CBL & Associates Properties, Inc. (CBL) Revenue History
Annual and quarterly revenue from 2004 to present
CBL Revenue Over Time (2004–2025)
CBL Revenue Growth History
8 of 21 years with positive growth- FY2004 revenue growth
- N/A
- FY2005 revenue growth
- +16.1%
- FY2006 revenue growth
- +10.4%
- FY2007 revenue growth
- +3.8%
- FY2008 revenue growth
- +9.4%
- FY2009 revenue growth
- -4.3%
- FY2010 revenue growth
- -1.6%
- FY2011 revenue growth
- -0.4%
- FY2012 revenue growth
- +1.2%
- FY2013 revenue growth
- -2.2%
- FY2014 revenue growth
- +0.5%
- FY2015 revenue growth
- -0.5%
- FY2016 revenue growth
- -2.5%
- FY2017 revenue growth
- -9.8%
- FY2018 revenue growth
- -7.4%
- FY2019 revenue growth
- -10.5%
- FY2020 revenue growth
- -25.1%
- FY2021 revenue growth
- +0.2%
- FY2022 revenue growth
- -2.4%
- FY2023 revenue growth
- -4.9%
- FY2024 revenue growth
- -3.7%
- FY2025 revenue growth
- +12.2%
| Quarter | Revenue | YoY |
|---|---|---|
| Q1 2026 | $146.0M | +3.0% |
| Q4 2025 | $156.4M | +18.8% |
| Q3 2025 | $139.3M | +11.3% |
| Q2 2025 | $140.9M | +8.7% |
| Q1 2025 | $141.8M | +9.8% |
| Q4 2024 | $131.7M | -5.7% |
| Q3 2024 | $125.1M | -3.3% |
| Q2 2024 | $129.7M | -0.2% |
Multi-year avg. share of annual revenue by fiscal quarter
Revenue Breakdown (FY 2025)
CBL's revenue distribution by segment and geography for fiscal year 2025
By Product/Segment
By Geography
CBL Revenue Analysis (2004–2025)
Current Revenue & Growth
As of June 23, 2026, CBL & Associates Properties, Inc. (CBL) generated trailing twelve-month (TTM) revenue of $582.6 million, reflecting modest growth of +3.0% year-over-year. The most recent quarter (Q1 2026) recorded $146.0 million in revenue, down 6.7% sequentially.
Historical Growth Trajectory
CBL's 5-year compound annual growth rate (CAGR) stands at +0.1%, indicating moderate growth over time. The 3-year CAGR of +0.9% exceeds the 5-year average, indicating an acceleration in the most recent period. CBL & Associates Properties, Inc.'s highest annual revenue of $1.14 billion was recorded in 2008.
Revenue by Segment
CBL's revenue is primarily driven by Operating Expense Reimbursements (40%), Management Developmentand Leasing Fees (26%), and Marketing (18%). The diversified mix across segments reduces dependence on any single product line, which can support more resilient revenue in downturns.
Peer Comparison
Compared to Real Estate sector peers — including MAC (+5.2% YoY), SKT (+10.5% YoY), and SPG (+10.9% YoY) — CBL has underperformed the peer group in revenue growth. Compare CBL vs MAC →
CBL Revenue vs Peers
Revenue metrics vs comparable public companies
| Company | TTM Revenue | YoY Growth | 5Y CAGR | Op. Margin | Compare |
|---|---|---|---|---|---|
| CBLCurrent | $583M | +3.0% | +0.1% | 24.2% | |
 MAC | $1.0B | +5.2% | +5.3% | 16.5% | |
 SKT | $582M | +10.5% | +8.3% | 30.2% | |
 SPG | $6.4B | +10.9% | +6.7% | 49.9% | |
 KIM | $2.1B | +4.4% | +15.1% | 35.2% | |
 REG | $1.6B | +12.0% | +8.2% | 37.0% |
CBL Historical Revenue Data (2004–2025)
| Year | Revenue | YoY % | Gross Profit | Gross Margin | Op. Income | Op. Margin |
|---|---|---|---|---|---|---|
| 2025 | $578.4M | +12.2% | $43.7M | 7.6% | $139.8M | 24.2% |
| 2024 | $515.6M | -3.7% | $59.2M | 11.5% | $132.3M | 25.7% |
| 2023 | $535.3M | -4.9% | $-32,863,000 | -6.1% | $93.4M | 17.4% |
| 2022 | $563.0M | -2.4% | $-141,339,000 | -25.1% | $46.9M | 8.3% |
| 2021 | $576.9M | +0.2% | $-27,727,000 | -4.8% | $127.3M | 22.1% |
| 2020 | $575.9M | -25.1% | $-42,078,000 | -7.3% | $95.6M | 16.6% |
| 2019 | $768.7M | -10.5% | $22.6M | 2.9% | $216.1M | 28.1% |
| 2018 | $858.6M | -7.4% | $35.1M | 4.1% | $258.3M | 30.1% |
| 2017 | $927.3M | -9.8% | $68.5M | 7.4% | $309.1M | 33.3% |
| 2016 | $1.03B | -2.5% | $161.4M | 15.7% | $370.4M | 36.0% |
| 2015 | $1.06B | -0.5% | $173.5M | 16.4% | $410.5M | 38.9% |
| 2014 | $1.06B | +0.5% | $184.3M | 17.4% | $425.3M | 40.1% |
| 2013 | $1.06B | -2.2% | $195.0M | 18.5% | $173.3M | 16.4% |
| 2012 | $1.08B | +1.2% | $256.3M | 23.7% | $206.5M | 19.1% |
| 2011 | $1.07B | -0.4% | $210.7M | 19.7% | $144.0M | 13.5% |
Intrinsic Valuation
DCF models, multiple analysis, and analyst estimates.
Historical Returns
22+ years return with dividends reinvested.
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Peer Comparison
Compare growth, multiples, and margins vs sector.
CBL — Frequently Asked Questions
Quick answers to the most common questions about buying CBL stock.
Is CBL's revenue growth accelerating or slowing?
CBL revenue growth is slowing. TTM revenue is $583M, up +3.0% year-over-year — below the 5-year CAGR of +0.1%. The deceleration suggests maturing end-markets or increased competition.
What is CBL's revenue history from 2004 to 2026?
CBL & Associates Properties, Inc. (CBL) revenue history spans 2004 to 2026. TTM revenue as of 2026 is $583M, growing at +3.0% YoY. The 5-year CAGR is +0.1%. Complete annual and quarterly revenue figures are available on this page, including gross profit, operating income, and margin trends.
What is CBL's long-term revenue growth rate (CAGR)?
CBL & Associates Properties, Inc.'s 5-year revenue CAGR of +0.1% reflects the variable nature of its business expansion. As of 2026, the current YoY growth rate of +3.0% is below this long-term average. CAGR is the most reliable measure of sustained revenue momentum for CBL.
Why does CBL's quarterly revenue fluctuate?
CBL quarterly revenue can fluctuate significantly between periods. A quarter-over-quarter (QoQ) change does not always indicate a trend; comparing the same quarter year-over-year (YoY) is a more reliable signal for underlying growth. CBL & Associates Properties, Inc.'s revenue data from 2004 to 2026 shows full historical quarterly detail on this page.
How is CBL's revenue distributed by segment?
CBL reports revenue broken down by product line and geographic region. The segment breakdown on this page shows which business units contribute the most to total revenue as of the latest fiscal year. Concentration in a single segment above 50% indicates category dependence, while a diversified mix signals more resilient revenue streams.
How does CBL's revenue compare to industry peers?
CBL & Associates Properties, Inc. (CBL) with TTM revenue of $583M and +3.0% YoY growth can be benchmarked against sector peers using the comparison table on this page. Revenue growth relative to peers indicates market share gains or losses. The peer section shows TTM revenue, YoY growth, and operating margin for direct comparisons.