Copt Defense Properties Financials

CDP

Source SEC Filings (10-K/10-Q) Updated Sep 30, 2025 Currency USD FYE December

Financial Health Signals

Piotroski F-Score Neutral

6/9

Copt Defense Properties passes 6 of 9 financial strength tests. All 4 profitability signals pass (positive income, cash flow, and earnings quality), 1 of 2 leverage/liquidity signals pass, both operating efficiency signals pass.

Earnings Quality Cash-Backed

2.30x

For every $1 of reported earnings, Copt Defense Properties generates $2.30 in operating cash flow ($331.0M OCF vs $143.9M net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.

This page shows Copt Defense Properties (CDP) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 17 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).

Export CSV

Key Financial Metrics

Revenue

$753.3M

YoY+10.0%

5Y CAGR+4.2%

10Y CAGR+2.5%

Copt Defense Properties generated $753.3M in revenue in fiscal year 2024. This represents an increase of 10.0% from the prior year.

EBITDA

N/A

Free Cash Flow

N/A

Net Income

$143.9M

YoY+293.6%

5Y CAGR-5.6%

10Y CAGR+13.6%

Copt Defense Properties reported $143.9M in net income in fiscal year 2024. This represents an increase of 293.6% from the prior year.

EPS (Diluted)

$1.23

YoY+283.6%

5Y CAGR-6.4%

10Y CAGR+17.3%

Copt Defense Properties earned $1.23 per diluted share (EPS) in fiscal year 2024. This represents an increase of 283.6% from the prior year.

Cash & Debt

$38.3M

YoY-77.2%

5Y CAGR+21.0%

10Y CAGR+20.2%

Copt Defense Properties held $38.3M in cash against $2.4B in long-term debt as of fiscal year 2024.

Dividends Per Share

$1.18

YoY+3.5%

5Y CAGR+1.4%

10Y CAGR+0.7%

Copt Defense Properties paid $1.18 per share in dividends in fiscal year 2024. This represents an increase of 3.5% from the prior year.

Shares Outstanding

113M

YoY+0.1%

5Y CAGR+0.1%

10Y CAGR+1.9%

Copt Defense Properties had 113M shares outstanding in fiscal year 2024. This represents an increase of 0.1% from the prior year.

Gross Margin

N/A

Operating Margin

N/A

Net Margin

19.1%

YoY+30.0pp

5Y CAGR-12.2pp

10Y CAGR+12.3pp

Copt Defense Properties's net profit margin was 19.1% in fiscal year 2024, showing the share of revenue converted to profit. This is up 30.0 percentage points from the prior year.

Return on Equity

9.6%

5Y CAGR-1.8pp

10Y CAGR+6.9pp

Copt Defense Properties's ROE was 9.6% in fiscal year 2024, measuring profit generated per dollar of shareholder equity.

R&D Spending

N/A

Share Buybacks

N/A

Capital Expenditures

N/A

CDP Income Statement

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Revenue	$753.3M+10.0%	$685.0M-7.3%	$739.0M+11.2%	$664.4M+14.1%	$582.4M-4.8%	$611.8M
Cost of Revenue	N/A	N/A	N/A	$104.1M+53.9%	$67.6M-38.5%	$110.0M
Gross Profit	N/A	N/A	N/A	$560.4M+8.9%	$514.7M+2.6%	$501.9M
R&D Expenses	N/A	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	$47.0M+10.0%	$42.8M+9.7%	$39.0M-4.4%	$40.8M+23.6%	$33.0M-6.8%	$35.4M
Operating Income	N/A	N/A	N/A	N/A	N/A	N/A
Interest Expense	$82.2M+15.5%	$71.1M+16.3%	$61.2M-6.5%	$65.4M-3.7%	$67.9M-4.4%	$71.1M
Income Tax	$288K-51.0%	$588K+31.5%	$447K+208.3%	$145K-58.9%	$353K+262.7%	-$217K
Net Income	$143.9M+293.6%	-$74.3M-141.6%	$178.8M+119.2%	$81.6M-16.2%	$97.4M-49.2%	$191.7M
EPS (Diluted)	$1.23+283.6%	$-0.67-143.8%	$1.53+125.0%	$0.68-21.8%	$0.87-49.1%	$1.71

Metric	Q3'25	Q2'25	Q1'25	Q3'24	Q2'24	Q1'24	Q4'23	Q3'23
Revenue	$188.8M-0.6%	$189.9M+1.1%	$187.9M+2.4%	$183.4M-2.1%	$187.3M-3.1%	$193.3M+7.5%	$179.7M+6.6%	$168.6M
Cost of Revenue	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Gross Profit	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
R&D Expenses	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	$12.0M+1.0%	$11.9M-2.0%	$12.2M+2.6%	$11.8M-1.6%	$12.0M+2.4%	$11.7M+3.5%	$11.3M+7.3%	$10.6M
Operating Income	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Interest Expense	$20.9M-0.2%	$20.9M+2.1%	$20.5M+0.6%	$20.4M-1.1%	$20.6M-0.7%	$20.8M+1.9%	$20.4M+14.5%	$17.8M
Income Tax	$612K+423.1%	$117K+13.6%	$103K+529.2%	-$24K-271.4%	$14K-91.7%	$168K+38.8%	$121K-20.4%	$152K
Net Income	$43.7M+8.9%	$40.2M+10.9%	$36.2M-0.7%	$36.5M+0.2%	$36.4M+8.1%	$33.7M-3.3%	$34.8M+115.7%	-$221.2M
EPS (Diluted)	$0.37+8.8%	$0.34+9.7%	$0.310.0%	$0.310.0%	$0.31+6.9%	$0.29-3.3%	$0.30+115.5%	$-1.94

CDP Balance Sheet

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Total Assets	$4.3B+0.2%	$4.2B-0.2%	$4.3B-0.1%	$4.3B+4.5%	$4.1B+5.8%	$3.9B
Current Assets	N/A	N/A	N/A	N/A	N/A	N/A
Cash & Equivalents	$38.3M-77.2%	$167.8M+1260.3%	$12.3M-7.0%	$13.3M-27.8%	$18.4M+24.7%	$14.7M
Inventory	N/A	N/A	N/A	N/A	N/A	N/A
Accounts Receivable	$42.2M-13.7%	$48.9M+13.0%	$43.3M+6.3%	$40.8M-2.1%	$41.6M+17.5%	$35.4M
Goodwill	N/A	N/A	N/A	N/A	N/A	N/A
Total Liabilities	$2.7B-0.2%	$2.7B+7.6%	$2.5B-2.7%	$2.6B+9.4%	$2.4B+12.0%	$2.1B
Current Liabilities	N/A	N/A	N/A	N/A	N/A	N/A
Long-Term Debt	$2.4B-1.0%	$2.4B+8.3%	$2.2B-1.8%	$2.3B+8.9%	$2.1B+14.0%	$1.8B
Total Equity	$1.5B+0.6%	$1.5B-11.8%	$1.7B+3.6%	$1.6B-2.3%	$1.7B-1.1%	$1.7B
Retained Earnings	N/A	N/A	N/A	N/A	N/A	N/A

Metric	Q3'25	Q2'25	Q1'25	Q3'24	Q2'24	Q1'24	Q4'23	Q3'23
Total Assets	$4.4B+1.5%	$4.3B+0.9%	$4.3B-0.1%	$4.3B+0.8%	$4.2B-0.3%	$4.2B-0.3%	$4.2B+0.2%	$4.2B
Current Assets	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Cash & Equivalents	$23.7M+11.3%	$21.3M-12.4%	$24.3M-36.5%	$38.3M-61.9%	$100.4M-18.4%	$123.1M-26.6%	$167.8M-17.8%	$204.2M
Inventory	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Accounts Receivable	$38.9M-11.3%	$43.9M-4.5%	$45.9M+8.7%	$42.2M-10.1%	$47.0M-6.2%	$50.1M+2.3%	$48.9M+21.7%	$40.2M
Goodwill	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Total Liabilities	$2.8B+2.0%	$2.7B+1.1%	$2.7B-0.2%	$2.7B+1.0%	$2.7B-0.7%	$2.7B-0.6%	$2.7B+0.3%	$2.7B
Current Liabilities	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Long-Term Debt	$2.4B+0.2%	$2.4B+1.1%	$2.4B+0.9%	$2.4B+0.1%	$2.4B-1.1%	$2.4B0.0%	$2.4B0.0%	$2.4B
Total Equity	$1.5B+0.6%	$1.5B+0.5%	$1.5B-0.1%	$1.5B+0.4%	$1.5B+0.3%	$1.5B-0.1%	$1.5B-0.1%	$1.5B
Retained Earnings	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

CDP Cash Flow Statement

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Operating Cash Flow	$331.0M+19.8%	$276.3M+3.9%	$265.8M+6.7%	$249.1M+4.5%	$238.4M+4.3%	$228.6M
Capital Expenditures	N/A	N/A	N/A	N/A	N/A	N/A
Free Cash Flow	N/A	N/A	N/A	N/A	N/A	N/A
Investing Cash Flow	-$291.0M-71.6%	-$169.6M-103.2%	-$83.5M+58.9%	-$203.0M+37.7%	-$325.8M-136.1%	-$138.0M
Financing Cash Flow	-$169.7M-466.7%	$46.3M+125.3%	-$183.2M-259.9%	-$50.9M-155.8%	$91.3M+208.2%	-$84.4M
Dividends Paid	$131.8M+3.7%	$127.2M+2.9%	$123.6M+0.1%	$123.5M+0.1%	$123.4M+0.6%	$122.7M
Share Buybacks	N/A	N/A	N/A	N/A	N/A	$2.1M

Metric	Q3'25	Q2'25	Q1'25	Q3'24	Q2'24	Q1'24	Q4'23	Q3'23
Operating Cash Flow	$68.6M-21.9%	$87.9M+21.9%	$72.1M-28.7%	$101.1M+7.7%	$93.8M+32.2%	$71.0M+6.5%	$66.6M-3.0%	$68.7M
Capital Expenditures	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Free Cash Flow	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Investing Cash Flow	-$34.5M+56.3%	-$79.0M-13.6%	-$69.5M-12.4%	-$61.9M-16.0%	-$53.3M+32.4%	-$78.9M-16.4%	-$67.8M+20.6%	-$85.4M
Financing Cash Flow	-$32.7M-183.5%	-$11.5M+28.7%	-$16.2M+54.0%	-$35.2M+44.2%	-$63.0M-72.9%	-$36.4M-4.7%	-$34.8M-116.9%	$205.7M
Dividends Paid	$34.4M0.0%	$34.4M+3.5%	$33.3M+0.1%	$33.3M+0.1%	$33.2M+3.5%	$32.1M+0.1%	$32.1M0.0%	$32.1M
Share Buybacks	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

CDP Financial Ratios

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Gross Margin	N/A	N/A	N/A	84.3%-4.0pp	88.4%+6.4pp	82.0%
Operating Margin	N/A	N/A	N/A	N/A	N/A	N/A
Net Margin	19.1%+30.0pp	-10.8%-35.0pp	24.2%+11.9pp	12.3%-4.4pp	16.7%-14.6pp	31.3%
Return on Equity	9.6%	N/A	10.6%+5.6pp	5.0%-0.8pp	5.9%-5.6pp	11.4%
Return on Assets	3.4%+5.1pp	-1.8%-6.0pp	4.2%+2.3pp	1.9%-0.5pp	2.4%-2.6pp	5.0%
Current Ratio	N/A	N/A	N/A	N/A	N/A	N/A
Debt-to-Equity	1.60-0.0	1.63+0.3	1.33-0.1	1.40+0.1	1.26+0.2	1.09
FCF Margin	N/A	N/A	N/A	N/A	N/A	N/A

Metric	Q3'25	Q2'25	Q1'25	Q3'24	Q2'24	Q1'24	Q4'23	Q3'23
Gross Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Operating Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Net Margin	23.2%+2.0pp	21.1%+1.9pp	19.3%-0.6pp	19.9%+0.5pp	19.4%+2.0pp	17.4%-2.0pp	19.4%+150.6pp	-131.2%
Return on Equity	2.9%+0.2pp	2.7%+0.3pp	2.4%-0.0pp	2.4%0.0pp	2.5%+0.2pp	2.3%-0.1pp	2.4%	N/A
Return on Assets	1.0%+0.1pp	0.9%+0.1pp	0.9%0.0pp	0.9%0.0pp	0.9%+0.1pp	0.8%-0.0pp	0.8%+6.0pp	-5.2%
Current Ratio	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Debt-to-Equity	1.620.0	1.63+0.0	1.62+0.0	1.600.0	1.61-0.0	1.630.0	1.630.0	1.63
FCF Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

Similar Companies

Douglas Emmett Inc DEI

$1.7B

Sl Green Rlty SLG

$2.9B

Highwoods Pptys Inc HIW

$2.5B

Cousins Pptys Inc CUZ

$3.8B

Kilroy Rlty Corp KRC

$3.8B

Frequently Asked Questions

What is Copt Defense Properties's annual revenue?

Copt Defense Properties (CDP) reported $753.3M in total revenue for fiscal year 2024. This represents a 10.0% 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 Copt Defense Properties's revenue growing?

Copt Defense Properties (CDP) revenue grew by 10% year-over-year, from $685.0M to $753.3M in fiscal year 2024.

Is Copt Defense Properties profitable?

Yes, Copt Defense Properties (CDP) reported a net income of $143.9M in fiscal year 2024, with a net profit margin of 19.1%.

What is Copt Defense Properties's earnings per share (EPS)?

Copt Defense Properties (CDP) reported diluted earnings per share of $1.23 for fiscal year 2024. This represents a 283.6% 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.

How much debt does Copt Defense Properties have?

As of fiscal year 2024, Copt Defense Properties (CDP) had $38.3M in cash and equivalents against $2.4B in long-term debt.

What is Copt Defense Properties's net profit margin?

Copt Defense Properties (CDP) had a net profit margin of 19.1% in fiscal year 2024, representing the share of revenue converted into profit after all expenses.

Does Copt Defense Properties pay dividends?

Yes, Copt Defense Properties (CDP) paid $1.18 per share in dividends during fiscal year 2024.

What is Copt Defense Properties's return on equity (ROE)?

Copt Defense Properties (CDP) has a return on equity of 9.6% for fiscal year 2024, measuring how efficiently the company generates profit from shareholder equity.

What is Copt Defense Properties's operating cash flow?

Copt Defense Properties (CDP) generated $331.0M in operating cash flow during fiscal year 2024, representing cash generated from core business activities.

What are Copt Defense Properties's total assets?

Copt Defense Properties (CDP) had $4.3B in total assets as of fiscal year 2024, including both current and long-term assets.

How many shares does Copt Defense Properties have outstanding?

Copt Defense Properties (CDP) had 113M shares outstanding as of fiscal year 2024.

What is Copt Defense Properties's debt-to-equity ratio?

Copt Defense Properties (CDP) had a debt-to-equity ratio of 1.60 as of fiscal year 2024, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is Copt Defense Properties's return on assets (ROA)?

Copt Defense Properties (CDP) had a return on assets of 3.4% for fiscal year 2024, measuring how efficiently the company uses its assets to generate profit.

What is Copt Defense Properties's Piotroski F-Score?

Copt Defense Properties (CDP) has a Piotroski F-Score of 6 out of 9, indicating neutral financial health. 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 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Are Copt Defense Properties's earnings high quality?

Copt Defense Properties (CDP) has an earnings quality ratio of 2.30x, 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.