Skip to content
NYSE · REAL ESTATE INVESTMENT TRUSTS · LARGE CAP

Copt Defense Properties CDP

18 fiscal years on record · USD · FY2025 reported · SEC filings only
3 YEARS OF DIVIDEND GROWTH
$763.9M
▲ 1.4% YoY
$159.5M
▲ 10.8% YoY
$133.8M
▼ 20.0% YoY

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

In brief

What this company does

COPT Defense Properties and subsidiaries form a fully-integrated and self-managed real estate investment trust focused on owning, operating and developing properties in locations proximate to, or sometimes containing, key U.S. Government defense installations and missions. Its tenants include the U.S. Government and its defense contractors, who are primarily engaged in priority national security activities and generally require mission-critical and high security property enhancements. The company's property portfolio is predominantly comprised of office properties and single-tenant data center shells. As of December 31, 2025, its Defense/IT Portfolio included 201 operating properties totaling 23.2 million square feet. COPT Defense's common shares are publicly traded on the New York Stock Exchange under the ticker symbol CDP. As of December 31, 2025, the company's workforce was comprised of 430 employees based in Maryland, where it is headquartered, along with Virginia, Washington DC, Alabama, and Texas. As of December 31, 2025, the company's operations included two reportable segments: Defense/IT Portfolio and Other.

Written from the business description in COPT Defense Properties's annual report to the U.S. Securities and Exchange Commission, filed 20 February 2026. Every sentence was checked against that document before publication.

Growth

USD 763.9M
Revenue, FY2025 · full 18-year series below
Revenue $M Net income $M
FY2025 · Revenue 763.9 · Net income 159.5
300M600M-50M-100M
2008201120142017202020232025
Compound annual growth
+1.1%
+5.6%
+2.0%
+3.0%
−3.7%
+9.2%
−4.3%
+9.0%
−2.6%
+7.9%
+3.5%
+2.1%
+1.0%
−1.8%
+3.4%
+2.1%
+2.8%
+2.5%
3 yrs
5 yrs
10 yrs
15 yrs

Revenue compounded at +5.6% a year over the five years to FY2025 — but profit grew faster: net income at +9.2%, earnings per share at +9.0%.

The share count rose from 0.11B to 0.11B over the period.

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

21 cents
of every revenue dollar became profit
Operating margin Net margin
FY2025 · Operating · · Net 20.9%
10%20%30%-10%-20%
200820162025
ROE
FY2020 · ROE 5.8%
5%10%-5%-10%
200820162025
Three returns, three denominators.
Return on equityNot available: we don't have a clean profit figure for this period.
Return on capital employedNot available: we don't have total assets or current liabilities for this period.

Cash & shareholders

USD 136.6M
returned in FY2025 · dividends + net buybacks
Free cash flow $M
FY2025 · FCF 133.8
100M200M-100M-200M
200820162025
Net buybacks $M Dividends $M
FY2025 · Dividends 136.6 · Net buybacks ·
50M100M-100M-200MDividendsNet buybacks
2008201120142017202020232025

USD 136.6M in dividends — Not available: we don't have a clean profit figure for this period.

Total assetsUSD 4.7B
EquityUSD 1.5B
CashUSD 275.0M
Gross debtUSD 2.8B
Net debtUSD 2.5B

Net debt stands at 165% of equity.

The 18-year record

18 fiscal years
Every figure from documents filed with the SEC · USD
row low → row highnegative—not applicable◌not available in our data
CDP, 18-year financial record
Metric 202520242023202220212020201920182017201620152014201320122011201020092008
Revenue $B0.80.80.70.70.70.60.60.60.60.60.60.60.50.50.50.50.70.6
Operating income $B◌◌◌◌◌◌◌◌0.10.10.10.10.10.10.00.10.10.1
EBITDA $B◌◌◌◌◌◌◌◌0.30.20.30.30.30.20.2◌◌◌
Income tax $B0.00.00.00.00.00.0−0.0−0.00.00.00.00.00.00.0−0.00.00.00.0
Net income $B0.20.1−0.10.20.10.10.20.10.10.00.20.00.10.0−0.10.00.10.1
Free cash flow $B0.10.20.0−0.0−0.0−0.1−0.20.00.00.1−0.0−0.0−0.00.0−0.1−0.10.0−0.1
EPS, diluted $1.341.23−0.671.530.680.871.710.690.560.151.740.250.83−0.03−1.970.430.700.76
Dividend / sh $1.221.181.141.101.101.101.101.101.101.101.101.101.101.101.651.611.53◌
Payout %◌◌◌◌◌1276415815936058239100425−96219——
ROE %◌◌◌◌◌5.811.74.84.71.911.92.86.71.7−10.13.85.35.0
Shares out B0.110.110.110.110.110.110.110.110.100.100.100.090.090.080.070.070.060.05

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 · 4 divergences in 52 reconciliationsAUDITED

Reconciled in 14 of the 18 fiscal years we could check. 4 of those reconciliations are divergences — the figures exist but don't fit the formula this check expects; that isn't the same as an error. Two checks were skipped: the share count is not tagged before 2009. Two checks were skipped: the balance sheet is not tagged before 2009. Two checks were skipped: cost of revenue is not tagged before 2009.

EPS recomputationBalance-sheet identityGross profitBalance-sheet liquidityCurrency consistency0 failures4 divergent
ActivityReal Estate Investment Trusts
Listed onNYSE
Incorporated inMaryland
Fiscal year endsDecember 31
Data on record since2008

Share this section

Download image