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Cbl & Assoc Pptys Inc Financials

CBL
FY2025 annual
Revenue $578.4M +12.2% YoY
Net Income $136.0M +130.6% YoY
EPS (Diluted) $4.34 +132.1% YoY
Free Cash Flow Not reported for FY2025
Source SEC Filings (10-K/10-Q) Data as of Jun 30, 2026 Currency USD FYE December

Cbl & Assoc Pptys Inc (CBL) reported $578.4M in revenue for fiscal year 2025, up 12.2% from the prior fiscal year. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 15 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).

Rhea AI CBL FY2025

The asset base throws off operating cash that is largely spoken for by a heavily leveraged capital structure.

ROE of 36.3% looks stronger than the business’s asset-level economics, because ROA was only 5.0%. With debt at 5.8x equity, the balance sheet magnifies operating results into much larger returns on the thinner equity base.

Across FY2023-FY2025, operating cash flow stayed well above reported earnings and reached $250M in FY2025, showing that non-cash charges are a major part of the income statement rather than a sign that cash generation is weak. Yet cash on hand was only $42M, which suggests that debt service, distributions, and other financing uses absorb most of the cash the assets produce.

Net income moved from $6.5M in FY2023 to $136M in FY2025, which implies a fixed-cost-heavy model where incremental revenue gains can change reported profit much faster than the top line. Interest expense was still $176M in FY2025, so the operating story remains tightly linked to how much of the asset cash flow must be reserved for lenders.

[ NOT FINANCIAL ADVICE ]

Financial Health Signals

FFO Margin FFOGrowth Leverage Interest Cov. AFFOMargin DividendCov. 52 / 100
Financial Health Score 52/100
Scored as: REITs peer group

Scored against REITs for FY2025. Each of the six dimensions is a percentile rank within that peer group; the overall is their average, with missing dimensions counted as zero out of six. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →

Health score ≠ stock price. This rates the quality of Cbl & Assoc Pptys Inc's business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.

FFO Margin
68
FFO Growth
80
Leverage
0

Not available for Cbl & Assoc Pptys Inc, and counted as zero in the overall score.

Interest Cov.
0

Not available for Cbl & Assoc Pptys Inc, and counted as zero in the overall score.

AFFO Margin
71
Dividend Cov.
92
Piotroski F-Score Partial
7/7

Cbl & Assoc Pptys Inc passes 7 of 7 computable financial strength tests (2 of the nine could not be computed from available data). All 4 profitability signals pass (positive income, cash flow, and earnings quality), all 2 leverage/liquidity signals pass, both operating efficiency signals pass.

Earnings Quality Cash-Backed
1.84x

For every $1 of reported earnings, Cbl & Assoc Pptys Inc generates $1.84 in operating cash flow ($249.7M OCF vs $136.0M net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.

Key Financial Metrics

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Earnings & Revenue

Revenue
$578.4M
YoY+12.2%

Cbl & Assoc Pptys Inc generated $578.4M in revenue in fiscal year 2025. This represents an increase of 12.2% from the prior year.

Net Income
$136.0M
YoY+130.6%

Cbl & Assoc Pptys Inc reported $136.0M in net income in fiscal year 2025. This represents an increase of 130.6% from the prior year.

EPS (Diluted)
$4.34
YoY+132.1%

Cbl & Assoc Pptys Inc earned $4.34 per diluted share (EPS) in fiscal year 2025. This represents an increase of 132.1% from the prior year.

EBITDA

Not reported for fiscal year 2025.

Cash & Balance Sheet

Cash & Debt
$42.3M
YoY+3.7%
5Y CAGR-7.3%
10Y CAGR+1.4%

Cbl & Assoc Pptys Inc held $42.3M in cash against $2.2B in long-term debt as of fiscal year 2025.

Shares Outstanding
30M
YoY-1.3%

Cbl & Assoc Pptys Inc had 30M shares outstanding in fiscal year 2025. This represents a decrease of 1.3% from the prior year.

Free Cash Flow

Not reported for fiscal year 2025.

Dividends Per Share

Not reported for fiscal year 2025.

Margins & Returns

Net Margin
23.5%
YoY+12.1pp

Cbl & Assoc Pptys Inc's net profit margin was 23.5% in fiscal year 2025, showing the share of revenue converted to profit. This is up 12.1 percentage points from the prior year.

Return on Equity
36.3%
YoY+18.0pp

Cbl & Assoc Pptys Inc's ROE was 36.3% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is up 18.0 percentage points from the prior year.

Gross Margin

Not reported for fiscal year 2025.

Operating Margin

Not reported for fiscal year 2025.

Capital Allocation

Share Buybacks
$18.1M
YoY-50.5%

Cbl & Assoc Pptys Inc spent $18.1M on share buybacks in fiscal year 2025, returning capital to shareholders by reducing shares outstanding. This represents a decrease of 50.5% from the prior year.

R&D Spending

Not reported for fiscal year 2025.

Capital Expenditures

Not reported for fiscal year 2025.

CBL Income Statement

Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.

CBL annual income statement
MetricTTMFY25FY24FY23FY22FY21FY20FY19FY18FY17FY16FY15FY14FY13FY12FY11
Revenue$588.1M$578.4M+12.2%$515.6M-3.7%$535.3M-4.9%$563.0MN/A$575.9M-25.1%$768.7M-10.5%$858.6M-7.4%$927.3M-9.8%$1.0B-2.5%$1.1B-0.5%$1.1B+0.7%$1.1B+5.1%$1.0B-4.6%$1.1B
SG&A Expenses$66.5M$69.0M+2.7%$67.3M+5.0%$64.1M-4.7%$67.2MN/A$53.4M-16.8%$64.2M+4.3%$61.5M+5.2%$58.5M-7.7%$63.3M+2.0%$62.1M+23.6%$50.3M+2.9%$48.9M-4.7%$51.3M+14.5%$44.8M
Operating IncomeN/AN/AN/AN/AN/AN/AN/AN/AN/A$232.6M-8.3%$253.6M-8.6%$277.6M-26.0%$375.1M+13.4%$330.8M-10.6%$369.9M+3.1%$358.7M
Interest Expense$170.4M$176.0M+13.9%$154.5M-10.7%$172.9M-20.4%$217.3MN/A$200.7M-2.7%$206.3M-6.3%$220.0M+0.6%$218.7M+1.1%$216.3M-5.7%$229.3M-4.4%$239.8M+3.4%$231.9M-4.3%$242.4M-9.3%$267.1M
Income Tax-$11K$475K-55.0%$1.1M+18.0%$894K-71.0%$3.1MN/A$16.8M+434.0%$3.2M+303.3%-$1.6M+19.8%-$1.9M+6.3%-$2.1M-170.1%$2.9M-34.6%$4.5M+244.8%$1.3M-7.1%$1.4M+621.9%-$269K
Net Income$217.3M$136.0M+130.6%$59.0M+800.9%$6.5M+107.0%-$93.5MN/A-$295.1M-171.3%-$108.8M-38.4%-$78.6M-165.0%$120.9M-30.0%$172.9M+67.2%$103.4M-52.8%$219.2M+157.2%$85.2M-35.3%$131.6M-1.7%$133.9M
EPS (Diluted)$4.34+132.1%$1.87+1000.0%$0.17+105.3%-$3.20N/A-$1.75N/AN/A$0.44-41.3%$0.75+120.6%$0.34-66.7%$1.02$0.24-55.6%$0.54-12.9%$0.62

Not reported in any period shown, so not listed: Cost of Revenue, Gross Profit, R&D Expenses.

TTM is the trailing twelve months, Q3 FY2025 through Q2 FY2026, summed from the four most recent quarterly filings. A row marked — cannot be summed at all, because a quarter in the window reports no per-share figure; a row marked N/A could be summed, but a quarter in the window does not report that metric.

CBL Balance Sheet

Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.

CBL annual balance sheet
MetricFY25FY24FY23FY22FY21FY20FY19FY18FY17FY16FY15FY14FY13FY12FY11
Total Assets$2.7B-0.7%$2.7B+14.2%$2.4B-10.2%$2.7B-9.1%$2.9B-33.7%$4.4B-3.9%$4.6B-13.5%$5.3B-6.4%$5.7B-6.5%$6.1B-5.8%$6.5B-1.8%$6.6B-2.5%$6.8B-4.5%$7.1B+5.5%$6.7B
Cash & Equivalents$42.3M+3.7%$40.8M+19.3%$34.2M-23.5%$44.7M-73.6%$169.6M+174.4%$61.8M+88.3%$32.8M+30.5%$25.1M-23.0%$32.6M+72.2%$19.0M-48.6%$36.9M-2.8%$37.9M-42.1%$65.5M-16.3%$78.2M+39.5%$56.1M
Accounts Receivable$46.5M+2.0%$45.6M+5.0%$43.4M+6.9%$40.6M+61.3%$25.2M-75.7%$103.7M+37.7%$75.3M-3.3%$77.8M-6.9%$83.6M-11.7%$94.7M+8.5%$87.3M+7.3%$81.3M+1.8%$79.9M+1.2%$79.0M+6.5%$74.2M
Total Liabilities$2.4B-2.9%$2.4B+17.3%$2.1B-10.2%$2.3B-9.2%$2.5B-34.9%$3.9B+4.1%$3.8B-12.7%$4.3B-3.5%$4.5B-6.0%$4.7B-6.1%$5.1B+0.5%$5.0B-3.1%$5.2B+1.7%$5.1B+6.5%$4.8B
Long-Term Debt$2.2B-1.9%$2.2B+17.1%$1.9B-5.6%$2.0B+10.3%$1.8B+53.0%$1.2B-66.4%$3.5B-12.8%$4.0B-4.4%$4.2B-5.3%$4.5B-5.2%$4.7B+0.6%$4.7B-3.6%$4.9B+2.4%$4.7B+5.7%$4.5B
Total Equity$374.9M+15.9%$323.5M-4.6%$339.3M-8.4%$370.5M-6.5%$396.2M-25.5%$531.8M-34.0%$806.3M-16.4%$964.1M-15.4%$1.1B-7.2%$1.2B-4.4%$1.3B-8.6%$1.4B+0.1%$1.4B+5.7%$1.3B+5.2%$1.3B
Retained Earnings-$313.0M+15.8%-$371.8M+2.3%-$380.4M-12.2%-$338.9M-123.7%-$151.5M+89.6%-$1.5B-25.4%-$1.2B-15.5%-$1.0B-20.3%-$836.3M-12.7%-$742.1M-7.7%-$689.0M-21.6%-$566.8M+0.7%-$570.8M-25.8%-$453.6M-13.5%-$399.6M

Not reported in any period shown, so not listed: Current Assets, Inventory, Goodwill, Current Liabilities.

CBL Cash Flow Statement

Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.

CBL annual cash flow statement
MetricTTMFY25FY24FY23FY22FY21FY20FY19FY18FY17FY16FY15FY14FY13FY12FY11
Operating Cash Flow$282.9M$249.7M+23.5%$202.2M+10.2%$183.5M-11.9%$208.2MN/A$133.4M-51.2%$273.4M-27.5%$377.2M-12.4%$430.4MN/AN/AN/AN/A$481.5M+9.0%$441.8M
Investing Cash Flow-$161.6M-$115.1M-277.1%$65.0M+3721.6%$1.7M+101.1%-$156.7MN/A-$280.4M-1240.5%$24.6M+189.5%-$27.5M+63.8%-$75.8MN/AN/AN/AN/A-$246.7M-792.3%-$27.6M
Financing Cash Flow-$123.2M-$135.4M+42.7%-$236.5M-15.9%-$204.1M-40.0%-$145.8MN/A$209.7M+170.7%-$296.4M+17.8%-$360.4M-2.5%-$351.5MN/AN/AN/AN/A-$212.7M+48.0%-$409.0M
Dividends Paid$66.3M$77.1M+53.1%$50.4M-57.4%$118.1M+394.7%$23.9MN/AN/A$26.0M-81.2%$137.8M-24.0%$181.3MN/AN/AN/AN/A$133.7M+8.7%$123.0M
Share Buybacks$19.4M$18.1M-50.5%$36.5M+3187.5%$1.1MN/AN/AN/AN/AN/AN/AN/AN/AN/AN/AN/AN/A

Not reported in any period shown, so not listed: Capital Expenditures, Free Cash Flow.

TTM is the trailing twelve months, Q3 FY2025 through Q2 FY2026, summed from the four most recent quarterly filings. A row marked — cannot be summed at all, because a quarter in the window reports no per-share figure; a row marked N/A could be summed, but a quarter in the window does not report that metric.

CBL Financial Ratios

Margins and returns are percentages; the remaining ratios are unitless multiples.

CBL annual financial ratios
MetricFY25FY24FY23FY22FY21FY20FY19FY18FY17FY16FY15FY14FY13FY12FY11
Operating MarginN/AN/AN/AN/AN/AN/AN/AN/A25.1%+0.4pp24.7%-1.6pp26.3%-9.1pp35.4%+4.0pp31.4%-5.5pp36.9%+2.8pp34.1%
Net Margin23.5%+12.1pp11.4%+10.2pp1.2%+17.8pp-16.6%N/A-51.2%-37.1pp-14.1%-5.0pp-9.2%-22.2pp13.0%-3.8pp16.8%+7.0pp9.8%-10.9pp20.7%+12.6pp8.1%-5.0pp13.1%+0.4pp12.7%
Return on Equity36.3%+18.0pp18.2%+16.3pp1.9%+27.2pp-25.2%N/A-55.5%-42.0pp-13.5%-5.3pp-8.2%-18.8pp10.6%-3.5pp14.1%+6.0pp8.0%-7.5pp15.6%+9.5pp6.1%-3.8pp9.9%-0.7pp10.6%
Return on Assets5.0%+2.8pp2.1%+1.9pp0.3%+3.8pp-3.5%N/A-6.6%-4.3pp-2.4%-0.9pp-1.5%-3.6pp2.1%-0.7pp2.8%+1.2pp1.6%-1.7pp3.3%+2.1pp1.3%-0.6pp1.9%-0.1pp2.0%
Debt-to-Equity5.79-1.0x6.84+1.3x5.57+0.2x5.40+0.8x4.58+2.3x2.23-2.1x4.37+0.2x4.19+0.5x3.71+0.1x3.630.0x3.67+0.3x3.33-0.1x3.46-0.1x3.570.0x3.55

Not reported in any period shown, so not listed: Gross Margin, Current Ratio, FCF Margin.

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Frequently Asked Questions

What is Cbl & Assoc Pptys Inc's annual revenue?

Cbl & Assoc Pptys Inc (CBL) reported $578.4M in total revenue for fiscal year 2025. This represents a 12.2% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.

How fast is Cbl & Assoc Pptys Inc's revenue growing?

Cbl & Assoc Pptys Inc (CBL) revenue grew by 12.2% year-over-year, from $515.6M to $578.4M in fiscal year 2025.

Is Cbl & Assoc Pptys Inc profitable?

Yes, Cbl & Assoc Pptys Inc (CBL) reported a net income of $136.0M in fiscal year 2025, with a net profit margin of 23.5%.

Cbl & Assoc Pptys Inc (CBL) reported diluted earnings per share of $4.34 for fiscal year 2025. This represents a 132.1% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.

As of fiscal year 2025, Cbl & Assoc Pptys Inc (CBL) had $42.3M in cash and equivalents against $2.2B in long-term debt.

Cbl & Assoc Pptys Inc (CBL) had a net profit margin of 23.5% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.

Cbl & Assoc Pptys Inc (CBL) has a return on equity of 36.3% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

Cbl & Assoc Pptys Inc (CBL) generated $249.7M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

Cbl & Assoc Pptys Inc (CBL) had $2.7B in total assets as of fiscal year 2025, including both current and long-term assets.

Yes, Cbl & Assoc Pptys Inc (CBL) spent $18.1M on share buybacks during fiscal year 2025, returning capital to shareholders by reducing shares outstanding.

Cbl & Assoc Pptys Inc (CBL) had 30M shares outstanding as of fiscal year 2025.

Cbl & Assoc Pptys Inc (CBL) had a debt-to-equity ratio of 5.79 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

Cbl & Assoc Pptys Inc (CBL) had a return on assets of 5.0% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

Cbl & Assoc Pptys Inc (CBL) has a Piotroski F-Score of 7 out of 7 computable signals; 2 of the nine could not be computed from available data, so the full-scale strength rating is not shown. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Cbl & Assoc Pptys Inc (CBL) has an earnings quality ratio of 1.84x, considered cash-backed (high quality). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.

Cbl & Assoc Pptys Inc (CBL) scores 52 out of 100 on our Financial Health Score, indicating moderate standing within its REITs peer group. The score is a 0-100 composite of six dimensions (FFO Margin, FFO Growth, Leverage, Interest Cov., AFFO Margin, Dividend Cov.), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.

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