Filing Flows

Filing Flows › Real Estate › Cousins Properties (CUZ)

Cousins Properties (CUZ) earnings and revenue breakdown

Latest: Q3 2026 · 10-Q filed Oct 29, 2026 · Cousins Properties (CUZ) Q3 2026 earnings results →

Q3 2026 Revenue up 4% year over year to $259M · 7¢ of every $1 of revenue kept as net profit · operating margin 69.5%

Cousins Properties made $259M in Q3 2026 (+4% Y/Y): Rental Properties $257M, Fees $1.4M, Termination Fee $1.0M. Operating margin 69.5%, net earnings $17.0M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Oct 29, 2026.

Revenue$259M
Year over year+4%
Operating margin69.5%
Net earnings$17.0M
Operating cash flow$111M

Drawing the Sankey…

Open the interactive Sankey → click any line for what the company wrote about it, compare Y/Y and Q/Q, export as PNG or PDF

What changed this quarter

Revenue was $259.4M in Q3 2026, up 4% year over year and down 3% from the previous quarter. Rental Properties was the largest line at 99% of revenue. Rental Properties added $10.8M year over year (up 4%), 98% of the total change.

Operating profit was $180.2M, a 69.5% margin (up 1.3 points year over year). Of the extra revenue versus Q3 2025, 99% reached operating profit, above the 68% margin then. Total costs grew 0% against revenue growth of 4%. Net earnings were $17.0M, up 98% year over year. The effective tax rate was 0.0%.

Operating cash flow was $111.3M (down 8% year over year), 654% of net earnings. Non-cash charges added back $103.3M of depreciation and amortization. Working capital and other items used $9.0M.

Quarterly history

Cousins Properties revenue by quarterCousins Properties revenue by quarter$250MQ1 2025$240MQ2 2025$248MQ3 2025$255MQ4 2025$263MQ1 2026$269MQ2 2026$259MQ3 2026
Cousins Properties net earnings by quarterCousins Properties net earnings by quarter$21.1MQ1 2025$14.7MQ2 2025$8.8MQ3 2025−$3.3MQ4 2025−$24.7MQ1 2026$26.2MQ2 2026$17.0MQ3 2026
QuarterFormFiledRevenueY/YOp. marginNet earningsOp. cash flow
Q3 202610-QOct 29, 2026$259M+4%69.5%$17.0M$111M
Q2 202610-QJul 30, 2026$269M+12%67.9%$26.2M$157M
Q1 202610-QApr 29, 2026$263M+5%68.4%−$24.7M$40.5M
Q4 202510-KFeb 5, 2026$255M+13%67.5%−$3.3M$114M
Q3 202510-QOct 30, 2025$248M+19%68.1%$8.8M$120M
Q2 202510-QJul 31, 2025$240M+13%69.4%$14.7M$123M
Q1 202510-QMay 1, 2025$250M+20%66.0%$21.1M$44.8M

Charts

Cousins Properties: revenue growth, year over year and quarter over quarterCousins Properties: revenue growth, year over year and quarter over quarterY/YQ/Q+20%Q1 2025+13%-4%Q2 2025+19%+3%Q3 2025+13%+3%Q4 2025+5%+3%Q1 2026+12%+2%Q2 2026+4%-3%Q3 2026
Latest (Q3 2026): Y/Y +4%, Q/Q -3%.
Cousins Properties: where the cash came from (+) and went (−), TTM to Q3 2026Cousins Properties: where the cash came from (+) and went (−), TTM to Q3 2026Other financing$1.4BNet borrowing (+) / repaid (−)−$1.2BOperating cash flow$423MOther investing−$356MDividends−$214MPartners−$20.2MCash drawn (+) / kept (−)−$538KShares issued$361K
From the cash-flow statement as filed (SEC XBRL). Cash is fungible: the bars do not say which dollar paid for what.
Cousins Properties: profit against cash, quarter by quarterCousins Properties: profit against cash, quarter by quarterNet incomeOperating cash flow$13.8M$129MQ4 2024$21.1M$44.8MQ1 2025$14.7M$123MQ2 2025$8.8M$120MQ3 2025−$3.3M$114MQ4 2025−$24.7M$40.5MQ1 2026$26.2M$157MQ2 2026$17.0M$111MQ3 2026
Latest (Q3 2026): Net income $17.0M, Operating cash flow $111M.
Cousins Properties: diluted shares by fiscal yearCousins Properties: diluted shares by fiscal year149MFY2020149MFY2021150MFY2022152MFY2023154MFY2024169MFY2025
+13.5% since FY2020: more shares outstanding (issuance, stock pay).
Cousins Properties: long-term debt falling due (FY2025)Cousins Properties: long-term debt falling due (FY2025)$870M2026$341M2027$250M2028$275M2029$500M2030$1.1BLater
Cash $5.7M, short-term investments —, long-term debt $3.3B at 2025-12-31.
Cousins Properties in its industry: growth against margin (213 companies, SIC 6798)Cousins Properties in its industry: growth against margin (213 companies, SIC 6798)revenue growth, year over year →↑ operating marginmedian +5%median 23%WELLAMTEQIXPLDIRMDLRWYVTRSPGBSTTRITMOPSALINEHSTVici Properties L.P.VICIHoward Hughes CorpCCIBoston Properties Ltd PartnershipEXRDOCAvalonbay Communities IncCXWAHRSBACCOLDARERHPHHHLAMRRayonier, L.P.Mid-America Apartments, L.P.SUIMAAKIMKimco Realty OP, LLCSTWDOUTEssex Portfolio LPWPCVornado Realty LPGLPIUDRREGELSPEBSVCAPLESWDRRYNDHCBrixmor Operating Partnership LPRLJStore Capital LLCOHIFederal Realty OP LPFRTDRHCubeSmart, L.P.HRCUBEAHTSL Green Operating Partnership, L.P.SLGKilroy Realty, L.P.KRCJANDEIMACMPT Operating Partnership, L.P.MPTNNNSBRAREXRSTAGADCCDPEPREGPFirst Industrial LPESRTKRGPECOESBAKite Realty Group, L.P.INNCTREIRTEPRTAres Industrial Real Estate Income Trust Inc.SKTZARECBLJBGSHGITBrandywine Operating Partnership, L.P.JLL Income Property Trust, Inc.BNLNHISAFELTCAmerican Assets Trust, L.P.GNLCMRFAATNHPBHRAKRABRDEACLDTLXPBRSPIVTFCPTSMAVinebrook Homes Trust, Inc.Fortress Net Lease REITBFSFBRTUMHALXNTSTFortress Credit Realty Income TrustNXRTCSRNuveen Global Cities REIT, Inc.North Haven Net REITKBSRCottonwood Communities, Inc.CTOSterling Real Estate TrustARIBrookfield Real Estate Income Trust Inc.CLPRXRNSTRWINREPMTNew Mountain Net Lease TrustTRTXJ.P. Morgan Real Estate Income Trust, Inc.ONLCHCTExchangeRight Income FundPSTLCMCTUHTRCFSPCFTR-PAInvesco Real Estate Income Trust Inc.BRTStarwood Credit Real Estate Income TrustWHLRGTJ REIT, Inc.ACRPINEApollo Realty Income Solutions, Inc.NXDTBHMFVRBlackRock Monticello Debt Real Estate Investment TrustLightstone Value Plus REIT I, Inc.Rise Companies CorpSculptor Diversified Real Estate Income Trust, Inc.Lightstone Value Plus REIT II, Inc.Cohen & Steers Income Opportunities REIT, Inc.ACRETCILANDLightstone Value Plus REIT V, Inc.NLCPSACHModiv Industrial, Inc.Fidelity Core Real Estate FundEQT Exeter Real Estate Income Trust, Inc.STSRFPIHighlands REIT, Inc.PRXASITCRreef Property Trust, Inc.LTSVSEVNLightstone Value Plus REIT III, Inc.SGSTFREVSFranklin BSP Real Estate Debt, Inc.BMNMFundrise eREIT, LLCCDR-PBCHMIPrincipal Credit Real Estate Income TrustICR-PANLOPSUNSMKZRGBCSSTLYCPTSQFTSummit Healthcare REIT, IncSELFTPTSGIPRLOANIHTMDRRStratCap Digital Infrastructure REIT, Inc.PWCUZ (+4%, 70%)
Real Estate Investment Trusts; dot size is quarterly revenue; dashed lines are the industry's medians.

Interactive views

The same charts as the app — open one to draw it.

💵Where each $1 goesinteractive

Loading the interactive chart…

🌏Named in Asian annual reportsinteractive

Loading the interactive chart…

🔄Rotation against the market and its industry (RRG)interactive

Loading the interactive chart…

🔍Earnings qualityinteractive

Loading the interactive chart…

⚖️Fair value by methodinteractive

Loading the interactive chart…

🔭Outlook & guidanceinteractive

Loading the interactive chart…

📈Investments: gains and what it boughtinteractive

Loading the interactive chart…

🏭Its industry’s money flow (input-output)interactive

Loading the interactive chart…

About Cousins Properties

Cousins Properties Incorporated (the “Registrant” or “Cousins”), a Georgia corporation, is a fully integrated, self-administered, and self-managed real estate investment trust (“REIT”). Cousins conducts substantially all of its business through Cousins Properties LP ("CPLP"). Cousins owns in excess of 99% of CPLP and consolidates CPLP. CPLP wholly owns Cousins TRS Services LLC ("CTRS"), a taxable entity that owns and manages its own real estate portfolio and performs certain real estate related services. Cousins, CPLP, CTRS, and their subsidiaries develop, acquire, lease, manage, and own primarily Class A office properties and opportunistic mixed-use developments in the Sun Belt markets of the United States with a focus on lifestyle office properties in Austin, Atlanta, Charlotte, Tampa, Phoenix, Dallas, and Nashville.

In its own words, from its 10-K, filed Feb 5, 2026.

Cousins Properties against its Real Estate Investment Trusts peers

The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: +4% against the peers' median +11%. Operating margin: 69.5% against the peers' median 20.6%.

CompanyQuarterRevenueY/YOp. margin
CUZ Cousins PropertiesQ3 2026$259M+4%69.5%
WELL WelltowerQ3 2026$3.7B+38%9.1%
AMT American TowerQ3 2026$2.8B+2%45.6%
EQIX EquinixQ3 2026$2.6B+11%23.3%
PLD PrologisQ1 2026$2.3B+7%52.7%
IRM Iron MountainQ3 2026$2.0B+14%20.6%
DLR Digital Realty TrustQ3 2026$1.9B+21%15.9%
WY WeyerhaeuserQ3 2026$1.9B+8%5.4%
VTR VentasQ3 2026$1.8B+23%2.9%

Source: Cousins Properties 10-Q on SEC EDGAR · CIK 25232 · Real Estate Investment Trusts

13F: who owns CUZ and who is buying

Largest holders of CUZ (13F)Largest holders of CUZ (13F)BlackRock$701MVanguard Group$644MVanguard Portfolio Management LLC$485MPrincipal Financial Group$382MState Street$239MAPG Asset Management US$224MVanguard Capital Management LLC$222MMassachusetts Financial Services$165MCentersquare Investment Managemen…$129MMillennium Management LLC$112M
Funds' net buying of CUZ by quarter (13F)Funds' net buying of CUZ by quarter (13F)$6.6M2024-09$296M2024-12−$6.3M2025-03$98.4M2025-06$7.2M2025-09$122M2025-12−$14.0M2026-03−$10.9M2026-06
Value of shares 13F filers added minus the value they sold, each quarter (quarters with most filings in).

More on CUZ

History

Every quarter: Q3 2026 results · Q2 2026 results · Q1 2026 results · Q4 2025 results · Q3 2025 results · Q2 2025 results · Q1 2025 results

Compare CUZ with

中文版：Cousins Properties（CUZ）财报

Español · Français