CBRE Group (CBRE) FY2016 results: revenue $17.4 billion, up 60.0% on the year
CBRE Group, Inc. (CBRE) reported revenue of $17.4 billion for fiscal 2016, the year ended 31 December 2016, up 60.0% on the year before. Net income was $572 million, up 4.5%, and diluted earnings per share $1.69. The figures are the company's own, from the 10-K it filed with the SEC on 1 March 2017.
Revenue
$17.4 billion
+60.0% on the year
FY2009FY2016
Operating margin
4.7%
7.7% a year earlier
FY2009FY2016
Net income
$572 million
+4.5% on the year
FY2009FY2016
Diluted EPS
$1.69
+3.7% on the year
FY2009FY2016
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2016
FY2015
FY2014
On the year
Last 8 years
Revenue
17,369
10,856
9,050
+60.0%
Cost of revenue
78.5
40.4
5,611
+94.0%
Gross profit
17,291
10,815
3,439
+59.9%
Gross margin
99.5%
99.6%
38.0%
Operating income
815
836
792
-2.4%
Operating margin
4.7%
7.7%
8.8%
Interest expense
145
119
112
+21.8%
Pre-tax income
881
880
777
+0.1%
Income tax
297
321
264
-7.5%
Effective tax rate
33.7%
36.5%
33.9%
Net income
572
547
485
+4.5%
Net margin
3.3%
5.0%
5.4%
Diluted EPS
$1.69
$1.63
$1.45
+3.7%
$ 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
FY2016
FY2015
FY2014
On the year
Last 8 years
Operating cash flow
617
652
662
-5.4%
Capital expenditure
191
139
171
+37.1%
Free cash flow
426
512
491
-16.9%
Free cash flow margin
2.5%
4.7%
5.4%
Cash from investing
-151
n/a
-152
Cash from financing
-221
n/a
-232
Depreciation and amortisation
367
314
265
+16.8%
Share-based compensation
63.5
74.7
59.8
-15.0%
Diluted shares, weighted
338m
336m
334m
+0.6%
Shares outstanding at period end
337m
334m
333m
+0.9%
Balance sheet
$ million
FY2016
FY2015
FY2014
On the year
Last 8 years
Shareholders' equity
3,014
2,713
2,260
+11.1%
Non-controlling interest
42.8
46.4
41.6
-7.9%
Debt
3,803
4,430
2,381
-14.2%
Other liabilities
3,920
3,829
2,885
+2.4%
Total liabilities and equity
10,780
11,018
7,568
-2.2%
Fixed assets
561
530
498
+5.8%
Goodwill
2,981
3,086
2,334
-3.4%
Intangible assets
1,411
1,450
802
-2.7%
Investments
n/a
n/a
60.2
Trading assets
n/a
n/a
62.8
Cash and equivalents
763
540
741
+41.1%
Receivables
2,606
2,472
1,736
+5.4%
Other assets
2,458
2,940
1,334
-16.4%
Total assets
10,780
11,018
7,568
-2.2%
10-K for the year ended 31 December 2016, filed 1 March 2017: the filing.