Logo

CIGI

Colliers International Group Inc.

CIGI

Colliers International Group Inc. • NASDAQ
$143.99 ▼ -0.12% (-0.18)
Market Cap $7.14 B
52w High $171.51
52w Low $100.86
Dividend Yield 0.30%
P/E 62.6
Volume 76.96K
Outstanding Shares 49.62M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $1.463B ▲ $469.953M ▲ $42.234M ▲ 2.887% ▲ $0.82 ▲ $171.359M ▲
Q2-2025 $1.348B ▲ $450.402M ▲ $4.009M ▲ 0.297% ▲ $0.08 ▲ $166.416M ▲
Q1-2025 $1.141B ▼ $421.076M ▼ $-4.259M ▼ -0.373% ▼ $-0.08 ▼ $99.58M ▼
Q4-2024 $1.502B ▲ $485.619M ▲ $75.117M ▲ 5.002% ▲ $1.49 ▲ $188.552M ▲
Q3-2024 $1.179B $357.278M $37.227M 3.157% $0.75 $169.931M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $212.451M ▲ $6.806B ▲ $4.086B ▲ $1.443B ▲
Q2-2025 $183.343M ▼ $6.461B ▲ $3.917B ▲ $1.385B ▲
Q1-2025 $186.319M ▼ $6.113B ▲ $3.614B ▼ $1.342B ▲
Q4-2024 $224.83M ▲ $6.101B ▼ $3.622B ▼ $1.325B ▲
Q3-2024 $156.984M $6.239B $3.862B $1.255B

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $41.766M ▲ $109.589M ▲ $-219.034M ▼ $131.705M ▲ $22.939M ▲ $92.991M ▲
Q2-2025 $4.075M ▼ $39.523M ▲ $-117.172M ▼ $84.092M ▼ $-6.354M ▼ $22.795M ▲
Q1-2025 $8.918M ▼ $-84.476M ▼ $-9.826M ▲ $119.378M ▲ $23.28M ▲ $-99.13M ▼
Q4-2024 $72.997M ▲ $201.872M ▲ $-64.805M ▲ $-172.201M ▼ $-27.019M ▼ $182.88M ▲
Q3-2024 $37.526M $103.963M $-507.176M $409.476M $4.221M $87.737M

Five-Year Company Overview

Income Statement

Income Statement Revenue has grown steadily over the last five years, more than recovering from the pandemic shock. Gross profit has kept pace, suggesting the core services remain attractive and pricing has held up reasonably well. Operating profit has moved from a small loss a few years ago to healthier levels, showing that scale and cost control are starting to work in Colliers’ favor. Net income, however, has been choppier. There was a notable loss earlier in the period, followed by a strong rebound, then a weaker year, and now a solid recovery again. This pattern points to a business that is structurally sound but still quite sensitive to deal volumes, integration costs from acquisitions, and broader real estate cycles. Overall profitability is improving, but earnings quality is not yet consistently smooth year to year.

Balance Sheet

Balance Sheet The balance sheet shows a company that has grown significantly in size. Total assets have expanded meaningfully, consistent with Colliers’ acquisition‑driven strategy and broader service offering. Equity has built up over time from a relatively low base, suggesting that retained earnings and possibly some capital raises have strengthened the company’s capital position. Debt has also climbed and now sits at a material level relative to cash on hand. Cash balances are modest for a business of this scale, which means Colliers relies heavily on ongoing cash generation and access to credit markets. The picture is of a growth-focused balance sheet: stronger than it was, but with leverage that investors would want to monitor, especially in a cyclical sector like real estate services.

Cash Flow

Cash Flow Colliers consistently generates positive cash from operations, and this has trended upward over the period despite some variability. Free cash flow has generally been positive as well, though one year was essentially break-even, highlighting some sensitivity to working capital and market conditions. Capital spending is relatively modest, which fits a service-heavy, asset-light model. This means most of the cash generated can support acquisitions, debt service, and strategic initiatives rather than being tied up in heavy physical investment. The improving cash profile helps offset concerns about leverage, but the history shows that cash flow can tighten in tougher years, so it is a strength with some cyclical risk attached.

Competitive Edge

Competitive Edge Colliers occupies a strong global niche in real estate services, positioned just below the very largest players but with a broad, international footprint. Its mix of brokerage, property management, engineering, and investment management gives it a diversified revenue base and allows it to serve clients across the full life cycle of a property or portfolio. A key competitive advantage is its high share of recurring revenue from outsourcing and investment management, which softens the impact of slow transaction markets. The company’s active acquisition strategy has expanded its capabilities and geography, reinforcing its network effect. At the same time, Colliers faces intense competition from bigger global rivals and local specialists, and remains exposed to swings in real estate demand, interest rates, and capital markets.

Innovation and R&D

Innovation and R&D Innovation at Colliers is less about traditional R&D spending and more about embedding technology into its services. The firm is leaning heavily into data analytics, artificial intelligence, and proptech partnerships to enhance brokerage, valuations, workplace planning, and property management. Programs like the Proptech Accelerator, AI-powered design tools, and an AI playbook for clients show a clear push to differentiate on digital capabilities. Colliers is also expanding into higher-value, knowledge-intensive areas such as engineering services and investment management, which rely more on expertise and systems than on physical assets. Its emphasis on ESG and sustainability solutions strengthens its appeal to large institutional clients with growing regulatory and reporting demands. The opportunity is to convert these innovations into durable fee streams and pricing power; the risk is execution—integrating new technologies, scaling them globally, and staying ahead of fast-moving competitors.

Summary

Colliers today looks like a scaled, diversified real estate services and investment management platform with improving financial performance and an increasingly modern, tech-enabled offering. On the financial side, revenue and operating profit have trended upward, with clear progress since the pandemic, but net income remains somewhat volatile, reflecting the cyclical and deal-driven nature of its markets. The balance sheet shows substantial growth and a stronger equity base, offset by meaningful debt that depends on steady cash generation. Cash flows are positive and generally improving, in line with an asset-light, service-centric model. Strategically, Colliers’ mix of recurring services, global reach, and disciplined acquisitions provides a solid competitive footing, while its focus on AI, data, engineering, and investment management aims to move it further up the value chain. The main opportunities lie in scaling these higher-margin, recurring businesses and capitalizing on structural trends like infrastructure investment, logistics, and data centers. Key risks include leverage, real estate market cycles, integration of acquisitions, and the challenge of turning ambitious growth and technology plans into consistently stable earnings.

NEWS

November 18, 2025 · 8:00 PM UTC

Global capital is on the move as investors redraw the real estate map

Read more

November 3, 2025 · 5:00 PM UTC

Colliers adds top-tier Australian engineering firm

Read more

October 8, 2025 · 3:20 PM UTC

Colliers to announce third quarter results on November 4, 2025

Read more

September 10, 2025 · 4:01 PM UTC

Colliers bolsters engineering offering in Canada

Read more

September 9, 2025 · 7:30 AM UTC

Colliers elevates U.S. multifamily presence

Read more