CBRE Group Inc (CBRE) is slightly overvalued and IHS Holding Ltd (IHS) is undervalued.
Against our estimates of intrinsic value, IHS trades at the wider discount: a margin of safety of +79%, against -17% for CBRE.
Values as of the 19 Oct 2026 close.
Discounting its cash flows at 9.9% (average of 3 methods) values the shares at $111.85; the price of $130.77 is 17% above that value, and 73% of that value comes from beyond year five.
Leak Score 40/100 on 12 of 12 signals
Discounting its cash flows at 7.4% (average of 3 methods) values the shares at $40.18; the price of $8.43 is 79% below that value, and 82% of that value comes from beyond year five.
Leak Score 88/100 on 9 of 12 signals
| Metric | CBRE | IHS |
|---|---|---|
| Verdict | Slightly overvalued | Undervalued |
| Price | $130.77 | $8.43 |
| Intrinsic value | $111.85 | $40.18 |
| Margin of safety | -17% | +79% |
| Leak Score | 40/100 (12/12) | 88/100 (9/12) |
| Market cap | $37.9B | $2.9B |
| Revenue growth, 5 years | 11.2% | 2.4% |
| Operating margin | 2.8% | 33.4% |
| Net margin | 3.0% | 9.2% |
| Return on equity | 15.6% | — |
| Debt to equity | 1.29 | — |
| P/E | 30.0x | 20.1x |
| Forward P/E | 14.6x | 10.0x |
| P/B | 4.5x | — |
| Dividend yield | — | 2.1% |