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CDP stock logo

CDP

COPT Defense Properties

$30.61
-0.71
 (-2.27%)
Exchange:   NYSE
Market Cap:   3.465B
Shares Outstanding:   85.167M
Overview
Earnings
Financials
Valuation
Chart

About The Company

Sector:  Real Estate
Industry:  REIT – Office
   
CEO:  Stephen E. Budorick
Full Time Employees:  427
Address: 
6711 Columbia Gateway Drive
Columbia
MD
21046-2383
US
Website:  https://www.copt.com
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.

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Revenue Segmentation

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EPS

Historical EPS and analyst estimates in one chart. Log in for the full interactive view and links to detailed estimates.

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View full analyst estimates

Earnings Call

Latest materials on file: 4 2025 (2026/02/06)

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Income Statement
Balance Sheet
Cash Flow Statement
Analyst Estimates

Income Statement

Year202220232024
Revenue739,030684,982753,267
Gross Profit220,407231,231260,361
EBITDA354,463339,857369,735
Operating Income181,416188,462213,323
Net Income173,029-73,469138,929

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(* All numbers are in thousands)

Balance Sheet

Year202320242025
Total Assets4,246,9664,254,1914,701,790
Total Liabilities2,699,6312,693,6243,114,115
Total Stockholders Equity1,483,9121,493,0831,514,774.999
Total Debt2,450,2182,440,9952,813,209
Cash and Cash Equivalents167,82038,284274,986

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(* All numbers are in thousands)

Cash Flow Statement

Year202320242025
Operating Cash Flow276,274330,9550
Capital Expenditure-20,500-31,3420
Free Cash Flow255,774299,6130
Net Income-73,469138,929159,534
Net Change in Cash152,915-129,7270

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(* All numbers are in thousands)

Analyst Estimates

Fiscal Year2030Full AccessFull AccessFull AccessFull Access
Estimated Revenue (Low)873,091.875Full AccessFull AccessFull AccessFull Access
Estimated Revenue (High)901,533.485Full AccessFull AccessFull AccessFull Access
Estimated Revenue (Avg)892,386Full AccessFull AccessFull AccessFull Access
Estimated Ebitda (Low)538,285.769Full AccessFull AccessFull AccessFull Access
Estimated Ebitda (High)555,820.823Full AccessFull AccessFull AccessFull Access
Estimated Ebitda (Avg)550,181.141Full AccessFull AccessFull AccessFull Access
Estimated Net Income (Low)0Full AccessFull AccessFull AccessFull Access
Estimated Net Income (High)0Full AccessFull AccessFull AccessFull Access
Estimated Net Income (Avg)0Full AccessFull AccessFull AccessFull Access
Estimated SGA Expense (Low)49,227.262Full AccessFull AccessFull AccessFull Access
Estimated SGA Expense (High)50,830.876Full AccessFull AccessFull AccessFull Access
Estimated SGA Expense (Avg)50,315.116Full AccessFull AccessFull AccessFull Access
Estimated EPS (Avg)0Full AccessFull AccessFull AccessFull Access
Estimated EPS (High)0Full AccessFull AccessFull AccessFull Access
Estimated EPS (Low)0Full AccessFull AccessFull AccessFull Access
Number of Analysts (Estimated Revenue)1Full AccessFull AccessFull AccessFull Access
Number of Analysts (Estimated EPS)0Full AccessFull AccessFull AccessFull Access

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(* All numbers are in thousands)

Current Key Metrics

?Revenue
 (TTM)
: 
753.267M  ?P/S
 (TTM)
: 
4.54
?Net Income
 (TTM)
: 
138.929M  ?P/E
 (TTM)
: 
22.66
?Enterprise Value
 (TTM)
: 
6.004B  ?EV/FCF
 (TTM)
: 
21.42
?Dividend Yield
 (TTM)
: 
0.04  ?Payout Ratio
 (TTM)
: 
0.9
?ROE
 (TTM)
: 
0.1  ?ROIC
 (TTM)
: 
0.45
?Net Debt
 (TTM)
: 
2.403B  ?Debt/Equity
 (TTM)
: 
1.86
?P/B
 (TTM)
: 
2.28  ?Current Ratio
 (TTM)
: 
5.51

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Forward P/E Ratios

?

Forward P/E (Avg EPS estimate) — log in with Full Access for high/low estimates and the interactive table.

Forward P/E 1YFull AccessFull AccessFull AccessFull Access
22.84Full AccessFull AccessFull AccessFull Access

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SWOT Analysis

Strengths (preview)
  • Solid Financial Performance in Q2 2025: As highlighted in the latest earnings call transcript, COPT Defense Properties reported strong Funds From Operations (FFO) per share, indicating robust operational efficiency and profitability within the real estate investment trust (REIT) sector focused on defense properties.
  • Stable Revenue Streams: Income statement data reflects consistent revenue generation over recent periods, supported by a focused portfolio in defense-related properties, which likely benefits from long-term government contracts and stable demand.
  • Strong Liquidity Position: Balance sheet metrics, including cash and cash equivalents and total current assets, suggest a healthy liquidity position, enabling the company to manage short-term obligations and invest in strategic initiatives.
  • Positive Industry Positioning: Industry and sector performance data indicate that CDP operates in a niche within the real estate sector tied to defense, which may provide a competitive edge over broader real estate peers due to specialized demand.

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At what price to buy it? -
Intrinsic Value Calculator

Based on current fundamentals and analyst forecasts, MARKETSnap estimates CDP intrinsic value between $37.03 – $39.05 per share. This depends on revenue growth, margins, and discount rate.

This is an automatic estimate. The most reliable way to know fair value for your own assumptions is to run the calculator below.


Calculate CDP Intrinsic Value

Common questions about CDP valuation

Is COPT Defense Properties (CDP) overvalued or undervalued right now?

MARKETSnap estimates intrinsic value for COPT Defense Properties (CDP) using its proprietary valuation methodology, which incorporates discounted cash flow (DCF) analysis together with long-term earnings and fundamentals assumptions. By comparing intrinsic value to the current market price, long-term investors can see whether the stock screens as potentially overvalued, fairly valued, or undervalued today.

Is CDP a buy, hold, or sell for long-term investors?

MARKETSnap does not give one-word “buy” or “sell” calls. Instead, it shows whether CDP trades at a premium or discount to its estimated intrinsic value, how sensitive that value is to growth and margin assumptions, and how the stock fits into a diversified, long-term portfolio so investors can make their own buy, hold, or sell decision.

What is CDP’s P/E ratio?

You can see CDP’s trailing P/E (TTM) and forward P/E estimates in the Current Key Metrics and Forward P/E Ratios sections above. The P/E ratio compares the current share price to earnings per share and helps investors gauge valuation relative to earnings.

How is intrinsic value calculated for CDP?

MARKETSnap uses its own valuation framework—not a generic spreadsheet DCF alone. Future cash flows and earnings are projected, discounted, and combined with MARKETSnap’s methodology so intrinsic value reflects fundamentals and long-term assumptions. You can run your own inputs and see the result using the Intrinsic Value Calculator above.

Is CDP a good long-term investment?

Whether CDP fits a long-term portfolio depends on your assumptions about growth, margins, and risk. MARKETSnap provides the metrics, intrinsic value calculator, and SWOT context so you can form your own view rather than rely on a single buy/sell rating.

CDP

1-day price chart preview. Log in for 1W through 5Y ranges and period tabs.

-2.27
MARKETSnap

Trading Metrics:

Open: 31.37   Previous Close: 31.32
Day Low: 30.55   Day High: 31.37
Year Low: 23.92   Year High: 32.82
Price Avg 50: 31.36   Price Avg 200: 29.36
Volume: 810803   Average Volume: 1.245M

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See in Nexus

Relevant news

COPT Defense Properties (CDP) Presents at JPMorgan Industrials Conference 2026 Transcript
17-03-2026 19:32
COPT Defense Properties (CDP) Presents at JPMorgan Industrials Conference 2026 Transcript
COPT Defense (CDP) Upgraded to Buy: Here's Why
04-03-2026 13:01
COPT Defense (CDP) Upgraded to Buy: Here's Why
COPT Defense Properties (CDP) Presents at Citi's Miami Global Property CEO Conference 2026 Transcript
03-03-2026 04:47
COPT Defense Properties (CDP) Presents at Citi's Miami Global Property CEO Conference 2026 Transcript
COPT Defense Increases Quarterly Dividend by 4.9%
19-02-2026 16:16
COPT Defense Increases Quarterly Dividend by 4.9%
Italy's CDP urges Euronext to pick new CEO for Milan bourse, sources say
10-02-2026 12:09
Italy's CDP urges Euronext to pick new CEO for Milan bourse, sources say
COPT Defense Properties (CDP) Q4 2025 Earnings Call Transcript
06-02-2026 17:04
COPT Defense Properties (CDP) Q4 2025 Earnings Call Transcript

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