CDP - NYSE

COPT Defense Properties

CDP·NYSE

$31.31

-0.87%

Real EstateREIT - Office

COPT is a REIT that owns, manages, leases, develops and selectively acquires office and data center properties. The majority of its portfolio is in locations that support the United States Government and its contractors, most of whom are engaged in national security, defense and information technology (IT) related activities servicing what the Company believes are growing, durable, priority missions (Defense/IT Locations). The Company also owns a portfolio of office properties located in select urban submarkets in the Greater Washington, DC/Baltimore region with durable Class-A office fundamentals and characteristics (Regional Office Properties). As of June 30, 2023, the Company derived 90% of its core portfolio annualized rental revenue from Defense/IT Locations and 10% from its Regional Office Properties. As of the same date and including 24 properties owned through unconsolidated joint ventures, COPT's core portfolio of 192 properties encompassed 22.9 million square feet and was 95% leased.

Statements Value Model

At a Glance

Live Snapshot

Market Cap$3.55B

EPS1.3500

P/E Ratio23.19

Earnings Date07/27/2026

4.70B

Assets

11%

3Y+10.0%

5Y+15.0%

10Y+24.0%

3.11B

Total Liabilities

16%

3Y+24.0%

5Y+32.0%

10Y+44.0%

1.59B

Total Equity

3Y-9.0%

5Y-8.0%

10Y-2.0%

COPT Defense Properties Funding & Solvency Profile

CDP · NYSE

Current Assets

Cash & Cash Equivalents274.99M

Net Receivables305.96M

Inventory0.00

Other Current Assets103.22M

Total Current Assets684 M

Non-Current Assets

Property, Plant & Equipment50.38M

Goodwill & Intangible Assets0.00

Long-Term Investments36.37M

Other Non-Current Assets3.93B

Total Non-Current Assets4 B

Total Assets

4.70B

Financial Health Analysis

Current Ratio

1.64x

Strong liquidity. The company has adequate resources to meet short-term liabilities.

Debt-to-Equity Ratio

1.96x

Elevated leverage. Debt exceeds equity, which amplifies both gains and risks. Monitor debt servicing ability.

Working Capital

266 M

Strong working capital position provides significant operational flexibility and financial cushion.

Asset Composition

15% Current

Capital-intensive business with significant long-term investments in property, equipment, or intangibles.

COPT Defense Properties Balance Sheet

CDP • NYSE

COPT Defense Properties Balance Sheet	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020	Dec 2019	Dec 2018	Dec 2017	Dec 2016	Dec 2015	Dec 2014	Dec 2013	Dec 2012	Dec 2011	Dec 2010	Dec 2009	Dec 2008	Dec 2007	Dec 2006
ASSETS
CURRENT ASSETS
Cash and Cash Equivalents	275M	38.3M	167.8M	12.3M	13.3M	18.4M	14.7M	8.1M	12.3M	209.9M	60.3M	6.1M	54.4M	10.6M	5.6M	10.1M	8.3M	6.8M	24.6M	7.9M
Short-Term Investments	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	274K	6.6M	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Cash & Short-Term Investments	275M	38.3M	167.8M	12.3M	13.3M	18.4M	14.8M	8.1M	12.3M	209.9M	60.3M	6.4M	61M	10.6M	5.6M	10.1M	8.3M	6.8M	24.6M	7.9M
Net Receivables	306M	273.4M	279.7M	253.1M	231.9M	186M	168.8M	172.6M	176M	176.9M	149M	146.6M	170.1M	138.4M	112.9M	98.1M	17.5M	77.8M	24.8M	68M
Accounts Receivables	232.5M	203.7M	198.2M	165.7M	148.1M	186M	168.8M	115.6M	118.5M	124.7M	149M	146.6M	129M	102.6M	112.9M	18.9M	17.5M	13.7M	24.8M	26.4M
Other Receivables	73.4M	69.7M	81.5M	87.4M	83.8M	0.0	0.0	3.2M	4.9M	10.4M	0.0	0.0	0.0	0.0	0.0	79.2M	0.0	64.1M	0.0	41.6M
Inventory	0.0	0.0	-2.6M	0.0	0.0	0.0	0.0	0.0	0.0	0.0	-53K	-274K	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Prepaids	0.0	0.0	0.0	25.7M	24M	0.0	0.0	25.7M	24.7M	24.4M	0.0	0.0	19.3M	19.3M	20M	0.0	82M	93.8M	52M	48.5M
Other Current Assets	103.2M	81.6M	84.6M	232.2M	196.8M	293.9M	95.8M	3.9M	44.8M	102.8M	175.4M	96.1M	11.4M	161.8M	152.8M	22.6M	6.4M	13.7M	68.8M	-124.4M
Total Current Assets	684.2M	393.3M	529.6M	523.3M	465.9M	498.3M	279.3M	240.3M	284.7M	542.9M	384.8M	249.1M	274.1M	330.1M	291.3M	130.8M	114.1M	192.1M	170.2M	0.0
NON-CURRENT ASSETS
Property, Plant, and Equipment (Net)	50.4M	55.8M	41.3M	37M	50.2M	3.5B	3.4B	8.6M	5.3M	5.2M	6M	3.1B	3B	8M	10.2M	3.4B	3B	2.8B	2.6B	2.1B
Goodwill	0.0	0.0	0.0	0.0	0.0	0.0	0.0	-41.4M	-57.2M	-75.3M	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Intangible Assets	0.0	10.7M	6.9M	10M	14.6M	19.2M	27.4M	43.5M	59.1M	78.4M	98.3M	43.9M	59.3M	75.9M	89.1M	113.7M	100.7M	91.8M	108.7M	87.3M
Goodwill & Intangible Assets	0.0	10.7M	6.9M	10M	14.6M	19.2M	27.4M	2.1M	1.9M	3M	98.3M	43.9M	59.3M	75.9M	89.1M	113.7M	100.7M	91.8M	108.7M	87.3M
Long-Term Investments	36.4M	39.4M	41.1M	21.5M	51.6M	34.8M	58.7M	45.8M	46.8M	27.9M	17.1M	2.4M	2.6M	2.4M	0.0	0.0	0.0	0.0	0.0	0.0
Tax Assets	0.0	0.0	-6.9M	1.4M	1.8M	0.0	0.0	3.7B	3.6B	3.8B	3.5M	0.0	0.0	6.6M	6.9M	0.0	0.0	0.0	0.0	0.0
Other Non-Current Assets	3.9B	3.8B	3.6B	3.7B	3.7B	70.9M	72M	-296.8M	-338.7M	-579M	3.4B	280.4M	318.8M	3.2B	3.5B	154.5M	135.4M	51.8M	49.1M	-2.2B
Total Non-Current Assets	4B	3.9B	3.7B	3.7B	3.8B	3.6B	3.6B	3.4B	3.3B	3.2B	3.5B	3.4B	3.4B	3.3B	3.6B	3.7B	3.3B	2.9B	2.8B	0.0
Other Assets	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	2.4B
Total Assets	4.7B	4.3B	4.2B	4.3B	4.3B	4.1B	3.9B	3.7B	3.6B	3.8B	3.9B	3.7B	3.6B	3.7B	3.9B	3.8B	3.4B	3.1B	2.9B	2.4B
LIABILITIES
CURRENT LIABILITIES
Total Payables	182.4M	159.9M	166M	189.4M	217.5M	142.7M	148.7M	123.7M	137.1M	108.7M	121.9M	152.9M	98.8M	126.6M	130.8M	132.7M	144.9M	119.4M	98M	1.4B
Accounts Payable	147.2M	126M	133.3M	158M	186.2M	142.7M	148.7M	92.9M	108.1M	108.7M	91.8M	123M	98.8M	97.9M	95.7M	99.7M	116.5M	93.6M	75.5M	1.4B
Other Payables	35.2M	33.9M	32.6M	31.4M	31.3M	0.0	0.0	30.9M	28.9M	0.0	0.0	0.0	0.0	28.7M	35M	33M	28.4M	25.8M	22.4M	19.2M
Short Term Debt	150M	75M	75M	211M	76M	0.0	0.0	0.0	0.0	0.0	208.1M	83M	556K	0.0	662M	0.0	2.1B	1.9B	0.0	0.0
Capital Lease Obligations (Current)	0.0	0.0	0.0	0.0	0.0	0.0	1.8M	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Deferred Revenue	85.6M	78.3M	64.5M	41M	41.6M	0.0	0.0	39.2M	37.3M	42.5M	56.9M	44M	0.0	39.6M	45.1M	14.8M	14.9M	30.5M	0.0	0.0
Other Current Liabilities	0.0	0.0	0.0	0.0	0.0	31.2M	31.3M	213M	126M	31.3M	30.2M	0.0	-60.4M	0.0	0.0	31.6M	-2B	0.0	35.5M	-1.4B
Total Current Liabilities	418M	313.3M	305.4M	441.4M	335.1M	173.9M	181.8M	375.9M	300.4M	182.5M	122.2M	154.1M	128.4M	166.2M	837.9M	179.1M	205.5M	2B	133.5M	0.0
NON-CURRENT LIABILITIES
Long Term Debt	2.6B	2.3B	2.3B	2B	2.2B	2.1B	1.9B	1.8B	1.8B	1.9B	2B	1.9B	1.9B	2B	1.8B	2.3B	2.1B	1.9B	1.8B	1.5B
Deferred Revenue (Non-Current)	0.0	0.0	0.0	0.0	0.0	0.0	0.0	30.1M	55.1M	29.8M	37.1M	0.0	0.0	27.6M	29.5M	0.0	14.9M	10.8M	11.5M	11.1M
Other Non-Current Liabilities	33.2M	14.4M	19M	18.6M	17.7M	56.7M	50.9M	-14.2M	0.0	47M	0.0	-17.1M	0.0	-6.1M	17M	18.6M	-14.9M	-1.9B	8.3M	-1.5B
Total Non-Current Liabilities	2.7B	2.4B	2.4B	2.1B	2.2B	2.2B	1.9B	1.6B	1.8B	2B	2.1B	1.8B	1.9B	2B	1.8B	2.3B	2.1B	25.2M	1.8B	0.0
Other Liabilities	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	-2.1B	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	1.6B
Capital Lease Obligations	45M	49.2M	33.9M	28.8M	29.3M	30.8M	18M	0.0	15.9M	172.5M	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Total Liabilities	3.1B	2.7B	2.7B	2.5B	2.6B	2.4B	2.1B	2B	2.1B	2.2B	2.3B	2.1B	2.1B	2.2B	2.6B	2.5B	2.3B	2B	2B	1.6B
SHAREHOLDERS' EQUITY
Preferred Stock	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	172.5M	199.1M	199.1M	249.1M	333.8M	216.3M	81K	81K	81K	81K	76K
Common Stock	1.1M	1.1M	1.1M	1.1M	1.1M	1.1M	1.1M	1.1M	1M	985K	945K	933K	874K	809K	720K	669K	583K	518K	474K	429K
Additional Paid-In Capital	2.5B	2.5B	2.5B	2.5B	2.5B	2.5B	2.5B	2.4B	2.2B	2.1B	2B	2B	1.8B	1.7B	1.5B	1.5B	1.2B	1.1B	950.6M	758M
Retained Earnings	-989M	-1B	-1B	-807.5M	-856.9M	0.0	0.0	-846.8M	-802.1M	-765.3M	-657.2M	0.0	0.0	-617.5M	-534M	-281.8M	-209.9M	-162.6M	-126.2M	-83.5M
Accumulated Other Comprehensive Income/Loss	-61K	988K	2.1M	2.1M	-3.1M	-819M	-803.7M	-847M	-799.9M	-767M	-2.8M	-718.6M	-638.4M	-5.4M	-1.7M	-4.2M	-1.9M	-4.7M	-2.4M	-693K
Other Total Stockholders' Equity	0.0	0.0	0.0	0.0	0.0	-1.0	0.0	-238K	0.0	-1.7M	-2.8M	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Total Stockholders' Equity	1.5B	1.5B	1.5B	1.7B	1.6B	1.7B	1.7B	1.6B	1.4B	1.5B	1.5B	1.5B	1.4B	1.4B	1.1B	1.2B	1B	946M	822.6M	674.3M
Total Equity	1.6B	1.6B	1.5B	1.7B	1.7B	1.7B	1.7B	1.7B	1.5B	1.6B	1.6B	1.5B	1.5B	1.4B	1.2B	1.3B	1.1B	1.1B	952.7M	790.5M
Minority Interest	72.9M	67.5M	63.4M	65.9M	61.2M	58.1M	69.7M	1.8B	1.8B	1.7B	91.3M	87.9M	89.4M	81.4M	82.5M	96.5M	93.1M	136.4M	130.1M	116.2M
SUMMARY
Total Liabilities & Equity	4.7B	4.3B	4.2B	4.3B	4.3B	4.1B	3.9B	3.7B	3.6B	3.8B	3.9B	3.7B	3.6B	3.7B	3.9B	3.8B	3.4B	3.1B	2.9B	2.4B
Total Investments	36.4M	39.4M	41.1M	21.5M	51.6M	34.8M	58.7M	45.8M	46.8M	27.9M	17.1M	2.6M	9.2M	2.4M	0.0	0.0	0.0	0.0	0.0	0.0
Total Debt	2.8B	2.4B	2.5B	2.3B	2.3B	2.1B	1.9B	1.8B	1.8B	1.9B	2.1B	1.9B	1.9B	2B	2.4B	2.3B	4.1B	3.7B	1.8B	1.5B
Net Debt	2.5B	2.4B	2.3B	2.2B	2.3B	2.1B	1.9B	22.7M	56M	-89M	2B	1.9B	1.9B	2B	2.4B	2.3B	4.1B	3.7B	1.8B	1.5B
Shares Outstanding	113,051,886	113,051,886	113,051,886	113,051,886	113,051,886	113,051,886	113,051,886	113,051,886	113,051,886	113,051,886	113,051,886	113,051,886	113,051,886	113,051,886	113,051,886	113,051,886	113,051,886	113,051,886	113,051,886	113,051,886

SEC Filings

CDP - Filing history and reports

Filing Type	Filing Date	Period Ending	Fiscal Year	Actions
8-K 8-K 2026 N/A	May 20, 2026	May 14, 2026	2026	View Filing
10-Q 10-Q 2026 Q1 Q1	May 06, 2026	March 31, 2026	2026	View Filing
8-K 8-K 2026 N/A	April 27, 2026	April 27, 2026	2026	View Filing
DEF 14A DEF 14A 2026 N/A	March 30, 2026	May 14, 2026	2026	View Filing
10-K 10-K 2025 FY FY	February 20, 2026	December 31, 2025	2025	View Filing
8-K 8-K 2026 N/A	February 05, 2026	February 05, 2026	2026	View Filing
8-K 8-K 2026 N/A	February 04, 2026	January 30, 2026	2026	View Filing
10-Q 10-Q 2025 Q3 Q3	November 04, 2025	September 30, 2025	2025	View Filing
8-K 8-K 2025 N/A	October 30, 2025	October 30, 2025	2025	View Filing
8-K 8-K 2025 N/A	October 10, 2025	October 06, 2025	2025	View Filing

Showing 1 to 10 of 512 filings

Related Guides

Blog Categories

Continue your CDP research with focused valuation guides.

Fundamentals

Decode statement quality and operating durability.

Accounting

Interpret line items with cleaner analytical framing.

Forecasting

Translate historical performance into forward scenarios.

Reference

Use practical frameworks for statement-led valuation.

Research Paths

Pick your next lens

Snapshot

Start with context, operating signals, and key market metrics.

Value Model

Stress test fair value across bear, base, and bull assumptions.

Statements

Validate revenue quality, margins, and balance sheet durability.

Earnings Call

Read management commentary and compare it with reported outcomes.

Dividends

Check payout sustainability and long-term distribution behavior.

Analyst Expectations

Review consensus spread and where estimate risk is concentrated.