Copt Defense Properties CDP
- Headquarters
- Columbia, MD
- Next results
- around Feb 4, 2027
Where each dollar of revenue went, FY2021
Revenue of $664.4M through the costs to a net profit of $81.6M · income statement of the 10-K
What changed
6 new risk paragraphs and 1 accounting fact worth reading about. 10-K filed Feb 20, 2026 against Feb 21, 2025.
Each row opens the detail with the quote and the filing. A row is a change worth reading, not a verdict.
Accounting checks
10 checks on the latest 10-K. Checks, not verdicts.
1fact worth reading about the other 9 checks found nothing to note
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Receivables growing faster than revenueReceivables +37.8% ($42.2M to $58.2M) vs revenue +1.4% ($753.3M to $763.9M), +36.4 pts apart
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Cash from operations $309.9M vs net income $159.5M (FY ending Dec 31, 2025)
8 more checks with nothing to note
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Same auditor in both 10-Ks: PricewaterhouseCoopers LLP
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No statement of substantial doubt about going concern
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No 8-K item 4.02 in the last 2 years
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No NT 10-K or NT 10-Q in the last 2 years
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The same matters as last year: Determination of the Expected Lease End Date for United States Government Leases with One-Year Renewal Options and/or Early Termination Rights
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No sentence in the 10-K concludes that controls were not effective because of a material weakness
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No 8-K item 2.06 in the last 2 years
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No 8-K item 1.03 in the last 2 years
In their words
6 paragraphs in Risk Factors that were not in the 10-K filed Feb 21, 2025. Quoted as filed.
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Item 1A · new paragraph · not in the 10-K filed Feb 21, 2025 10-K, ITEM 1A
Certain of these conditions are further discussed in the risk factors that follow.
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Item 1A · new paragraph · not in the 10-K filed Feb 21, 2025 10-K, ITEM 1A
The use of technology based on artificial intelligence and machine learning presents risks and challenges that may adversely affect our business and results of operations. We may use artificial intelligence and machine learning technology (collectively, “AI”) capabilities with the goal of enhancing efficiencies in conducting our…
New risk paragraphs, against peers
Latest 10-K of each, Real estate companies closest in revenue
Paragraphs in Risk Factors with nothing like them in the company's 10-K the year before. A count of text, not of risk.
Financial performance
Last 4 fiscal years · 10-K XBRL
| Metric | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|
| Revenue | $739.0M | $685.0M | $753.3M | $763.9M |
| Net income | $178.8M | −$74.7M | $138.4M | $151.7M |
| Operating cash flow | $265.8M | $276.3M | $331.0M | $309.9M |
Revenue, FY2016 to FY2025
Ten fiscal years, each from its own 10-K · XBRL · USD
$763.9M ▲ 1.4% in FY2025$151.7M ▲ 9.6% in FY2025
Recent filings
2 filings in the last 30 days · SEC EDGAR
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10-QNov 4, 2026Quarterly report (10-Q) period ended Sep 30, 2026
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8-KOct 29, 2026Quarterly results 8-K item 2.02
About the company
Copt Defense Properties, Columbia, MD · from the 10-K filed Feb 20, 2026
COPT Defense Properties (“COPT Defense”) and subsidiaries (collectively, the “Company”, “we” or “us”) is a fully-integrated and self-managed real estate investment trust (“REIT”) focused on owning, operating and developing properties in locations proximate to, or sometimes containing, key U.S. Government (“USG”) defense installations and missions (which we refer to herein as our Defense/IT Portfolio). Our tenants include the USG and its defense contractors, who are primarily engaged in priority national security activities, and who generally require mission-critical and high security property enhancements.
- Headquarters
- Columbia, MD
- Country
- United States
- Reports in
- USD
- Listed on
- NYSE
- Fiscal year ends
- December 31
- Last results
- Oct 29, 2026
- Incorporated in
- MD
Email alerts
Sources
The 10-K filed Feb 20, 2026 (open at SEC), compared with the 10-K filed Feb 21, 2025. Numbers from the XBRL of the 10-Ks; filings from SEC EDGAR.
Work with it: Excel workbook · CSV. Google Sheet that stays up to date: paste =IMPORTDATA("https://tickdelta.com/company/CDP/export.csv") into a cell.