CBL & Associates Properties (CBL) Financials

$45.73 -0.84 (-1.80%)

Closing price 05/13/2026 03:59 PM Eastern

Extended Trading

$44.90 -0.84 (-1.83%)

As of 04:55 AM Eastern

Annual Income Statements for CBL & Associates Properties

This table shows CBL & Associates Properties' income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2014	2015	2017	2018	2019	2020	2022	2023	2024	2025
Period end date	12/31/2014	12/31/2015	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Net Income / (Loss) Attributable to Common Shareholders	379	344	509	-123	-154	-332	-96	5.43	58	134
Consolidated Net Income / (Loss)	974	238	132	-99	-132	-336	-100	3.20	57	135
Net Income / (Loss) Continuing Operations	759	2,740	509	-99	-8.12	-336	-100	3.20	57	135
Total Pre-Tax Income	3,124	2,749	509	-101	-8.12	-336	-100	3.20	57	135
Total Operating Income	375	555	443	84	38	-111	47	96	131	137
Total Gross Profit	5,130	5,162	621	688	769	576	563	535	516	578
Total Revenue	3,830	5,275	688	859	769	576	563	535	516	578
Operating Revenue	3,759	5,212	688	859	769	576	563	535	516	578
Total Cost of Revenue	-1,300	113	67	170	0.00	0.00	0.00	0.00	0.00	0.00
Total Operating Expenses	1,653	1,946	178	605	854	687	516	440	384	442
Selling, General & Admin Expense	248	267	0.01	62	64	54	68	64	67	69
Depreciation Expense	874	897	107	285	258	215	256	191	141	165
Other Operating Expenses / (Income)	478	464	28	82	231	212	192	187	175	204
Impairment Charge	54	318	43	175	240	213	0.25	0.00	1.46	3.19
Other Special Charges / (Income)	-	-	-	0.00	-62	-7.86	-0.30	-2.31	-0.55	0.00
Total Other Income / (Expense), net	-353	-467	66	-185	-46	-225	-146	-92	-74	-2.05
Interest Expense	544	687	11	220	135	168	210	170	155	176
Interest & Investment Income	175	124	5.49	17	75	-8.46	61	73	39	100
Other Income / (Expense), net	16	97	71	19	13	-48	2.53	4.23	42	74
Preferred Stock Dividends Declared	-90	90	-	45	11	37	2.54	1.11	1.21	2.09
Net Income / (Loss) Attributable to Noncontrolling Interest	-7.55	11	-	-21	-23	-40	-6.03	-3.34	-1.85	-1.44
Basic Earnings per Share	$2.04	$0.68	-	($0.72)	($0.89)	($1.75)	($3.20)	$0.17	$1.87	$4.41
Weighted Average Basic Shares Outstanding	369.91M	370.21M	171.07M	172.49M	173.45M	190.28M	30.05M	31.30M	30.91M	30.34M
Diluted Earnings per Share	$2.04	$0.68	-	($0.72)	($0.89)	($1.75)	($3.20)	$0.17	$1.87	$4.34
Weighted Average Diluted Shares Outstanding	369.91M	370.26M	171.07M	172.49M	173.45M	190.28M	30.05M	31.30M	30.96M	30.84M
Weighted Average Basic & Diluted Shares Outstanding	-	170.52M	171.07M	172.49M	173.45M	190.28M	32.06M	32.27M	30.94M	30.98M
Cash Dividends to Common per Share	-	-	$995.00	$675.00	$75.00	$0.00	-	$1.50	$1.60	$1.70

This table shows CBL & Associates Properties' income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Period end date	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026
Net Income / (Loss) Attributable to Common Shareholders	13	12	-0.21	4.48	16	38	8.21	2.57	74	49	45
Consolidated Net Income / (Loss)	13	12	-0.47	4.29	16	38	8.39	2.16	75	49	46
Net Income / (Loss) Continuing Operations	13	12	-0.47	4.29	16	38	8.39	2.16	75	49	46
Total Pre-Tax Income	14	11	-0.47	4.29	16	38	8.39	2.16	75	49	46
Total Operating Income	27	38	27	33	32	40	20	36	30	51	35
Total Gross Profit	98	171	129	130	125	132	142	141	139	156	146
Total Revenue	129	140	129	130	125	132	142	141	139	156	146
Operating Revenue	129	140	129	130	125	132	142	141	139	156	146
Total Cost of Revenue	31	-31	0.00	0.00	0.00	-	0.00	0.00	0.00	-	0.00
Total Operating Expenses	71	133	102	96	93	92	121	105	109	106	111
Selling, General & Admin Expense	14	14	20	15	15	17	21	15	18	15	19
Depreciation Expense	45	42	38	39	32	32	46	40	40	40	38
Other Operating Expenses / (Income)	14	76	43	43	45	44	55	49	50	50	55
Total Other Income / (Expense), net	-13	-27	-27	-29	-16	-1.99	-12	-33	45	-1.80	12
Interest Expense	43	39	40	39	40	36	44	44	45	43	40
Interest & Investment Income	27	13	8.60	11	11	7.71	10	9.60	39	42	49
Other Income / (Expense), net	3.42	-0.55	3.88	-0.70	12	27	22	0.97	51	-0.40	2.63
Preferred Stock Dividends Declared	-	-	0.26	0.26	0.33	0.35	0.58	0.19	1.16	0.16	1.08
Net Income / (Loss) Attributable to Noncontrolling Interest	-0.08	0.35	-0.52	-0.45	-0.45	-0.43	-0.40	-0.60	-0.37	-0.07	-0.10
Basic Earnings per Share	$0.41	$0.37	($0.01)	$0.14	$0.52	$1.22	$0.27	$0.08	$2.44	$1.62	$1.50
Weighted Average Basic Shares Outstanding	31.31M	31.30M	31.55M	31.15M	30.76M	30.91M	30.42M	30.46M	30.41M	30.34M	30.18M
Diluted Earnings per Share	$0.41	$0.37	($0.01)	$0.14	$0.52	$1.22	$0.27	$0.08	$2.38	$1.61	$1.48
Weighted Average Diluted Shares Outstanding	31.31M	31.30M	31.55M	31.16M	30.76M	30.96M	30.71M	30.74M	31.31M	30.84M	30.68M
Weighted Average Basic & Diluted Shares Outstanding	32.00M	32.27M	31.87M	-	30.75M	30.94M	30.94M	30.93M	30.68M	30.98M	30.94M

This table details how cash moves in and out of CBL & Associates Properties' business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2014	2015	2016	2017	2018	2019	2020	2022	2023	2024	2025
Period end date	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Net Change in Cash & Equivalents	0.00	-84	-199	-0.55	-11	1.55	63	-94	-19	31	-0.85
Net Cash From Operating Activities	936	990	937	217	377	273	133	208	184	202	250
Net Cash From Continuing Operating Activities	914	919	751	217	377	273	133	208	184	202	250
Net Income / (Loss) Continuing Operations	506	238	196	132	-99	-132	-336	-100	3.20	57	135
Consolidated Net Income / (Loss)	506	0.00	196	132	-99	-132	-336	-100	3.20	57	135
Depreciation Expense	583	598	585	107	285	258	215	256	191	141	165
Amortization Expense	9.55	6.92	6.13	-3.32	6.97	6.51	8.19	138	45	26	44
Non-Cash Adjustments To Reconcile Net Income	-143	68	-16	-22	172	112	281	-37	-35	-24	-94
Changes in Operating Assets and Liabilities, net	-41	7.83	-20	3.83	12	29	-35	-50	-21	2.45	-0.40
Net Cash From Investing Activities	-470	-531	20	-115	-27	25	-280	-157	1.70	65	-115
Net Cash From Continuing Investing Activities	-470	-531	20	-115	-27	25	-280	-157	1.70	65	-115
Purchase of Property, Plant & Equipment	-555	-822	-496	-77	-140	-134	-53	-45	-43	-36	-238
Acquisitions	-	-	-	-	-	-	-	0.00	0.00	9.84	0.00
Purchase of Investments	-61	-30	-57	-	-5.05	-5.79	-246	-744	-324	-370	-421
Sale of Property, Plant & Equipment	33	264	379	48	88	130	7.82	9.63	9.81	79	169
Divestitures	-	-	-	-	0.00	19	0.00	0.00	0.00	0.00	0.00
Sale and/or Maturity of Investments	0.00	21	21	-	-	0.00	0.00	601	356	380	365
Other Investing Activities, net	113	36	173	-85	30	15	11	22	2.92	2.61	9.15
Net Cash From Financing Activities	-522	-472	-970	-102	-360	-296	210	-146	-204	-237	-135
Net Cash From Continuing Financing Activities	-522	-472	-970	-102	-360	-296	210	-146	-204	-237	-135
Repayment of Debt	-2,109	-2,644	-2,772	-269	-792	-1,351	-155	-543	-80	-147	-224
Repurchase of Common Equity	-4.86	-0.29	-12	-	-2.27	-	-	0.00	-1.11	-36	-18
Payment of Dividends	-529	-546	-546	-296	-218	-78	-0.91	-27	-120	-50	-77
Issuance of Debt	2,124	2,717	2,349	-	643	1,128	365	425	0.00	0.00	188
Issuance of Common Equity	2.23	1.74	23	-	9.77	4.65	0.70	0.59	0.12	0.01	2.04
Other Financing Activities, net	-4.86	-0.29	-12	463	-0.29	-0.23	-0.09	-1.74	-3.18	-3.03	-5.82
Cash Interest Paid	-	-	-	32	205	198	125	124	136	131	136

This table details how cash moves in and out of CBL & Associates Properties' business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Period end date	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026
Net Change in Cash & Equivalents	6.08	3.40	4.18	14	0.23	12	-31	81	-43	-9.01	60
Net Cash From Operating Activities	50	49	31	64	61	46	32	68	70	80	53
Net Cash From Continuing Operating Activities	50	49	31	64	61	46	32	68	70	80	53
Net Income / (Loss) Continuing Operations	13	12	-0.47	4.29	16	38	8.39	2.16	75	49	46
Consolidated Net Income / (Loss)	13	12	-0.47	4.29	16	38	8.39	2.16	75	49	46
Depreciation Expense	45	42	38	39	32	32	46	40	40	40	38
Amortization Expense	9.52	9.68	5.91	5.20	7.04	7.99	11	11	12	10	8.80
Non-Cash Adjustments To Reconcile Net Income	-18	-2.59	1.41	3.46	-7.21	-22	-19	2.90	-74	-3.87	-39
Changes in Operating Assets and Liabilities, net	-0.08	-13	-14	13	13	-9.16	-14	13	16	-15	-1.62
Net Cash From Investing Activities	-7.57	-16	27	-14	45	7.41	51	47	-172	-41	83
Net Cash From Continuing Investing Activities	-7.57	-16	27	-14	45	7.41	51	47	-172	-41	83
Purchase of Property, Plant & Equipment	-11	-14	-6.85	-7.09	-13	-8.95	-19	-15	-190	-13	-56
Purchase of Investments	-160	-55	-49	-84	-159	-78	-55	-56	-102	-208	-339
Sale of Property, Plant & Equipment	3.94	0.59	6.75	-0.05	66	7.22	72	4.93	92	0.73	0.33
Sale and/or Maturity of Investments	160	53	76	78	152	74	53	111	27	174	470
Other Investing Activities, net	-0.18	-0.14	-0.08	-0.26	-0.27	3.22	1.36	1.18	1.69	4.91	8.08
Net Cash From Financing Activities	-36	-30	-53	-36	-106	-41	-114	-34	60	-48	-76
Net Cash From Continuing Financing Activities	-36	-30	-53	-36	-106	-41	-114	-34	60	-48	-76
Repayment of Debt	-23	-16	-34	-13	-85	-15	-73	-21	-112	-19	-678
Repurchase of Common Equity	-0.83	-0.28	-5.04	-11	-7.93	-13	0.00	-	-4.16	-14	-1.34
Payment of Dividends	-12	-12	-13	-13	-13	-12	-37	-12	-14	-14	-14
Issuance of Debt	-	-	-	-	-	-	0.00	-	-	-	622
Other Financing Activities, net	-0.03	-1.36	-1.06	-	-0.03	-1.93	-3.70	-	-0.06	-2.06	-4.79
Cash Interest Paid	35	34	34	34	34	29	34	34	35	34	39

This table presents CBL & Associates Properties' assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Total Assets	6,480	49,433	17,115	1,842	4,622	4,444	2,946	2,678	2,406	2,747	2,729
Total Current Assets	110	50	265	114	33	404	320	337	296	284	335
Cash & Equivalents	74	38	65	5.88	33	62	170	45	34	41	42
Short-Term Investments	-	-	-	-	0.00	233	150	292	262	243	293
Plant, Property, & Equipment, net	27,893	26,200	25,216	1,673	4,013	2.02	1,752	1,658	1,573	1,866	1,866
Plant, Property & Equipment, gross	32,658	31,054	30,146	2,595	6,362	5,831	1,772	1,795	1,801	2,149	2,222
Accumulated Depreciation	4,765	4,854	4,930	922	2,349	2,241	20	137	228	284	356
Total Noncurrent Assets	12,832	23,184	21,467	6,002	8,602	13,354	874	683	536	598	528
Long-Term Investments	553	534	499	-	307	279	104	77	76	83	86
Noncurrent Note & Lease Receivables	18	17	8.95	0.00	4.66	8.02	619	419	158	187	144
Intangible Assets	-	-	332	48	129	-	105	39	158	161	129
Other Noncurrent Operating Assets	12,261	22,621	20,627	5,954	135	13,066	47	147	144	167	169
Total Liabilities & Shareholders' Equity	12,960	12,210	11,410	1,842	4,622	4,444	2,946	2,678	2,406	2,747	2,729
Total Liabilities	10,110	9,492	8,919	437	3,758	3,910	2,545	2,311	2,075	2,434	2,364
Total Current Liabilities	791	1,177	457	59	231	167	184	200	186	222	194
Accounts Payable	689	561	457	59	231	167	184	200	186	222	194
Total Noncurrent Liabilities	4,711	4,465	8,462	378	3,527	3,742	2,360	2,111	1,889	2,213	2,171
Long-Term Debt	4,711	4,465	8,462	378	3,527	1,185	2,209	2,000	1,889	2,213	2,171
Total Equity & Noncontrolling Interests	2,800	2,682	2,473	1,405	862	534	401	367	331	313	365
Total Preferred & Common Equity	1,285	1,229	1,140	1,405	806	532	396	371	339	324	375
Total Common Equity	2,680	3,887	0.00	1,405	2,483	532	396	371	339	324	375
Common Stock	3,368	3,300	3,203	1,405	2,806	1,988	548	711	719	695	687
Retained Earnings	-689	-742	-836	-	-1,161	-1,456	-152	-339	-380	-372	-313
Accumulated Other Comprehensive Income / (Loss)	1.07	-	-	-	0.00	0.02	-0.00	-1.05	0.61	0.78	0.44
Noncontrolling Interest	1,515	124	1,333	-	56	2.45	4.90	-3.41	-8.70	-11	-10

This table presents CBL & Associates Properties' assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q2 2023	Q3 2023	Q1 2024	Q2 2024	Q3 2024	Q1 2025	Q2 2025	Q3 2025	Q1 2026
Period end date	6/30/2023	9/30/2023	3/31/2024	6/30/2024	9/30/2024	3/31/2025	6/30/2025	9/30/2025	3/31/2026
Total Assets	2,475	2,436	2,344	2,322	2,248	2,625	2,603	2,730	2,645
Total Current Assets	280	293	295	296	307	276	288	313	283
Cash & Equivalents	25	35	60	58	65	30	100	53	123
Short-Term Investments	255	258	235	238	242	246	188	260	160
Plant, Property, & Equipment, net	1,606	1,588	1,554	1,539	1,482	1,800	1,787	1,877	1,878
Plant, Property & Equipment, gross	1,790	1,794	1,802	1,803	1,759	2,104	2,101	2,211	2,249
Accumulated Depreciation	184	206	247	264	277	304	314	334	371
Total Noncurrent Assets	589	555	494	487	459	548	528	540	484
Long-Term Investments	74	73	78	83	84	84	84	84	84
Noncurrent Note & Lease Receivables	341	306	143	128	114	168	149	160	137
Intangible Assets	41	44	154	143	134	156	146	139	121
Other Noncurrent Operating Assets	133	132	119	133	127	140	149	157	143
Total Liabilities & Shareholders' Equity	2,475	2,436	2,344	2,322	2,248	2,625	2,603	2,730	2,645
Total Liabilities	2,150	2,107	2,029	2,023	1,950	2,341	2,325	2,389	2,258
Total Current Liabilities	114	121	169	169	174	190	186	209	179
Accounts Payable	114	121	169	169	174	190	186	209	179
Total Noncurrent Liabilities	2,036	1,987	1,860	1,853	1,775	2,151	2,140	2,181	2,079
Long-Term Debt	1,942	1,900	1,860	1,853	1,775	2,151	2,140	2,181	2,079
Total Equity & Noncontrolling Interests	325	329	315	299	298	284	278	341	387
Total Preferred & Common Equity	334	338	324	309	308	295	289	351	398
Total Common Equity	334	338	324	309	308	295	289	351	398
Common Stock	715	718	717	709	705	695	699	699	684
Retained Earnings	-382	-380	-393	-401	-398	-400	-410	-348	-286
Accumulated Other Comprehensive Income / (Loss)	0.34	0.96	0.73	0.64	0.65	0.31	-0.01	0.41	0.10
Noncontrolling Interest	-8.92	-9.32	-9.35	-9.80	-10	-11	-12	-11	-11

This table displays calculated financial ratios and metrics derived from CBL & Associates Properties' official financial filings.

Metric	2014	2015	2016	2017	2018	2019	2020	2022	2023	2024	2025
Period end date	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2022	12/31/2023	12/31/2024	12/31/2025
DEI Shares Outstanding	170,262,878.00	170,496,444.00	170,793,828.00	171,101,611.00	172,669,152.00	173,503,412.00	196,572,248.00	31,834,178.00	32,001,237.00	30,749,272.00	30,682,618.00
DEI Adjusted Shares Outstanding	170,262,878.00	170,496,444.00	170,793,828.00	171,101,611.00	172,669,152.00	173,503,412.00	196,572,248.00	31,834,178.00	32,001,237.00	30,749,272.00	30,682,618.00
DEI Earnings Per Adjusted Shares Outstanding	2.22	2.02	-	2.98	-0.72	-0.89	-1.69	-3.02	0.17	1.88	4.36
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Net Operating Profit after Tax (NOPAT)	374	553	0.00	443	59	27	-78	33	96	131	137
Return On Investment Capital (ROIC_SIMPLE)	-	-	-	-	-	-	-	1.39%	4.31%	5.20%	5.39%
Earnings before Interest and Taxes (EBIT)	391	652	0.00	514	103	51	-159	49	100	174	210
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	983	1,257	592	618	395	316	64	444	336	341	420
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	967	12,750	-43,370	-1,661	38,262	3,700	-6,494	0.00	202	-180	181
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	51,614	39,417	43,823	45,927	7,724	4,051	10,467	1,953	1,847	2,158	2,114
Increase / (Decrease) in Invested Capital	-593	-12,197	43,370	2,104	-38,203	-3,673	6,416	0.00	-106	312	-44
Book Value per Share	$0.00	$15.72	$0.00	$0.00	$8.13	$14.31	$2.71	$11.64	$10.60	$10.52	$12.22
Tangible Book Value per Share	($2.45)	$15.72	$0.00	($1.94)	$7.86	$13.57	$2.71	$10.40	$5.66	$5.29	$8.02
Total Capital	12,580	7,586	7,183	10,953	1,783	4,391	1,725	2,367	2,219	2,526	2,535
Total Debt	9,367	4,711	4,465	8,462	378	3,527	1,191	2,000	1,889	2,213	2,171
Total Long-Term Debt	9,367	4,711	4,465	8,462	378	3,527	1,191	2,000	1,889	2,213	2,171
Net Debt	8,727	4,084	3,893	7,898	372	3,187	617	1,586	1,516	1,845	1,749
Capital Expenditures (CapEx)	522	557	117	30	52	3.54	46	35	33	-43	69
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-409	-755	-1,165	-257	49	-231	-58	-200	-186	-222	-194
Debt-free Net Working Capital (DFNWC)	-333	-681	-1,127	-192	55	-198	237	137	110	62	142
Net Working Capital (NWC)	-333	-681	-1,127	-192	55	-198	237	137	110	62	142
Net Nonoperating Expense (NNE)	-601	315	0.00	311	158	159	258	132	92	74	2.05
Net Nonoperating Obligations (NNO)	48,401	36,542	41,105	43,436	6,319	3,187	9,933	1,586	1,516	1,845	1,749
Total Depreciation and Amortization (D&A)	592	605	592	104	292	264	223	395	236	167	209
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$3.06	$1.02	$0.00	$1.33	($2.16)	($1.78)	($1.75)	($3.20)	$0.17	$1.87	$4.41
Adjusted Weighted Average Basic Shares Outstanding	369.91M	370.21M	0.00	370.39M	372.07M	175.63M	190.28M	30.05M	31.30M	30.91M	30.34M
Adjusted Diluted Earnings per Share	$3.06	$1.02	$0.00	$1.33	($1.44)	($1.78)	($1.75)	($3.20)	$0.17	$1.87	$4.34
Adjusted Weighted Average Diluted Shares Outstanding	369.91M	370.26M	0.00	370.39M	372.07M	175.63M	190.28M	30.05M	31.30M	30.96M	30.84M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	($1.78)	($1.75)	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	0.00	170.52M	0.00	0.00	173.46M	373.61M	190.28M	32.06M	32.27M	30.94M	30.98M
Normalized Net Operating Profit after Tax (NOPAT)	427	870	0.00	340	181	151	66	33	65	93	98
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-

This table displays calculated financial ratios and metrics derived from CBL & Associates Properties' official financial filings.

Metric	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Period end date	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026
DEI Shares Outstanding	32,054,421.00	32,001,237.00	32,273,350.00	31,872,406.00	31,872,406.00	30,749,272.00	30,935,922.00	30,935,677.00	30,933,176.00	30,682,618.00	30,975,888.00
DEI Adjusted Shares Outstanding	32,054,421.00	32,001,237.00	32,273,350.00	31,872,406.00	31,872,406.00	30,749,272.00	30,935,922.00	30,935,677.00	30,933,176.00	30,682,618.00	30,975,888.00
DEI Earnings Per Adjusted Shares Outstanding	0.40	0.36	-0.01	0.14	0.50	1.22	0.27	0.08	2.40	1.59	1.47
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	-5.08%	-6.62%	-5.31%	-0.16%	-3.29%	-5.74%	9.80%	8.67%	11.34%	-	2.96%
EBITDA Growth	-7.19%	-9.45%	-7.72%	-4.97%	-1.61%	19.21%	33.01%	13.63%	58.99%	-	-15.23%
EBIT Growth	111.41%	50.73%	112.32%	83.11%	45.71%	79.60%	38.09%	12.47%	82.89%	-	-12.10%
NOPAT Growth	190.26%	66.06%	47.11%	162.31%	29.61%	4.52%	8.73%	7.17%	-6.27%	-	69.63%
Net Income Growth	173.94%	153.36%	-192.22%	118.93%	22.35%	200.91%	1,869.41%	-49.71%	376.48%	-	453.06%
EPS Growth	187.23%	516.67%	-116.67%	120.90%	26.83%	229.73%	2,800.00%	-42.86%	357.69%	-	448.15%
Operating Cash Flow Growth	-24.06%	-9.29%	-7.35%	25.78%	22.32%	-6.40%	3.06%	6.29%	13.94%	-	67.05%
Free Cash Flow Firm Growth	116.94%	0.00%	-8.76%	-6.11%	6.35%	-288.77%	-254.41%	-236.50%	-293.68%	-	103.75%
Invested Capital Growth	-8.60%	-5.44%	-7.41%	-7.28%	-9.70%	16.87%	15.10%	15.27%	26.25%	-	1.22%
Revenue Q/Q Growth	-0.40%	8.01%	-7.58%	0.42%	-3.53%	5.28%	7.65%	-0.61%	-1.15%	-	-6.68%
EBITDA Q/Q Growth	5.88%	5.03%	-16.39%	2.21%	9.63%	26.71%	-6.72%	-12.68%	53.39%	-	-16.18%
EBIT Q/Q Growth	71.52%	22.56%	-17.53%	5.62%	36.49%	49.84%	-36.59%	-13.97%	121.94%	-	-25.85%
NOPAT Q/Q Growth	94.41%	53.88%	-50.29%	76.40%	-3.94%	26.96%	-48.29%	73.86%	-15.98%	-	-31.62%
Net Income Q/Q Growth	156.81%	-3.08%	-103.80%	1,005.27%	267.12%	138.35%	-77.66%	-74.27%	3,378.22%	-	-5.18%
EPS Q/Q Growth	161.19%	-9.76%	-102.70%	1,500.00%	271.43%	134.62%	-77.87%	-70.37%	2,875.00%	-	-8.07%
Operating Cash Flow Q/Q Growth	-2.24%	-1.12%	-37.73%	108.95%	-4.93%	-24.34%	-31.43%	115.50%	1.91%	-	-33.98%
Free Cash Flow Firm Q/Q Growth	8.89%	-27.94%	13.11%	5.79%	23.34%	-228.34%	7.48%	6.48%	-75.00%	-	-90.05%
Invested Capital Q/Q Growth	-2.61%	-0.89%	-2.42%	-1.56%	-5.16%	28.27%	-3.89%	-1.41%	3.88%	-	-0.70%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	75.95%	122.27%	100.00%	100.00%	100.00%	27.44%	100.00%	100.00%	100.00%	-	100.00%
EBITDA Margin	65.75%	63.94%	57.85%	58.87%	66.90%	80.87%	70.07%	61.56%	95.53%	-	57.69%
Operating Margin	20.87%	27.08%	20.80%	25.58%	25.47%	30.02%	14.42%	25.23%	21.44%	-	23.76%
EBIT Margin	23.51%	26.68%	23.81%	25.04%	35.43%	50.83%	29.94%	25.92%	58.19%	-	25.56%
Profit (Net Income) Margin	9.95%	8.93%	-0.37%	3.31%	12.59%	28.51%	5.92%	1.53%	53.89%	-	31.78%
Tax Burden Percent	91.03%	111.32%	100.00%	100.00%	100.00%	98.20%	100.00%	100.00%	100.00%	-	100.00%
Interest Burden Percent	46.51%	30.07%	-1.54%	13.22%	35.55%	57.12%	19.76%	5.91%	92.62%	-	124.31%
Effective Tax Rate	8.93%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	-	0.00%
Return on Invested Capital (ROIC)	5.31%	7.63%	4.10%	7.32%	7.52%	7.73%	3.93%	7.13%	6.24%	-	6.63%
ROIC Less NNEP Spread (ROIC-NNEP)	4.56%	5.99%	2.85%	5.44%	6.42%	7.61%	3.19%	5.07%	9.09%	-	7.30%
Return on Net Nonoperating Assets (RNNOA)	18.61%	26.65%	13.03%	26.69%	29.88%	39.76%	17.49%	28.50%	45.09%	-	38.11%
Return on Equity (ROE)	23.92%	34.28%	17.14%	34.02%	37.40%	47.49%	21.42%	35.63%	51.33%	-	44.74%
Cash Return on Invested Capital (CROIC)	11.88%	10.63%	13.55%	14.32%	17.51%	-9.11%	-7.59%	-7.51%	-16.62%	-	6.02%
Operating Return on Assets (OROA)	4.97%	5.62%	5.17%	5.51%	7.92%	10.17%	6.37%	5.68%	12.94%	-	5.65%
Return on Assets (ROA)	2.10%	1.88%	-0.08%	0.73%	2.82%	5.71%	1.26%	0.34%	11.99%	-	7.03%
Return on Common Equity (ROCE)	24.39%	34.87%	17.51%	35.04%	38.57%	48.92%	22.16%	36.97%	53.03%	-	46.20%
Return on Equity Simple (ROE_SIMPLE)	-1.29%	0.00%	0.68%	0.00%	0.00%	0.00%	22.36%	0.00%	0.00%	-	0.00%
Net Operating Profit after Tax (NOPAT)	25	38	19	33	32	40	20	36	30	51	35
NOPAT Margin	19.00%	27.08%	14.56%	25.58%	25.47%	30.02%	14.42%	25.23%	21.44%	-	23.76%
Net Nonoperating Expense Percent (NNEP)	0.75%	1.63%	1.25%	1.89%	1.10%	0.12%	0.74%	2.06%	-2.85%	-	-0.67%
Return On Investment Capital (ROIC_SIMPLE)	-	1.70%	0.86%	1.54%	1.54%	1.57%	0.84%	1.47%	1.18%	2.00%	1.41%
Cost of Revenue to Revenue	24.05%	-22.27%	0.00%	0.00%	0.00%	72.56%	0.00%	0.00%	0.00%	-	0.00%
SG&A Expenses to Revenue	11.13%	10.24%	15.81%	11.54%	12.32%	12.68%	14.61%	10.80%	12.80%	-	12.73%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	-	0.00%
Operating Expenses to Revenue	55.08%	95.19%	79.20%	74.42%	74.53%	-2.59%	85.58%	74.77%	78.56%	-	76.24%
Earnings before Interest and Taxes (EBIT)	30	37	31	32	44	66	42	37	81	50	37
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	85	89	75	76	84	106	99	87	133	100	84
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	1.86	2.16	2.09	2.21	0.00	2.80	2.79	2.71	2.69	-	2.98
Price to Tangible Book Value (P/TBV)	2.14	4.05	3.98	4.13	0.00	5.56	5.90	5.49	4.46	-	4.28
Price to Revenue (P/Rev)	1.15	1.37	1.28	1.29	0.00	1.75	1.56	1.46	1.71	-	2.04
Price to Earnings (P/E)	0.00	134.79	208.35	23.71	0.00	15.66	12.42	12.22	7.71	-	6.93
Dividend Yield	18.23%	6.56%	7.28%	7.24%	6.81%	6.72%	9.03%	9.45%	8.01%	-	4.57%
Earnings Yield	0.00%	0.74%	0.48%	4.22%	0.00%	6.39%	8.05%	8.18%	12.97%	-	14.43%
Enterprise Value to Invested Capital (EV/IC)	1.16	1.21	1.20	1.21	0.00	1.27	1.25	1.24	1.28	-	1.38
Enterprise Value to Revenue (EV/Rev)	3.95	4.18	4.08	4.07	0.00	5.31	4.92	4.71	4.91	-	4.96
Enterprise Value to EBITDA (EV/EBITDA)	6.24	6.67	6.54	6.60	0.00	8.02	7.10	6.75	6.38	-	7.14
Enterprise Value to EBIT (EV/EBIT)	24.65	22.42	18.54	16.41	0.00	15.67	13.95	13.33	11.96	-	14.07
Enterprise Value to NOPAT (EV/NOPAT)	38.16	23.41	19.63	17.20	0.00	21.22	20.81	19.95	21.68	-	19.14
Enterprise Value to Operating Cash Flow (EV/OCF)	11.42	12.20	11.89	11.06	0.00	13.54	12.80	12.26	12.60	-	10.66
Enterprise Value to Free Cash Flow (EV/FCFF)	9.29	11.09	8.48	8.13	0.00	0.00	0.00	0.00	0.00	-	22.99
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	5.78	5.71	5.91	6.20	5.95	7.07	7.58	7.71	6.40	-	5.37
Long-Term Debt to Equity	5.78	5.71	5.91	6.20	5.95	7.07	7.58	7.71	6.40	-	5.37
Financial Leverage	4.08	4.45	4.57	4.91	4.65	5.22	5.48	5.62	4.96	-	5.22
Leverage Ratio	6.72	7.29	7.23	7.69	7.47	8.01	8.30	8.54	7.79	-	7.85
Compound Leverage Factor	3.13	2.19	-0.11	1.02	2.66	4.57	1.64	0.50	7.22	-	9.76
Debt to Total Capital	85.24%	85.10%	85.53%	86.11%	85.62%	87.61%	88.34%	88.52%	86.49%	-	84.29%
Short-Term Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	-	0.00%
Long-Term Debt to Total Capital	85.24%	85.10%	85.53%	86.11%	85.62%	87.61%	88.34%	88.52%	86.49%	-	84.29%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	-	0.00%
Noncontrolling Interests to Total Capital	-0.42%	-0.39%	-0.43%	-0.46%	-0.49%	-0.42%	-0.46%	-0.49%	-0.43%	-	-0.43%
Common Equity to Total Capital	15.17%	15.29%	14.90%	14.35%	14.87%	12.81%	12.12%	11.97%	13.94%	-	16.14%
Debt to EBITDA	5.51	5.63	5.65	5.70	5.48	6.48	5.87	5.68	5.12	-	5.14
Net Debt to EBITDA	4.45	4.52	4.51	4.53	4.27	5.40	4.89	4.69	4.19	-	4.23
Long-Term Debt to EBITDA	5.51	5.63	5.65	5.70	5.48	6.48	5.87	5.68	5.12	-	5.14
Debt to NOPAT	33.68	19.74	16.95	14.84	13.68	17.15	17.20	16.80	17.39	-	13.78
Net Debt to NOPAT	27.19	15.85	13.55	11.81	10.67	14.30	14.32	13.87	14.22	-	11.35
Long-Term Debt to NOPAT	33.68	19.74	16.95	14.84	13.68	17.15	17.20	16.80	17.39	-	13.78
Altman Z-Score	0.31	0.32	0.30	0.30	0.00	0.33	0.29	0.28	0.41	-	0.48
Noncontrolling Interest Sharing Ratio	-1.97%	-1.74%	-2.16%	-3.00%	-3.12%	-3.01%	-3.44%	-3.76%	-3.31%	-	-3.26%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	2.42	1.59	1.75	1.75	1.76	1.28	1.45	1.55	1.50	-	1.58
Quick Ratio	2.42	1.59	1.75	1.75	1.76	1.28	1.45	1.55	1.50	-	1.58
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	200	144	163	172	213	-272	-252	-235	-412	95	9.43
Operating Cash Flow to CapEx	679.63%	365.12%	30,738.00%	898.89%	0.00%	2,670.52%	0.00%	674.12%	70.58%	-	95.20%
Free Cash Flow to Firm to Interest Expense	4.66	3.69	4.09	4.37	5.36	-7.47	-5.66	-5.35	-9.20	-	0.24
Operating Cash Flow to Interest Expense	1.16	1.26	0.77	1.63	1.54	1.27	0.71	1.55	1.55	-	1.33
Operating Cash Flow Less CapEx to Interest Expense	0.99	0.92	0.77	1.45	2.86	1.22	1.89	1.32	-0.65	-	-0.07
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.21	0.21	0.22	0.22	0.22	0.20	0.21	0.22	0.22	-	0.22
Accounts Receivable Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	-	0.00
Inventory Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	-	0.00
Fixed Asset Turnover	0.33	0.33	0.33	0.34	0.34	0.30	0.31	0.32	0.33	-	0.32
Accounts Payable Turnover	0.00	0.00	0.00	0.00	0.00	0.63	0.71	0.72	0.67	-	0.00
Days Sales Outstanding (DSO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	-	0.00
Days Inventory Outstanding (DIO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	-	0.00
Days Payable Outstanding (DPO)	0.00	0.00	0.00	0.00	0.00	582.89	512.52	507.14	546.98	-	0.00
Cash Conversion Cycle (CCC)	0.00	0.00	0.00	0.00	0.00	-582.89	-512.52	-507.14	-546.98	-	0.00
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	1,863	1,847	1,802	1,774	1,682	2,158	2,074	2,045	2,124	2,114	2,099
Invested Capital Turnover	0.28	0.28	0.28	0.29	0.30	0.26	0.27	0.28	0.29	-	0.28
Increase / (Decrease) in Invested Capital	-175	-106	-144	-139	-181	312	272	271	442	-44	25
Enterprise Value (EV)	2,153	2,240	2,154	2,148	0.00	2,739	2,601	2,541	2,719	-	2,887
Market Capitalization	629	732	676	683	0.00	904	822	785	946	-	1,186
Book Value per Share	$10.55	$10.60	$10.05	$9.69	$10.03	$10.52	$9.54	$9.35	$11.36	$12.22	$12.85
Tangible Book Value per Share	$9.18	$5.66	$5.26	$5.19	$5.67	$5.29	$4.50	$4.62	$6.86	$8.02	$8.94
Total Capital	2,229	2,219	2,175	2,152	2,073	2,526	2,434	2,417	2,521	2,535	2,466
Total Debt	1,900	1,889	1,860	1,853	1,775	2,213	2,151	2,140	2,181	2,171	2,079
Total Long-Term Debt	1,900	1,889	1,860	1,853	1,775	2,213	2,151	2,140	2,181	2,171	2,079
Net Debt	1,534	1,516	1,487	1,475	1,384	1,845	1,790	1,767	1,784	1,749	1,712
Capital Expenditures (CapEx)	7.35	14	0.10	7.15	-52	1.73	-52	10	99	12	56
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-121	-186	-169	-169	-174	-222	-190	-186	-209	-194	-179
Debt-free Net Working Capital (DFNWC)	172	110	127	126	133	62	86	102	104	142	104
Net Working Capital (NWC)	172	110	127	126	133	62	86	102	104	142	104
Net Nonoperating Expense (NNE)	12	25	19	29	16	1.99	12	33	-45	1.80	-12
Net Nonoperating Obligations (NNO)	1,534	1,516	1,487	1,475	1,384	1,845	1,790	1,767	1,784	1,749	1,712
Total Depreciation and Amortization (D&A)	55	52	44	44	39	40	57	50	52	50	47
Debt-free, Cash-free Net Working Capital to Revenue	-22.15%	-34.84%	-31.94%	-32.09%	-33.31%	-42.99%	-36.01%	-34.43%	-37.67%	-	-30.77%
Debt-free Net Working Capital to Revenue	31.55%	20.52%	23.98%	23.95%	25.33%	12.08%	16.27%	18.96%	18.86%	-	17.81%
Net Working Capital to Revenue	31.55%	20.52%	23.98%	23.95%	25.33%	12.08%	16.27%	18.96%	18.86%	-	17.81%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.41	$0.37	($0.01)	$0.14	$0.52	$1.22	$0.27	$0.08	$2.44	$1.62	$1.50
Adjusted Weighted Average Basic Shares Outstanding	31.31M	31.30M	31.55K	31.15M	30.76M	30.91M	30.42M	30.46M	30.41M	30.34M	30.18M
Adjusted Diluted Earnings per Share	$0.41	$0.37	($0.01)	$0.14	$0.52	$1.22	$0.27	$0.08	$2.38	$1.61	$1.48
Adjusted Weighted Average Diluted Shares Outstanding	31.31M	31.30M	31.55K	31.16M	30.76M	30.96M	30.71M	30.74M	31.31M	30.84M	30.68M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	32.00M	32.27M	31.87M	0.00	30.75M	30.94M	30.94M	30.93M	30.68M	30.98M	30.94M
Normalized Net Operating Profit after Tax (NOPAT)	23	26	19	23	22	28	14	26	22	36	24
Normalized NOPAT Margin	17.55%	18.89%	14.98%	17.87%	17.82%	21.14%	10.10%	18.38%	15.88%	-	16.63%
Pre Tax Income Margin	10.93%	8.02%	-0.37%	3.31%	12.59%	29.03%	5.92%	1.53%	53.89%	-	31.78%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	0.71	0.95	0.77	0.82	1.12	1.84	0.96	0.83	1.81	-	0.94
NOPAT to Interest Expense	0.57	0.97	0.47	0.84	0.80	1.09	0.46	0.81	0.67	-	0.87
EBIT Less CapEx to Interest Expense	0.54	0.61	0.77	0.64	2.43	1.79	2.13	0.60	-0.39	-	-0.46
NOPAT Less CapEx to Interest Expense	0.40	0.62	0.47	0.66	2.12	1.04	1.63	0.58	-1.53	-	-0.52
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	-2,669.35%	3,752.22%	2,308.80%	171.14%	156.98%	88.41%	113.37%	116.70%	61.60%	-	31.40%
Augmented Payout Ratio	-2,688.34%	3,786.83%	2,586.15%	229.80%	232.54%	152.24%	161.00%	148.74%	75.15%	-	42.64%

Financials Breakdown Chart

Key Financial Trends

Here is a concise, investor-focused read on CBL & Associates Properties (NYSE: CBL) by looking at quarterly data from the last four years. The highlights focus on cash flow trends, revenue and earnings trajectory, and balance-sheet levers that could affect future liquidity and equity value.

Strong, rising operating cash flow in 2025: Net cash from continuing operating activities rose from about 31.7 million in Q1 2025 to 68.3 million (Q2), 69.6 million (Q3), and 80.2 million (Q4 2025). This shows improving cash generation from core operations as the year progressed.
Solid revenue base and growth in Q4 2025: Operating revenue of 156.42 million in Q4 2025 compares with 131.69 million in Q4 2024, signaling a healthy top-line level for a retail REIT over the period.
Free cash flow potential in Q4 2025: With CFO at about 80.16 million and capital expenditures (PPE purchases) around 13.06 million, estimated quarterly free cash flow was roughly 67 million, supporting dividend capacity or debt management from current operations.
Capital markets access: Issuance of common equity in Q4 2025 was 0.68 million, indicating ongoing capacity to raise equity if needed for liquidity or growth initiatives.
Earnings power in several 2025 quarters: Net income attributable to common shareholders was solid in Q3 2025 (about 74.27 million) and remained positive in other 2025 quarters (e.g., 48.83 million in Q4 2025, 2–8 million in earlier quarters), underscoring tangible earnings generation despite quarterly volatility.
Asset base expanded into 2025: Total assets rose into the 2.73 billion range by mid-late 2025, up from roughly 2.62–2.63 billion in 2024, reflecting portfolio growth or acquisition activity.
Debt level remains elevated but relatively steady: Long-term debt ranged around 2.14–2.18 billion through 2025, indicating ongoing leverage typical for a REIT with a large property portfolio. This is a key risk factor to monitor, but not a binary negative given the cash flow generation.
Interest burden persists: Interest expense remains a meaningful line item (roughly 43–45 million per quarter in 2025), which reduces pretax income and net income in some quarters. This is a normal cost of financing a sizable asset base but warrants continued attention to leverage and coverage ratios.
Financing activity cash outflows: Net cash from financing activities was negative in 2025 (e.g., about -47.8 million in Q4 2025), indicating debt service, dividends, and potential share repurchases reducing cash from financing sources during the quarter.
Investing activity intensity persists: Significant outflows for purchases of investments and PPE across 2024–2025 (e.g., PPE purchases and large investments in several quarters) reflect ongoing portfolio development, which can pressure near-term cash but may support longer-term returns if assets perform well.
Earnings volatility and spikes: Net income to common shareholders fluctuated meaningfully (for example, higher in Q3 2025 and lower in Q2 2025), highlighting earnings volatility that could complicate near-term expectations for dividends and value realization.
Debt burden versus equity base: With long-term debt in the 2.1–2.2 billion band and equity in the low hundreds of millions to a few hundred million, leverage remains high relative to equity, potentially constraining financial flexibility if market or interest-rate conditions worsen.

05/14/26 05:43 AM ETAI Generated. May Contain Errors.

CBL & Associates Properties Financials - Frequently Asked Questions

According to the most recent income statement we have on file, CBL & Associates Properties' financial year ends in December. Their financial year 2025 ended on December 31, 2025.

CBL & Associates Properties' net income appears to be on a downward trend, with a most recent value of $134.53 million in 2025, falling from $974.47 million in 2014. The previous period was $57.12 million in 2024. See CBL & Associates Properties' forecast for analyst expectations on what's next for the company.

CBL & Associates Properties' total operating income in 2025 was $136.57 million, based on the following breakdown:

Total Gross Profit: $578.37 million
Total Operating Expenses: $441.80 million

Over the last 9 years, CBL & Associates Properties' total revenue changed from $3.83 billion in 2014 to $578.37 million in 2025, a change of -84.9%.

CBL & Associates Properties' total liabilities were at $2.36 billion at the end of 2025, a 2.9% decrease from 2024, and a 76.6% decrease since 2015.

In the past 10 years, CBL & Associates Properties' cash and equivalents has ranged from $5.88 million in 2018 to $169.55 million in 2021, and is currently $42.29 million as of their latest financial filing in 2025.

Over the last 10 years, CBL & Associates Properties' book value per share changed from 0.00 in 2014 to 12.22 in 2025, a change of 1,222.0%.

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Financial statements for NYSE:CBL last updated on 5/9/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.

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CBL & Associates Properties (CBL) Financials

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CBL & Associates Properties (CBL) Financials

Annual Income Statements for CBL & Associates Properties

Quarterly Income Statements for CBL & Associates Properties

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Quarterly Cash Flow Statements for CBL & Associates Properties

Annual Balance Sheets for CBL & Associates Properties

Quarterly Balance Sheets for CBL & Associates Properties

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Quarterly Metrics And Ratios for CBL & Associates Properties

Financials Breakdown Chart

Key Financial Trends

CBL & Associates Properties Financials - Frequently Asked Questions

When does CBL & Associates Properties' fiscal year end?

How has CBL & Associates Properties' net income changed over the last 9 years?

What is CBL & Associates Properties' operating income?

How has CBL & Associates Properties' revenue changed over the last 9 years?

How much debt does CBL & Associates Properties have?

How much cash does CBL & Associates Properties have?

How has CBL & Associates Properties' book value per share changed over the last 10 years?

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