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Complete financial analysis of COPT Defense Properties (CDP) income statement, including revenue, profit margins, EPS and key performance metrics. Get detailed insights into the financial performance of COPT Defense Properties, a leading company in the REIT – Office industry within the Real Estate sector.
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COPT Defense Properties (CDP)
About COPT Defense Properties
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.
| Metric | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | 684.98M | 739.03M | 664.45M | 609.37M | 641.23M | 578.11M | 612.78M | 574.56M | 625.27M | 586.70M | 525.47M |
| Cost of Revenue | 453.75M | 518.62M | 454.97M | 409.65M | 445.17M | 394.59M | 422.99M | 374.09M | 435.39M | 279.99M | 226.07M |
| Gross Profit | 231.23M | 220.41M | 209.47M | 199.72M | 196.05M | 183.52M | 189.79M | 200.47M | 189.88M | 306.71M | 299.40M |
| Gross Profit Ratio | 33.76% | 29.82% | 31.53% | 32.77% | 30.57% | 31.75% | 30.97% | 34.89% | 30.37% | 52.28% | 56.98% |
| Research & Development | 0.00 | 0.20 | 0.12 | 0.17 | 0.29 | 0.12 | 0.12 | 0.02 | 0.00 | 0.00 | 0.00 |
| General & Administrative | 42.77M | 38.99M | 40.77M | 37.47M | 39.64M | 28.90M | 30.84M | 30.10M | 31.36M | 31.79M | 30.87M |
| Selling & Marketing | 0.00 | 0.00 | 0.00 | 4.47M | 4.24M | 5.84M | 6.21M | 8.24M | 9.41M | 5.57M | 5.44M |
| SG&A | 42.77M | 38.99M | 40.77M | 37.47M | 39.64M | 0.11 | 0.10 | 0.02 | 40.77M | 37.37M | 36.31M |
| Other Expenses | 0.00 | -40.14M | -41.87M | -91.79M | -41.57M | -77.29M | -80.88M | -149.35M | -47.72M | 0.00 | 0.00 |
| Operating Expenses | 231.23M | 39.26M | 39.65M | 36.54M | 39.64M | 172.14M | 177.02M | 220.34M | 47.72M | 173.75M | 173.60M |
| Cost & Expenses | 496.52M | 557.89M | 494.62M | 446.19M | 484.82M | 431.50M | 467.61M | 463.35M | 483.11M | 453.74M | 399.67M |
| Interest Income | 12.59M | 9.34M | 7.88M | 8.57M | 7.89M | 71.03M | 70.67M | 77.72M | 84.56M | 87.47M | 77.97M |
| Interest Expense | 72.46M | 61.17M | 65.40M | 67.94M | 71.05M | 75.39M | 76.98M | 78.59M | 84.61M | 87.73M | 76.56M |
| Depreciation & Amortization | 151.40M | 557.61M | 495.75M | 475.58M | 484.35M | 430.42M | 461.08M | 413.88M | 140.03M | 125.59M | 115.27M |
| EBITDA | 337.49M | 192.23M | 320.44M | 303.48M | 292.30M | 288.66M | 288.95M | 295.88M | 282.18M | 271.75M | 265.14M |
| EBITDA Ratio | 49.27% | 26.01% | 26.91% | 28.48% | 25.88% | 49.93% | 47.15% | 51.50% | 45.13% | 46.32% | 50.46% |
| Operating Income | 188.46M | 48.64M | 168.70M | 160.71M | 156.08M | 137.12M | 134.23M | 132.72M | 142.16M | 146.16M | 149.88M |
| Operating Income Ratio | 27.51% | 6.58% | 25.39% | 26.37% | 24.34% | 23.72% | 21.90% | 23.10% | 22.74% | 24.91% | 28.52% |
| Total Other Income/Expenses | -262.22M | -31.72M | -90.33M | -59.76M | 43.71M | -66.25M | 150.08M | -158.39M | 46.76M | -111.34M | -111.06M |
| Income Before Tax | -73.76M | 149.70M | 78.37M | 103.23M | 199.79M | 284.80M | 285.92M | 293.40M | 172.96M | 45.49M | 47.83M |
| Income Before Tax Ratio | -10.77% | 20.26% | 11.79% | 16.94% | 31.16% | 49.26% | 46.66% | 51.06% | 27.66% | 7.75% | 9.10% |
| Income Tax Expense | 588.00K | 447.00K | 145.00K | 353.00K | -217.00K | 147.69M | 151.69M | 160.68M | 199.00K | 310.00K | 1.98M |
| Net Income | -73.47M | 173.03M | 76.54M | 97.37M | 191.69M | 70.40M | 70.81M | 11.33M | 230.54M | 22.09M | 14.73M |
| Net Income Ratio | -10.73% | 23.41% | 11.52% | 15.98% | 29.89% | 12.18% | 11.56% | 1.97% | 36.87% | 3.76% | 2.80% |
| EPS | -0.65 | 1.29 | 0.68 | 0.87 | 1.72 | 101.86M | 126.88M | -24.17M | 2.45 | 0.25 | 0.17 |
| EPS Diluted | -0.65 | 1.28 | 0.68 | 0.87 | 1.71 | 102.04M | 127.13M | -24.17M | 2.36 | 0.25 | 0.17 |
| Weighted Avg Shares Out | 112.18M | 112.07M | 111.96M | 111.79M | 111.20M | 0.69 | 0.56 | -0.47 | 93.91M | 88.36M | 85.17M |
| Weighted Avg Shares Out (Dil) | 112.18M | 112.62M | 112.42M | 112.08M | 111.62M | 0.69 | 0.56 | -0.47 | 97.67M | 88.26M | 85.22M |
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Source: https://incomestatements.info
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