CBRE Group Q4 Earnings Beat Estimates, Revenues Rise Y/Y

CBRE Group Inc. CBRE reported fourth-quarter 2025 core earnings per share (EPS) of $2.73, ahead of the Zacks Consensus Estimate of $2.66. The reported figure also increased 17.7% year over year.

Results reflect year-over-year revenue growth across most of its business segments except the Real Estate Investments segment. Double-digit growth in both its transactional and resilient businesses was recorded.

Quarterly revenues increased 11.8% year over year to $11.63 billion. The metric outpaced the Zacks Consensus Estimate of $11.51 billion.

For the full-year 2025, core EPS was $6.38, higher than the prior-year tally of $5.10, while surpassing the Zacks Consensus Estimate of $6.32. This was backed by an 13.4% increase in revenues to $40.55 billion.

CBRE’s Quarter in Detail

CBRE Group’s Advisory Services segment reported a year-over-year revenue increase of 13.1% (12.2% in local currency) to $2.92 billion.

Global leasing revenue rose 14% (13% in local currency). The rise was due to the strength seen in Continental Europe and the U.K. In the U.S., leasing revenue increased by 12%, driven by demand for data centers and strong growth in industrial.

Global property sales revenues grew 19% (17% in local currency) year over year, paced by the United States registering 27% growth. Moreover, mortgage origination revenues rose 18% (same in local currency) due to higher origination fees primarily from debt funds and CMBS lenders.

The Building Operations & Experience segment registered a year-over-year increase of 14.6% (13% in local currency) in revenues to $6.31 billion.

Facilities management revenues rose 13% (12% in local currency), led by strong growth in data center services and continued double-digit growth in Local Facilities Management. Property management revenues increased 28% (27% in local currency), led by the contributions from Industrious, which was acquired in January 2025.

Project Management segment revenues grew 8.3% (7% in local currency) to $2.21 billion year over year. Growth was underpinned by new real estate projects for hyperscaler clients in the U.S. and new infrastructure mandates in the U.K. public sector.

However, the Real Estate Investments segment experienced a decrease of 20% (21.5% in local currency) in revenues to $220 million.

At the end of the fourth quarter of 2025, assets under management increased by more than $9 billion to $155 billion since the end of 2024. This was supported by a capital raise of $11 billion for the year, tailwinds from FX and relatively neutral market movement.

Balance Sheet Position for CBRE

CBRE Group exited the fourth quarter of 2025 with cash and cash equivalents of $1.86 billion, up from $1.67 billion as of Sept. 30, 2025.

As of Dec. 31, 2025, the total liquidity increased to $5.68 billion from $5.2 billion reported in the third quarter of 2025. The total liquidity comprised $1.86 billion in cash in addition to the ability to borrow a total of approximately $3.82 billion under its revolving credit facilities.

The company’s net leverage ratio was 1.24X as of the same date, significantly less than CBRE’s primary debt covenant of 4.25X.

Outlook

For 2026, CBRE issued its core EPS guidance in the range of $7.30-$7.60. The Zacks Consensus Estimate for the same is currently pegged at $7.26, which is below the guided range.

Currently, CBRE Group carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

CBRE Group, Inc. Price, Consensus and EPS Surprise

CBRE Group, Inc. price-consensus-eps-surprise-chart | CBRE Group, Inc. Quote

Upcoming Releases

It’s time to look forward to two stocks from the real estate operation industry, Jones Lang LaSalle JLL and Cushman & Wakefield CWK. Jones Lang and Cushman & Wakefield are slated to report quarterly numbers on Feb. 18 and Feb. 19, respectively.

The Zacks Consensus Estimate for Jones Lang LaSalle’s fourth-quarter 2025 EPS is pegged at $7.25 cents, which implies a 17.9% increase year over year. JLL currently carries a Zacks Rank #3.

The Zacks Consensus Estimate for Cushman & Wakefield’s fourth-quarter 2025 EPS stands at 53 cents, which suggests an increase of 10.4% on a year-over-year basis. CWK currently carries a Zacks Rank #3.

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This article originally published on Zacks Investment Research (zacks.com).

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