COPT Defense Properties (CDP)

COPT Defense Properties Financials Overview

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

Revenue & Profits

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Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Mar 31, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Revenue Revenue Growth	776.7	763.92	753.27	684.98	739.03	664.45
Revenue Growth	3.86%	1.42%	9.97%	-7.31%	11.22%	14.10%
Gross Profit Gross Profit Growth	447.57	440.03	414	380.18	361.64	347.02
Operating Income Operating Income Growth	234.09	230.37	213.32	-64.34	181.42	168.7
Net Income Net Income Growth	170.76	166.75	148.96	-75.23	214.19	89.97
Earnings Per Share EPS Growth	1.38	1.34	1.23	-0.67	1.53	0.68
EPS Growth	10.40%	8.94%	-	-	125.00%	-21.84%

Revenue by Segment

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Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Mar 31, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Fort Meade/BW Corridor Fort Meade/BW Corridor Growth	332.84	329.92	317.32	292.7	273.79	262.12
Redstone Arsenal Redstone Arsenal Growth	78.88	74.66	69.32	55.13	38.59	35.73
NoVA Defense/IT NoVA Defense/IT Growth	92.48	90.83	86.03	80.41	73.99	65.85
Lackland Air Force Base Lackland Air Force Base Growth	75.02	73.08	67.84	67.25	62.91	57.76
Navy Support Navy Support Growth	34.6	33.57	32.63	32.64	32.75	33.76
Data Center Shells Data Center Shells Growth	48.67	44.87	37.19	27.44	35.72	31.58
Other Segment Other Segment Growth	76.35	74.93	67.39	69.22	68.62	100.27
Construction Contract and Other Service Construction Contract and Other Service Growth	37.86	42.07	75.55	60.18	154.63	107.88
Revenue (Total) Revenue (Total) Growth	776.7	763.92	753.27	684.98	739.03	664.45

Cash & Debt

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Fiscal Year	Current	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Mar 31, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Cash & Investments Cash & Investments Growth	28.58	274.99	38.28	167.82	12.34	13.26
Total Debt Total Debt Growth	2,591	2,813	2,441	2,450	2,261	2,302
Net Cash (Debt) Net Cash Growth	-2,562	-2,538	-2,403	-2,282	-2,248	-2,288
Net Cash Growth	-	-	-	-	-	-
Net Cash Per Share Net Cash Per Share Growth	-22.56	-22.40	-21.28	-20.35	-19.96	-20.36

Cash Flow & CapEx

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Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Mar 31, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Operating Cash Flow Operating Cash Flow Growth	430.69	309.93	330.96	276.27	265.83	249.15
Capital Expenditures CapEx Growth	-280.82	-257.41	-248.68	-352.45	-363.13	-319.42
Free Cash Flow Free Cash Flow Growth	149.86	52.52	82.27	-76.17	-97.31	-70.27
Free Cash Flow Growth	70.27%	-36.16%	-	-	-	-

Margins

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Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Mar 31, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Gross Margin	57.62%	57.60%	54.96%	55.50%	48.93%	52.23%
Operating Margin	30.14%	30.16%	28.32%	-9.39%	24.55%	25.39%
Pretax Margin	21.18%	21.02%	19.15%	-10.77%	20.42%	41.75%
Profit Margin	21.04%	20.88%	19.11%	-10.85%	24.20%	12.28%
FCF Margin	19.29%	6.88%	10.92%	-11.12%	-13.17%	-10.58%

Dividends

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Fiscal Year	Current	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Jul 26, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Dividend Per Share Dividend Per Share Growth	1.280	1.220	1.180	1.140	1.100	1.100
Dividend Per Share Growth	4.17%	3.39%	3.51%	3.64%	0%	0%
Dividend Yield	3.37%	4.37%	3.79%	4.42%	4.25%	3.94%

Valuation

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Fiscal Year	Current	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Jul 26, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
PE Ratio	27.76	20.75	25.16	-	16.95	41.13
P/FCF Ratio	-	59.92	42.40	-	-	-
PS Ratio	5.62	4.12	4.63	4.21	3.95	4.73

Data Source: Fiscal.ai Last updated: May 6, 2026

Financial data is provided by Fiscal.ai and updates within minutes after each earnings release, which is every three months for this company.

Update frequency:

Quarterly

Last checked:

Jul 26, 2026

Data Sources Report a data error