COPT Defense Properties (CDP) quarterly income statement — complete revenue, gross profit & net income history
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 | Q2'23 | Q1'23 | Q4'22 | Q3'22 | Q2'22 | Q1'22 | Q4'21 | Q3'21 | Q2'21 |
|---|
| Revenue | 200.64M | 197.36M | 188.79M | 189.91M | 187.86M | 183.43M | 189.22M | 187.34M | 193.27M | 179.73M | 168.49M | 169.2M | 167.44M | 175.48M | 182.81M | 186.12M | 196.37M | 163.68M | 166.92M | 157.21M |
| Revenue Growth % | 6.8% | 7.59% | -0.23% | 1.37% | -2.8% | 2.06% | 12.31% | 10.73% | 15.43% | 2.42% | -7.83% | -9.09% | -14.73% | 7.21% | 9.52% | 18.39% | 27.19% | -0.21% | 7.85% | 8.59% |
| Property Operating Expenses | 81.44M | 169.5M | 159.57M | 118.36M | 121.1M | 117.3M | 123.31M | 121.18M | 131.1M | 118.48M | 73.28M | 112.75M | 74.62M | 81.92M | 91.22M | 95.42M | 108.83M | 112.74M | 113.62M | 104.73M |
| Net Operating Income (NOI) | 119.2M | 27.86M | 29.23M | 71.55M | 66.75M | 66.13M | 65.91M | 66.16M | 62.16M | 61.25M | 95.21M | 56.44M | 92.82M | 93.55M | 91.59M | 90.7M | 87.54M | 50.94M | 53.3M | 52.48M |
| NOI Margin % | 59.41% | 14.12% | 15.48% | 37.68% | 35.53% | 36.05% | 34.83% | 35.31% | 32.16% | 34.08% | 56.51% | 33.36% | 55.43% | 53.31% | 50.1% | 48.73% | 44.58% | 31.12% | 31.93% | 33.38% |
| Operating Expenses | 60.89M | -30.52M | -28.6M | 11.91M | 12.16M | 11.84M | 11.42M | 12.03M | 11.75M | 11.35M | 10.58M | 10.36M | 10.49M | 11.16M | 9.45M | 9.06M | 8.97M | 10.24M | 9.98M | 9.91M |
| G&A Expenses | 18.2M | 7.94M | 8.48M | 4.19M | 12.16M | 11.84M | 11.42M | 12.03M | 11.75M | 11.35M | 10.58M | 10.36M | 10.49M | 11.16M | 9.45M | 9.06M | 9.33M | 10.24M | 10.44M | 10.59M |
| EBITDA | 101M | 100.64M | 98.46M | 99.22M | 93.95M | 93.7M | 92.8M | 92.85M | 88.77M | 86.64M | 122.87M | 83.7M | 119.92M | 119.9M | 117.99M | 117.01M | 113.44M | 77.66M | 80.51M | 81.16M |
| EBITDA Margin % | 50.34% | 50.99% | 52.15% | 52.24% | 50.01% | 51.08% | 49.04% | 49.56% | 45.93% | 48.21% | 72.92% | 49.47% | 71.62% | 68.33% | 64.54% | 62.87% | 57.77% | 47.45% | 48.23% | 51.63% |
| Depreciation & Amortization | 42.69M | 42.26M | 40.63M | 39.57M | 39.36M | 39.41M | 38.31M | 38.73M | 38.35M | 36.73M | 38.23M | 37.62M | 37.6M | 37.51M | 35.85M | 35.36M | 34.87M | 36.97M | 37.2M | 38.6M |
| D&A / Revenue % | 21.27% | 21.41% | 21.52% | 20.84% | 20.95% | 21.48% | 20.24% | 20.67% | 19.84% | 20.44% | 22.69% | 22.23% | 22.45% | 21.38% | 19.61% | 19% | 17.76% | 22.59% | 22.29% | 24.55% |
| Operating Income | 58.32M | 58.38M | 57.83M | 59.64M | 54.6M | 54.29M | 54.49M | 54.13M | 50.41M | 49.91M | 84.63M | 46.08M | 82.33M | 82.39M | 82.14M | 81.64M | 78.57M | 40.69M | 43.31M | 42.56M |
| Operating Margin % | 29.07% | 29.58% | 30.63% | 31.41% | 29.06% | 29.59% | 28.8% | 28.89% | 26.09% | 27.77% | 50.23% | 27.24% | 49.17% | 46.95% | 44.93% | 43.87% | 40.01% | 24.86% | 25.95% | 27.08% |
| Interest Expense | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K |
| Interest Coverage | 2.43x | 2.64x | 3.14x | 2.85x | 2.66x | 2.48x | 2.67x | 2.63x | 2.43x | 2.31x | 2.64x | 2.79x | 2.76x | 2.70x | 3.10x | 3.33x | 3.07x | 1.68x | 2.81x | 3.71x |
| Non-Operating Income | 0 | -5.73M | -7.79M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 37.62M | 0 | 36.99M | 36.91M | 35.25M | 34.81M | 34.26M | 15.8M | -799K | -16.62M |
| Pretax Income | 40.26M | 42.5M | 44.36M | 40.28M | 36.33M | 36.44M | 37.53M | 36.42M | 33.84M | 34.94M | -221.06M | 31.83M | 80.52M | 52.31M | 32.38M | 33.6M | 31.4M | 11.65M | 28.39M | 43.24M |
| Pretax Margin % | 20.07% | 21.53% | 23.49% | 21.21% | 19.34% | 19.87% | 19.83% | 19.44% | 17.51% | 19.44% | -131.2% | 18.81% | 48.09% | 29.81% | 17.71% | 18.05% | 15.99% | 7.12% | 17.01% | 27.51% |
| Income Tax | 124K | 115K | 612K | 117K | 103K | -24K | 130K | 14K | 168K | 121K | 152K | 190K | 125K | 223K | 67K | 4K | 153K | 42K | 47K | 24K |
| Effective Tax Rate % | 0.31% | 0.27% | 1.38% | 0.29% | 0.28% | -0.07% | 0.35% | 0.04% | 0.5% | 0.35% | -0.07% | 0.6% | 0.16% | 0.43% | 0.21% | 0.01% | 0.49% | 0.36% | 0.17% | 0.06% |
| Net Income | 38.56M | 37.5M | 41.73M | 38.35M | 34.74M | 35.12M | 36.09M | 35.11M | 32.61M | 33.65M | -216.19M | 30.29M | 78.78M | 50.48M | 30.92M | 32.31M | 59.32M | 13.71M | 27.1M | 42.4M |
| Net Margin % | 19.22% | 19% | 22.1% | 20.19% | 18.49% | 19.15% | 19.07% | 18.74% | 16.87% | 18.72% | -128.31% | 17.9% | 47.05% | 28.77% | 16.91% | 17.36% | 30.21% | 8.38% | 16.24% | 26.97% |
| Net Income Growth % | 10.98% | 6.78% | 15.64% | 9.21% | 6.54% | 4.37% | 116.69% | 15.94% | -58.61% | -33.33% | -799.16% | -6.26% | 32.81% | 268.24% | 14.1% | -23.8% | 989.47% | -83.21% | 185.1% | 80.45% |
| Funds From Operations (FFO) | 81.24M | 79.76M | 82.36M | 77.92M | 74.1M | 74.53M | 74.39M | 73.84M | 70.96M | 70.39M | -177.95M | 67.91M | 116.38M | 87.99M | 66.77M | 67.67M | 94.19M | 50.68M | 64.3M | 81M |
| FFO Margin % | 40.49% | 40.42% | 43.62% | 41.03% | 39.44% | 40.63% | 39.31% | 39.41% | 36.72% | 39.16% | -105.62% | 40.13% | 69.5% | 50.14% | 36.52% | 36.36% | 47.97% | 30.96% | 38.52% | 51.53% |
| FFO Growth % | 9.64% | 7.02% | 10.71% | 5.53% | 4.42% | 5.89% | 141.8% | 8.74% | -39.03% | -20% | -366.51% | 0.34% | 23.55% | 73.63% | 3.84% | -16.45% | 201.82% | -57.36% | 1530.35% | 40.73% |
| FFO per Share | 0.72 | 0.70 | 0.73 | 0.69 | 0.66 | 0.66 | 0.66 | 0.65 | 0.63 | 0.62 | -1.59 | 0.60 | 1.03 | 0.78 | 0.59 | 0.60 | 0.84 | 0.45 | 0.57 | 0.72 |
| FFO Payout Ratio % | 0% | 43.18% | 41.81% | 44.2% | 0% | 44.62% | 44.69% | 45% | 45.24% | 45.58% | -18.03% | 47.23% | 26.59% | 35.13% | 46.3% | 45.67% | 32.81% | 60.97% | 48.03% | 38.13% |
| EPS (Diluted) | 0.34 | 0.33 | 0.37 | 0.34 | 0.31 | 0.31 | 0.32 | 0.31 | 0.29 | 0.30 | -1.93 | 0.27 | 0.70 | 0.45 | 0.27 | 0.29 | 0.53 | 0.12 | 0.24 | 0.38 |
| EPS Growth % | 9.68% | 6.45% | 15.63% | 9.68% | 6.9% | 3.33% | 116.58% | 14.81% | -58.57% | -33.33% | -814.81% | -6.9% | 32.08% | 275% | 12.5% | -23.68% | 983.33% | -83.56% | 182.76% | 80.95% |
| EPS (Basic) | 0.34 | 0.33 | 0.37 | 0.34 | 0.31 | 0.31 | 0.32 | 0.31 | 0.29 | 0.30 | -1.93 | 0.27 | 0.70 | 0.45 | 0.28 | 0.29 | 0.53 | 0.12 | 0.24 | 0.38 |
| Diluted Shares Outstanding | 113.58M | 113.58M | 113.19M | 113.17M | 113.03M | 113.72M | 113.01M | 112.78M | 112.74M | 112.63M | 112.2M | 112.68M | 112.63M | 112.63M | 112.63M | 112.64M | 112.58M | 112.5M | 112.5M | 112.4M |