Last 48 quarters of trend data · Real Estate · REIT - Office
Quarterly valuation ratios — annualised for comparability. YoY Δ shows same-quarter-prior-year change.
COPT Defense Properties's quarterly P/E stands at 22.5x, up 2.3% year-over-year. EV/EBITDA has compressed 41.4% YoY to 8.6x, reflecting multiple compression or accelerating EBITDA.
| Metric | TTM | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| P/E Ratio → | 23.74 | 22.50 | 21.06 | 19.64 | 20.28 | 21.99 | 24.96 | 23.70 | 20.19 | 20.84 | 21.36 | — | 21.99 |
| — | +2.3% | -15.6% | -17.1% | +0.5% | +5.5% | +16.9% | — | -8.2% | +146.1% | +48.2% | — | -2.6% | |
| P/S Ratio | 4.72 | 4.33 | 4.00 | 4.36 | 4.11 | 4.10 | 4.80 | 4.53 | 3.77 | 3.52 | 4.02 | 3.97 | 3.95 |
| — | +5.6% | -16.6% | -3.8% | +9.1% | +16.4% | +19.5% | +14.2% | -4.7% | -11.6% | -3.5% | +10.9% | -0.2% | |
| P/B Ratio | 2.27 | 2.18 | 1.99 | 2.08 | 1.99 | 1.97 | 2.26 | 2.20 | 1.82 | 1.76 | 1.87 | 1.73 | 1.49 |
| — | +10.6% | -11.8% | -5.5% | +9.5% | +12.2% | +20.9% | +27.6% | +22.2% | +18.2% | +11.6% | +14.0% | -13.1% | |
| P/FCF | 14.22 | — | 12.95 | 11.80 | 9.23 | 11.83 | 9.53 | 18.30 | 10.30 | 14.40 | 12.14 | 10.53 | 8.40 |
| — | — | +35.8% | -35.5% | -10.4% | -17.9% | -21.5% | +73.7% | +22.7% | +14.9% | +18.0% | -33.5% | -22.3% | |
| EV / EBITDA | 15.67 | 8.60 | 14.15 | 14.62 | 14.07 | 14.68 | 15.80 | 15.67 | 13.86 | 14.23 | 14.92 | 10.01 | 14.55 |
| — | -41.4% | -10.5% | -6.7% | +1.6% | +3.2% | +5.9% | +56.6% | -4.8% | +41.8% | +38.4% | -3.7% | +35.3% | |
| EV / EBIT | 26.67 | 14.90 | 22.21 | 21.93 | 23.41 | 25.27 | 27.17 | 26.69 | 23.77 | 25.05 | 25.89 | 26.16 | 26.43 |
| — | -41.0% | -18.2% | -17.8% | -1.5% | +0.9% | +4.9% | +2.0% | -10.1% | -5.6% | -8.9% | +0.1% | -1.6% |
Quarterly margins and returns. Watch for margin compression across consecutive quarters.
COPT Defense Properties's operating margin was 29.1% in Q1 2026, down 0.5 pp QoQ and up 0.0 pp YoY. This marks the 4th consecutive quarter of margin compression, signaling a persistent pressure on profitability that investors should monitor. The trailing four-quarter average of 30.2% exceeds the current quarter, suggesting the latest result may reflect seasonal weakness or a one-off headwind. Gross margin expanded 67.2% YoY, indicating pricing power or improving input costs.
| Metric | TTM | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 15.4% | 59.4% | 14.1% | 15.5% | 37.7% | 35.5% | 36.1% | 34.8% | 35.3% | 32.2% | 34.1% | 56.5% | 33.4% |
| — | +67.2% | -60.8% | -55.6% | +6.7% | +10.5% | +5.8% | -38.4% | +5.9% | -42.0% | -36.1% | +12.8% | -31.5% | |
| Operating Margin | 30.2% | 29.1% | 29.6% | 30.6% | 31.4% | 29.1% | 29.6% | 28.8% | 28.9% | 26.1% | 27.8% | 50.2% | 27.2% |
| — | +0.0% | -0.0% | +6.4% | +8.7% | +11.4% | +6.6% | -42.7% | +6.1% | -46.9% | -40.9% | +11.8% | -37.9% | |
| Net Margin | 19.9% | 19.2% | 19.0% | 22.1% | 20.2% | 18.5% | 19.1% | 19.1% | 18.7% | 16.9% | 18.7% | -128.3% | 17.9% |
| — | +3.9% | -0.8% | +15.9% | +7.7% | +9.6% | +2.3% | +114.9% | +4.7% | -64.1% | -34.9% | -858.6% | +3.1% |
| Metric | TTM | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 9.7% | 2.4% | 2.4% | 2.7% | 2.4% | 2.2% | 2.3% | 2.3% | 2.3% | 2.1% | 2.2% | -12.9% | 1.7% |
| — | +9.0% | +5.0% | +14.2% | +8.2% | +5.6% | +3.7% | +118.0% | +34.3% | -52.6% | -25.2% | -820.5% | -10.3% | |
| ROA | 3.4% | 0.8% | 0.8% | 1.0% | 0.9% | 0.8% | 0.8% | 0.9% | 0.8% | 0.8% | 0.8% | -5.1% | 0.7% |
| — | +3.0% | +0.1% | +13.2% | +8.1% | +6.2% | +4.3% | +116.8% | +15.6% | -58.8% | -33.0% | -796.6% | -7.5% | |
| ROIC | 4.3% | 1.5% | 1.1% | 1.1% | 1.1% | 1.0% | 1.0% | 1.0% | 1.0% | 1.0% | 1.0% | 1.6% | 0.9% |
| — | +48.7% | +4.1% | +2.7% | +6.3% | +4.8% | +4.9% | -35.9% | +20.2% | -37.0% | -36.4% | +3.4% | -45.3% |
Quarterly solvency trend — watch for debt spikes or covenant pressure.
| Metric | TTM | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 1.77 | — | 1.77 | 1.58 | 1.58 | 1.58 | 1.56 | 1.56 | 1.56 | 1.58 | 1.58 | 1.58 | 1.23 |
| — | — | +13.3% | +1.1% | +1.5% | -0.4% | -1.2% | -1.5% | +27.0% | +31.5% | +22.4% | +18.8% | +0.6% | |
| Debt / EBITDA | 7.17 | — | 27.95 | 25.29 | 25.06 | 26.19 | 26.05 | 26.13 | 26.10 | 27.61 | 28.28 | 19.94 | 26.41 |
| — | — | +7.3% | -3.2% | -4.0% | -5.1% | -7.9% | +31.0% | -1.2% | +53.4% | +50.0% | +2.3% | +46.8% | |
| Current Ratio | 1.64 | — | 1.64 | 1.14 | 1.10 | 1.22 | 1.26 | 1.32 | 1.55 | 1.72 | 1.73 | 1.87 | 0.95 |
| — | — | +30.4% | -13.9% | -28.9% | -28.7% | -27.6% | -29.3% | +62.7% | +53.8% | +46.3% | +196.7% | +46.4% | |
| Quick Ratio | 1.64 | — | 1.64 | 1.14 | 1.10 | 1.22 | 1.26 | 1.32 | 1.55 | 1.72 | 1.74 | 1.87 | 0.95 |
| — | — | +30.4% | -13.9% | -28.9% | -28.7% | -27.9% | -29.3% | +62.7% | +53.8% | +47.0% | +196.7% | +46.4% | |
| Interest Coverage | 2.80 | 2.43 | 2.64 | 3.14 | 2.85 | 2.66 | 2.48 | 2.67 | 2.63 | 2.43 | 2.31 | 2.64 | 2.79 |
| — | — | — | — | — | — | — | — | — | — | — | — | — |
Includes 30+ ratios · 48 years · Updated daily
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COPT Defense Properties's current P/E is 23.7x. The average P/E over the last 4 quarters is 20.9x. Quarterly P/E ratios can vary due to seasonal revenue patterns and one-time charges.
COPT Defense Properties's current operating margin is 30.2%. Margins have been compressing over recent quarters. Quarterly margins are particularly useful for identifying trend inflections that annual data smooths over.
Quarterly financial ratios reveal short-term trend shifts — margin compression, debt spikes, or valuation re-ratings — that annual figures smooth over. They're essential for active investors tracking COPT Defense Properties's business trajectory between earnings reports.