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Revenue by Segment
Breaks down revenue across different business segments, highlighting which areas drive growth and profitability, and revealing strategic focus areas.
Starting in 2025 CBRE’s revenue mix shifts materially: Building Operations & Experience and Project Management become large, recurring revenue pillars that underpin the company’s upgraded EPS and cash‑flow outlook and reflect heavy exposure to infrastructure and data‑center demand. Advisory remains cyclical but resilient and Real Estate Investments are largely flat, so growth is now concentrated in operational and project services. That upside comes with caveats—BOE margin improvement has an accounting component, land‑sale timing is lumpy, and local constraints on data‑center builds could slow the runway.
CBRE Revenue by Segment
| Date | Advisory Services | Building Operations and Experience | Project Management | Real Estate Investments | Corporate and Eliminations |
|---|---|---|---|---|---|
| Sep 30, 2026 | $2.44B | $6.86B | $2.04B | $203.00M | -$18.00M |
| Jun 30, 2026 | $2.31B | $6.69B | $2.04B | $193.00M | -$4.00M |
| Mar 31, 2026 | $2.02B | $6.49B | $1.84B | $199.00M | -$25.00M |
| Dec 31, 2025 | $2.92B | $6.31B | $2.21B | $220.00M | -$30.00M |
| Sep 30, 2025 | $2.23B | $5.79B | $2.03B | $211.00M | -$9.00M |
| Jun 30, 2025 | $2.00B | $5.76B | $1.79B | $215.00M | -$7.00M |
| Mar 31, 2025 | $1.68B | $2.43B | $774.00M | $233.00M | -$4.00M |
| Dec 31, 2024 | $3.09B | $0.00 | $0.00 | $275.00M | -$1.00M |
| Sep 30, 2024 | $2.40B | $0.00 | $0.00 | $302.00M | -$7.00M |
| Jun 30, 2024 | $2.22B | $0.00 | $0.00 | $232.00M | -$3.00M |
| Mar 31, 2024 | $1.91B | $0.00 | $0.00 | $228.00M | -$6.00M |
| Dec 31, 2023 | $2.59B | $0.00 | $0.00 | $262.00M | -$6.00M |
| Sep 30, 2023 | $2.01B | $0.00 | $0.00 | $210.00M | -$4.00M |
| Jun 30, 2023 | $2.04B | $0.00 | $0.00 | $256.00M | -$4.00M |
| Mar 31, 2023 | $1.85B | $0.00 | $0.00 | $224.00M | -$4.00M |
| Dec 31, 2022 | $2.61B | $0.00 | $0.00 | $291.00M | -$3.00M |
| Sep 30, 2022 | $2.43B | $0.00 | $0.00 | $258.00M | -$6.00M |
| Jun 30, 2022 | $2.59B | $0.00 | $0.00 | $277.00M | -$2.00M |
| Mar 31, 2022 | $2.25B | $0.00 | $0.00 | $284.00M | -$5.00M |
| Dec 31, 2021 | $3.32B | $0.00 | $0.00 | $413.00M | -$5.00M |
| Sep 30, 2021 | $2.41B | $0.00 | $0.00 | $224.00M | -$5.00M |
| Jun 30, 2021 | $2.14B | $0.00 | $0.00 | $243.00M | -$5.00M |
| Mar 31, 2021 | $1.71B | $0.00 | $0.00 | $211.00M | -$6.00M |
| Dec 31, 2020 | $2.33B | $0.00 | $0.00 | $289.00M | -$8.00M |
| Sep 30, 2020 | $1.63B | $0.00 | $0.00 | $170.00M | -$6.00M |
| Jun 30, 2020 | $1.45B | $0.00 | $0.00 | $162.00M | -$5.00M |
| Mar 31, 2020 | $1.80B | $0.00 | $0.00 | $212.00M | -$10.00M |
| Dec 31, 2019 | $2.69B | $0.00 | $0.00 | $247.00M | -$9.00M |
| Sep 30, 2019 | $2.13B | $0.00 | $0.00 | $129.00M | -$4.00M |
| Jun 30, 2019 | $2.08B | $0.00 | $0.00 | $150.00M | -$4.00M |
| Mar 31, 2019 | $1.74B | $0.00 | $0.00 | $135.00M | -$6.00M |