Real estate services
16 companies · $178B combined revenue · $5.2B operating profit
The typical US-listed real estate services company grew revenue 11.4% and earnings 19.5% in its latest year, at a 6.7% operating margin, and 0 of 9 earn a return on capital above 15%. Figures from each company's latest annual filing with the SEC, refreshed daily.
Growth engines: the 4 Cylinders
All four working: 0% of companiesA company's earnings per share can grow in only four ways: more sales, profits growing faster than sales (operating leverage), wider margins, and less debt. Each bar is the share of companies where that engine worked in their latest year.
- Sales growth · Revenue up 10% or more53%
- Operating leverage · Operating income growing faster than a growing revenue57%
- Margin expansion · Operating margin up 1 point or more36%
- Debt reduction · Debt down 5% or more, or net cash40%
Combined revenue · 15 companies reporting in US dollars
Combined operating margin
All 16 companies
| Median | – | 11.4% | 19.5% | 6.7% | 7.5% | 0.46x |
| BNBrookfield | $75.1B | -12.7%▼ | 74.6%▲ | – | – | 0.08x▲ |
| CBRECBRE | $39.9B | 13.4%▲ | 19.5% | 4.4%▼ | 9.4%▲ | 0.58x▼ |
| BEKEKE | CNY 94.6B | 1.2%▼ | -26.3%▼ | 2.2%▼ | 2.8%▼ | 0.00x▲ |
| INVHInvitation Homes | $2.7B | 4.2%▼ | 29.5%▲ | 14.2%▲ | – | 0.88x▼ |
| JLLJones Lang Lasalle | $26.1B | 11.4% | 44.9%▲ | 4.2%▼ | 10.5%▲ | 0.11x▲ |
| CSGPCostar | $3.2B | 18.7%▲ | -95%▼ | -2.2%▼ | -0.7%▼ | 0.12x▲ |
| TRNOTerreno Realty | $476M | 24.5%▲ | 118%▲ | 40.3%▲ | – | 0.23x▲ |
| FSVFirstService | $5.5B | 5.4%▼ | 1.6%▼ | 6.1%▼ | 9.9%▲ | 0.78x▼ |
| CIGIColliers International | $5.6B | 15.3%▲ | -5.2%▼ | 6.7% | 7.2%▼ | 1.07x▼ |
| VACMarriott Vacations Worldwide | $4.7B | 1%▼ | -241%▼ | -11.5%▼ | – | 1.77x▼ |
| MRPMillrose Properties | $600M | – | – | 80.9%▲ | – | 0.36x▲ |
| VTMXVesta Real Estate Corporation, S.A.B. de C.V. | $283M | 12.2%▲ | 8.3%▼ | 101%▲ | 6.4%▼ | 0.48x▼ |
| CURBCurbline Properties | $183M | 51.3%▲ | 288%▲ | 28.6%▲ | – | 0.22x▲ |
| NMRKNewmark | $2.8B | 21.9%▲ | 47.6%▲ | 8.4%▲ | 7.5% | 0.46x |
| UEUrban Edge Properties | $472M | 6.1%▼ | 28.9%▲ | 36.7%▲ | – | – |
| CWKCushman & Wakefield | $10.3B | 8.9%▼ | -32.8%▼ | 4.4%▼ | 8.9%▲ | 1.40x▼ |
▲ better than the median, ▼ worse. n/a: the ratio doesn't apply to that kind of business (e.g. a bank's operating margin). Sort by any column. Figures from each company's latest 10-K (or 20-F/40-F).