Filing Flows › Copt Defense Properties (CDP) › Q3 2025
Copt Defense Properties (CDP) Q3 2025 earnings results (third quarter 2025)
10-Q filed Nov 4, 2025
Copt Defense Properties (CDP) reported revenue of $189M for the third quarter 2025 (Q3 2025), -0.2% from a year earlier and -0.6% from the quarter before. Operating margin was 30.6%, net earnings $41.6M (22.0% of revenue).
Copt Defense Properties, Q3 2025: revenue $189M (-0.2% year over year), operating margin 30.6%, net earnings $41.6M, operating cash flow $68.6M. The chart follows the revenue to costs, profit and cash.
| Q3 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $189M | -0.6% | -0.2% |
| Operating profit | $57.8M | -3% | +6% |
| Net earnings | $41.6M | +9% | +16% |
| Operating cash flow | $68.6M | -22% | +6% |
| Free cash flow | $31.1M | +5% | 12× |
What changed
Revenue was $188.8M in Q3 2025, roughly flat year over year and down 1% from the previous quarter.
Operating profit was $57.8M, a 30.6% margin (up 1.8 points year over year). Total costs fell 3% while revenue was flat. Net earnings were $41.6M, up 16% year over year. The effective tax rate was 1.4%.
Operating cash flow was $68.6M (up 6% year over year), 157% of net income including minority interests. Non-cash charges added back $41.1M of depreciation and amortization and $3.0M of share-based compensation. Working capital and other items used $19.1M. Capital expenditures of $37.6M left free cash flow of $31.1M.
Questions
What was Copt Defense Properties' revenue in the third quarter 2025?
Copt Defense Properties (CDP) reported revenue of $189M for the third quarter 2025 (Q3 2025), -0.2% from a year earlier and -0.6% from the quarter before.
Was Copt Defense Properties profitable in the third quarter 2025?
Operating profit was $57.8M (30.6% of revenue) and net earnings $41.6M.