CBRE GROUP, INC（CBRE）の決算・業績分析
CBRE GROUP, INCの2025年有価証券報告書をAI分析。売上高$39.9B(+13.7%)。営業利益$1.8B。Real Estate。
目次
CBRE GROUP, INCの2025年度 業績サマリー
CBRE GROUP, INC（証券コード: CBRE）の2025年度決算・業績分析。売上高は$39.9B（前年比+13.7%）。営業利益は$1.8B（前年比+24.1%）。純利益は$1.2B（前年比+19.5%）。有価証券報告書を基に、業績変化の要因・リスク・見通し・セグメント構成を AI が分析しました。
CBRE GROUP, INCの2024年度 注目ポイント
※ 直近の2025年度XBRLデータは取込済みですが、AI分析は2024年度の10-Kを対象としています。
- Revenue grew 12.0% YoY to $30.2B (XBRL), driven by improved leasing markets and resilient facilities management.
- Net income declined 23.4% YoY to $1.4B (XBRL), reflecting lower operating income and higher interest/tax expenses (10-K).
- Free cash flow (FCF) totaled $797M (XBRL), with $1.9B returned to shareholders via share repurchases (XBRL).
- Net debt to EBITDA ratio improved to 0.7x (XBRL), despite long-term debt rising to $2.8B (XBRL).
- Operating margin contracted to 5.0% (XBRL), impacted by cost pressures despite improved leasing activity (10-K).
CBRE GROUP, INCの売上高変化の要因
- •Total revenue reached $30.2B (XBRL), a +12.0% YoY increase, driven by improved leasing markets, increased outsourcing demand, and resilient revenue streams like facilities management (10-K). While segment-specific revenue figures are not disclosed in XBRL data, the company's growth reflects broader industry trends and its diversified service model (10-K). Historical revenue growth averaged +8.7% CAGR over five years (XBRL), though operating income growth slowed to +0.5% CAGR (XBRL).
CBRE GROUP, INCの営業利益変化の要因
- •Operating income declined 7.6% YoY to $1.5B (XBRL), with operating margin at 5.0% (XBRL). Net income fell 23.4% YoY to $1.4B (XBRL), driven by lower operating income and higher interest/tax expenses (10-K). EBITDA rose 7.0% YoY to $2.1B (XBRL), reflecting cost discipline despite margin compression. Gross profit data is unavailable (XBRL), and cost of sales details are not provided (10-K).
CBRE GROUP, INCの事業リスクと対応
Economic downturns, inflation, and interest rate volatility could reduce real estate activity and revenue (10-K).
Credit market disruptions may limit capital availability and harm investment management and development services (10-K).
Prolonged low demand for commercial real estate could lower property sale prices and investment returns (10-K).
Geopolitical or economic instability may increase financial uncertainty and reduce client transactions (10-K).
Uncertainty in financial markets makes future performance guidance challenging and potentially inaccurate (10-K).
CBRE GROUP, INCの今後の見通し・業績予想
CBRE GROUP, INCの事業内容
CBRE Group Inc. operates as a global commercial real estate services and investments firm, generating revenue through integrated solutions for real estate investors and occupiers. Key offerings include property leasing, capital markets, mortgage servicing, valuation, property management, and investments in companies like Turner & Townsend and Industrious (10-K). Segments include Advisory Services, Global Workplace Solutions, Real Estate Investments, and new initiatives like Project Management and Building Operations & Experience (10-K). CBRE's competitive advantages include scale, a global knowledge platform, and focus on growth areas like industrial and data centers (10-K). Key customers include nearly 90% of Fortune 100 companies and major institutional investors, with no significant customer concentration (10-K).
CBRE GROUP, INCのAI業績分析レポート（2024年度）
CBRE Group Inc. FY2024 Annual Report Analysis
Highlights
Business Overview
CBRE Group Inc. is a global commercial real estate services and investments firm, generating revenue through integrated solutions for real estate investors and occupiers. Key segments include Advisory Services (leasing, capital markets), Global Workplace Solutions (facilities management), Real Estate Investments, and new initiatives like Project Management and Building Operations & Experience (10-K). Competitive advantages include scale, a global knowledge platform, and focus on growth areas like industrial and data centers (10-K). Key customers include nearly 90% of Fortune 100 companies, with no significant customer concentration (10-K).
Revenue Analysis
Total revenue reached $30.2B (XBRL), a +12.0% YoY increase, driven by improved leasing markets, increased outsourcing demand, and resilient revenue streams like facilities management (10-K). Historical revenue growth averaged +8.7% CAGR over five years (XBRL), though operating income growth slowed to +0.5% CAGR (XBRL). Segment-specific revenue data is not available in XBRL (N/A).
Profitability Analysis
Operating income declined 7.6% YoY to $1.5B (XBRL), with operating margin at 5.0% (XBRL). Net income fell 23.4% YoY to $1.4B (XBRL), driven by lower operating income and higher interest/tax expenses (10-K). EBITDA rose 7.0% YoY to $2.1B (XBRL), reflecting cost discipline despite margin compression. Gross profit data is unavailable (XBRL), and cost of sales details are not provided (N/A).
Balance Sheet Analysis
Equity ratio was 36.7% (XBRL), with long-term debt at $2.8B (XBRL) and net debt of $1.5B (0.7x EBITDA) (XBRL). Current ratio was 1.17x (XBRL), indicating moderate liquidity. Return on equity (ROE) remained strong at 17.0% (XBRL), while return on assets (ROA) and return on invested capital (ROIC) were 6.2% and 7.0% (XBRL), respectively. Cash reserves totaled $1.3B (XBRL).
Cash Flow Analysis
Operating cash flow was $1.6B (XBRL), down from $2.4B in FY2023 (XBRL). Free cash flow (FCF) amounted to $797M (XBRL), with $1.1B in M&A activity (e.g., J&J Worldwide Services) and $613M in depreciation/amortization (XBRL). Financing activities included $1.9B in share repurchases (XBRL), while investing cash flow was -$832M (XBRL).
Working Capital Analysis
Receivables days increased to 77 days (XBRL), reflecting working capital changes impacting operating cash flow (10-K). Asset turnover was 1.34x (XBRL). Inventory and payables days data are unavailable (N/A).
Risks
Outlook
Management expects improved leasing markets, increased outsourcing demand, and lower borrowing costs to drive future results (10-K). Transactional revenue seasonality has decreased due to a more resilient revenue mix (10-K). No explicit forward-looking guidance is provided (10-K).
Historical Time Series
| Metric | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|
| Revenue | 20.8B | 23.3B | 23.2B | 26.9B | 30.2B | 31.5B |
| Operating Income | 1.1B | 1.3B | 970M | 1.6B | 1.5B | 1.1B |
| Net Income | 1.1B | 1.3B | 752M | 1.8B | 1.4B | 986M |
| Total Assets | 16.2B | 18.0B | 22.1B | 20.5B | 22.5B | 24.4B |
| Total Equity | 6.2B | 7.1B | 8.5B | 7.9B | 8.3B | 8.4B |
| Operating Cash Flow | 1.1B | 1.2B | 1.8B | 2.4B | 1.6B | 480M |
Real Estateの企業一覧
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