NYSE · Financial Statements

CBL & Associates Properties, Inc. (CBL) Financial Statements

$49.91 NYSE: CBL Market Cap $1.54B

CBL & Associates Properties, Inc. most recently reported annual revenue of $578.0M, net profit of $136.0M. Revenue grew at an average annual rate of 0.1% over the last 5 fiscal years. See the full income statement, balance sheet, and cash flow statement below, plus valuation and return ratios.

CBL & Associates Properties, Inc.: Revenue fell from $1.0B in 2016 to $578.0M in 2025, a change of -43.8% over 9 years; net profit was positive in 5 of 10 reported years; operating margin moved from 36.0% to 24.2%, a shift of -11.9 percentage points; the most recent year shows net profit of $136.0M.

Income Statement — 10 Years (USD millions)

Metric2016201720182019202020212022202320242025
Revenue$1.0B$927.0M$859.0M$769.0M$576.0M$577.0M$563.0M$535.0M$516.0M$578.0M
Operating Expenses$658.0M$618.0M$600.0M$553.0M$480.0M$450.0M$516.0M$442.0M$383.0M$439.0M
Operating Profit$370.0M$309.0M$258.0M$216.0M$96.0M$127.0M$47.0M$93.0M$132.0M$140.0M
Operating Margin36.0%33.3%30.1%28.1%16.6%22.1%8.3%17.4%25.7%24.2%
Other Income$-177.0M$-147.0M$-359.0M$-345.0M$-442.0M$-771.0M$-143.0M$-89.0M$-74.0M$-5.0M
Interest$0$0$0$206.0M$201.0M$268.0M$217.0M$173.0M$154.0M$176.0M
Depreciation$293.0M$299.0M$285.0M$258.0M$215.0M$208.0M$256.0M$191.0M$141.0M$165.0M
Profit Before Tax$193.0M$162.0M$-101.0M$-128.0M$-347.0M$-644.0M$-96.0M$4.0M$58.0M$135.0M
Tax$-1.1M$-1.2M$1.5M$-2.5M$-4.8M$750,000$-3.2M$21.8M$1.8M$350,000
Net Profit$172.0M$126.0M$-79.0M$-109.0M$-404.0M$-622.0M$-93.0M$7.0M$59.0M$136.0M
EPS$0.88$0.52$-0.83$-0.78$-1.76$-29.95$-3.20$0.17$1.87$4.34
Dividend Payout0.0%0.0%0.0%0.0%0.0%0.0%0.0%0.0%0.0%0.0%

Quarterly Results — Last 12 Quarters (USD millions)

8 duplicate period labels in the source data were collapsed.

MetricSep '23Dec '23Mar '24Jun '24Sep '24Dec '24Mar '25Jun '25Sep '25Dec '25Mar '26Jun '26
Revenue$129.0M$140.0M$129.0M$130.0M$125.0M$132.0M$142.0M$141.0M$139.0M$156.0M$146.0M$146.0M
Operating Expenses$104.0M$102.0M$101.0M$97.0M$93.0M$92.0M$121.0M$104.0M$108.0M$106.0M$111.0M$65.0M
Operating Profit$25.0M$38.0M$28.0M$33.0M$32.0M$40.0M$20.0M$37.0M$32.0M$51.0M$35.0M$81.0M
Operating Margin19.3%27.0%21.4%25.5%25.5%30.2%14.4%26.3%22.7%32.4%23.8%55.3%
Interest$43.0M$42.0M$40.0M$39.0M$39.0M$36.0M$44.0M$44.0M$45.0M$43.0M$40.0M$43.0M
Profit Before Tax$14.0M$12.0M$-1.0M$5.0M$16.0M$38.0M$8.0M$3.0M$75.0M$49.0M$45.0M$45.0M
Tax$8.9M$-4.1M$25.0M$13.2M$2.3M$530,000$-6.0M$14.6M$60,000$1.1M$-2.7M$-1.4M
Net Profit$13.0M$12.0M$0$5.0M$16.0M$38.0M$9.0M$3.0M$75.0M$49.0M$46.0M$45.0M
EPS$0.41$0.37$0.00$0.14$0.52$1.22$0.27$0.08$2.38$1.56$1.48$1.47

Over the 10 years reported for CBL & Associates Properties, Inc., borrowings increased from $65.0M in 2016 to $2.2B in 2025, cash stood at $42.0M in the latest year, shareholders' equity was $0, current assets covered current liabilities 2.55 times.

Balance Sheet — 10 Years (USD millions)

Metric2016201720182019202020212022202320242025
Total Assets$757.0M$668.0M$664.0M$4.6B$4.4B$2.9B$2.7B$2.4B$2.7B$2.7B
Current Assets$177.0M$163.0M$146.0M$147.0M$233.0M$584.0M$650.0M$431.0M$501.0M$494.0M
Cash$19.0M$33.0M$25.0M$33.0M$62.0M$170.0M$45.0M$34.0M$41.0M$42.0M
Inventory$-6.1B$0$0$0$0$0$0$0$0$0
Receivables$95.0M$84.0M$78.0M$75.0M$104.0M$264.0M$216.0M$46.0M$48.0M$48.0M
Fixed Assets$5.5B$5.2B$4.8B$4.1B$3.6B$0$0$0$0$0
Capital Work in Progress$0$0$0$0$0$0$0$0$0$0
Investments$267.0M$249.0M$284.0M$307.0M$512.0M$254.0M$370.0M$339.0M$327.0M$379.0M
Other Assets$-59.0M$-60.0M$-29.0M$0$0$0$0$0$0$0
Total Liabilities$2.0M$2.0M$2.0M$3.8B$3.9B$2.5B$2.3B$2.1B$2.4B$2.4B
Current Liabilities$280.0M$229.0M$262.0M$227.0M$170.0M$184.0M$200.0M$186.0M$222.0M$194.0M
Borrowings$65.0M$53.0M$81.0M$3.5B$3.7B$2.4B$2.1B$2.0B$2.2B$2.2B
Other Liabilities$0$0$0$227.0M$170.0M$184.0M$200.0M$106.0M$222.0M$194.0M
Equity$2.0M$2.0M$2.0M$2.0M$2.0M$0$0$0$0$0
Reserves$6.1B$5.7B$5.3B$806.0M$532.0M$396.0M$371.0M$339.0M$324.0M$375.0M

For CBL & Associates Properties, Inc., operating cash flow was positive in 9 of 10 reported years; free cash flow in the latest year was $250.0M; free cash flow was positive in 9 of 10 years; financing activities used $27.0M in the latest year, which covers debt repayment, dividends and buybacks.

Cash Flow Statement — 10 Years (USD millions)

Metric2016201720182019202020212022202320242025
Operating Cash Flow$448.0M$377.0M$235.0M$273.0M$-69.0M$39.0M$208.0M$184.0M$202.0M$250.0M
Investing Cash Flow$-95.0M$-187.0M$-59.0M$30.0M$-290.0M$87.0M$-157.0M$2.0M$65.0M$-115.0M
Financing Cash Flow$-48.0M$-68.0M$-35.0M$-30.0M$-1.0M$0$-23.0M$-7.0M$-40.0M$-27.0M
Net Cash Flow$-53.0M$14.0M$-7.0M$2.0M$29.0M$108.0M$-94.0M$-19.0M$31.0M$-1.0M
Free Cash Flow$441.0M$361.0M$228.0M$279.0M$-69.0M$39.0M$208.0M$184.0M$202.0M$250.0M

Valuation & Return Ratios

MetricValue
PEG Ratio0.03
EV / EBITDA6.27
FCF Yield16.71%
Quick Ratio2.47
Interest Coverage1.16
Return 1Y112.81%
Return 3Y207.26%
Return 5Y—

CBL & Associates Properties, Inc. (CBL) financials — frequently asked questions

What is CBL & Associates Properties, Inc.'s annual revenue?

CBL & Associates Properties, Inc. (CBL) reported annual revenue of $578.0M in its most recent fiscal year.

What is CBL & Associates Properties, Inc.'s net profit?

CBL & Associates Properties, Inc. (CBL) reported net profit of $136.0M in its most recent fiscal year.

What is CBL EV/EBITDA?

CBL & Associates Properties, Inc.'s enterprise value to EBITDA (EV/EBITDA) ratio is 6.27.

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