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Side-by-side financial comparison of CBRE Group (CBRE) and Smurfit Westrock (SW). Click either name above to swap in a different company.
CBRE Group is the larger business by last-quarter revenue ($10.5B vs $7.6B, roughly 1.4× Smurfit Westrock). CBRE Group runs the higher net margin — 3.0% vs 1.3%, a 1.7% gap on every dollar of revenue. On growth, CBRE Group posted the faster year-over-year revenue change (22.0% vs 0.5%). Smurfit Westrock produced more free cash flow last quarter ($612.0M vs $-605.0M). Over the past eight quarters, Smurfit Westrock's revenue compounded faster (60.8% CAGR vs 13.0%).
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
Smurfit Westrock plc is an Irish company based in Dublin, Ireland that manufactures corrugated and paper-based packaging. Its stock is listed on the New York Stock Exchange and the London Stock Exchange.
CBRE vs SW — Head-to-Head
Income Statement — Q1 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $10.5B | $7.6B |
| Net Profit | $318.0M | $97.0M |
| Gross Margin | 17.6% | 18.2% |
| Operating Margin | 4.9% | 5.1% |
| Net Margin | 3.0% | 1.3% |
| Revenue YoY | 22.0% | 0.5% |
| Net Profit YoY | 95.1% | -33.6% |
| EPS (diluted) | — | $0.18 |
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.
| Q1 26 | $10.5B | — | ||
| Q4 25 | $11.5B | $7.6B | ||
| Q3 25 | $10.1B | $8.0B | ||
| Q2 25 | $9.6B | $7.9B | ||
| Q1 25 | $8.8B | $7.7B | ||
| Q4 24 | $10.2B | $7.5B | ||
| Q3 24 | $8.8B | $7.7B | ||
| Q2 24 | $8.2B | $3.0B |
| Q1 26 | $318.0M | — | ||
| Q4 25 | $416.0M | $97.0M | ||
| Q3 25 | $363.0M | $246.0M | ||
| Q2 25 | $215.0M | $-28.0M | ||
| Q1 25 | $163.0M | $384.0M | ||
| Q4 24 | $487.0M | $146.0M | ||
| Q3 24 | $225.0M | $-150.0M | ||
| Q2 24 | $130.0M | $132.0M |
| Q1 26 | 17.6% | — | ||
| Q4 25 | 17.3% | 18.2% | ||
| Q3 25 | 17.7% | 19.6% | ||
| Q2 25 | 17.1% | 19.1% | ||
| Q1 25 | 17.1% | 20.6% | ||
| Q4 24 | 18.7% | 19.1% | ||
| Q3 24 | 18.1% | 17.6% | ||
| Q2 24 | 17.6% | 23.3% |
| Q1 26 | 4.9% | — | ||
| Q4 25 | 5.4% | 5.1% | ||
| Q3 25 | 4.8% | 6.6% | ||
| Q2 25 | 3.9% | 3.2% | ||
| Q1 25 | 3.1% | 7.2% | ||
| Q4 24 | 5.8% | 5.3% | ||
| Q3 24 | 4.2% | 0.7% | ||
| Q2 24 | 3.0% | 8.2% |
| Q1 26 | 3.0% | — | ||
| Q4 25 | 3.6% | 1.3% | ||
| Q3 25 | 3.6% | 3.1% | ||
| Q2 25 | 2.2% | -0.4% | ||
| Q1 25 | 1.9% | 5.0% | ||
| Q4 24 | 4.8% | 1.9% | ||
| Q3 24 | 2.5% | -2.0% | ||
| Q2 24 | 1.6% | 4.4% |
| Q1 26 | — | — | ||
| Q4 25 | $1.38 | $0.18 | ||
| Q3 25 | $1.21 | $0.47 | ||
| Q2 25 | $0.72 | $-0.05 | ||
| Q1 25 | $0.54 | $0.73 | ||
| Q4 24 | $1.58 | $-0.12 | ||
| Q3 24 | $0.73 | $-0.30 | ||
| Q2 24 | $0.42 | $0.51 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $1.7B | $892.0M |
| Total DebtLower is stronger | $5.1B | $13.4B |
| Stockholders' EquityBook value | $8.9B | $18.3B |
| Total Assets | $30.2B | $45.2B |
| Debt / EquityLower = less leverage | 0.57× | 0.73× |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $1.7B | — | ||
| Q4 25 | $1.9B | $892.0M | ||
| Q3 25 | $1.7B | $851.0M | ||
| Q2 25 | $1.4B | $778.0M | ||
| Q1 25 | $1.4B | $797.0M | ||
| Q4 24 | $1.1B | $855.0M | ||
| Q3 24 | $1.0B | — | ||
| Q2 24 | $928.0M | $26.8K |
| Q1 26 | $5.1B | — | ||
| Q4 25 | — | $13.4B | ||
| Q3 25 | — | $13.3B | ||
| Q2 25 | — | $13.3B | ||
| Q1 25 | — | $12.9B | ||
| Q4 24 | — | $12.5B | ||
| Q3 24 | — | $13.2B | ||
| Q2 24 | — | — |
| Q1 26 | $8.9B | — | ||
| Q4 25 | $8.9B | $18.3B | ||
| Q3 25 | $8.5B | $18.4B | ||
| Q2 25 | $8.3B | $18.3B | ||
| Q1 25 | $8.3B | $17.9B | ||
| Q4 24 | $8.4B | $17.4B | ||
| Q3 24 | $8.7B | $18.0B | ||
| Q2 24 | $8.4B | $14.5K |
| Q1 26 | $30.2B | — | ||
| Q4 25 | $30.9B | $45.2B | ||
| Q3 25 | $28.6B | $45.6B | ||
| Q2 25 | $27.7B | $45.7B | ||
| Q1 25 | $26.4B | $44.6B | ||
| Q4 24 | $24.4B | $43.8B | ||
| Q3 24 | $24.8B | $45.0B | ||
| Q2 24 | $23.5B | $26.8K |
| Q1 26 | 0.57× | — | ||
| Q4 25 | — | 0.73× | ||
| Q3 25 | — | 0.72× | ||
| Q2 25 | — | 0.73× | ||
| Q1 25 | — | 0.72× | ||
| Q4 24 | — | 0.72× | ||
| Q3 24 | — | 0.73× | ||
| Q2 24 | — | — |
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 | $-825.0M | $1.2B |
| Free Cash FlowOCF − Capex | $-605.0M | $612.0M |
| FCF MarginFCF / Revenue | -5.7% | 8.1% |
| Capex IntensityCapex / Revenue | 0.8% | 7.7% |
| Cash ConversionOCF / Net Profit | -2.59× | 12.32× |
| TTM Free Cash FlowTrailing 4 quarters | $1.2B | $1.2B |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $-825.0M | — | ||
| Q4 25 | $1.2B | $1.2B | ||
| Q3 25 | $827.0M | $1.1B | ||
| Q2 25 | $57.0M | $829.0M | ||
| Q1 25 | $-546.0M | $235.0M | ||
| Q4 24 | $1.3B | $781.0M | ||
| Q3 24 | $573.0M | $320.0M | ||
| Q2 24 | $287.0M | $340.0M |
| Q1 26 | $-605.0M | — | ||
| Q4 25 | $1.1B | $612.0M | ||
| Q3 25 | $743.0M | $523.0M | ||
| Q2 25 | $-17.0M | $307.0M | ||
| Q1 25 | $-610.0M | $-242.0M | ||
| Q4 24 | $1.2B | $212.0M | ||
| Q3 24 | $494.0M | $-192.0M | ||
| Q2 24 | $220.0M | $163.0M |
| Q1 26 | -5.7% | — | ||
| Q4 25 | 9.4% | 8.1% | ||
| Q3 25 | 7.4% | 6.5% | ||
| Q2 25 | -0.2% | 3.9% | ||
| Q1 25 | -7.0% | -3.2% | ||
| Q4 24 | 12.2% | 2.8% | ||
| Q3 24 | 5.6% | -2.5% | ||
| Q2 24 | 2.7% | 5.5% |
| Q1 26 | 0.8% | — | ||
| Q4 25 | 1.3% | 7.7% | ||
| Q3 25 | 0.8% | 7.6% | ||
| Q2 25 | 0.8% | 6.6% | ||
| Q1 25 | 0.7% | 6.2% | ||
| Q4 24 | 0.9% | 7.5% | ||
| Q3 24 | 0.9% | 6.7% | ||
| Q2 24 | 0.8% | 6.0% |
| Q1 26 | -2.59× | — | ||
| Q4 25 | 2.94× | 12.32× | ||
| Q3 25 | 2.28× | 4.61× | ||
| Q2 25 | 0.27× | — | ||
| Q1 25 | -3.35× | 0.61× | ||
| Q4 24 | 2.75× | 5.35× | ||
| Q3 24 | 2.55× | — | ||
| Q2 24 | 2.21× | 2.58× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
CBRE
Segment breakdown not available.
SW
| Packaging | $3.3B | 43% |
| Other | $3.2B | 43% |
| Paper | $1.1B | 14% |
