Filing Flows › CBRE Group (CBRE) › Q3 2025
CBRE Group (CBRE) Q3 2025 earnings results (third quarter 2025)
10-Q filed Oct 23, 2025
CBRE Group (CBRE) reported revenue of $10.2B for the third quarter 2025 (Q3 2025), +13% from a year earlier and +5% from the quarter before. Operating margin was 4.7%, net earnings $363M (3.6% of revenue).
CBRE Group, Q3 2025: revenue $10.2B (+13% year over year), operating margin 4.7%, net earnings $363M, operating cash flow $827M. The chart follows the revenue to costs, profit and cash.
| Q3 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $10.2B | +5% | +13% |
| Operating profit | $481M | +29% | +31% |
| Net earnings | $363M | +69% | +61% |
| Operating cash flow | $827M | 15× | +44% |
| Free cash flow | $743M | — | +50% |
What changed
Revenue was $10.2B in Q3 2025, up 13% year over year and up 5% from the previous quarter. Facilities management was the largest line at 50% of revenue. Facilities management added $0.50B year over year (up 11%), 42% of the total change. Development services declined 41%.
Operating profit was $0.48B, a 4.7% margin (up 0.6 points year over year). Of the extra revenue versus a year earlier, 10% reached operating profit, above the 4% margin then. Total costs grew 12% against revenue growth of 13%. The fastest-growing cost line was Cost of revenue (+15%). Net earnings were $0.36B, up 61% year over year. The effective tax rate was 18.5%.
Operating cash flow was $0.83B (up 44% year over year), 209% of net income including minority interests. Non-cash charges added back $0.18B of depreciation and amortization and $0.05B of share-based compensation. Working capital and other items added $0.20B. Capital expenditures of $0.08B left free cash flow of $0.74B.
Questions
What was CBRE Group's revenue in the third quarter 2025?
CBRE Group (CBRE) reported revenue of $10.2B for the third quarter 2025 (Q3 2025), +13% from a year earlier and +5% from the quarter before.
Was CBRE Group profitable in the third quarter 2025?
Operating profit was $481M (4.7% of revenue) and net earnings $363M.
Source: CBRE Group 10-Q on SEC EDGAR.