Short answer
CBRE Group (CBRE) filed its Q3 2025 10-Q quarterly report on Oct 23, 2025 for the quarter ended Sep 30, 2025. Quarterly revenue was $10.1B (up 14.6% year over year) with net income of $363M.
Q3 2025 key financials · XBRL
- Revenue
- $10.1B
- +14.6% YoY · +5.8% QoQ
- Net income
- $363M
- +61.3% YoY · +68.8% QoQ
- Operating margin
- 4.8%
- EPS (diluted)
- $1.21
- +65.8% YoY · +70.4% QoQ
Source: XBRL data from the CBRE Group (CBRE) Q3 2025 10-Q on SEC EDGAR. USD.
CBRE Group Q3 2025 10-Q analysis
AI summary of MD&A and risk factor updates
Management Discussion & Analysis
- Revenue $10.3B Q3 2025, up 13.5% YoY from $9.0B Q3 2024; nine months $28.9B, up 14.0% from $25.4B
- Operating margin 4.7% Q3 2025 vs 4.1% Q3 2024; nine months margin 3.9% vs 3.2%
- Best segment: Advisory Services, revenue up 16.8% Q3 with 16.7% operating margin; Worst segment: REI, revenue down 30.1% Q3, operating margin 5.2% but affected by incentive fees
- Cash provided by operating activities $338M nine months 2025 vs $368M 2024; capital expenditures $222M YTD; repurchased $663M shares YTD, none in Q3
- Management reports improved commercial real estate environment, strong leasing demand, no share repurchases in Q3; effective tax rate decreased to 18.7% Q3 2025 from 21.5% Q3 2024; no updated guidance disclosed
Risk Factors
- No material changes to risk factors from 2024 Annual Report carried forward
- Market risk from global economic uncertainty impacting real estate demand and valuations
- Operational risk from integration of acquisitions and technology investments affecting service delivery
- Financial risk from leverage with $4.9B long-term debt and associated interest rate sensitivity
- Regulatory risk from evolving data privacy laws impacting client and employee information management
Generated from the filing text; verify against the original. 10-K vs 10-Q vs 8-K
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