CBRE Group, Inc.

DB:RF6 Stock Report

Market Cap: €38.0b

CBRE Group Valuation

Is RF6 undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

3/6

Valuation Score 3/6

  • Below Fair Value

  • Significantly Below Fair Value

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Analyst Forecast

Share Price vs Fair Value

What is the Fair Price of RF6 when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: RF6 (€126) is trading below our estimate of fair value (€179.91)

Significantly Below Fair Value: RF6 is trading below fair value by more than 20%.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for RF6?

Key metric: As RF6 is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for RF6. This is calculated by dividing RF6's market cap by their current earnings.
What is RF6's PE Ratio?
PE Ratio42.5x
EarningsUS$958.00m
Market CapUS$39.60b

Price to Earnings Ratio vs Peers

How does RF6's PE Ratio compare to its peers?

The above table shows the PE ratio for RF6 vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average79.7x
CSGP CoStar Group
186.5x42.5%US$31.6b
BEKE KE Holdings
40.5x19.9%US$24.0b
JLL Jones Lang LaSalle
26.1x17.7%US$12.3b
SPB Sedlmayr Grund und Immobilien
65.6xn/a€903.2m
RF6 CBRE Group
42.5x20.7%€39.6b

Price-To-Earnings vs Peers: RF6 is good value based on its Price-To-Earnings Ratio (42.5x) compared to the peer average (79.7x).

Price to Earnings Ratio vs Industry

How does RF6's PE Ratio compare vs other companies in the European Real Estate Industry?

23 CompaniesPrice / EarningsEstimated GrowthMarket Cap
RF6 42.5xIndustry Avg. 17.8xNo. of Companies31PE01224364860+
23 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: RF6 is expensive based on its Price-To-Earnings Ratio (42.5x) compared to the European Real Estate industry average (17.8x).

Price to Earnings Ratio vs Fair Ratio

What is RF6's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

RF6 PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio42.5x
Fair PE Ratio29.7x

Price-To-Earnings vs Fair Ratio: RF6 is expensive based on its Price-To-Earnings Ratio (42.5x) compared to the estimated Fair Price-To-Earnings Ratio (29.7x).

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

The above table shows the analyst RF6 forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
Current€126.00
€120.04
-4.7%
10.6%€143.56€101.88n/a10
Nov ’25€120.00
€121.64
+1.4%
10.9%€142.51€101.13n/a10
Oct ’25€111.00
€107.51
-3.1%
8.4%€117.25€88.39n/a10
Sep ’25€103.00
€103.38
+0.4%
10.1%€116.16€84.88n/a10
Aug ’25€103.00
€103.80
+0.8%
9.4%€119.13€87.73n/a10
Jul ’25€82.00
€94.96
+15.8%
8.0%€112.12€82.71n/a9
Jun ’25€79.50
€94.96
+19.5%
8.0%€112.12€82.71n/a9
May ’25€81.50
€96.91
+18.9%
7.4%€111.70€83.77n/a9
Apr ’25€89.00
€91.51
+2.8%
7.7%€101.04€78.07n/a8
Mar ’25€84.50
€88.36
+4.6%
7.6%€96.89€78.44n/a8
Feb ’25€79.50
€86.61
+8.9%
7.0%€96.48€78.11n/a8
Jan ’25€84.00
€82.67
-1.6%
5.4%€88.00€73.18n/a8
Dec ’24€71.50
€79.31
+10.9%
6.8%€87.11€71.52n/a8
Nov ’24€65.00
€83.99
+29.2%
8.2%€92.75€73.82€120.008
Oct ’24€69.00
€87.27
+26.5%
4.8%€93.97€80.81€111.008
Sep ’24€78.00
€85.75
+9.9%
3.9%€91.35€81.30€103.008
Aug ’24€74.00
€84.56
+14.3%
3.7%€91.05€81.03€103.008
Jul ’24€73.00
€80.85
+10.8%
7.0%€92.93€73.61€82.008
Jun ’24€69.00
€82.44
+19.5%
7.0%€93.79€74.29€79.509
May ’24€69.00
€79.56
+15.3%
7.7%€91.66€72.60€81.509
Apr ’24€65.00
€83.38
+28.3%
8.3%€94.96€73.75€89.009
Mar ’24€79.00
€88.15
+11.6%
8.9%€97.63€75.83€84.509
Feb ’24€77.00
€84.32
+9.5%
8.4%€92.91€73.59€79.509
Jan ’24€71.50
€87.29
+22.1%
12.4%€109.17€75.29€84.008
Dec ’23€75.50
€89.65
+18.7%
13.0%€113.81€78.49€71.508
Nov ’23€70.50
€94.09
+33.5%
11.0%€116.42€84.30€65.008

Analyst Forecast: Target price is lower than the current share price.

Discover undervalued companies

Tokyu Fudosan Holdings

JP¥688.6b

Engages in the real estate business in Japan and internationally.

T8F

JP¥5.90

7D

2.6%

1Y

1.7%

Pakuwon Jati

Rp20.6t

Operates as a real estate developer in Indonesia.

P04

Rp0.023

7D

0%

1Y

4.5%

Sino Land

HK$67.0b

An investment holding company, invests in, develops, manages, and trades in properties.

SNO

HK$0.94

7D

-0.5%

1Y

0.5%