--- title: "CBRE Group: Business Model" description: "CBRE Group revenue by business segment and geography from its fiscal 2025 Form 10-K, with each part's share, growth and profitability explained." canonical: https://www.getswoopr.com/stocks/companies/cbre-group/business-model/ source: "Swoopr Investment: https://www.getswoopr.com" --- # CBRE Group: Business Model & Revenue Engine ## Direct Answer CBRE Group reports revenue across 4 business segments in its fiscal 2025 Form 10-K. Building Operations Experience is the largest, with $23.2 billion of revenue (57% of the total), followed by Advisory Services at $8.8 billion (22%). 56% of revenue came from the United States. ## How Does CBRE Group Make Money? No single line supplies a majority of revenue: the largest, Building Operations Experience, is 57%, which spreads CBRE Group's exposure across several demand drivers. Between fiscal 2024 and 2025, Building Operations Experience grew fastest (+14.9%) and Real Estate Investments slowest (-15.3%), so the revenue mix tilts toward Building Operations Experience while that gap lasts. | Segment | FY2025 revenue | FY2024 revenue | Share of revenue | Change | | --- | --- | --- | --- | --- | | Building Operations Experience | $23.2 billion | $20.2 billion | 57.3% | 14.9% | | Advisory Services | $8.8 billion | $7.7 billion | 21.8% | 14.4% | | Project Management | $7.7 billion | $6.8 billion | 18.9% | 12.5% | | Real Estate Investments | $879 million | $1.0 billion | 2.2% | -15.3% | ![Bar chart of CBRE Group revenue by segment for fiscal 2025: Building Operations Experience 57.3%, Advisory Services 21.8%, Project Management 18.9%, Real Estate Investments 2.2%.](https://www.getswoopr.com/images/charts/cbre-group-business-model-segment-mix.webp) *CBRE Group revenue by segment as a share of total revenue, from the table above. The largest is highlighted. Select the chart to open it full size.* ## Which CBRE Group Segments Earn the Most? | Segment | FY2025 segment operating income | Segment margin | | --- | --- | --- | | Building Operations Experience | $1.1 billion | 4.7% | | Advisory Services | $1.8 billion | 20.7% | | Project Management | $561 million | 7.3% | | Real Estate Investments | $324 million | 36.9% | Segment operating income is the profit measure CBRE Group reports to its chief operating decision maker for each segment. It usually leaves out corporate costs that are not allocated to a segment, so the segments usually add up to more than consolidated operating income, and margins are comparable within CBRE Group more safely than against another company. ## Where Does CBRE Group's Revenue Come From? Regions follow the definitions in the filing; most companies assign revenue by customer location. | Region | FY2025 revenue | FY2024 revenue | Share of revenue | Change | | --- | --- | --- | --- | --- | | United States | $22.8 billion | $20.2 billion | 56.3% | 13.3% | | All Other Countries | $12.0 billion | $10.6 billion | 29.6% | 12.7% | | United Kingdom | $5.7 billion | $5.0 billion | 14.1% | 14.9% | ## What the Segment Figures Do Not Show The rows above add up to 100% of CBRE Group's reported revenue for fiscal 2025; the difference is intersegment eliminations, corporate revenue or items the company reports outside its segments. Segment definitions are management's choice and change when a company reorganizes, in which case it restates prior years in the next filing, so a multi-year comparison should use the figures from a single filing. Revenue shows where sales come from, not where profit or cash is earned: a small segment can carry most of the margin. ## Where These Numbers Come From Every figure on this page is a value CBRE Group reported in the segment note and revenue disclosures of its Form 10-K filed February 12, 2026 (accession 0001138118-26-000005), read from the SEC's Financial Statement Data Sets. The prior-year column is the comparative figure from that same filing, so it reflects any restatement for a change in segments. Category names are the company's own XBRL labels, lightly reformatted for reading. Rows that only total other rows (for example a "Products" line beside the individual products) are left out so nothing is counted twice. This page is educational and describes reported history for fiscal 2025; it is not a forecast or a recommendation. ## Frequently Asked Questions ### What are CBRE Group's business segments? In its fiscal 2025 Form 10-K, CBRE Group reports revenue for Building Operations Experience, Advisory Services, Project Management and Real Estate Investments. ### Which part of CBRE Group brings in the most revenue? Building Operations Experience, with $23.2 billion of revenue in fiscal 2025, or 57% of the total. ### How much of CBRE Group's revenue comes from outside the United States? 44% in fiscal 2025, by the geographic breakdown CBRE Group reports in its Form 10-K. Companies assign revenue to regions differently (customer location, shipping address or selling entity), so check the filing's definition before comparing companies. ## References - [SEC EDGAR: CBRE GROUP, INC. Form 10-K filed February 12, 2026](https://www.sec.gov/Archives/edgar/data/1138118/000113811826000005/cbre-20251231.htm) - [SEC EDGAR: CBRE GROUP, INC. annual and quarterly filings](https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=1138118&type=10-K) - [SEC: EDGAR application programming interfaces (XBRL frames and submissions data)](https://www.sec.gov/search-filings/edgar-application-programming-interfaces) - [SEC: Financial Statement Data Sets](https://www.sec.gov/data-research/sec-markets-data/financial-statement-data-sets) ## Related Pages - [CBRE Group company dossier](https://www.getswoopr.com/stocks/companies/cbre-group/) - [CBRE Group financial metrics](https://www.getswoopr.com/stocks/companies/cbre-group/metrics/) - [CBRE Group financial risk indicators](https://www.getswoopr.com/stocks/companies/cbre-group/risks/) - [CBRE Group peer comparison](https://www.getswoopr.com/stocks/companies/cbre-group/competitors/) - [CBRE Group business model and revenue mix](https://www.getswoopr.com/stocks/companies/cbre-group/business-model/) - [Fundamental analysis guides](https://www.getswoopr.com/learn/fundamental-analysis/) **[Swoopr Editorial Team](https://www.getswoopr.com/authors/swoopr-editorial-team/)** Swoopr's editorial team produces independent investment education content reviewed for accuracy and clarity. 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