CBRE Group Inc (CBRE) is overvalued and Jones Lang Lasalle Inc (JLL) is slightly undervalued.
Against our estimates of intrinsic value, JLL trades at the wider discount: a margin of safety of +11%, against -25% for CBRE.
Values as of the 22 Sept 2026 close.
Discounting its cash flows at 9.9% (average of 3 methods) values the shares at $112.47; the price of $141.05 is 25% above that value, and 73% of that value comes from beyond year five.
Leak Score 44/100 on 10 of 12 signals
Discounting its cash flows at 9.9% (average of 3 methods) values the shares at $377.66; the price of $335.36 is 11% below that value, and 73% of that value comes from beyond year five.
Leak Score 65/100 on 3 of 12 signals
| Metric | CBRE | JLL |
|---|---|---|
| Verdict | Overvalued | Slightly undervalued |
| Price | $141.05 | $335.36 |
| Intrinsic value | $112.47 | $377.66 |
| Margin of safety | -25% | +11% |
| Leak Score | 44/100 (10/12) | 65/100 (3/12) |
| Market cap | $40.8B | $15.4B |
| Revenue growth, 5 years | 11.2% | 9.5% |
| Operating margin | 2.8% | 4.9% |
| Net margin | 3.0% | 3.6% |
| Return on equity | 15.6% | 13.8% |
| Debt to equity | 1.29 | 0.46 |
| P/E | 32.3x | 16.1x |
| Forward P/E | 15.7x | 11.9x |
| P/B | 4.9x | 2.1x |