Filing Flows › CBRE Group (CBRE) › Q4 2025
CBRE Group (CBRE) Q4 2025 earnings results (fourth quarter 2025)
10-K filed Feb 12, 2026
CBRE Group (CBRE) reported revenue of $11.7B for the fourth quarter 2025 (Q4 2025), +13% from a year earlier and +15% from the quarter before. Operating margin was 5.3%, net earnings $416M (3.5% of revenue).
CBRE Group, Q4 2025: revenue $11.7B (+13% year over year), operating margin 5.3%, net earnings $416M, operating cash flow $1.2B. The chart follows the revenue to costs, profit and cash.
| Q4 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $11.7B | +15% | +13% |
| Operating profit | $622M | +29% | +5% |
| Net earnings | $416M | +15% | -15% |
| Operating cash flow | $1.2B | +48% | -9% |
| Free cash flow | $1.1B | +45% | -14% |
What changed
Revenue was $11.7B in Q4 2025, up 13% year over year and up 15% from the previous quarter. Facilities management was the largest line at 48% of revenue.
Operating profit was $0.62B, a 5.3% margin (down 0.4 points year over year). Of the extra revenue versus a year earlier, 2% reached operating profit, below the 6% margin then. Total costs grew 13% against revenue growth of 13%. The fastest-growing cost line was Cost of revenue (+14%). Net earnings were $0.42B, down 15% year over year. The effective tax rate was 20.2%.
Operating cash flow was $1.2B (down 9% year over year), 271% of net income including minority interests. Non-cash charges added back $0.19B of depreciation and amortization and $0.01B of share-based compensation. Working capital and other items added $0.57B. Capital expenditures of $0.14B left free cash flow of $1.1B.
Questions
What was CBRE Group's revenue in the fourth quarter 2025?
CBRE Group (CBRE) reported revenue of $11.7B for the fourth quarter 2025 (Q4 2025), +13% from a year earlier and +15% from the quarter before.
Was CBRE Group profitable in the fourth quarter 2025?
Operating profit was $622M (5.3% of revenue) and net earnings $416M.
Source: CBRE Group 10-K on SEC EDGAR.