COPT Defense Properties (CDP)

COPT Defense Properties Income Statement

Financials in millions USD. Fiscal year is January - December.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Property Revenue	721.85	677.72	624.8	584.4	556.57
Service and Other Revenue	42.07	75.55	60.18	154.63	107.88
Revenue	763.92	753.27	684.98	739.03	664.45
Revenue Growth (YoY)	1.42%	9.97%	-7.31%	11.22%	14.10%
Property Expenses	283.93	266	247.39	227.43	213.38
Service and Other Expenses	39.96	73.27	57.42	149.96	104.05
Total Property Expenses	323.89	339.27	304.8	377.39	317.43
Gross Profit	440.03	414	380.18	361.64	347.02
Selling, General & Admin	47.84	47.04	42.77	38.99	40.77
Depreciation & Amortization Expenses	161.83	153.64	148.95	141.23	137.54
Other Operating Expenses	-	-	252.8	-	-
Operating Income	230.37	213.32	-64.34	181.42	168.7
Net Gains on Disposal of Properties	3.35	-	49.39	19.25	65.59
Interest Income	13.49	13.06	12.33	10.81	7.91
Interest Expense	-86.66	-82.15	-71.14	-61.17	-65.4
Other Non-Operating Income (Expense)	0.07	-	-	0.61	100.63
Total Non-Operating Income (Expense)	-69.76	-69.09	-9.42	-30.5	108.73
Pretax Income	160.61	144.23	-73.76	150.91	277.43
Provision for Income Taxes	0.95	0.29	0.59	0.45	0.15
Net Income	166.75	148.96	-75.23	214.19	89.97
Minority Interest in Earnings	-7.22	-5.01	0.88	-5.79	-5.04
Earnings From Discontinued Operations	-	-	-	29.57	3.36
Net Income to Common	166.75	148.96	-75.23	214.19	89.97
Net Income Growth	11.95%	-	-	138.06%	-7.60%
Shares Outstanding (Basic)	113	112	112	112	112
Shares Outstanding (Diluted)	113	113	112	113	112
Shares Change (YoY)	0.36%	0.64%	-0.39%	0.18%	0.30%
EPS (Basic)	1.35	1.23	-0.67	1.54	0.68
EPS (Diluted)	1.34	1.23	-0.67	1.53	0.68
EPS Growth	8.94%	-	-	125.00%	-21.84%
Free Cash Flow	52.52	82.27	-76.17	-97.31	-70.27
Free Cash Flow Growth	-36.16%	-	-	-	-
Free Cash Flow Per Share	0.46	0.73	-0.68	-0.86	-0.63
Dividends Per Share	1.220	1.180	1.140	1.100	1.100
Dividend Growth	3.39%	3.51%	3.64%	-	-
Gross Margin	57.60%	54.96%	55.50%	48.93%	52.23%
Operating Margin	30.16%	28.32%	-9.39%	24.55%	25.39%
Profit Margin	20.88%	19.11%	-10.85%	24.20%	12.28%
FCF Margin	6.88%	10.92%	-11.12%	-13.17%	-10.58%
EBITDA	394.07	369.34	87.06	181.42	168.7
EBITDA Margin	51.58%	49.03%	12.71%	24.55%	25.39%
EBIT	230.37	213.32	-64.34	181.42	168.7
EBIT Margin	30.16%	28.32%	-9.39%	24.55%	25.39%
Effective Tax Rate	0.59%	0.20%	-0.80%	0.30%	0.05%

Updated Dec 31, 2025. Data Source: Fiscal.ai. Real Estate template. Financial Sources.

SEC Filings: 10-K · 10-Q