7% | $380M+32.4% | $279M+20.3% | |
| Project Management | $135M+20.5% | $174M+3.6% | $153M+18.6% | $121M+18.6% | $112M+10.9% | |
| Real Estate Investments | $180M+620% | $201M+34.0% | $73M+9.0% | $25M+150% | $25M-26.5% | |
| Cost of revenue, excluding pass-through costs by Business | ||||||
| Advisory Services | $1.18B+23.7% | $1.84B+25.0% | $1.3B+17.5% | $1.15B— | $955M— | |
| Project Management | $651M+19.0% | $656M+17.6% | $639M+18.1% | $611M— | $547M— | |
| Real Estate Investments | $26M-44.7% | $40M-36.5% | $39M-35.0% | $35M— | $47M— | |
| Operating expenses and allocations by Business | ||||||
| Advisory Services | $469M+9.6% | $502M+2.7% | $481M+7.6% | $455M+3.4% | $428M+2.9% | |
| Project Management | $127M+10.4% | $136M+14.3% | $124M+6.0% | $122M+6.1% | $115M+30.7% | |
| Real Estate Investments | $287M+72.9% | $521M+88.8% | $192M-16.2% | $182M+7.7% | $166M-12.2% | |
| Other segment adjustments by Business | ||||||
| Advisory Services | $9M-30.8% | $149M+452% | $0-100% | $2M— | $13M— | |
| Project Management | $2M-71.4% | $10M— | $2M— | $2M— | $7M+132% | |
| Real Estate Investments | $20M+66.7% | $154M— | $11M-66.7% | $12M+1,100% | $12M-14.3% | |
| Goodwill, Gross by Business | ||||||
| Advisory Services | $2.39B+3.0% | $2.4B-28.5% | $2.39B— | $2.37B— | $2.32B— | |
| Project Management | $1.34B-0.1% | $1.38B— | $1.38B— | $1.39B— | $1.35B— | |
| Real Estate Investments | $420M+1.2% | $422M-29.0% | $422M— | $424M— | $415M— | |
| Reallocation by Business | ||||||
| Advisory Services | $0+100% | —— | —— | —— | -$290M— | |
| Project Management | -$27M-102% | —— | —— | —— | $1.33B— | |
| Real Estate Investments | $0— | $0— | $0— | $0— | $0— | |
| Acquisitions by Business | ||||||
| Advisory Services | -$4M— | $13M+550% | $21M+950% | $3M+50.0% | $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-200% | $0— | $0+100% | -$1M— | $1M0.0% | |
| Project Management | $0— | $0— | $0-100% | $0— | $0— | |
| Real Estate Investments | -$7M0.0% | $8M-90.9% | $49M+250% | -$3M-175% | -$7M-164% | |
| 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— | $380M+192% | $33M+3,400% | $19M— | $0-100% | |
| Pass-through costs by Business | ||||||
| Advisory Services | $8M-33.3% | $11M-38.9% | $13M-23.5% | $13M+8.3% | $12M-14.3% | |
| Project Management | $927M+12.1% | $1.26B+5.0% | $1.11B+24.1% | $939M+20.2% | $827M+4.2% | |
| Real Estate Investments | $0— | $0— | $0— | $0— | $0— | |
| D&A by Business | ||||||
| Advisory Services | $33M+3.1% | $71M+6.0% | $69M+3.0% | $67M+11.7% | $32M-50.8% | |
| Project Management | $26M+4.0% | $26M-7.1% | $28M+7.7% | $26M-7.1% | $25M-13.8% | |
| Real Estate Investments | $4M+33.3% | $4M+33.3% | $2M-50.0% | $3M0.0% | $3M0.0% | |
| Goodwill, Foreign Currency Translation, Gain (Loss) by Business | ||||||
| Advisory Services | $4M+124% | -$3M-136% | —— | -$47M-670% | -$17M-306% | |
| Project Management | $8M+142% | -$3M— | —— | -$40M— | -$19M— | |
| Real Estate Investments | $2M+150% | —— | —— | -$9M-400% | -$4M-233% | |
| Revenue from Contract with Customer, Excluding Assessed Tax by Product | ||||||
| Advisory leasing | $1.04B+20.1% | $1.5B+13.9% | $1.15B+17.6% | $995M+13.7% | $862M+17.6% | |
| Advisory sales | $513M+42.5% | $756M+18.5% | $544M+29.5% | $460M+19.8% | $360M+10.8% | |
| Commercial mortgage origination | $61M+45.2% | $96M+21.5% | $55M+25.0% | $58M+31.8% | $42M+40.0% | |
| Critical infrastructure | $578M+71.0% | —— | —— | —— | $338M— | |
| Development services | $45M-39.2% | $62M-44.6% | $61M-41.3% | $71M-11.3% | $74M-3.9% | |
| Facilities management | $5.23B+17.0% | $5.62B+13.1% | $5.14B+10.8% | $5.12B+17.4% | $4.47B+4.8% | |
| Investment management | $154M0.0% | $155M-0.6% | $148M-24.5% | $144M-3.4% | $154M+3.4% | |
| Loan servicing | $37M-5.1% | $28M+64.7% | $47M+95.8% | $21M-40.0% | $39M+11.4% | |
| Other portfolio services | $75M-7.4% | $87M-18.7% | $90M-6.3% | $96M+4.3% | $81M-12.9% | |
| Project management | $1.84B+15.3% | $2.21B+8.3% | $2.03B+20.4% | $1.79B+14.3% | $1.59B+4.9% | |
| Property management | $659M+13.2% | $660M+22.7% | $648M+29.6% | $638M+29.7% | $582M+36.0% | |
| Valuation | $200M+9.3% | $242M+8.5% | $194M+9.0% | $196M+6.5% | $183M+9.6% | |
| Total Out of Scope of Topic 606 Revenue by Product | ||||||
| Commercial mortgage origination | $20M+81.8% | $104M+15.6% | $80M+12.7% | $69M+56.8% | $11M-60.7% | |
| Development services | $0-100% | $3M-62.5% | $2M0.0% | $1M-66.7% | $5M+150% | |
| Loan servicing | $83M+2.5% | $106M-4.5% | $80M-24.5% | $101M+17.4% | $81M-2.4% | |
| Revenue by Geography | ||||||
| All other countries | $3.1B+23.6% | $3.57B+14.6% | $3.08B+19.7% | $2.84B+12.5% | $2.51B+3.3% | |
| United Kingdom | $1.45B+17.3% | $1.64B+14.8% | $1.45B+15.0% | $1.39B+16.0% | $1.23B+13.7% | |
| United States | $5.98B+16.5% | $6.42B+9.5% | $5.74B+10.1% | $5.53B+18.3% | $5.13B+16.1% |
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.
