CBRE Group CBRE Business Segments
| TTM Q1 '26 | TTM Q4 '25 | TTM Q3 '25 | TTM Q2 '25 | TTM Q1 '25 | ||
|---|---|---|---|---|---|---|
| Revenue from Contract with Customer, Excluding Assessed Tax by Business | ||||||
| Advisory Services | $9.17B+16.2% | $8.81B+13.9% | $8.47B+37.7% | $8.15B+30.3% | $7.89B+20.6% | |
| Real Estate Investments | $845M-19.0% | $879M-15.3% | $935M-8.7% | $1.03B+10.1% | $1.04B+9.1% | |
| Total Out of Scope of Topic 606 Revenue by Business | ||||||
| Advisory Services | $643M+7.2% | $632M+2.1% | $623M+26.9% | $640M+43.8% | $600M+38.2% | |
| Real Estate Investments | $5M-72.2% | $10M-33.3% | $15M+36.4% | $15M-6.3% | $18M+20.0% | |
| Other income by Business | ||||||
| Advisory Services | $6M+200% | $6M+200% | $4M-65.2% | $5M-73.7% | $2M-93.2% | |
| Project Management | $1M— | $1M-50.0% | $1M-33.3% | $1M-50.0% | $0-100% | |
| Real Estate Investments | $0— | $0— | —— | —— | —— | |
| Operating Income by Business | ||||||
| Advisory Services | $1.91B+23.3% | $1.81B+20.7% | $1.73B+39.0% | $1.64B+41.5% | $1.55B+30.3% | |
| Project Management | $583M+14.1% | $560M+12.0% | $554M+26.1% | $530M+26.9% | $511M+20.9% | |
| Real Estate Investments | $479M+90.1% | $324M+24.1% | $273M+52.5% | $267M+124% | $252M+77.5% | |
| Cost of revenue, excluding pass-through costs by Business | ||||||
| Advisory Services | $5.47B— | $5.25B— | $4.88B— | $4.69B— | —— | |
| Project Management | $2.56B— | $2.45B— | $2.36B— | $2.26B— | —— | |
| Real Estate Investments | $140M— | $161M— | $184M— | $205M— | —— | |
| Operating expenses and allocations by Business | ||||||
| Advisory Services | $1.91B+5.7% | $1.87B+4.1% | $1.85B+6.2% | $1.82B+4.5% | $1.8B+3.5% | |
| Project Management | $509M+9.2% | $497M+13.2% | $480M+9.8% | $473M+8.2% | $466M+6.2% | |
| Real Estate Investments | $1.18B+40.7% | $1.06B+22.9% | $816M+4.2% | $853M+13.7% | $840M+8.1% | |
| Other segment adjustments by Business | ||||||
| Advisory Services | $160M+158% | $164M+235% | $42M+27.3% | $64M+191% | $62M+87.9% | |
| Project Management | $16M+129% | $21M+195% | $11M+165% | $9M+175% | $7M+200% | |
| Real Estate Investments | $197M+328% | $189M+294% | $35M-32.0% | $57M+159% | $46M+87.8% | |
| Goodwill, Gross by Business | ||||||
| Advisory Services | $9.55B— | $9.48B— | $10.44B— | —— | —— | |
| Project Management | $5.48B— | $5.48B— | $4.11B— | —— | —— | |
| Real Estate Investments | $1.69B— | $1.68B— | $1.86B— | —— | —— | |
| Reallocation by Business | ||||||
| Real Estate Investments | $0— | $0— | —— | —— | —— | |
| Acquisitions by Business | ||||||
| Advisory Services | $33M+450% | $37M+363% | $26M— | $7M— | $6M— | |
| 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 | -$2M+75.0% | $0+100% | $0+100% | -$9M-550% | -$8M-420% | |
| Project Management | $0-100% | $0-100% | $0-100% | $1M+100% | $1M+33.3% | |
| Real Estate Investments | $47M-52.5% | $47M-59.8% | $127M+53.0% | $92M-25.2% | $99M-42.8% | |
| 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 | $713M+453% | $432M+204% | $182M+871% | $148M+458% | $129M+288% | |
| Pass-through costs by Business | ||||||
| Advisory Services | $45M-23.7% | $49M-19.7% | $56M+0.9% | $60M+17.6% | $59M+14.6% | |
| Project Management | $4.24B+14.4% | $4.14B+12.7% | $4.08B+22.3% | $3.86B+17.1% | $3.7B+9.6% | |
| Real Estate Investments | $0— | $0— | $0— | $0— | $0— | |
| D&A by Business | ||||||
| Advisory Services | $240M+6.2% | $239M-7.7% | $235M-9.6% | $233M-10.7% | $226M-16.0% | |
| Project Management | $106M-0.9% | $105M-5.4% | $107M-5.5% | $105M-10.6% | $107M-10.6% | |
| Real Estate Investments | $13M0.0% | $12M-7.7% | $11M-20.0% | $13M-3.7% | $13M-8.8% | |
| Revenue from Contract with Customer, Excluding Assessed Tax by Product | ||||||
| Advisory leasing | $4.67B+16.1% | $4.5B+15.5% | $4.32B+16.6% | $4.14B+16.6% | $4.02B+15.2% | |
| Advisory sales | $2.27B+26.1% | $2.12B+20.0% | $2B+25.1% | $1.88B+21.2% | $1.8B+15.2% | |
| Commercial mortgage origination | $270M+29.2% | $251M+27.4% | $234M+44.4% | $223M+43.9% | $209M+46.2% | |
| Development services | $239M-35.4% | $268M-28.2% | $318M-12.4% | $361M+11.1% | $370M+6.3% | |
| Facilities management | $21.11B+14.5% | $20.35B+11.6% | $19.69B+8.3% | $19.2B+10.4% | $18.44B+10.3% | |
| Investment management | $601M-8.2% | $601M-7.5% | $602M-7.4% | $650M+10.0% | $655M+10.5% | |
| Loan servicing | $133M+15.7% | $135M+21.6% | $124M-41.5% | $101M-51.4% | $115M-39.8% | |
| Other portfolio services | $348M-7.4% | $354M-8.8% | $374M-0.3% | $380M+1.9% | $376M+0.3% | |
| Project management | $7.86B+14.3% | $7.62B+11.9% | $7.45B+27.1% | $7.11B+18.8% | $6.88B+11.7% | |
| Property management | $2.61B+23.3% | $2.53B+29.1% | $2.41B+43.0% | $2.26B+37.4% | $2.11B+29.7% | |
| Valuation | $832M+8.3% | $815M+8.4% | $796M+8.0% | $780M+8.0% | $768M+7.0% | |
| Total Out of Scope of Topic 606 Revenue by Product | ||||||
| Commercial mortgage origination | $273M+26.4% | $264M+13.3% | $250M+74.8% | $241M+69.7% | $216M+38.5% | |
| Development services | $6M-66.7% | $11M-26.7% | $16M+45.5% | $16M0.0% | $18M+20.0% | |
| Loan servicing | $370M-3.6% | $368M-4.7% | $373M+3.6% | $399M+26.7% | $384M+32.4% | |
| Revenue by Geography | ||||||
| All other countries | $12.59B+17.5% | $11.99B+12.8% | $11.54B+10.9% | $11.03B+6.8% | $10.72B+4.5% | |
| United Kingdom | $5.92B+15.7% | $5.71B+14.9% | $5.5B+15.0% | $5.31B+14.9% | $5.12B+14.2% | |
| United States | $23.66B+13.3% | $22.81B+13.1% | $22.26B+16.3% | $21.73B+19.4% | $20.87B+17.7% |
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.
