CBRE Group (CBRE) FY2024 results: revenue $35.8 billion, up 12.0% on the year
CBRE Group, Inc. (CBRE) reported revenue of $35.8 billion for fiscal 2024, the year ended 31 December 2024, up 12.0% on the year before. Net income was $968 million, down 1.8%, and diluted earnings per share $3.14. The figures are the company's own, from the 10-K it filed with the SEC on 14 February 2025.
Revenue
$35.8 billion
+12.0% on the year
FY2017FY2024
Operating margin
4.0%
3.5% a year earlier
FY2017FY2024
Net income
$968 million
-1.8% on the year
FY2017FY2024
Diluted EPS
$3.14
-0.3% on the year
FY2017FY2024
this yearthe year beforeHover a bar for its figure.
$ 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
FY2024
FY2023
FY2022
On the year
Last 8 years
Operating cash flow
1,708
480
1,629
+255.8%
Capital expenditure
307
305
260
+0.7%
Free cash flow
1,401
175
1,369
+700.6%
Free cash flow margin
3.9%
0.5%
4.4%
Cash from investing
-1,514
-681
-832
Cash from financing
-221
154
-1,766
Depreciation and amortisation
674
622
613
+8.4%
Share-based compensation
146
96.0
160
+52.1%
Buybacks
627
665
1,850
-5.7%
Diluted shares, weighted
308m
313m
328m
-1.4%
Shares outstanding at period end
302m
305m
311m
-0.9%
Balance sheet
$ million
FY2024
FY2023
FY2022
On the year
Last 8 years
Shareholders' equity
8,411
8,267
7,853
+1.7%
Non-controlling interest
781
800
752
-2.4%
Redeemable equity
0.0
0.0
0.0
Debt
4,187
3,495
2,183
+19.8%
Operating lease liabilities
1,307
1,089
1,080
+20.0%
Finance lease liabilities
122
72.0
58.1
+69.4%
Other liabilities
9,575
8,825
8,586
+8.5%
Total liabilities and equity
24,383
22,548
20,513
+8.1%
Fixed assets
914
907
836
+0.8%
Goodwill
5,621
5,129
4,868
+9.6%
Intangible assets
2,298
2,081
2,193
+10.4%
Securities held for sale or to maturity
43.0
n/a
n/a
Cash and equivalents
1,114
1,265
1,318
-11.9%
Receivables
7,005
6,370
5,327
+10.0%
Other assets
7,388
6,796
5,971
+8.7%
Total assets
24,383
22,548
20,513
+8.1%
10-K for the year ended 31 December 2024, filed 14 February 2025: the filing.