Filing Flows

Filing Flows › Companies › CBRE Group › Cash flow

CBRE Group cash flow, quarter by quarter

Latest: Q3 2026 · from the cash-flow statements filed with the SEC

Free cash flow$743M in Q3 2026 · $938M over twelve months

Operating cash flow$869M
Capital spending−$126M
Free cash flow+$743M
Cash / net income1.8×

Analysis

In Q3 2026, CBRE Group generated $869M of operating cash flow and spent $126M on capital projects, leaving free cash flow of $743M. That is $0 less than in Q3 2025 ($743M).

Over the twelve months to Sep 30, 2026, operating cash flow was $1.4B; the largest uses were other investing ($1.7B), buybacks ($1.4B), capital spending ($465M); besides operations, cash came from net borrowing (+) / repaid (−) ($1.5B), asset & business sales ($841M); the cash balance rose by $11.0M.

Operating cash flow was $869M against net income of $480M — 1.8× profit, cash ran ahead of reported earnings. The largest differences: employee-related liabilities +$394M, payables +$197M, depreciation & amortization +$184M.

Free cash flow

CBRE Group: free cash flow by quarterCBRE Group: free cash flow by quarter$1.2BQ4 2024−$610MQ1 2025−$17.0MQ2 2025$743MQ3 2025$1.1BQ4 2025−$906MQ1 2026$24.0MQ2 2026$743MQ3 2026
Operating cash flow less capital spending.
CBRE Group: operating cash flow against capital spendingCBRE Group: operating cash flow against capital spendingOperating cash flowCapital spending$1.3B$93.0MQ4 2024−$546M$64.0MQ1 2025$57.0M$74.0MQ2 2025$827M$84.0MQ3 2025$1.2B$144MQ4 2025−$825M$81.0MQ1 2026$138M$114MQ2 2026$869M$126MQ3 2026
Latest (Q3 2026): Operating cash flow $869M, Capital spending $126M.

Capital allocation, year by year

CBRE Group: where the cash came from (up) and went (down), by fiscal yearCBRE Group: where the cash came from (up) and went (down), by fiscal yearOperating cash flowNet borrowingAsset salesCapital spendingBuybacksFY2021: Operating cash flow $2.4BFY2021: Net borrowing $478MFY2021: Capital spending −$210MFY2021: Buybacks −$369M$2.8BFY2021FY2022: Operating cash flow $1.6BFY2022: Net borrowing $140MFY2022: Capital spending −$260MFY2022: Buybacks −$1.9B$1.8BFY2022FY2023: Operating cash flow $480MFY2023: Net borrowing $1.1BFY2023: Asset sales $77.0MFY2023: Capital spending −$305MFY2023: Buybacks −$665M$1.6BFY2023FY2024: Operating cash flow $1.7BFY2024: Net borrowing $924MFY2024: Asset sales $235MFY2024: Capital spending −$307MFY2024: Buybacks −$627M$2.9BFY2024FY2025: Operating cash flow $1.6BFY2025: Net borrowing $2.3BFY2025: Asset sales $509MFY2025: Capital spending −$366MFY2025: Buybacks −$968M$4.4BFY2025
Over these 5 years operating cash flow totalled $7.7B; the largest uses were buybacks ($4.5B) and capital spending ($1.4B). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$1.7B
Debt$7.9B
Net debt$6.2B
Due within a year$2.5B

CBRE Group funds itself: free cash flow was $938M over the last twelve months, and $1.7B of cash and investments stands against $7.9B of debt ($2.5B due within a year, 0.7× covered by cash).

CBRE Group: debt maturities by year (FY2025)CBRE Group: debt maturities by year (FY2025)$2.5BYear 1$332MYear 2$928MYear 3$500MYear 4$600MYear 5$2.8BAfter year 5
Principal due in each year as disclosed in the annual report, against $1.7B of cash and investments now.

Where the cash came from and went

CBRE Group: sources (+) and uses (−) of cash, Q3 2026CBRE Group: sources (+) and uses (−) of cash, Q3 2026Operating cash flow$869MNet borrowing (+) / repaid (−)−$397MBuybacks−$218MCash drawn (+) / kept (−)−$181MCapital spending−$126MOther investing−$113MAsset & business sales$84.0MOther financing$66.0MExchange rates$16.0M
CBRE Group: sources (+) and uses (−) of cash, TTM to Q3 2026CBRE Group: sources (+) and uses (−) of cash, TTM to Q3 2026Other investing−$1.7BNet borrowing (+) / repaid (−)$1.5BBuybacks−$1.4BOperating cash flow$1.4BAsset & business sales$841MCapital spending−$465MOther financing−$134MCash drawn (+) / kept (−)−$11.0MExchange rates−$7.0M

From profit to cash

CBRE Group: net income to operating cash flow, Q3 2026CBRE Group: net income to operating cash flow, Q3 2026Net income$480MDepreciation & amortization$184MStock-based pay$51.0MDeferred taxes−$43.0MOther non-cash$90.0MPayables$197MEmployee-related liabilities$394MIncome taxes payable$34.0MOperating cash flow$869M
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.

Every quarter

QuarterOperating cash flowCapital spendingBuybacksNet borrowing (+) / repaid (−)Cash drawn (+) / kept (−)Free cash flow
Q3 2026$869M−$126M−$218M−$397M−$181M$743M
Q2 2026$138M−$114M−$410M$381M$156M$24.0M
Q1 2026−$825M−$81.0M−$530M$1.0B$219M−$906M
Q4 2025$1.2B−$144M−$288M$490M−$205M$1.1B
Q3 2025$827M−$84.0M—−$293M−$277M$743M
Q2 2025$57.0M−$74.0M−$262M$247M−$19.0M−$17.0M
Q1 2025−$546M−$64.0M−$418M$1.8B−$292M−$610M
Q4 2024$1.3B−$93.0M−$517M−$385M−$64.0M$1.2B

CBRE Group: income statement and cash flow

CBRE Group, Q3 2026: revenue $11.5B (+13% year over year), operating margin 4.9%. The chart follows the revenue to costs, profit and cash.

CBRE Group: every quarter, Q/Q and Y/Y → Open in the app

Read automatically from the company’s XBRL cash-flow statements; quarterly figures for the fourth quarter are the year less the first three. Errors are possible. Not investment advice.