CBRE Group vs Newmark Group
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KIRA’s take AI analyst
I put CBRE Group and Newmark Group side by side, using each one’s latest annual report. Here is what stands out:
- CBRE Group is the larger business, with $40.6B of revenue in fiscal 2025 against $3.3B for Newmark Group, about 12 times as much.
- Newmark Group grew revenue faster (20.3%, against 13.4%).
- Newmark Group kept more of each dollar of sales as operating profit (7.1% operating margin, against 4.3%).
- Newmark Group turned more of its sales into free cash flow (4.3% FCF margin, against 2.9%).
- CBRE Group earned a higher return on the capital invested in it (10.2%, against 8.6%).
- Investors pay more for each dollar of CBRE Group’s earnings: a P/E of 26.3x against 14.2x for Newmark Group.
Who comes out ahead
Of the 10 measures where higher (or lower) is clearly better, how many each company leads.
CBRE Group
CBRE
3/10
Return on capitalReturn on equityShare count change
Newmark Group
NMRK
6/10
Revenue growth5-year growthOperating marginNet marginFCF marginNet debt / EBITDA
Side by side
Best in the row
| Latest fiscal year | CBRE FY25 | NMRK FY25 |
|---|---|---|
| Size | ||
| Market cap | $35.8B | $2.9B |
| Revenue | $40.6B | $3.3B |
| Free cash flow | $1.2B | $143M |
| Net income | $1.2B | $126M |
| Growth | ||
| Revenue growth | 13.4% | 20.3% |
| 5-year growth | 11.2% | 11.6% |
| Share count change | −2.4% | 42.6% |
| Profitability | ||
| Gross margin | 18.7% | — |
| Operating margin | 4.3% | 7.1% |
| Net margin | 2.9% | 3.8% |
| FCF margin | 2.9% | 4.3% |
| Return on capital | 10.2% | 8.6% |
| Return on equity | 13.4% | 9.5% |
| Balance sheet | ||
| Net debt | $6.0B | $443M |
| Net debt / EBITDA | 2.4x | 1.1x |
| Dividends and buybacks | $968M | $127M |
| Valuation & quality | ||
| P/E | 26.3x | 14.2x |
| Piotroski F-score | 7 | 7 |
Ten years
Revenue
Operating margin
Free cash flow
Return on capital
Each company's latest fiscal year; fiscal years end in different months. The best value in each row is highlighted where higher (or lower) is clearly better. Not investment advice.