Colliers International Group

CIGI

Real Estate - Services · Real Estate

Also trades as: CIGI.TO

Price

$107.06

+0.36 (+0.34%)

Market Cap

$5.33B

Exchange

NASDAQ

Winston Score

Winston is serious

Mixed quality — meaningful strengths and weaknesses.

Data as of Aug 23, 2026 · filings through Jun 30, 2026

How the score breaks down

Quality

Mixed

Growth

Mixed

Cash Flow

Strong

Stability

Good

Valuation

Good

Dividends

Weak

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Share count falling — buybacks

−13.3% over 4y

The company has reduced its share count over this period, returning value to shareholders through buybacks.

Diluted shares outstanding: 42.9M (2021) → 37.2M (2025)

Winston Score History

The full picture

Colliers International Group is a global commercial real estate services company. It helps businesses and investors buy, sell, lease, and manage commercial properties like office buildings, warehouses, and shopping centers. It also offers investment management services, where it oversees real estate assets on behalf of large institutional clients like pension funds.

Colliers earns money through fees and commissions tied to real estate transactions, property management contracts, and investment management services. It operates in over 60 countries, making it one of the largest commercial real estate firms in the world, competing directly with CBRE and JLL. The investment management segment is a key growth focus because it generates more recurring, predictable revenue compared to transaction-based brokerage fees — but the business is sensitive to interest rate cycles, and a prolonged high-rate environment can slow deal activity and weigh on earnings.

Growth Profile

For growth stock investors

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

+11.8% YoY

YoY Growth Rate

Steady revenue growth

EPS Growth

+596.5% YoY

YoY Growth Rate

EPS growth accelerating

R&D Spend

$0/ year

0.0% of revenue

Below sector average (1%)

Research and development spending

Insider Activity

12.4%ownership

→ Flat

Insider ownership roughly steady over the past year

Cash Position

Cash flow positive

$319M cash & investments

Quarterly Free Cash Flow

↓ Burn rate worsening

Company generates more cash than it spends — no dilution risk from fundraising

Growth + cash flow

Colliers International Group is a rare growth stock that's already generating positive cash flow while growing at 12%. The Winston Score doesn't fully credit this transition from "burner" to "earner."

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Score breakdown

Every number that matters to educated investors.

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Quality

Profit per sale

Gross Margin

31.3%

Modest — 31.3% gross margin

Profit after running costs

Operating Margin

8.1%

Modest — 8.1% operating margin

Return on the money invested

ROCE

10.4%

Below par — 10.4% return on capital

ROIC between 5% and 15%. They earn 5 to 15 cents back per year on every dollar invested.

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Growth

Sales growth

Sales YoY

+15.2%

Fast-growing sales (+15.2% YoY)

Profit growth

EPS YoY

-3.6%

Earnings shrinking (-3.6% YoY)

Slight earnings drop. Typical near a cyclical low.

How steady the profit is

EPS Consistency

4/8 quarters

Earnings inconsistent quarter-to-quarter

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Cash Flow

Profit that turns into cash

Cash Conversion

273%

Turns 273% of profit into real cash

Spare cash per sale

FCF Margin

3.3%

Thin free cash flow (3.3%)

FCF margin between 0% and 10%. Some cash from sales, but not a lot.

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Stability

What it owes vs what it owns

Debt / Equity

1.81

Elevated debt (1.81)

Covers its interest

Interest Cover

4.78x

Adequate interest coverage (4.8x)

Interest coverage between 3 and 8. Profits cover interest several times over.

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Valuation

Price vs profit

P/E Ratio (TTM)

49.6x

Expensive — P/E 49.6

P/E over 35. The market is pricing in heavy, sustained growth.

Cheaper or dearer next year

P/E vs Forward

+32.0

GROWING

Earnings expected to grow meaningfully — cheaper on forward P/E (49.6 → 17.5)

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Dividends

Dividend

Dividend Yield

0.28%

Small dividend — 0.28% yield

Modest yield. The bulk of any return needs to come from price appreciation.

Dividend record

Dividend Growth

+0.0%

Dividend flat

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