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Side-by-side financial comparison of CBRE Group (CBRE) and United Parcel Service (UPS). Click either name above to swap in a different company.
United Parcel Service is the larger business by last-quarter revenue ($21.2B vs $11.5B, roughly 1.9× CBRE Group). United Parcel Service runs the higher net margin — 4.1% vs 3.6%, a 0.4% gap on every dollar of revenue. On growth, CBRE Group posted the faster year-over-year revenue change (12.3% vs -1.6%). United Parcel Service produced more free cash flow last quarter ($1.3B vs $1.1B). Over the past eight quarters, CBRE Group's revenue compounded faster (21.1% CAGR vs -1.4%).
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
United Parcel Service, Inc. (UPS) is an American multinational shipping & receiving and supply chain management company founded in 1907. Originally known as the American Messenger Company specializing in telegraphs, UPS has expanded to become a Fortune 500 company and one of the world's largest shipping couriers. UPS today is primarily known for its ground shipping services as well as the UPS Store, a retail chain which assists UPS shipments and provides tools for small businesses.
CBRE vs UPS — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $11.5B | $21.2B |
| Net Profit | $416.0M | $864.0M |
| Gross Margin | 17.3% | — |
| Operating Margin | 5.4% | — |
| Net Margin | 3.6% | 4.1% |
| Revenue YoY | 12.3% | -1.6% |
| Net Profit YoY | -14.6% | -27.2% |
| EPS (diluted) | $1.38 | $1.02 |
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 | — | $21.2B | ||
| Q4 25 | $11.5B | $24.5B | ||
| Q3 25 | $10.1B | $21.4B | ||
| Q2 25 | $9.6B | $21.2B | ||
| Q1 25 | $8.8B | $21.5B | ||
| Q4 24 | $10.2B | $25.3B | ||
| Q3 24 | $8.8B | $22.2B | ||
| Q2 24 | $8.2B | $21.8B |
| Q1 26 | — | $864.0M | ||
| Q4 25 | $416.0M | $1.8B | ||
| Q3 25 | $363.0M | $1.3B | ||
| Q2 25 | $215.0M | $1.3B | ||
| Q1 25 | $163.0M | $1.2B | ||
| Q4 24 | $487.0M | $1.7B | ||
| Q3 24 | $225.0M | $1.5B | ||
| Q2 24 | $130.0M | $1.4B |
| Q1 26 | — | — | ||
| 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 26 | — | — | ||
| Q4 25 | 5.4% | 10.5% | ||
| Q3 25 | 4.8% | 8.4% | ||
| Q2 25 | 3.9% | 8.6% | ||
| Q1 25 | 3.1% | 7.7% | ||
| Q4 24 | 5.8% | 11.6% | ||
| Q3 24 | 4.2% | 8.9% | ||
| Q2 24 | 3.0% | 8.9% |
| Q1 26 | — | 4.1% | ||
| Q4 25 | 3.6% | 7.3% | ||
| Q3 25 | 3.6% | 6.1% | ||
| Q2 25 | 2.2% | 6.0% | ||
| Q1 25 | 1.9% | 5.5% | ||
| Q4 24 | 4.8% | 6.8% | ||
| Q3 24 | 2.5% | 6.9% | ||
| Q2 24 | 1.6% | 6.5% |
| Q1 26 | — | $1.02 | ||
| Q4 25 | $1.38 | $2.10 | ||
| Q3 25 | $1.21 | $1.55 | ||
| Q2 25 | $0.72 | $1.51 | ||
| Q1 25 | $0.54 | $1.40 | ||
| Q4 24 | $1.58 | $2.00 | ||
| Q3 24 | $0.73 | $1.80 | ||
| Q2 24 | $0.42 | $1.65 |
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 | $5.8B |
| Total DebtLower is stronger | — | $23.7B |
| Stockholders' EquityBook value | $8.9B | — |
| Total Assets | $30.9B | $71.8B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $5.8B | ||
| Q4 25 | $1.9B | $5.9B | ||
| Q3 25 | $1.7B | $6.8B | ||
| Q2 25 | $1.4B | $6.3B | ||
| Q1 25 | $1.4B | $5.1B | ||
| Q4 24 | $1.1B | $6.3B | ||
| Q3 24 | $1.0B | $6.1B | ||
| Q2 24 | $928.0M | $6.5B |
| Q1 26 | — | $23.7B | ||
| Q4 25 | — | $23.5B | ||
| Q3 25 | — | $23.9B | ||
| Q2 25 | — | $23.8B | ||
| Q1 25 | — | $19.5B | ||
| Q4 24 | — | $19.4B | ||
| Q3 24 | — | $20.3B | ||
| Q2 24 | — | $20.2B |
| Q1 26 | — | — | ||
| Q4 25 | $8.9B | $16.2B | ||
| Q3 25 | $8.5B | $15.8B | ||
| Q2 25 | $8.3B | $15.8B | ||
| Q1 25 | $8.3B | $15.7B | ||
| Q4 24 | $8.4B | $16.7B | ||
| Q3 24 | $8.7B | $16.9B | ||
| Q2 24 | $8.4B | $17.0B |
| Q1 26 | — | $71.8B | ||
| Q4 25 | $30.9B | $73.1B | ||
| Q3 25 | $28.6B | $71.4B | ||
| Q2 25 | $27.7B | $70.9B | ||
| Q1 25 | $26.4B | $68.5B | ||
| Q4 24 | $24.4B | $70.1B | ||
| Q3 24 | $24.8B | $68.3B | ||
| Q2 24 | $23.5B | $69.4B |
| Q1 26 | — | — | ||
| Q4 25 | — | 1.45× | ||
| Q3 25 | — | 1.51× | ||
| Q2 25 | — | 1.51× | ||
| Q1 25 | — | 1.25× | ||
| Q4 24 | — | 1.16× | ||
| Q3 24 | — | 1.21× | ||
| Q2 24 | — | 1.19× |
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 | — |
| Free Cash FlowOCF − Capex | $1.1B | $1.3B |
| FCF MarginFCF / Revenue | 9.4% | 6.0% |
| Capex IntensityCapex / Revenue | 1.3% | 4.9% |
| Cash ConversionOCF / Net Profit | 2.94× | — |
| TTM Free Cash FlowTrailing 4 quarters | $1.2B | $4.6B |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $1.2B | $3.3B | ||
| Q3 25 | $827.0M | $2.5B | ||
| Q2 25 | $57.0M | $348.0M | ||
| Q1 25 | $-546.0M | $2.3B | ||
| Q4 24 | $1.3B | $3.3B | ||
| Q3 24 | $573.0M | $1.5B | ||
| Q2 24 | $287.0M | $2.0B |
| Q1 26 | — | $1.3B | ||
| Q4 25 | $1.1B | $2.6B | ||
| Q3 25 | $743.0M | $1.5B | ||
| Q2 25 | $-17.0M | $-775.0M | ||
| Q1 25 | $-610.0M | $1.4B | ||
| Q4 24 | $1.2B | $2.2B | ||
| Q3 24 | $494.0M | $655.0M | ||
| Q2 24 | $220.0M | $1.1B |
| Q1 26 | — | 6.0% | ||
| Q4 25 | 9.4% | 10.6% | ||
| Q3 25 | 7.4% | 7.1% | ||
| Q2 25 | -0.2% | -3.7% | ||
| Q1 25 | -7.0% | 6.7% | ||
| Q4 24 | 12.2% | 8.8% | ||
| Q3 24 | 5.6% | 2.9% | ||
| Q2 24 | 2.7% | 4.9% |
| Q1 26 | — | 4.9% | ||
| Q4 25 | 1.3% | 2.9% | ||
| Q3 25 | 0.8% | 4.5% | ||
| Q2 25 | 0.8% | 5.3% | ||
| Q1 25 | 0.7% | 4.1% | ||
| Q4 24 | 0.9% | 4.3% | ||
| Q3 24 | 0.9% | 3.8% | ||
| Q2 24 | 0.8% | 4.3% |
| Q1 26 | — | — | ||
| Q4 25 | 2.94× | 1.84× | ||
| Q3 25 | 2.28× | 1.89× | ||
| Q2 25 | 0.27× | 0.27× | ||
| Q1 25 | -3.35× | 1.95× | ||
| Q4 24 | 2.75× | 1.93× | ||
| Q3 24 | 2.55× | 0.97× | ||
| Q2 24 | 2.21× | 1.41× |
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% |
UPS
| U.S. Domestic Package | $14.1B | 67% |
| International Package | $4.5B | 21% |
| Supply Chain Solutions | $2.5B | 12% |
