8-K Announcements
6Apr 27, 2026·SEC
Feb 5, 2026·SEC
Feb 4, 2026·SEC
COPT Defense Properties (CDP) fundamental analysis — strengths, weaknesses & financial health based on data analysis
* These insights are generated automatically based on available financial data. Please conduct your own research before making investment decisions.
COPT Defense Properties (CDP) stock price & volume — 10-year historical chart
COPT Defense Properties (CDP) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR
COPT Defense Properties (CDP) EPS & revenue vs analyst estimates — last 4 quarters
| Quarter | Date | EPS (Act vs Est) | Revenue (Act vs Est) |
|---|---|---|---|
| Q2 2026Latest | Apr 27, 2026 | $0.34vs $0.33+2.8% | $193Mvs $185M+4.3% |
| Q1 2026 | Feb 5, 2026 | $0.70vs $0.33+112.1% | $185Mvs $180M+2.8% |
| Q4 2025 | Oct 30, 2025 | $0.69vs $0.68+1.5% | $189Mvs $189M+0.0% |
| Q3 2025 | Jul 28, 2025 | $0.68vs $0.67+1.5% | $190Mvs $188M+0.8% |
COPT Defense Properties (CDP) competitors in Single-Tenant and Government Office REITs — business model, growth, and fundamentals comparison
COPT Defense Properties (CDP) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.
COPT Defense Properties (CDP) annual income statement — 10-year revenue, gross profit & net income history
| Line item | Dec'17 | Dec'18 | Dec'19 | Dec'20 | Dec'21 | Dec'22 | Dec'23 | Dec'24 | Dec'25 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | 612.77M | 578.11M | 611.82M | 584.18M | 664.45M | 739.03M | 684.98M | 753.27M | 763.92M | 776.7M |
| Revenue Growth % | 6.65% | -5.66% | 5.83% | -4.52% | 13.74% | 11.22% | -7.31% | 9.97% | 1.41% | 3.86% |
| Property Operating Expenses | 422.99M | 394.59M | 420.42M | 258.41M | 454.97M | 518.62M | 453.75M | 492.91M | 646.07M | 528.86M |
| Net Operating Income (NOI) | 189.79M▲ 0% | 183.52M▼ 3.3% | 191.4M▲ 4.3% | 325.77M▲ 70.2% | 209.47M▼ 35.7% | 220.41M▲ 5.2% | 231.23M▲ 4.9% | 260.36M▲ 12.6% | 117.85M▼ 54.7% | 247.84M▲ 0% |
| NOI Margin % | 30.97% | 31.75% | 31.28% | 55.77% | 31.53% | 29.82% | 33.76% | 34.56% | 15.43% | 31.91% |
| Operating Expenses | 37.05M | 34.74M | 39.97M | 35.81M | 40.77M | 38.99M | 42.77M | 47.04M | -112.52M | 13.68M |
| G&A Expenses | 37.05M | 34.74M | 39.64M | 37.47M | 40.77M | 38.99M | 42.77M | 47.04M | 32.78M | 38.82M |
| EBITDA | 270.73M | 283.59M | 290.33M | 429.99M | 319.34M | 325.01M | 337.49M | 369.34M | 392.19M | 399.32M |
| EBITDA Margin % | 44.18% | 49.05% | 47.45% | 73.61% | 48.06% | 43.98% | 49.27% | 49.03% | 51.34% | 51.41% |
| Depreciation & Amortization | 136.5M | 139.06M | 138.9M | 140.03M | 150.64M | 143.59M | 149.03M | 156.01M | 161.83M | 165.15M |
| D&A / Revenue % | 22.28% | 24.05% | 22.7% | 23.97% | 22.67% | 19.43% | 21.76% | 20.71% | 21.18% | 21.26% |
| Operating Income | 134.23M▲ 0% | 144.53M▲ 7.7% | 151.43M▲ 4.8% | 289.96M▲ 91.5% | 168.7M▼ 41.8% | 181.42M▲ 7.5% | 188.46M▲ 3.9% | 213.32M▲ 13.2% | 230.37M▲ 8.0% | 234.16M▲ 0% |
| Operating Margin % | 21.9% | 25% | 24.75% | 49.63% | 25.39% | 24.55% | 27.51% | 28.32% | 30.16% | 30.15% |
| Interest Expense | 76.98M | 75.39M | 71.05M | 67.94M | 65.4M | 61.17M | 72.46M | 83.77M | 88.15M | 4M |
| Interest Coverage | 1.99x | 2.04x | 3.75x | 2.41x | 2.20x | 3.45x | 0.02x | 2.55x | 2.80x | - |
| Non-Operating Income | -17.18M | -9.14M | -114.76M | 126.5M | 24.94M | -29.45M | 187.18M | 0 | -16.77M | -13.52M |
| Pretax Income | 76.04M▲ 0% | 78.28M▲ 2.9% | 195.14M▲ 149.3% | 100.95M▼ 48.3% | 78.36M▼ 22.4% | 149.7M▲ 91.0% | -73.76M▼ 149.3% | 144.23M▲ 295.5% | 160.48M▲ 11.3% | 167.4M▲ 0% |
| Pretax Margin % | 12.41% | 13.54% | 31.89% | 17.28% | 11.79% | 20.26% | -10.77% | 19.15% | 21.01% | 21.55% |
| Income Tax | 1.1M | 147.69M | -217K | 353K | 145K | 447K | 588K | 288K | 947K | 968K |
| Effective Tax Rate % | 1.44% | 188.67% | -0.11% | 0.35% | 0.19% | 0.3% | -0.8% | 0.2% | 0.59% | 0.58% |
| Net Income | 68.75M▲ 0% | 72.3M▲ 5.2% | 191.69M▲ 165.1% | 97.37M▼ 49.2% | 76.54M▼ 21.4% | 173.03M▲ 126.1% | -73.47M▼ 142.5% | 138.93M▲ 289.1% | 152.31M▲ 9.6% | 156.13M▲ 0% |
| Net Margin % | 11.22% | 12.51% | 31.33% | 16.67% | 11.52% | 23.41% | -10.73% | 18.44% | 19.94% | 20.1% |
| Net Income Growth % | 128.75% | 5.17% | 165.13% | -49.2% | -21.39% | 126.06% | -142.46% | 289.1% | 9.64% | 10.68% |
| Funds From Operations (FFO) | 205.25M▲ 0% | 211.36M▲ 3.0% | 330.6M▲ 56.4% | 237.41M▼ 28.2% | 227.19M▼ 4.3% | 316.62M▲ 39.4% | 75.56M▼ 76.1% | 294.94M▲ 290.4% | 314.14M▲ 6.5% | 321.28M▲ 0% |
| FFO Margin % | 33.49% | 36.56% | 54.03% | 40.64% | 34.19% | 42.84% | 11.03% | 39.16% | 41.12% | 41.36% |
| FFO Growth % | 24.45% | 2.98% | 56.41% | -28.19% | -4.3% | 39.37% | -76.14% | 290.36% | 6.51% | 32.89% |
| FFO per Share | 2.06 | 2.03 | 2.96 | 2.12 | 2.02 | 2.81 | 0.67 | 2.61 | 2.77 | 2.83 |
| FFO Payout Ratio % | 53.19% | 54.07% | 37.1% | 51.96% | 54.37% | 39.05% | 168.32% | 0% | 43.48% | 32.16% |
| EPS (Diluted) | 0.69▲ 0% | 0.69▲ 0.0% | 1.71▲ 147.8% | 0.87▼ 49.1% | 0.68▼ 21.8% | 1.53▲ 125.0% | -0.65▼ 142.5% | 1.23▲ 289.2% | 1.34▲ 8.9% | 1.37▲ 0% |
| EPS Growth % | 2369.74% | 0% | 147.83% | -49.12% | -21.84% | 125% | -142.48% | 289.23% | 8.94% | 10.4% |
| EPS (Basic) | 0.69 | 0.66 | 1.72 | 0.87 | 0.68 | 1.54 | -0.65 | 1.23 | 1.35 | - |
| Diluted Shares Outstanding | 99.42M | 104.13M | 111.62M | 112.08M | 112.42M | 112.62M | 112.18M | 112.9M | 113.3M | 113.58M |
COPT Defense Properties (CDP) balance sheet — assets, liabilities & shareholders' equity
| Line item | Dec'17 | Dec'18 | Dec'19 | Dec'20 | Dec'21 | Dec'22 | Dec'23 | Dec'24 | Dec'25 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|
| Total Assets | 3.6B | 3.66B | 3.85B | 4.08B | 4.26B | 4.26B | 4.25B | 4.25B | 4.7B | 4.46B |
| Asset Growth % | -4.91% | 1.69% | 5.43% | 5.77% | 4.55% | -0.12% | -0.24% | 0.17% | 10.52% | 19.8% |
| Real Estate & Other Assets | -338.69M | -296.78M | 72.03M | 70.88M | 3.68B | 3.66B | 3.64B | 3.76B | 3.93B | 0 |
| PP&E (Net) | 5.26M | 8.63M | 3.42B | 3.45B | 50.2M | 37.02M | 41.3M | 55.76M | 50.38M | 0 |
| Investment Securities | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 0 |
| Total Current Assets | 284.7M | 240.28M | 279.35M | 498.34M | 465.89M | 523.3M | 529.55M | 393.26M | 684.16M | 0 |
| Cash & Equivalents | 12.26M | 8.07M | 14.73M | 18.37M | 13.26M | 12.34M | 167.82M | 38.28M | 274.99M | 0 |
| Receivables | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 0 |
| Other Current Assets | 44.8M | 3.88M | 95.75M | 293.93M | 196.75M | 232.19M | 84.59M | 81.63M | 103.22M | 0 |
| Intangible Assets | 59.09M | 43.47M | 27.39M | 19.25M | 14.57M | 9.96M | 6.85M | 10.7M | 0 | 0 |
| Total Liabilities | 2.1B | 2B | 2.11B | 2.36B | 2.58B | 2.51B | 2.7B | 2.69B | 3.11B | 2.87B |
| Total Debt | 1.84B | 1.82B | 1.87B | 2.13B | 2.3B | 2.26B | 2.45B | 2.44B | 2.81B | 0 |
| Net Debt | 56.04M | 22.72M | 1.86B | 2.11B | 2.29B | 2.25B | 2.28B | 2.4B | 2.54B | 0 |
| Long-Term Debt | 1.7B | 1.61B | 1.65B | 1.94B | 2.2B | 2.02B | 2.34B | 2.32B | 2.62B | 0 |
| Short-Term Borrowings | 126M | 213M | 177M | 143M | 76M | 211M | 75M | 75M | 150M | 0 |
| Capital Lease Obligations | 15.85M | 0 | 17.32M | 30.75M | 29.34M | 28.76M | 33.93M | 49.24M | 45.01M | 139.3M |
| Total Current Liabilities | 300.39M | 375.92M | 397.99M | 361.2M | 335.1M | 441.42M | 305.42M | 313.25M | 418.03M | 0 |
| Accounts Payable | 108.14M | 92.86M | 148.75M | 142.72M | 186.2M | 158M | 133.31M | 126.03M | 147.2M | 0 |
| Deferred Revenue | 37.33M | 39.2M | 40.98M | 44.26M | 41.6M | 41.02M | 64.46M | 78.31M | 85.63M | 0 |
| Other Liabilities | 59.55M | -14.21M | 2.71M | -11.41M | 17.73M | 18.56M | 19M | 14.38M | 33.24M | 0 |
| Total Equity | 1.49B▲ 0% | 1.65B▲ 10.9% | 1.75B▲ 5.8% | 1.72B▼ 1.7% | 1.68B▼ 2.0% | 1.75B▲ 3.8% | 1.55B▼ 11.5% | 1.56B▲ 0.9% | 1.59B▲ 1.7% | 1.59B▲ 0% |
| Equity Growth % | -7.8% | 10.85% | 5.77% | -1.69% | -2.05% | 3.79% | -11.47% | 0.86% | 1.74% | 6.22% |
| Shareholders Equity | 1.4B | 1.59B | 1.68B | 1.66B | 1.62B | 1.68B | 1.48B | 1.49B | 1.51B | 1.57B |
| Minority Interest | 1.83B | 1.82B | 69.72M | 58.11M | 61.23M | 65.94M | 63.42M | 67.48M | 72.9M | 25.13M |
| Common Stock | 1.01M | 1.1M | 1.12M | 1.12M | 1.12M | 1.12M | 1.13M | 1.13M | 1.13M | 0 |
| Additional Paid-in Capital | 2.2B | 2.43B | 2.48B | 2.48B | 2.48B | 2.49B | 2.49B | 2.49B | 2.5B | 0 |
| Retained Earnings | -802.09M | -846.81M | 0 | 0 | -856.86M | -807.51M | -1.01B | -1B | -988.96M | 0 |
| Preferred Stock | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Return on Assets (ROA) | 1.86% | 1.99% | 5.1% | 2.46% | 1.84% | 4.06% | -1.73% | 3.27% | 3.4% | 3.51% |
| Return on Equity (ROE) | 4.42% | 4.6% | 11.27% | 5.62% | 4.5% | 10.08% | -4.46% | 8.94% | 9.68% | 9.87% |
| Debt / Assets | 51.3% | 49.89% | 48.64% | 52.18% | 54% | 53.1% | 57.69% | 57.38% | 59.82% | 0% |
| Debt / Equity | 1.24x | 1.10x | 1.07x | 1.24x | 1.37x | 1.29x | 1.58x | 1.56x | 1.77x | 1.77x |
| Net Debt / EBITDA | 0.21x | 0.08x | 6.41x | 4.90x | 7.17x | 6.92x | 6.76x | 6.51x | 6.47x | 6.47x |
| Book Value per Share | 15.00 | 15.88 | 15.67 | 15.34 | 14.98 | 15.52 | 13.79 | 13.82 | 14.01 | 14.01 |
COPT Defense Properties (CDP) cash flow — operating, investing & free cash flow history
| Line item | Dec'17 | Dec'18 | Dec'19 | Dec'20 | Dec'21 | Dec'22 | Dec'23 | Dec'24 | Dec'25 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from Operations | 230.12M | 180.48M | 228.56M | 238.42M | 249.15M | 265.82M | 276.27M | 330.95M | 334.93M | 334.93M |
| Operating CF Growth % | -1.19% | -21.57% | 26.64% | 4.32% | 4.5% | 6.69% | 3.93% | 19.79% | 1.2% | -83.64% |
| Operating CF / Revenue % | 37.55% | 31.22% | 37.36% | 40.81% | 37.5% | 35.97% | 40.33% | 43.94% | 43.84% | 43.12% |
| Net Income | 74.94M | 78.64M | 200M | 102.88M | 81.58M | 178.82M | -73.47M | 138.93M | 152.31M | 156.13M |
| Depreciation & Amortization | 134.23M | 137.12M | 138.9M | 140.03M | 150.64M | 143.59M | 151.4M | 156.01M | 161.9M | 165.3M |
| Stock-Based Compensation | 5.62M | 6.38M | 6.71M | 6.5M | 7.98M | 8.79M | 8.54M | 10.44M | 0 | -1.7M |
| Other Non-Cash Items | 2.67M | -3.93M | -6.47M | -3.34M | -18.91M | -4.48M | 219.97M | 22.69M | 47.17M | -39.73M |
| Working Capital Changes | 10.4M | -39.67M | -5.69M | -7.64M | -7.18M | -13.7M | -7.98M | 2.88M | -26.45M | -22.44M |
| Cash from Investing | -89.36M | -232.92M | -138.01M | -325.79M | -202.97M | -83.46M | -169.62M | -291.01M | -314.74M | -245.2M |
| Acquisitions (Net) | 0 | 0 | 201.5M | 59.84M | 160.69M | 21.79M | 0 | 0 | 0 | 0 |
| Purchase of Investments | -200.5M | -160.09M | -405.62M | 0 | -273.79M | -302.86M | 0 | 0 | -218.56M | -37.6M |
| Sale of Investments | 180.84M | 0 | 108.13M | 0 | 143.12M | 281.07M | 0 | 0 | 5M | 0 |
| Other Investing | 1.17M | -4.52M | -17.36M | -352.88M | -202.97M | -47.08M | -149.12M | -259.67M | -1.47M | -183.47M |
| Cash from Financing | -338.55M | 49.55M | -84.36M | 91.27M | -50.9M | -183.18M | 46.26M | -169.67M | 216.54M | 232.72M |
| Dividends Paid | -118.48M | -114.29M | -122.66M | -123.37M | -123.53M | -123.64M | -127.18M | -131.84M | -136.6M | -103.32M |
| Common Dividends | -109.17M | -114.29M | -122.66M | -123.37M | -123.53M | -123.64M | -127.18M | -1.18K | -136.6M | -103.32M |
| Debt Issuance (Net) | -1000K | -1000K | 1000K | 1000K | 1000K | -1000K | 1000K | -1000K | 1000K | 3M |
| Share Repurchases | -1.97M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Financing | -10.48M | -19.01M | -11.35M | -21.57M | -10.18M | -9.69M | -7.98M | -7.85M | -8.01M | -5.57M |
| Net Change in Cash | -197.6M▲ 0% | -4.2M▲ 97.9% | 6.18M▲ 247.3% | 3.9M▼ 36.8% | -4.72M▼ 220.9% | -807K▲ 82.9% | 152.91M▲ 19048.6% | -129.73M▼ 184.8% | 236.73M▲ 282.5% | 251.38M▲ 0% |
| Exchange Rate Effect | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 992K |
| Cash at Beginning | 209.86M | 12.26M | 11.95M | 18.13M | 22.03M | 17.32M | 16.51M | 169.42M | 39.7M | 0 |
| Cash at End | 12.26M | 8.07M | 18.13M | 22.03M | 17.32M | 16.51M | 169.42M | 39.7M | 276.43M | 0 |
| Free Cash Flow | 159.25M▲ 0% | 112.18M▼ 29.6% | 203.9M▲ 81.8% | 205.67M▲ 0.9% | 219.12M▲ 6.5% | 229.45M▲ 4.7% | 255.77M▲ 11.5% | 299.61M▲ 17.1% | 253.68M▼ 15.3% | 215.18M▲ 0% |
| FCF Growth % | -1.69% | -29.56% | 81.77% | 0.87% | 6.54% | 4.71% | 11.47% | 17.14% | -15.33% | -21.11% |
| FCF / Revenue % | 25.99% | 19.4% | 33.33% | 35.21% | 32.98% | 31.05% | 37.34% | 39.78% | 33.21% | 27.7% |
COPT Defense Properties (CDP) financial ratios — P/E, ROE, debt and 30+ core market and balance-sheet ratios
| Metric | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|
| FFO per Share | 2.06 | 2.03 | 2.96 | 2.12 | 2.02 | 2.81 | 0.67 | 2.61 | 2.77 | 2.83 |
| FFO Payout Ratio | 53.19% | 54.07% | 37.1% | 51.96% | 54.37% | 39.05% | 168.32% | 0% | 43.48% | 32.16% |
| NOI Margin | 30.97% | 31.75% | 31.28% | 55.77% | 31.53% | 29.82% | 33.76% | 34.56% | 15.43% | 31.91% |
| Net Debt / EBITDA | 0.21x | 0.08x | 6.41x | 4.90x | 7.17x | 6.92x | 6.76x | 6.51x | 6.47x | 6.47x |
| Debt / Assets | 51.3% | 49.89% | 48.64% | 52.18% | 54% | 53.1% | 57.69% | 57.38% | 59.82% | 0% |
| Interest Coverage | 1.99x | 2.04x | 3.75x | 2.41x | 2.20x | 3.45x | 0.02x | 2.55x | 2.80x | - |
| Book Value / Share | 15 | 15.88 | 15.67 | 15.34 | 14.98 | 15.52 | 13.79 | 13.82 | 14.01 | 14.01 |
| Revenue Growth | 6.65% | -5.66% | 5.83% | -4.52% | 13.74% | 11.22% | -7.31% | 9.97% | 1.41% | 3.86% |
COPT Defense Properties (CDP) SEC filings — annual & quarterly reports (10-K, 10-Q)
Apr 27, 2026·SEC
Feb 5, 2026·SEC
Feb 4, 2026·SEC
COPT Defense Properties (CDP) stock FAQ — growth, dividends, profitability & financials explained
COPT Defense Properties (CDP) reported $776.7M in revenue for fiscal year 2025. This represents a 30968% increase from $2.5M in 1996.
COPT Defense Properties (CDP) grew revenue by 1.4% over the past year. Growth has been modest.
Yes, COPT Defense Properties (CDP) is profitable, generating $156.1M in net income for fiscal year 2025 (19.9% net margin).
Yes, COPT Defense Properties (CDP) pays a dividend with a yield of 3.80%. This makes it attractive for income-focused investors.
COPT Defense Properties (CDP) has a return on equity (ROE) of 9.7%. This is below average, suggesting room for improvement.
COPT Defense Properties (CDP) generated Funds From Operations (FFO) of $321.3M in the trailing twelve months. FFO is the primary profitability metric for REITs.
COPT Defense Properties (CDP) offers a 3.80% dividend yield, which is attractive for income investors. REITs are required to distribute at least 90% of taxable income to shareholders.
COPT Defense Properties (CDP) financial analysis — history, returns, DCA and operating performance tools
Historical returns with dividends reinvested
Dollar cost averaging vs lump sum
Yield, growth, payout safety & DRIP
EPS trends, net income & profitability
Long-term charts & historical price data
Sales growth patterns & revenue breakdown
30 years of market, efficiency and balance-sheet ratios
DCF intrinsic value, peer multiples & estimates