CDP
COPT Defense Properties
NYSE: CDP · REAL ESTATE · REIT - OFFICE
$30.94
-3.58% today
Updated 2026-04-29
Market cap
$3.57B
P/E ratio
22.58
P/S ratio
4.58x
EPS (TTM)
$1.37
Dividend yield
2.85%
52W range
$25 – $33
Volume
1.1M
COPT Defense Properties (CDP) Financial statements
SEC filings — annual and quarterly data.
Income statement — annual
| Item | 2006 | 2007 | 2008 | 2009 | 2010 | 2011 | 2012 | 2013 | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $353.66M | $407.14M | $585.61M | $767.07M | $492.23M | $492.96M | $508.13M | $525.47M | $586.70M | $625.27M | $574.56M | $612.77M | $578.11M | $611.82M | $584.18M | $664.45M | $739.03M | $684.98M | $753.27M | $763.92M |
| Revenue growth (YoY) | — | +15.1% | +43.8% | +31.0% | -35.8% | +0.1% | +3.1% | +3.4% | +11.7% | +6.6% | -8.1% | +6.7% | -5.7% | +5.8% | -4.5% | +13.7% | +11.2% | -7.3% | +10.0% | +1.4% |
| Cost of revenue | $231.92M | $163.05M | $141.05M | $493.67M | $346.82M | $343.02M | $337.78M | $226.07M | $279.99M | $435.39M | $374.09M | $422.99M | $394.59M | $420.42M | $258.41M | $454.97M | $518.62M | $453.75M | $492.91M | $646.07M |
| Gross profit | $129.48M | $244.09M | $444.55M | $273.40M | $145.42M | $149.94M | $170.35M | $299.40M | $306.71M | $189.88M | $200.47M | $189.79M | $183.52M | $191.40M | $325.77M | $209.47M | $220.41M | $231.23M | $260.36M | $117.85M |
| Gross margin | 36.6% | 60.0% | 75.9% | 35.6% | 29.5% | 30.4% | 33.5% | 57.0% | 52.3% | 30.4% | 34.9% | 31.0% | 31.7% | 31.3% | 55.8% | 31.5% | 29.8% | 33.8% | 34.6% | 15.4% |
| R&D | — | — | — | — | — | — | — | — | — | — | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | — | — |
| SG&A | $16.94M | $20.52M | $208.24M | $23.24M | $34.90M | $36.43M | $37.61M | $30.87M | $31.79M | $31.36M | $30.10M | $30.84M | $28.90M | $39.64M | $33.00M | $40.77M | $38.99M | $42.77M | $47.04M | $32.78M |
| Operating income | $108.42M | $117.68M | $133.15M | $137.93M | $110.51M | $30.30M | $89.07M | $141.91M | $131.61M | $120.09M | $52.41M | $134.23M | $144.53M | $151.43M | $289.96M | $168.70M | $181.42M | $188.46M | $213.32M | $230.37M |
| Operating margin | 30.7% | 28.9% | 22.7% | 18.0% | 22.5% | 6.1% | 17.5% | 27.0% | 22.4% | 19.2% | 9.1% | 21.9% | 25.0% | 24.8% | 49.6% | 25.4% | 24.5% | 27.5% | 28.3% | 30.2% |
| EBITDA | $189.32M | $226.35M | $248.28M | $253.96M | $241.41M | $134.12M | $212.92M | $265.14M | $271.75M | $282.18M | $295.88M | $288.95M | $288.65M | $405.09M | $303.48M | $294.41M | $354.46M | $150.31M | $369.74M | $408.97M |
| EBITDA margin | 53.5% | 55.6% | 42.4% | 33.1% | 49.0% | 27.2% | 41.9% | 50.5% | 46.3% | 45.1% | 51.5% | 47.2% | 49.9% | 66.2% | 52.0% | 44.3% | 48.0% | 21.9% | 49.1% | 53.5% |
| EBIT | $109.25M | $120.71M | $143.32M | $142.15M | $115.59M | $-2.47M | $88.51M | $149.88M | $146.16M | $142.16M | $161.01M | $152.45M | $149.59M | $266.19M | $163.45M | $143.76M | $210.87M | $1.28M | $213.72M | $247.14M |
| Interest expense | — | $85.58M | $86.41M | $82.19M | $89.86M | $83.44M | $80.16M | $76.56M | $87.73M | $84.61M | $78.59M | $76.98M | $75.39M | $71.05M | $67.94M | $65.40M | $61.17M | $72.46M | $83.77M | $88.15M |
| Income tax | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Effective tax rate | 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% | 0.0% |
| Net income | $49.23M | $34.78M | $53.97M | $56.33M | $42.76M | $-119.43M | $20.98M | $93.71M | $40.26M | $178.30M | $30.05M | $68.75M | $72.30M | $191.69M | $97.37M | $76.54M | $173.03M | $-73.47M | $138.93M | $152.31M |
| Net income growth (YoY) | — | -29.3% | +55.1% | +4.4% | -24.1% | -379.3% | +117.6% | +346.7% | -57.0% | +342.9% | -83.1% | +128.7% | +5.2% | +165.1% | -49.2% | -21.4% | +126.1% | -142.5% | +289.1% | +9.6% |
| Profit margin | 13.9% | 8.5% | 9.2% | 7.3% | 8.7% | -24.2% | 4.1% | 17.8% | 6.9% | 28.5% | 5.2% | 11.2% | 12.5% | 31.3% | 16.7% | 11.5% | 23.4% | -10.7% | 18.4% | 19.9% |