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MARKETS / NYSE / CBL
NYSE · REAL ESTATE INVESTMENT TRUSTS · MID CAP

CBL & Associates Properties Inc. CBL

17 fiscal years on record · USD · FY2025 reported · SEC filings only
$16.2M
▼ 12.5% YoY
$136.0M
▲ 130.6% YoY
$63.7M
In brief

What this company does

We are a self-managed, self-administered, fully integrated real estate investment trust ("REIT"). We own, develop, acquire, lease, manage, and operate regional shopping malls, outlet centers, lifestyle centers, open-air centers and other properties. At December 31, 2025, our properties are located in 22 states, but are primarily in the southeastern and midwestern United States. CBL does not have any employees other than its statutory officers. As of December 31, 2025, our Management Company had 408 full-time and 92 part-time employees that represented the following voluntarily provided demographics: Our properties compete with various shopping facilities in attracting retailers to lease space.

Written from the business description in CBL & Associates Properties, Inc.'s annual report to the U.S. Securities and Exchange Commission, filed 3 March 2026. Every sentence was checked against that document before publication.

Growth
USD 16.2M
Revenue, FY2025 · full 17-year series below
Revenue $B Net income $B
FY2025 · Revenue 0.0 · Net income 0.1
0.4B0.8B-0.1B-0.2B200820102012201420162018202020232025
Compound annual growth
−3.1%
−2.6%
−34.1%
−24.2%
+2.8%
+5.4%
+58.6%
+0.4%
3 yrs
5 yrs
10 yrs
15 yrs

Revenue compounded at −2.6% a year over five years.

Compound annual rates per period — left blank where that exact year isn't on file, the series crosses a loss, or (per-share rows) a split falls inside the window.

Profitability
828 cents
of every revenue dollar became profit
Operating margin Net margin
FY2025 · Operating — · Net 828.2%
500%-500%-1000%-1500%200820102012201420162018202020232025
ROE
FY2025 · ROE 38.9%
10%20%30%-20%-40%200820102012201420162018202020232025

Each USD of equity produced 39 cents of profit this year.

Cash & shareholders
USD 95.2M
returned in FY2025 · dividends + net buybacks
Free cash flow $M
FY2025 · FCF 63.7
200M200820102012201420162018202020232025
Net buybacks $M Dividends $M
FY2025 · Dividends 77.1 · Net buybacks 18.1
80M160MDividendsNet buybacks2008201020122018202220242025

USD 77.1M in dividends and USD 18.1M in buybacks — 70% of the year's profit went back to shareholders.

Total assetsUSD 2.7B
EquityUSD 374.9M
CashUSD 42.3M
Gross debtUSD 2.2B
Net debtUSD 2.1B

Net debt stands at 568% of equity.

The 17-year record
17 fiscal years
Every figure from documents filed with the SEC · USD

EPS, diluted, dividend per share and shares outstanding are shown without shading, and a vertical line marks the year the share count changed — the series crosses a large, unexplained change in share count, so the years on either side are not on a comparable scale.

row low → row highnegative
Metric 20252024202320222020201920182017201620152014201320122011201020092008
Revenue $B0.00.00.00.00.00.00.00.91.01.11.11.11.01.11.01.11.1
Operating income $B·······0.20.30.30.40.30.40.40.40.30.4
EBITDA $B·······0.50.50.60.70.60.60.60.70.60.7
Income tax $B0.00.00.00.00.00.0−0.0−0.0−0.00.00.00.00.0−0.0−0.0−0.00.0
Net income $B0.10.10.0−0.1−0.3−0.1−0.10.10.20.10.20.10.10.10.1−0.00.0
Free cash flow $B0.1··0.2·0.30.40.2····0.30.20.30.2−0.0
EPS, diluted $4.341.870.17−3.20−1.75−0.89−0.720.440.750.341.020.240.540.620.21−0.350.15
Dividend / sh $····0.000.070.68995.00···0.050.17····
Payout %57851804−26·−24−175150····10292144−377457
ROE %38.917.81.8−24.4−44.1−12.3−8.1····6.410.210.45.1−1.3·
Shares out B0.030.030.030.030.200.170.170.170.170.170.170.170.160.150.150.14·

Slide the table for earlier years · "·" marks a figure not available in our data for that year.

Provenance
Company facts, as filed
How we verify · 0 failures in 42 reconciliationsAUDITED

Reconciled in 18 of 19 fiscal years. 22 checks could not be computed.

EPS recomputationBalance-sheet identityGross profitBalance-sheet liquiditymoeda_consistente0 failures
ActivityReal Estate Investment Trusts
Listed onNYSE
Incorporated inDelaware
Fiscal year endsDecember 31
Data on record since2008

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