CBRE Group, Inc. (CBRE)
CBRE Group is a commercial real-estate services firm providing brokerage, leasing, and property management.
Real Estate stock comparison
CBRE vs SPG: which business are you actually underwriting?
Compare CBRE Group, Inc. with Simon Property Group, Inc. using their business models, SEC classifications, fiscal calendars, current primary filings, and the research questions that matter. This is a thesis framework—not a price target or automatic winner.
- Sector
- Real
- Industry
- Different SIC
- Shared themes
- 2
- Updated
- 2026-02-25
CBRE vs SPG: quick comparison
| Company fact | CBRE | SPG |
|---|---|---|
| Company | CBRE Group, Inc. | Simon Property Group, Inc. |
| Exchange | NYSE | NYSE |
| Headquarters | — | Indianapolis, Indiana |
| Founded | — | 1993 |
| SEC industry | Real Estate | Real Estate Investment Trusts |
| Fiscal year-end | December 31 | December 31 |
| Latest annual filing | 10-K · 2026-02-12 | 10-K · 2026-02-25 |
CBRE vs SPG: audited financials
CBRE reported about 6.4× the revenue of SPG in the latest audited fiscal year. Scale and margin are starting facts for the thesis, not the verdict.
| Metric | CBRE | SPG |
|---|---|---|
| Revenue | $40.5B | $6.4B |
| Net income | $1.2B | — |
| Operating cash flow | $1.6B | $4.1B |
| Diluted EPS | $3.85 | $14.17 |
| Net margin | 2.9% | — |
CBRE: FY ending 2025-12-31 · SPG: FY ending 2025-12-31. Figures as tagged in each issuer's SEC XBRL filing; fiscal calendars may not align.
How the businesses differ
Why this pair belongs in the comparison set
CBRE and SPG have different SEC industry classifications, but both map to the maintained Rates & central banks and Economic trends research themes inside the Real Estate sector. A shared classification or theme makes the pair useful for a defined research question; it does not mean the companies have identical products, economics, or risks.
Simon Property Group, Inc. (SPG)
Simon Property Group is the largest US owner of shopping malls and premium outlet centers. It has focused its portfolio on top-tier properties and mixed-use redevelopment to counter pressure on traditional retail.
The useful starting point is not which ticker has performed better. It is whether the two companies convert the same economic forces into revenue and cash flow in the same way. CBRE is classified by the SEC as Real Estate, while SPG is classified as Real Estate Investment Trusts. The different industry codes are a warning against treating sector membership as proof of identical economics.
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The thesis, the numbers behind it, and what would break it. Full access is $15 a month.
Read the full researchWhich thesis does each company fit?
Use the distinction below to decide which filing deserves deeper work. It is a research routing rule, not a recommendation or prediction.
Study CBRE when…
- Long-term interest rates and cap rates
- Occupancy and rent growth by property type
- Data-center demand from AI workloads
- Refinancing walls and commercial credit
Study SPG when…
- Long-term interest rates and cap rates
- Occupancy and rent growth by property type
- Data-center demand from AI workloads
- Refinancing walls and commercial credit
Shared research themes
Rates & central banksEconomic trends
SEC filing comparison and disclosure evidence
Start with primary filings because fiscal calendars and accounting presentation can make superficially similar quarters incomparable.CBRE's fiscal year ends December 31, while SPG's ends December 31. Normalize the reporting periods before comparing growth, margins, capital intensity, or guidance.
The current verified House and Senate snapshot contains 0matched transaction rows for CBREand 7 for SPG. These delayed, range-based disclosures can identify a filing to inspect; they do not establish motive, conviction, or a real-time trading signal.
CBRE primary filings
SPG primary filings
What this comparison cannot tell you
This page does not contain licensed live prices, a valuation model, earnings estimates, portfolio constraints, or a forecast of future returns. SEC classifications can be broad, company descriptions can lag strategic change, and the latest annual filing may predate a material acquisition or divestiture. Read subsequent quarterly and current reports before making a decision.
A stronger business is not automatically the better stock. Starting valuation, expectations, capital structure, cyclicality, dilution, and the probability of each thesis determine the investment outcome. Use this comparison to frame the work, then verify the numbers in the linked filings and current company disclosures.
More comparisons involving CBRE or SPG
CBRE vs SPG FAQs
Are CBRE and SPG direct competitors?
CBRE Group, Inc. and Simon Property Group, Inc. sit in the same Real Estate sector but have different SEC industry classifications. The comparison is most useful for portfolio role and sector exposure, not as a claim that every product competes directly.
Which is better, CBRE or SPG?
There is no context-free winner. Compare the operating exposures, filing evidence, valuation, balance sheet, and risks against the specific thesis you are testing. This page deliberately does not turn a static profile into a buy or sell recommendation.
Does this CBRE vs SPG comparison include live prices?
No. Yield Theory does not republish unlicensed real-time market data. The financial figures on this page are the audited annual numbers CBRE Group, Inc. and Simon Property Group, Inc. tagged in their SEC XBRL filings. Use a regulated broker or licensed quote provider for current prices and valuation multiples.
Where does the company information come from?
Company classifications, fiscal year-ends, and filing links come from the SEC EDGAR submissions API snapshot refreshed 2026-09-25. Business summaries and research themes are maintained by Yield Theory.
Data snapshot: SEC EDGAR submissions API, refreshed 2026-09-25. Independent educational research; not investment advice.
A comparison is the setup. The thesis is the call.
CBRE vs SPG shows how the businesses differ. Membership is the monthly sourced view of who could benefit, what could break, and what evidence matters next. $15/month or $150/year.
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