Explain this page
Arphra AIPlain-English read on CBRE Group, Inc.’s valuationRatios & metrics
Profitability, returns on capital, growth, and credit — all derived from the historical income statement, balance sheet, and cash flow rows in our data warehouse.
Quality composite
CMixed
A snapshot of the latest fiscal year’s margins, returns on capital, balance-sheet strength and efficiency, computed from the income statement, balance sheet and cash-flow rows. Source income / balance / cash_flow.
Profitability
Gross margin15.0%
Operating margin3.2%
Net margin2.9%
ROE12.0%
ROA3.7%
ROIC5.8%
Liquidity & leverage
Current ratio1.09×
Quick ratio1.09×
Debt / equity1.04×
Net debt / EBITDA3.15×
Interest coverage6×
Efficiency & per-share
Asset turnover1.31×
Inventory days0
Days sales out.95
FCF / share$3.97
Book value / share$32.01
Valuation multiples
Price- and EV-based multiples plus shareholder yields. Snapshot at each fiscal year-end from key_metrics (FMP).
ActualEstimate
| In USD | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | 2026E | 2027E | 2028E | 2029E |
|---|---|---|---|---|---|---|---|---|---|
| Headline | |||||||||
| Market cap | — | — | — | $40.16B | $47.94B | — | — | — | — |
| Enterprise value | — | — | — | $44.74B | $56.07B | — | — | — | — |
| Multiples | |||||||||
| P / E | — | — | — | — | — | — | — | — | — |
| P / B | — | — | — | — | — | — | — | — | — |
| EV / EBITDA | — | — | — | — | — | — | — | — | — |
| EV / Sales | — | — | — | 1.25 | 1.38 | — | — | — | — |
| EV / FCF | — | — | — | 29.98 | 47.00 | — | — | — | — |
| Yields | |||||||||
| Earnings yield | — | — | — | +2.41% | +2.41% | — | — | — | — |
| Free cash flow yield | — | — | — | +3.72% | +2.49% | — | — | — | — |
| Dividend yield | — | — | — | — | — | — | — | — | — |
Profitability
Margin structure across the last 5 fiscal years
ActualEstimate
| In USD | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | 2026E | 2027E | 2028E | 2029E |
|---|---|---|---|---|---|---|---|---|---|
| Margins | |||||||||
| Gross margin | +22.22% | +21.48% | +19.72% | +19.63% | +14.97% | +18.10% | +18.24% | +17.99% | +17.96% |
| Operating margin | +5.90% | +4.90% | +3.50% | +3.95% | +3.19% | +3.54% | +3.55% | +3.54% | +3.56% |
| EBITDA margin | +7.54% | +6.58% | +5.72% | +6.01% | +6.37% | +6.18% | +6.00% | +6.01% | +5.93% |
| EBIT margin | +5.64% | +4.60% | +3.70% | +4.05% | +4.48% | +4.17% | +4.17% | +4.03% | +3.97% |
| Pre-tax margin | +8.69% | +5.38% | +4.00% | +3.41% | +3.93% | +3.71% | +3.81% | +3.82% | +3.86% |
| Net margin | +6.62% | +4.56% | +3.09% | +2.71% | +2.85% | +2.87% | +2.82% | +2.94% | +2.87% |
| Cost structure | |||||||||
| Cost of revenue / sales | +77.78% | +78.52% | +80.28% | +80.37% | +85.03% | +81.54% | +82.52% | +79.60% | +80.95% |
| R&D intensity | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
| SG&A intensity | +14.68% | +14.92% | +14.10% | +13.69% | +13.67% | +13.68% | +13.89% | +14.13% | +13.54% |
| Effective tax rate | +23.57% | +14.11% | +19.58% | +14.94% | +19.89% | +17.95% | +18.26% | +18.34% | +17.26% |
Returns on capital
ROE / ROA / ROC / ROIC over the relevant capital base, plus the 3-step DuPont decomposition of ROE.
ActualEstimate
| In USD | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | 2026E | 2027E | 2028E | 2029E |
|---|---|---|---|---|---|---|---|---|---|
| Returns | |||||||||
| Return on equity (ROE) | +19.63% | +16.35% | +10.87% | +10.53% | +12.02% | +11.06% | +10.54% | +11.29% | +11.38% |
| Return on assets (ROA) | +8.32% | +6.86% | +4.37% | +3.97% | +3.75% | +4.00% | +3.99% | +4.16% | +3.91% |
| Return on capital (ROC) | +12.08% | +12.50% | +8.04% | +9.49% | +6.60% | +7.87% | +7.80% | +8.01% | +8.09% |
| Return on invested capital (ROIC) | +13.55% | +11.63% | +7.10% | +6.50% | +5.90% | +6.37% | +6.20% | +6.66% | +6.54% |
| Asset turnover | +125.70% | +150.29% | +141.69% | +146.69% | +131.33% | +139.48% | +141.40% | +141.42% | +136.09% |
| DuPont · ROE decomposition | |||||||||
| Net margin | +6.62% | +4.56% | +3.09% | +2.71% | +2.85% | +2.87% | +2.82% | +2.94% | +2.87% |
| Asset turnover (× revenue / assets) | +125.70% | +150.29% | +141.69% | +146.69% | +131.33% | +139.48% | +141.40% | +141.42% | +136.09% |
| Equity multiplier (× assets / equity) | +235.85% | +238.36% | +248.68% | +265.26% | +320.77% | +276.59% | +264.02% | +271.04% | +290.80% |
Activity & efficiency
Turnover ratios and days-outstanding — how efficiently the business converts assets and working capital into sales and cash.
ActualEstimate
| In USD | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | 2026E | 2027E | 2028E | 2029E |
|---|---|---|---|---|---|---|---|---|---|
| Turnover | |||||||||
| Asset turnover | 1.26 | 1.50 | 1.42 | 1.47 | 1.31 | 1.39 | 1.41 | 1.41 | 1.36 |
| Fixed-asset turnover | 14.90 | 16.49 | 16.49 | 16.94 | 13.03 | — | — | — | — |
| Inventory turnover | — | — | — | — | — | — | — | — | — |
| Receivables turnover | 4.06 | 4.93 | 4.18 | 4.42 | 3.84 | — | — | — | — |
| Payables turnover | 7.40 | 7.86 | 7.20 | 7.01 | 7.13 | — | — | — | — |
| Days outstanding | |||||||||
| Days sales outstanding (DSO) | 89.94 | 74.07 | 87.36 | 82.62 | 94.97 | — | — | — | — |
| Days inventory outstanding (DIO) | — | — | — | — | — | — | — | — | — |
| Days payables outstanding (DPO) | 49.33 | 46.43 | 50.69 | 52.08 | 51.22 | — | — | — | — |
| Cash conversion cycle | 40.62 | 27.64 | 36.68 | 30.54 | 43.76 | — | — | — | — |
Cash flow quality
How well reported earnings translate into operating and free cash flow, plus reinvestment intensity.
ActualEstimate
| In USD | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | 2026E | 2027E | 2028E | 2029E |
|---|---|---|---|---|---|---|---|---|---|
| Operating CF / Net income | 1.33 | 1.22 | 0.54 | 1.86 | 1.35 | 1.20 | 1.27 | 1.20 | 1.22 |
| FCF / Net income | 1.21 | 1.03 | 0.23 | 1.54 | 1.03 | 0.89 | 0.93 | 0.90 | 0.89 |
| FCF margin | +8.04% | +4.72% | +0.72% | +4.17% | +2.94% | +2.56% | +2.62% | +2.64% | +2.56% |
| OCF margin | +8.79% | +5.57% | +1.67% | +5.03% | +3.84% | +3.44% | +3.58% | +3.55% | +3.50% |
| CapEx / Revenue | +0.76% | +0.84% | +0.95% | +0.86% | +0.90% | +0.91% | +0.89% | +0.92% | +0.90% |
| CapEx / D&A | 0.38 | 0.41 | 0.47 | 0.44 | 0.39 | — | — | — | — |
| Stock-based comp / Revenue | 0.00% | 0.00% | 0.00% | 0.00% | +0.30% | — | — | — | — |
Per-share & shareholder yield
EPS, book value, sales, cash flow and dividends per share — plus payout / retention.
ActualEstimate
| In USD | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | 2026E | 2027E | 2028E | 2029E |
|---|---|---|---|---|---|---|---|---|---|
| EPS · diluted | 5.41 | 4.29 | 3.15 | 3.14 | 3.85 | 7.73 | 8.91 | 10.12 | 11.26 |
| EPS · basic | 5.48 | 4.36 | 3.20 | 3.16 | 3.88 | 7.76 | 8.94 | 10.13 | 11.29 |
| Book value / share | 27.55 | 26.26 | 29.01 | 29.84 | 32.01 | 37.04 | 42.56 | 44.67 | 43.35 |
| Tangible BV / share | 5.75 | 4.71 | 5.94 | 4.13 | -1.32 | 37.04 | 42.56 | 44.67 | 43.35 |
| Sales / share | 81.67 | 94.07 | 102.22 | 116.11 | 134.83 | 142.88 | 158.87 | 171.24 | 171.55 |
| Operating CF / share | 7.18 | 5.24 | 1.71 | 5.84 | 5.18 | 4.92 | 5.68 | 6.07 | 6.01 |
| Free cash flow / share | 6.56 | 4.44 | 0.73 | 4.84 | 3.97 | 3.66 | 4.16 | 4.52 | 4.39 |
| Dividends / share | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Payout ratio | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
| Retention ratio | +100.00% | +100.00% | +100.00% | +100.00% | +100.00% | +100.00% | +100.00% | +100.00% | +100.00% |
Growth
Year-over-year change for headline P&L lines, plus through-cycle CAGR
ActualEstimate
| In USD | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | 2026E | 2027E | 2028E | 2029E | 8y CAGR |
|---|---|---|---|---|---|---|---|---|---|---|
| Top-line | ||||||||||
| Revenue · YoY | — | +11.11% | +3.64% | +11.95% | +13.37% | +6.99% | +9.97% | +7.60% | +0.70% | +8.09% |
| Gross profit · YoY | — | +7.38% | -4.86% | +11.45% | -13.52% | +29.37% | +10.78% | +6.16% | +0.52% | +5.25% |
| Profit | ||||||||||
| Operating income · YoY | — | -7.64% | -26.12% | +26.50% | -8.42% | +18.79% | +10.18% | +7.32% | +1.18% | +1.47% |
| EBITDA · YoY | — | -2.96% | -9.95% | +17.67% | +20.08% | +3.77% | +6.75% | +7.85% | -0.73% | +4.88% |
| Net income · YoY | — | -23.41% | -29.92% | -1.83% | +19.52% | +7.53% | +8.25% | +12.25% | -1.68% | -2.61% |
| Operating | ||||||||||
| EBIT · YoY | — | -9.51% | -16.65% | +22.78% | +25.31% | -0.37% | +9.90% | +3.94% | -0.77% | +3.44% |
| R&D · YoY | — | — | — | — | — | — | — | — | — | — |
| Per-share | ||||||||||
| EPS · diluted · YoY | — | -20.70% | -26.57% | -0.32% | +22.61% | +100.66% | +15.29% | +13.62% | +11.30% | +9.60% |
| EPS · basic · YoY | — | -20.44% | -26.61% | -1.25% | +22.78% | +100.07% | +15.15% | +13.37% | +11.43% | +9.46% |
Credit & leverage
Balance-sheet health + interest coverage + liquidity. Coverage ratios use period-end debt and trailing interest expense.
ActualEstimate
| In USD | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | 2026E | 2027E | 2028E | 2029E |
|---|---|---|---|---|---|---|---|---|---|
| Leverage | |||||||||
| Total debt | $4.2B | $3.49B | $4.83B | $5.69B | $9.99B | $8.28B | $8.94B | $9.31B | $9.67B |
| Net debt | $1.77B | $2.18B | $3.56B | $4.58B | $8.13B | $6.57B | $7.06B | $7.3B | $7.63B |
| Net debt / EBITDA | 0.84 | 1.07 | 1.95 | 2.13 | 3.15 | 2.45 | 2.47 | 2.37 | 2.49 |
| Debt / equity | 0.45 | 0.41 | 0.53 | 0.62 | 1.04 | 0.74 | 0.70 | 0.69 | 0.74 |
| Debt / assets | +19.01% | +17.03% | +21.40% | +23.35% | +32.36% | +26.63% | +26.51% | +25.64% | +25.45% |
| Equity / assets | +42.40% | +41.95% | +40.21% | +37.70% | +31.18% | +36.16% | +37.88% | +36.89% | +34.39% |
| Coverage | |||||||||
| EBITDA / interest expense | 41.55 | 29.42 | 12.27 | 10.00 | 11.58 | 11.34 | 10.98 | 10.84 | 10.68 |
| Operating income / interest | 32.51 | 21.91 | 7.50 | 6.57 | 5.80 | 6.50 | 6.50 | 6.39 | 6.41 |
| Interest expense | $50.35M | $69M | $149M | $215M | $223M | $236.44M | $260.6M | $284.61M | $286.79M |
| Liquidity | |||||||||
| Current ratio | 1.20 | 1.03 | 1.17 | 1.07 | 1.09 | — | — | — | — |
| Quick ratio | 1.10 | 0.92 | 1.08 | 0.99 | 1.01 | — | — | — | — |
| Cash ratio | 0.29 | 0.16 | 0.15 | 0.12 | 0.15 | — | — | — | — |
| Working capital | $1.66B | $287M | $1.42B | $683M | $1.17B | — | — | — | — |
| Working capital / revenue | +6.00% | +0.93% | +4.45% | +1.91% | +2.88% | — | — | — | — |
Sourced from key_metrics + financial_ratios (loaded by load_fundamentals_extended.py).
Valuation
| Metric | FY 2025 | FY 2024 |
|---|---|---|
| P / E | — | — |
| P / B | — | — |
| EV / EBITDA | — | — |
| EV / Sales | 1.38x | 1.25x |
| Earnings yield | 2.4% | 2.4% |
| FCF yield | 2.5% | 3.7% |
Returns
| Metric | FY 2025 | FY 2024 |
|---|---|---|
| Gross margin | — | — |
| Operating margin | — | — |
| Net margin | — | — |
| ROE | 13.0% | 11.5% |
| ROA | 3.7% | 4.0% |
| ROIC | 4.8% | 7.4% |
Leverage & liquidity
| Metric | FY 2025 | FY 2024 |
|---|---|---|
| Debt / equity | — | — |
| Net debt / EBITDA | 3.15 | 2.13 |
| Interest coverage | — | — |
| Current ratio | 1.09x | 1.07x |
| Quick ratio | — | — |
Methodology. ROE / ROA / ROC use period-end balance-sheet denominators (no average-of- period smoothing). ROIC = Operating Income × (1 − inferred effective tax rate) over invested capital, with the effective tax inferred from net-to-operating income when both are positive and a 25% default otherwise. Net debt / EBITDA, debt ratios, and interest-coverage ratios are calculated point-in-time at each fiscal year-end. TTM = trailing 4 quarters (income / cash flow summed, balance sheet = most-recent quarterly snapshot). Through-cycle CAGR in the Growth panel uses the geometric mean of first-to-last period growth across the window (positive values only).