COPT Defense Properties

CDPNYSEReal Estate● Active

$32.65

+$0.56(+1.75%)

Market Cap$3.7B

P/E Ratio—

52W High$33.33

52W Low$26.91

Avg Volume965K

Open$32.06

Beta0.81

Free Cash Flow Financials Revenue

COPT Defense Properties (CDP) Free Cash Flow & Analysis

Annual & trailing free cash flow, FCF margin, YoY change, valuation ratios, and peer context.

CDP · free cash flow · updated Jun 8, 2026

Core FCF metrics

CDP · FCF · TTM · margin & CAGR

Free cash flow was $253.7M for FY2025 (fiscal year ending 2025-12-31), down 15.3% year-over-year The FCF margin was 33.2%. Five-year CAGR stands at +4.3%.

FY2025 Free Cash Flow$253.7M▼ -15.3% YoY

Trailing 12M (TTM)$292.7Mtrailing 4 quarters sum

FCF Margin33.2%$253.7M ÷ revenue

3-Year CAGR+3.4%FY2022 → FY2025

5-Year CAGR+4.3%FY2020 → FY2025

FormulaFCF = Operating Cash Flow − Capital ExpendituresTTM = trailing 4 quarters sumCAGR → N/A if either endpoint ≤ 0

Source: FMP /cash-flow-statement · SEC 10-K / 10-Q · USDUpdated: Jun 8, 2026

Annual free cash flow history

FCF ($B, upper) · YoY Growth % (lower)

Positive FCFNegative FCF

Free Cash Flow

YoY Growth %

Annual free cash flow data

CDP · free cash flow history · annual / quarterly

Fiscal YearOperating CFCapExFree Cash FlowYoY ChangeFCF Margin

FY2025Latest$334.9M(81M)$253.7M▼ 15.3%33.2%

FY2024$331.0M(31M)$299.6M▲ +17.1%39.8%

FY2023$276.3M(21M)$255.8M▲ +11.5%37.3%

FY2022$265.8M(36M)$229.4M▲ +4.7%31.1%

FY2021$249.1M(30M)$219.1M▲ +6.5%33.0%

FCF = Operating Cash Flow − Capital Expenditures · CapEx shown as (negative) · Source: SEC filings via FMP

FCF valuation metrics

CDP · P/FCF · FCF yield · FCF per share

COPT Defense Properties (CDP) trades at a FCF yield of 7.91% and a price-to-free-cash-flow ratio of 12.6x. FCF per share stands at $2.60, calculated using trailing twelve-month FCF divided by basic weighted-average shares outstanding.

FCF Yield (TTM)

7.91%

Free Cash Flow ÷ Market Cap

per FMP freeCashFlowYieldTTM definition

FCF per Share (TTM)

$2.60

TTM FCF ÷ Shares Outstanding

Price / FCF

x12.6

Share Price ÷ FCF per Share

EV / FCF (TTM)

x21.4

Enterprise Value basis

Source: FMP /key-metrics-ttm · /cash-flow-statement Q · /income-statementFY2025 · 2025-12-31

Cash flow statement summary

CDP · cash flow statement · operating / investing / financing

For FY2025, COPT Defense Properties generated $334.9M in operating cash flow and spent 81M in capital expenditures, yielding $253.7M in free cash flow.

Operating Activities

+$334.9M

Cash from core business operations

2025-12-31

Investing Activities

−$314.7M

CapEx, acquisitions & investments

2025-12-31

Financing Activities

+$216.5M

Buybacks, dividends & debt

2025-12-31

FCF FormulaOperating CF ($334.9M) − |CapEx| (81M) = FCF ($253.7M)

For the complete Operating / Investing / Financing line-item breakdown:

View Full Cash Flow Statement →

Free cash flow vs peers (Real Estate)

CDP vs peers · FCF

#CompanyFree Cash FlowYoYFCF MarginRelative

COPT Defense PropertiesYOU

CDP

$253.7M-15.3%33.2%

American Tower Corporation

AMT

$3.78B+2.2%35.5%

76%

Simon Property Group, Inc.

Real Estate · Sorted by FCF · FMP /cash-flow-statementFull FCF Rankings →

About Free Cash Flow & Methodology

COPT Defense Properties (CDP) reported free cash flow of $253.7M for FY2025 (fiscal year ending 2025-12-31), down 15.3% year-over-year. The FCF margin was 33.2%.

Based on available data, COPT Defense Properties has maintained positive free cash flow for at least 15 fiscal year(s). FCF peaked at $299.6M in FY2024. The 5-year CAGR stands at +4.3%.

COPT Defense Properties's FCF yield is 7.91% and price-to-FCF ratio is 12.6x for FY2025, based on the latest available data.

Data sourced from FMP /cash-flow-statement · SEC 10-K / 10-Q · USD.

Q&A and summaries align with SEC 10-K/10-Q cash flow disclosures and FMP /cash-flow-statement where noted.

Revenue Financial statements Net income Earnings Forecast Price history Market cap Cash on hand P/E ratio

Frequently asked questions

CDP free cash flow · 8 questions

COPT Defense Properties free cash flow was $253.7M for FY2025, down 15.3% year-over-year. On a trailing twelve-month (TTM) basis, free cash flow stands at $292.7M.

CDP free cash flowCDP FCFCDP FCF 2025CDP free cash flow TTM

▸ Source: FMP /cash-flow-statement · US GAAP · COPT Defense Properties · COPT Defense Properties SEC 10-K & 10-Q filings · US GAAP · Last updated: Jun 8, 2026