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Side-by-side financial comparison of CBRE Group (CBRE) and Piedmont Realty Trust, Inc. (PDM). Click either name above to swap in a different company.
CBRE Group is the larger business by last-quarter revenue ($11.5B vs $142.9M, roughly 80.2× Piedmont Realty Trust, Inc.). CBRE Group runs the higher net margin — 3.6% vs -30.3%, a 33.9% gap on every dollar of revenue. On growth, CBRE Group posted the faster year-over-year revenue change (12.3% vs -0.3%). Over the past eight quarters, CBRE Group's revenue compounded faster (21.1% CAGR vs -0.6%).
CBRE can refer to:Canadian Brotherhood of Railway Employees, a railway trade union in Canada Chemical, Biological, Radiological and Explosive Defence Group, a counter-terrorism unit in Singapore CBRE Group, a multinational real estate corporation Certified broadcast radio engineer, a professional title regulated by The Society of Broadcast Engineers
Piedmont Realty Trust, Inc. is a publicly traded real estate investment trust (REIT) that owns, operates, and invests in high-quality office properties primarily located in high-growth metropolitan areas across the United States. It serves corporate tenants across multiple industry sectors including technology, professional services, and healthcare, and pursues stable long-term returns for stakeholders via strategic property management and portfolio optimization.
CBRE vs PDM — Head-to-Head
Income Statement — Q4 2025 vs Q4 2025
| Metric | | |
|---|---|---|
| Revenue | $11.5B | $142.9M |
| Net Profit | $416.0M | $-43.2M |
| Gross Margin | 17.3% | — |
| Operating Margin | 5.4% | — |
| Net Margin | 3.6% | -30.3% |
| Revenue YoY | 12.3% | -0.3% |
| Net Profit YoY | -14.6% | -44.3% |
| EPS (diluted) | $1.38 | $-0.34 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | $11.5B | $142.9M | ||
| Q3 25 | $10.1B | $139.2M | ||
| Q2 25 | $9.6B | $140.3M | ||
| Q1 25 | $8.8B | $142.7M | ||
| Q4 24 | $10.2B | $143.2M | ||
| Q3 24 | $8.8B | $139.3M | ||
| Q2 24 | $8.2B | $143.3M | ||
| Q1 24 | $7.8B | $144.5M |
| Q4 25 | $416.0M | $-43.2M | ||
| Q3 25 | $363.0M | $-13.5M | ||
| Q2 25 | $215.0M | $-16.8M | ||
| Q1 25 | $163.0M | $-10.1M | ||
| Q4 24 | $487.0M | $-30.0M | ||
| Q3 24 | $225.0M | $-11.5M | ||
| Q2 24 | $130.0M | $-9.8M | ||
| Q1 24 | $126.0M | $-27.8M |
| Q4 25 | 17.3% | — | ||
| Q3 25 | 17.7% | — | ||
| Q2 25 | 17.1% | — | ||
| Q1 25 | 17.1% | — | ||
| Q4 24 | 18.7% | — | ||
| Q3 24 | 18.1% | — | ||
| Q2 24 | 17.6% | — | ||
| Q1 24 | 17.1% | — |
| Q4 25 | 5.4% | — | ||
| Q3 25 | 4.8% | — | ||
| Q2 25 | 3.9% | — | ||
| Q1 25 | 3.1% | — | ||
| Q4 24 | 5.8% | — | ||
| Q3 24 | 4.2% | — | ||
| Q2 24 | 3.0% | — | ||
| Q1 24 | 2.6% | — |
| Q4 25 | 3.6% | -30.3% | ||
| Q3 25 | 3.6% | -9.7% | ||
| Q2 25 | 2.2% | -12.0% | ||
| Q1 25 | 1.9% | -7.1% | ||
| Q4 24 | 4.8% | -20.9% | ||
| Q3 24 | 2.5% | -8.3% | ||
| Q2 24 | 1.6% | -6.8% | ||
| Q1 24 | 1.6% | -19.2% |
| Q4 25 | $1.38 | $-0.34 | ||
| Q3 25 | $1.21 | $-0.11 | ||
| Q2 25 | $0.72 | $-0.14 | ||
| Q1 25 | $0.54 | $-0.08 | ||
| Q4 24 | $1.58 | $-0.25 | ||
| Q3 24 | $0.73 | $-0.09 | ||
| Q2 24 | $0.42 | $-0.08 | ||
| Q1 24 | $0.41 | $-0.22 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $1.9B | $731.0K |
| Total DebtLower is stronger | — | $2.2B |
| Stockholders' EquityBook value | $8.9B | $1.5B |
| Total Assets | $30.9B | $4.0B |
| Debt / EquityLower = less leverage | — | 1.49× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $1.9B | $731.0K | ||
| Q3 25 | $1.7B | $3.0M | ||
| Q2 25 | $1.4B | $3.3M | ||
| Q1 25 | $1.4B | $2.9M | ||
| Q4 24 | $1.1B | $109.6M | ||
| Q3 24 | $1.0B | $133.6M | ||
| Q2 24 | $928.0M | $138.5M | ||
| Q1 24 | $1.0B | $3.5M |
| Q4 25 | — | $2.2B | ||
| Q3 25 | — | $2.2B | ||
| Q2 25 | — | $2.2B | ||
| Q1 25 | — | $2.2B | ||
| Q4 24 | — | $2.2B | ||
| Q3 24 | — | $2.2B | ||
| Q2 24 | — | $2.2B | ||
| Q1 24 | — | $2.1B |
| Q4 25 | $8.9B | $1.5B | ||
| Q3 25 | $8.5B | $1.5B | ||
| Q2 25 | $8.3B | $1.5B | ||
| Q1 25 | $8.3B | $1.6B | ||
| Q4 24 | $8.4B | $1.6B | ||
| Q3 24 | $8.7B | $1.6B | ||
| Q2 24 | $8.4B | $1.7B | ||
| Q1 24 | $8.3B | $1.7B |
| Q4 25 | $30.9B | $4.0B | ||
| Q3 25 | $28.6B | $4.0B | ||
| Q2 25 | $27.7B | $4.0B | ||
| Q1 25 | $26.4B | $4.0B | ||
| Q4 24 | $24.4B | $4.1B | ||
| Q3 24 | $24.8B | $4.1B | ||
| Q2 24 | $23.5B | $4.2B | ||
| Q1 24 | $23.0B | $4.0B |
| Q4 25 | — | 1.49× | ||
| Q3 25 | — | 1.43× | ||
| Q2 25 | — | 1.41× | ||
| Q1 25 | — | 1.40× | ||
| Q4 24 | — | 1.40× | ||
| Q3 24 | — | 1.36× | ||
| Q2 24 | — | 1.34× | ||
| Q1 24 | — | 1.23× |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $1.2B | $50.9M |
| Free Cash FlowOCF − Capex | $1.1B | — |
| FCF MarginFCF / Revenue | 9.4% | — |
| Capex IntensityCapex / Revenue | 1.3% | — |
| Cash ConversionOCF / Net Profit | 2.94× | — |
| TTM Free Cash FlowTrailing 4 quarters | $1.2B | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $1.2B | $50.9M | ||
| Q3 25 | $827.0M | $35.8M | ||
| Q2 25 | $57.0M | $50.1M | ||
| Q1 25 | $-546.0M | $3.7M | ||
| Q4 24 | $1.3B | $65.0M | ||
| Q3 24 | $573.0M | $42.9M | ||
| Q2 24 | $287.0M | $66.8M | ||
| Q1 24 | $-492.0M | $23.4M |
| Q4 25 | $1.1B | — | ||
| Q3 25 | $743.0M | — | ||
| Q2 25 | $-17.0M | — | ||
| Q1 25 | $-610.0M | — | ||
| Q4 24 | $1.2B | — | ||
| Q3 24 | $494.0M | — | ||
| Q2 24 | $220.0M | — | ||
| Q1 24 | $-560.0M | — |
| Q4 25 | 9.4% | — | ||
| Q3 25 | 7.4% | — | ||
| Q2 25 | -0.2% | — | ||
| Q1 25 | -7.0% | — | ||
| Q4 24 | 12.2% | — | ||
| Q3 24 | 5.6% | — | ||
| Q2 24 | 2.7% | — | ||
| Q1 24 | -7.2% | — |
| Q4 25 | 1.3% | — | ||
| Q3 25 | 0.8% | — | ||
| Q2 25 | 0.8% | — | ||
| Q1 25 | 0.7% | — | ||
| Q4 24 | 0.9% | — | ||
| Q3 24 | 0.9% | — | ||
| Q2 24 | 0.8% | — | ||
| Q1 24 | 0.9% | — |
| Q4 25 | 2.94× | — | ||
| Q3 25 | 2.28× | — | ||
| Q2 25 | 0.27× | — | ||
| Q1 25 | -3.35× | — | ||
| Q4 24 | 2.75× | — | ||
| Q3 24 | 2.55× | — | ||
| Q2 24 | 2.21× | — | ||
| Q1 24 | -3.90× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
CBRE
| Other | $5.8B | 51% |
| Project Management Segment | $2.2B | 19% |
| Advisory Leasing | $1.5B | 13% |
| Advisory Sales | $756.0M | 7% |
| Property Management | $695.0M | 6% |
| Investment Management Property Management Brokerage And Other Professional Services | $156.0M | 1% |
| Commercial Mortgage Origination | $95.0M | 1% |
| Other Portfolio Services | $87.0M | 1% |
| Loan Servicing | $73.0M | 1% |
| Real Estate Development Services | $60.0M | 1% |
PDM
| Atlanta GA | $45.7M | 32% |
| Dallas TX | $24.1M | 17% |
| Orlando FL | $19.3M | 13% |
| New York NY | $14.7M | 10% |
| Northern Virginia Washington D.C. | $12.9M | 9% |
| Minneapolis MN | $11.4M | 8% |
| Boston MA | $9.8M | 7% |
| Real Estate Other | $7.8M | 5% |
