Colliers International Group Inc.
Financial Statements (IFRS) · Amounts in CAD
Income Statement
Balance Sheet
Cash Flow
| Line Item | FY 2025Dec 31, 2025 | FY 2024Dec 31, 2024 | FY 2023Dec 31, 2023 | FY 2022Dec 31, 2022 | FY 2021Dec 31, 2021 |
|---|---|---|---|---|---|
| Total Revenue | 5.6B | 4.8B | 4.3B | 4.5B | 4.1B |
| Operating Revenue | 5.4B | 4.7B | 4.2B | 4.5B | 4.0B |
| Cost Of Revenue | 3.3B | 2.9B | 2.6B | 2.7B | 2.5B |
| Gross Profit | 2.2B | 1.9B | 1.7B | 1.7B | 1.6B |
| Selling General And Administration | 1.6B | 1.3B | 1.2B | 1.1B | 1.0B |
| General And Administrative Expense | -- | -- | -- | 1.1B | 1.0B |
| Depreciation And Amortization In Income Statement | 256.0M | 221.6M | 202.5M | 177.4M | 145.1M |
| Operating Expense | 1.8B | 1.6B | 1.4B | 1.3B | 1.2B |
| Operating Income | 401.5M | 361.4M | 350.3M | 436.5M | 401.4M |
| EBIT | 387.1M | 396.9M | 306.9M | 338.1M | -120.2M |
| Interest Expense | 82.4M | 85.8M | 94.1M | 48.6M | 31.8M |
| Interest Expense Non Operating | 82.4M | 85.8M | 94.1M | 48.6M | 31.8M |
| Net Interest Income | -82.4M | -85.8M | -94.1M | -48.6M | -31.8M |
| Other Income Expense | -14.4M | 35.5M | -43.5M | -98.3M | -521.7M |
| Other Non Operating Income Expenses | 3.7M | 410,000 | 841,000 | -1.0M | 5.1M |
| Special Income Charges | -30.6M | 27.8M | -49.4M | -104.0M | -532.9M |
| Restructuring And Mergern Acquisition | 29.9M | -27.8M | 47.1M | 77.1M | 61.0M |
| Earnings From Equity Interest | 12.5M | 7.3M | 5.1M | 6.7M | 6.2M |
| Pretax Income | 304.7M | 311.1M | 212.8M | 289.6M | -152.0M |
| Tax Provision | 80.2M | 74.2M | 68.1M | 95.0M | 85.5M |
| Tax Effect Of Unusual Items | -8.0M | 6.6M | -15.8M | -34.1M | -141.2M |
| Net Income From Continuing And Discontinued Operation | 103.1M | 161.7M | 65.5M | 46.3M | -390.3M |
| Net Income From Continuing Operation Net Minority Interest | 103.1M | 161.7M | 65.5M | 46.3M | -390.3M |
| Net Income Including Noncontrolling Interests | 224.6M | 236.9M | 144.7M | 194.5M | -237.6M |
| Minority Interests | -121.5M | -75.2M | -79.1M | -148.3M | -152.8M |
| Net Income Common Stockholders | 103.1M | 161.7M | 65.5M | 46.3M | -390.3M |
| Net Income | 103.1M | 161.7M | 65.5M | 46.3M | -390.3M |
| EBITDA | 643.1M | 618.5M | 509.4M | 515.6M | 24.9M |
| Normalized EBITDA | 673.7M | 590.7M | 558.8M | 619.5M | 557.8M |
| Reconciled Depreciation | 256.0M | 221.6M | 202.5M | 177.4M | 145.1M |
| Basic EPS | 2.03 | 3.24 | 1.43 | 1.07 | -- |
| Diluted EPS | 2.02 | 3.22 | 1.41 | 1.05 | -- |
| Basic Average Shares | 50.8M | 49.9M | 45.7M | 43.4M | -- |
| Diluted Average Shares | 51.1M | 50.2M | 46.3M | 43.9M | -- |
| Total Unusual Items | -30.6M | 27.8M | -49.4M | -104.0M | -532.9M |
| Total Unusual Items Excluding Goodwill | -30.6M | 27.8M | -49.4M | -104.0M | -532.9M |
| Tax Rate For Calcs | 0.26 | 0.24 | 0.32 | 0.33 | 0.27 |
| Normalized Income | 125.6M | 140.5M | 99.1M | 116.1M | 1.4M |
| Amortization | 178.7M | 155.4M | 147.9M | 128.7M | 99.2M |
| Amortization Of Intangibles Income Statement | 178.7M | 155.4M | 147.9M | 128.7M | 99.2M |
| Average Dilution Earnings | -- | 0.00 | -119,000 | 0.00 | -- |
| Depreciation Amortization Depletion Income Statement | 256.0M | 221.6M | 202.5M | 177.4M | 145.1M |
| Depreciation Income Statement | 77.4M | 66.2M | 54.6M | 48.7M | 45.9M |
| Diluted NI Availto Com Stockholders | 103.1M | 161.7M | 65.4M | 46.3M | -390.3M |
| Gain On Sale Of Business | -696,000 | 0.00 | -2.3M | -26.8M | 0.00 |
| Net Income Continuous Operations | 224.6M | 236.9M | 144.7M | 194.5M | -237.6M |
| Net Non Operating Interest Income Expense | -82.4M | -85.8M | -94.1M | -48.6M | -31.8M |
| Other Gand A | -- | -- | -- | 1.1B | 1.0B |
| Other Special Charges | -- | -- | -- | -- | 471.9M |
| Reconciled Cost Of Revenue | 3.3B | 2.9B | 2.6B | 2.7B | 2.5B |
| Total Expenses | 5.2B | 4.5B | 4.0B | 4.0B | 3.7B |
| Total Operating Income As Reported | 371.0M | 389.2M | 300.9M | 332.5M | -131.5M |
| Line Item | FY 2025Dec 31, 2025 | FY 2024Dec 31, 2024 | FY 2023Dec 31, 2023 | FY 2022Dec 31, 2022 | FY 2021Dec 31, 2021 |
|---|---|---|---|---|---|
| Cash And Cash Equivalents | 207.9M | 176.3M | 181.1M | 173.7M | 396.7M |
| Cash Cash Equivalents And Short Term Investments | 262.8M | 224.8M | 204.7M | 201.5M | 419.0M |
| Other Short Term Investments | 54.9M | 48.6M | 23.5M | 27.9M | 22.2M |
| Accounts Receivable | 829.3M | 735.5M | 643.4M | 577.9M | 502.4M |
| Receivables | 1.2B | 998.3M | 987.9M | 745.4M | 784.8M |
| Prepaid Assets | 110.8M | 90.5M | 73.6M | 61.3M | 44.2M |
| Other Current Assets | 57.4M | 112.7M | 48.2M | 687,000 | 771,000 |
| Current Assets | 1.8B | 1.6B | 1.5B | 1.2B | 1.6B |
| Gross PPE | 1.1B | 980.6M | 922.5M | 787.0M | 725.3M |
| Accumulated Depreciation | -415.6M | -354.8M | -329.0M | -280.9M | -264.1M |
| Net PPE | 694.9M | 625.8M | 593.4M | 506.1M | 461.3M |
| Goodwill | 2.6B | 2.3B | 2.0B | 2.0B | 1.1B |
| Goodwill And Other Intangible Assets | 3.9B | 3.5B | 3.1B | 3.1B | 1.7B |
| Other Intangible Assets | 1.2B | 1.2B | 1.1B | 1.2B | 561.8M |
| Investments And Advances | 74.3M | 62.2M | 48.2M | 52.6M | 42.2M |
| Long Term Equity Investment | 67.3M | 54.3M | 33.9M | 28.2M | 22.5M |
| Other Non Current Assets | 78.7M | 99.8M | 54.6M | 8.0M | 7.4M |
| Total Non Current Assets | 5.0B | 4.5B | 4.0B | 3.9B | 2.3B |
| Total Assets | 6.8B | 6.1B | 5.5B | 5.1B | 3.9B |
| Current Debt | 141.4M | 78.7M | 170.6M | 25.6M | 164.4M |
| Current Debt And Capital Lease Obligation | 241.1M | 171.7M | 260.5M | 110.6M | 245.3M |
| Accounts Payable | 510.6M | 494.6M | 535.8M | 503.2M | 391.2M |
| Payables | 530.4M | 509.9M | 552.3M | 535.5M | 426.6M |
| Payables And Accrued Expenses | 530.4M | 509.9M | 552.3M | 535.5M | 426.6M |
| Current Deferred Revenue | 80.3M | 63.5M | 45.3M | 25.6M | 30.4M |
| Other Current Liabilities | 46.5M | 117.0M | 13.9M | 44.3M | 143.3M |
| Current Liabilities | 1.7B | 1.5B | 1.4B | 1.3B | 1.5B |
| Long Term Debt | 1.6B | 1.5B | 1.5B | 1.7B | 754.8M |
| Long Term Debt And Capital Lease Obligation | 2.0B | 1.9B | 1.9B | 2.0B | 1.1B |
| Long Term Capital Lease Obligation | 419.2M | 383.9M | 375.5M | 322.5M | 296.6M |
| Other Non Current Liabilities | 178.6M | 149.6M | 198.9M | 139.4M | 120.5M |
| Total Non Current Liabilities Net Minority Interest | 2.3B | 2.1B | 2.1B | 2.2B | 1.2B |
| Total Liabilities Net Minority Interest | 4.0B | 3.6B | 3.6B | 3.5B | 2.8B |
| Common Stock | 1.5B | 1.5B | 1.1B | 845.7M | 852.2M |
| Capital Stock | 1.5B | 1.5B | 1.1B | 845.7M | 852.2M |
| Additional Paid In Capital | 173.7M | 140.5M | 123.4M | 104.5M | 79.4M |
| Retained Earnings | -98.5M | -186.3M | -332.9M | -384.2M | -279.7M |
| Gains Losses Not Affecting Retained Earnings | -73.5M | -101.5M | -69.6M | -76.3M | -70.3M |
| Other Equity Adjustments | -73.5M | -101.5M | -69.6M | -76.3M | -70.3M |
| Common Stock Equity | 1.5B | 1.3B | 848.0M | 489.7M | 581.6M |
| Stockholders Equity | 1.5B | 1.3B | 848.0M | 489.7M | 581.6M |
| Total Equity Gross Minority Interest | 2.8B | 2.5B | 1.9B | 1.6B | 1.1B |
| Minority Interest | 1.3B | 1.2B | 1.1B | 1.1B | 540.6M |
| Total Capitalization | 3.2B | 2.8B | 2.3B | 2.2B | 1.3B |
| Net Tangible Assets | -2.3B | -2.2B | -2.3B | -2.7B | -1.1B |
| Tangible Book Value | -2.3B | -2.2B | -2.3B | -2.7B | -1.1B |
| Working Capital | 167.0M | 91.3M | 33.1M | -128.2M | 33.8M |
| Invested Capital | 3.3B | 2.9B | 2.5B | 2.2B | 1.5B |
| Total Debt | 2.3B | 2.1B | 2.1B | 2.1B | 1.3B |
| Net Debt | 1.6B | 1.4B | 1.5B | 1.5B | 522.4M |
| Share Issued | 51.1M | 50.6M | 47.5M | 42.9M | 44.1M |
| Ordinary Shares Number | 51.1M | 50.6M | 47.5M | 42.9M | 44.1M |
| Allowance For Doubtful Accounts Receivable | -40.9M | -34.9M | -36.4M | -25.3M | -22.4M |
| Assets Held For Sale Current | -- | 110.8M | 44.5M | 45.4M | 44.1M |
| Available For Sale Securities | 7.1M | 7.9M | 8.4M | 8.9M | 9.3M |
| Buildings And Improvements | 2.9M | 2.7M | 2.6M | 2.6M | 2.6M |
| Capital Lease Obligations | 518.9M | 476.9M | 465.4M | 407.5M | 377.6M |
| Current Capital Lease Obligation | 99.7M | 93.0M | 89.9M | 85.0M | 80.9M |
| Current Deferred Assets | 122.0M | 126.1M | 107.7M | 92.3M | 238.8M |
| Current Deferred Liabilities | 80.3M | 63.5M | 45.3M | 25.6M | 30.4M |
| Financial Assets | 1.1M | 7.5M | 4.3M | 6.9M | 0.00 |
| Gross Accounts Receivable | 870.2M | 770.4M | 679.8M | 603.2M | 524.8M |
| Hedging Assets Current | 8.1M | 5.3M | 14.2M | 41.5M | 10.8M |
| Held To Maturity Securities | -- | 0.00 | 5.9M | 15.4M | 10.3M |
| Income Tax Payable | 19.8M | 15.3M | 16.5M | 32.3M | 35.4M |
| Investmentin Financial Assets | 7.1M | 7.9M | 14.4M | 24.4M | 19.7M |
| Leases | 220.8M | 189.1M | 182.3M | 149.4M | 135.1M |
| Liabilities Heldfor Sale Non Current | -- | 14.1M | 47.5M | 0.00 | 23.1M |
| Line Of Credit | 133.3M | 72.6M | 168.8M | 24.3M | 162.9M |
| Loans Receivable | 188.6M | 115.2M | 213.0M | 53.6M | 197.7M |
| Machinery Furniture Equipment | 443.4M | 390.4M | 347.0M | 293.4M | 271.2M |
| Non Current Accounts Receivable | 36.0M | 34.0M | 31.5M | 28.2M | 20.1M |
| Non Current Deferred Assets | 98.2M | 85.1M | 62.6M | 67.5M | 71.0M |
| Non Current Deferred Liabilities | 91.0M | 78.5M | 43.2M | 57.8M | 42.4M |
| Non Current Deferred Taxes Assets | 93.9M | 79.3M | 59.5M | 63.5M | 68.5M |
| Non Current Deferred Taxes Liabilities | 91.0M | 78.5M | 43.2M | 57.8M | 42.4M |
| Non Current Note Receivables | 128.4M | 105.4M | 94.5M | 67.0M | 48.0M |
| Other Current Borrowings | 8.1M | 6.1M | 1.8M | 1.4M | 1.5M |
| Other Properties | 443.4M | 398.5M | 390.6M | 341.6M | 316.5M |
| Other Receivables | 161.0M | 134.4M | 83.4M | 91.9M | 71.3M |
| Pensionand Other Post Retirement Benefit Plans Current | 756.5M | 646.0M | 569.2M | 625.6M | 691.6M |
| Properties | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Restricted Cash | 49.0M | 41.7M | 37.9M | 25.4M | 28.5M |
| Taxes Receivable | 32.9M | 13.2M | 48.1M | 22.0M | 13.4M |
| Total Tax Payable | 19.8M | 15.3M | 16.5M | 32.3M | 35.4M |
| Treasury Shares Number | -- | -- | 0.00 | -- | -- |
| Line Item | FY 2025Dec 31, 2025 | FY 2024Dec 31, 2024 | FY 2023Dec 31, 2023 | FY 2022Dec 31, 2022 | FY 2021Dec 31, 2021 |
|---|---|---|---|---|---|
| Operating Cash Flow | 330.1M | 326.0M | 165.7M | 67.0M | 289.0M |
| Cash Flow From Continuing Operating Activities | 330.1M | 326.0M | 165.7M | 67.0M | 289.0M |
| Depreciation And Amortization | 256.0M | 221.6M | 202.5M | 177.4M | 145.1M |
| Depreciation Amortization Depletion | 256.0M | 221.6M | 202.5M | 177.4M | 145.1M |
| Stock Based Compensation | 55.6M | 46.0M | 27.1M | 21.9M | 14.3M |
| Deferred Tax | -16.0M | -30.5M | -9.9M | -26.0M | -37.5M |
| Deferred Income Tax | -16.0M | -30.5M | -9.9M | -26.0M | -37.5M |
| Change In Working Capital | -120.8M | -226.9M | -120.6M | -654.1M | 22.0M |
| Changes In Account Receivables | -211.8M | -210.0M | -203.7M | -469.1M | -322.3M |
| Change In Receivables | -211.8M | -210.0M | -203.7M | -469.1M | -322.3M |
| Change In Payables And Accrued Expense | 30.4M | 79.2M | -61.4M | -46.4M | 399.4M |
| Change In Payable | -44.6M | 16.1M | 9.0M | 39.2M | 153.1M |
| Change In Other Working Capital | -- | -- | -70.4M | -85.5M | 246.3M |
| Change In Other Current Liabilities | 60.6M | -96.1M | 144.5M | -138.6M | -55.1M |
| Other Non Cash Items | -56.8M | 86.1M | -75.3M | 333.1M | 380.2M |
| Capital Expenditure | -78.7M | -65.1M | -84.5M | -67.7M | -58.0M |
| Purchase Of PPE | -78.7M | -65.1M | -84.5M | -67.7M | -58.0M |
| Net PPE Purchase And Sale | -78.7M | -65.1M | -84.5M | -67.7M | -58.0M |
| Purchase Of Business | -277.7M | -540.2M | -64.9M | -1.0B | -60.8M |
| Investing Cash Flow | -334.6M | -783.1M | -134.0M | -872.8M | -49.4M |
| Cash Flow From Continuing Investing Activities | -334.6M | -783.1M | -134.0M | -872.8M | -49.4M |
| Issuance Of Debt | 1.3B | 1.9B | 925.0M | 1.6B | 892.0M |
| Repayment Of Debt | -1.1B | -1.7B | -832.9M | -700.2M | -819.9M |
| Net Issuance Payments Of Debt | 185.6M | 221.6M | 92.0M | 929.0M | 72.1M |
| Issuance Of Capital Stock | 0.00 | 286.9M | 0.00 | -- | -- |
| Repurchase Of Capital Stock | -- | -- | 0.00 | -165.7M | 0.00 |
| Net Common Stock Issuance | 0.00 | 286.9M | 0.00 | -165.7M | 0.00 |
| Common Stock Dividend Paid | -15.2M | -14.7M | -13.5M | -13.1M | -4.2M |
| Common Stock Payments | -- | -- | 0.00 | -165.7M | 0.00 |
| Financing Cash Flow | 74.1M | 452.2M | -7.8M | 612.9M | 18.6M |
| Cash Flow From Continuing Financing Activities | 74.1M | 452.2M | -7.8M | 612.9M | 18.6M |
| Effect Of Exchange Rate Changes | -30.7M | 3.8M | -3.8M | -33.3M | -10.4M |
| Changes In Cash | 69.6M | -4.9M | 23.9M | -192.9M | 258.2M |
| Beginning Cash Position | 218.0M | 219.1M | 199.0M | 425.3M | 177.5M |
| End Cash Position | 256.9M | 218.0M | 219.1M | 199.0M | 425.3M |
| Free Cash Flow | 251.4M | 260.9M | 81.1M | -650,000 | 231.0M |
| Income Tax Paid Supplemental Data | -- | 70.3M | 118.2M | 138.3M | 116.9M |
| Interest Paid Supplemental Data | -- | 89.9M | 96.2M | 49.7M | 28.0M |
| Amortization Cash Flow | 178.7M | 155.4M | 147.9M | 128.7M | 99.2M |
| Amortization Of Intangibles | 178.7M | 155.4M | 147.9M | 128.7M | 99.2M |
| Cash Dividends Paid | -15.2M | -14.7M | -13.5M | -13.1M | -4.2M |
| Change In Account Payable | -44.6M | 16.1M | 9.0M | 39.2M | 153.1M |
| Change In Accrued Expense | 75.0M | 63.2M | -70.4M | -85.5M | 246.3M |
| Common Stock Issuance | 0.00 | 286.9M | 0.00 | -- | -- |
| Depreciation | 77.4M | 66.2M | 54.6M | 48.7M | 45.9M |
| Earnings Losses From Equity Investments | -12.5M | -7.3M | -5.1M | -6.7M | -6.2M |
| Gain Loss On Sale Of Business | -- | 0.00 | 2.3M | 26.8M | 0.00 |
| Long Term Debt Issuance | 1.3B | 1.9B | 925.0M | 1.6B | 892.0M |
| Long Term Debt Payments | -1.1B | -1.7B | -832.9M | -700.2M | -819.9M |
| Net Business Purchase And Sale | -277.7M | -540.2M | -64.9M | -1.0B | -60.8M |
| Net Income From Continuing Operations | 224.6M | 236.9M | 144.7M | 194.5M | -237.6M |
| Net Investment Properties Purchase And Sale | -- | -- | -- | -23.5M | -21.0M |
| Net Long Term Debt Issuance | 185.6M | 221.6M | 92.0M | 929.0M | 72.1M |
| Net Other Financing Charges | -140.9M | -86.7M | -128.4M | -154.1M | -63.7M |
| Net Other Investing Changes | 21.7M | -177.8M | 15.4M | 202.1M | 90.4M |
| Operating Gains Losses | -12.5M | -7.3M | -2.8M | 20.2M | -6.2M |
| Proceeds From Stock Option Exercised | 44.5M | 45.1M | 42.1M | 16.8M | 14.4M |
| Provisionand Write Offof Assets | -- | -- | -- | 5.5M | 8.7M |
| Purchase Of Investment Properties | -- | -- | -- | -161.0M | -31.1M |
| Sale Of Investment Properties | -- | -- | -- | 137.6M | 10.1M |
| Sale Of PPE | -- | -- | 74.6M | 137.6M | -- |