| Factor | Score | Distribution | Value | Avg | Rank |
|---|---|---|---|---|---|
Valuation | 47 | 32.2x | 17.8x | Around median | |
Growth | 77 | 15.9% | 7.1% | Top tier | |
Quality | 50 | 10.1% | 4.5% | Around median | |
Safety | 58 | 2.4x | 2.6x | Around median | |
Capital Return | 38 | — | 2.12% | Bottom tier | |
Momentum | 46 | -9.0% | 2.9% | Around median | |
Sentiment | 53 | 8 | 3 | Around median |
Estimates — analyst targets and a simplified DCF, not investment advice.
Ten ratios that matter, each compared against its sector median and average — so you can see whether a number is rich or cheap relative to peers in the same sector.
CBRE Group is a global commercial real estate services company that combines transactional businesses with more resilient recurring businesses. Transactional businesses include property sales, leasing, mortgage origination, development fees, and investment management incentive fees, while resilient businesses include facilities management, critical infrastructure, property and project management, loan servicing, valuations, and recurring investment management fees. The company operates across Advisory Services, Building Operations & Experience, Project Management, and Real Estate Investments, giving it income sources tied to real estate activity and others based on service and operating contracts.
In Q2 of fiscal 2026, revenue was $11.2 billion, gross profit was $2.1 billion, net income was $204 million, and earnings per share were $0.69. This equates to a gross margin of approximately 18.8% and a net income margin of approximately 1.8%, compared with revenue of $10.5 billion and net income of $318 million in Q1 of fiscal 2026. According to management, revenue increased 16%, core earnings before interest, taxes, depreciation, and amortization increased 34%, and core earnings per share increased 30%, while every segment achieved growth exceeding 25% in segment operating profit.
The growth mix was broad in Q2 of fiscal 2026: Advisory Services revenue increased 18%, Project Management 19%, global leasing 24%, and global property sales 20%. In infrastructure, revenue approached $1.2 billion, growing more than 45%, including over $700 million from data center services, which grew approximately 30%. Investment Management also ended the quarter with approximately $155 billion in assets under management, while free cash flow was about $1.7 billion during the twelve months ended that quarter.
The analyst consensus is “Buy,” with an average price target of $179 and a narrow range between $175 and $183. The average is only about 2.7% above the 52-week range high of $174.27, while the annual range extends from $121.69 to $174.27; therefore, the target reflects continued growth more than a significant re-rating above the annual high. The data does not include a valid comparable price-to-earnings ratio, making the fiscal 2026 core earnings per share guidance of $7.80–$7.90 and the risks of slowing growth in fiscal 2027 more important anchors for assessing valuation.
Figures in the text are as of 2026-08-27; the live price is shown at the top of the page.
CBRE's revenue increased 16% in Q2 of fiscal 2026, while core earnings per share rose 30% and core earnings before interest, taxes, depreciation, and amortization increased 34%. Advisory Services revenue grew 18% and Project Management 19%, and every segment achieved growth exceeding 25% in segment operating profit. Global leasing also increased 24% and global property sales 20%, showing that growth was not limited to data centers.
Data center services revenue exceeded $700 million in Q2 of fiscal 2026, an increase of approximately 30%. Services include data center construction, project management, maintenance, and operational oversight, and more than half of revenue comes from post-construction work. Management expects annual growth of approximately 25% over the next five years and targets infrastructure revenue of $10 billion and more than $1 billion in earnings before interest, taxes, depreciation, and amortization by 2030.
The company raised its expected core earnings per share range for fiscal 2026 to $7.80–$7.90, from $7.60–$7.80 previously. The midpoint of the new range represents growth of approximately 23%, and management expects growth exceeding 20% in Q3 of fiscal 2026. Q4 of fiscal 2026 is expected to be similar to the prior year, while management expects at least 15% growth in core earnings per share during fiscal 2027 if the macroeconomic environment or interest rates do not change materially.
Automated analysis for informational purposes only — not investment advice.
Management does not believe the double-digit growth trajectory depends on strong capital markets or higher sales and financing volumes. Nevertheless, global property sales increased 20% in Q2 of fiscal 2026, including 24% in the United States, while mortgage origination revenue increased 8%. These activities could decline if interest rates rise or debt market volatility intensifies, so resilient businesses such as facilities management, infrastructure, and Project Management remain important in balancing the cycle.
CBRE uses agentic artificial intelligence in leasing to collect and assimilate data and help occupier clients plan their portfolios and benchmark them against the market. In Project Management, it applies tools spanning the project lifecycle and focusing on budget, schedule, and risk, while in facilities management it uses them for predictive maintenance, scheduling mobile engineers, and improving back-office operations. Management believes the scale of its platform and the labor-intensive nature of these services limit the risk of displacement, but artificial intelligence's ability to reduce the scope of some work remains a factor to monitor.
Management identified constraints including the availability of electricity and water, local community opposition, supply chain difficulties, and shortages of the labor needed to execute projects. Data centers may have to move toward regions where the required energy and resources can be secured, which could affect execution timing and activity locations. Nevertheless, CBRE expects continued strong growth in data center construction and sees a longer-term opportunity in operating, maintaining, and retrofitting them after construction.
