CBRE Group, Inc. (CBRE) Stock Analysis

Research · Sep 3, 2026

[CBRE] CBRE Thesis 2026: Commercial Real Estate Recovery Drives Revenue and Earnings Scale

CBRE Group, Inc. FY25 revenue $40.55B (+13%); op income $1.29B; NI $1.16B (+20%); EPS $3.85 (+23%). FCF $1.19B; debt $9.99B (+75% — Pearce + Turner & Townsend integration). Buyback $-968M (+54%). Q4 revenue +12% with double-digit leasing + sales. Advisory: EMEA leasing +29% (Continental Europe +29%; UK +16%); US leasing strong (data centers doubled, industrial +20%); Capital Markets sales + commercial mortgage originations high-teens (US sales +27% — office + multifamily; mortgage origination fees +20%). BOE: data center solutions +20%; segment OP +20% (Pearce Services). Project Mgmt: hyperscaler real estate + UK public sector. Real Estate Investments AUM $155B (+$9B). Data Center Solutions targeting $2B in 2026 (+20% YoY); 14% of FY25 core EBITDA. FY26 core EPS guide $7.30-$7.60 (+17% midpoint); Advisory low teens SOP; BOE mid-teens; Project Mgmt low teens; Real Estate Investments matching strong 2025; Q1 ~15% of full-year EPS. Risks: CRE cycle dependency, leverage trajectory, data center hyperscaler concentration, office leasing structural pressure, integration execution, competitive landscape.

Research · Aug 25, 2026

Office Landlords See Market Rents Surpass Passing Rents

Dexus and Swiss Prime Site told August 2026 calls that market rents in their best-located offices now exceed passing rents, so lease expiries add income.

Research · Apr 23, 2026

CBRE Q1: Core EPS Spurs 81% on Data Center Windfall, Lifts 2026 Outlook $0.30

CBRE reported Q1 2026 core EPS of $1.61, up 81% year-over-year, driven by earlier-than-anticipated data center land program profits and 71% critical infrastructure revenue growth. The company raised full-year core EPS guidance by $0.30 at the midpoint to $7.60-$7.80, confirming that infrastructure exposure is translating to measurable margin expansion.