CBRE · Earnings call · 2026Q3T · Full report

Free Cash Flow and Leverage

CBRE GROUP, INC. · 2026-10-22 · Importance 47 · Surprise 6

Trailing-12-month free cash flow totaled $1.8 billion. CBRE remained on track to achieve full-year free-cash-flow conversion of 75% to 85% and expected to end 2026 with slightly above one turn of net leverage. Management did not provide a cash balance or debt amount in the discussion.

Key facts

• CBRE generated $1.8 billion of free cash flow on a trailing 12-month basis.
• CBRE expects full-year 2026 free cash flow conversion within its 75% to 85% target range.
• CBRE expects to end 2026 with slightly above one turn of net leverage.