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MARKETS / NYSE / CDP
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
$42.1M
▼ 44.3% YoY
$159.5M
▲ 10.8% YoY
$133.8M
▼ 20.0% YoY
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 42.1M
Revenue, FY2025 · full 18-year series below
Revenue $M Net income $M
FY2025 · Revenue 42.1 · Net income 159.5
250.0M500.0M-40.0M-80.0M2008201120142017202020232025
Compound annual growth
−35.2%
−9.8%
−23.7%
−15.1%
−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 −9.8% a year over five years — 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
379 cents
of every revenue dollar became profit
Operating margin Net margin
FY2025 · Operating — · Net 379.2%
100%200%300%-50%-100%2008201120142017202020232025
ROE
FY2020 · ROE 5.8%
5%10%-5%-10%2008201120142017202020232025

Cash & shareholders
USD 136.6M
returned in FY2025 · dividends + net buybacks
Free cash flow $M
FY2025 · FCF 133.8
80M160M-80M-160M2008201120142017202020232025
Net buybacks $M Dividends $M
FY2025 · Dividends 136.6 · Net buybacks —
50M100M-100M-200MDividendsNet buybacks2008201120142017202020232025

USD 136.6M in dividends went back to shareholders.

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
Metric 202520242023202220212020201920182017201620152014201320122011201020092008
Revenue $B0.00.10.10.20.10.10.10.10.10.00.60.60.50.50.50.50.70.6
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 %·····5.811.74.84.71.911.92.86.71.7−10.13.85.5·
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 · "·" marks a figure not available in our data for that year.

Provenance
Company facts, as filed
How we verify · 0 failures · 4 divergences in 52 reconciliationsAUDITED

Reconciled in 14 of 19 fiscal years. 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. 7 checks could not be computed.

EPS recomputationBalance-sheet identityGross profitBalance-sheet liquiditymoeda_consistente0 failures4 divergent
ActivityReal Estate Investment Trusts
Listed onNYSE
Incorporated inMaryland
Fiscal year endsDecember 31
Data on record since2008

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