Loading...
Docoh

CBRE (CBRE)

CBRE Group, Inc., a Fortune 500 and S&P 500 company headquartered in Dallas, is the world's largest commercial real estate services and investment firm (based on 2020 revenue). The company has more than 100,000 employees serving clients in more than 100 countries. CBRE serves a diverse range of clients with an integrated suite of services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. It routinely posts important information on its website, including corporate and investor presentations and financial information. It intends to use its website as a means of disclosing material, non-public information and for complying with its disclosure obligations under Regulation FD. Such disclosures will be included in the Investor Relations section of our website at https://ir.cbre.com. Accordingly, investors should monitor such portion of its website, in addition to following its press releases, Securities and Exchange Commission filings and public conference calls and webcasts.

Company profile

Ticker
CBRE
Exchange
Website
CEO
Robert Sulentic
Employees
Incorporated
Location
Fiscal year end
Industry (SIC)
Former names
CB RICHARD ELLIS GROUP INC, CB RICHARD ELLIS SERVICES INC, CBRE HOLDING INC
SEC CIK
Subsidiaries
CBRE Services, Inc. • CB/TCC, LLC • CBRE, Inc. • CBRE Holdco, Inc. • CBRE Holdings, LLC • CBRE Partner, Inc. • CBRE Capital Markets, Inc. • CB/TCC Global Holdings Limited • CBRE Holdings Limited • CBRE Limited ...
IRS number
943391143

CBRE stock data

Analyst ratings and price targets

Last 3 months

Calendar

4 Aug 22
16 Aug 22
31 Dec 22
Quarter (USD) Jun 22 Mar 22 Dec 21 Sep 21
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Annual (USD) Dec 21 Dec 20 Dec 19 Dec 18
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Cash burn rate (est.) Burn method: Change in cash Burn method: Operating income Burn method: FCF (opex + capex)
Last Q Avg 4Q Last Q Avg 4Q Last Q Avg 4Q
Cash on hand (at last report) 1.33B 1.33B 1.33B 1.33B 1.33B 1.33B
Cash burn (monthly) 153.97M 77.17M (no burn) (no burn) (no burn) (no burn)
Cash used (since last report) 241.92M 121.26M n/a n/a n/a n/a
Cash remaining 1.09B 1.21B n/a n/a n/a n/a
Runway (months of cash) 7.1 15.7 n/a n/a n/a n/a

Beta Read what these cash burn values mean

Date Owner Security Transaction Code Indirect 10b5-1 $Price #Shares $Value #Remaining
1 Jun 22 Daniel G Queenan Class A Common Stock Sell Dispose S No Yes 83.16 5,000 415.8K 188,841
1 Jun 22 Emma E. Giamartino Class A Common Stock Payment of exercise Dispose F No No 79.59 260 20.69K 22,254
19 May 22 Chandra Dhandapani Class A Common Stock Grant Acquire A No No 0 2,918 0 110,489
19 May 22 J. Christopher Kirk Class A Common Stock Grant Acquire A No No 0 2,918 0 150,606
18 May 22 Sanjiv Yajnik Class A Common Stock Gift Acquire G Yes No 0 2,355 0 15,395
18 May 22 Sanjiv Yajnik Class A Common Stock Gift Dispose G No No 0 2,355 0 6,750
18 May 22 Sanjiv Yajnik Class A Common Stock Grant Acquire A No No 0 2,784 0 9,105
99.7% owned by funds/institutions
13F holders Current Prev Q Change
Total holders 744 760 -2.1%
Opened positions 77 143 -46.2%
Closed positions 93 44 +111.4%
Increased positions 288 281 +2.5%
Reduced positions 273 235 +16.2%
13F shares Current Prev Q Change
Total value 28.75B 35B -17.8%
Total shares 320.31M 330.01M -2.9%
Total puts 821.9K 1.31M -37.1%
Total calls 2.49M 3.27M -23.8%
Total put/call ratio 0.3 0.4 -17.4%
Largest owners Shares Value Change
Vanguard 53.15M $4.86B +1.6%
BLK Blackrock 32M $2.93B -0.8%
STT State Street 14.62M $1.34B -1.7%
VA Partners I 13.22M $668.61M 0.0%
FMR 10.46M $957.21M -19.2%
Baillie Gifford & Co 10.16M $930.24M -8.7%
Harris Associates L P 9.89M $904.68M +1.4%
ValueAct 9.23M $844.97M 0.0%
Geode Capital Management 7.27M $664.31M +3.5%
IVZ Invesco 6.13M $561.16M +0.3%
Largest transactions Shares Bought/sold Change
Norges Bank 0 -3.21M EXIT
FMR 10.46M -2.48M -19.2%
AustralianSuper Pty 0 -2.36M EXIT
American Century Companies 161.99K -2.1M -92.8%
Millennium Management 2.01M +1.07M +113.1%
Findlay Park Partners 2.79M -1.04M -27.1%
BMO Bank of Montreal 1.12M -1M -47.2%
Wellington Management 5M -994.8K -16.6%
Baillie Gifford & Co 10.16M -974.39K -8.7%
Susquehanna International 122.72K -947.61K -88.5%

Financial report summary

?
Risks
  • Our performance is significantly related to general economic, political and regulatory conditions and, accordingly, our business, operations and financial condition could be materially adversely affected by economic slowdowns, liquidity constraints, significant public health events, fiscal or political uncertainty and possible subsequent downturns in commercial real estate asset values, property sales and leasing activities in the geographies or industry sectors that we or our clients serve.
  • Adverse developments in the credit markets may materially harm our business, results of operations and financial condition.
  • Our operations are subject to social, political and economic risks in foreign countries as well as foreign currency volatility.
  • The Covid-19 pandemic has impacted our business operations, and the extent to which it will continue to do so and its impact on our future financial results are uncertain.
  • We have numerous local, regional and global competitors across all of our business lines and the geographies that we serve, and further industry consolidation, fragmentation or innovation could lead to significant future competition.
  • Our growth and financial performance have benefited significantly from acquisitions, which may not perform as expected and similar opportunities may not be available in the future.
  • Our brand and reputation are key assets of our company, and our business may be affected by how we are perceived in the marketplace.
  • Our Real Estate Investments businesses, including our real estate investment programs and co-investment activities, subject us to performance and real estate investment risks which could cause fluctuations in our earnings and cash flow and impact our ability to raise capital for future investments.
  • The success of our Global Workplace Solutions segment depends on our ability to enter into mutually beneficial contracts, deliver high quality levels of service and accurately assess working capital requirements.
  • A significant portion of our loan origination and servicing business depends upon our relationships with U.S. Government Sponsored Enterprises.
  • A failure by third parties to comply with service level agreements or regulatory or legal requirements could result in economic and reputational harm to us.
  • Our success depends upon the retention of our senior management, as well as our ability to attract and retain qualified and experienced employees.
  • Our policies, procedures and programs to safeguard the health, safety and security of our employees and others may not be adequate.
  • We may be subject to actual or perceived conflicts of interest.
  • Infrastructure disruptions may disrupt our ability to manage real estate for clients or may adversely affect the value of real estate investments we make on behalf of clients.
  • Our joint venture activities and affiliate program involve risks that are often outside of our control and that, if realized, could materially harm our business.
  • A significant portion of our revenue is seasonal, which could cause our financial results to fluctuate significantly.
  • Our debt instruments impose operating and financial restrictions on us, and in the event of a default, all of our borrowings would become immediately due and payable.
  • We have limited restrictions on the amount of additional recourse debt we are able to incur, which may intensify the risks associated with our leverage, including our ability to service our indebtedness. In addition, in the event of a credit-ratings downgrade, our ability to borrow and the costs of such borrowings could be adversely affected.
  • Failure to maintain and execute information technology strategies and ensure that our employees adapt to changes in technology could materially and adversely affect our ability to remain competitive in the market.
  • Interruption or failure of our information technology, communications systems or data services could impair our ability to provide our services effectively, which could damage our reputation and materially harm our operating results.
  • Failure to maintain the security of our information and technology networks, including personally identifiable and client information, intellectual property and proprietary business information could materially adversely affect us.
  • We are subject to various litigation and regulatory risks and may face financial liabilities and/or damage to our reputation as a result of litigation or regulatory investigations or proceedings.
  • Our businesses, financial condition, results of operations and prospects could be adversely affected by new laws or regulations or by changes in existing laws or regulations or the application thereof. If we fail to comply with laws and regulations applicable to us, or make incorrect determinations in complex tax regimes, we may incur material financial penalties.
  • Exposure to additional tax liabilities and changes in tax laws and regulations or could adversely affect our financial results.
  • We may be subject to environmental liability as a result of our role as a property or facility manager or developer of real estate.
  • If we are unable to implement and maintain effective internal control over financial reporting, investors may lose confidence in the accuracy and completeness of our financial reports and our results of operations and stock price could be materially adversely affected.
  • Our goodwill and other intangible assets could become impaired, which may require us to take material non-cash charges against earnings.
  • We have equity investments in certain companies that we do not control, which subject us to risks related to their respective businesses.
Management Discussion
  • (1)In conjunction with the acquisition of a 60% interest in Turner & Townsend in the fourth quarter of 2021, we modified our definition of Consolidated Adjusted EBITDA and Segment Operating Profit (SOP) to be inclusive of net income attributable to non-controlling interests and have recast prior periods to conform to this definition.
  • Net revenue, segment operating profit on net revenue margin, core EBITDA and consolidated adjusted EBITDA are not recognized measurements under accounting principles generally accepted in the United States, or GAAP. When analyzing our operating performance, investors should use these measures in addition to, and not as an alternative for, their most directly comparable financial measure calculated and presented in accordance with GAAP. We generally use these non-GAAP financial measures to evaluate operating performance and for other discretionary purposes. We believe these measures provide a more complete understanding of ongoing operations, enhance comparability of current results to prior periods and may be useful for investors to analyze our financial performance because they eliminate the impact of selected costs and charges that may obscure the underlying performance of our business and related trends. Because not all companies use identical calculations, our presentation of net revenue, core EBITDA and consolidated adjusted EBITDA may not be comparable to similarly titled measures of other companies.
  • Net revenue is gross revenue less costs largely associated with subcontracted vendor work performed for clients and generally has no margin. Segment operating profit on net revenue margin is computed by dividing segment operating profit by net revenue and is a better indicator of the segment's margin since it does not include the diluting effect of pass through revenue which generally has no margin.

Content analysis

?
Positive
Negative
Uncertain
Constraining
Legalese
Litigous
Readability
H.S. junior Avg
New words: Aluminum, assignment, BSF, building, clarify, climbing, contractor, diversity, dividing, economy, EMEA, England, escalated, flat, fluctuate, investigation, JV, land, leadership, macro, mandate, mandatory, Mexican, modest, multiple, necessitate, pace, recoverable, remarkable, retroactive, Scotland, stayed, stronger, unchanged, withdraw
Removed: Aid, book, classify, dedicated, enacted, floor, hardship, improvement, longer, low, marketing, notable, redeemed, redemption, reducing, reimbursable, reimbursed, Relief, scheduled, sharply, withdrew