COPT Defense Properties (CDP)

COPT Defense Properties Income Statement

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

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Sep 30, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Rental Revenue	760.26	714.18	671.37	619.85	580.17	553.67
Other Revenue	46.36	52.55	82.3	64.87	160.6	111.87
Total Revenue	806.62	766.73	753.66	684.72	740.77	665.54
Revenue Growth (YoY	7.16%	1.73%	10.07%	-7.57%	11.30%	13.93%
Property Expenses	341.43	323.89	339.27	304.8	377.39	317.43
Selling, General & Administrative	49.41	47.84	47.04	42.77	38.99	40.77
Depreciation & Amortization	170.2	161.83	153.64	148.95	141.23	137.54
Total Operating Expenses	561.04	533.56	539.94	496.52	557.61	495.75
Operating Income	245.58	233.17	213.72	188.2	183.16	169.79
Interest Expense	-97.2	-86.66	-82.15	-71.14	-61.17	-65.4
Interest & Investment Income	14.48	9.95	12.28	13.2	9.34	7.88
Other Non-Operating Income	0.82	0.82	0.38	-0.53	-0.27	1.13
EBT Excluding Unusual Items	163.68	157.28	144.23	129.73	131.06	113.4
Gain (Loss) on Sale of Assets	14.73	3.35	-	49.39	19.25	65.59
Asset Writedown	-	-	-	-252.8	-	-
Other Unusual Items	-0.15	-0.15	-	-0.08	-0.61	-100.63
Pretax Income	178.26	160.48	144.23	-73.76	149.7	78.37
Income Tax Expense	0.37	0.95	0.29	0.59	0.45	0.15
Earnings From Continuing Operations	177.89	159.53	143.94	-74.35	149.25	78.22
Earnings From Discontinued Operations	-	-	-	-	29.57	3.36
Net Income to Company	177.89	159.53	143.94	-74.35	178.82	81.58
Minority Interest in Earnings	-7.65	-7.22	-5.01	0.88	-5.79	-5.04
Net Income	170.24	152.32	138.93	-73.47	173.03	76.54
Preferred Dividends & Other Adjustments	0.62	0.62	0.51	1.2	0.45	0.47
Net Income to Common	169.61	151.69	138.42	-74.67	172.58	76.07
Net Income Growth	13.59%	9.59%	-	-	126.86%	-21.52%
Basic Shares Outstanding	113	113	112	112	112	112
Diluted Shares Outstanding	115	113	113	112	113	112
Shares Change	1.33%	0.36%	0.64%	-0.39%	0.18%	0.30%
EPS (Basic)	1.50	1.35	1.23	-0.67	1.54	0.68
EPS (Diluted)	1.48	1.34	1.23	-0.67	1.53	0.68
EPS Growth	11.97%	9.26%	-	-	126.44%	-21.87%

Additional Metrics

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Sep 30, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Dividend Per Share	1.265	1.220	1.180	1.140	1.100	1.100
Dividend Growth	4.54%	3.39%	3.51%	3.64%	0%	0%
Operating Margin	30.45%	30.41%	28.36%	27.49%	24.73%	25.51%
Profit Margin	21.03%	19.78%	18.37%	-10.90%	23.30%	11.43%
EBITDA	416.55	396.87	369.74	339.6	326.75	320.44
EBITDA Margin	51.64%	51.76%	49.06%	49.60%	44.11%	48.15%
D&A For Ebitda	170.96	163.7	156.02	151.4	143.59	150.64
EBIT	245.58	233.17	213.72	188.2	183.16	169.79
EBIT Margin	30.45%	30.41%	28.36%	27.49%	24.73%	25.51%
Funds From Operations (FFO)	327.2	313.22	294.37	275.31	268.11	159.54
FFO Per Share	-	2.72	2.57	2.41	2.35	1.40
Adjusted Funds From Operations (AFFO)	256.55	233.93	220.07	202.93	178.34	159.54
AFFO Per Share	2.20	2.03	1.93	1.78	1.56	1.40
FFO Payout Ratio	-	43.61%	44.79%	46.19%	46.12%	77.43%
Effective Tax Rate	0.21%	0.59%	0.20%	-	0.30%	0.18%
Revenue as Reported	804.15	763.92	753.27	684.98	739.03	664.45

SEC Filings: 10-K · 10-Q

Data Source: S&P Global Market Intelligence Last updated: Sep 30, 2026

Financial data is provided by S&P Global Market Intelligence and updates within hours after each earnings release, which is every three months for this company.

Update frequency:

Quarterly

Last checked:

Nov 4, 2026

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