Filing Flows › CBRE Group (CBRE) › Q2 2026 › vs Q1 2026
CBRE Group (CBRE) Q2 2026 vs Q1 2026 (quarter over quarter)
CBRE Group's revenue rose $699M (+7%) from $10.5B in Q1 2026 to $11.2B in Q2 2026. The biggest changes: Project management +$207M (+11%); Advisory leasing +$194M (+19%); Critical infrastructure +$98.0M (+17%). Operating margin 3.3% against 4.9% (-1.6 pts).
CBRE Group, Q2 2026: revenue $11.2B (+16% year over year), operating margin 3.3%, net earnings $204M, operating cash flow $138M. The chart draws each line against Q1 2026, the increases inside each band.
Margins
| Q2 2026 | Q1 2026 | Change | |
|---|---|---|---|
| Operating margin | 3.3% | 4.9% | -1.6 pts |
| Net margin | 1.8% | 3.0% | -1.2 pts |
| Free cash flow margin | 0.2% | -8.6% | +8.8 pts |
Every line
| Line | Q2 2026 | Q1 2026 | Change | % |
|---|---|---|---|---|
| Facilities management | $5.3B | $5.2B | $82.0M | +2% |
| Project management | $2.0B | $1.8B | $207M | +11% |
| Advisory leasing | $1.2B | $1.0B | $194M | +19% |
| Property management | $695M | $659M | $36.0M | +5% |
| Critical infrastructure | $676M | $578M | $98.0M | +17% |
| Advisory sales | $551M | $513M | $38.0M | +7% |
| Valuation | $220M | $200M | $20.0M | +10% |
| Investment management | $149M | $154M | −$5.0M | -3% |
| Other portfolio services | $88.0M | $75.0M | $13.0M | +17% |
| Commercial mortgage origination | $67.0M | $61.0M | $6.0M | +10% |
| Development services | $44.0M | $45.0M | −$1.0M | -2% |
| Loan servicing | $39.0M | $37.0M | $2.0M | +5% |
| Other revenues | $112M | $103M | $9.0M | +9% |
| Revenue | $11.2B | $10.5B | $699M | +7% |
| Operating profit | $365M | $511M | −$146M | -29% |
| Costs & expenses | $10.9B | $10.0B | $845M | +8% |
| Pre-tax earnings | $315M | $454M | −$139M | -31% |
| Other expense, net | $50.0M | $57.0M | −$7.0M | -12% |
| Cost of revenue | $9.1B | $8.7B | $465M | +5% |
| Other operating costs | $1.7B | $1.3B | $380M | +28% |
| Net earnings | $204M | $318M | −$114M | -36% |
| Minority interests | $43.0M | $24.0M | $19.0M | +79% |
| Income tax | $68.0M | $112M | −$44.0M | -39% |
| Operating cash sources | $453M | $548M | −$95.0M | -17% |
| Depreciation & amortization | $190M | $182M | $8.0M | +4% |
| Share-based compensation | $59.0M | $48.0M | $11.0M | +23% |
| Working capital & other | $315M | $1.4B | −$1.1B | -77% |
| Operating cash flow | $138M | −$825M | $963M | — |
| Free cash flow (OCF − capex) | $24.0M | −$906M | $930M | — |
| Capital expenditures | $114M | $81.0M | $33.0M | +41% |
Questions
How much did CBRE Group's revenue grow quarter over quarter in Q2 2026?
CBRE Group's revenue rose $699M (+7%) from $10.5B in Q1 2026 to $11.2B in Q2 2026.
What drove CBRE Group's revenue change in Q2 2026?
Project management +$207M (+11%); Advisory leasing +$194M (+19%); Critical infrastructure +$98.0M (+17%).