CBRE Group Income Statement

Financials in millions USD. Fiscal year is January - December.

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Revenue	40,550	35,767	31,949	30,828	27,746
Revenue Growth (YoY)	13.37%	11.95%	3.64%	11.11%	16.45%
Cost of Revenue	32,984	28,811	25,675	24,207	21,580
Gross Profit	7,566	6,956	6,274	6,621	6,166
Selling, General & Admin	5,543	5,011	4,562	4,599	4,074
Operating Expenses	6,272	5,685	5,184	5,204	4,600
Operating Income	1,294	1,271	1,090	1,417	1,566
Interest Expense	-216	-215	-149	-69	-50
Earnings From Equity Investments	40	-19	248	229	619
Other Non Operating Income (Expenses)	19	39	27	-12	-25
EBT Excluding Unusual Items	1,137	1,076	1,216	1,565	2,110
Merger & Restructuring Charges	-	-	-	-100	-
Impairment of Goodwill	-	-	-	-26	-
Gain (Loss) on Sale of Investments	-	-	34	-	42
Gain (Loss) on Sale of Assets	459	142	27	244	258
Asset Writedown	-	-	-	-23	-
Other Unusual Items	-2	-	-	-2	-
Pretax Income	1,594	1,218	1,277	1,658	2,410
Income Tax Expense	317	182	250	234	568
Earnings From Continuing Operations	1,277	1,036	1,027	1,424	1,842
Minority Interest in Earnings	-120	-68	-41	-17	-5
Net Income	1,157	968	986	1,407	1,837
Net Income to Common	1,157	968	986	1,407	1,837
Net Income Growth	19.53%	-1.83%	-29.92%	-23.41%	144.28%
Shares Outstanding (Basic)	298	306	308	323	335
Shares Outstanding (Diluted)	301	308	313	328	340
Shares Change (YoY)	-2.36%	-1.44%	-4.62%	-3.54%	0.39%
EPS (Basic)	3.88	3.16	3.20	4.36	5.48
EPS (Diluted)	3.85	3.14	3.15	4.29	5.41
EPS Growth	22.61%	-0.32%	-26.57%	-20.70%	143.69%
Free Cash Flow	1,193	1,401	175	1,369	2,154
Free Cash Flow Per Share	3.97	4.55	0.56	4.18	6.34
Gross Margin	18.66%	19.45%	19.64%	21.48%	22.22%
Operating Margin	3.19%	3.55%	3.41%	4.60%	5.64%
Profit Margin	2.85%	2.71%	3.09%	4.56%	6.62%
Free Cash Flow Margin	2.94%	3.92%	0.55%	4.44%	7.76%
EBITDA	2,222	2,140	1,880	2,030	2,092
EBITDA Margin	5.48%	5.98%	5.88%	6.59%	7.54%
D&A For EBITDA	928	869	790	613	526
EBIT	1,294	1,271	1,090	1,417	1,566
EBIT Margin	3.19%	3.55%	3.41%	4.60%	5.64%
Effective Tax Rate	19.89%	14.94%	19.58%	14.11%	23.57%
Advertising Expenses	89	82	74	85	68.9

Source: S&P Global Market Intelligence. Standard template. Financial Sources.