CBRE Group (CBRE) FY2012 results: revenue $6.5 billion, up 10.3% on the year
CBRE Group, Inc. (CBRE) reported revenue of $6.5 billion for fiscal 2012, the year ended 31 December 2012, up 10.3% on the year before. Net income was $316 million, up 31.9%, and diluted earnings per share $0.97. The figures are the company's own, from the 10-K it filed with the SEC on 1 March 2013.
Revenue
$6.5 billion
+10.3% on the year
FY2008FY2012
Operating margin
9.0%
7.8% a year earlier
FY2008FY2012
Net income
$316 million
+31.9% on the year
FY2008FY2012
Diluted EPS
$0.97
+31.1% on the year
FY2008FY2012
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2012
FY2011
FY2010
On the year
Last 8 years
Revenue
6,514
5,905
5,115
+10.3%
Cost of revenue
3,743
3,457
2,960
+8.3%
Gross profit
2,772
2,448
2,155
+13.2%
Gross margin
42.5%
41.5%
42.1%
Operating income
585
463
446
+26.4%
Operating margin
9.0%
7.8%
8.7%
Interest expense
175
150
191
+16.5%
Pre-tax income
489
430
272
+14.0%
Income tax
185
189
130
-2.0%
Effective tax rate
37.9%
44.0%
47.9%
Net income
316
239
200
+31.9%
Net margin
4.8%
4.0%
3.9%
Diluted EPS
$0.97
$0.74
$0.63
+31.1%
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2012
FY2011
FY2010
On the year
Last 8 years
Operating cash flow
291
361
617
-19.4%
Capital expenditure
150
148
68.5
+1.5%
Free cash flow
141
213
548
-33.9%
Free cash flow margin
2.2%
3.6%
10.7%
Cash from investing
-198
-480
-62.5
Cash from financing
-101
711
-784
Depreciation and amortisation
170
116
108
+46.6%
Share-based compensation
51.7
44.3
n/a
+16.7%
Diluted shares, weighted
327m
324m
319m
+1.0%
Shares outstanding at period end
330m
328m
324m
+0.6%
Balance sheet
$ million
FY2012
FY2011
FY2010
On the year
Last 8 years
Shareholders' equity
1,539
1,151
908
+33.7%
Non-controlling interest
143
266
158
-46.3%
Debt
3,751
3,583
2,516
+4.7%
Other liabilities
2,376
2,219
1,540
+7.1%
Total liabilities and equity
7,810
7,219
5,122
+8.2%
Fixed assets
379
295
188
+28.3%
Goodwill
1,890
1,828
1,324
+3.3%
Intangible assets
787
794
333
-0.9%
Investments
57.8
37.4
35.0
+54.6%
Cash and equivalents
1,089
1,093
507
-0.4%
Receivables
1,263
1,135
940
+11.2%
Other assets
2,344
2,035
1,795
+15.2%
Total assets
7,810
7,219
5,122
+8.2%
10-K for the year ended 31 December 2012, filed 1 March 2013: the filing.