See more : Computer Task Group, Incorporated (CTG) Income Statement Analysis – Financial Results
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 |
COPT Defense (CDP) Q1 FFO and Revenues Top Estimates
COPT Defense (CDP) came out with quarterly funds from operations (FFO) of $0.62 per share, beating the Zacks Consensus Estimate of $0.60 per share. This compares to FFO of $0.59 per share a year ago.
COPT Defense Acquires 202,000 Square Foot Building in Columbia, MD
COLUMBIA, Md.--(BUSINESS WIRE)--COPT Defense Properties (NYSE: CDP) (“COPT Defense” or the “Company”) announced the acquisition of a 202,000 square foot Class A building, located in Columbia Gateway at 6841 Benjamin Franklin Drive in Columbia, Maryland, for $15 million. The 7-story...
COPT Defense Reports First Quarter 2024 Results
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COPT Defense Properties owns specialized defense properties with high renewal rates and rent roll-ups, positioning the company for 4%-5% growth. The company benefits from the stability of government and defense-related tenants, with reliable rent payments and high renewal rates. COPT...
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COLUMBIA, Md.--(BUSINESS WIRE)--COPT Defense Properties (NYSE: CDP) (“COPT Defense” or the “Company”) announces the release date and conference call details in which management will discuss first quarter 2024 results. Details: Results Release Date: ...
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Category: Stock Reports