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NYSE · REAL ESTATE INVESTMENT TRUSTS · MID CAP

CBL & Associates Properties Inc. CBL

17 fiscal years on record · USD · FY2025 reported · SEC filings only
$578.4M
▲ 12.2% YoY
$136.0M
▲ 130.6% YoY
$63.7M

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

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 578.4M
Revenue, FY2025 · full 17-year series below
Revenue $B Net income $B
FY2025 · Revenue 0.6 · Net income 0.1
0.5B1.0B-0.1B-0.3B
2008201120142017202020242025
Compound annual growth
+0.9%
+58.6%
3 yrs
5 yrs
10 yrs
15 yrs

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

23 cents
of every revenue dollar became profit
Operating margin Net margin
FY2025 · Operating · · Net 23.3%
10%20%30%-20%-40%
200820162025
ROE
FY2025 · ROE 38.9%
10%20%30%-20%-40%
200820162025
Three returns, three denominators.
Return on capital employedNot available: we don't have total assets or current liabilities for this period.

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
150M300M
200820162025
Net buybacks $M Dividends $M
FY2025 · Dividends 77.1 · Net buybacks 18.1
100M200MDividendsNet buybacks
2008201020122018202220242025

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—not applicable◌not available in our data
CBL, 17-year financial record
Metric 20252024202320222020201920182017201620152014201320122011201020092008
Revenue $B0.60.50.50.60.60.80.90.91.01.11.11.11.01.11.01.11.1
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 %38.917.81.8−24.4−44.1−12.3−7.19.412.9◌◌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. "—" not applicable · "◌" not available in our data.

More in this sector

Other companies filing in the same sector

Provenance

Company facts, as filed

How we verify · 0 failures in 42 reconciliationsAUDITED

Reconciled in 17 of the 17 fiscal years we could check. Four checks were skipped: cost of revenue is not tagged before 2011. Two checks were skipped: the balance sheet is not tagged before 2009. One check was skipped: EPS is not tagged before 2008.

EPS recomputationBalance-sheet identityGross profitBalance-sheet liquidityCurrency consistency0 failures
ActivityReal Estate Investment Trusts
Listed onNYSE
Incorporated inDelaware
Fiscal year endsDecember 31
Data on record since2008

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