CBRE · 10-Q · 2026Q3 · Full report

Operating Cash Flow Trends

CBRE GROUP, INC. · 2026-10-22 · Importance 46 · Surprise 56 · No source text

Net cash provided by operating activities was $182 million for the nine months ended September 30, 2026, down from $338 million in the same 2025 period. The decrease reflected net working-capital outflows, primarily higher accounts receivable associated with revenue growth and the timing of cash collections. Net cash used in investing activities declined to $364 million from $664 million, reflecting real-estate disposition proceeds and the absence of the prior-year acquisition of Industrious, partly offset by real-estate acquisition and development spending and capital expenditures. Financing activities used $22 million in the 2026 nine-month period, compared with $832 million of cash provided in 2025, as debt and commercial-paper proceeds were lower and share-repurchase outflows were higher.

Key facts

• Net cash used in investing activities was $364 million for the nine months ended September 30, 2026, compared with $664 million in the same 2025 period; lower use reflected real estate disposition proceeds, partly offset by real estate acquisition and development spending and capital expenditures, while prior-year use was higher due to Industrious's first-quarter 2025 acquisition. source
• Net cash provided by operating activities was $182 million for the nine months ended September 30, 2026, compared with $338 million in the same 2025 period; the decrease was driven by working-capital outflows, largely higher accounts receivable due to revenue growth and collection timing. source
• Net cash used in financing activities was $22 million for the nine months ended September 30, 2026, compared with net cash provided of $832 million in the same 2025 period; the change reflected lower net proceeds from commercial paper and long-term debt and higher common-stock repurchases. source

Impact estimates