COPT Defense Properties
Real EstateNYSE:CDP · New York Stock Exchange
+$0.24 today
Vol 0.56M · Avg 1.09M
Income Statement
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Review sales, margins, expenses, and profit trends to see what is actually driving reported earnings over time.
Earnings Waterfall
Revenue to Net Income
Key Ratios
Analysis
$776.7M of revenue converted into $156.1M of net income for the selected period. Gross margin is 31.7% and net margin is 20.1%, showing how much revenue survives after costs and taxes. EPS is $1.38, tying the income statement back to per-share earnings.
Income Statement
Annual data · 5 periods
| Metric | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $763.9M +1.4% | $753.3M +10.0% | $685.0M -7.3% | $739.0M +11.2% | $664.4M | $809.6M | $921.6M | $731.2M |
| Cost of Revenue | $646.1M +31.1% | $492.9M +8.6% | $453.8M -12.5% | $518.6M +14.0% | $455.0M | $725.6M | $804.0M | $882.4M |
| Gross Profit | $117.8M -54.7% | $260.4M +12.6% | $231.2M +4.9% | $220.4M +5.2% | $209.5M | $8.9B | $7.6B | $6.2B |
| Gross Margin | 15.4% -19.1pp | 34.6% +0.8pp | 33.8% +3.9pp | 29.8% -1.7pp | 31.5% | 9.8% | 28.9% | 38.3% |
| Research & Development | $0 | $0 | $0 | $0 | $0 | $983.2M | $1.3B | $490.4M |
| Selling, General & Admin | $32.8M -30.3% | $47.0M +10.0% | $42.8M +9.7% | $39.0M -4.4% | $40.8M | $620.6M | $923.0M | -$1.5B |
| Operating Expenses | -$112.5M -339.2% | $47.0M +10.0% | $42.8M +9.7% | $39.0M -4.4% | $40.8M | $5.3B | $7.0B | $8.7B |
| Depreciation & Amortization | $161.8M +3.7% | $156.0M +4.7% | $149.0M +3.8% | $143.6M -4.7% | $150.6M | $374.2M | $1.2B | $631.8M |
| EBITDA | $409.0M +6.5% | $384.0M +155.5% | $150.3M -57.6% | $354.5M +20.4% | $294.4M | -$15.2B | $6.8B | $9.3B |
| EBITDA Margin | 53.5% +2.6pp | 51.0% +29.0pp | 21.9% -26.0pp | 48.0% +3.7pp | 44.3% | 5.6% | 46.3% | 42.0% |
| Operating Income | $230.4M +8.0% | $213.3M +13.2% | $188.5M +3.9% | $181.4M +7.5% | $168.7M | $12.3B | $14.0B | -$15.7B |
| Operating Margin | 30.2% +1.8pp | 28.3% +0.8pp | 27.5% +3.0pp | 24.5% -0.8pp | 25.4% | 16.6% | 24.1% | 22.0% |
| Interest Income | $12.2M -28.4% | $17.0M +3.1% | $16.5M +76.5% | $9.3M +3.7% | $9.0M | -$1.5B | -$1.6B | $405.0M |
| Interest Expense | $88.2M +5.2% | $83.8M +15.6% | $72.5M +18.5% | $61.2M -6.5% | $65.4M | $1.1B | $1.0B | $1.2B |
| Other Income / Expenses | -$69.9M -1.1% | -$69.1M +73.7% | -$262.2M -726.7% | -$31.7M +64.9% | -$90.3M | -$1.5B | $1.4B | $1.2B |
| Income Before Tax | $160.5M +11.3% | $144.2M +295.5% | -$73.8M -149.3% | $149.7M +91.0% | $78.4M | $3.3B | $4.9B | $3.6B |
| Pre-Tax Margin | 21.0% +1.9pp | 19.1% +29.9pp | -10.8% -31.0pp | 20.3% +8.5pp | 11.8% | 20.8% | 18.7% | 26.2% |
| Income Tax Expense | $947.0K +228.8% | $288.0K -51.0% | $588.0K +31.5% | $447.0K +208.3% | $145.0K | $1.3B | -$1.6B | $745.2M |
| Net Income | $152.3M +9.6% | $138.9M +289.1% | -$73.5M -142.5% | $173.0M +126.1% | $76.5M | $4.9B | $4.8B | $4.7B |
| Net Margin | 19.9% +1.5pp | 18.4% +29.2pp | -10.7% -34.1pp | 23.4% +11.9pp | 11.5% | 12.4% | 17.5% | 22.5% |
| EPS (Basic) | $1 +9.8% | $1 +289.2% | -$1 -142.2% | $2 +126.5% | $1 | $400.8M | $703.2M | $1.3B |
| EPS (Diluted) | $1 +8.9% | $1 +289.2% | -$1 -142.5% | $2 +125.0% | $1 | $766.2M | $609.4M | $452.6M |
| Weighted Avg Shares | $112.5M +0.2% | $112.3M +0.1% | $112.2M +0.1% | $112.1M +0.1% | $112.0M | $757.8M | $925.8M | $1.1B |
| Weighted Avg Shares (Diluted) | $113.3M +0.4% | $112.9M +0.6% | $112.2M -0.4% | $112.6M +0.2% | $112.4M | $1.2B | $924.4M | $678.0M |
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How much revenue does CDP generate?
COPT Defense Properties (CDP) reported $763.92M of revenue in fiscal 2025.
Is CDP profitable?
COPT Defense Properties (CDP) reported $152.31M of net income, with a net margin of 19.9%.
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