Cbre Group, Inc.

Finance
Real Estate
www.cbre.com

Earnings Score
Moat Score
Safety Score

Market Cap $42.09B
PE 44
Debt $3.36B
Cash $1.16B
EV $44.29B
FCF $913.65M

Earnings

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Sales & Net Margins

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Earnings	$958.15M
EBIT	$1.45B
ROE	10%
ROA	6%
FCF	$913.65M
Equity	$9.56B
Growth Stability	74%
PE	43.93
PEG	-8.57
PB	4.4
P/FCF	46.06
P/S	1.23
Price/Cash	0.03
Debt/Equity	0.35
Debt/FCF	3.68
Net Margins	2%
Gross Margins	20%
Op. Margins	4%
Earnings CAGR	9%
Sales Growth YoY	15%
Sales Growth QoQ	8%
Sales CAGR	14%
FCF CAGR	7%
Equity CAGR	17%
Earnings Stability	0.36
Earnings Growth YoY	18%
Earnings Growth QoQ	73%

Earnings CAGR 5Y	-5%
Sales CAGR 5Y	9%
FCF CAGR 5Y	-25%
Equity CAGR 5Y	9%
Earnings CAGR 3Y	6%
Sales CAGR 3Y	6%
FCF CAGR 3Y	-49%
Equity CAGR 3Y	1%
Market Cap	$42.09B
Revenue	$34.31B
Assets	$24.85B
Total Debt	$3.36B
Cash	$1.16B
Shares Outstanding	306.01M
EV	44.29B
Earnings Score	21%
Moat Score	73%
Safety Score	87%
Final Score	60%
Working Capital	1.19B
Current Ratio	1.13
Gross Profit	$6.70B
Shares Growth 3y	-3%
Equity Growth QoQ	4%
Equity Growth YoY	13%

Assets & ROA

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Stockholders Equity & ROE

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CBRE Group provides a wide range of real estate services to owners, occupants, and investors worldwide, including leasing, property and project management, and capital markets advisory. Additionally, CBRE's investment management arm manages over $130 billion for clients across diverse public and private real estate strategies.

SEC Filings

Direct access to Cbre Group, Inc. (CBRE) Annual Reports (10K) and Quarterly Reports (10Q) from the SEC website.

2024
- 10-Q Sep 30
- 10-Q Jun 30
- 10-Q Mar 31
2023
- 10-K Dec 31
- 10-Q Sep 30
- 10-Q Jun 30
- 10-Q Mar 31
2022
- 10-K Dec 31
- 10-Q Sep 30
- 10-Q Jun 30
- 10-Q Mar 31

Sector Comparison

How does Cbre Group, Inc. compare to its competitors?

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Peter Lynch's Chart

This chart shows the current pricing of Cbre Group, Inc. compared to its past. The addition of the earnings trend line provides further insights into the company's earnings power.

CAGR 9%

Stability 36%

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Cbre Group, Inc. Discounted Cash Flow

Fully customizable DCF calculator online for Cbre Group, Inc..

Years

Calculation mode

= $15B

	0	1	2	3	4	5	6	7	8	9	10	TV
fcf	$914M	$976M	$1B	$1.1B	$1.2B	$1.3B	$1.4B	$1.4B	$1.5B	$1.6B	$1.8B	$18B
DCF		$887M	$861M	$836M	$811M	$787M	$764M	$742M	$720M	$699M	$678M	$6.8B
Value	$15B

Competitiveness and MOAT

High margins render the company resilient under dire circumstances, hence able to drive competitors out or acquire them. ROE and ROA measure the average flow generated by each invested dollar. Their marginal value is a forecast of future growth, and it is considered by Buffett and Munger the most important single indicator.

Years	12/2014	12/2015	12/2016	12/2017	12/2018	12/2019	12/2020	12/2021	12/2022	12/2023	TTM
Net Margins	5%	5%	4%	5%	5%	5%	3%	7%	5%	3%	2%
ROA	-	8%	8%	10%	10%	8%	5%	11%	8%	6%	6%
ROE	-	20%	19%	17%	21%	20%	11%	20%	16%	11%	10%

Bad Net Margins (1.9%)

Net Margins are too low to guarantee profitability in case of higher costs or higher interest rates. Furthermore lower margins cause higher earnings’ volatility.

Safety and Stability

Being debt the number one cause of investment losses and company death, the ratio Debt/FCF is of utmost importance to guarantee safety. On the other hand the Graham’s stability measures the drawdown of earnings, hence indicating the reliability of the flow generated by the company.

Years	12/2014	12/2015	12/2016	12/2017	12/2018	12/2019	12/2020	12/2021	12/2022	12/2023	TTM
Debt over FCF	-	8.71	8.99	4.09	3.45	2.96	1.78	1.33	1.6	20.04	3.68
Debt over Equity	1.05	1.62	1.25	0.72	0.62	0.44	0.39	0.31	0.25	0.39	0.35
Growth Stability	-	-	-	100%	100%	100%	74%	100%	100%	74%	74%

Neutral Debt/FCF ratio (3.68)

Net Margins are at a level that is not too high nor too low. They are not a competitive advantage but they are not a competitive disadvantage either.

Good Debt/Equity ratio (0.35)

The company is not overleveraged and has a good balance between equity and debt.

Bad Graham’s Stability (74%)

The company has a bad stability in its earnings, which is a sign of a bad competitive advantage.

Growth

Growth can be dangerous when forecasting, simply projecting the current growth is in general wrong. A company passes through multiple phases, from being young and unprofitable, to the first periods of profitability and high growth, until it arrives at a period of regime with limited growth. Identifying in which phase the company is in may help forecasting.

Years	12/2014	12/2015	12/2016	12/2017	12/2018	12/2019	12/2020	12/2021	12/2022	12/2023	CAGR 5Y
Revenue YoY growth	-	20%	20%	9%	50%	12%	-0%	16%	11%	4%	9%
Earnings YoY growth	-	13%	5%	21%	54%	21%	-41%	144%	-23%	-30%	-5%
Equity YoY growth	-	20%	11%	33%	23%	25%	14%	31%	-8%	5%	9%
FCF YoY growth	-	4%	-17%	68%	26%	3%	68%	38%	-36%	-87%	-25%