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	Mar 31, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Property Revenue	738.85	721.85	677.72	624.8	584.4	556.57
Service and Other Revenue	37.86	42.07	75.55	60.18	154.63	107.88
Revenue	776.7	763.92	753.27	684.98	739.03	664.45
Revenue Growth (YoY)	3.86%	1.42%	9.97%	-7.31%	11.22%	14.10%
Property Expenses	293.32	283.93	266	247.39	227.43	213.38
Service and Other Expenses	35.81	39.96	73.27	57.42	149.96	104.05
Total Property Expenses	329.13	323.89	339.27	304.8	377.39	317.43
Gross Profit	447.57	440.03	414	380.18	361.64	347.02
Selling, General & Admin	48.33	47.84	47.04	42.77	38.99	40.77
Depreciation & Amortization Expenses	165.15	161.83	153.64	148.95	141.23	137.54
Other Operating Expenses	-	-	-	252.8	-	-
Operating Income	234.09	230.37	213.32	-64.34	181.42	168.7
Net Gains on Disposal of Properties	3.63	3.35	-	49.39	19.25	65.59
Interest Income	16.91	13.49	13.06	12.33	10.81	7.91
Interest Expense	-90.15	-86.66	-82.15	-71.14	-61.17	-65.4
Other Non-Operating Income (Expense)	0.07	0.07	-	-	0.61	100.63
Total Non-Operating Income (Expense)	-69.61	-69.76	-69.09	-9.42	-30.5	108.73
Pretax Income	164.48	160.61	144.23	-73.76	150.91	277.43
Provision for Income Taxes	0.97	0.95	0.29	0.59	0.45	0.15
Net Income	170.76	166.75	148.96	-75.23	214.19	89.97
Minority Interest in Earnings	-7.31	-7.22	-5.01	0.88	-5.79	-5.04
Earnings From Discontinued Operations	-	-	-	-	29.57	3.36
Net Income to Common	170.76	166.75	148.96	-75.23	214.19	89.97
Net Income Growth	12.39%	11.95%	-	-	138.06%	-7.60%
Shares Outstanding (Basic)	113	113	112	112	112	112
Shares Outstanding (Diluted)	114	113	113	112	113	112
Shares Change (YoY)	0.39%	0.36%	0.64%	-0.39%	0.18%	0.30%
EPS (Basic)	1.38	1.35	1.23	-0.67	1.54	0.68
EPS (Diluted)	1.38	1.34	1.23	-0.67	1.53	0.68
EPS Growth	10.40%	8.94%	-	-	125.00%	-21.84%
Shares Outstanding	113.38	113.21	112.7	112.56	112.42	112.33
Free Cash Flow	149.86	52.52	82.27	-76.17	-97.31	-70.27
Free Cash Flow Growth	185.34%	-36.16%	-	-	-	-
Free Cash Flow Per Share	1.32	0.46	0.73	-0.68	-0.86	-0.63
Dividends Per Share	1.235	1.220	1.180	1.140	1.100	1.100
Dividend Growth	1.23%	3.39%	3.51%	3.64%	-	-
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%
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%
EBITDA	277.19	394.07	369.34	87.06	181.42	168.7
EBITDA Margin	35.69%	51.58%	49.03%	12.71%	24.55%	25.39%
EBIT	234.09	230.37	213.32	-64.34	181.42	168.7
EBIT Margin	30.14%	30.16%	28.32%	-9.39%	24.55%	25.39%
Effective Tax Rate	0.59%	0.59%	0.20%	-0.80%	0.30%	0.05%

Updated May 6, 2026. Data Source: Fiscal.ai. Real Estate template. Financial Sources.

SEC Filings: 10-K · 10-Q